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Annual Report 2010

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Annual Report 2010 The Public Trustee Annual Report 2009-2010 i The Public Trustee The Public Trustee is an independent statutory authority that reports to Queensland Parliament through Queensland’s Attorney-General and Minister for Industrial Relations. Operating as a corporation sole constituted under the Public Trustee Act 1978 we provide professional, accessible and reliable, trustee, financial and related services to Queenslanders. For the purpose of this report The Public Trustee of Queensland refers to the independent statutory individual and The Public Trustee refers to our organisation as a whole. Regional Service Delivery Sunshine Coast Nambour Cairns Redcliffe Strathpine Brisbane Metro Townsville Southport Ipswich Mount Isa Mackay Rockhampton Gladstone Bundaberg Maryborough Toowoomba The Public Trustee Annual Report 2009-10 is available at: www.pt.qld.gov.au Marketing and Communication Phone: (07) 3213 9339 Email: [email protected] Interpreter Service Statement We are committed to providing accessible services to people with disability and people from culturally and linguistically diverse backgrounds. If you require assistance accessing this report phone 07 3213 9421. Phone: 1300 360 044 Vist: www.pt.qld.gov.au ii Our Vision and Mission The Public Trustee – Vision To be Queensland’s best provider of trustee and administration services. The Public Trustee – Mission To deliver a full range of professional, accessible and reliable, trustee, financial and related services in a supportive, compassionate and ethical manner. Our Purpose To provide professional and accessible services in: • Deceased Estate Administration • Trusts • Will making • Financial management for those with impaired capacity • Facilitating philanthropy. Our Values Client Service • Striving for excellence in everything we do • Developing enduring, respectful and compassionate relationships with our clients • Responding to new and emerging client needs. Integrity • Maintaining the highest standards of ethical practice as Trustees and Administrators. Accountability • We are responsible for our actions, decisions and performance • We strive for transparency in decision-making and relevant timely disclosure to our clients and their carers. Our Ethics We conduct our affairs in compliance with applicable laws and regulations, observing the highest standards of professional and business ethics. A Code of Conduct applies to all our employees and accords with the principles of the Public Sector Ethics Act 1994. 1 Contents Our Vision and Mission 1 Client Services 37 Client Services 38 Public Trustee of Queensland 5 Year in review 6 Our Regional Offices 42 Our highlights 8 Our regional offices 43 Achievements against our Strategic Plan 2009-2013 9 Philanthropic Trusts 51 Our Toward Q2 achievements 11 Philanthropic Trusts 52 Our disability and trust clients 15 Office of the Official Solicitor 57 Sustainability 16 Office of the Official Solicitor 59 Aboriginal and Torres Strait Islander people 18 Organisational Support 64 Our Community Service Obligations 19 Organisational Support 65 Our financial highlights 21 Investment Services 69 Our Corporate Governance 25 Investment Services 70 Our corporate governance framework 26 Human Resources 75 Our organisational structure 28 Human Resource Management 76 Our boards and committees Financial Statements 83 with external members 33 Internal committees and Investment Trusts 113 working groups 34 Legislation 134 Glossary 135 22 September 2010 The Honourable Cameron Dick MP Attorney-General and Minister for Industrial Relations 18th Floor, State Law Building 50 Ann Street Brisbane Qld 4000 Dear Attorney-General I am pleased to present the Annual Report 2009-2010 for The Public Trustee of Queensland. I certify that this Annual Report complies with: • the prescribed requirements of the Financial Accountability Act 2009 and the Financial and Performance Management Standard 2009, and • the detailed requirements set out in the Annual Report Requirements for Queensland Government Agencies. A checklist outlining the annual reporting requirements can be accessed at www.pt.qld.gov.au Yours sincerely Peter Carne The Public Trustee of Queensland 4 Jondaryan, Queensland. Courtesy of Tourism Queensland. Public Trustee of Queensland Brisbane, Queensland. Courtesy of Tourism Queensland. Year in review The 2009-10 financial year, has seen us build on our 94 years of tradition to ensure we will have a strong and sustainable future. The Public Trustee has endured since 1916 because of the relevance and quality of the services we provide to Queenslanders. During the year, my team of over 500 dedicated staff located across the State, have worked hard to ensure we achieve our vision – To be Queensland’s best providers of trustee and administration services. I thank them for their support and dedication as they embraced our priorities Peter Carne, The Public Trustee of Queensland. for change and assisted thousands of Queenslanders to plan for their futures. The forums also educated participants With Queensland’s ageing population about the many ways in which the rapidly increasing, it has never been more Queensland Civil and Administrative important to educate people about the Tribunal, The Adult Guardian and The Public importance of future planning. This year Trustee protect vulnerable people. our staff, in addition to preparing almost 24,000 free Wills for Queenslanders, The 2009-10 financial year was one of attended numerous speaking engagements economic pressure for many Queenslanders and events in their local regions to raise and we saw an increase in the number awareness. of cases where the Queensland Civil and Administrative Tribunal appointed The This year, I also personally supported Public Trustee as Administrator for people Planning for Life forums developed by unable to manage their financial affairs. the Department of Justice and Attorney- Sadly, this is often due to allegations of General. These forums held across the mismanagement or misuse of a vulnerable State, raised awareness of the need for person’s funds. all Queenslanders to have a valid Will and appoint an Enduring Power of Attorney. It has never been more important to educate people about the importance of future planning. 6 As Public Trustee of Queensland, I am As the State’s ageing population increases, committed to ensuring that we protect so will the number of people unable to the interests of these people who do not manage their financial affairs. It will be have capacity to manage their financial vital for Queensland’s community and affairs. Everyday we assist the thousands of justice system that we are prepared to meet Queenslanders for whom we are appointed this challenge and we ensure a smooth Financial Administrator and our legal team transition of wealth from generation to performs an outstanding role defending the generation. Our current strategic objective rights of some of these vulnerable clients. is to ensure we meet our increasing community service obligations while still In addition to protecting our clients’ legal remaining a sustainable and financially rights, we also protected their assets. viable organisation. This year, our investment team oversaw almost $1.17B in funds under management, a significant achievement in these economic times. We are committed to ensuring more Queenslanders can access During the financial year, we provided over $22.1M worth of Community Service our services and expertise Obligations to the people of Queensland, at no cost to the State Government. This For these reasons, the 2010-11 financial included preparing almost 24,000 Wills year and beyond will see us working hard to free of charge, managing the affairs of improve the quality and accessibility of our over 7,400 disability clients and acting as services. We will open a new Sunshine Coast Trustee for a number of leading Queensland Regional Office and continue to maintain community foundations and trusts. We also our services to the Nambour community. provided funding toward the operations of We are also re-developing our Redcliffe the Office of the Adult Guardian and the Regional Office to meet the region’s growing much needed Queensland Civil Law Legal population of retirees and increasing our Aid Scheme. services to the Redland Bay area. Our other achievements included We are committed to ensuring more commencing the implementation of our Queenslanders can access our services Strategic Plan 2009-2013, and reviewing our and expertise. The coming year will see us organisation through a workforce planning develop and implement strategies to better and development project. This project has meet the needs of people living in rural and seen us consult with our staff at all levels, in remote communities and Aboriginal and all our offices across Queensland. Torres Strait Islander people. The results of this review will be Just as we are encouraging our clients implemented in the next twelve months as to plan for their future, our current plans we increase our ability to respond to the for The Public Trustee’s future will ensure Queensland community’s changing needs, our sustainability and help meet the both now and in the future. Government’s Toward Q2 aim of creating a fairer Queensland for us all. 7 Our highlights Assisting disadvantaged Queenslanders We provided over $15M in funding for free or subsidised services to assist disadvantaged Queenslanders. These clients may not be able to afford our services or the legal protection they need. This support was supplied at no cost to
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