There were two items of business: 1. Formally call the Auditor to audit the 2007/08 annual statements; and 2. Review Council's Investment Policy, with specific reference to whether Council wishes to carry the cost of maturing existing investments early and transferring the funds to Treasury Bonds and other "tier 1" financial institutions.

Manager of Finance Lyndon Weatherstone said that "in the current market it is beyond the expertise of the staff" to advise the Council.

Cr Graham noted that "we're not the only one's meeting this morning. The cabinet are in Canberra and the G8 are in Washington, councils and boards everywhere are meeting."

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