the public trustee · the public trustee – mission to deliver a full range of professional,...

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.

The Public Trustee – Vision

To be Queensland’s best provider of trustee and administration services.

Annual Report

2009-2010

The Public Trustee

The Public TrusteeThe 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.

The Public Trustee Annual Report 2009-10 is available at: www.pt.qld.gov.au

Marketing and CommunicationPhone: (07) 3213 9339 Email: [email protected]

Interpreter Service StatementWe 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

Contact UsBRISBAneTrustee House, 444 Queen Street, Brisbane GPO Box 1449, Brisbane, QLD 4001 Phone: (07) 3213 9288 Email: [email protected] Website: www.pt.qld.gov.au

BundABeRgTrustee House, 189 Bourbong Street, Bundaberg GPO Box 860, Bundaberg, QLD 4670 Phone: (07) 4181 0800 Email: [email protected]

CAIRnSTrustee House, 27 Sheridan Street, Cairns PO Box 656, Cairns QLD 4870 Phone: (07) 4040 7300 Email: [email protected]

glAdSToneTrustee House, 66 Goondoon Street, Gladstone PO Box 5021, Gladstone QLD 4680 Phone: (07) 4962 1100 Email: [email protected]

IPSwIChTrustee House, 99 Brisbane Street, Ipswich PO Box 140, Ipswich QLD 4305 Phone: (07) 3432 6611 Email: [email protected]

MACkAyTrustee House, 18 Brisbane Street, Mackay PO Box 401, Mackay QLD 4740 Phone: (07) 4969 4600 Email: [email protected]

MARyBoRoughTrustee House, 88 Ellena Street, Maryborough PO Box 280, Maryborough QLD 4650 Phone: (07) 4183 0900 Email: [email protected]

MounT ISATrustee House, 18 Miles Street, Mount Isa PO Box 2000, Mount Isa QLD 4825 Phone: (07) 4764 0500 Email: [email protected]

nAMBouRTrustee House, 72 Currie Street, Nambour PO Box 402, Nambour QLD 4560 Phone: (07) 5444 9400 Email: [email protected]

RedClIffeTrustee House, 165 Sutton Street, Redcliffe PO Box 131, Redcliffe QLD 4020 Phone: (07) 3817 9100 Email: [email protected]

RoCkhAMPTonTrustee House, 67 East Street, Rockhampton PO Box 273, Rockhampton QLD 4700 Phone: (07) 4999 3600 Email: [email protected]

SouThPoRTTrustee House, 66 Nerang Street, Southport PO Box 876, Southport QLD 4215 Phone: (07) 5588 5333 Email: [email protected]

STRAThPIneTrustee House, 9/481 Gympie Road, Strathpine PO Box 313, Strathpine QLD 4500 Phone: (07) 3142 1900 Email: [email protected]

SunShIne CoAST Suite 1-3, 20 Innovation Parkway, Birtinya PO Box 49, Buddina QLD 4575 Phone: (07) 5314 1800

ToowooMBA

Trustee House, 447 Ruthven Street, Toowoomba PO Box 139, Toowoomba QLD 4350 Phone: (07) 4631 8100 Email: [email protected]

TownSVIlleTrustee House, 438 Flinders Street, Townsville PO Box 960, Townsville QLD 4810 Phone: (07) 4753 0111 Email: [email protected]

© No part of this Annual Report may be reproduced in any format without the written approval of The Public Trustee of Queensland.

ABN 12 676 939 467

For more information about the services of The Public Trustee please visit www.pt.qld.gov.au

Regional Service delivery

Cairns

Townsville

Mount IsaMackay

Rockhampton

gladstoneBundaberg

Maryborough

nambourRedcliffeStrathpineBrisbane Metro

SouthportIpswich

Toowoomba

Sunshine Coast

1

Our Purpose

To provide professional and accessible services in:

• DeceasedEstateAdministration

• Trusts

• Willmaking

• Financialmanagementforthosewithimpairedcapacity

• Facilitatingphilanthropy.

Our Values

Client Service

• Strivingforexcellenceineverythingwedo

• Developingenduring,respectfulandcompassionaterelationshipswithourclients

• Respondingtonewandemergingclientneeds.

Integrity

• MaintainingthehigheststandardsofethicalpracticeasTrusteesandAdministrators.

Accountability

• Weareresponsibleforouractions,decisionsandperformance

• Westrivefortransparencyindecision-makingandrelevanttimelydisclosuretoourclientsandtheircarers.

Our Ethics

Weconductouraffairsincompliancewithapplicablelawsandregulations,observingthehigheststandardsofprofessionalandbusinessethics.

ACodeofConductappliestoallouremployeesandaccordswiththeprinciplesofthePublic Sector Ethics Act 1994.


TobeQueensland’sbestprovideroftrusteeandadministrationservices.


Todeliverafullrangeofprofessional,accessibleandreliable,trustee,

financialandrelatedservicesinasupportive,compassionate

andethicalmanner.

OurVisionandMission

ContentsOur Vision and Mission 1

Public Trustee of Queensland 5

Yearinreview 6

Ourhighlights 8

Achievementsagainstour StrategicPlan2009-2013 9

OurToward Q2achievements 11

Ourdisabilityandtrustclients 15

Sustainability 16

AboriginalandTorresStrait Islanderpeople 18

OurCommunityServiceObligations 19

Ourfinancialhighlights 21

Our Corporate Governance 25

Ourcorporategovernance framework 26

Ourorganisationalstructure 28

Ourboardsandcommittees withexternalmembers 33

Internalcommitteesand workinggroups 34

Client Services 37

ClientServices 38

Our Regional Offices 42

Ourregionaloffices 43

Philanthropic Trusts 51

PhilanthropicTrusts 52

Office of the Official Solicitor 57

OfficeoftheOfficialSolicitor 59

Organisational Support 64

OrganisationalSupport 65

Investment Services 69

InvestmentServices 70

Human Resources 75

HumanResourceManagement 76

Financial Statements 83

Investment Trusts 113

Legislation 134

Glossary 135

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22September2010

TheHonourableCameronDickMPAttorney-GeneralandMinisterforIndustrialRelations18thFloor,StateLawBuilding50AnnStreetBrisbaneQld4000

DearAttorney-General

IampleasedtopresenttheAnnualReport2009-2010forThePublicTrustee ofQueensland.

IcertifythatthisAnnualReportcomplieswith:• theprescribedrequirementsoftheFinancial Accountability Act 2009andtheFinancial

and Performance Management Standard 2009,and

• thedetailedrequirementssetoutintheAnnual Report Requirements for Queensland Government Agencies.

Achecklistoutliningtheannualreportingrequirementscanbeaccessedat www.pt.qld.gov.au

Yourssincerely

PeterCarneThePublicTrusteeofQueensland

PublicTrustee ofQueensland

Jondaryan, Queensland. Courtesy of Tourism Queensland.

Brisbane, Queensland. Courtesy of Tourism Queensland.

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The2009-10financialyear,hasseenusbuildonour94yearsoftraditiontoensurewewillhaveastrongandsustainablefuture.ThePublicTrusteehasenduredsince1916becauseoftherelevanceandqualityoftheservicesweprovidetoQueenslanders.

Duringtheyear,myteamofover500dedicatedstafflocatedacrosstheState,haveworkedhardtoensureweachieveourvision – To be Queensland’s best providers of trustee and administration services.IthankthemfortheirsupportanddedicationastheyembracedourprioritiesforchangeandassistedthousandsofQueenslanderstoplanfortheirfutures.

WithQueensland’sageingpopulationrapidlyincreasing,ithasneverbeenmoreimportanttoeducatepeopleabouttheimportanceoffutureplanning.Thisyearourstaff,inadditiontopreparingalmost24,000freeWillsforQueenslanders,attendednumerousspeakingengagementsandeventsintheirlocalregionstoraiseawareness.

Thisyear,IalsopersonallysupportedPlanning for LifeforumsdevelopedbytheDepartmentofJusticeandAttorney-General.TheseforumsheldacrosstheState,raisedawarenessoftheneedforallQueenslanderstohaveavalidWillandappointanEnduringPowerofAttorney.

TheforumsalsoeducatedparticipantsaboutthemanywaysinwhichtheQueenslandCivilandAdministrativeTribunal,TheAdultGuardianandThePublicTrusteeprotectvulnerablepeople.

The2009-10financialyearwasoneofeconomicpressureformanyQueenslandersandwesawanincreaseinthenumberofcaseswheretheQueenslandCivilandAdministrativeTribunalappointedThePublicTrusteeasAdministratorforpeopleunabletomanagetheirfinancialaffairs.Sadly,thisisoftenduetoallegationsofmismanagementormisuseofavulnerableperson’sfunds.

Yearinreview

Ithasneverbeenmoreimportanttoeducatepeopleabouttheimportanceoffutureplanning.

Peter Carne, The Public Trustee of Queensland.

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AsPublicTrusteeofQueensland,Iamcommittedtoensuringthatweprotecttheinterestsofthesepeoplewhodonothavecapacitytomanagetheirfinancialaffairs.EverydayweassistthethousandsofQueenslandersforwhomweareappointedFinancialAdministratorandourlegalteamperformsanoutstandingroledefendingtherightsofsomeofthesevulnerableclients.

Inadditiontoprotectingourclients’legalrights,wealsoprotectedtheirassets. Thisyear,ourinvestmentteamoversawalmost$1.17Binfundsundermanagement,asignificantachievementintheseeconomictimes.

Duringthefinancialyear,weprovidedover$22.1MworthofCommunityServiceObligationstothepeopleofQueensland,atnocosttotheStateGovernment.Thisincludedpreparingalmost24,000Willsfreeofcharge,managingtheaffairsofover7,400disabilityclientsandactingasTrusteeforanumberofleadingQueenslandcommunityfoundationsandtrusts.WealsoprovidedfundingtowardtheoperationsoftheOfficeoftheAdultGuardianandthemuchneededQueenslandCivilLawLegalAidScheme.

OurotherachievementsincludedcommencingtheimplementationofourStrategic Plan 2009-2013,andreviewingourorganisationthroughaworkforceplanninganddevelopmentproject.Thisprojecthasseenusconsultwithourstaffatalllevels,inallourofficesacrossQueensland.

TheresultsofthisreviewwillbeimplementedinthenexttwelvemonthsasweincreaseourabilitytorespondtotheQueenslandcommunity’schangingneeds,bothnowandinthefuture.

AstheState’sageingpopulationincreases,sowillthenumberofpeopleunabletomanagetheirfinancialaffairs.ItwillbevitalforQueensland’scommunityandjusticesystemthatwearepreparedtomeetthischallengeandweensureasmoothtransitionofwealthfromgenerationtogeneration.Ourcurrentstrategicobjectiveistoensurewemeetourincreasingcommunityserviceobligationswhilestillremainingasustainableandfinanciallyviableorganisation.

Forthesereasons,the2010-11financialyearandbeyondwillseeusworkinghardtoimprovethequalityandaccessibilityofourservices.WewillopenanewSunshineCoastRegionalOfficeandcontinuetomaintainourservicestotheNambourcommunity.Wearealsore-developingourRedcliffeRegionalOfficetomeettheregion’sgrowingpopulationofretireesandincreasingourservicestotheRedlandBayarea.

WearecommittedtoensuringmoreQueenslanderscanaccessourservicesandexpertise.ThecomingyearwillseeusdevelopandimplementstrategiestobettermeettheneedsofpeoplelivinginruralandremotecommunitiesandAboriginalandTorresStraitIslanderpeople.

Justasweareencouragingourclientstoplanfortheirfuture,ourcurrentplansforThePublicTrustee’sfuturewillensureoursustainabilityandhelpmeettheGovernment’sToward Q2aimofcreatingafairerQueenslandforusall.

WearecommittedtoensuringmoreQueenslanderscanaccessourservicesandexpertise

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Ourhighlights

Assisting disadvantaged Queenslanders Weprovidedover$15MinfundingforfreeorsubsidisedservicestoassistdisadvantagedQueenslanders.Theseclientsmaynotbeabletoaffordourservicesorthelegalprotectiontheyneed.ThissupportwassuppliedatnocosttotheQueenslandGovernment.Visitpage19tofindoutabouttheseCommunityServiceObligations.

Supporting adults with impaired capacityWeassistedover7,400clientswithimpairedcapacitytomanagetheirfinancialaffairsinourroleastheirAdministrator.Includingpreparingover3,000taxreturnsonbehalfofourclients.Visitpage15tofindoutmore.

Philanthropy – Queenslanders helping QueenslandersWeactedasTrusteeforsomeofQueensland’sleadingphilanthropictrustsandfoundations.Indoingthiswedistributedover$1.24Mtocharitableandnot-for-profitorganisationsacrosstheState.Visitpage52tofindoutmore.

Our services stretched across QueenslandOur16regionalofficesreachfromSouthporttoCairns,MountIsaintheWestandToowoombaintheSouthWest.TobetterserveQueenslandwemadetravellingWillvisitsandpartneredwithCourthouses,CentrelinkOfficesandQueenslandGovernmentAgencyProjectOffices.Visitpage43tofindoutmore.

Planning for Life – Wills and Estate servicesWearethelargestprovideroffreeWillsinAustralia,withalmost24,000Willspreparedthisyear.Wealsopreparedalmost3,600EnduringPowersofAttorneyandadministeredalmost2,500newDeceasedEstates.Visitpage38 tofindoutmore.

A significant Trustee organisationWeprotected$1.17Binfundsundermanagement,anincreaseof7.6%overthepreviousyear.Investmentreturnsformulti-sectorPublicTrusteeInvestmentFundsrelativetoourbenchmarkwerethebestinfouryears.Visitpage70tofindoutmore.

Going under the hammer – auctions and valuationsWeconductedover385auctions,sold172houses,5612motorvehiclesandincreasedoursalesoffurnitureandcomputersby16%,withover17,084lotsgoingunderthehammer.Wealsoarranged1,385valuationsonbehalfofDeceasedEstateandTrustClientsacrossQueensland.Visitpage65tofindoutmore.

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AchievementsagainstourStrategicPlan2009-2013Ourstrategicplanoutlinesourvision,valuesandprimaryobjectivesfor2009–2013. Thisyearwemadethefollowingachievementsagainsttheplan.

Our Primary Objectives: For the 2009-10 financial year we:

Delivering core services consistent with our legislative mandate in a commercial and client responsive manner.

• Experiencedsteadygrowthofourcoreservicesandpreparedalmost24,000Willsandalmost3,600EnduringPowersofAttorney.

• MetourobjectivestobethepreferredFinancialAdministratorforadultswithimpairedcapacity.

• IncreasedourWillsby14.6%,ourEnduringPowersofAttorneyby7.1%,ourDeceasedEstatesby2.3%andourTestamentaryTrustsby3.6%.

• IncreasedouroutreachservicessomoreQueenslanderscanaccessourfreeWillmakingserviceandhavetheirEnduringPowerofAttorneydrafted.

• PlannedfortheimplementationofClientServicesCentrestoensuremoreefficientandcosteffectiveservicedelivery.

• FinalisedourClientServicesoperationalplanswithourregionaloffices.

• ContinuedtoengagethecommunitythrougheducationforumsandinformationsessionsheldacrossQueensland.

• IncreasedfundsinourPhilanthropicTrustsundermanagementto$64M.

• Deliveredover$22.1MinCommunityServiceObligationsatnocosttotheQueenslandGovernment.

• Undertooksignificantplanninganddevelopmentofournewofficelocationstoexpandourservices.IncludingournewSunshineCoastRegionalOfficeopeninginAugust2010,whileensuringourNambourOfficekeepsservingthecommunity.WealsocommencedworkonourRedcliffeRegionalOfficetoensureitsaccessibilitytoourclientsandarrangedincreasedWillandEnduringPowersofAttorneymakingservicesintheRedlandBayregion.

• UndertooksignificantexpansionofthelearninganddevelopmentfunctionwithinHumanResources.Thisresultedinanincreaseinthetrainingbudgetandthenumberoftrainingstaff.

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Our Primary Objectives: For the 2009-10 financial year we:

Generating sufficient surpluses to fund a broad range of Community Service Obligations in line with the Government’s social objectives.

• ReviewedourinvestmentobjectivesandtheinvestmentstrategyofourCommonFundtoensureourinvestmentassetsandfundliabilitiesaremanagedinariskcontrolledenvironment.

• ReviewedthefeestructureofThePublicTrusteeInvestmentFundsandimplementedarevisedfeestructureon1January2010.

• Increasedourresourcesinourregionalofficestomeetincreasingcustomerdemand.

• Re-designedanddevelopedClientTransactionStatementsthatcanbeautomaticallygenerated.Thesewillberolled-outinthe2010-11financialyear.

• Re-negotiatedouragreementwithQFleettoauctiontheirsurplusvehiclesforafurtherthreeyears.

• Introducednewtechnologytoincreasestaffproductivity,includingrolling-outreportwritingsoftwareandhandheldPDAsystemsforourpropertyandvaluationsstaff.

• Re-structuredourformerPublicAffairsUnitandrecruitedaDirectorofMarketingandCommunicationtoassistustodevelopourbrandawarenessandimplementanintegratedmarketingandcommunicationstrategyinthe2010-11financialyear.

• UndertookareviewofourPropertyUnitincludingassessingthestructureandthefees,withimprovementsimplementedaccordingly.

Meeting the needs of all current and future PTO clients in an ethical, professional and responsive way.

• EnsuredstafftrainingwasprovidedtoallClientServicesstaffsotheycouldbetterunderstandtheneedsofclientswithadisability.

• Increasedourlearninganddevelopmentopportunities.TrainingincludingWillsanddocumentstraining,complaintsmanagementtraining,induction,codeofconductandservingclientswithadisability.

• CommencedprojectplanningtoestablishanewdocumentstoragefacilitytomeettheneedsoftheOfficeandhelpmeetQueenslandStateArchivesrecordkeepingstandards.

11

OurToward Q2achievementsAsastatutorybodythatreportstotheQueenslandParliamentthroughtheAttorney-General,wehaveembracedtheGovernment’sToward Q2VisionforQueensland’sFuture.InadditiontoachievingourstrategicgoalswehavealsocontributedtotheToward Q2Vision.

Toward Q2 Priority

What we said in our Strategic Plan 2009-2013

Initiatives this financial year towards achieving these objectives.

Strong OurStrategic Plan 2009-2013 is directedtoachievingsustainablelong-termviability.ThisistoensurethedeliveryofservicesconsistentwiththelegislativemandateoftheOfficeinacommercialandclientresponsivemannerandtogeneratesufficient‘surplus’tofundCommunityServiceObligations

• Despitetheeconomicdownturnweprotectedour$1.17Bfundsundermanagement.

• Delivered$22.1MinCommunityServiceObligationstoQueenslandatnocosttotheQueenslandGovernment.

• Wearegeographicallystrongwith16officeslocatedacrossQueenslandservingthestate’smajorpopulationregions.WealsohavestrongrelationshipswithotherserviceproviderssuchasCourthouses,CentrelinkOfficesandQueenslandGovernmentAgencyProjectOfficesinareaswherewedon’thaveanOfficelocation.OurstaffalsoperformregularWillmakingvisitstoareaswithoutaregionaloffice.

• Developedourleadershipgoalsandarecontinuallyimplementingthemacrosstheorganisation.

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Toward Q2 Priority



Green WeaimtominimisetheenvironmentalimpactofThePublicTrustee,inrespectoftheaccommodationweownandthewayinwhichwegoaboutourwork.

• OurnewofficesaredevelopedwithAustralianGreenhouseratingsinmind.Wherepossiblewehaveinstalledenergyefficientlighting,watersavingdevices,sensorsandenergyefficientair-conditioning,reflectivewindowsandheatreflectingroofinginourfit-outs.

• Implementedanumberofwaste,waterandenergysavinginitiativesresultinginasavingof:

– 1.919,267kwhsavingin powerusage

– $143,000onenergyrelatedexpenses

– 624CO2-eingreenhouseemissionswhichisequivalenttoplanting782trees

– 40%incleanpaperfortheyearasweencouragedourstafftoreducewaste,recycleandusepaperlesselectronictechnology.

Smart AspartofourStrategic Plan 2009-2013wewilldevelopacomprehensiveworkforceplan.Wewillensureourstaffareproperlyandfullytrainedandskilledtoserveourdiverseclientbase.

• Assessedourtrainingneedsforallouroperationstreamsandthelearninganddevelopmentneedsofstaffatmiddleandseniormanagerlevel.

• IncorporatedourCapabilityLeadershipFramework(CLF)intoourroledescriptionsandtrainingresponsestoensureincreasedreadinessofnewandexistingstaff.

• Deliveringspecialisttraininginprojectmanagement,complaintsmanagementtraining,Willstraining,corporateinductionandservingclientswithadisability.

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Toward Q2 Priority



Smart ThePublicTrusteeintendstofurtheritsinnovativeuseoftechnologyinsupportoftheservicesitprovides.

• ContinuedourpartnershipwiththeUniversityofQueensland–SchoolofSocialWorkandHumanServicesUnittosupportresearchinto“Financing and Management of Lifetime Care of Adults with Acquired Disability and High Care Needs.”

• ContinuedthedevelopmentofourhighlysuccessfulClientInformationSystem(CIMS).

• Deliveredcommunityeducation andawarenesssessionsthroughouttheState.

• SupportedTheDepartmentofJusticeandAttorney-General’sPlanning for LifeforumstopromotetheimportanceofallQueenslander’shavingavalidWill,HealthandPersonalAttorneyandFinancialAttorney.ThesealsoraisedawarenessofhowtheQueenslandCivilandAdministrativeTribunal,TheOfficeoftheAdultGuardian,ThePublicAdvocateandThePublicTrusteeoperatetoprotectvulnerableQueenslanders.

• ImprovedourWillMakingtrainingfornewemployeesanddeliveredrefreshertrainingwithacustomerservicefocusforstaffinvolvedintheWillMakingprocess.

Healthy ThroughourStrategic Plan 2009-2013 andaspartofourworkforceplanningwewillfocusonthehealthandthecapacityofourstaff.

• Deliveredongoingawarenessandpracticallybasedtrainingondisability,mentalhealthandpro-socialbehaviours.Thissupportsservicedelivery,minimisespotentialstressandhelpsimprovesafetyforourstaff.

• Providedfreeaccesstoacounsellingserviceforourstaff.

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Toward Q2 Priority



Fair ThePublicTrustee’sStrategic Plan 2009-2013isintendedtoensurethatstaffarefairlymanaged,appropriatelyskilledanddeveloped.ThecentralpurposeoftheOfficeistoprovideimportantservicestothepeopleofQueensland,partofthedeliveryofafairandjustsociety.ThePublicTrusteeinthisregardintendsto:

• ProvideaWillmakingservice toensurethatallQueenslandershaveaccesstothepreparationofavalidWillinordertoavoidthecostsandexpensesofintestacies.

• ContinuetoactasAdministratorforadultswithimpairedcapacitywheresuchappointmentsareappropriate.AdministratorsarepartofaGuardianshipframeworkwithinQueenslandthatseekstoappropriatelyassistadultswithsuchincapacitieswhilstbalancingtheadults’needandrighttoparticipationindecision-making.

• ThePublicTrusteewillextenditsroleasaTrusteeforphilanthropictrustswhichhaveattheircentrecharitablepurposesdirectedtoimprovingaspectsoflifeinQueensland.

• Deliveredover$22.1MinCommunityServiceObligationstothecommunityatnocosttotheQueenslandGovernment.

• ExpandedourWillMakingservicetoensureweareaccessibletomoreQueenslanders.IncludingopeninganewSunshineCoastRegionalOffice,whileretainingourNambourOffice.IncreasingourservicesintheRedlandBayareaandrefurbishingourRedcliffeOfficetocatertothisgrowingregion.

• DeliveredincreasedservicesthroughanextensivenetworkofCourthousesandCentrelinkOfficesandQGAPagentsacrosstheStatetoenhancedeliveryofourservicesinruralandremoteareas.

• MaintainedourleadroleasFinancialAdministratorforadultswithimpairedcapacityasappointedbytheQueenslandCivilandAdministrationTribunal.Oftenthisisasaresultofallegationsofabuseormismanagementoffunds.

• EducatedourClientServicesstaffabouttheimportanceofmeetingtheneedsofourclientswithinourDisabilityServiceStandards.

• Providedsecure,independent,andaccountableTrusteeservicesforanumberofphilanthropiccommunityfoundations.Weapprovedgrantsof$1.24MtobeusedforphilanthropicpurposesacrossQueensland.

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OurdisabilityandtrustclientsWeprovideacosteffectivefinancialmanagementservicetoourclients.Thisincludesaccesstoinvestment,legal,propertyandassociatedservices.

OurDisabilitySupportOfficerprovidesspecialisedassistanceandadviceaboutarangeofdisabilityrelatedmatters.ThiscanincludeprovidingTrustOfficerswithinformationaboutgovernmentandnon-governmentservices,specialistmedicalequipment,homeandvehiclemodificationandaccommodationsupportservices.

OurDisabilitySupportOfficeralsohelpstoidentifysupportservicesthatourindividualclientsmightrequire.Thisserviceisprovidedatnocosttoourclients.

WeactforourclientsinaccordancewiththeGeneralPrinciplesassetoutintheGuardianship and Administration Act 2000.

OurDisability Service Standardsareto:

• Promoteparticipationinplanninganddecision-makingbyclients,theirfamiliesandotherkeypeople

• Ensurethatclientsaretreatedasindividuals

• Recogniseandrespondtodiversity

• Promoteindependenceandquality of life

• Provideaccountabilityinpracticesandprocedures.

WithQueenslandexperiencingarapidincreaseinitsageingpopulation,thenumberofadultswithanincapacityisalsoincreasing.Werecognisethisgrowingneedandarecommittedtoprovidingaccessibleservicestothisgrowinggroup ofQueenslanders.

WeareoftenrequestedtoassistQueenslanderswhoareunabletomakedecisionsaboutfinancialmattersthemselves.ThiscanoccurfollowingourappointmentasFinancialAdministratorunderanOrderoftheCourtorbytheQueenslandCivil&AdministrativeTribunal.

Ourregionalofficesprovidearangeofservicestailoredtoourclient’sindividualneeds.Westrivetoprovideourclientswiththeindividualsupporttheyrequire.

AskilledTrustOfficerisassignedtoeachofourindividualclientstomanagetheirfinancialaffairs.Thisincludesdevelopingabudgettosupporttheperson’slifestyle,whileensuringweconsidertheirneedsbothnowandintothefuture.

Wehelpeachclientaccordingtotheassistancetheyrequiresuchasmanagingfinancialaffairsandpayingsomeoralloftheirbillsincluding:

• Accommodation

• Livingexpenses

• Insurance

• Medicalandpharmaceuticalexpenses

• Propertycostssuchasratesandinsurance.

Disability service 2005-06 2006-07 2007-08 2008-9 2009-10

Newclients 760 866 849 1,023 924

Currentclients 6,277 6,535 6,784 7,142 7,403

Valueofassetsundermanagement

$709,391,426 $808,579,023 $820,713,694 $822,422,039 $862,496,665

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SustainabilityOur energy savings

Oursavingsperannumhavebeencalculatedat:

• 1,919,267kwhsavinginpowerused

• $143,000savingonenergyrelatedexpenses

• 624CO2-ereductioningreenhouseemissionswhichisequivalent toplanting782treeseachand everyyear.

Water

Wecompletedwatersavinginitiativesin444QueenStreet.Wehavealsoimplementedwatersavingdevicesinanumberofourregionaloffices.Thishasincludedinstalling:

• Waterflowrestrictiondevices

• Dualflushtoilets,waterlessandwaterreducingurinals

• Watersavingtapandshower-rosefittings.

Thisyearwereducedourcarbonfootprint,ouruseofresourcesandensuredwesupportedtheGovernment’sToward Q2 – Greenpriority.Weachievedthe followingsavings.

Energy

Wecontinuedtointroducemeasurestoreducetheenergyconsumptionandgreenhouseemissions.

Weimplementedmeasurestoraiseour444QueenStreetbuilding’sAustralianBuildingGreenhouseRatingfrom1.5to4.0by:

• Installingabuildingmanagementsystem

• Replacingtheliftdrivesystemwithamoreefficientalternative

• Modernisingair-conditioningcontrolstoobtainenergyefficiency

• Installinglightingcontrolstoreducepowerusage

• Installingenergyefficientfluorescentdown-lightsinallfoyers.

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Making energy savings

Energy Savings at Cairns Regional Office

Weinstalledenergyefficientair-conditioning,dualtintingonwindowsandexternallouversatourCairnsBuilding.Thishasresultedina40%reductioninelectricitycostsandasignificantreductioninourcarbonfootprint.

Southport Regional Office reducing power costs

WeinstallednewwindowgrillsandanewroofcoatingonourSouthportbuilding.Thesemeasureswilllowertheinternalrooftemperatureby10degreesandtheair-conditioningplantwillrunmoreefficientlyanduselesspower.

Vehicles

TosupportQueenslandGovernmentinitiativesinvehicleemissionsreduction,weleasedmotorvehiclesfromQFleetthathaveaminimumGVGGreenhouseratingof5.5.

Waste management

Thisyearwemaintainedourexisting wastereductionpolicy.Measuresweundertookincluded:

• Reducingpaperwaste

• Usingtheinternetforauctioncatalogues

• Weeklypaperandcardboardrecycling

• Installationofduplexprinters

• UsingPlanetArctodisposeofusedtonercartridges.

Our waste management savings

Approximately40%incleanpaperrequirementsweresavedthroughoutthefinancialyear.

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AboriginalandTorresStraitIslanderpeopleThisfirstroundofgrantssawthedistributionofover$550,000inscholarshipstoassistanumberofAboriginalandTorresStraitIslanderyoungpeopletocompletetheirseniorschooling.

Inachallengingeconomicclimate,ThePublicTrusteeofQueenslandsafeguardedtheperpetualcapitalofboththeGulfAreaCommunitySocialDevelopmentTrustandQueenslandAboriginalandTorresStraitIslanderFoundationtoensurethatthesefundswillgrowandbenefitfuturegenerationsofAboriginalandTorresStraitIslanderPeople.

The2010-11financialyear,willseeusdevelopandimplementwaystoimprovetheaccessibilityofourservicestoAboriginalandTorresStraitIslanderpeople.WearecurrentlydevelopingprojectstoengageanIndigenousLiaisonOfficerandensurethatourfutureinformationbrochuresareaccessibletoAboriginalandTorresStraitIslanderpeople.

InlinewiththeQueensland Government Reconciliation Action Plan 2009-12, thisfinancialyearwecommencedanevaluationoftheservicesweprovidetoAboriginalandTorresStraitIslanderpeople.

In2009-10,ThePublicTrusteeofQueenslandprovidedTrusteeservicestotheGulfAreaCommunitySocialDevelopmentTrust.WeassistedtheTrusttomakegrantstotallingmorethan$300,000tosupportIndigenouscommunitydevelopmentprogramsandorganisationsinMornington,Burketown,Doomadgee,Cununa,NormantonandMountIsa.

ThisyearalsosawtheinauguralgrantroundoftheQueenslandAboriginalandTorresStraitIslanderFoundation,forwhichthePublicTrusteeofQueenslandprovidesTrusteeservices.

distributingover$550,000inscholarshipstoassistanumberofAboriginalandTorresStraitIslanderyoungpeople

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OurCommunityServiceObligationsTheobjectivesofourWillandEnduringPowerofAttorneyservicesareto:

• AssistQueenslandersbymakingtheirWillandEnduringPowerofAttorney.

• Whererequested,providemembersofthecommunitywiththeassurancethatthePublicTrusteeofQueenslandwillactastheirAttorney.

• Ensureanorderlysuccessionofpropertybetweengenerations,withminimumrecoursetotheCourtsystem.

• Facilitateindividualmembersofthecommunitytobeabletospecifywhowillmanagetheirassets,ratherthanthroughanordermadebytheQueenslandCivilandAdministrativeTribunal.

• MeetarequirementbyGovernmenttoensurethecorrectmanagementoftheassetsofmembersofthecommunitywithaminimumrecoursetoQueenslandCivilandAdministrativeTribunalortheCourts.

ThePublicTrusteeisaselffundingorganisationthatreceivesnofinancialassistancefromtheQueenslandGovernment.

Thisyearweprovidedover$22.1MinCommunityServiceObligationsatnocost totheQueenslandCommunity.

Giving all Queenslanders access

to a free Will making service

WeprovideafreeWillmakingservicetoallQueenslandersover18.ThecostofourfreeWillmakingservicefor2009-10was$3.6M.

Supporting an increase in

Enduring Powers of Attorney

EnduringPowersofAttorneyaremadefreeofchargewhenThePublicTrusteeofQueenslandisappointedasPrincipalAttorney.IfanEnduringPowerofAttorneyisdraftedappointinganotherparty,acompetitivecommercialchargeismade forthiswork.

20

Supporting The Office of

The Adult Guardian

TheOfficeofTheAdultGuardianprotectstherightsofadultswithimpairedcapacity.UnderthePublic Trustee Act 1978,wecontributefundingapprovedbytheAttorney-GeneraltoassisttheOfficeoftheAdultGuardiantoundertakeitsactivities.Wecontributed$969,000in2009-10.

Managing the commercially

uneconomical affairs of adults

with impaired capacity

WhenweareappointedasAdministratorundertheGuardianship and Administration Act 2000,ThePublicTrusteeofQueenslandbecomesthefinancialdecision-makerfortheseclientswithimpairedcapacity.

Forsomeoftheseclientsthecostsoftheiradministrationandlegalservicesexceedstheirabilitytopay.

Ourmanagementoftheseclients’affairsmayextendtotheirfinancialaffairs,facilitatingmeetingsandwhereappropriateinformationsharingwithfamily,careprovidersandgovernmentandnon-governmentagencies.

Thecostofprovidingtheseservicesfor2009-10wasover$15M.

Civil Law Legal Aid Scheme

WepartnerwithLegalAidQueenslandtoprovidetheCivilLawLegalAidScheme.ThisschemeassistsQueenslanderswithlimitedfinancialmeanstopursuecivillawactionsintheCourts.Wemadegrantsofalmost$898,000tosupportthisvitalschemethisfinancialyear.

Free advice to the community

Lastyearweprovidedfreeadvicetothecommunity,courtsandtribunalsinareas inwhichwehaveexpertiseincluding:

• Adultswithimpairedcapacity

• DeceasedEstates

• AttorneysandEnduringPowers ofAttorney

• TrustAdministration.

Costtoprovidethisadviceforthe2009-10financialyearwasalmost$1.8M.

Supporting the administration

of commercially uneconomical

Deceased Estates

AspartofourcommunityserviceobligationswereduceourfeesandchargesforcertainEstatesthataredeemedtobecommerciallyuneconomicaltoadminister.Also,insomecaseswherethebeneficiarieshavelimitedfinancialmeanstheGovernmenthasapprovedthatsomecostsinvolvedintheEstatemayberebated.Thecostofadministeringtheseestatesinthe2009-10financialyearwasover$61,000.

Prisoners

UnderSection7ofthePublic Trustee Act 1978,wemanagetheestatesofprisonerswhoareconvictedofanindictableoffenceandwhoareservingsentencesofthreeyearsormore.

TheseprisonersarerequiredtoobtaintheconsentofThePublicTrusteeofQueenslandpriortodefendingorinstitutingcivilproceedings.Thecostofprovidingthisservicein2009-10wasalmost$62,000.

21

Ourfinancialhighlights

IncomeandinfurtherdetailinthenotestotheFinancialStatements.AdditionalinformationastotheCommunityServiceObligationservicesprovidedissetoutlaterinthisreport.

Totalincomegrewfrom$66.9Minthe yearended30June2009to$79.6Min theyearended30June2010.Expenses fellfrom$76.5Mto$70.2Minthecomparativeperiods.

90

80

70

60

50

40

30

20

10

0 2006 2007 2008 2009 2010

Revenue Expenses

$m Revenue & Expenses

InlinewiththeFinancial Accountability Act 2009,ourChiefFinancialOfficerhasfulfilledtheminimumresponsibilityrequiredbytheAct.TheChiefFinancialOfficerhasprovidedThePublicTrusteeofQueenslandwithastatementaboutfinancialcontrolsinaccordancewithSection 57 of the Financial and Performance Management Standard 2009.

Statement of comprehensive income

ThePublicTrusteereturnedanoperatingsurplusof$9.4MafterprovidingCommunityServiceObligations,atnocosttoGovernment,totaling$22.1M.Theincreaseinoperatingsurpluswasprimarilyduetomarketrevaluationoffinancialassetsof$8.2M.Theincreaseinmarketrevaluationoffinancialassetsrepresentsabookgainandisnotarealisedcashflow.Therevaluationoffinancialassetsrepresentsasignificantturnaroundfromtheprioryear,whereabooklossof$6.8Mwasbroughttoaccountin2008-09.Generally,investmentsintheportfolioareheldtomaturitywhichhastheeffectofreversingthebooklosses.

ThecontributionbyThePublicTrusteetoGovernmentthroughourCommunityServiceObligationsisshownintherevenuelineitemsoftheStatementofComprehensive

22

Statement of financial position

Assetsdecreasedfrom$538.9Mintheyearended30June2009to$527.3Mintheyearended30June2010.Liabilitiesdecreasedfrom$390.7Mto$370.2Minthecomparativeperiods.

ThedecreaseintheassetsandliabilitieswasmainlyduetoclientfundsbeingplacedinThePublicTrustOfficeInvestmentFunds.

Thevaluesshownforassetsincludetheoperatingprofitfortheyear,theindexedrevaluationofalllandandthemarketrevaluationofotherfinancialassetsthatareheldavailable-for-saleconsistentwithaccountingstandards.

500

400

300

200

100

0 2006 2007 2008 2009 2010

Assets Liabilities

$mAssets & Liabilities

Statement of changes in equity

Intheyearended30June2010,theequityofThePublicTrusteeincreasedfrom$148.2Mto$157.1M.Thisincreaseincludedtheoperatingprofitfortheyearandthemarketrevaluationofotherfinancialassetsthatareheldavailable-for-sale,consistentwithaccountingstandards.

160

150

140

130

120

110

100 2006 2007 2008 2009 2010

$mEquity

*Market revaluation of financial assets of 8.2M, refer to page 21.

23

Budget vs Actual

Statement of Comprehensive Income for the year ended 30 June 2010 Actual2010 Actual

$0002010 Budget

$000Variance

$000Variance

%

Income

Revenue

Feesandcharges 67,787 58,837 8,950 15%

Lesscommunityserviceobligations

(22,185) (21,212) (973) 5%

Interest 22,454 17,883 4,571 26%

DistributionRevenue 1,796 5,827 (4,031) (69%)

Otherrevenue 1,253 1,286 (32) (3%)

71,105 62,620 8,485 14%

Gains/(Losses)

(Loss)onsaleofproperty,plantandequipment

- - - -

Gain/(Loss)onrevaluationofotherfinancialassetsheldatfairvalue

5,485 - 5,485 100%

Gainonsaleofavailableforsalefinancialassets

282 - 282 100%

Gain/(Loss)onrevaluationofunitbasedcashfund

2,746 - 2,746 100%

8,512 - 8,512 100%

Total Income 79,618 62,620 16,998 27%

Expenses

Employeeexpenses 37,521 37,552 31 0%

Suppliesandservices 19,340 17,409 (1,931) (11%)

Depreciation 1,622 1,516 (105) (7%)

Amortisation 129 192 63 33%

InterestpaidtoClients 8,516 7,560 (956) (13%)

Otherexpenses 3,087 879 (2,209) (251%)

Total Expenses 70,215 65,108 (5,107) (8%)

Operating Surplus/(Deficit) 9,403 (2,488) 11,891 *478%

Other Comprehensive Income

Increase/(decrease)inassetrevaluationsurplus

(2,802) - (2,802) 100%

Netgain/(loss)onavailable-for-salefinancialassets

2,330 - 2,330 100%

Total Other Comprehensive Income

(473) - (473) 100%

Total Comprehensive Income 8,930 (2,488) 11,418 459%

24

Client fees and charges

ThescaleoffeesusedbyThePublicTrusteeisdesignedtoreflectafairchargefortheservicesprovided.TheGovernmenthasapprovedthattheinterestsofdisadvantagedclientsbeprotectedbywayofaschemeofCommunityServiceObligationsubsidiesforthesefees.Thesubsidiesareappliedbywayofdirectrebatesatthetimeofchargingthefees,placingnoobligationuponclientstopayandseekreimbursement.Thedirectrebatesincreasedto$15M,themajorpartofthe$22.1MofCommunityServiceObligationservicesprovidedbyThePublicTrusteeduringtheyearended30June2010.

TheamountoftheCommunityServiceObligationrebatescontinuestoincreaseeachyear,risingby7.1%intheyearended30June2010.Thisisinlinewiththeincreaseinadultswithimpairedcapacity,whocomprisethehighestproportionofclientsreceivingCommunityServiceObligationfundedservices.

Aprioritycontinuestobethecloseandcarefulmanagementoftheservicesprovidedtoourclientstoensurefinancialviability.GrossFeesandChargesIncome,beforeCommunityServiceObligationrebates,intheyearended30June2010was$67.8Manincreaseof3.7%overthepreviousyearended30June2009.

TheamountoftheCommunityServiceObligationrebatescontinuestoincreaseeachyear

OurCorporateGovernance

26

Parliament

Attorney General

The Public Trustee of Queensland

Executive Management Group

QLD Audit QAO

Crime & Misconduct Commission

Queensland Ombudsman

Audit Committee & Risk Management

ProgramsCommittees

Public Trust Office Investment Board

OurcorporategovernanceframeworkThePublicTrusteehasacorporategovernanceframeworkthatassistsustomeetthepurpose,valuesandobjectivessetoutinourStrategic Plan 2009-2013.Theframeworkensuresweareaccountableforourdecisionsandassistsustoachieveourvision– To be Queensland’s best provider of trustee and administration services.

27

Audit and Evaluation Unit

AnimportantpartofourcorporategovernanceframeworkisourAuditandEvaluationUnit.Theunitprovidesindependent,objective,assuranceandconsultingactivitytoaddvalueandimprovetheoperationofThePublicTrustee.

Duringthe2009-10financialyear,AuditandEvaluationconductedindependentreviewsandauditsoftheoperationofinternalcontrols,businessprocessesandmanagementpracticesconsistentwithourauditcharterandtheAnnualInternalAuditPlanthatwasendorsedbytheAuditandRiskManagementCommittee.

Areviewofthescope,sizeandstructureoftheAuditandEvaluationUnitcommencedduringthefinancialyear.ThispurposeofthereviewwastoensurethatInternalAuditisappropriatelyresourcedtoassistThePublicTrusteeofQueensland,andotherlevelsofmanagementtoachievesoundcontroloverallactivitiesundertheirmanagement,sotheseactivitiescanbecarriedoutefficientlyandeffectively.

AprojectwasalsoconductedtodevelopandimplementaselectionprocessfortheacquisitionofAuditManagementSoftwaretoreplacetheexistingmanualrecordkeepingsystem.ThisresultedintheselectionandpurchaseofasuitablesoftwareprogramtoensuregreatereffectivenessandefficiencyoftheUnit.

External scrutiny

In2009-10,theOfficewasoneofseveralentitiesreviewedbytheQueenslandAuditOffice(QAO)inrelationtoAuditCommitteeGuidanceandFinancialAccountabilityRolesandITNetworkSecurity.TheresultofthereviewofAuditCommitteeGuidanceandFinancialAccountabilityRoleswasincludedintheAuditor-GeneralofQueenslandReporttoParliamentNo.8for2010,tabledon6July2010.TheresultsofthereviewofITNetworkSecuritywillbetabledbyQAO inmid2011.

28

Ourorganisationalstructure

Queensland Community

Parliament

Attorney-General and Minister for Industrial Relations

Manager Audit and Evaluation Unit Deputy Public Trustee


Director Client Services

Deputy Public Trustee of Queensland, Official Solicitor and Director of Legal and Human Resources

Director Investment Services

Director Organisational Support

29

Peter Carne


PeterCarnebringsover30yearslegalexpertisetohisstatutoryappointment asThePublicTrusteeofQueensland. Inadditiontomanaginghisownlegalpractice,PeterhasheldanumberofpublicrolesincludingChiefExecutiveOfficeroftheQueenslandLawSociety,CommissioneroftheQueenslandLegalAidCommissionandDirectoroftheCollegeofLaw(Queensland).

HehasalsoheldanumberofhonourarypositionsincludingPresidentoftheQueenslandLawSociety,ChairoftheQueenslandLawSocietySpecialistAccreditationBoardandDirectoroftheQueenslandLawFoundation.In2003, hewasawardedtheCentenaryMedalfor hiscontributiontothelegalprofession.

PeterhasaBachelorofArtsandaBachelorofLawsfromtheUniversityofQueenslandandisaFellowoftheAustralianInstituteofCompanyDirectorsandtheAustralianInstituteofManagement.From1999until2007hewasaboardmemberofTarongEnergyCorporationandiscurrentlyaboardmemberofAustraliaPost.

PeteriscommittedtoensuringthefuturesustainabilityofThePublicTrusteeandachievingourvision-To be Queensland’s best provider of trustee and administration services.

Patrick Wedge

Deputy Public Trustee of Queensland

PatrickWedgebringsover30yearsoflegalexperiencetohisroleasDeputyPublicTrustee.HeisaSolicitor,anationallyaccreditedMediatorandhasaGraduateDiplomaofPublicAdministrationfromGriffithUniversity.

SincehisadmissionasaSolicitorin1975,PatrickhasusedhislegalknowledgetoservethepeopleofQueenslandthroughhisworkinCrownLawfor26years.In2002,PatrickrelinquishedhisroleasDeputyCrownSolicitorCommercialtobecomeDeputyPublicTrustee.HealsoactedasThePublicTrusteeofQueensland fromJanuary2008untilMarch2009.

AspartofhisrolePatrickisensuringourcompliancewiththeintroductionofQueensland'srighttoinformationandprivacylegislation.PatrickisChairoftheGovernmentLawyersCommitteeoftheQueenslandLawSocietyandheisamemberoftheInstituteofPublicAdministrationAustralia.

30

Mark Crofton

A/Deputy Public Trustee of Queensland, Official Solicitor and Director of Legal and Human Resources

MarkCroftonheadsourin-houselegalpracticethatprovideslegalsupporttoThePublicTrusteeofQueenslandandourclients.

MarkhasaBachelorofArts/Laws(Hons)fromtheUniversityofQueensland,aMastersofLawsfromQueenslandUniversityofTechnologyandextensiveexperiencepracticinglawinboththeprivateandpublicsectors.Hehasspentalargepartofhiscareerundertakinglegalworkonbehalfofdisadvantagedclients.

DuringhistimewithThePublicTrustee,MarkhashonedhismanagementskillsandisourDirectorofLegalandHumanResources.Inthiscapacity,MarkiscommittedtodevelopingasustainablefuturefortheOfficeandisactivelyinvolvedinensuringourlegalandhumanresourcecapabilitiesmeetourfuturestrategicobjectives.

Tim Feely

A/Deputy Director Client Services

TimFeelycommencedworkingforThePublicTrusteein1992.WithBachelorofLawsfromMelbourneUniversityandover30yearsexperienceinthepublicandprivatetrustindustrybothinAustraliaandoverseas,heisavaluedmemberofourExecutiveteam.

AsA/Director,ClientServices,Timmanagesateamofover300dedicatedstaffwhodeliverfrontlinePublicTrusteeservicestoQueenslandersfromour16regionalofficeslocatedacrosstheState.

Tim’sworkwithThePublicTrusteehasseenhimundertakeavarietyofroles.HewasinstrumentalinthesuccessfulestablishmentoftheQueenslandCommunityFoundation,thelargestofitstypeinQueensland.ThisFoundationwasusedasthemodelforotherQueenslandFoundationsincludingtheFordeFoundation,LadyBowenTrustandtheQueenslandAboriginalandTorresStraitIslanderFoundation.Allofwhich,Timissignificantlyinvolvedinadministering.

31

Ray Bowers

A/Director Organisational Support

RayBowershasover20yearsleadershipexperienceinourorganisation,managingteamsbothinourcorporateofficeandourregionalofficesinGladstoneandRedcliffe.

Hisextensiveexperienceindeliveringfront-line,financialandstrategicmanagementandaBachelorofBusiness,majoringinAccountingfromCentralQueenslandUniversityhasseenhimleadnumerousinitiatives.ThisincludestheimplementationofournewelectronicdocumentationandrecordsmanagementsystemthatisbeingrolledoutacrossQueensland.

AsA/DirectorOrganisationalSupport,Raycurrentlymanagesateamofover80peoplewhoworkacrossspecialistfieldsrangingfrominvestment,finance,property,marketingandcommunicationandinformationservices.HeiscommittedtocontinuouslyimprovingOrganisationalSupport’sdeliveryofhighqualityandefficientservicetoourinternalandexternalclients.

Frank Prostamo

Director of Investment Services

FrankProstamohasover22yearsexperiencemanagingfinanceandinvestments.Forover18yearshehasbeensuccessfullygrowingThePublicTrustee’sassets.Heoverseestheinvestmentmanagementofover$1.17Bfundsthatareheldintrustforover10,000ofourclients.

FrankhasaBachelorofScience(Mathematics),fromtheUniversityofQueensland,aGraduateDiplomainAppliedFinanceandInvestmentfromtheSecuritiesInstituteofAustraliaandaMastersofBusinessAdministrationfromQueenslandUniversityofTechnology.

Currentlymanagingastaffof24people,Frankiscommittedtoensuringthecontinuedgoodperformanceofourassetsundermanagement.HeisTrusteeoftheCommitteeofEconomicDevelopmentAustralia,FellowoftheFinancialServicesInstituteofAustralasia,CouncillorofQueensland’sInstituteofPublicAdministrationofAustraliaandlecturesforaMastersCourseofferedbyKaplanProfessional.

32

Andrew Grima

Chief Finance Officer

AndrewGrimaisourChiefFinanceOfficer,hebringsawealthofexperiencetothePublicTrusteeincluding17yearsexperiencewiththeQueenslandAuditOfficewhereheservedforovertwelvemonthsasAuditManager.

AndrewisaCertifiedPracticingAccountantwithaGraduateCertificateinManagementandaBachelorofBusinessinAccountancyfromQueenslandUniversityofTechnology.

Hecurrentlymanagesateamof21staffwhoareresponsibleforthedaytodaymaintenanceofcorporateaccounts,businessintelligence,monthlyfinancialreportingandtaxation.Thisincludespreparingover3,000taxreturnsforourclientseachfinancialyear.

Caroline Hannigan

Manager Audit and Evaluation Unit

CarolineHanniganisManageroftheAuditandEvaluationUnit,performingavitalmonitoringandreviewroleforourorganisation.SheprovidesasecretariatroleforourAuditandRiskManagementCommitteemadeupofinternalandexternalmembers.

Avaluedmemberofourexecutiveteam,CarolinehasaBachelorofCommercefromtheUniversityofQueenslandandaGraduateCertificateofPublicSectorManagement.SheisaCertifiedPracticingAccountantandisamemberoftheInstituteofInternalAuditorsofAustralia.

Carolinebringsover10yearsexperienceinfinancialmanagementandinternalandexternalaudit.Inherrole,shehasassistedinimplementingmanyimprovementstopoliciesandprocedures,ensuringwehavethebestpossibleinternalcontrolenvironment.Sheiscommittedtocontinuousimprovementwithinourorganisation.

33

Ourboardsandcommittees withexternalmembers

Public Trust Office

Investment Board

ThePublicTrustOfficeInvestmentBoardisresponsibleforcontrollingandmanagingtheinvestmentsoftheCommonFund,inlinewithSection21(1)ofthePublic Trustee Act 1978.TheBoardprovidesThePublicTrusteeofQueenslandwithadviceinrelationtotheinvestmentmanagementofThePublicTrusteeInvestmentFunds.

Duringtheyear,withtheapprovaloftheInvestmentBoard,weimplementedarevisedinvestmentstrategyforourCommonFund.Thisprovidedenhancementstothemanagementofinterestrateriskandmorestableincomepayments.

MembersofourInvestmentBoardare:

• ThePublicTrusteeofQueensland(Chair)

• MrWalterIvessa,AssistantUnderTreasurer,QueenslandTreasury

• MrHenrySmerdon,ConsultantandformerUnderTreasurer

• MsHelenDavis,ChiefStrategyOfficer,QSuper

DuringtheyearMsMollyRobsonresignedfromtheBoardandMsHelenDaviswasappointed.ThePublicTrusteethanksMsRobsonforhercontributiontotheBoardandwelcomesMsHelenDavistotherole.

Theboardmetsixtimesduring2009-10.

Audit and Risk Management

Committee

TheAuditandRiskManagementCommitteewasnewlycreatedon1January2010andwasformedfromanamalgamationbetweenourformerAuditCommitteeandtheRiskManagementCommittee.ThegroupmeetsquarterlytoactasanindependentadvisorybodytoThePublicTrusteeofQueensland,toassisthimtofulfilhisresponsibilitiesastheAccountableOfficerundertheFinancial Accountability Act 2009.

ThecommitteeoperatesundernewtermsofreferenceestablishedaccordingtoQueenslandTreasury’sbestpracticeguidelines.Todatethecommitteehasassistedwithreviewingtheriskmanagementframeworkandthescope,structureandsizeofAuditandEvaluationUnit.

Thevotingmembersofthecommitteeare:

• StephenMaitland,OAMastheExternalChair

• LenScalanasanexternalrepresentative

• DeputyPublicTrustee

Standinginviteesare:

• ThePublicTrusteeofQueensland

• ChiefFinanceOfficer

• Manager,AuditandEvaluationUnit

• ArepresentativefromtheQueenslandAuditOffice

Thecommitteemetfourtimesduring2009-10.

34

Internalcommitteesandworkinggroups

Membersofthegroupwere:



• DirectorLegal&HumanResourceServicesandOfficialSolicitor

• DirectorOrganisationalSupport

• DirectorInvestmentServices

• DirectorClientServices

• DeputyDirectorClientServices

• AssistantDirectorClientServices


• ChiefInformationOfficer

• ManagerHumanResources

• ManagerAuditandEvaluation.

TheExecutiveManagementGroupmet 48timesduring2009-2010.

Executive Management Group

OurExecutiveManagementGroup’sroleistoprovideadviceandassistancetoThePublicTrusteeofQueenslandintheleadershipoftheOffice.Includingprovidingadvicetoensurewe:

• Develop,implementandreviewtheStrategic Plan 2009-2013

• Developandtrainouremployees

• Developshort-termstrategiesthatassistinachievingourlong-termgoals

• Reportonprogressandachievementstotherestoftheorganisation

• RemainrelevantandmakesadifferenceinthelivesofQueenslanders

• Buildonouridentity.

MembershipoftheExecutiveManagementGroupisdeterminedbyThePublicTrusteeofQueensland.

Members of the Executive Management Group.

35

Strategic Governance Group

OurStrategicGovernanceGroupsupportsThePublicTrusteeofQueenslandtoprovidethestrategicdirectionforourorganisation,aspartofouroverallcorporategovernanceframework.Itisalsoresponsibleforoverseeingorganisationalperformanceandplaysacriticalroleinassistingtoprovidepositiveandeffectiveleadershipanddirection.

TheroleoftheStrategicGovernanceGroupistooversee:

• Corporatestrategyinvolvingstrategicplanning,settingstrategicdirectionandanalysisofstrategictrendsandissues.

• Organisationalperformanceinvolvingthemonitoringofoutputperformance,servicedeliveryimprovementandbudgetperformance.

MembersoftheStrategicGovernance Groupwere:












• ManagerAuditandEvaluation

• SpecialCounsel.

Thecommitteemettentimesduring 2009-2010.

Agency Consultative Committee

AsrequiredbytheStateGovernmentDepartmentsCertifiedAgreement2006,ThePublicTrusteehasanAgencyConsultativeCommittee(ACC).

Membersofthecommitteewere:

• DirectorClientServices(Chair)

• RepresentativesfromtheExecutiveManagementGroup

• RepresentativesfromtheQueenslandPublicSectorUnion(QPSU).

Thecommitteemetseventimesduring2009-10.

Information Steering Committee

OurInformationSteeringCommitteereviewsstrategicandoperationalinformationtechnologyplans,aswellassecurityandpolicypracticesforapprovalbyThePublicTrusteeofQueensland.


• DirectorOrganisationalSupport(Chair)




• SpecialCounsel




• DeputyDirectorInvestmentServices

• ManagerITServices

• ManagerAuditandEvaluation


• RepresentativefromQueenslandTransport

• RepresentativefromtheDepartmentofJusticeandAttorney-General.

Thecommitteemetseventimesduring2009-2010.

36

Human Resource Committee

TheHumanResourceCommitteeevaluates,prioritisesandassiststheexecutionofhumanresourceprocedures,policies,practicesandstrategies.


• DirectorLegalandHumanResourceServices(Chair)



• DirectorInvestments




• ManagerTrainingandDevelopment

• HumanResourceTeamLeader

• SeniorHumanResourcesOfficer.

TheCommitteemetninetimesduring2009-10.

Training Committee

TheTrainingCommitteestrategicallydeterminesthetrainingrequirementsofourstaff.Italsoprovidesaforumwheremanagementisinformedonthemonitoringandeffectivenessofourtrainingprograms.


• DirectorClientServices(Chair)


• DirectorLegalandHumanResourceServicesandOfficialSolicitor


• DeputyDirectorInvestmentServices




• PrincipalHumanResourceOfficer(Learning&Development)

• ClientServicesManagers(TrainingandCompliance)

• ManagerTraining&Development(commencedattendanceOctober2009)

• Rollingcommitteeof10self-nominatedstafffromacrosssectionofclassificationlevelsandprograms

Thecommitteemetsixtimesduring 2009-10.

Public Affairs Committee

ThePublicAffairsCommitteeprovidesadvicetotheOfficeonclientrelations,internalandexternalcommunications,marketingandmediaissues.Thiscommitteehasceasedtofunctionasof30June2010.Thiscommitteewillbereplacedin2010-11withtheformationoftheMarketingandCommunicationCommittee.


• ThePublicTrusteeofQueensland


• DirectorLegalandHumanResourceServicesandOfficialSolicitor

• DirectorOrganisationalSupport(Chair)

• DirectorInvestments




• ManagerPublicAffairsUnit

Thecommitteemetfivetimesduring 2009-10.

ClientServices

Townsville, Queensland. Courtesy of Tourism Queensland. Townsville, Queensland. Courtesy of Tourism Queensland.

38

ClientServices

andEnduringPowerofAttorneyandtheimportanceofupdatingthesedocumentsduringkeylife-stages,suchasmarriage,birthofachild,deathofaspouseanddivorce.

Inthe2009-10financialyear,over15,271clientsappointedThePublicTrusteeofQueenslandastheirExecutorandweexperiencedanincreaseinthenumberofDeceasedEstatesunderAdministration.

OurClientServicesProgrammanagesthefinancialaffairsofadultswithimpairedcapacity,forwhomThePublicTrusteeofQueenslandhasbeenappointedAdministrator.OurappointmentasAdministratorisaseriousresponsibilitythatinvolvesprotectingandservingsomeoftheQueenslandcommunity’smostvulnerablepeople.

Werecognisethatmanyoftheseclientshavelimitedmeansandthatwehaveacommunityserviceobligationtoassistthesepeople.Werebateasubstantialproportionoffeesthatwemightotherwisechargetomanagetheiraffairs.Itisanticipatedtheseappointmentswillcontinuetoincreasein2010-11.

ClientServicesistheoperationalfrontlinethatdeliversourcoreservicestoQueensland.Thisincludes:

• AdministrationofDeceasedEstates

• DisabilityServices-actingasFinancialAdministratorforadultswithimpairedcapacity

• PreparingWillsandEnduringPowersofAttorney

• ActingasfinancialAttorneyunderanEnduringPowerofAttorney

• ActingasTrustee

• Trusteeservicesforphilanthropicfoundations.

Duringtheyear,ourClientServicesteammadealmost24,000freeWillsanddraftedalmost3,600EnduringPowersofAttorney.

Throughouttheyear,stafffromourregionalofficesdeliveredanextensiveprogramofcommunityengagement,informationandeducationsessions.ThesesessionsinformedtheQueenslandcommunityabouttheimportanceofhavingavalidWill

Image by Ray Cash Photography.

39

Wearealsoresponsiblefor:

• AdministrationoftheUnclaimedMoneysFund

• ActingasTrusteeforUnincorporatedAssociations

• VictimsofCrimeCompensationTrusts

• TheFinancialAdministrationforprisonersservingthreeyearsormoreincustody

• ActingasTrusteeforthreecaravanparks.

Delivering our services

to more Queenslanders

Toenableustobetterrespondtoourclients’needsandexpectations,amajorfocusthisyearwastoincreasethereachofourservicesbothinBrisbaneandinregionalareasofQueensland.

OurprimaryoperationsweredeliveredbyregionalofficessituatedinthemajorpopulationcentresofQueensland.

Wealsoundertookvisitstothesickandelderlyathome,innursingfacilitiesandhospitals.Ourserviceprovisionwascomplimentedbyoff-sitevisitationservicesto38othercentresacrosstheState.TheseservicesweredeliveredwiththecooperationoflocalCourthouses,CentrelinkOffices andQueenslandGovernmentAgency ProjectOffices.

Duringthe2009-10financialyearweundertookextensiveplanninganddevelopmenttoprepareforanewregionalofficeontheSunshineCoastandincreasedourWillmakingandEnduringPowerofAttorneyservicestotheClevelandarea.

OurdedicatedClientServicesstaffwereactiveinsupportingourStrategic Plan 2009-2013.Aspartofourundertakingtoimplementbetterservicestoourclients,eachregionalofficecompletedtheirownoperationalplansduringtheyear.Thisensureswearebetterabletomeettheevolvingneedsofourclients.

Our Free Will making service

• OurteamprovidedafreeWillmakingservicetoalmost24,000Queenslandersduringthe2009-10financialyear.

Wills 2006-07 2007-08 2008-09 2009-10

NewClients 11,038 11,278 10,736 12,468

ExistingClients 10,399 9,882 10,143 11,464

TotalWillsmade 21,437 21,160 20,879 23,932

NumberappointingThePublicTrusteeofQueenslandasExecutor

11,261 11,447 10,350 15,271

Image by Ray Cash Photography.

40

Deceased Estates

WeadministerthehighestnumberofDeceasedEstatesinQueensland.WeAdministeraDeceasedEstatewhen:

• ThereisaWillappointingThePublicTrusteeofQueenslandasExecutor

• TheExecutorrenouncestheirappointmentandnextofkin,orthebeneficiaries,requestThePublicTrusteeofQueenslandactasExecutorontheirbehalf

• TheExecutorhasdied,isunabletoactorisabsentfromQueensland

• ThereisnoWillandThePublicTrusteeofQueenslandisrequestedbythenextofkintoadministertheEstate

• ThePublicTrusteeofQueenslandisappointedbytheSupremeCourt.

Inresponsetoclientdemand,aprivateprobateandexecutorialservicewasalsoprovided.WithagrowingnumberofExecutorsrequestingtoobtainprobateontheirbehalfforthe2009-10financialyear.

Deceased Estate Administration 2005-06 2006-07 2007-08 2008-09 2009-10

NewDeceasedEstatesreceived

2336 2293 2398 2,394 2,449

NumberofEstates onhand

2132 2057 2179 2,385 2,532

ValueofthoseEstatesonhand

$308,210,048 $327,395,765 $383,533,797 $432,874,447 $457,378,445

%completedwithin9months

64.35% 64.12% 64.35% 66.41% 63.73%

%completedwithin12months

73.82% 74.76% 74.99% 78.20% 75.14%

NewTestamentaryTrustsreceived

159 168 101 116 143

NumberofTestamentary Trustsonhand

919 975 989 968 1,018

ValueofTestamentary Trustsonhand

$140,655,223 $158,277,434 $161,561,324 $165,031,809 $177,323,906

Proceeds of crime

TheCriminal Proceeds Confiscation Act 2002 providesthatThePublicTrusteeofQueenslandmaybeaskedtotakecontrolofpropertypossiblyrelatedtoillegalactivity.

Thisfinancialyearwereceivedpropertyrelatedto43matters.Propertyheldincludedcash,jewellery,property,vehiclesandmotorbikes.

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Trusts

Duringthe2009-10financialyearweactedasTrusteeforavarietyofTrusts.

Trust Management 2005-06 2006-07 2007-08 2008-09 2009-10

NumberofnewMinorsTrusts 740 619 518 552 572

NumberofMinorsTrustsonhand 4,801 4,491 4,269 4493 3,671

Valueofassetsundermanagement $139,573,714 $151,781,278 $135,011,225 $163,166,837 $166,624,191

Numberofsundrynewmatters 106 207 364 288 169

Numberofsundrymattersonhand 710 753 923 1,155 1,136

Valueofsundrytrustsassetsundermanagement

$105,970,204 $136,916,265 $131,614,163 $163,166,837 $166,624,191

Enduring Powers of Attorney

WepreparedEnduringPowersofAttorneyforalmost3,600Queenslanders.

Enduring Powers of Attorney 2005-06 2006-07 2007-08 2008-9 2009-10

Numbersprepared forclients

3,483 3,239 3,429 3,323 3,559

ThePublicTrustee asfirstAttorney

568 417 437 419 565

ThePublicTrusteeassubstituteAttorney

262 217 231 214 317

Numberofnew agencyclients

192 140 147 137 120

Numberofagencyclientsmatters onhand

1,080 1,013 973 874 828

Valueofagencyclientsassetsundermanagement

$133,624,180 $147,251,969 $141,977,394 $133,408,471 $145,766,678

OurRegional Offices

Cairns, Queensland. Courtesy of Tourism Queensland.

Gladstone, Queensland. Courtesy of Tourism Queensland.

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OurregionalofficesOurregionalofficesarethebackboneofourorganisation.TheydeliverthemajorityofservicestoourclientsacrosstheState.OurstaffalsomakeregularvisitstodraftWillsandEnduringPowersofAttorneyincommunitieswithoutanOffice.

Ourregionalofficesunderstandtheirlocalcommunities.Ourstaffworkwithlocalserviceproviders,federalandstategovernmentagencies,non-governmentandnot-for-profitorganisationstoensureourclients’needsaremet.

Toowoomba

OurToowoombaRegionalOfficeislocatedintheheartofToowoomba’scitycentre.Wehave31staff,thatworkhardtoprovidearangeofservicestothelocalcommunity,includingdraftingWillsandmanagingTrustsforhundredsofclientseveryyear.

ThisfinancialyearwecommencedavisitingWillsprogramtoWarwickandmayexpandthisserviceinthecomingyeartoincluderegularvisitstoDalbyandKingaroy.

OurToowoombastaffregularlyattendlocalcommunityforumsandinter-agencymeetingstopromotetheworkofThePublicTrusteeandeducatepeopleontheimportanceofhavingavalidWill.Ahighlightofouroffice’seducationprogramwasattendingFarmFest,thelargestruraleventinQueenslandwithover70,000visitors.Ourstaffprovidedinformationandadvicetothepublicoverthisthreedayevent.

Toowoomba, Queensland. Courtesy of Tourism Queensland.

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Redcliffe

FromourRedcliffeRegionalOfficeandoursatelliteofficeatStrathpine,weprovideafullrangeofTrusteerelatedservicestoRedcliffe,PineRivers,CabooltureandsomepartsoftheSunshineCoast.

OurRedcliffeRegionalOfficeopenedin1984andourStrathpinesatelliteofficeopenedin1998,duetothedemandsofthegrowingregion.Wenowhaveateamof30staffatRedcliffe,andateamofsixatStrathpineservingthelocalcommunity.

Togetherthesetwoofficespreparearound2,500freeWillseachyearandrespondtotheneedsofsomeofthemostdisadvantagedmembersofthelocalcommunity.Thisyear,ourskilledstaffattendedseverallocalexposforSeniorsWeektopromotetheimportanceofWillsandEnduringPowersofAttorneyandtoprovideinformationforarangeofservicesavailabletoQueensland’sseniors.

Mount Isa

OurMountIsaRegionalOfficehasbeenservingthecommunityforalmost30years.WealsoserveremotecommunitiessuchasBoulia,Camooweal,BurketownandCloncurrythroughourco-operationwithQueenslandGovernmentAgencyProjectOfficesandCourthouses.WeareproudthattheservicesprovidedbyourMountIsaOfficearethesameastheservicesprovidedinBrisbane.

Ourteamoffivededicatedstaffhaveaprofessionalandcaringapproachtotheirwork,especiallyinDeceasedEstatesandDisabilityServices,wheremanyofourclientsarefromanIndigenousbackground.

OurMountIsateamworkscloselywithTheQueenslandCivilAdministrationTribunal,TheOfficeoftheAdultGuardian,DisabilityServicesQueensland,QueenslandMentalHealthandothersupportagencies.

Lastyear,weassistedover200clientstomaketheirWillandorEnduringPowerofAttorneyandwevisitedclientsathomeorinhospitaliftheywereunabletoattendtheOfficeinperson.

Redcliffe, Queensland. Courtesy of Tourism Queensland.

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Mackay

OurMackayRegionalOfficehaselevenstaffservingMackayandWhitsundaysregion.Duringthefinancialyearourofficeassistedover980clientstomakeWillsandEnduringPowersofAttorney.

Theteamdeliveredalmost40presentationstoexternalorganisationsaboutourservicesandtheimportanceofhavingaWillandanEnduringPowerofAttorney.WemadevisitstoClermontandMoranbahintheWesternminingareas,CarmillaandSarinaintheSouth;and

Gladstone

OurGladstoneRegionalOfficehasbeenservingthelocalcommunityforapproximately30years.NotonlydoweassistthepeopleofGladstone,thisyearwealsomadevisitstoMontoandBiloela.

Inthepasttwelvemonths,ourofficeunderwentamajorrefurbishmenttoensurebetterdisabilityaccessandabetterenvironmentforourstaffandourclients.

Wehaveateamoffivededicatedstaff,includingourA/RegionalManagerwhohasworkedintheGladstoneOfficeforthepasteighteenyears.Thisfinancialyearwepreparedover400Willsand90EnduringPowersofAttorney.

WewerealsoactiveineducatingthecommunityabouttheimportanceofhavingavalidWillandEnduringPowerofAttorneyandwepresentedatnumerousinformationsessionsthroughoutthearea.

Bowen,CannanvaleandProserpineintheNorthduringthecourseoftheyear.

OurOfficersalsomadebi-annualvisitstoQueenslandGovernmentAgencyProjectOffices,CourthousesandtheLocalMPsofficesinProserpineandSarina.

OurRegionalManagerwaspartoftheorganisingcommitteefortheregionsannualSeniorsExpo,aneventsponsoredbytheQueenslandGovernment’sDepartmentofCommunitiesandtheMackayRegionalCouncil,aspartofSeniorsWeek.

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Eimeo, Queensland. Courtesy of Tourism Queensland.

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Ipswich

OurIpswichRegionalOfficehasbeenservingthecommunityforover30years.Sinceoursmallbeginningwiththreestaff,wehavegrownintoadedicatedandenergeticofficeof33people,whoprovideservicesfromGattontoBrisbane’sSouthWesternsuburbsandallthewaytoBeaudesert.

Thisyearourteamhelpedover1,800disabilityandtrustclients,administeredalmost200DeceasedEstatesandpreparedWillsandEnduringPowersofAttorneyforover1,200peoplefromthelocalregion.

OurstaffarededicatedtogivingbacktothecommunityandhavedevelopedarelationshipwiththeIpswichHospice.

OvermanyyearstheHospicehasbeen thebenefactorofouroffice’s‘freedressday’donations.Thisyear,wealsosponsoredtheHospice’sCarolsbyCandlelightevent.

WeplayanimportantroleservingtheIpswichdisabilitycommunityandwelinkwithothergovernment,nongovernmentorganisationsandadvocacygroupstobetterdeliverourservices.WealsoconductedpubliceducationvisitsacrosstheIpswicharea,tobetterinformpeopleofourservicesandtheimportanceofhavingavalidWill.

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Townsville

OurTownsvilleRegionalOfficehasbeendeliveringservicestoNorthQueenslandsincethe1920s.Wehave25dedicatedstaff,threeofthesehavebeenservingtheregionfor40years–that’sover120yearscombinedexperience.

During2009-10,wemadeover1,200WillsandourOfficerstravelledregularlytoAyr,ChartersTowersandIngham.WealsosuppliedWillandEnduringPowerofAttorneyservicestothepeopleofKirwanfromthelocalCentrelinkOffice.

OurRegionalManagermadeover20presentationstolocalcommunitygroups,topromoteourservicesandeducatethepublicabouttheimportanceofhavingavalidWillandanEnduringPowerofAttorney.

Wearealsocommittedtothecommunity,withourstaffcontributingtothelocalVarietyClub’sMovieSpectacularthatprovidedaboosttochildreninneed.

Bundaberg

OurBundabergRegionalOfficehassixdedicatedstaffservingtheBundabergandBurnettregion.WealsoserveChilders,GinGinandBargara.TheBundabergregionisgrowingbyalmost2,750peopleayearandmanyoftheseareretirees.

ThisgrowthisreflectedinourWillmakingappointmentswhichsteadilyincreasedduringtheyear.OurDeceasedEstateadministrationalsogrewby54%inthe2009-10financialyear.

MuchoftheBundabergOffice’sworkisassistingourdisabilityclientstomanagetheirfinancialaffairs.OftenthesepeopleareplacedunderourcarebytheQueenslandCivilandAdministrativeTribunal.Ourstaffworkhardtoensureweprotectourclients’assetsandmanagetheirfinancialaffairsprudently.

WealsoconductedanumberofcommunityeducationvisitsincludinglocalQSuperseminars,SeniorsForums,Endeavour,Rotaryandtheregionsannualthreedayagriculturalexpo–AgroTrend.

Townsville, Queensland. Courtesy of Tourism Queensland.

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Rockhampton

OurRockhamptonRegionalOfficefirstopeneditsdoorsin1916,theyearThePublicTrusteecommencedoperationsinQueensland.ItwasoneofthreeofficeslocatedacrosstheState.

Thisyear,weregularlytravelledtoYeppoon,EmeraldandCapella.OurservicesextendedtotheNorthernTerritoryborderincludingBlackallandLongreach.

Wehave18staff,sixofthesehavemorethan27yearsserviceeach.Wepreparedover1,000Willsduringtheyear.Wealsoengagedinnumerouscommunityawarenessraisingevents,wherestaffdeliveredpresentationstopromotetheimportanceofhavingavalidWillandEnduringPowerofAttorney.

Maryborough

OurMaryboroughRegionalOfficehasbeenservingthelocalcommunitysince1978.Wehave11staffanddraftedover1,200Willsthisfinancialyear.OurOfficerstraveltoHerveyBaythreetimesaweek,toGympiethreetimesafortnightandtoTinCanBayonceamonth.

Ourteamarefamiliarwiththelocalareaandourlongestservingmemberofthe teamhasbeenworkingattheOfficesince itopened.

WeconductedregularvisitstoorganisationstopromotetheimportanceofhavingavalidWillandEnduringPowerofAttorney.ThisincludedsupportingtheFraserCoastSeniorsExpoinAugustandourlocalagriculturalshowinMay.

Rockhampton, Queensland. Courtesy of Tourism Queensland.

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Cairns

OurCairnsRegionalOfficehasbeenprovidingservicestothepeopleofCairnsandsurroundingdistrictssince1927.WeprovideWillandEnduringPowerofAttorneymakingservicesfromCourthousesandQueenslandGovernmentAgencyProjectOfficesinTully,MareebaandAtherton.

Our22dedicatedstaffareexperiencedindraftingWillsandEnduringPowersofAttorneyandhavealsoprovidedotherTrusteeservicesduringtheyear,includingDeceasedEstateAdministrationandfacilitatingauctions.

TheOfficealsoprovidesregularinformationsessionstothepublicinCairns,Ravenshoe,Innisfail,AthertonTablelands,TullyandBabinda.

TheCairnsteamiscommittedtohelpingthecommunity,withtheOfficeparticipatinginthisyear’sJeans for Genesdayandannuallysponsoringprizesforalocalsurf-lifesavingclubcompetition.

Nambour and Sunshine Coast

During2009-10ourNambourRegionalOfficeofninestaff,servedthe

localcommunityfromCaloundratoLandsborough.Weassistedover250clientswithdisabilitiestomanagetheirfinancialaffairsandadministeredapproximately100deceasedestates.

WepresentedinformationabouttheimportanceofhavingavalidWillandEnduringPowerofAttorneyatmorethan25events.

ThePublicTrusteehasbeenbasedpermanentlyontheSunshineCoastforovernineyears.Withincreasesintheregion’spopulation,workwasundertakenduringtheyeartoplanfortheexpansionofourservices.ThiswillseeanewofficeopeninKawanainAugust2010,whileourNambourRegionalOfficewillstillremainopentothelocalcommunity.

Tropical North Queensland, Queensland. Courtesy of Tourism Queensland.

Mooloolaba, Queensland. Courtesy of Tourism Queensland.

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Southport

OurSouthportRegionalOfficehasateamof34peoplewhoprovidethefullrangeofTrusteeservices.Thisyearwecompletedapproximately2,350Wills,withextraservicesprovidedregularlyattheBeenleighCourthouseandatPalmBeachCentrelink.Wealsoco-operatedwithGoldCoastLegacytoprovideanin-houseservicetotheirmembersthroughouttheyear.

ThereisastrongcharitableculturewithinourOffice.Thisyearourstaffraisedfundsforvariouscharitiesthroughactivitiessuchasfreedressdays.Thisyear,wemadedonationstotheKMartWishingTree,YoungCareandthePaediatricWardoftheGoldCoastHospital.

WedeliverednumerouspresentationstocommunitygroupsandprovidedinformationstallsatanumberofExpos.WeattendedtheAgedCareQueenslandConferenceheldontheGoldCoastasbothadelegateandasanexhibitor.

Brisbane

TheDeceasedEstatesandWillsteamofourBrisbaneOfficeprovideservicesrelatingto:

• Documentpreparation(WillsandEnduringPowersofAttorney)

• AdministrationofDeceasedEstatesManagementofUnclaimedMonies

• ManagementofCancelledIncorporationAssociationmatters

• Managementofproceedsofcrime.

Ourteampreparedover6,600documents,acceptedtheAdministrationof560DeceasedEstatesandprocessedmorethan1,200claimsontheUnclaimedMoniesFund.

Thisyear,weexpandedourdocumentmakingservicebyincreasingourvisits

toarangeofCentrelinkOfficesandCourthouses.Thisprovidedeasieraccessforclients,astheydidnothavetotraveltotheBrisbaneCBDtoreceiveourservices.

TheDisabilityServicesandTrustsRegionwithinourBrisbaneOfficeassistswithmanagingthefinancialaffairsofQueenslanderswithanincapacity.Duringtheyearour35staffservedover1,648clients.

WealsomanageTrustsfor750minors, 159generalTrustFundsand278TestamentaryTrusts.

WedeliverednumerouspresentationstocommunityorganisationstoeducatepeopleaboutourworkandtheimportanceofhavingavalidWillandEnduringPowerofAttorney.

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PhilanthropicTrusts

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PhilanthropicTrusts

Establishedin1997undertheTrusteeshipofThePublicTrusteeofQueensland,theQueenslandCommunityFoundationaimstoprovideapermanentsourceofphilanthropicfundingforcharitableorganisationstoenablethemtorespondtocurrentandemergingcommunityneedsofQueenslanders.

TheQueenslandCommunityFoundationbringstogethercommunity,business,educationandgovernmentleaderstofurtherphilanthropiccausesacrosstheState.ThePublicTrusteeofQueenslandisadvisedbyaBoardofGovernors,madeupofrepresentativesfromthecommunitywithaninterestinphilanthropy.ThepresentChairoftheFoundationisDrJohndeGrootanditsPatronistheHon.MikeAhernAO.

Queensland Community Foundation

ThePublicTrusteeofQueenslandisTrusteeforanumberofleadingQueenslandphilanthropictrusts.During2009-10,theseorganisationsdistributedover$1.24MtoadiverserangeofQueenslandcharities,communityorganisation,schoolsandqualifyingindividuals.

TheTrustsmaintaintheircapitalinperpetuityforfuturegenerationsofQueenslanders.SomeTrusts,suchastheQueenslandCommunityFoundation,continuetogrowtheircapitalbasesduetothegeneroussupportofphilanthropicmindedpeoplewhochoosetoleavealastinglegacytoQueensland.

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InMay1997,theStateofQueenslandsignedtheCenturyZincAgreementwiththeWaanyi,Mingginda,GkuthaamandKakatjNativeTitleGroupsandCenturyZincLimited.

FollowingaSocialImpactAssessmentin2000,theGulfAreaCommunitySocialDevelopmentTrustwasestablishedandplacedunderthemanagementoftheQueenslandCommunityFoundation.ThePublicTrusteeofQueenslandisTrusteeofthisFoundation.

TheGulfAreaCommunitySocialDevelopmentTrustprovidesfundingthatsupportsprojectspromotingcultural,educational,healthandsocialdevelopmentwithintheLowerGulfRegion.During2009-10theTrustprovidedfundingofover$310,000toprojectsdesignedtostrengthencommunitiesbyfundinginitiativesinlinewiththegranttheme“YouthandElders”.

GrantsweremadetoorganisationsinthecommunitiesofMornington,Burketown,Doomadgee,Cununa,NormantonandMountIsaforarangeofprojectssuchas:InformationTechnologyresources,HealthandNutritionprogram,YouthSkillsprogram,EarlyLanguageandLiteracyprogramandFacilityrenovationsandextensions.

TheGulfAreaCommunitySocialDevelopmentTrustisfosteringrelationshipswithregionalcommunitiesandorganisationstoenablefuturefundingallocationstohavemeaningfulandlastingbenefitsfortheLowerGulfRegion.

Gulf Area Community Social Development Trust

SincetheQueenslandCommunityFoundation’sinceptionthefundhasgrownfrom$300,000with12sub-fundsforcharitiesunderitsumbrella,tohavingfundsofalmost$30Minvestedandover150sub-funds.Thisyear,grantsofover$100,000weremadetocommunityorganisationsacrossQueensland.

TheQueenslandCommunityFoundationhasnoadministrationcostsleviedagainstdonationsreceived.ThesecostsaremetthroughthecommittedcorporatesponsorshipofThePublicTrustee,QICLimitedandAngloAmericanMetallurgical.

WA Lee Equity Lecture – 2010

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InAugust2000,theQueenslandGovernmentrespondedtothefindingsoftheCommissionofInquiryintotheAbuseofChildreninQueenslandInstitutions.OneoftheoutcomeswastheestablishmentoftheFordeFoundationnamedaftertheChairoftheInquiry,MsLeneenForde,whoisalsoPatronoftheFoundation.TheFoundationwasdesignedtosupportformerresidentsofQueenslandInstitutions.

Followinganindependentreviewin2009-10,anewphaseisbeginningfortheFoundation.AfterthecompletionofaRedressSchemethatassistedthousandsofpeople,itwasdecidedtore-focustheFoundationsactivitiesintothefuture.

InMay2010,theQueenslandGovernment,ThePublicTrusteeofQueenslandandtheFoundation’sBoardofAdviceannouncedthattheFordeFoundationwilloffertwotypesofgrants.

Thefirsttypeofgrantwillbeprovidedtonot-for-profitorganisationstoworkwithgroupsofformerinstitutionresidents.Grantswillfundinnovativeprogramsandprojectsthatprovidecommunityparticipationopportunitiessuchasreunions,skillsmentoringworkshopsandothersocialandcommunityevents.

Thesecondtypeofgrantwillbeprovidedtoindividualsforspecificpurposes,suchasdentalcare,education,trainingandpersonaldevelopmentopportunities.

Website: www.fordefoundation.org.au

Email:[email protected]

The Forde Foundation

Grantswillfundinnovativeprogramsandprojectsthatprovidecommunityparticipationopportunities

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Establishedin2006,theLadyBowenTrustaimstore-engagepeopleexperiencingchronichomelessnesssotheyachievegenuine,positiveandlastingoutcomes.

Sinceitbegan,theLadyBowenTrusthasprovidedover$280,000tocommunityorganisationsthatassisthomelessQueenslanderstotransitiontomorestablehousingarrangements.Bycarefullytargetingitsfinancialsupport,theTrustaimstoprovidehomelesspeoplewithassistance,reliefandpersonalandsocialsupport.

Eachyear,aBoardofAdvicecomprisedofindividualsfromthepublic,communityandbusinesssectorprovidesrecommendationstoThePublicTrusteeofQueenslandabouttheapplicationoffundstomeettheTrust’sobjectives.

Basedontheserecommendations,in2009-10,fundingwasallocatedtosevenorganisationsthatprovidesupportandassistancetopeopleexperiencinghomelessness.Thisincludedallocatingfundingtoflexibleandpracticalprogramsthatcomplimenttheseorganisations’existingservices.

TheTrustalsocontinuedtosupportMissionAustraliawhichmaintainsRomaHouse.Thisfacilitywasestablishedtoenhanceclients’lifeskills,confidenceandresilience,whileassistingthemtofindsecureaccommodation.RomaHouseprovides24-hour,intensivecare,supportandaccommodationforpeoplewhoarechronicallyhomeless.

Duringtheyear,theBoardofAdvicealsoundertookarangeofactivitiestoraisecommunityawarenessofthevariedissuesassociatedwithhomelessness.

Website:www.ladybowentrust.org.au Email:[email protected]

Lady Bowen Trust

From right: Her Excellency Ms Penelope Wensley AO, Governor of Queensland, Peter Carne, The Public Trustee of Queensland with grant recipients.

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A perpetual legacy for a positive future

TheQueenslandAboriginalandTorresStraitIslanderFoundationwasestablishedin2008.Thisnot-for-profitfoundationprovidesasecure,independentandperpetualfundingsourcetoadvancetheeducationandlifeopportunitiesofAboriginalandTorresStraitIslanderchildrenandyoungpeopleinQueenslandthroughtheprovisionandpromotionofscholarships.

ABoardofAdvice,comprisingrepresentativesfromAboriginalandTorresStraitIslandercommunities,makesrecommendationstoThePublicTrusteeofQueenslandontheallocationofgrantseachyear.

TheFoundationhasfourobjectives:

• Toapplythefoundation’sincomeforthecharitablepurposesofadvancingtheeducationofAboriginalandTorresStraitIslanderchildrenandyoungpeopleofQueenslandthroughtheprovisionofscholarships.

• Toapplythefoundation’sincometoincreasecommunityawarenessoftheneedtoadvancetheeducationofAboriginalandTorresStraitIslanderchildrenandyoungpeopleinQueensland.

• ToensureengagementbytheAboriginalandTorresStraitIslandercommunitywiththeQueenslandAboriginalandTorresStraitIslanderFoundation.

• Toensurethefoundation’sincomeisperpetualandtoobtainadditionalfinancialsupportfromthecommunityforthedeliveryofitscharitableobjects.

The2009-10inauguralgrantprogram,allocatedscholarshipfundingof$550,000toassistfourteenofAboriginalandTorresStraitIslanderstudentstocompletetheirseniorstudies.

ThisscholarshipfundingwasprovidedtoState,CatholicandIndependentschools,whothendistributedthemoneytobenefitindividualstudents.

TheQueenslandAboriginalandTorresStraitIslanderFoundationBoardisprogressingacommunityengagementprogramacrossQueensland.ThiswillraisecommunityawarenessabouttheFoundationandencouragecommunityinvolvementinfuturefundingallocations.

Queensland Aboriginal and

Torres Strait Islander Foundation

Officeofthe OfficialSolicitor

Brisbane, Queensland. Courtesy of Tourism Queensland.

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The Civil Law Legal Aid Scheme

Asaresult,theschemeallowspeoplewhoarefinanciallydisadvantagedtopursuecivilclaims.Thisisonthebasisthattheywillnothavetofund,duringthecourseoftheaction,theirsolicitororbarristerandthattheoutlaysorexpensesinvolvedintheclaimaremetbythescheme.

Anapplicanttotheschemewouldotherwisefacegreatdifficultyinadvancingtheirclaim(wheretheywouldhavetomeetthecostofexpensivemedicalorexpertreportsforexample).

How does the scheme work and when did it start?

LegalAidQueenslandattendstotheadministrationoftheschemeandThePublicTrusteeprovidesthemoneytofundtheoutlays.

Theschemestartedin1992whenLegalAidQueenslandceasedfundingCivilLawmattersbutitwasidentifiedthatmanyQueenslandersmaynotbeabletopursueCivilclaims,giventhebarrierthatlegalcostsandexpensesrepresent.SincethentheschemehashelpedhundredsofQueenslanders.

Partnering with Legal Aid to help vulnerable Queenslanders

ThePublicTrusteetogetherwithLegalAidQueenslandfundsandoperatestheCivilLawLegalAidScheme.TheschemeassistsQueenslanders,especiallythosewithlimitedmeans,toaccessjustice.

Lastfinancialyearweprovided659 grantsofalmost$900,000tosupport thisvitalscheme.

Applicantsrecoveredatotalof$62Montheseclaimsduringtheyear.Manyofthesepeoplewouldnothavebeenabletopursuetheirclaims,butforthepreparednessofsolicitorstoactona‘NoWinNoFee’basis,barristerstolendtheirsupportandtheschemefundingtheexpensesandcostsinvolvedintheclaims.

What is the Civil Law Legal Aid Scheme?

TheCivilLawLegalAidSchemeprovidesQueenslanderswithfinancialassistancetoenablethemtopursueCivilLawclaims.Thetypesofclaimswhichareassistedbytheschemeinclude:

• Personalinjuriesmatters–includingworkplaceaccidentsandmotorvehicleclaimsforpersonalinjury.

• Publicinterestcaseswhereanissueisofbroadpublicimportanceorthematterdealswithlegalissuespreviouslyuntested.

Theschemefundstheoutlays(expenses)involvedinprosecutingthesetypesoflegalactions.ApplicantsarethesubjectofameanstestappliedbyLegalAidQueensland.

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OfficeoftheOfficialSolicitor

OursecondworkteamundertakesDeceasedEstatesworkandattendstodifficultprobatematters,litigationinrespectofEstates(largelyfamilyprovisionapplications)andotherworkassociatedwiththeadministrationofEstates.

OurthirdworkteamattendstoworkflowingfromThePublicTrustee’sWillspracticeandprovideslegaladviceandservicesinrespectofTrusts.ThisteamalsoprovideslegalservicestoThePublicTrusteeofQueenslandinhisroleasAdministratorforclientswithimpairedincapacity.

Ourfourthworkteamattendstocommercialandpropertyrelatedmatters.Theyundertakelegalworkinrelationtoconveyancingandpropertyrelatedadvice,originatingfromThePublicTrusteeofQueensland’sroleasAdministratorforadultswithimpairedcapacity,aswellasDeceasedEstates.Theyalsoprovidehigh-levellegaladviceandundertakeworkforothergovernmentdepartments.

Our purpose

TheOfficeofTheOfficialSolicitoris ThePublicTrustee’slegalpractice.

Weaimtoprovidehigh-quality,timelyandcostcompetitivelegaladvicetoThePublicTrusteeofQueenslandinallofhisroles.

Wearediversewithspecialitiesinsuccession(DeceasedEstates),actingforpersonsunderalegaldisabilityandprovidingThePublicTrusteewithcorporatelegaladvice.

Our people

Weoperateinasimilarwaytoprivatepractice,butforthevolumeandareasofspecialitiesofourwork.Thesuccessofourpracticeisduetoourhighlymotivated,skilledandknowledgeablestaffof41people.Thisincludes26lawyers,fourParalegalOfficersandelevenadministrativesupportstaffwhooperatefromfourworkteams.

Ourfirstworkteamprovideslegaladviceandlitigationservicesforourclientswithanincapacity.Thisincludesmatterswhereadultswithanincapacity,havehadpropertyormoneymisappropriated–commonlybyfamily,AttorneysorAdministrators.

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Our achievements

ThisyeartheOfficeofTheOfficialSolicitorexcelledinthedeliveryoftimely,accurateandcosteffectivelegaladviceforThePublicTrusteeofQueenslandandourclients.

Ourworkhasgrownsignificantlyinthepastyear,ashasthecomplexityofthiswork.

ThisyearwehadincreasinglitigationinrespectofDeceasedEstates.Therewasalsoanincreaseinlitigationastheresultoffinancialabuseormisappropriationfromadultswithimpairedcapacity.Someofourmostsignificantsuccesseshavebeeninrelationtothiswork.

OurdedicatedstaffhaveensuredtheOfficeofTheOfficialSolicitormetandexceedthechallengespresentedthisfinancialyear.Someofoursuccessesincluded:

Type of work 06 – 07 07- 08 08-09 09-10

FamilyProvisionApplications 101 99 81 148

Sanctions–s.59PublicTrusteeAct1978 290 285 277 252

AdvicesandOtherMatters 990 1,018 1,029 1397

Total number of new matters 1,381 1,402 1,387 1797

Additional Matters:

–RegionalLegalMatters 25 30

–ProbateFiles 913 864

–FreedomofInformationFiles 21 0

Total number of new legal matters 2,346 2,691

• Effectivelysettlingallfamilyprovisionmatterswhichhavecometoaconclusionwithoutrecoursetoatrial.

• Dealingeffectivelywitha34%increaseinthenumbersofmattersreceived.

• IncreasinglydirectingsupporttothecoreserviceareaoftheOfficeincludingprovidingtrainingandinvolvementinthedevelopmentofsystemsandprocessesfortheAdministrationofDeceasedEstatesandtheroleofThePublicTrusteeofQueenslandactingasAdministratorforadultswithimpairedcapacity

• Settlingthefullimplementationofanewlegalmanagementsystem(software).

• Transitioningtoanewworkgroupstructurewithgreaterspeciality andfocusontheareasofactivity oftheOffice.

Our work

ThetablebelowdescribesthenumberofmattersreferredtotheOfficeoftheOfficialSolicitorforthe2009-10financialyear.

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Atotalof2,691matterswerereceivedduringtheyearandafurther1,130matterswereundertakenbyourcommercialpropertyworkteam.

Intotaltherewere3,821‘new’mattersreceivedbytheOfficeofTheOfficialSolicitorforthefinancialyear.

Thenumberoflegalmattersundertakenincreasedbymorethan350,comparedtolastyear,withourcommercialpropertyworkteamundertakingarecordnumberoffiles.

Our particular areas of advice

Acting for adults with impaired capacity: ThePublicTrusteeofQueenslandacceptstheroleofAdministratorforadultswithimpairedcapacitywhenappointedbytheQueenslandCivilandAdministrativeTribunal.

Oftentheseadultshaveneedforlegaladviceandservicesandsometimesareinvolvedinlitigation.Ourlegalpracticeisoftenrequiredtoprovidetheseservices.

Theserangefrom:

• Managingmatrimonialandpersonalinjuriesactions(forwhichthepracticeoftenseekstheassistanceofexternallegaladvice).

• Assistingadults,forwhomThePublicTrusteeofQueenslandisappointedAdministrator,thatarebeingsuedfordebtsowedortransactionssaidtohavebeenenteredinto.

• OccasionswhereTheOfficialSolicitoriscalledupontoinvestigatewhetherpropertyormoneyhasbeenunlawfullymisappropriatedfromtheseadults.

Someofthemostsignificantareasofourlegalpracticeinvolvesactingforadultswithimpairedcapacityincludes:

• Accommodation agreements: Providingadviceandsettlingaccommodationagreementsforadultswithanincapacity–nursinghomeandagedcareagreementsarereferredtoTheOfficialSolicitorforadvice.

Some403mattersofthisnaturewereconsideredbyTheOfficialSolicitorin2009-10.

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• Family Provision matters: Oftenadultswithanincapacity,whenoneoftheirparentsdies,areleftwithlittleprovisionfromtheDeceasedEstate.

TheOfficialSolicitorisaskedinthosecircumstancestoadviseastowhetherafamilyprovisionapplication(forfurtherandadequateprovisionfromtheEstateoftheparent)shouldbeadvanced;68newmattersofthiskindwerecommencedduringtheyear.

• Litigation:Oftenadultswithanincapacityarethesubjectoflitigationorneedtocommencelitigationtoprotecttheirinterests.

ThePublicTrusteeofQueensland,asAdministratorisoftenthedecision-makerinrespectofsuchlitigation; 35newmattersofthistypewereopenedinthefinancialyearending 30June2010.

• Misappropriation:26significantmatterswerecommencedinthefinancialyeardealingwithcircumstanceswhereadultswithimpairedcapacityhavebeenthesubjectofmisappropriation;byfamily,friendsorpreviousAttorneysorAdministrators.

Thesemattersareoftenprotractedandinvolved.

AtanypointTheOfficialSolicitorwillhavenearing200suchmattersbeingprogressed.

• Executor and Trustee: OneofThePublicTrusteeofQueensland’srolesistoactasExecutorandTrusteeinDeceasedEstates.Thisresultsinasubstantialamountoflegalwork.

TheOfficeofTheOfficialSolicitorhassignificantexpertiseandvolumeofworkinthisarea.Forthecurrentfinancialyearthishasincluded:

– Probate:Providingadviceandsettlingprobateapplications.

864matterswereconsideredbytheOfficeinthecurrentfinancialyear–320probateapplicationsandinexcessof540probateapplicationswhereThePublicTrusteeofQueenslandwasappointedExecutorofDeceasedEstates.

– Family Provision Applications: SometimesEstateswhereThePublicTrusteeofQueenslandisappointedasExecutorarethesubjecttofamilyprovisionapplications–although notnecessarilyfromadultswith adisability.

80familyprovisionapplicationsweredefendedbyThePublicTrusteeofQueenslandthrough TheOfficialSolicitorintheyearended30June2010.

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– Other advice – Probate Litigation: SometimesthereisacontestastothevalidityofthelastWillofthedeceased.IssuesastocapacitymightberaisedandthematterneedstoproceedtoaSupremeCourtJudgefordecision.

40newmattersofthiskindwerereceivedandwerethesubject ofadviceworkduringthe financialyear.

– Other advice and litigation:TrustandEstatesarefrequentlythesubjectofclaims,forexamplebycreditorsorthosewhoassertaninterestinthepropertyoftheEstate.

ThePublicTrusteeofQueenslandinhisroleasTrustee,frequentlyrequireslegaladviceastorights,interestsandinvestments.

Some67mattersinvolvinglitigationorcomplexadvicewerereferredtoTheOfficialSolicitorduringtheyear.

• Special functions of a public nature: OnepartofthePublic Trustee Act 1978 imposessomefunctionsofapublicnatureonThePublicTrustee ofQueensland.

ThesestatutoryfunctionsarepeculiartoThePublicTrusteeofQueenslandandservetogenerallyassistthecommunity.

OftenthelegalpracticeofTheOfficialSolicitorprovidesthoseservices:

– Sanctions:Incircumstanceswhereapersonunderalegaldisability(achildoranadultwithalegalincapacityclaimsmoneyordamagesorhasaclaimformoneyordamagesagainstthem)theCourtorThePublicTrusteeiscalledupontosanctionthesettlement.

Thishappenswhereachildorapersonunderalegaldisabilityisinvolvedinapersonalinjuriesaction–thatissuingfordamages.Achildorapersonunderalegaldisabilitycannotagreetocompromiseorsettlethosetypesofactions.Inordertoensurethereisatimelyresolutionifasettlementcanbereached,theCourtorThePublicTrusteewillscrutinisetheagreementtoensurethatitisreasonableandfair(tothechildortheadultwithimpairedcapacity).

Thisareaofactivityisgenerallyknownasthesanctionjurisdiction.

252sanctionswereconsideredbyourofficeintheyearended 30June2010.

– Prisoners:AseparatepartofthePublic Trustee Act 1978 provides thatanypersonwhoisconvictedofanindictableoffenceandisundergoingasentenceofthreeyearsorupwards,istohavehisorherestate(property)managedbyThePublicTrusteeofQueensland.

Oftenprisonersarethesubjectofclaimsforcompensationbyvictimsandwithgreaterfrequency,claimsbytheStateinrespectoftheproceedsofcrime.

Some265ofsuchlegalmatterswerecommencedduringthefinancialyear.

OrganisationalSupport

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OrganisationalSupport

• WorkingcollaborativelywithQueenslandStateArchivestoimplementmoreeffectiverecordkeepingpracticesforourorganisation.

• Preparingover3,000taxreturnsandprovidingtimelyandaccuratereportingtoeachofthebusinessareasincludingfinalisingtheannualfinancialstatements.

• Undertaking385auctionsduringthefinancialyearandincreasingthenumberoflotsoffurnitureandcomputerssoldby16%.

• FacilitatinganewarrangementwithQFleetforthesaleofsurplusvehiclesrightacrossQueenslandforthenextthreeyears.

• CooperatingwiththeDepartmentofJusticeandAttorney-GeneraltosupporttheirPlanning for Lifeforums.

• Supportingover100communityawarenessvisitsandsponsoringtheQueenslandSymphonyOrchestraandSeniorSuperstartopromoteourservices.

OrganisationalSupportprovidesarangeservicestoThePublicTrustee’sinternalandexternalclients.Ourkeymanagementareasincludeaccountingandfinance,property,publicaffairs,recordsmanagementandinformationtechnology.

Someofourachievementsforthe2009-2010financialyearincluded:

• Movingourfacilitiesmanagementinhousetoprovidemoreeconomicalmanagementofourbuildingsandamoreenergyefficientandsafeworkenvironmentforourstaff.

• ReviewingandenhancingourClientInformationSystem(CIMS)inconjunctionwithUNYSIStoimprovethesystem’scapabilitiessowebetterserveourclients.

• Undertakingongoingimplementationofourelectronicdocumentandrecordsmanagementsystem(EDRMS),withasuccessfulpilotconductedbyourinformationservicesteam.Thiswillensuremoresecureandcosteffectivemanagementofourdocumentsforourclientandorganisation.

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Our Finance Program

TheFinanceProgramconsistsofthreesub-programsthatprovidekeyorganisationalsupporttoallareasoftheOffice. Thethreeteamsthatcomprisethe Financeprogramare:

• FinancialAccounting

• DecisionSupportServices

• Taxation.

Financial Accounting Services

FinancialAccountingServicesprovidebusinessservicestobothcoreoperationsandexternalpartiesofourorganisation.Thisincludesprovidingexpertfinancialadvice,administrativeprocessingandpreparingannualfinancialstatements.

KeyachievementsduringtheyearincludedthesuccessfulimplementationofODX–asecuregatewayfortheautomatictransferofelectronicfileswithourbankingpartners.

Otherkeyachievementsincludethecompletionofallmonthlyfinancialreportswithinfivedaysofendofmonth.

Decision Support Services

DecisionSupportServicesprovidesqualitybusinessreportingandforecastdatatoseniormanagementtoenablestrategicdecision-making.

Thisyearweselectedandimplementedabusinessintelligencetool.Thiswillenhancereportingtomanagementtoenablemeasurementagainstourkeyperformanceindicators.

Thereportswilloutlinepastperformance,asanindicatorofprogresstowardstrategicobjectives,presentperformancetoindicatehowtheOfficeiscurrentlyoperatingandfutureperformancetoindicatehowcurrentstrategieswillleadtofulfillingtheOffice’sstrategicobjectives.

Taxation

ThisyearourTaxAccountingteamoperatedanAustralianTaxationOfficelodgementprogram,underaregisteredtaxagent.TheteamalsoprovidedtaxationaccountingservicesforourclientsandadvicetoTrustOfficerswhoareresponsibleforourclients’financialaffairs.TheTaxAccountingteampreparedapproximately3,000taxreturnsthisfinancialyear.

Property

OurpropertyteammanagestheOffice’scorporatepropertyacrossQueensland.WealsosupportthestaffthatadministerDeceasedEstatesandprovidefinancialmanagementservicestoourclients. Ourcoreservicesare:

• Managementofcorporate propertyassets

• House,motorvehicleand furnitureauctions

• Propertymanagement

• Propertyvaluation.

Intheyearended30June2010,thePropertysubprogramprovidedauctionservicesthroughoutthestate,withhouseandmotorvehicleauctionsregularlyconductedacrossQueensland.Weconductedover385auctionsduring2009-10.

Thisyear,therewasanincreaseof19%inthenumberofitemsoffurnitureandcomputerssold.

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Ourpropertyteamsold172houses,5612motorvehiclesand17,084lotsoffurnitureandcomputersintheyearended30June2010.Additionally1,385valuationswerearrangedonbehalfofDeceasedEstateandTrustclients,representingan8%increaseinvaluationsovertheprioryear.

OtherservicesprovidedtotheQueenslandGovernmentin2009-10included:

• Managingthetenderofgamingmachineoperatingauthorities

• AuctioningsurplusQFleetvehiclesthroughoutQueensland

• AssistingtheDepartmentofMinesandEnergyinrelationtothe2008minessubsidenceatCollingwoodPark

• Liquidatingassetsacquiredfromtheproceedsofcrime.

Information Services

InformationServicesmanagesourITsystemsandresources.InvestmentanddevelopmentofourITsystemsaredeterminedbyourInformationSteeringCommitteeagainstfourcriteria:

• Reducingcosts

• Increasingrevenue

• Increasingproductivity

• Complyingwithlegislation.

Servicesweprovidedduringtheyearincluded:

• Maintaininganddevelopingnetworkservices,includingservers,personalcomputers,printersandotherhardwareandsoftware.

• Developmentandmaintenanceoftheorganisation’sClientInformationManagementSystem(CIMS).

• ProvidingServiceDesksupportfordesktopsystems,FinanceOneandCIMS.

• Managingrecords,mailanddocumentmanagementsystems.

• Providingwebdevelopmentandmaintenance.

Ensuring compliant record keeping

TomeetourobligationsundertheprovisionsofthePublic Records Act 2002andtheprinciplescontainedinInformationStandard40:Recordkeeping.TheStateArchivistendorsedourStrategicRecordkeepingImplementationPlan.

During2009-10,wemadeconsiderableprogresstowardsachievingcompliancewithInformationStandard40,throughtheselectionandpurchaseofanelectronicdocumentrecordsmanagementsolution.ApilotwasimplementedinApril2010,withtherolloutacrossourorganisationscheduledtooccurin2010-11.

Weimprovedourrecordkeepingpracticesby:

• AppointingaRecordsManager

• Implementingacorporaterecordkeepingpolicy

• HavingourretentionanddisposalscheduleendorsedbytheStateArchivist

• Updatingjobdescriptionstoincluderecordkeepingasoneoftheresponsibilities

• Runningrecordkeepingawarenesssessionsforstaff.

Wealsoensuredourrecordsstaffreceivedongoingtrainingineffectiverecordsmanagementpractices.

AllnewWillsandEnduringPowersofAttorneymadebyThePublicTrusteeduring2009-10wereimagedelectronically.Thisfurtherenhancedourrecordkeepingcomplianceandprovidedoperationalefficienciesandpapersavings.

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Public Affairs

Duringthe2009-10,PublicAffairsprovidedmarketing,communicationandpublicrelationssupportandadvicetoourinternalandourexternalclients,includingourregionaloffices.

Inadditiontomaintainingourbrandandundertakingadvertisingandmediamanagement,ourPublicAffairsteamalsosupportedover100communityevents,speakingengagementsandsponsorships.Including:

• QueenslandSymphonyOrchestra–MusiconSundays

• SeniorSuperstar

• BrisbaneEKKA

• ToowoombaFarmFest

• LawWeek2010

• BrisbaneRetirementandLifestyleExpo

WearecommittedtoeducatingQueenslandersabouttheneedforeveryoneovertheageof18,tohaveavalidWillandanEnduringPowerofAttorney.Supportingsponsorships,eventsandspeakingengagementsareanimportantpartofmeetingourCommunityServiceObligations.

Supporting Planning for Life

DuringtheyearwesupportedtheDepartmentofJusticeandAttorney-General’sPlanning for Life ForumsheldinCairnsandToowoomba.TheseforumsweredesignedtoeducatethecommunityontheimportanceofhavingavalidWillandEnduringPowerofAttorneyforfinancial,healthandpersonalmatters.TheforumsalsohighlightedhowtheState’sjusticeandguardianshipagenciesinteracttoprotectvulnerableQueenslanders.

PeterCarne,ThePublicTrusteeofQueenslandjoinedwiththeHon.CameronDick,Attorney-GeneralandMinisterforIndustrialRelations,DiannePendergast,TheAdultGuardian,LindsayIrons,ThePublicAdvocateandrepresentativesoftheQueenslandCivilandAdministrativeTribunal,SeniorsLegalandSupportServiceandarangeofcommunityadvocacyagenciestopromotetheimportanceofallQueenslandersplanningfortheirfuture.

Sponsorship of 139 Club

InDecember2009,wesponsoredthe139Club,acharityinBrisbane’sFortitudeValleythatprovidesarangeofservicesandassistancetohomelesspeople.Withoursponsorship,the139Club’sManager,RodKellywasabletopurchase60streetswagstoassistthehomeless.

Rod Kelly and Peter Carne

Investment Services

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InvestmentServices

TheinvestmentstrategiesthatwereemployedtomanageourCommonFundresultedinstrongoutperformanceovertheforecastedbenchmarkandThePublicTrusteeInvestmentFundsperformedwellinvolatilemarketconditions.

Planning our investments

for the future

Forustocontinuetodeliverprudentinvestmentservicesefficientlyandeffectively,wemustprepareforfuturechangestothewaywemanageourassets. Wearecurrentlyassessingnewtechnologyandtheautomationofanumberofinvestmentrelatedfunctionstoensurethesustainabilityofouroperatingenvironment.

Wealsofacethechallengeofperforminginalowerandvolatilereturnenvironmentandensuringwerespondaccordingly.Toaddressthisissue,particularlyinresponsetotheuncertaintyinglobalmarketsoverthefinancialyear,wepartneredwithQICLimitedtodevelopinvestmentstrategiesforboththeCommonFundandThePublicTrusteeInvestmentFunds.

InvestmentServicesprovidesadviceandinvestmentsolutionstotheOfficeandourclients.Ourroleistoensuretheprudentialmanagementoffundsheldintrustonbehalfofourclientsbyprovidingprofessionalinvestmentservices.

Wecloselymonitorourinvestmentopportunities,particularlyinregardtoriskandreturns.Weworkinpartnershipwithotheragenciesandanumberofkeypartnersinthefinancialservicesindustrytobothsafeguardourassetsandmaximiseourreturns.

ThisyearwefocusedonplanningforthefutureneedsofourclientsandwedevelopedourInvestmentServicesOperationalPlaninlinewithourStrategic Plan 2009-2013.ThisalsoincludedareviewofInvestmentServicesseniorstructuretoensurewemeetourfutureobjectives.

Thisfinancialyear,thevolumeoffinancialassetsundermanagementexceeded$1.17Bandourfundsmanagementoperationswerebenchmarkedtoindustrystandards.

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Theseinitiativesprovideinvestmentportfoliodiversity,reduceriskandenhanceourabilitytomeetperformanceobjectives.Weareconfidentthatourplanningandstaffcommitmentwillpositionustomeettheexpectationsofourclientsandstakeholders.Oursuccessfulperformancethisyearisduetotheskillsanddedicationofourstaffandourpartnershipsinthefinancialservicesindustry.

Wehaveanumberofstaffinthefinancialplanningandtechnicalservicesunitwithfinancialplanningqualifications.ThesestaffareavailabletoassistourTrustOfficerswithinvestmentandfinancialplanningrelatedissues.

Wearefocusingonwaystoexpandandimproveourserviceswithintheorganisation.Wecommencedaprojectthisfinancialyear,toenhancetheefficiencyofourfinancialplanningprocessandreducethecostsinvolvedintheprovisionofthisservice.

ThisyearweenhancedtheinvestmentmanagementofourCommonFundbyimplementingarevisedinvestmentstrategy.Thisstrategyprovidesenhancedcapitalstability,minimisesinterestraterisksandenhancesthestabilityofincomepayments.

Ourinvestmentstrategywasimplementedthroughastagedprocessovertheyear.ThisrevisedstrategywillimproveriskcontrolandenhancetheabilityoftheCommonFundtoachieveourperformanceobjectives.

Financial Services

OurfinancialplanningservicesareprovidedthrougharrangementswithRBSMorgans,oneofAustralia’slargestfinancialplanningfirms.Throughthisarrangement,ourclientshaveaccesstoawiderangeofinvestmentandfinancialservices.Thelong-termmanagementofclients’largeholdingsoflistedequitiesisassistedbyRBSMorganswealth plus.

TheadministrationoflistedequitiesinestatemattersisassistedbyarangeofservicesprovidedbythestockbrokingfirmWilsonHTMLimited.

TheInvestmentServicesProgram,inconsultationwithQICLimited,isresponsibleforprovidinginvestmentadviceontheinvestmentmanagementonawiderangeofsocialinfrastructurefunds,suchasTheQueenslandCommunityFoundationandTheLadyBowenTrust.

Funds Management

Weareresponsiblefor$1.17Boffundsundermanagement.Asat30June2010thevolumeoffundsinvestedinThePublicTrusteeInvestmentFundwas$476M.TheinvestmentmanagementofThePublicTrustInvestmentFundiscarriedoutbyQICLimited,aGovernmentownedcorporationwithover$50Boffundsundermanagement.TheFundcomprisesfourunittrustseachwithitsowninvestmentstrategy.

InconsultationwithQICLimitedandThePublicTrustOfficeInvestmentBoard,wereviewedtheinvestmentstrategyofThePublicTrustInvestmentFundtoensureourlong-termobjectivescontinuedtobemet.

Oursuccessfulperformancethisyearisduetotheskillsanddedicationofourstaffandourpartnerships

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Fortheperiodended30June2010theperformanceoftheFund’sgrossoftaxesandfeeswasasfollows:

Public Trustee Higher Growth Fund

Public Trustee Growth Fund

Public Trustee Conservative Fund

Public Trustee Australian Equities Fund

Annual Return 1 Year p.a. 3 Years p.a. 5 Years p.a. 7 years p.a.

Fund 14.21% -6.80% 3.01% 7.02%

Benchmark 12.93% -5.62% 3.36% 6.98%


Fund 14.51% -3.62% 3.86% 6.91%

Benchmark 12.31% -2.54% 4.04% 6.74%


Fund 14.67% 1.07% 4.94% 6.59%

Benchmark 11.05% 1.96% 4.93% 6.28%


Fund 13.14% -6.93% 4.94% 10.30%

Benchmark 13.15% -7.84% 4.52% 9.73%

sourcedbymakinginvestmentsinarangeofQICLimited’sabsolutereturnfunds.Asat30June2010,themarketvalueofthefinancialassetsoftheCommonFundwasover$465M.

TheCommonFund’sallocationtocashandfixedinterestresultedinsoundinvestmentperformancewithareturnof7.26%fortheyear,similartothereturnof7.29%achievedlastfinancialyear.

AllinterestratespayableonfundsheldintheCommonFundwerereviewedonamonthlybasisbyThePublicTrustOfficeInvestmentBoardandThePublicTrusteeofQueenslandwasadvisedaccordingly.AnychangestointerestratesareactionedthroughamendmentstothePublic Trustee Regulation 2001.

Theyearended30June2010sawareboundinworldequitymarketsfollowingthelowexperiencedinMarch2009.Whilstglobalinterestratesremainedathistoricallowlevels,interestratesinAustraliahaveincreased.AnoverviewofinvestmentmarketsisoutlinedbyQICLimitedonpagex.

ThePublicTrusteeAustralianFixedInterestFundwasclosedduringtheyearandterminatedon30June2010.

TheinvestmentsoftheCommonFundconsistprimarilyofdirectinvestmentsinthecashandfixedinterestmarketsandinvestments.Theactivereturnstrategiesare

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Atthebeginningofthefinancialyear,equitymarketscontinuedtorallyfromthelowsofMarch2009,onindicationsthatworldeconomicgrowthwasbottoming.TheJunequarter2009finallysawpositiveeconomicgrowthinseveralemergingmarkets,onthebackofstrongChinesegrowth,aswellasarecoveryinEuropeandJapan.Thenarrowingofcreditspreadsandbankborrowingrateshelpedreducethecostofcapitalandimprovedcorporateearningsgrowth,supportingequitymarkets.Thetoneofeconomicdataimprovedsteadilyoverthesecondhalfof2009.

However,itwasevidenttheworld’slargesteconomiesremainedfragile.TheUnitedStatesemergedfromrecessioninOctober,howeverhousingdatatherecontinuestodisappointandjoblosses,whileonadownwardtrend,stillpushedtheunemploymentratetoa25-yearhigh.Theendofthecalendaryearwasdominatedbycrisesanduncertaintyandequitymarketstradedside-waysforawhile.

Bymid-ApriltheGreekdebttroubleswerecentreofmind.Riskappetiteevaporatedandequitymarketsbegantoreversethegainsofthefirsthalfofthefinancialyear.ByMay,thedebtcrisishadspreadacrosstheEuropeanperipheryandequitysold-offsharply.TheEUandIMFwereforcedtoenacta€750Bsupportfacilitytostemratingsdowngradesandsoaringsovereignbondyieldsincountrieswheredebtsustainabilitywasquestioned(especiallyGreece).DuringthefirsthalfofJune,equitymarketssawashorttermrallyassentimentimproved.However,bytheendofthemonth,theintroductionofausteritymeasuresacrossEurope,aswellasweakerdatafromtheUSandChina,increasedtheuncertaintyregardinggrowthforecasts,leadingtoanewsell-off.

InAustralia,theeconomywassupportedin2009bydemandgeneratedbygovernmentinfrastructurespendingandthesocialstimulus,offsettingpartoftheslowdowninconsumerdemand.ItappearedclearthattheAustralianrecessionhadbeenveryshallow,leadingtoarelativelyminorincreaseintheunemploymentrate.TheAustralianequitymarketwasverystronguntilOctober.CombinedwithastrongAustraliandollar,thismadetheAustralianmarketoneofthebestperformersaroundthedevelopedworlduptotheendofSeptember(+34.4%fromtheendofMarch2009).ThemarkettradedsidewaysbetweenendofSeptemberandendofFebruary,consolidatingtheverysharpgainsmadeinthefirstquarterofthefinancialyear.ItthenralliedsharplytomidApril,beforedecliningsignificantlytofinishtheyearup13.2%overthefinancialyear.

Year in review prepared by QIC Limited for The Public TrusteeMarket Review

Atthebeginningofthefinancialyear,sovereignbondyieldsralliedasinflationfearsdeclinedanditbecameapparentthatpolicyratesweretobekeptlowforanextendedperiod.However,inthemiddleofthefinancialyear,bondssold-offonexpectationsofheavysupplyin2010andrisinginflationexpectations.CorecountriessovereignbondsfinallyralliedfromApril,onflighttoqualityfollowingtheGreekdebtcrisis.Australianbondyieldswereveryvolatileovertheyear,withina5.1%to5.9%range.

Creditspreadsnarrowedastheeconomyrecovered,loweringtherisksoncorporateearnings.Liquidityimprovedsharply.Bytheendofthecalendaryear,investmentgradeandhighyieldnameswereabletoissuedebt.Withdebtcapitalmarketsopenandbusinessesabletorefinance,thedefaultoutlookhadimprovedconsiderably,supportingtherallyincreditmarkets.BytheendofMarch2010,highyieldspreadswereat5.70%,atwoyearlow,whileinvestmentgradecreditspreadswereat1.50%,theirlowestsinceNovember2007.However,riskaversionledtoanewincreaseincreditspreadsbytheendofthefinancialyear.UShighyieldsspreadsfinishedtheyearat7.0%andinvestmentgradespreadsat1.93%.

AtitsOctobermeeting,theReserveBankofAustraliabecamethefirstG20centralbanktostartunwindingmonetarypolicystimulus,witha25basispointincreaseintheofficialcashrateto3.25%.Itfollowedupwitha0.25%increment,astheoutlookforclosetotrendglobalgrowthin2010-11appearedmorecertain.Thecashratefinishedthecalendaryearat3.75%.TheReserveBankofAustraliathenpauseduntilMarch,asmarketvolatilityincreasedfollowingconcernsovertheEuropeandebtcrisis.ThreeconsecutivehikesinMarch,AprilandMaytookthecashrateto4.5%.

Australian and International equities

Alongwithotherriskyassets,therewasasustainedrallyacrossglobalequitymarketsformuchofthe2009-10financialyear.March2009markedthebottomformostglobalmarketsfollowingthedevastatinglossesfromtheGlobalFinancialCrisis.Fromextremelyhighlevels,riskaversionsubsidedaseconomicdatabegantoshowsignsofimprovementandcompanieswereabletodemonstratedramaticcostsavingstoreturntoprofit.

Therallylostitswaybymid-April2010,asrelativelycontainedGreekdebtconcernstransformedintoaEuropeansovereigndebtcrisisengulfingseveralperipheralEUnations.Thisunsettledequitymarketsgloballyandledtoare-ratingofthegrowthoutlook.Sincethen,troublingeconomicdatafromtheUShasaddedtothisuncertainty.

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35bpsand80bps,withGermanbondsthemainbeneficiaryfromtheflight-to-qualityfromperipheralEuropeancountries.

Aftertheturbulenceofthepasttwoyears,corporatecreditmarketsunderwentastrong,broad-basedrallyoverthefinancialyear.TheBarclaysCapitalUSInvestmentGradeIndexreturned15.9%,whiletheHighYieldIndexgained26.7%onatotalreturnbasis.Fromspreadsinexcessof600basispointsduringthefinancialcrisis,physicalinvestmentgradecreditralliedtoaround140basispointsbeforeclosingtheyearat193,inconjunctionwiththewithdrawalofriskcapitalassociatedwiththeEuropeansovereigndebtcrisis.Similarly,highyieldcreditspreadscontractedsignificantly.Theyfinishedthefinancialyearat233basispointsabovecomparableUSTreasuries,from376basispoints12monthsearlier.

Cash

TheReserveBankofAustraliaincreasedthecashratesixtimesovertheyeartakingthecashratefromitsemergencysettingof3.25%toamorenormalrateof4.50%.TheReserveBankofAustraliawereforcedtobalanceastrongrecoveryintheAustralianeconomywithglobaleconomicuncertaintyinthemajorEuropeanandUSmarkets.TheReserveBankofAustraliaremainedconcernedbythefactthatalthoughtheinflationratebeganslowing,itwasstillexpectedtotroughtowardsthehigherendofthetargetband.TheUBSABankBillindexreturned3.89%overtheyear.

Currency

TheAustraliandollarreachedahighof0.93USDbySeptember2009,onthebackofastrongpositiveinterestratedifferentialwithotherdevelopedeconomiesandstrongcommodityprices.ContinuedweaknessintheUSeconomyinthefirsthalfofthefinancialyearkepttheUSdollarweak.Theeuroreachedahighjustabove1.50USDbyNovember2009.

TheUSDappreciatedsolidlyduringDecembertorecordariseagainstboththeYenandtheEuro.Themaincatalystwasstrongerthanexpecteddataandastabilisationinunemployment.Atthebeginningofthecalendaryear,theGreeksovereigndebtcrisisfurtherweighedontheEuro.

TheBritishpounddeclinedsharplyfrommidNovember2009,onaweakeconomyandquantitativeeasing.TheYenalsounderperformedasauthoritiesintroducedfurtherexpansionaryfiscalandmonetarypolicies.

OvertheMarchquarter,risingcommoditypricesbenefitedtheAustralianandCanadiandollars,whilesovereigndebtconcernscontinuetoweighontheEuro.IntheJunequarter,riskaversiondrovetheYenandUSdollarup.

TheMSCIWorld(exAustralia)Indexofdevelopedmarketequitiespostedafullyearreturnof11.5%.Regionally,theUSS&P500gained14.4%,whiletheRussell2000Index,anindicatorofsmallcaps,wasup21.5%.InEurope,boththeDAXinGermanyandtheCACinFrancepostedsolidgains,up24.1%and14.0%,respectively,whiletheFTSE100inLondonwasup19.8%.TheJapaneseNikkei225wasdown5.8%.

Emergingmarketequitieswereagainstrongthisfinancialyear,withatotalreturnof19.8%ontheMSCIEmergingMarketsIndex.ThiswasdespiteweakChineseequities,withtheShanghaiCompositedown18.9%overthepast12months.

InAustralia,theS&P/ASX200AccumulationIndexreturned13.2%.TheInformationTechnologyandFinancialssectorswereparticularlystrongwhileEnergyandHealthcaredetracted.Smallcapsunderperformedthelargecapsbenchmark,withtheASXSmallOrdinariesAccumulationIndexadding11.2%.Onastylebasis,Australianvalueoutperformedthebroadermarket.

Global Listed Real Estate

GlobalListedRealEstateperformedstronglyoverthecourseofthe2010financialyearascreditconcernseasedandinvestorsreturnedtoriskassets.TheUBSGlobalInvestorsIndex(AUDHedged)finishedtheyearup39.1%.AllregionspostedpositivereturnswiththeexceptionofJapan.NorthAmericaandSingaporebothoutperformedtheglobalIndex,rallying53.2%and40.6%respectively.DomesticallytheASX300A-REITAccumulationIndexfinishedtheyear20.3%higher.Hotels(68.5%)wasthestrongestperformingsectorgivenitsleveragetotheeconomicrecovery,followedbyRetail(32.4%)andIndustrial(32.0%).

Fixed interest

Globalfixedinterestmarketswererangeboundformuchoftheyearasthemarketviewoscillatedbetweenastrongandaweakeconomicrecovery.However,thelaterpartoftheyearwasdominatedbyEuropeansovereignconcernswhichcausedglobalbondyieldstofallsignificantly.InAustralia,theReserveBankofAustrliaincreasedthecashratefrom3.25%toamorenormallevelof4.50%overtheyear,astheeconomyperformedwell.

Despitethecashraterise,10-yearbondsrallied43bpsto5.09%duetoglobalconcerns.US,EuropeanandUKbondsallralliedbetween

HumanResources

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HumanResourceManagement

Ourfocusduring2009-10wastoincreasethecapacityofourpeople.ItisthroughourstaffthatwedeliverourservicestoQueensland.ForthisreasonourStrategic Plan 2009-2013 placesstrongemphasisuponsupportingandimprovingourstaff.

OurhighlightsEstablishing a Learning

and Development Unit

Thisyearwecreatedanewunittoensurewetrainanddevelopourstaffeffectively.TheLearningandDevelopmentUnitachievedthefollowing:

• ContinuedtosupportourstaffundertakingCertificate,DiplomaandUnderGraduatequalificationthroughtheStudyandResearchAssistanceScheme.

• Coordinatedsignificantlearninganddevelopmenttrainingdeliveredbyexternalsuppliers.AhighlightwasarrangingtheQueenslandOmbudsman’sOfficetodelivercomplaintstrainingtoallstaffinallregions,sowecanimproveourservicetoourclients.

• Facilitatedthedeliveryofotherexternalcoursesincluding:

– CertificateIVinFinancialServices(PersonalTrustAdministration)

– CertificateIVinGovernment

– DiplomainFinancialPlanning

– PublicSectorManagementprogram(postgraduatecertificatelevel).

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• Co-ordinatedand/ordeliveredarangeofin-housedevelopmentopportunities,includingprovidingspecialisttechnicaltrainingforClientServicesstaff.Coursesincluded:

– PracticalPeopleManagement(PPM)program

– Springboardprogram

– DisabilityServicesAwarenessandCommunication

– Pro-socialbehaviourworkshops

– WillsandDocumentworkshops.

NextfinancialyearourLearningandDevelopmentUnitwillfocuson:

• Identifyingimprovedwaystodevelopourstaff

• ImplementingourPerformancePlanningandDevelopmentProgram

• Designinganddeliveringtraining

• ContinuingourStudyandResearchAssistanceScheme

• Increasingdeliveryoftechnicalandcommunicationtrainingtoourcoreservicedeliverystaff

• FinalisingProfessionalDevelopmentSupporttoolsandcalendar.

Peter Carne, Dr Leonie Horrigan and Peter Mulholland.

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Developing Performance

Planning and Development

Duringtheyearwecommittedtoabroadreviewofperformanceplanninganddevelopmentforallourstaff.

Newpoliciesandprocedureshavebeendevelopedthatwillbeimplementedin2010-11.Thiswillseeourstaffundertakeaco-ordinatedandclearperformanceplanninganddevelopmentcycle.Thisis tobesupportedbyacomprehensivetrainingprogram.

OurperformanceanddevelopmentprocessislinkedtodeliveringourStrategic Plan 2009–2013.Thiswillassistourstafftoclearlyunderstandtheirrolesandaccountabilities.

Workforce planning

Duringtheyearwecommencedaworkforceplanningproject.Thiswillcontinueinto2010-11,withareviewofourrecruitmentandselection,rewardsandrecognitionandretentionstrategies.

Wewilldevelopaclearplantoensurewehavetherightnumberofpeople,attherighttimetodeliverourservicestoQueenslanders.

Evaluating organisational culture

Duringtheyearwereviewedourworkandorganisational,culturesowecanbetterprogressorganisationalchangesinthecomingfinancialyear.Ourfocusison:

Transparency –wewillensureourdecisionsarehigh-quality,timelyandappropriate;andourstaffareempoweredtoquestiondecisionsanderrors,sowecanprovidethebestdecisionsforclients.

Client Service –wewillapproachclientservicewithclearopportunitiesforstafftoprovideinputtoplanningandideaswithinthescopeofourrole.

Practices and Procedures –wewillreviewourpractices,processesandprocedurestoensureourclientsreceivethehighestpossibleserviceinanefficientandeffectivemanner.

Delegations –wewillreviewourdelegationstoensurethatdecision-makingismadeattheappropriatelevel.

Personal Performance and Accountability – wewillemphasisetoourstafftheimportanceoftheirpersonalperformanceandaccountability.

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Our Workforce profile

Workforceprofileoftargetgroups-Equal Opportunity in Public Employment Act 1992

Category Total

Permanentstaff FullTime 434

PartTime 46

Total 480

Secondment(outofoffice) 4

Total 4

Temporarystaff FullTime 27

PartTime 4

Total 31

Grand Total 515

Category Staff

AboriginalandTorresStraitIslander 4

NonEnglish-SpeakingBackground 31

PeoplewithaDisability 38

Women 370

Voluntary early retirements

Wehadnovoluntaryearlyretirementsduring2009-10.

Redundancies

Therewerenoredundanciesin2009-10.

Whistleblowers

TherewerenodisclosuresmadeundertheWhistleblowers Protection Act 1994during2009-10.

Overseas travel

Nooverseastravelwasundertakenbyanyemployeesin2009-10.

Classification 2008-09 2009-10

AO2 102 96

AO3 129 145

AO4 66 64

AO5 25 27

AO6 13 16

AO7 4 3

AO8 1 1

PO3 4 5

PO4 7 9

PO5 1 1

PO6 1 1

SO1.1 0 1

SO2.1 0 1

Thetableidentifiesthenumberofwomenemployedateachclassificationlevelwithinourorganisation.

80

International Women’s Day 2010

EachyearweencourageourstafftocelebrateInternationalWomen’sDay, withmanyofourofficesacrossQueenslandholdingevents.Officesthatheldeventsincluded:Ipswich,Southport,SunshineCoast,Townsville,Cairns,GladstoneandBundaberg.

Thisyearover60stafffromourBrisbaneOfficesattendedanInternational Women’sDaymorningteacelebration at444QueenStreet.

PeterCarne,ThePublicTrusteeofQueenslandwasjoinedbyspeakersLindaLavarchformerAttorney-GeneralandMinisterforJustice,KerrinBensonCEOoftheMulticulturalDevelopmentAssociation,JenineBeekhyzenauthorandITspecialistandAlanaPellyaninspirationalconsultantandbreastcancersurvivor.

Initiatives for women

Womenare71%ofourworkforceandwearecommittedtoensuringacultureofequalopportunityexistswithinourorganisation.Initiativesthatassistwomentocompeteforpromotionequitablywithinourorganisationinclude:

• Springboardtraining

• SponsoringparticipationinthePublicSectorManagementProgram

• EncouragingwomentoobtaintertiaryqualificationsbyprovidingStudyandResearchAssistanceSchemeassistance

• Ensuringwomenarerepresentedonourboardsandcommittees.

Women on boards

OurInvestmentBoardhasfourmembersincludingMsHelenDavis,ChiefStrategyOfficer,QSuper.

OurStrategicGovernanceGrouphasseventeenmembers,includingKathrynWilliams,A/SpecialCounseland CarolineHannigan,ManagerAudit andEvaluationUnit.

Alana Perry, Kerrin Benson, Peter Carne, Linda Lavarch, Jenine Beekhyzen.

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Consultancies

Cost of boards and committees

Right to information

TheQueenslandGovernmenthasintroducedanewapproachtoaccessinginformation,withtheRight to Information Act 2009andtheInformation Privacy Act 2009.Governmentinformationistobereleasedadministrativelyasamatterofcourse,unlessthereisgoodreasonnottodoso.ApplicationsundertheRight

Name Cost for financial year

ThePublicTrustOfficeInvestmentBoard $3,851

AuditCommittee $12,669

to Information Act 2009 shouldbealastresort.

WehaverespondedtoQueenslandGovernment’spolicyby,wherepossible,releasinginformationadministratively.

Wealsodevelopedapublicationschemeonourwebsitewhichenablesustopublishavailableinformation.

Name Supplier

AurionCorporationPtyLtd 3,750.00

BDOKendalls 5,250.00

BrumfieldBird&SandfordPtyLtd 217.60

CCHAustralia 9,000.00

CompassAssetManagement 660.00

Deloitte 26,000.00

DeloitteActuaries&ConsultantsLtd 5,000.00

DeptofJustice&Attorney-General 2,427.27

DirectoryConceptsBrisbanePtyLtd 24,800.00

GourluckPtyLtd 7,650.00

GRRyanCostConsulting 2,250.00

HawkerBrittonPtyLtd 675.00

InfohrmPtyLtd 2,376.00

LambdaInvestmentSolutionsPtyLtd 9,000.00

LexisNexis 2,200.00

MercerAustraliaPtyLtd 26,796.00

NoelArnold&Associates 33,000.00

OfficeofEconomic&StatisticalResearch 385.45

People&PerformanceConsultingPtyLtd 47,864.96

PriceWaterHouseCoopers 11,853.20

TheConsultancyBureau 40,909.09

Total $267,038.21

FinancialStatements

InvestmentTrusts


Special purpose financial report

for the year ended 30 June 2010

134

LegislationThePublicTrusteeisacorporationsoleconstitutedunderthePublic Trustee Act 1978. TheAttorney-GeneralandMinisterforIndustrialRelationsisresponsibleforthePublic Trustee Act 1978.

ThePublicTrusteeofQueenslandand ThePublicTrusteehaveawiderangeofpowersandfunctionsandoperatesundermanyActsincludingthefollowing:

• Acquisition of Land Act 1967

• Adoption of Children Act 1964

• Art Unions and Public Amusements Regulation 1992

• Associations Incorporation Act 1981

• Charitable Funds Act 1958

• Child Protection Act 1999

• Child Protection (International Measures) Act 2003

• Collections Act 1966

• Companies (Acquisition of Shares) (Application of Laws) Act 1981

• Corrective Services Act 2000

• Criminal Proceeds Confiscation Act 2002

• Disposal of Uncollected Goods Act 1967

• Drugs Misuse Act 1986

• Gaming Machine Regulation 2002

• Guardianship and Administration Act 2000

• Information Privacy Act 2009

• Juvenile Justice Act 1992

• Land Sales Act 1984

• Local Government Act 1993

• Manufactured Homes (Residential Parks) Act 2003

• Mineral Resources Act 1989

• Mixed Use Development Act 1993

• Motor Accident Insurance Regulation 2004

• Personal Injuries Proceedings Act 2002

• Police Powers and Responsibilities Act 2000

• Powers of Attorney Act 1998

• Property Agents and Motor Dealers Act 2000

• Property Law Act 1974

• Public Officers Superannuation Benefits Recovery Act 1988

• Public Trustee Act 1978

• Residential Services (Accommodation) Act 2002

• Residential Tenancies Act 1994

• Retirement Villages Act 1999

• Right to Information Act 2009

• Second-hand Dealers and Pawnbrokers Act 2003

• Storage Liens Act 1973

• Succession Act 1981

• Trust Accounts Act 1973

• Trusts Act 1973

• Water Act 2000

• Workers Compensation and Rehabilitation Act 2003

135

GlossaryAccountable officer

ThechiefexecutiveofadepartmentofGovernmentdeclaredunderthePublic Service Act 2008,section14(1),istheaccountableofficerofthedepartment.(Financial Administration and Audit Act 1977, S 34(1)).

Annual Report

Awrittenreportontheoperationsoftheagencyduringthefinancialyear,asprescribedbytheFinancial Administration and Audit Act 1977, S 39.

Budget

AnoutlineofOffice’sprioritiesandplansforthecomingyear,expressedintermsoffinancialandnon-financialperformanceinformation.

Client Service Centres (CSC)

CSCsarestreamlinedprocessingcentreslocatedinlargerregionaloffices.

Community Service Obligations (CSO)

ServicestotheQueenslandcommunityperformedbytheOfficewhichareprovidedatnocosttoGovernment.

fiscal objectives

DetailtheOffice’scommitmenttomaintainingastrongfiscalpositionandassetbasetosupportthecurrentandfutureservicedeliveryneeds.

Government targets

Setspecific,observableandmeasurablegoalsforimprovementinkeypolicyareas.AchievementofGovernmenttargetsislikelytorequirecollaborationbetweenmultiplegovernmentagencies.

Toward Q2:Tomorrow’sQueenslandistheGovernment’sblueprintforthestatetothe year2020.

Non-Government Organisation (NGO)

Anassociationbasedonthecommoninterestsofitsmembers,individuals,orinstitutions.Ithasnogovernmentstatusorfunctionandisnotcreatedby,norisitsagendasetorimplementedby,agovernment.Theirworkisdevotedtotheenhancementofwelfareamongstthesociallydisadvantaged.

NGOsworkatthenationalorlocalcommunitylevelandoftenworkcooperativelywithgovernments.

public service office

AnentitystatedasapublicserviceofficeinSchedule1tothePublic Service Act 2008,orsubjecttosection23,anotherdesignatedentity,orpartofadesignatedentity,declaredunderaregulationtobeapublicserviceoffice.

136

Service Delivery Statement (SDS)

BudgetpaperspreparedonaportfoliobasisbyagenciesreportingtoeachMinisterandtheSpeaker.TheSDSsetoutthepriorities,plansandfinancialstatementsofagencies.

service standard

Describesthestandardsofefficiencyandeffectivenesstowhichtheagencywilldeliverserviceswithinitsfiscallimit.Standardsaresetwiththeaimofdefiningalevelofperformancethatisappropriatefortheserviceandisexpectedtobeachieved.

services

Servicesarethedeliverablesthatwillhelptheagencytoachieveitsobjectives.Theydescribetheareasinwhichanagencydeliversservicestoitsclientsatalevelappropriatetotheagency.

strategic plan

EachAccountableofficerandstatutorybodymustdevelopastrategicplanfortheagencytocoveraperiodofatleast4years.

strategyThewayinwhichanagencyintendstopursueitsobjectivesanddeliveritsservices,andassistinachievingtheGovernment’sobjectivesforthecommunity.

Strategiescanoccuratvariouslevelswithin anagency.

the OfficeAbbreviationinthisreportofThePublicTrustee.

The Public TrusteeThe 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.

The Public Trustee Annual Report 2009-10 is available at: www.pt.qld.gov.au

Marketing and CommunicationPhone: (07) 3213 9339 Email: [email protected]

Interpreter Service StatementWe 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

Contact UsBRISBAneTrustee House, 444 Queen Street, Brisbane GPO Box 1449, Brisbane, QLD 4001 Phone: (07) 3213 9288 Email: [email protected] Website: www.pt.qld.gov.au

BundABeRgTrustee House, 189 Bourbong Street, Bundaberg GPO Box 860, Bundaberg, QLD 4670 Phone: (07) 4181 0800 Email: [email protected]

CAIRnSTrustee House, 27 Sheridan Street, Cairns PO Box 656, Cairns QLD 4870 Phone: (07) 4040 7300 Email: [email protected]

glAdSToneTrustee House, 66 Goondoon Street, Gladstone PO Box 5021, Gladstone QLD 4680 Phone: (07) 4962 1100 Email: [email protected]

IPSwIChTrustee House, 99 Brisbane Street, Ipswich PO Box 140, Ipswich QLD 4305 Phone: (07) 3432 6611 Email: [email protected]

MACkAyTrustee House, 18 Brisbane Street, Mackay PO Box 401, Mackay QLD 4740 Phone: (07) 4969 4600 Email: [email protected]

MARyBoRoughTrustee House, 88 Ellena Street, Maryborough PO Box 280, Maryborough QLD 4650 Phone: (07) 4183 0900 Email: [email protected]

MounT ISATrustee House, 18 Miles Street, Mount Isa PO Box 2000, Mount Isa QLD 4825 Phone: (07) 4764 0500 Email: [email protected]

nAMBouRTrustee House, 72 Currie Street, Nambour PO Box 402, Nambour QLD 4560 Phone: (07) 5444 9400 Email: [email protected]

RedClIffeTrustee House, 165 Sutton Street, Redcliffe PO Box 131, Redcliffe QLD 4020 Phone: (07) 3817 9100 Email: [email protected]

RoCkhAMPTonTrustee House, 67 East Street, Rockhampton PO Box 273, Rockhampton QLD 4700 Phone: (07) 4999 3600 Email: [email protected]

SouThPoRTTrustee House, 66 Nerang Street, Southport PO Box 876, Southport QLD 4215 Phone: (07) 5588 5333 Email: [email protected]

STRAThPIneTrustee House, 9/481 Gympie Road, Strathpine PO Box 313, Strathpine QLD 4500 Phone: (07) 3142 1900 Email: [email protected]

SunShIne CoAST Suite 1-3, 20 Innovation Parkway, Birtinya PO Box 49, Buddina QLD 4575 Phone: (07) 5314 1800

ToowooMBA

Trustee House, 447 Ruthven Street, Toowoomba PO Box 139, Toowoomba QLD 4350 Phone: (07) 4631 8100 Email: [email protected]

TownSVIlleTrustee House, 438 Flinders Street, Townsville PO Box 960, Townsville QLD 4810 Phone: (07) 4753 0111 Email: [email protected]

© No part of this Annual Report may be reproduced in any format without the written approval of The Public Trustee of Queensland.

ABN 12 676 939 467

For more information about the services of The Public Trustee please visit www.pt.qld.gov.au

Regional Service delivery

Cairns

Townsville

Mount IsaMackay

Rockhampton

gladstoneBundaberg

Maryborough

nambourRedcliffeStrathpineBrisbane Metro

SouthportIpswich

Toowoomba

Sunshine Coast


To deliver a full range of professional, accessible and reliable trustee, financial and related services in a supportive,

compassionate and ethical manner.


To be Queensland’s best provider of trustee and administration services.

Annual Report

2009-2010

The Public Trustee

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