LGMS Board Update - Q4 2021

In the 4th Quarter of 2021, the LGM Board of Management and the LGW Management Committee for the mutual schemes considered a number of important matters, with key highlights as follows:

LGM Board of Management 

LGM Financial Statements 2021- In accordance with the LGM Trust Deed the Financial Statements for the LGM mutual scheme is audited by the Queensland Audit Office annually to ensure the accounting records of the fund and other records relating to the accounts have been kept in accordance with generally accepted accounting principles. The QAO provides a written report to the Board and the LGAQ as Trustee on completion of each annual audit and provided an update at the meeting in this regard. The LGAQ as Trustee is pleased to report that LGM remains financially strong with total net assets of $79.6 Million at the end of 30 June 2021. The LGM Board accepted the LGM Financial Statements for 2020/21 and authorised signing on behalf of the LGM Board of Management.

LGW Management Committee 

LGW Financial Statements 2021 - In accordance with the LGW Scheme Rules the Financial Statements for the LGW mutual scheme is audited by the Queensland Audit Office annually to ensure the accounting records of the fund and other records relating to the accounts have been kept in accordance with generally accepted accounting principles. The QAO provides a written report to the Board and the LGAQ as Trustee on completion of each annual audit and provided an update at the meeting in this regard.  The LGAQ as Trustee is pleased to report that LGW remains financially strong with total net assets of $32.8 Million at the end of 30 June 2021. The LGW Management Committee accepted the LGW Financial Statements for 2020/21 and authorised signing on behalf of the LGW Management Committee.