DJs, canapes: How RBA staff party while your mortgage climbs

From ‘thank you’ parties to meet-and-greets - private emails between Reserve Bank of Australia staff reveal thousands of dollars spent on events while the cost of your mortgage soars. See the event details.

Private emails between Reserve Bank of Australia staff have revealed how thousands of dollars have been spent on office parties and lunches over the past year, including an August “welcome back to the office” knees-up with a DJ.

Two of the lunches – one a farewell in March this year and another to mark a retirement held in December last year – were hosted by Governor Philip Lowe himself.

The recently-released emails documenting the bank’s entertainment expenses from July 2021 to August 2022 also reveal staff trying to organise events amid the pandemic, with management having to pull the plug on a $14,000 “IT department Christmas Party” for 200 people the day before it was to have been held, costing the RBA $9000 in a lost deposit.

IT department end-of financial year celebration

An email between staff noted how the event – which had been scheduled to have been held on December 15 last year – was postponed and renamed: “IT End of Financial Year Celebration”.

RBA Governor Philip Lowe has no problem hiking interest rates while his staff party hard. Picture: AAP Image/Mick Tsikas

“I am sad to announce that I have taken a decision to cancel the IT Christmas Party planned for tomorrow evening,” a staffer wrote.

“Bringing 200 of us together in one venue for a few hours exposes us to a real risk and one that I am not comfortable to take.

“Unfortunately due to the short notice, we have lost the food component of the event $9000.”

The emails reveal the IT Department planned an end-of-financial year celebration in June this year instead.

IT end of year celebration

A separate email reveals planning is underway for the IT Department to hold a December party this year, although one executive staffer asking the event be renamed “IT End of Year Celebration” instead of “RBA Christmas Party”.

A separate email said the function should be held on December 7.

“As discussed, (blanked out) and I have provided a shortlist and recommendation for the IT Christmas Party in December,” a staffer wrote.

“Can you pleas (sic) approve our recommendation (blanked out) at (blanked out) to allow us to pay the deposit and secure the location.

“(Blanked out) has also approved the spend of $14K.”

A separate email from the RBA corporate services group discussed the payment of a deposit, but noted how a staff member involved with the fer “doesn’t have enough credit on her card to pay the deposit this afternoon”.

Data technologies Christmas lunch

On December 2 last year, email exchanges between staff reveal planning for a Level 20 “Data Technologies Christmas Lunch + Farewell on L20”.

“We have invited 32 people but I am basing numbers off 30 attending,” the staffer wrote.

“There is a 30 person minimum for the buffet + drinks (mix of alcohol & soft drink + water – enough to last the 3.5 hrs) + a farewell cake for (maybe with writing on it?).

“Could you please let me know an approximate cost and I’ll get it approved.”

Party time anyone? The RBA doesn’t appear to need much of a reason to throw a shindig.

Team build and Christmas lunch

Another email dated December 15 last year documented approval of $1998 for a team lunch.

Staff thank you party

In August this year, the RBA also held a “thank you party” for staff, featuring a DJ, free drinks over four hours and a canape selection comprising offerings such as market fresh fish and chips along with gribiche sauce, chilled tiger prawns, Peking duck pancakes and salt and pepper calamari.

The event had originally been called the “Reserve Bank of Australia Welcome Back to the Office Party”, but was renamed a “Thank You Party” when it was moved from March 25 to August 19 in response to the ban on stand-up drinking.

“Have spoken to my contact at (blanked out) and she feels the event on March 25 would be ‘very challenging’ to hold,” an RBA staffer wrote.

“The event itsn’t impacted by the reimposition of the 2 sqm rule … but she mentioned one change that I hadn’t thought of – the banning of stand-up drinking.”

Mid-year party

One branch of the RBA sought approval for a “mid-year party” on July 7 for 60 people – costing over $3000.

“Looking to have a bar tab and a mixture of selected canapes,” a staffer wrote.

End of year dinner

On December 3 last year, 14 RBA staff booked a table at an undisclosed restaurant with an email containing the credit card authorising describing it as a “Reserve Bank of Australia Holiday & End of Year Dinner”.

Retirement dinner

On December 13, Mr Lowe authorised and hosted an intimate farewell party for staffer Tony Richards in the Level 11 RBA Board Dining Room with 13 guests.

A menu attached to the document showed the group enjoyed pan-roasted barrumndi fillet, creamy soft polenta salsa and a red wine and rosemary reduction followed by a red wine poached pear dessert with pistachio brittle, rhubarb confit and blueberry compote.

Farewell lunch

On March 16 this year, Mr Lowe authorised and hosted a farewell party on Level 20 for the Deputy Governor, with the group of 30 dining on cocktails and canapes, including duck crepes, Thai beef skewer, tempura pumpkin flowers, goats cheese & caramelised onion tart, cocktail beef & burgundy pies and spinach & cheese filos.

Audit committee cocktail function

On May 3 this year, approval was sought for a function for the “Audit Committee” to meet with the bank’s “audit, finance and risk and compliance teams” to “share experiences” in the “bar area” of Level 20. .

An attached proposed menu for the “audit committee cocktail function” showed the 27 guests would be offered a selection of cold and hot canapes, including oven roasted salmon with celeriac remoulade and panko crumbed barramundi with tartare.

LAWN INDEX

Labor MP Jason Yatsen-Li is being accused by Strathfield locals of not living in the seat.

The former United Nations lawyer and successful businessman declared at the time of the February by-election that should he win he would relocate from Cremorne to the area.

Before The Sauce inquiry - unattended lawn and hedge at the Strathfield home of Labor MP Jason Yatsen-Li. Picture: Supplied

A news article published at the time said Yatsen-Li had taken a lease out on a house in the electorate as well as enrolling his children at the local schools.

Eight months on, locals reckon the scrappy grass and overgrown hedge suggest Yatsen-Li may not yet be in the property.

Upon making an inquiry, The Sauce was told he was living there.

After The Sauce inquiry - lawn and hedge trimmed. Picture: Supplied

We were also told the family would be relocating to the house upon Yatsen-Li’s daughter finishing Year 6.

Curiously, a day after our inquiry, our Strathfield informant noted the lawn and hedges being furiously attended to.

FRED’S ARK

Has Chrisitian Democrat MLC Fred Nile seen the light?

That’s what some of this Upper House colleagues reckon after noting his recently support of all things animal justice.

The man dubbed by one of his colleagues as a “proud right-wing Christian" has apparently been voting with Animal Justice MP Emma Hurst on issues ranging from puppy farms to saving the brumbies, prompting one of his colleagues to declare: “He’s clearly been captured by the Animal Justice Party.”

Should this be the case, we guess Nile won’t be voting in favour of the new NSW Nationals bill to strip local councils of their ability to regulate private logging and extend private forestry approvals from 15 years to 30 given the speculated impact on the already threatened koala population.

CHEAT SHEET

After being accused of fumbling over his figures when he declared “30”, then “25”, then “20” nurses had quit Blacktown Hospital recently, Labor leader Chris Minns was last week taking no chances.

Chris Minns with cheat notes on his hand during the press conference in Sydney.

Fronting a press conference to announced a $225 million upgrade of Canterbury Hospital should he take over the reins in March, a sharp-eyed observer noted he had the figure “225” scrawled in pen on his hand.

He would well be thinking of his predecessor Michael Daley who famously was unable to outline his education and TAFE funding commitment during a crucial pre-election debate in 2019 – a fumble that marked the beginning of the end for the then Labor leader.

GOT SOME SAUCE? CONTACT [e-mail]