Finance and Council Controlled Organisations Committee
MINUTES
Minutes of an ordinary meeting
of the Finance and Council Controlled Organisations Committee held in the Edinburgh
Room, Municipal Chambers, The Octagon, Dunedin on Tuesday 11 September 2018,
commencing at 3.47 pm.
PRESENT
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Chairperson
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Cr Mike Lord
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Deputy Chairperson
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Cr Doug Hall
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Members
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Cr David Benson-Pope
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Cr Aaron Hawkins
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Cr Marie Laufiso
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Cr Christine Garey
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Cr Jim O'Malley
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Cr Chris Staynes
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Cr Andrew Whiley
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Cr Lee Vandervis
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IN ATTENDANCE
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Dave Tombs (General Manager
Finance and Commercial), Sandy Graham (General Manager Strategy and
Governance), Richard Davey (Treasury Manager), Gavin Logie (Financial
Controller) and Lawrie Warwood (Financial Analyst)
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Governance Support Officer Jennifer
Lapham
1 Public
Forum
There was no Public Forum.
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3 Confirmation
of agenda
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Moved (Cr Mike Lord/Cr Aaron Hawkins):
That the Committee:
Confirms the agenda with
the following alteration
In regard to Standing Order
21.1, Options C be adopted in relation to moving and seconding and speaking
to amendments.
Motion carried (FCCO/2018/016)
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4 Declarations
of interest
Members were reminded of the need to stand
aside from decision-making when a conflict arose between their role as an
elected representative and any private or other external interest they might
have.
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Moved (Cr Mike Lord/Cr Doug Hall):
That the Committee:
a) Notes if
necessary the Elected Members' Interest Register.
b) Confirms
the proposed management plan for Elected Members' Interests.
Motion carried (FCCO/2018/017)
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Part A Reports
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5 Waipori
Fund - Quarter Ending June 2018
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A report from Dunedin City
Treasury Limited provided information on the results of the Waipori Fund for
the quarter ending 30 June 2018.
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Moved (Cr Aaron Hawkins/Cr Andrew
Whiley):
That the Committee:
a) Notes the
report from Dunedin City Treasury Limited on the Waipori Fund for the quarter
ending 30 June 2018.
Motion carried (FCCO/2018/018)
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6 Financial
Result - Year Ended 30 June 2018
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A report
from Finance provided the financial results for the year ended 30 June 2018
and the financial position as at that date.
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Moved (Cr Mike Lord/Cr Chris Staynes):
That the Committee:
a) Notes the
Financial Performance for the year ended 30 June 2018 and the Financial
Position as at 30 June 2018.
b) Notes that
the year end result is subject to final adjustments and external audit by
Audit New Zealand.
Motion carried (FCCO/2018/019)
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7 Insurance
Renewal Year Ended 30 June 2019
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In a report from Finance a
summary of the insurance renewal for the Dunedin City Council for the year
ended 30 June 2019 was provided.
For the purposes of this
insurance policy renewal, the DCC Group (where referenced) comprises the
Dunedin City Council and any Council Controlled Organisation and/or
subsidiary company more than 50% owned by the Council – including but
not limited to: Dunedin City Holdings Limited; Dunedin City Treasury Limited;
City Forests Limited; Dunedin International Airport Limited; Dunedin Stadium
Property Limited; Dunedin Venues Management Limited; Dunedin Railways
Limited; The Theomin Gallery Management Committee (Olveston); and Dunedin
Transport Limited.
The report detailed the
changes that have been negotiated around policy terms, conditions, coverage,
excesses and premiums applied.
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Following discussion it was moved (Cr
Jim O'Malley/Deputy Chairperson Doug Hall):
That the Committee:
a) Notes the
Insurance Renewal Year Ended 30 June 2019.
Motion carried (FCCO/2018/020)
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8 Items
for Consideration by the Chair
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During the discussion on item 7 it was noted that as a
result of work undertaken by Mr Grant Mckenzie (Former Group Chief Financial
Officer), and continued by Mr Tombs, the Council’s insurance premiums
were considerably lower. Cr Vandervis requested that the Council
acknowledge the initial contribution of Mr Mckenzie.
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The meeting concluded at 4.04
pm. .
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C H A I R P E R S O N