Notice of Meeting:
I hereby give notice that an ordinary meeting of the Audit,
Risk and Assurance Committee will be held on:
Date: Friday
27 March 2026
Time: 9:45
a.m.
Venue: Council
Chamber, Dunedin Public Art Gallery, The Octagon, Dunedin
Sandy Graham
Audit, Risk and Assurance Committee
PUBLIC AGENDA
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Chairperson
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Mr Bruce Robertson
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Deputy Chairperson
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Ms Rachael Dean
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Members
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Mayor Sophie Barker
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Cr John Chambers
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Cr Cherry Lucas
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Cr Andrew Simms
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Cr Lee Vandervis
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Senior Officer Carolyn
Allan, Chief Financial Officer
Governance Support Officer Jean
Cockram
Jean Cockram
Governance Support Officer
Telephone: 03 477 4000
jean.cockram@dcc.govt.nz
www.dunedin.govt.nz
Note: Reports
and recommendations contained in this agenda are not to be considered as
Council policy until adopted.
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Audit, Risk and Assurance
Committee
27 March 2026
|
ITEM TABLE OF CONTENTS PAGE
1 Apologies 4
2 Confirmation
of Agenda 4
3 Declaration
of Interest 5
4 Confirmation
of Minutes 10
4.1 Audit, Risk and
Assurance Committee meeting - 4 December 2025 10
Part
A Reports (Committee has power to decide these matters)
5 ARAC
Workplan Update 2026-27 21
6 General
Matters Update Report - March 2026 24
7 Health,
Safety and Wellbeing Monthly report for January 2026 30
8 Financial
Report - Period ended 31 January 2026 50
9 Waipori
Fund - Quarter ending 31 December 2025 79
10 Financial
Strategy Compliance 85
Resolution to Exclude the Public 97
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Audit, Risk and Assurance
Committee
27 March 2026
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1 Apologies
At the close of the agenda no
apologies had been received.
2 Confirmation
of agenda
Note:
Any additions must be approved by resolution with an explanation as to why they
cannot be delayed until a future meeting.
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Audit, Risk and Assurance Committee
27 March 2026
|
Declaration of Interest
EXECUTIVE SUMMARY
1. Members
are reminded of the need to stand aside from decision-making when a conflict
arises between their role as an independent or elected representative and any
private or other external interest they might have.
2. Elected
and Independent members are reminded to update their register
of interests as soon as practicable, including amending the register at this
meeting if necessary.
RECOMMENDATIONS
That the Committee:
a) Notes/Amends if
necessary the Elected or Independent Members' Interest Register attached as
Attachment A; and
b) Confirms/Amends the
proposed management plan for Elected or Independent Members' Interests.
Attachments
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Title
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Page
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⇩a
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Register of Interests -
March 2026
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6
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Audit, Risk and Assurance Committee
27 March 2026
|
|
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Audit, Risk and Assurance Committee
27 March 2026
|
Confirmation
of Minutes
Audit,
Risk and Assurance Committee meeting - 4 December 2025
RECOMMENDATIONS
That the Committee:
a) Confirms the public
part of the minutes of the Audit, Risk and Assurance Committee meeting held on 04
December 2025 as a correct record.
Attachments
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Title
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Page
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A⇩
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Minutes of Audit, Risk
and Assurance Committee meeting held on 4 December 2025
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11
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Audit, Risk and
Assurance Committee
27 March 2026
|
Audit, Risk and Assurance Committee
MINUTES
Minutes of
an ordinary meeting of the Audit, Risk and Assurance Committee held in the
Council Chamber, Dunedin Public Art Gallery, The Octagon, Dunedin on Thursday
04 December 2025, commencing at 11.30 am
PRESENT
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Chairperson
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Warren
Allen
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Deputy Chairperson
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Janet
Copeland (via audio visual link)
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Members
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Mayor
Sophie Barker
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Cr
John Chambers
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Cr
Cherry Lucas
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Cr
Andrew Simms
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Cr Lee
Vandervis
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IN ATTENDANCE
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Sandy Graham
(Chief Executive), Carolyn Allan (Chief Financial Officer), Hayley Knight
(Assurance Manager), Paul Henderson (General Manager Corporate and Regulatory
Services), Scott MacLean (General Manager City Services), David Ward (General
Manager 3 Waters, Property and Urban Development), Jane Pearce (Health and
Safety Manager), Jinty MacTavish (Manager Zero Carbon), Jonathan Rowe
(Programme Manager, South Dunedin Future), Tania Cribb (Risk Manager),
Councillors Doug Hall, Mandy Mayhem, Benedict Ong and Russell Lund.
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Governance Support Officer Wendy Collard
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1 Apologies
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An apology has been received from
Janet Copeland for early departure.
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Moved (Warren Allen/Cr Cherry Lucas):
That the
Committee:
Accepts the apology from Janet Copeland for early departure.
Motion carried (ARAAC/2025/001)
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2 Confirmation
of agenda
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Moved (Warren Allen/Mayor Sophie Barker):
That the
Committee:
Confirms the agenda without addition or alteration
Motion carried (ARAAC/2025/002)
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3 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 (Mr Warren Allen/Cr Cherry Lucas):
That the
Committee:
a) Notes the Elected or Independent Members' Interest Register
attached; and
b) Confirms the proposed management plan for Elected
or Independent Members' Interests.
Motion carried (ARAAC/2025/003)
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Part
A Reports
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4 Delegations
for the Audit, Risk and Assurance Committee
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A report
from Civic provided a copy of the Audit, Risk and Assurance Committee’s
delegations for the Committee’s information.
The
Chairperson (Warren Allen) provided an overview of roles and responsibilities
of an Audit, Risk and Assurance Committee.
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Moved (Warren Allen/Cr Cherry Lucas):
That the
Committee:
Notes the delegations and overview of the Audit, Risk and Assurance
Committee.
Motion carried (ARAAC/2025/004)
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5 Audit,
Risk and Assurance Committee Work Plan 2025-26
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A report
from Civic provided a copy of the Audit, Risk and Assurance Committee Work
Plan 2025-26 which had been aligned to work programme scheduling and decision
making.
The Chief Financial Officer (Carolyn
Allan) and the Assurance Manager (Hayley Knight) spoke to the report and
responded to questions.
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Moved (Warren Allen/Mayor Sophie Barker):
That the
Committee:
a) Notes the Audit, Risk and Assurance Committee Work Plan for
2025-26.
Motion carried (ARAAC/2025/005)
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6 Audit,
Risk and Assurance Committee Updates Report - December 2025
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A report
from Finance provided updates on the progress of various sundry matters that
have been noted by the Committee.
The Chairperson (Warren Allen), the Chief
Financial Officer (Carolyn Allan) and the Assurance Manager (Hayley Knight)
spoke to the report and responded to questions.
The Chairperson thanked the staff and the
external auditors for their conscientious hard work with the preparation of
the Annual Report 2024-2025 to meet the 31 October 2025 deadline.
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Moved (Warren Allen/Cr Cherry Lucas):
That the
Committee:
a) Notes the Audit, Risk and Assurance Committee Updates
Report – December 2025
Motion carried (ARAAC/2025/006)
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7 Health,
Safety and Wellbeing Monthly report for September and October 2025
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A report
from Health and Safety provided the monthly Health, Safety and Wellbeing
report for September and October 2025 for the Committee’s information.
The Chief
Executive (Sandy Graham), the General Manager 3 Waters, Property and Urban
Design (David Ward), the General Manager City
Services (Scott MacLean) and the Health and Safety
Manager (Jane Pearce) spoke to the report and responded to questions.
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Moved (Warren Allen/Cr Cherry Lucas):
That the
Committee:
a) Notes the monthly Health, Safety and Wellbeing report for
September and October 2025.
Motion carried (ARAAC/2025/007)
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8 Waipori
Fund - Quarter ending 30 September 2025
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A report
from Dunedin City Treasury provided information on the results of the Waipori
Fund for the quarter ended 30 September 2025. The report was presented
to the Council meeting held on Tuesday, 11 November 2025.
The Treasury
Manager (Richard Davey) spoke to the report and responded to questions.
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Moved (Warren Allen/Cr Lee Vandervis):
That the
Committee:
a) Notes the report from Dunedin City Treasury Limited on the
Waipori Fund for the quarter ended 30 September 2025.
Motion carried (ARAAC/2025/008)
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9 Climate-related
risk management
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A report
from Zero Carbon, Climate and City Growth and Quality and Improvement
provided information on the DCC’s current climate-related risk
management framework, and compared this with evolving best practice. It
discusses potential to strengthen the DCC’s approach.
The General Manager, City Services (Scott
MacLean), the Zero Carbon Manager (Jinty MacTavish), the Programme Manager,
South Dunedin Future (Jonathan Rowe) and the Risk Manager (Tania Cribb) spoke
to the report and responded to questions.
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Moved (Warren Allen/Mayor Sophie Barker):
That the
Committee:
a) Notes the climate-related risk management report
b) Recommends staff investigation of ways
the DCC could align more strongly with the NZ Climate Standards approach to climate-related
risk management
Motion carried (ARAAC/2025/009) with
Cr Vandervis recording his vote against
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10 Financial
Report - Period ended 30 September 2025
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A report
from Finance provided the financial results for the period ended 30 September
2025 and the financial position as at that date. It noted that the
report was presented to the Council meeting held on Tuesday, 11 November
2025.
The Chief Financial Officer (Carolyn
Allan) spoke to the report and responded to questions.
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Moved (Warren Allen/Cr Cherry Lucas):
That the
Committee:
a) Notes the Financial Performance for the period ended 30
September 2025 and the Financial Position as at that date.
Motion carried (ARAAC/2025/010)
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11 Financial
Strategy Compliance - November 2025
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A report
from Finance provided provides a summary of rate and debt limits, including
group debt limits. It noted that the purpose of the report is to
monitor compliance against these limits.
The Chief Financial Officer (Carolyn
Allan) spoke to the report and responded to questions.
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Moved (Warren Allen/Cr Cherry Lucas):
That the
Committee:
a) Notes the Financial Strategy Compliance – November
2025.
Motion carried (ARAAC/2025/011)
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12 Elected
Member Gifts and Hospitality - Guidance
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A report
from Finance provided an overview of the management of gifts and hospitality
offered to elected members for the Committee’s information.
The Chief Financial Officer (Carolyn
Allan) and the Assurance Manager (Hayley Knight) spoke to the report and
responded to questions.
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Moved (Warren Allen/Cr Lee Vandervis):
That the
Committee:
a) Notes the Elected Member Gifts and Hospitality –
Guidance report.
Motion carried (ARAAC/2025/012)
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Resolution to Exclude the Public
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Moved (Warren Allen/Cr Cherry Lucas):
That the
Committee:
Pursuant to the provisions of the Local Government Official
Information and Meetings Act 1987, exclude the public from the following part
of the proceedings of this meeting namely:
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General subject of the matter to be considered
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Reasons
for passing this resolution in relation to each matter
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Ground(s)
under section 48(1) for the passing of this resolution
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Reason
for Confidentiality
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C1 Treasury Risk Management Compliance Report
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S7(2)(h)
The
withholding of the information is necessary to enable the local authority
to carry out, without prejudice or disadvantage, commercial activities.
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S48(1)(a)
The
public conduct of the part of the meeting would be likely to result in the
disclosure of information for which good reason for withholding exists
under section 7.
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C2 Dunedin City Holdings Ltd - Update on Audit and Risk
Activity
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S7(2)(b)(ii)
The
withholding of the information is necessary to protect information where
the making available of the information would be likely unreasonably to
prejudice the commercial position of the person who supplied or who is the
subject of the information.
|
S48(1)(a)
The
public conduct of the part of the meeting would be likely to result in the
disclosure of information for which good reason for withholding exists
under section 7.
|
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C3 Report to the Council on the Audit of Dunedin City
Council for year end 30 June 2025
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S7(2)(b)(ii)
The
withholding of the information is necessary to protect information where
the making available of the information would be likely unreasonably to
prejudice the commercial position of the person who supplied or who is the
subject of the information.
|
S48(1)(a)
The
public conduct of the part of the meeting would be likely to result in the
disclosure of information for which good reason for withholding exists under
section 7.
|
|
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C4 Finance Operational Assurance Report
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S7(2)(h)
The
withholding of the information is necessary to enable the local authority
to carry out, without prejudice or disadvantage, commercial activities.
|
S48(1)(a)
The
public conduct of the part of the meeting would be likely to result in the
disclosure of information for which good reason for withholding exists
under section 7.
|
The
information in this report is commercially sensitive.
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C5 Finance Operational Assurance Report to be deleted
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S7(2)(h)
The
withholding of the information is necessary to enable the local authority
to carry out, without prejudice or disadvantage, commercial activities.
|
S48(1)(a)
The
public conduct of the part of the meeting would be likely to result in the
disclosure of information for which good reason for withholding exists
under section 7.
|
The
information in this report is commercially sensitive..
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C6 Risk Deep Dive: Fraud and Corruption
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S7(2)(c)(i)
The
withholding of the information is necessary to protect information which is
subject to an obligation of confidence or which any person has been or
could be compelled to provide under the authority of any enactment, where
the making available of the information would be likely to prejudice the
supply of similar information or information from the same source and it is
in the public interest that such information should continue to be
supplied.
|
S48(1)(a)
The
public conduct of the part of the meeting would be likely to result in the
disclosure of information for which good reason for withholding exists
under section 7.
|
|
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C7 DCC External Audit Actions Update - November 2025
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S7(2)(c)(i)
The
withholding of the information is necessary to protect information which is
subject to an obligation of confidence or which any person has been or
could be compelled to provide under the authority of any enactment, where
the making available of the information would be likely to prejudice the
supply of similar information or information from the same source and it is
in the public interest that such information should continue to be
supplied.
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S48(1)(a)
The
public conduct of the part of the meeting would be likely to result in the
disclosure of information for which good reason for withholding exists
under section 7.
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C8 Internal Audit Workplan Update
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S7(2)(b)(i)
The
withholding of the information is necessary to protect information where
the making available of the information would disclose a trade secret.
S7(2)(c)(i)
The
withholding of the information is necessary to protect information which is
subject to an obligation of confidence or which any person has been or
could be compelled to provide under the authority of any enactment, where
the making available of the information would be likely to prejudice the
supply of similar information or information from the same source and it is
in the public interest that such information should continue to be
supplied.
S7(2)(h)
The
withholding of the information is necessary to enable the local authority
to carry out, without prejudice or disadvantage, commercial activities.
|
S48(1)(a)
The
public conduct of the part of the meeting would be likely to result in the
disclosure of information for which good reason for withholding exists
under section 7.
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|
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C9 Improvement Opportunities - Actions Update
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S7(2)(c)(i)
The
withholding of the information is necessary to protect information which is
subject to an obligation of confidence or which any person has been or
could be compelled to provide under the authority of any enactment, where
the making available of the information would be likely to prejudice the
supply of similar information or information from the same source and it is
in the public interest that such information should continue to be
supplied.
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S48(1)(a)
The
public conduct of the part of the meeting would be likely to result in the
disclosure of information for which good reason for withholding exists
under section 7.
|
|
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C10 Protected Disclosure Register - November 2025
|
S7(2)(a)
The
withholding of the information is necessary to protect the privacy of
natural persons, including that of a deceased person.
S7(2)(c)(i)
The
withholding of the information is necessary to protect information which is
subject to an obligation of confidence or which any person has been or
could be compelled to provide under the authority of any enactment, where
the making available of the information would be likely to prejudice the
supply of similar information or information from the same source and it is
in the public interest that such information should continue to be
supplied.
|
S48(1)(a)
The
public conduct of the part of the meeting would be likely to result in the
disclosure of information for which good reason for withholding exists
under section 7.
|
|
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C11 Investigation Register - November 2025
|
S7(2)(a)
The
withholding of the information is necessary to protect the privacy of
natural persons, including that of a deceased person.
S7(2)(c)(i)
The
withholding of the information is necessary to protect information which is
subject to an obligation of confidence or which any person has been or
could be compelled to provide under the authority of any enactment, where
the making available of the information would be likely to prejudice the
supply of similar information or information from the same source and it is
in the public interest that such information should continue to be
supplied.
|
S48(1)(a)
The
public conduct of the part of the meeting would be likely to result in the
disclosure of information for which good reason for withholding exists
under section 7.
|
|
This resolution
is made in reliance on Section 48(1)(a) of the Local Government Official
Information and Meetings Act 1987, and the particular interest or interests
protected by Section 6 or Section 7 of that Act, or Section 6 or Section 7 or
Section 9 of the Official Information Act 1982, as the case may require,
which would be prejudiced by the holding of the whole or the relevant part of
the proceedings of the meeting in public are as shown above after each item.
Motion carried (ARAAC/2025/013)
|
The meeting adjourned at 1.21 pm and
reconvened in non-public at 1.30 pm.
The meeting concluded at 3.02 pm.
..............................................
CHAIRPERSON
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Audit, Risk and Assurance Committee
27 March 2026
|
Part
A Reports
ARAC Workplan Update 2026-27
Department: Civic
EXECUTIVE SUMMARY
1 This
report provides a copy of the Audit, Risk and Assurance Committee (ARAC)
Workplan 2026-27 which has been aligned to work programme scheduling and
decision making.
2 Please
note that the items without ticks shown have not been scheduled for action.
Please also note that an action register will be included in future agendas.
3 As
this is an administrative report only, the Summary of Consideration is not
required.
RECOMMENDATIONS
That the Committee:
a) Notes the Audit, Risk
and Assurance Committee Workplan for 2026-27.
Signatories
|
Author:
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Jean Cockram - Governance Support Officer
|
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Authoriser:
|
Carolyn Allan - Chief Financial Officer
|
Attachments
|
|
Title
|
Page
|
|
⇩a
|
Audit, Risk and Assurance
Committee Work Plan March 2026
|
22
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|
Audit, Risk and Assurance Committee
27 March 2026
|
|
|
Audit, Risk and Assurance Committee
27 March 2026
|
General Matters Update Report - March 2026
Department: Finance and Civic
EXECUTIVE SUMMARY
1 This
report provides updates on the progress of various matters that have been noted
by the Audit, Risk and Assurance Committee.
RECOMMENDATIONS
That the Committee:
a) Notes the Audit, Risk
and Assurance Committee Updates Report – March 2026
DISCUSSION
Insurance
2 The
insurance renewal process is due to commence in preparation for the renewal of
policies for the period 30 June 2026 to 30 June 2027. The renewal covers the
majority of policies within the DCC insurance programme, excluding General
Liability insurance policies.
3 Following
the high wind event on 23rd October 2025, damage was sustained to several DCC
insured assets including the Ice Stadium, the Railway Station and Tahuna
Wastewater Treatment Plant. Insurers were notified and a loss adjuster has
assessed the damage and associated cost of repairs. Claims have been accepted
under the material damages and business interruption policy.
4 Full
cost insurance valuations are being completed at the DCC aquatic buildings and
University Oval assets (including plant). Valuers completed site inspections in
February.
5 Refresher
training is scheduled in March with Project and Contract Managers on the
contract works insurance policy including key risks around hot works and
hazardous substance warranties.
6 DCC
are investigating undertaking an updated risk assessment of risk to above
ground assets in the event of an earthquake. This modelling was last completed
in 2022. The current loss limit is set at $865.5 million covering insured
assets of $3 billion across the Group.
2026/27 Annual Plan
7 Work
on the development of the Annual Plan 2026/27 continues. Annual Plan draft budget
reports were considered at a Council meeting in early March 2026.
8 At
the time of writing this report, staff are finalising the Annual Plan
consultation document, which is required to be formally adopted by Council under
the Local Government Act 2002, along with supporting information. Most of the
supporting information, including draft financial statements and funding impact
statements, was adopted at the March budget meeting. Final supporting
information and the consultation document will be adopted at Council’s
meeting on 25 March 2026.
9 The
consultation document explains the Council’s proposals for any
significant or material differences from the 9 year plan for the period from 1
July 2026 to 30 June 2027. In the case of the draft Annual Plan 2026/27, this
is a proposed change to rating differentials.
10 Community consultation
is scheduled from 30 March to 29 April 2026. Those who submit as part of the
consultation will have an opportunity to speak directly to elected members at
the Council meeting on 13 May 2026, should they wish to do so.
11 Council
will consider community feedback at a budget update meeting on 27 May 2026.
12 The Annual
Plan 2026/27 will be adopted by Council by 30 June 2026.
10 Year Plan 2027-37
13 Preliminary
work on the 10 year plan 2027-37 (the 10 year plan) began in March 2026.
14 In line
with legislation, detailed information on water services will not be included
in the 10 year plan. The 10 year plan and Council’s inaugural Water
Services Strategy will be developed in parallel to ensure alignment and to
reduce duplication of effort.
15 A project
plan has been developed, with a high level summary of this expected to be
presented to Council in April 2026.
16 Early
engagement on the 10 year plan is scheduled for 14 April to 31 May 2026. The
intention is to seek broad community feedback and priorities on a wide range of
topics, including whether to do a full review of the options relating to Smooth
Hill.
Annual Report 2025/26
17 As
previously noted, recommended improvements to the development of future Annual
Reports are as follows:
a) 3
Waters valuations are completed as at 31 March. Over the past four years, there
have been recurring issues with valuations, and completing them three months
earlier than usual provides a buffer to address any potential challenges.
b) More
detail is included on the performance of each Council-Controlled Organisation
(CCO). While the primary focus of the Annual Report is the performance of the
DCC, more supporting information on CCOs would provide helpful context to a
reader.
c) The
timeline for the development of the Annual Report is incrementally brought
forward each year, in consultation with Dunedin City Holdings Limited and Audit
NZ. This will ensure that the 2027/28 Annual Report can be adopted ahead of the
next local government elections.
18 Council is
on track for 3 Waters assets to be valued as at 31 March 2026. A competitive
tender process for the valuation work has been completed, and a new supplier
has been approved.
19 Staff met
with Audit New Zealand in mid-March to discuss an audit plan for the 2025/26
Annual Report. In line with recommended improvements above, the adoption of the
Annual Report is proposed to be moved a week earlier than in 2025, and adopted
at an additional Council meeting on 23 October 2026.
Policy
Updates
20 The
following policies are undergoing review:
a) Asset
Management Policy
b) Asset
Disposal and Write-Off Policy
c) ICT
Acceptable Use Policy
d) Information
Management Policy
e) Health,
Safety and Wellbeing Policy
f) Staff
Code of Conduct
g) Protected
Disclosures (Whistleblower) Policy.
21 After
the review process, updated copies of DCC policies will be provided to ARAC for
approval.
Waters
Services Delivery Plan (Local Water Done Well)
22 The Water
Services Delivery Plan - Implementation Plan has been developed and approved;
this includes the actions that are required to meet the new regulations within
set timeframes.
23 A project
control group has been established and includes two members from ELT (Chief Financial
Officer and General Manager 3 Waters, Property and Urban Development), the
Project Control Group will be responsible for ensuring the programme of work is
on track. The largest impacts from this work will be on the 3 Waters and
Finance teams. The group is currently establishing workstreams and responsible
officers.
24 The first
report to the Department of Internal Affairs on implementation plan progress is
due at the end of April 2026 and will cover the period from January to March
2026.
25 The
Commerce Commission finalised the requirements for Water Services - Information
Disclosures on 24th February 2026. This informs entities on what
they need to report on, starting from the 2026/27 financial year. The Finance
and 3 Waters teams are in the process of implementing changes to ensure
Information Disclosure requirements are met for the 2026/27 financial year and
beyond.
OPTIONS
26 This is a
noting report so there are no options.
Signatories
|
Author:
|
Hayley Knight - Assurance Manager
Janet Fraser - Corporate Planner
|
|
Authoriser:
|
Carolyn Allan - Chief Financial Officer
|
Attachments
There are no attachments for this report.
|
SUMMARY OF CONSIDERATIONS
|
|
Fit with purpose of Local Government
This report provides an update on various
audit, risk and assurance related matters.
|
|
Fit with strategic framework
|
|
Contributes
|
Detracts
|
Not applicable
|
|
Social Wellbeing Strategy
|
✔
|
☐
|
☐
|
|
Economic Development Strategy
|
✔
|
☐
|
☐
|
|
Environment Strategy
|
✔
|
☐
|
☐
|
|
Arts and Culture Strategy
|
✔
|
☐
|
☐
|
|
3 Waters Strategy
|
✔
|
☐
|
☐
|
|
Future Development Strategy
|
✔
|
☐
|
☐
|
|
Integrated Transport Strategy
|
✔
|
☐
|
☐
|
|
Parks and Recreation Strategy
|
✔
|
☐
|
☐
|
|
Other strategic projects/policies/plans
|
☐
|
☐
|
✔
|
This report provides an update on the progress made by
Council to deliver upon the activities identified by the Audit, Risk and
Assurance Committee, which is a regulatory function and considered good
quality and cost effective
|
|
Māori Impact Statement
There are no known impacts for mana whenua
|
|
Sustainability
There are no implications for sustainability
|
|
Zero carbon
There
are no implications for zero carbon
|
|
LTP/Annual Plan / Financial Strategy /Infrastructure
Strategy
There are no implications
|
|
Financial considerations
No financial implications have been identified
|
|
Significance
This report is rated low under the Council’s
Significance and Engagement Policy
|
|
Engagement – external
No external engagement has been undertaken
|
|
Engagement - internal
Activities noted herein include cross Council engagement
and collaboration
|
|
Risks: Legal / Health and Safety etc.
No risks have been identified
|
|
Conflict of Interest
There are no conflict of interest identified
|
|
Community Boards
There have been no implications for Community Boards
identified
|
|
|
Audit, Risk and Assurance Committee
27 March 2026
|
Health, Safety and Wellbeing Monthly report for January
2026
Department: Health and Safety
EXECUTIVE SUMMARY
1 The
monthly Health, Safety and Wellbeing report for January 2026 is attached for
consideration.
RECOMMENDATIONS
That the Committee:
a) Notes the monthly
Health, Safety and Wellbeing report for January 2026.
Signatories
|
Author:
|
Jane Pearce - Health and Safety Manager
|
|
Authoriser:
|
David Ward - General Manager, 3 Waters, Property and Urban
Development
|
Attachments
|
|
Title
|
Page
|
|
a
|
Health, Safety and
Wellbeing Reporting for 1 January to 31 January 2026
|
31
|
|
|
Audit, Risk and Assurance Committee
27 March 2026
|
|
|
Audit, Risk and Assurance Committee
27 March 2026
|
Financial Report - Period ended 31 January 2026
Department: Finance
EXECUTIVE SUMMARY
1 This
report provides the financial results for the period ended 31 January 2026 and
the financial position as at that date. This report was presented to the
Finance and Performance Committee on 19 March 2026.
2 As
this is an administrative report only, there are no options or Summary of
Considerations.
RECOMMENDATIONS
That the Committee:
a) Notes the Financial
Performance for the period ended 31 January 2026 and the Financial Position as
at that date.
BACKGROUND
3 This
report attaches a financial update and financial statements for the period
ended 31 January 2026.
DISCUSSION
4 The
net deficit (including Waipori) for the period ended 31 January 2026 was $5.301 million,
an $9.356 million favourable variance to budget. A detailed commentary is provided in Attachment A (Financial Update). In summary, the
following variances were recorded:
a) Revenue
was $254.301 million for the period, or $4.419 million unfavourable to budget.
b) Expenditure
was $263.920 million for the period, or $12.393 million favourable to budget.
c) The
Waipori Fund has reported a net operating surplus for the period of $4.318
million, $1.382 million favourable to budget.
5 Capital
expenditure was $81.074 million for the period ended 31 January 2026 or 70.4%
of the year-to-date budget.
6 The
total loan balance at 31 January 2026 was $687.272 million which was $66.901 million
less than budget.
NEXT STEPS
7 Month
end financial reports will continue to be presented to future Council or
Finance and Performance Committee meetings.
Signatories
|
Author:
|
Lawrie Warwood - Management Accountant
|
|
Authoriser:
|
Carolyn Allan - Chief Financial Officer
|
Attachments
|
|
Title
|
Page
|
|
⇩a
|
Financial Update
|
52
|
|
⇩b
|
Statement of Financial
Performance
|
66
|
|
⇩c
|
Statement of Financial
Position
|
67
|
|
⇩d
|
Statement of Cashflows
|
68
|
|
⇩e
|
Capital Expenditure
Summary
|
69
|
|
⇩f
|
Capital Expenditure
Detailed
|
71
|
|
⇩g
|
Operating Variances
|
77
|
|
⇩h
|
Debt Graph
|
78
|
|
|
Audit, Risk and Assurance Committee
27 March 2026
|
|
|
Audit, Risk and Assurance Committee
27 March 2026
|
|
|
Audit, Risk and Assurance Committee
27 March 2026
|
|
|
Audit, Risk and Assurance Committee
27 March 2026
|
|
|
Audit, Risk and Assurance Committee
27 March 2026
|
|
|
Audit, Risk and Assurance Committee
27 March 2026
|
|
|
Audit, Risk and Assurance Committee
27 March 2026
|
|
|
Audit, Risk and Assurance Committee
27 March 2026
|
|
|
Audit, Risk and Assurance Committee
27 March 2026
|
Waipori Fund - Quarter ending 31 December 2025
Department: Finance
EXECUTIVE SUMMARY
1 The
attached report from Dunedin City Treasury Limited provides information on the
results of the Waipori Fund for the quarter ended 31 December 2025. This report was presented to the Council meeting held on 12
February 2026.
RECOMMENDATIONS
That the Committee:
a) Notes the report from
Dunedin City Treasury Limited on the Waipori Fund for the quarter ended 31
December 2025.
DISCUSSION
2 The
Waipori Fund Statement of Investment Policy and Objectives (SIPO) requires
quarterly reporting on the performance and financial position of the fund.
3 Dunedin
City Treasury Limited has provided the Waipori Fund report for the December
2025 quarter. The report is provided as Attachment A.
SIPO Review
4 The
Letter of Expectation to the Dunedin City Holdings Ltd (DCHL) Board for the
2026/27 financial year, approved at the 11 December
2025 Council meeting, included the following request:
“Review the Waipori
Fund Statement of Investment Policies and Objectives (SIPO), and present
options to Council for consideration, with different risk appetites along with
expected returns, with a view to maximising return on investment.”
OPTIONS
5 As
this is a noting report, no options are provided.
NEXT STEPS
6 Quarterly
reporting on the performance and financial position of the fund will be
provided to future Council meetings.
7 Council
will be updated on the timing of the SIPO review once this is known.
Signatories
|
Authoriser:
|
Carolyn Allan - Chief Financial Officer
|
Attachments
|
|
Title
|
Page
|
|
⇩a
|
Waipori Fund Report -
December 2025 quarter
|
81
|
|
|
Audit, Risk and Assurance Committee
27 March 2026
|
|
|
Audit, Risk and Assurance Committee
27 March 2026
|
Financial Strategy Compliance
Department: Finance
EXECUTIVE SUMMARY
1 The
attached reports provides a summary of rate and debt limits, including group
debt limits. The purpose of the report is to monitor compliance against
these limits.
2 As
this is an administrative report only, the Summary of Considerations is not
required.
RECOMMENDATIONS
That the Committee:
a) Notes the Financial
Strategy Compliance report.
BACKGROUND
3 The
report provided in Attachment A shows compliance with Financial Strategy limits
and group debt limits. It summarises rates and debt limits as well as forecast
rates and debt levels for the period of the 9 year plan. Actual financial
information for the year ended 30 June 2025 is provided.
4 The
report uses financial forecasts from the 9 year plan, the Dunedin City Treasury
Limited Statement of Intent for the year ending 30 June 2026 and Dunedin City
Holdings Limited projections as at 30 June 2025.
5 Attachment
B provides supplementary comparison of Financial Strategy limits between the
2026/27 draft Annual Plan budget and the 2026/27 budget included in the 9 year
plan.
NEXT STEPS
6 Financial
Strategy Compliance Reports will be provided quarterly to the Audit, Risk and
Assurance Committee.
7 The
June report will forecast Financial Strategy limits for the current year based
on DCC & DCHL projections.
Signatories
|
Author:
|
Tony Nelmes - Project Accountant
|
|
Authoriser:
|
Carolyn Allan - Chief Financial Officer
|
Attachments
|
|
Title
|
Page
|
|
⇩a
|
Financial Strategy
Compliance
|
88
|
|
⇩b
|
Financial Strategy
Limits – 2026-27 Draft Annual Plan
|
96
|
|
|
Audit, Risk and Assurance Committee
27 March 2026
|
|
|
Audit, Risk and Assurance Committee
27 March 2026
|
|
|
Audit, Risk and Assurance
Committee
27 March 2026
|
Resolution to Exclude the
Public
That the Audit, Risk and
Assurance Committee:
Pursuant to the provisions of the
Local Government Official Information and Meetings Act 1987, exclude the public
from the following part of the proceedings of this meeting namely:
|
General subject of the matter to be considered
|
Reasons
for passing this resolution in relation to each matter
|
Ground(s) under
section 48(1) for the passing of this resolution
|
Reason for
Confidentiality
|
|
C1
Confirmation of the Confidential Minutes of Audit, Risk and Assurance
Committee meeting - 4 December 2025 - Public Excluded
|
S7(2)(h)
The
withholding of the information is necessary to enable the local authority to
carry out, without prejudice or disadvantage, commercial activities.
S7(2)(b)(ii)
The
withholding of the information is necessary to protect information where the
making available of the information would be likely unreasonably to prejudice
the commercial position of the person who supplied or who is the subject of
the information.
S7(2)(c)(i)
The
withholding of the information is necessary to protect information which is
subject to an obligation of confidence or which any person has been or could
be compelled to provide under the authority of any enactment, where the
making available of the information would be likely to prejudice the supply
of similar information or information from the same source and it is in the
public interest that such information should continue to be supplied.
S7(2)(b)(i)
The
withholding of the information is necessary to protect information where the
making available of the information would disclose a trade secret.
S7(2)(a)
The
withholding of the information is necessary to protect the privacy of natural
persons, including that of a deceased person.
|
.
|
|
|
C2
Audit Arrangements for the year ending 30 June 2026
|
S7(2)(i)
The
withholding of the information is necessary to enable the local authority to
carry on, without prejudice or disadvantage, negotiations (including
commercial and industrial negotiations).
|
S48(1)(a)
The public conduct of
the part of the meeting would be likely to result in the disclosure of
information for which good reason for withholding exists under section 7.
|
|
|
C3
Treasury Risk Management Compliance Report
|
S7(2)(h)
The
withholding of the information is necessary to enable the local authority to
carry out, without prejudice or disadvantage, commercial activities.
|
S48(1)(a)
The public conduct of
the part of the meeting would be likely to result in the disclosure of
information for which good reason for withholding exists under section 7.
|
|
|
C4
Dunedin City Holdings Ltd - Update on Audit and Risk Activity
|
S7(2)(b)(ii)
The
withholding of the information is necessary to protect information where the
making available of the information would be likely unreasonably to prejudice
the commercial position of the person who supplied or who is the subject of
the information.
|
S48(1)(a)
The public conduct of
the part of the meeting would be likely to result in the disclosure of
information for which good reason for withholding exists under section 7.
|
|
|
C5
Internal Audit: Workplan Update
|
S7(2)(b)(i)
The
withholding of the information is necessary to protect information where the
making available of the information would disclose a trade secret.
S7(2)(c)(i)
The
withholding of the information is necessary to protect information which is
subject to an obligation of confidence or which any person has been or could
be compelled to provide under the authority of any enactment, where the
making available of the information would be likely to prejudice the supply
of similar information or information from the same source and it is in the
public interest that such information should continue to be supplied.
S7(2)(h)
The
withholding of the information is necessary to enable the local authority to
carry out, without prejudice or disadvantage, commercial activities.
|
S48(1)(a)
The public conduct of
the part of the meeting would be likely to result in the disclosure of
information for which good reason for withholding exists under section 7.
|
|
|
C6
Internal Audit Services Contract - Recommendation Report
|
S7(2)(b)(ii)
The
withholding of the information is necessary to protect information where the
making available of the information would be likely unreasonably to prejudice
the commercial position of the person who supplied or who is the subject of
the information.
|
S48(1)(a)
The public conduct of
the part of the meeting would be likely to result in the disclosure of
information for which good reason for withholding exists under section 7.
|
|
|
C7
Internal Audit: Recommendations and Actions Update
|
S7(2)(c)(i)
The
withholding of the information is necessary to protect information which is
subject to an obligation of confidence or which any person has been or could
be compelled to provide under the authority of any enactment, where the
making available of the information would be likely to prejudice the supply
of similar information or information from the same source and it is in the
public interest that such information should continue to be supplied.
|
S48(1)(a)
The public conduct of
the part of the meeting would be likely to result in the disclosure of
information for which good reason for withholding exists under section 7.
|
|
|
C8
Risk Assurance: Financial Management
|
S7(2)(h)
The
withholding of the information is necessary to enable the local authority to
carry out, without prejudice or disadvantage, commercial activities.
|
S48(1)(a)
The public conduct of
the part of the meeting would be likely to result in the disclosure of
information for which good reason for withholding exists under section 7.
|
The information in this
report is commercially sensitive..
|
|
C9
Risk Assurance: Integrity
|
S7(2)(a)
The
withholding of the information is necessary to protect the privacy of natural
persons, including that of a deceased person.
|
S48(1)(a)
The public conduct of
the part of the meeting would be likely to result in the disclosure of
information for which good reason for withholding exists under section 7.
|
The information in this
report is commercially sensitive.
|
|
C10
Risk Assurance: Cybersecurity
|
S7(2)(h)
The
withholding of the information is necessary to enable the local authority to
carry out, without prejudice or disadvantage, commercial activities.
|
S48(1)(a)
The public conduct of
the part of the meeting would be likely to result in the disclosure of
information for which good reason for withholding exists under section 7.
|
|
|
C11
Risk Management Update
|
S7(2)(h)
The
withholding of the information is necessary to enable the local authority to
carry out, without prejudice or disadvantage, commercial activities.
|
S48(1)(a)
The public conduct of
the part of the meeting would be likely to result in the disclosure of
information for which good reason for withholding exists under section 7.
|
|
|
C12
Government Reforms Update - March 2026
|
S7(2)(h)
The
withholding of the information is necessary to enable the local authority to
carry out, without prejudice or disadvantage, commercial activities.
|
S48(1)(a)
The public conduct of
the part of the meeting would be likely to result in the disclosure of
information for which good reason for withholding exists under section 7.
|
|
|
C13
Legal Compliance Survey 2024/25 - Corrective Actions Progress
|
S7(2)(c)(i)
The
withholding of the information is necessary to protect information which is
subject to an obligation of confidence or which any person has been or could
be compelled to provide under the authority of any enactment, where the
making available of the information would be likely to prejudice the supply
of similar information or information from the same source and it is in the
public interest that such information should continue to be supplied.
|
S48(1)(a)
The public conduct of
the part of the meeting would be likely to result in the disclosure of
information for which good reason for withholding exists under section 7.
|
|
|
C14
Legal Matters
|
S7(2)(g)
The
withholding of the information is necessary to maintain legal professional
privilege.
|
S48(1)(a)
The public conduct of
the part of the meeting would be likely to result in the disclosure of
information for which good reason for withholding exists under section 7.
|
|
|
C15
Investigation Register - March 2026
|
S7(2)(a)
The
withholding of the information is necessary to protect the privacy of natural
persons, including that of a deceased person.
S7(2)(c)(i)
The
withholding of the information is necessary to protect information which is
subject to an obligation of confidence or which any person has been or could
be compelled to provide under the authority of any enactment, where the
making available of the information would be likely to prejudice the supply
of similar information or information from the same source and it is in the
public interest that such information should continue to be supplied.
|
S48(1)(a)
The public conduct of
the part of the meeting would be likely to result in the disclosure of
information for which good reason for withholding exists under section 7.
|
|
This resolution is made in
reliance on Section 48(1)(a) of the Local Government Official Information and
Meetings Act 1987, and the particular interest or interests protected by
Section 6 or Section 7 of that Act, or Section 6 or Section 7 or Section 9 of
the Official Information Act 1982, as the case may require, which would be
prejudiced by the holding of the whole or the relevant part of the proceedings
of the meeting in public are as shown above after each item.
