Notice of Meeting:
I hereby give notice that an ordinary meeting of the Finance
and Performance Committee will be held on:
Date: Thursday
19 March 2026
Time: 09.00
am
Venue: Council
Chamber, Level 2, Dunedin Public Art Gallery, The Octagon, Dunedin
Sandy Graham
Finance and Performance Committee
PUBLIC AGENDA
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Co-Chairperson
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Cr Cherry Lucas
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Cr Lee Vandervis
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Members
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Mayor Sophie Barker
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Mr Jeffrey Broughton
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Cr John Chambers
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Cr Christine Garey
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Cr Doug Hall
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Cr Marie Laufiso
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Cr Russell Lund
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Cr Mandy Mayhem
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Cr Benedict Ong
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Cr Andrew Simms
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Cr Mickey Treadwell
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Cr Steve Walker
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Cr Brent Weatherall
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Senior Officer Carolyn
Allan, Chief Financial Officer
Governance Support Officer Lauren
Riddle
Lauren Riddle
Governance Support Officer
Telephone: 03 477 4000
governance.support@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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Finance and Performance
Committee
19 March 2026
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ITEM TABLE OF CONTENTS PAGE
1 Public
Forum 4
2 Apologies 4
3 Confirmation
of Agenda 4
4 Declaration
of Interest 5
Part A Reports (Committee has power to decide
these matters)
5 Dunedin
City Holdings Limited Group Companies - Interim Reports for the Six Months
ended 31 December 2025 12
6 Draft
2026/27 Statements of Intent - Dunedin City Holdings Limited Group Companies 13
7 Levels
of Service 2025/26 Half Year Update 15
8 Financial
Report - Period ended 31 January 2026 54
9 Items
for Consideration by the Chair 82
Resolution to Exclude the Public 83
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Finance and Performance
Committee
19 March 2026
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1 Public
Forum
At the close of the agenda no
requests for public forum had been received.
2 Apologies
At the close of the agenda no
apologies had been received.
3 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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Finance and Performance Committee
19 March 2026
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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 elected representative and any private or other
external interest they might have.
2. Elected
members are reminded to update their register of interests as
soon as practicable, including amending the register at this meeting if
necessary.
3. Staff members are
reminded to update their register of interests as soon as practicable.
RECOMMENDATIONS
That the Committee:
a) Notes/Amends if
necessary the Elected Members' Interest Register attached as Attachment A; and
b) Confirms/Amends the
proposed management plan for Elected Members' Interests.
c) Notes the proposed
management plan for the Executive Leadership Team’s Interests.
Attachments
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Title
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Page
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⇩a
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Interest Register
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6
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Finance and Performance Committee
19 March 2026
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Finance and Performance Committee
19 March 2026
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Part
A Reports
Dunedin City Holdings Limited Group Companies - Interim
Reports for the Six Months ended 31 December 2025
Department: Finance
EXECUTIVE SUMMARY
1 Please
find attached the interim reports for the six months ended 31 December 2025 for
the Dunedin City Holdings Limited (DCHL) Group Companies, along with the DCHL
half year report to 31 December 2025.
RECOMMENDATIONS
That the Committee:
a) Notes the Dunedin City
Holdings Limited Group Companies Interim Reports for the six months ended 31
December 2025.
b) Notes the Dunedin City
Holdings Limited Group Half Years Report to 31 December 2025.
Signatories
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Authoriser:
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Carolyn Allan - Chief Financial Officer
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Attachments
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Title
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Page
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⇨a
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DCHL Quarterly Report
to 31 December 2025 (Under Separate Cover 1)
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⇨b
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DCHL Cover report to
Half Year reports to six months ended 31 December 2025 (Under Separate
Cover 1)
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⇨c
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DCHL Group Half Year
Report to 31 December 2025 (Under Separate Cover 1)
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⇨d
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Aurora Energy Ltd
Interim Report to 31 December 2025 (Under Separate Cover 1)
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⇨e
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City Forests Interim
Report to 31 December 2025 (Under Separate Cover 1)
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⇨f
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Dunedin City Treasury
Ltd (DCTL) interim report to 31 December 2025 (Under Separate Cover 1)
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⇨g
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Delta Interim Report to
31 December 2025 (Under Separate Cover 1)
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⇨h
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Dunedin Railways Ltd
interim report to 31 December 2025 (Under Separate Cover 1)
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⇨i
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Dunedin Stadium
Property Ltd (DSPL) interim report to 31 December 2025 (Under Separate
Cover 1)
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⇨j
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Dunedin Venues
Management Ltd (DVML) interim report to 31 December 2025 (Under Separate
Cover 1)
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⇨k
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Dunedin International
Airport (DIAL) interim report to 31 December 2025 (Under Separate Cover 1)
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Finance and Performance Committee
19 March 2026
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Draft 2026/27 Statements of Intent - Dunedin City Holdings
Limited Group Companies
Department: Civic
EXECUTIVE SUMMARY
1 This
report presents the draft 2026/27 Statements of Intent (draft Statements) for
the Dunedin City Holdings Group companies. A report from Dunedin City
Holdings Ltd (DCHL) that discusses the draft Statements is at Attachment A, a
summary of the changes is at Attachment B, and the draft Statements for each
company are presented at Attachment C – K.
2 The
report sets out the process for reviewing and providing feedback on the draft
Statements before final Statements of Intent are delivered to Council on or
before 30 June 2026.
RECOMMENDATIONS
That the Committee:
a) Notes the draft 2026/27
Statements of Intent for the Dunedin City Holdings Group companies.
BACKGROUND
3 Council
Controlled Organisations are required to deliver draft Statements to Council
each year.
4 The
draft Statements demonstrate accountability to the shareholder and the public
by outlining the company’s activities and intentions for the next three
financial years. The draft Statements provide the basis for the accountability
of the directors to their shareholder for the performance of their
organisation.
5 Draft
Statements have been prepared to reflect the Letter of Expectation from the
Dunedin City Council to Dunedin City Holdings Limited (DCHL), dated 15 December
2025.
DISCUSSION
6 A
report from DCHL is at Attachment A. It identifies key considerations
that are relevant when reviewing the draft Statements. A summary of the changes
from the final 2025/26 Statements to the draft 2026/27 Statements is at
Attachment B.
7 The
financial forecasts contained in the draft Statements are indicative only and
generally reflect the current Statements of Intent rolled forward. The
financial forecasts will be updated for inclusion in the final Statements in
June 2026.
8 As
a shareholder of DCHL, Council may provide comments on the draft Statements to
the Board of DCHL, who must consider the comments. DCHL will provide feedback
to subsidiary and/or associate companies as necessary.
9 Final
Statements of Intent must be delivered to shareholders on or before 30 June
2026. Statements of Intent will be made publicly available on the DCC
website within one month of adoption by Council.
OPTIONS
10 There are
no options.
NEXT STEPS
11 Elected
Members will be able to provide feedback via email. Emailed feedback will be
required by the Corporate Planner by Wednesday 1 April 2026. A workshop
will be held in April to discuss the feedback received.
12 The
feedback will be collated into a report to Council on 23 April 2026 for Council
to consider if it wishes to amend the Statements of Intent. Council’s
decisions at that meeting will then be provided to DCHL by the statutory
deadline of 1 May 2026.
13 Financial
forecasts will be updated prior to the completion of the final Statements of
Intent in June 2026.
Signatories
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Author:
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Janet Fraser - Corporate Planner
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Authoriser:
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Carolyn Allan - Chief Financial Officer
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Attachments
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Title
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Page
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⇨a
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DCHL Report on Draft
Statements of Intent (Under Separate Cover 1)
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⇨b
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DCHL Report on Draft
Statements of Intent - Appendix A (Summary of changes) (Under Separate
Cover 1)
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⇨c
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Aurora Energy Ltd -
draft SoI (Under Separate Cover 1)
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⇨d
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City Forests Ltd -
draft SoI (Under Separate Cover 1)
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⇨e
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Dunedin City Holdings
Ltd - draft SoI (Under Separate Cover 1)
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⇨f
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Dunedin City Treasury
Ltd - draft SoI (Under Separate Cover 1)
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⇨g
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Delta Utility Services
Ltd - draft SoI (Under Separate Cover 1)
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⇨h
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Dunedin Railways Ltd -
draft SoI (Under Separate Cover 1)
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⇨i
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Dunedin Stadium
Property Ltd - draft SoI (Under Separate Cover 1)
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⇨j
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Dunedin Venues
Management Ltd - draft SoI (Under Separate Cover 1)
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⇨k
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Dunedin International
Airport Ltd - draft SoI (Under Separate Cover 1)
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Finance and Performance Committee
19 March 2026
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Levels of Service 2025/26 Half Year Update
Department: Civic
EXECUTIVE SUMMARY
1 This
report provides results of Levels of Service (LOS) half-year reporting,
covering the period from 1 July to 31 December 2025.
2 The
results do not include performance results where measures are from the
Residents’ Opinion Survey (ROS), as those are already reported on each
quarter.
3 Of
the 137 non-ROS results, 13% have already been achieved for the 2025/26 year,
59% are on track to be achieved, 15% are at risk of not being achieved, 5% will
not be achieved, and 8% could not be reported on until the end of the financial
year.
4 A
visual overview of the results, as well as details of results for each group of
activity, is at Attachment A.
RECOMMENDATIONS
That the Committee:
a) Notes the results of
half-year Levels of Service reporting.
BACKGROUND
5 Prior
to the development of the 9 year plan 2025-34 (the 9 year plan),
Council’s LOS were predominantly made up of measures from the
Residents’ Opinion Survey (ROS).
6 The
ROS reports on residents’ satisfaction with services and facilities
provided by Council. Council receives a separate quarterly report on ROS
results.
7 LOS
were reviewed and updated as part of the development of the 9 year plan. New
measures were introduced and were designed to be meaningful and output‑focused. During this
process, Council also considered the role of ROS measures. Following
deliberation, a selection of ROS measures were retained within the Levels of Service
to ensure continuity of insight into residents’ views.
8 All
LOS results (including ROS) are reported as a whole once per year as part of
Council’s Annual Report.
9 The
9 year plan was adopted by Council on 30 June 2025. Since this time, new LOS
measures have not yet been reported on.
DISCUSSION
10 Half year
reporting on LOS aimed to uncover any reporting issues on new measures, to test
the usefulness of ongoing interim reporting for performance monitoring, and to
provide transparency for elected members.
11 There is
variability in how frequently different LOS measures can be reported on,
ranging from monthly to annually. Because of this, some measures do not have
half year results available.
Half year results
12 Eighteen
(13%) measures have already been achieved for the 2025/26 year. These measures
predominantly related to maintaining external accreditations and the provision
of various programmes.
13 Eighty-one
(59%) measures have not yet been achieved for 2025/26 but are on track to meet
performance targets by 30 June 2026.
14 Twenty
(15%) measures have not yet been achieved for 2025/26 and are not on track to
meet performance targets by 30 June 2026. Factors that contributed to lower
than expected performance include weather events, staff vacancies, policy
changes, upgrades and maintenance.
15 Seven (5%)
measures will not be achieved for 2026/26, as results from the first half of
the year mean that it is not possible to meet annual performance targets by 30
June 2026. These results generally relate to legislative requirements, where
the target is 100%. While no longer able to be achieved, most of these targets
were within 5% of the target. Exceptions to this are:
a) Percentage
of LGOIMA requests processed within the statutory timeframes:
81% of requests were met within
the timeframe, noting that this is a significant improvement on the 2024/25
result, with a new LGOIMA Officer position in place and strategies to further
improve timeframes in the second half of 2025/26.
b) Percentage
of scheduled food control plan verification visits conducted in accordance with
statutory timeframes:
93% of visits conducted within
the timeframe. Twenty scheduled food control plan verification visits were not
conducted in accordance with statutory timeframes.
c) Percentage
of resource consent applications processed within statutory timeframes:
61% of consents processed within
the timeframe, noting that there were significantly more applications received
following the adoption of a new Development Contributions Policy in June 2025.
16 Eleven (8%)
measures do not have half year results available and/or it is not possible to
predict whether or not the performance measure is likely to be achieved by 30
June 2026.
17 A visual
overview of the results, as well as details of results for each group of
activity, is at Attachment A. Note that ‘new measures’, which have
not been part of previous annual reporting, do not have graphs to accompany the
results.
OPTIONS
18 As this is
a report for noting, there are no options.
NEXT STEPS
19 A review of
the interim reporting process will be undertaken to assess its effectiveness
and determine whether ongoing interim reporting would be useful for performance
management and decision-making.
Signatories
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Author:
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Janet Fraser - Corporate Planner
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Authoriser:
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Paul Henderson - General Manager Corporate and Regulatory
Services
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Attachments
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Title
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Page
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⇩a
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Levels of Service
2025/26 half year report
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20
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SUMMARY OF CONSIDERATIONS
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Fit with purpose of Local Government
This decision promotes the social,
economic, environmental, and cultural well-being of communities in the present
and for the future.
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Fit with strategic framework
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Contributes
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Detracts
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Not applicable
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Social Wellbeing Strategy
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✔
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☐
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☐
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Economic Development Strategy
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✔
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☐
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☐
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Environment Strategy
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✔
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☐
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☐
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Arts and Culture Strategy
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✔
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☐
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☐
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3 Waters Strategy
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✔
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☐
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☐
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Future Development Strategy
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✔
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☐
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☐
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Integrated Transport Strategy
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✔
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☐
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☐
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Parks and Recreation Strategy
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✔
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☐
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☐
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Other strategic projects/policies/plans
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✔
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☐
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☐
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The Groups of Activity, to which the LOS relate,
contribute to the objectives and priorities of the above strategies.
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Māori Impact Statement
Levels of Service impact broadly across all Dunedin
communities, including Māori. The adoption of Te Taki Haruru –
Māori Strategic Framework signals Council’s commitment to mana
whenua and to its obligations under the Treaty of Waitangi, and some of
Council’s Levels of Service relate to Te Taki Haruru.
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Sustainability
Levels of Service indicate whether a measure contributes
to Council’s Zero Carbon goals, and so provides indication on how Level
of Service performance relates to sustainability.
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LTP/Annual Plan / Financial Strategy /Infrastructure
Strategy
Levels of Service will be reviewed as part of the
development of the 10 Year Plan 2027-37.
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Financial considerations
This report considers non-financial performance
measurements and targets.
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Significance
This report is considered to be of low significance under
Council’s Significance and Engagement Policy.
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Engagement – external
Current Levels of Service are part of the 9 Year Plan
2025-34, which was externally consulted on during its development.
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Engagement - internal
Staff across Council have been involved in compiling the
2025/26 half year performance results.
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Risks: Legal / Health and Safety etc.
There are no identified risks.
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Conflict of Interest
There are no known conflicts of interest.
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Community Boards
There are no implications for Community Boards.
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Finance and Performance Committee
19 March 2026
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Finance and Performance Committee
19 March 2026
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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.
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
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Author:
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Lawrie Warwood - Management Accountant
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Authoriser:
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Hayden McAuliffe - Financial Services Manager
Carolyn Allan - Chief Financial Officer
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Attachments
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Title
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Page
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⇩a
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Financial Update
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56
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⇩b
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Statement of Financial
Performance
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70
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⇩c
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Statement of Financial
Position
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71
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⇩d
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Statement of Cashflows
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72
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⇩e
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Capital Expenditure
Summary
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73
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⇩f
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Capital Expenditure
Detailed
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74
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⇩g
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Operating Variances
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80
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⇩h
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Debt Graph
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81
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Finance and Performance Committee
19 March 2026
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Finance and Performance Committee
19 March 2026
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Finance and Performance Committee
19 March 2026
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Finance and Performance Committee
19 March 2026
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Finance and Performance Committee
19 March 2026
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Finance and Performance Committee
19 March 2026
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Finance and Performance Committee
19 March 2026
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Finance and Performance Committee
19 March 2026
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Finance and Performance Committee
19 March 2026
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Items for Consideration by the Chair
Any items for
consideration by the Chair.
Attachments
There are no attachments for this report.
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Finance and Performance
Committee
19 March 2026
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Resolution to Exclude the
Public
That the Finance and
Performance 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
Investment Property Portfolio - Quarter ending 31 December 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.
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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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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.