Notice of Meeting:
I hereby give notice that an ordinary meeting of the Audit
and Risk Subcommittee will be held on:
Date: Monday
16 June 2025
Time: 11.30
am
Venue: Council
Chamber, Dunedin Public Art Gallery, The Octagon, Dunedin
Sandy Graham
Audit and Risk Subcommittee
PUBLIC AGENDA
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Chairperson
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Mr Warren Allen
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Deputy Chairperson
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Ms Janet Copeland
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Members
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Cr Christine Garey
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Cr Cherry Lucas
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Mayor Jules Radich
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Cr Lee Vandervis
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Senior Officer Carolyn
Allan, Chief Financial Officer
Governance Support Officer Wendy
Collard
Wendy Collard
Governance Support Officer
Telephone: 03 477 4000
Wendy.Collard@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 and Risk Subcommittee
16 June 2025
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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 and Risk
Subcommittee meeting - 10 March 2025 10
Part
A Reports (Committee has power to decide these matters)
5 Audit
and Risk Subcommittee Work Plan 2025 22
6 Audit
and Risk Subcommittee Updates Report - June 2025 26
7 Financial
Report - Period ended 30 April 2025 33
8 Waipori
Fund - Quarter Ending 31 March 2025 63
9 Health,
Safety and Wellbeing monthly report for April 2025 70
Resolution to Exclude the Public 91
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Audit and Risk Subcommittee
16 June 2025
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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 and Risk Subcommittee
16 June 2025
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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 or independent 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
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6
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Audit and Risk Subcommittee
16 June 2025
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Audit and Risk Subcommittee
16 June 2025
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Confirmation
of Minutes
Audit
and Risk Subcommittee meeting - 10 March 2025
RECOMMENDATIONS
That the Subcommittee:
a) Confirms the public
part of the minutes of the Audit and Risk Subcommittee meeting held on 10 March
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 and
Risk Subcommittee meeting held on 10 March 2025
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11
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Audit and Risk
Subcommittee
16 June 2025
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Audit and Risk Subcommittee
MINUTES
Minutes of an ordinary
meeting of the Audit and Risk Subcommittee held in the Council Chamber, Dunedin
Public Art Gallery, The Octagon, Dunedin on Monday 10 March 2025, commencing at
12.30 pm
PRESENT
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Chairperson
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Mr Warren Allen
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Members
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Cr Christine Garey
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Cr Cherry Lucas
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Mayor Jules Radich
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Cr Lee Vandervis
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IN ATTENDANCE
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Sandy Graham (Chief Executive
Officer), Carolyn Allan (Chief Financial Officer), Hayley Knight (Assurance
Manager), Richard Davey (Treasurer, Dunedin City Holdings Limited), Crs
Sophie Barker and Carmen Houlahan
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Governance Support Officer Wendy
Collard
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1 Apologies
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Apologies were received from Janet Copeland (for absence)
and Mayor Jules Radich (for lateness)
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Moved (Warren Allen/Cr Cherry Lucas):
That the Subcommittee:
Accepts the apology from
Ms Janet Copeland(for absence) and Mayor Jules Radich for lateness
Motion
carried (AR/2025/001)
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2 Confirmation
of agenda
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Moved (Warren Allen/Cr Cherry Lucas):
That the Subcommittee:
Confirms the agenda
without addition or alteration
Motion
carried (AR/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.
Warren Allen provided an update to
his register of interest.
Sandy Graham provided an update to
her register of interest.
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Moved (Warren Allen/Cr Cherry Lucas):
That the Subcommittee:
a) Amends the Elected or Independent Members' Interest
Register attached; and
b) Confirms the proposed management plan for
Elected or Independent Members' Interests.
Motion
carried (AR/2025/003)
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4 Confirmation
of Minutes
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4.1 Audit
and Risk Subcommittee meeting - 4 December 2024
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Moved (Warren Allen/Cr Lee Vandervis):
That the Subcommittee:
a) Confirms the public part of the minutes of the
Audit and Risk Subcommittee meeting held on 04 December 2024 as a correct
record.
Motion
carried (AR/2025/004)
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Part
A Reports
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5 Audit
and Risk Subcommittee Work Plan 2025
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A report from Civic provided
a copy of the Audit and Risk Subcommittee Work Plan 2025 which has been
aligned with work programme scheduling and decision making.
The Chief Executive Officer
(Sandy Graham), 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 Cherry Lucas):
That the Subcommittee:
a) Notes the Audit and Risk Subcommittee Work Plan for 2025
Motion
carried (AR/2025/005)
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6 Audit
and Risk Subcommittee Updates Report
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A report from Finance
provided updates on the progress of various sundry matters that had been
noted by the Subcommittee.
The Chief Executive Officer
(Sandy Graham), 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 Cherry Lucas):
That the Subcommittee:
a) Notes the Audit and Risk Subcommittee Updates Report
b) Notes the OAG
Report: Observations from 2024-34 long term plans
c) Notes the WEF
Global Risks Report 2025: Key Findings
Motion
carried (AR/2025/006)
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Mayor Radich entered the meeting at 12.56 pm.
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7 Health
and Safety Monthly Reporting for December 2024 and January 2025
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A report from Health and
Safety provided the monthly Health, Safety and Wellbeing report for December
2024 and January 2025 for the Subcommittee’s information.
The Chief Executive Officer (Sandy Graham) provided an
update to a recent event and responded to questions.
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Moved (Warren Allen/Cr Cherry Lucas):
That the Subcommittee:
a) Notes the monthly Health, Safety and Wellbeing report for
December 2024 and January 2025.
Motion
carried (AR/2025/007)
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8 Financial
Report - Period ended 31 December 2024
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A report from Finance
provided the financial results for the period ended 31 December 2024 and the
financial position as at that date. It noted that the report had been
presented to the Council meeting held on 26 February 2025.
The Chief Financial Officer (Carolyn Allan) responded to
questions.
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Moved (Warren Allen/Cr Lee Vandervis):
That the Subcommittee:
a) Notes the Financial Performance for the period ended 31
December 2024 and the Financial Position as at that date.
Motion
carried (AR/2025/008)
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9 Waipori
Fund - Quarter ending 31 December 2024
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A report from Dunedin City
Treasury Limited provided information on the results of the Waipori Fund for
the quarter ended 31 December 2024.
The Treasurer, Dunedin City Holdings Limited (Richard
Davey) spoke to the report and responded to questions.
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Moved (Warren Allen/Cr Cherry Lucas):
That the Subcommittee:
a) Notes the report from Dunedin City Treasury Limited on the
Waipori Fund for the quarter ended 31 December 2024.
Motion
carried (AR/2025/009)
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Resolution to Exclude the Public
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Moved (Mr Warren Allen/Cr Christine Garey):
That the Subcommittee:
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
Audit and Risk Subcommittee meeting - 4 December 2024 - Public Excluded
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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.
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)(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).
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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.
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C2
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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C3
Report to the Council on the Audit of Dunedin City Council for the year end
30 June 2024
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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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C4
9 Year Plan Audit - 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.
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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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C5
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.
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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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C6
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.
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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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C7
DCC Internal Audit 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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C8
DCC Risk 'Deep Dive' - Fraud Risk Management
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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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C9
Gifts and Hospitality Register
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S7(2)(a)
The withholding of
the information is necessary to protect the privacy of natural persons,
including that of a deceased person.
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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
Chairperson's Report
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S7(2)(a)
The withholding of
the information is necessary to protect the privacy of natural persons,
including that of a deceased person.
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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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C11
Legal Matters
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S7(2)(g)
The withholding of
the information is necessary to maintain legal professional privilege.
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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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C12
Protected Disclosure Register - February 2025
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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.
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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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C13
Investigation Register - February 2025
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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.
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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.
Motion
carried (AR/2025/010)
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The meeting moved into non-public at 1.19 pm and concluded
at 3.33 pm.
..............................................
CHAIRPERSON
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Audit and Risk Subcommittee
16 June 2025
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Part
A Reports
Audit and Risk Subcommittee Work Plan 2025
Department: Civic
EXECUTIVE SUMMARY
1 This
report provides a copy of the Audit and Risk Subcommittee Work Plan 2025 which
has been aligned with work programme scheduling and decision making.
2 Is
should be noted that the items without ticks shown have not been scheduled for
action. A Deep Dive work programme will be developed after the Corporate Risk
Register has been reviewed. Deep dive topics will reflect high or emerging
risks.
3 As
this is an administrative report only, the Summary of Consideration is not
required.
RECOMMENDATIONS
That the Subcommittee:
a) Notes the Audit and
Risk Subcommittee Work Plan for 2025
Signatories
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Author:
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Wendy Collard - Governance Support Officer
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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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Audit and Risk
Subcommittee Work Plan
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23
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Audit and Risk Subcommittee
16 June 2025
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Audit and Risk Subcommittee
16 June 2025
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Audit and Risk Subcommittee Updates Report - June 2025
Department: Finance
EXECUTIVE SUMMARY
1 This
report provides updates on the progress of various sundry matters that have
been noted by the Subcommittee.
RECOMMENDATIONS
That the Subcommittee:
a) Notes the Audit and
Risk Subcommittee Updates Report – June 2025
DISCUSSION
Insurance
2 The
main insurance renewal is due 30 June 2025 and incorporates the following
policies:
· Material
Damage Above Ground
· Business
Interruption Above Ground
· Material
Damage Below Ground Infrastructure
· Annual
Contract Works
· Fine
Arts
· Civil
Engineering – Taieri River Water Supply Viaduct Bridge
· Motor
Vehicle
· Liability
Policies – Internet, Crime, Directors, and Officers
· Travel
and Personal Accident
9-Year Plan
3 Following
the audit process, the 9-year plan consultation document was approved by
Council on 26 March 2025.
4 The
community engagement period was from 31 March to 30 April 2025, with
consultation on Local Water Done Well running concurrently. Council received
801 submissions (both online and as hard copies), social media comments, and
feedback through community engagement events and activities.
5 Joint
hearings for the 9-year plan and Local Water Done Well were held from 5 to 8
May 2025, where members of the community spoke directly to councillors on their
submission.
6 Council
considered community feedback received at its deliberations meeting on Monday
26 May to Thursday 29 May 2025. Final decisions are being reflected in the
final 9-year plan document.
7 Audit
of the 9-year plan by Audit NZ started on 9 June and is expected to finish by
30 June 2025.
8 Following
the audit process, Council will adopt the plan on 30 June 2025
Elections Update
9 Elections
will be held for the position of Mayor, 14 councillors and 36 community board
members in October 2025. Elections will also be held for members of the
Otago Regional Authority and the Oamaru Licencing Trust.
10 Nominations
open on 4th July and close at 12 noon on Friday 1st August 2025. Voting
commences on Friday 9th September and closes on Saturday 11th October at 12
noon.
11 A contract
with the Council’s election provider electionz.com has been signed.
A combined Memorandum of Understanding between the Otago territorial
authorities and the Otago Regional Council has also been signed. The
Council’s Electoral Officer is Anthony Morton from electionz.com.
The Council’s Deputy Electoral Officer is Robyn Dillon.
12 A project
plan is in place to manage the election process, and development of the
pre-election report is underway.
Interregnum Period Delegations
13 A
report will be going to Council in September seeking approval for delegations
during the interregnum period. The interregnum period is the period between the
discharge of the Council and the swearing in of the new Council. Part of the
report will cover:
a) Warren
Allen, as Chair of the Audit and Risk Committee, acts as an alternate officer
in respect of the Fraud Awareness and Prevention Policy, and the Protected
Disclosure Whistleblower Policy. It is proposed that he be delegated
authority to continue in these roles for any matters that may arise during this
period. Note is made that the Audit and Risk Subcommittee will be
reconstituted at the inaugural meeting of Council.
Local Water Done Well
14 The
Government is now in the final stage of their three-stage process implementing
its “Local Water Done Well” (LWDW) reform programme.
15 The first
stage of LWDW saw the repeal of legislation relating to large water services
entities. This was in February 2024.
16 The second
stage of LWDW was implemented with the passing of the Local Government (Water
Services Preliminary Arrangements) Act 2024 (Preliminary Act) on 2 September
2024. As a result, Council is required to prepare and submit a WSDP to the
Secretary for Local Government by 3 September 2025.
17 The third
stage of LWDW is now underway with the introduction of the Local Government
(Water Services) Bill (the December Bill) on 10 December 2024. The December
Bill provides the enduring settings for LWDW including the framework for
economic regulation as well as the more detailed powers and duties for service
delivery models. Council has made a submission on the Bill. The Select
Committee is due to report back on the December Bill on 4 July 2025 and it is
expected to be enacted mid-2025. The Bill provides for:
a) Structural
arrangements for water service delivery including establishment, ownership, and
governance of water organisations.
b) Operational
matters such as arrangements for charging, bylaws, and management of stormwater
networks.
c) Planning,
reporting, and financial management.
d) A
new economic regulation and consumer protection regime.
e) Changes
to the water quality regulatory framework and the water services regulator.
18 Guidance on
the future water services delivery system was released by the DIA on 8 August
2024, and further on the WSDP on 3 September 2024. The Guidance was
subsequently updated in December 2024.
19 At the
Council meeting on 26 February 2025, Council considered a report “Local
Water Done Well – Decision on Water Models for Consultation”. The
Council decided, for the purposes of consultation, on the in-house delivery
option as the preferred option for DCC’s future water services delivery
model, and the single CCO (asset owning) option as an alternative option.
20 Following
consultation on the Water Consultation Options, Council at its meeting on 26
May 2025 approved the in-house delivery option as the water services delivery
model and that this decision would be reflected in the 9-year plan 2025-34.
21 Council
will adopt its 9-year plan on 30 June 2025, and will submit its WSDP to the
Secretary for Local Government by 3 September 2025.
22 At the
Council meeting on 26 February 2025, Council also considered a report on
“Memorandum of Understanding with Christchurch City Council –
Potential for Shared Services”. This report provided Council with
information regarding a proposed process with Christchurch City Council (CCC)
to investigate whether there are opportunities for certain shared water
services (Shared Services) between the DCC and CCC.
23 The aim of
Shared Services would be to reduce costs and enhance water services for each
council’s communities. This aligns with the objectives of the LWDW
reforms. Staff intend updating Council on Shared Services in a separate report
in June 2025.
24 Shared
Services would not affect the underlying ownership of each council’s
existing water assets as the services would be managed through contracts.
Financial Strategy Report
25 As
requested by the Audit and Risk Subcommittee (ARS), Finance are developing a
regular update report on the Financial Strategy similar to that of the
‘Treasury Risk Management Compliance Report’. This report will
include financial strategy limits, and updates on relevant metrics.
26 The aim
will be to have the first high level version of this report to ARS at the
September 2025 meeting and have this as a regular quarterly report.
Climate Mitigation and Adaptation
Report
27 As
requested by the ARS, Zero Carbon and South Dunedin Futures are developing a
regular update report on climate change mitigation and adaptation. This report
will cover the risks, controls, and planned improvement actions.
28 The aim
will be to have the first high level version of this report to ARS at the
September 2025 meeting and have this as a regular 6-monthly report.
Policy Updates
29 There are
no updated policies presented at this meeting. The following policies are
undergoing review:
a) Asset
Disposal and Write-Off Policy
b) ICT
Acceptable Use Policy
c) Information
Management Policy
d) Purchase
Card Policy
e) Staff Code
of Conduct
f) Sensitive
Expenditure Policy
30 After
the review process, updated copies of DCC policies will be provided to the
Subcommittee for either feedback or noting.
OPTIONS
31 This
is a noting report so there are no options.
Signatories
|
Author:
|
Hayley Knight - Assurance Manager
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|
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 and risk related matters.
|
|
Fit with strategic framework This report provides an update on the progress made
by Council to deliver upon the activities identified by the Audit and Risk
Subcommittee, which is a regulatory function and considered good quality and
cost effective
|
|
Contributes
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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 and Risk
Subcommittee, 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 known 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 and Risk Subcommittee
16 June 2025
|
Financial Report - Period ended 30 April 2025
Department: Finance
EXECUTIVE SUMMARY
1 This
report provides the financial results for the period ended 30 April 2025 and
the financial position as at that date. This report was presented
to the Finance and Council Controlled Committee meeting held on 11June 2025.
2 As
this is an administrative report only, there are no options or Summary of
Considerations.
Financial
Overview
For the period
ended 30 April 2025
RECOMMENDATIONS
That the Committee:
a) Notes the Financial
Performance for the period ended 30 April 2025 and the Financial Position as at
that date.
BACKGROUND
3 This
report provides the financial statements for the period ended 30 April 2025. It includes reports on financial performance, financial
position, cashflows and capital expenditure. Summary information is
provided in the body of this report with detailed results attached. The
operating result is also shown by group, including analysis by revenue and
expenditure type.
DISCUSSION
4 This report includes a high-level summary of the financial
information to 30 April 2025. Please refer to
Attachment I for the detailed financial update.
Statement of Financial Performance
5 Revenue
was $328.871 million for the period or $2.105 million less than budget.
6 Operating
revenue (external and internal combined) was unfavourable $1.333 million mainly
due to lower-than-expected revenue from the Parking Services, Aquatic Services,
Resource Consents and Building Services activities.
7 Grants
revenue was unfavourable $1.543 million reflecting funding decisions by NZTA
under the National Land Transport Programme, and a reduction in the
contractor work programme in specific areas to offset cost over runs in some
activities. NZTA subsidy revenue totalling $1.633 million
relating to the October rain event has been received, with a further $3.104
million approved which will be claimed as costs are incurred.
8 Expenditure
was $353.680 million for the period, or $17.222 million less than budget.
9 Personnel costs was unfavourable $528k, reflecting overtime payments
for 3 waters and union negotiated contract increases, which is being managed
with vacancy management. The month of April showed a favourable variance of
$61k, partly driven by changes in the annual leave provision.
10 Operations
and maintenance expenditure was favourable $4.260 million; however, this
favourable variance was offset by an unfavourable $1.099 million variance in
internal costs, largely due largely to landfill disposal costs for kerbside
collections now recorded as internal costs. Unfavourable Transport maintenance
costs are more than offset by under expenditure in other activities, including
Three Waters and Waste and Environmental Services. Transport costs included
emergency works totalling $1.974 million associated with the October 2024 rain
event.
11 Depreciation
costs were favourable $11.353 million, mainly due to the revaluation of Three
Waters assets, and to a lesser extent Property and Parks assets.
12 Interest
costs were favourable $3.956 million, reflecting a lower interest rate than
budgeted and lower debt.
13 Year to date the Waipori Fund has reported a net operating surplus
of $5.085 million, $1.396 million more than budget. Operating revenue was
favourable $1.404 million. However, International and New Zealand equities saw
a decrease in value of $1.186 million during April. Fixed term investments
values saw a small decrease in value for the month, however, still maintaining
favourable results for the year to date.
Statement of Financial Position
14 Capital
expenditure was $116.455 million or 66.6% of the year-to-date budget. Capital
expenditure in most activities was generally within budget for the period.
Capital expenditure is forecast to be $150 million as at 30 June.
15 The loans
balance at 30 April was $657.972 million which was $62.501 million less than
budget. This a reflection of the capital expenditure programme, which was
underspent by $58.333 million to April. Additional to the April
loans balance there was accrued interest of $2.030 million.
16 Attachment
B includes a chart showing actual group and DCC debt for the years ending June
2003-2024. It provides forecast information for the years ending June 2024-2027
based on the current Statements of Intent (SOI), and the first two years of the
draft 9-year plan.
OPTIONS
17 As this is an administrative report only, there are no options
provided.
NEXT STEPS
18 Financial
Result Reports continue be presented to future meetings of either the Finance
and Council Controlled Organisation Committee or Council.
Signatories
|
Author:
|
Lawrie Warwood - Financial Analyst
|
|
Authoriser:
|
Carolyn Allan - Chief Financial Officer
|
Attachments
|
|
Title
|
Page
|
|
⇩a
|
Dashboard Summary
Financial Information
|
36
|
|
⇩b
|
Debt Graph
|
37
|
|
⇩c
|
Statement of Financial
Performance
|
38
|
|
⇩d
|
Statement of Financial
Position
|
39
|
|
⇩e
|
Statement of Cashflows
|
40
|
|
⇩f
|
Capital Expenditure
Summary
|
41
|
|
⇩g
|
Capital Expenditure
Detailed Programme
|
42
|
|
⇩h
|
Operating Variances
|
49
|
|
⇩i
|
Detailed Financial
Update
|
50
|
|
|
Audit and Risk Subcommittee
16 June 2025
|
|
|
Audit and Risk Subcommittee
16 June 2025
|
|
|
Audit and Risk Subcommittee
16 June 2025
|
|
|
Audit and Risk Subcommittee
16 June 2025
|
|
|
Audit and Risk Subcommittee
16 June 2025
|
|
|
Audit and Risk Subcommittee
16 June 2025
|
|
|
Audit and Risk Subcommittee
16 June 2025
|
|
|
Audit and Risk Subcommittee
16 June 2025
|
|
|
Audit and Risk Subcommittee
16 June 2025
|
|
|
Audit and Risk Subcommittee
16 June 2025
|
Waipori Fund - Quarter Ending 31 March 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 March 2025. This
report was presented to the Finance and Council Controlled Committee meeting
held on 11June 2025.
RECOMMENDATIONS
That the Committee:
a) Notes the report from
Dunedin City Treasury Limited on the Waipori Fund for the quarter ended 31
March 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 March 2025
quarter. The report is provided as Attachment A.
OPTIONS
4 As
this is a noting report, no options are provided.
NEXT STEPS
5 Quarterly
reporting on the performance and financial position of the fund will be
provided to future meetings of either the Financial and Council Controlled
Organisations Committee or Council.
Signatories
|
Authoriser:
|
Carolyn Allan - Chief Financial Officer
|
Attachments
|
|
Title
|
Page
|
|
⇩a
|
Waipori Fund March 2025
Quarter
|
66
|
|
SUMMARY OF CONSIDERATIONS
|
|
Fit with purpose of Local Government
This decision enables democratic local
decision making and action by, and on behalf of, communities.
|
|
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
|
☐
|
☐
|
✔
|
Reporting on the performance of the Waipori Fund does not
contribute directly to the Strategic Framework.
|
|
Māori Impact Statement
Investment returns from the Waipori Fund impact on the
level of rates payable and therefore impact across all Dunedin communities
including Māori.
|
|
Sustainability
There are no impacts for sustainability.
|
|
Zero carbon
|
|
LTP/Annual Plan / Financial Strategy /Infrastructure
Strategy
There are no impacts for sustainability.
|
|
Financial considerations
Financial considerations are presented in the Waipori Fund
report for the March 2025 quarter.
|
|
Significance
This report is considered to be of low significance in
terms of the Council’s Significance and Engagement Policy.
|
|
Engagement – external
There has been no external engagement.
|
|
Engagement - internal
There has been no internal engagement.
|
|
Risks: Legal / Health and Safety etc.
There are no identified risks.
|
|
Conflict of Interest
There are no known conflicts of interest.
|
|
Community Boards
There are no implications for Community Boards.
|
|
|
Audit and Risk Subcommittee
16 June 2025
|
|
|
Audit and Risk Subcommittee
16 June 2025
|
Health, Safety and Wellbeing monthly report for April 2025
Department: Health and Safety
EXECUTIVE SUMMARY
1 The
monthly Health, Safety and Wellbeing report for April 2025 is attached for
consideration.
RECOMMENDATIONS
That the Subcommittee:
a) Notes the monthly
Health, Safety and Wellbeing report for April 2025.
Signatories
|
Author:
|
Jane Pearce - Health and Safety Manager
|
|
Authoriser:
|
Robert West - General Manager Corporate Services
|
Attachments
|
|
Title
|
Page
|
|
⇩a
|
HSW report for April
2025
|
71
|
|
|
Audit and Risk Subcommittee
16 June 2025
|
|
|
Audit and Risk Subcommittee
16 June 2025
|
Resolution to Exclude the
Public
That the Audit and Risk
Subcommittee:
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 and Risk Subcommittee
meeting - 10 March 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)(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)(a)
The
withholding of the information is necessary to protect the privacy of natural
persons, including that of a deceased person.
S7(2)(g)
The
withholding of the information is necessary to maintain legal professional
privilege.
|
.
|
|
|
C2
Audit Arrangements for the year ending 30 June 2025
|
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
Long Term Plan Consultation Document Audit
|
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.
|
|
|
C4
DCC Risk 'Deep Dive' - Procurement and Contract Management
|
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.
|
|
|
C5
Improvement Opportunities
|
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.
|
|
|
C6
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.
|
|
|
C7
DCC External Audit Actions Update - June 2025
|
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
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.
|
|
|
C9
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.
|
|
|
C10
Protected Disclosure Register - June 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.
|
|
|
C11
Investigation Register - June 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.
That Rudie Tomlinson (Director,
Audit New Zealand) be permitted to attend the meeting, after the public has
been excluded, because of his knowledge of Items C2 and C3. This
knowledge, which would been of assistance in relation to the matters discussed,
was relevant because they would be reporting on the item under consideration.
