Finance and Council Controlled Organisations Committee

MINUTES

 

Minutes of an ordinary meeting of the Finance and Council Controlled Organisations Committee held in the Council Chamber, Level 2, Dunedin Public Art Gallery, The Octagon, Dunedin on Wednesday 22 May 2024, commencing at 10:00am.

 

PRESENT

 

Chairperson

Cr Lee Vandervis

 

Deputy Chairperson

Cr Cherry Lucas

 

Members

Cr Bill Acklin

Cr Sophie Barker

 

Cr David Benson-Pope

Cr Christine Garey

 

Cr Kevin Gilbert

Cr Carmen Houlahan

 

Cr Marie Laufiso

Cr Mandy Mayhem

 

Cr Jim O'Malley

Mayor Jules Radich

 

Cr Steve Walker

Cr Brent Weatherall

 

Cr Andrew Whiley

 

 

IN ATTENDANCE

Sandy Graham (Chief Executive Officer); Carolyn Allan (Chief Financial Officer); Robert West (General Manager Corporate Services); Leanne Mash (Deputy CEO/General Manager Business and Community Engagement); Jeanette Wikaira (General Manager Arts, Culture and Recreation); Dave Ward (General Manager 3 Waters and Transition); Paul Henderson (Acting General Manager Customer and Regulatory); Nicola Morand (Manahautū, General Manager Policy and Partnerships); Anna Nilsen (Group Manager Property Services); Mr Richard Davey (Treasurer, Dunedin City Holdings Ltd); Mr Peter Hocking (General Manager, Dunedin City Holdings Limited); Cam McCracken (Director – DPAG, Toitū, Lan Yuan and Olveston); Heath Ellis (Group Manager Parks and Recreation); Karilyn Canton (Chief In-House Legal Counsel); Mr Tim Loan (Chairperson Dunedin City Holdings Ltd)

 

Governance Support Officer                  Lauren Riddle

 

 

 

1          Public Forum

There was no Public Forum.

 

2          Apologies

 

An apology was received from Cr Laufiso.

 

 

Moved (Cr Lee Vandervis/Cr Cherry Lucas):

That the Committee:

             Accepts the apology from Cr Laufiso for absence.

Motion carried (FCCO/2024/001)

 

3          Confirmation of agenda

 

Moved (Cr Lee Vandervis/Cr Cherry Lucas):

That the Committee:

 

Confirms the agenda without addition or alteration.

 

Motion carried

 

4          Declarations of interest

Members were reminded of the need to stand aside from decision-making when a conflict arose between their role as an elected representative and any private or other external interest they might have.

 

There were no updates to the Register of Interest advised.

 

 

Moved (Cr Lee Vandervis/Cr Cherry Lucas):

That the Committee:

 

a)         Notes the Elected Members' Interest Register; and

b)        Confirms the proposed management plan for Elected Members' Interests.

             Motion carried (FCCO/2024/002)

 

5          Confirmation of Minutes

5.1       Finance and Council Controlled Organisations Committee meeting - 15 August 2023

 

Moved (Cr Lee Vandervis/Cr Cherry Lucas):

That the Committee:

a)         Confirms the minutes of the Finance and Council Controlled Organisations Committee meeting held on 15 August 2023 as a correct record.

             Motion carried (FCCO/2024/003)

 

Cr Houlahan entered the meeting at 10:05 am.

Part A Reports

6          Finance and Council Controlled Organisations Committee - Forward Work Programme

 

Moved (Cr Lee Vandervis/Cr Cherry Lucas):

That the Committee:

 

a)         Notes the Finance and Council Controlled Organisations Committee forward work programme for May 2024.

             Motion carried (FCCO/2024/004)

 

7          Financial Report - Period ended 31 March 2024

 

The report from Finance provided the financial results for the period ended 31 March 2024.

 

The Chief Financial Officer (Carolyn Allan); General Manager Corporate Services (Robert West); General Manager 3 Waters and Transition (Dave Ward); Group Manager Property Services (Anna Nilsen); Group Manager Parks and Recreation (Heath Ellis) and Director DPAG, Toitū and Olveston (Cam McCracken) spoke to the report and responded to questions.

 

 

Moved (Cr Lee Vandervis/Cr Cherry Lucas):

That the Committee:

 

a)         Notes the Financial Performance for the period ended 31 March 2024 and the Financial Position as at that date.

             Motion carried (FCCO/2024/005)

 

8          Waipori Fund - Quarter ending 31 March 2024

 

The report from the Dunedin City Treasury Limited (DCTL) provided information on the results of the Waipori Fund for the quarter ended 31 March 2024.

 

The Treasurer for Dunedin City Holdings Ltd (Richard Davey) and the Chief Financial Officer (Carolyn Allan) spoke to the report and responded to questions.

 

 

Moved (Cr Lee Vandervis/Cr Cherry Lucas):

That the Committee:

 

a)         Notes the report from Dunedin City Treasury Limited on the Waipori Fund for the quarter ended 31 March 2024.

b)        Notes that the Waipori Fund Statement of Investment Policy and Objectives (SIPO) will be reviewed as part of the 9-year plan 2025-34 process.

             Motion carried (FCCO/2024/006)

 

9          DUNEDIN CITY HOLDINGS LTD GROUP UPDATE  FOR QUARTER ENDING 31 March 2024

 

The report from Dunedin City Holdings Limited (DCHL) Group provided a quarterly update for the period ended 31 March 2024.

 

The Chair DCHL (Mr Tim Loan) and DCHL General Manager (Mr Peter Hocking) spoke to the report and responded to questions.

 

 

Moved (Cr Lee Vandervis/Cr Cherry Lucas):

That the Committee:

a)              Notes the Dunedin City Holdings Limited (DCHL) Group quarterly update for the              period ended 31 March 2024.

             Motion carried (FCCO/2024/007)

 

Resolution to Exclude the Public

Moved (Cr Lee Vandervis/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:

 

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  Property Services 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.

 

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.

 

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 (FCCO/2024/008)

 

10        Items for consideration by the Chair

 

There were no Items for consideration by the Chair.

 

The meeting concluded at 12:42pm.

 

 

 

 

..............................................

CHAIRPERSON