Local Govt | National News Video | Parliament Headlines | Politics Headlines | Search


Council appoints firm to review commercial assets

The Christchurch City Council has appointed corporate advisory firm Cameron Partners to review the commercial assets of its investment arm Christchurch City Holdings Ltd.

The Wellington firm will also review and confirm that the proposed funding arrangements for the Council’s 2014-2015 draft annual plan will enable the plan to be delivered. This work will follow the recent financial audit to be completed by Korda Mentha by the beginning of March.

The terms of reference include a financial review of CCHL and its ability to generate cash and capital, as well looking at how best to structure council controlled organisations (CCOs) and council-controlled trading organisations (CCTOs) to meet the demands of the rebuild.

The chair of the council’s finance committee Cr Raf Manji said the review was of high importance to the Council.

“The review will provide detailed information on funding options for the city's anchor projects, and how best to manage our assets in order to both meet the city’s strategic objectives and to provide the best financial return,” said Cr Manji.

“We need to be confident we can deliver what’s finally decided in the draft annual plan. In particular we need to confirm the amount to be received from the Council’s internal and external funding sources and when it will be available,” he said.

Cameron Partners was selected through a tender process involving five companies. The project is expected to take six weeks and to cost about $100,000.


© Scoop Media

Parliament Headlines | Politics Headlines | Regional Headlines



Relevant Consents Gained: Government Unveils RMA Reform Package

The government has formally hauled down the flag on its attempts to alter the balance of environmental and economic priorities in the Resource Management Act, unveiling a 180-page Resource Legislation Amendment Bill containing reforms that have been largely endorsed by most political parties. More>>


Closing Schools And Such: Interim Redcliffs Decision Announced

“While the school’s board has argued that circumstances that could give rise to potential disruption are extremely unlikely, advice from technical experts has shown these concerns cannot be ruled out." More>>


Jane Kelsey: High Court Can’t Make Groser Provide TPPA Information Faster

‘This week we went back to court to challenge Trade Minister Groser’s stalling tactics over the release of information on the Trans-Pacific Partnership Agreement negotiations, following a High Court order that he reconsider the Official Information Act request I made last January’, said University of Auckland law professor Jane Kelsey, first applicant in the case. More>>

Werewolf 58: No Climate For Change

The last time the global community tried to take collective action on climate change the world’s leaders finally came to agree that every not-too-onerous effort should be made to hold global warming to 2°C above the pre-industrial average. At Paris, all 150 participant countries nations will have put forward their pledges... On the information available, New Zealand's is the second weakest contribution of any nation in the developed world. More>>


Lambton Quay Shutdown: Object Was Made To Look Like Bomb

Police cordoned off part of Lambton Quay Wednesday afternoon, saying that a suspicious package had been found. Buildings were evacuated and buses were detoured. The army’s explosive ordnance disposal unit was brought to the Quay. More>>


Public Sector Still Shrinking: Record Low Number Of 'Backroom Bureaucrats'

Ongoing restraint in the public sector and a focus on better frontline services has seen a further reduction in the number of core Government employees, State Services Minister Paula Bennett says. More>>


Disobeying The Law: Police Censorship Of Crime Research “An Outrage”

The Green Party is calling on Police Minister Michael Woodhouse to ensure Police scrap controversial contracts that place onerous restrictions on academic researchers’ access to Police data, the Green Party says. More>>


Get More From Scoop



Search Scoop  
Powered by Vodafone
NZ independent news