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.

ENDS

© Scoop Media

 
 
 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

 

Water, Pests, Erosion...: Commissioner Releases Mixed Report Card On Environment

The Parliamentary Commissioner for the Environment has released a mixed report card in her assessment of the state of New Zealand’s environment. “We are lucky to live in an exceptionally beautiful country, but we have some big issues to face up to” said Dr Jan Wright. More>>

ALSO:

Education: Private Schools Beneficiaries Of Extra Cash

“Not only did this year’s Budget freeze operational funding for state schools, but 86 per cent of secondary school principals say they don’t get enough funding, and the demand for school donations from parents is rising at 10 times the rate of inflation... Now we’ve got Hekia Parata proposing more cash for private schools." More>>

ALSO:

Shop Hours Bill Second Reading: Government Blocks Easter Trading Petition

The union representing retail workers is warning that the Government is out of touch with working people after passing the second reading of the Shop Trading Hours Amendment Bill, a law handing local authorities the power to permit trading on Easter Sunday. More>>

ALSO:

Gordon Campbell: On The Shewan Inquiry Into Our Tax Haven Rules

Like the political equivalent of lithium, Prime Minister John Key is routinely administered to dull any politically dangerous mood swings amidst the general public... More>>

ALSO:

Law Commission: Review Of Search And Surveillance Act Begins

“For example, the Act was drafted before cloud-based storage of data was commonplace. In the light of these and other developments, the Commission will be examining whether the investigative powers in the Act are sufficient for law enforcement purposes. We will also consider whether the safeguards that surround those processes are adequate.” More>>

ALSO:

Houses, Campers And Cops: LGNZ Media Briefing

At their quarterly media briefing today Local Government New Zealand addressed areas where local authorities are feeling pressure and outlined their approach for the upcoming local body elections in September-October. More>>

ALSO:

17 Year Sentences In Baby Moko Case: Attorney General On Plea Bargain

“The Crown’s decisions in this case, including the decision to accept the manslaughter pleas, were motivated by the need to secure convictions for this horrendous killing and to avoid the significant risk that either of the defendants could escape such a conviction because of evidential issues.” More>>

ALSO:

As Govt Cuts Lobby Anti-Smoking Group Funds: On The Nation - Plain Packaging Debate

Imperial Tobacco leaves open possibility of law suit against New Zealand government if plain packaging is introduced, as planned. Says it’s a “last resort” but “of course we will defend the right to use our brands”. More>>

ALSO:

Get More From Scoop

 

LATEST HEADLINES

 
 
 
 
 
 
 
 
 
Regional
Search Scoop  
 
 
Powered by Vodafone
NZ independent news