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

 


Finance Chair on new item about Cameron Partners report

Finance Chair comments on news item about Cameron Partners report

Friday 16 May 2014

Radio New Zealand has released information from an early draft of the Cameron Partners Report into the Christchurch City Council’s Funding Requirements and Options.

This report is to assist in ensuring the delivery of the Council’s long-term financial strategy.

The Chair of the Council’s finance committee Cr Raf Manji said the financial information about council assets in the early draft was publicly available in CCHL’s latest annual report.

“The early draft also referred to possible options for bringing the Council Controlled Organisations (CCOs) closer together. These options were early thinking which has already been revised,” said Cr Manji.

The Council was continuing to work on identifying the options available to help meet its funding shortfall.

“Options need to be on the table for consideration,” said Cr Manji.

“Councillors and staff will continue to work with Cameron Partners over the next few weeks to finalise the report and work through the various options.
.
“We hope to release the Cameron Partners report by the end of June,” said Cr Manji.

The Council appointed the corporate advisory firm last February to review the commercial assets of its investment arm Christchurch City Holdings Ltd (CCHL).

Cameron Partners was also asked to confirm that the proposed funding arrangements for the Council’s 2014-2015 draft annual plan would enable the plan to be delivered.

The terms of reference included 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.

This work follows the recent financial audit completed by Korda Mentha.

ends

© Scoop Media

 
 
 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

 

Parliament Today:

Werewolf: The Defence Pretence

Last year, the world began spending more money on weapons again, for the first time since 2011... New Zealand belongs to a region – Asia and Oceania – where military spending rose sharply in 2015, by 5.4 per cent. More>>

ALSO:

Gordon Campbell: On Not Crying Foul, Argentina

So a couple of guys found to be criminally liable of environmental pollution in Argentina lodge an application with the Overseas Investment Office… in order to buy some prime New Zealand rural land. Seems that their factory back home had carelessly and/or intentionally discharged toxic waste into the Lujan river. Bummer... More>>

ALSO:

Urban & Rural: $303m To Merge And Modernise New Zealand’s Fire Services

Internal Affairs Minister Peter Dunne today announced funding of $303 million over five years to combine urban and rural fire services into one organisation from mid-2017. More>>

ALSO:

High Trust Regime: What Did The PM Tell His Lawyer About Foreign Trusts?

The Government stopped the IRD from reviewing New Zealand foreign trusts shortly after the Prime Minister’s lawyer wrote to the Revenue Minister claiming John Key had promised him the regime would not be changed. More>>

ALSO:

Road Crime: Wicked Campers Vans Classified As Objectionable

The definition of publication includes any "thing that has printed or impressed upon it, or otherwise shown upon it, 1 or more (or a combination of 1 or more) images, representations, signs, statements, or words", The Classification Office has previously classified such 'things' as billboards, t-shirts, and even a drink can. This is the first time the Classification Office has classified a vehicle. More>>

ALSO:

'When New' Repairs: Landmark EQC Settlement

The Earthquake Commission has cut a deal with 98 Canterbury homeowners that affirms the government entity's responsibility to repair earthquake-damaged property to a 'when new' state, as well as covering repairs for undamaged parts of a property and clarifying its position on cash settlement calculations. More>>

ALSO:

Gordon Campbell: On Kiwirail’s Latest Stint In The Dogbox

The denigration of Kiwirail continues. The latest review (based on a 2014 assessment) of the options facing the company have enabled Kiwirail to be hung out to dry once again as a liability and burden on the taxpayer. More>>

ALSO:

Royal Society Report: Good Opportunities To Act Now On Climate Change

There are many actions New Zealand can and should take now to reduce the threat of climate change and transition to a low-carbon economy, a report released today by the Royal Society of New Zealand finds... More>>

ALSO:

Get More From Scoop

 

LATEST HEADLINES

 
 
 
 
 
 
 
 
 
Regional
Search Scoop  
 
 
Powered by Vodafone
NZ independent news