Cameron Partners and EY awarded council financing tender

Today Auckland Council announced Cameron Partners and EY as the two independent advisory firms awarded the tender to review alternative sources of financing available to council.

On the 7th of May, the Budget Committee agreed to undertake a review of Auckland Council’s mix of financing resources. The broad objectives of the review are to reduce the proportion of council revenue funded from rates, to maximise the return on council’s investment, explore alternative sources of financing and review council assets.

Sue Tindal, Chief Financial Officer, says: “As Auckland Council faces the pressures associated with a rapidly growing city, such as the need for new infrastructure in growing communities, we need to ensure we are maximising all the financing sources available to us.

“After a thorough tender process, Cameron Partners and EY were found to be the most suitable. The selection criteria was based on experience balanced with cost effectiveness and experience working with local government. We are pleased to be working with such professional organisations and utilising their expertise.

“No decisions have been made on the council’s assets and the review will enable councillors to consider all options and make informed decisions as part of the 2016/17 Annual Plan process.”

ENDS

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