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Council agrees next steps in financing review

Decision digest |Finance and Performance Committee

19 November 2015

Council agrees next steps in financing review

Auckland Council’s Finance and Performance committee met today and discussed the two Alternative Sources of Financing reports by EY and Cameron Partners. The committee agreed to hold a workshop in February to consider the direction it wishes to take on the options presented, and agreed a number of areas to undertake preliminary further investigation.

Committee chair councillor Penny Webster said: “Both reviews recognised that the council’s finances are in good shape, reaffirmed by our Aa2 credit rating from Moody’s last week. And neither endorsed any particular course of action.

“They do, however, present options available to us and courses of action to help manage the growth Auckland is experiencing and finance the infrastructure needed to cope with that growth.

“Taking this to a further workshop in February will not only give us all time to consider the reviews, but also enable a thorough, considered conversation that will provide a platform to review the council’s financing streams and the options available to us.”

Further work was requested from council staff to explore the following areas ahead of the workshop in February:

• extend existing activity investigating operational efficiency gains with other opportunities contained within the reviews including fleet management,

• the effect of undertaking all options relating to the council’s share in Auckland International Airport Ltd,

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• upon receiving the Future Port Study, to further explore all options relating to the Ports of Auckland,

• further explore potential partnerships between the council and the private sector to develop and intensify its car parks,

• identify and minimise duplicated common back-office functions and operational costs across the council and,

• review the council Group’s commercial buildings.

Other items discussed at the meeting included:

Auckland Council Performance Report

This report provided an overview of the Auckland Council parent performance results for the period 1 July 2015 to 30 September 2015. It included an overview of the highlights and achievements, including recognition of several council projects at a number of award ceremonies, and also delivered results of the performance measures.

Those results showed that of the 40 measures reported on, 77 per cent achieved targets set, with 23 per cent not achieving targets. The report noted that of the areas not meeting targets there is an expectation that performance is likely to improve as a result of programmes currently being implemented.

The committee received the report.

Auckland Council Group first quarter financial results

The report presented the financial performance of results of the Group for the three months to 30 September. The report revealed operating surplus before gains and losses is $1.183 million vs budget of $1.235 million.

The committee received the report.

Implementing the New Food Act for Environmental Health (Food Premises)

The committee received a report on options for the establishment of new fees for food premises as result of the Food Act 2014, which will come into effect 1 March 2016.

Along with significant improvements to how food safety is addressed by commercial businesses, the new Act changes the way food premises are registered and managed by council.

The report recommended adoption of a Statement of Proposal for consultation with the public and food operators on the fixing of fees. The committee agreed with the process for consultation and adopted the Setting of Fees Under the Food Act 2014 Statement of Proposal. The submission process will open 20 November 2015.

The committee adopted the Statement of Proposal.

Other items

Other items discussed were:

• Quarter one Maori transformational shift and co-governance activities and expenditure,

• Reports Pending Status Update and,

• Annual Plan 2016/17 – update.

The agenda is available on Auckland Council’s website and minutes will be added once confirmed. This meeting was also webcast on the council’s website and items will be available on demand within 24 hours of the meeting.

ENDS


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