Corporate and Financial Committee Meeting Update
Corporate and Financial Committee Meeting Update
A meeting of Christchurch City Council’s Corporate and Financial Committee was held today.
The Committee considered a large number of staff reports including: the Earthquake Financial Report for May 2012, the Corporate Finance Report for the period ended 30 June 2012 and a number of Council Controlled Organisations (CCO) reports.
Committee Chair Helen Broughton welcomed members of the public who attended the meeting including a deputation by the trustees of the Rod Donald Banks Peninsula Trust and representatives of Port Hills residents, who are affected by rock-fall issues.
“Today was a significant milestone, as it was the return of the Finance Committee after an absence of eight years, due to the Council’s reintroduction of standing committees,” she says.
Council committees make recommendations to the full Council for final decisions. A summary of today's meeting is outlined below - the agenda is online.
The Committee
recommended the Council receive reports on the Earthquake
Financial Report for May 2012 and Corporate Finance Report
for period ended 30 June 2012. These staff reports
highlighted the following:
• The Earthquake Financial
Report provides an update to the Council on financial
matters relating to the earthquakes as at 31 May 2012.
Rebuild costs of $38.9 million were incurred in May, which
include Stronger Christchurch Infrastructure Rebuild Team
(SCIRT) costs of $24.9 million. Read the full report online for further
information.
• The Corporate Finance Report provides an
update to the Council on key financial and treasury matters
for the period ending 30 June 2012. The report notes that
Council staff are working with the Canterbury Earthquake
Recovery Authority (CERA) to finalise details of the
reimbursement by the Crown for emergency earthquake response
and recovery costs. Read the full report online for further
information.
The Committee recommended the Council
receive the following reports:
• 2011 Annual
Reports for the Council Controlled Organisations (CCOS)
Civic Building Limited, VBase Limited, World Buskers
Festival Trust, Tuam Limited, Christchurch Agency for Energy
Trust, Rod Donald Banks Peninsula Trust, Riccarton Bush
Trust, Mayor’s Welfare Fund Charitable
Trust.
• Half-yearly reports for Rod Donald Banks
Peninsula Trust, Christchurch Agency for Energy Trust,
Riccarton Bush Trust, VBase Limited and Civic Building
Limited for the period to 31 December 2011.
• Draft
Statement of Intent for the Council Controlled Organisation
(CCOS) Rod Donald Banks Peninsula Trust for the year ending
30 June
2013.
ENDS