Audit, Risk and Finance Committee
Te Kōmiti Kaute / Tūraru / Pūtea
Held in the Council Chamber, Floor 2A, Civic House, 110 Trafalgar Street, Nelson on Wednesday 14 February 2024, commencing at 9.03a.m.
Present: Ms C Taylor (Chairperson), His Worship the Mayor N Smith, Councillor R Sanson and Mr L McKenzie
In Attendance: Chief Executive (N Philpott), Deputy Chief Executive/Group Manager Infrastructure (A Louverdis), Group Manager Environmental Management (M Bishop), Group Manager Corporate Services (N Harrison), Group Manager Strategy and Communications (N McDonald) and Governance Team Leader (R Byrne) and Assistant Governance Adviser (A Bryce)
Apology: An apology has been received from Councillors M Courtney and R O'Neill-Stevens
Karakia and Mihi Timatanga
1. Apologies
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That the Audit, Risk and Finance Committee 1.
Receives and accepts an apology from Councillors M Courtney and R
O'Neill-Stevens. |
2. Confirmation of Order of Business
There was no change to the order of business.
There were no updates to the Interests Register, and no interests with items on the agenda were declared.
There was no public forum.
5.1 24 November 2023
Document number M20377, agenda pages 7 - 13 refer.
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That the Audit, Risk and Finance Committee 1. Confirms
the minutes of the meeting of the Audit, Risk and Finance Committee, held on
24 November 2023, as a true and correct record. |
6. Letter From Audit NZ on Annual Report for year ending 30 June 2023
Document number R27973, agenda pages 14 - 53 refer.
Group Manager Corporate Services, Nikki Harrison, took the report as read and explained that the initial revaluation of three waters infrastructure was approximately a 31% increase and this was reviewed, Audit were happy with the reviewed figure of approximately a 22% increase.
When questioned why trivial items had been included in an Audit letter (e.g. $17.71 overpayment that was clearly explained) Ms Harrison agreed the matters should not be included and would follow up with Audit NZ. The Committee endorsed Ms Harrison’s approach.
7. Draft Treasury Management Policy including Liability Management and Investment Policies
Document number R28288, agenda pages 54 - 98 refer.
Group Manager Corporate Services, Nikki Harrison took the report as read and the Committee agreed, in addition to some matters raised by a member via email and accepted by officers, to amend the first bullet point of section 33.7 (Agenda page 90) to reflect governance decisions:
· “Contracting out forest management to reputable service providers and harvesting at the appropriate time to maximise returns and in accordance with Council resolutions.”
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That the Audit, Risk and Finance Committee 1. Receives the report Draft Treasury Management Policy including Liability Management and Investment Policies (R28288) and its attachments (438494377-3859 and 438494377-3833). |
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Recommendation to Council ARF/2024/005 |
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1. Adopts
the amended Treasury Management Policy (438494377-3833). |
8. Quarterly Finance Report to 31 December 2023
Document number R28218, agenda pages 99 - 121 refer.
Group Manager Corporate Services, Nikki Harrison took the report as read.
Group Manager Infrastructure, Alec Louverdis, answered questions on timing of the extreme weather event funding from Waka Kotahi and the National Emergency Management Agency and explained staff were also working with private insurers and while it was taking time the funding was coming in and being reported through the Storm Recovery Taskforce. He answered further questions on the breakdown of transport data, particularly events involving cyclists and pedestrians.
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That the Audit, Risk and Finance Committee 1. Receives the report Quarterly Finance Report to 31 December 2023 (R28218) and its attachments (1857728953-1257, 839498445-18200 and 839498445-18199). |
9. Quarterly Risk Report - 31 Dec 2023
Document number R28271, agenda pages 122 - 147 refer.
Internal Auditor, Chris Logan, took the report as read.
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That the Audit, Risk and Finance Committee 1. Receives the report Quarterly Risk Report - 31 Dec 2023 (R28271) and its attachment (1759736513). |
10. Quarterly Internal Audit Report - 31 Dec 2023
Document number R28272, agenda pages 148 - 151 refer.
Internal Auditor, Chris Logan, took the report as read and answered questions on members’ interests and how these were recorded. There was further discussion on how long an interests should be declared by a member after they had stood down from an entity.
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That the Audit, Risk and Finance Committee 1. Receives the report Quarterly Internal Audit Report - 31 Dec 2023 (R28272) and its attachment (1194974384). |
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Item |
General subject of each matter to be considered |
Reason for passing this resolution in relation to each matter |
Particular interests protected (where applicable) |
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1 |
Audit, Risk and Finance Committee Meeting - Confidential Minutes - 24 November 2023 |
Section 48(1)(a) The public conduct of this matter would be likely to result in disclosure of information for which good reason exists under section 7. |
The withholding of the information is necessary: · Section 7(2)(a) To protect the privacy of natural persons, including that of a deceased person · Section 7(2)(g) To maintain legal professional privilege |
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2 |
Health, Safety and Wellbeing Report to 31 December 2023 |
Section 48(1)(a) The public conduct of this matter would be likely to result in disclosure of information for which good reason exists under section 7 |
The withholding of the information is necessary: · Section 7(2)(a) To protect the privacy of natural persons, including that of a deceased person · Section 7(2)(d) To avoid prejudice to measures protecting the health and safety of members of the public |
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3 |
Quarterly Report on Legal Proceedings |
Section 48(1)(a) The public conduct of this matter would be likely to result in disclosure of information for which good reason exists under section 7 |
The withholding of the information is necessary: · Section 7(2)(g) To maintain legal professional privilege |
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4 |
Quarterly Update on Debts - 31 December 2023 |
Section 48(1)(a) The public conduct of this matter would be likely to result in disclosure of information for which good reason exists under section 7 |
The withholding of the information is necessary: · Section 7(2)(a) To protect the privacy of natural persons, including that of a deceased person |
The meeting went into confidential session at 10.21a.m. and resumed in public session at 10.47a.m.
Karakia Whakamutanga
12. Restatements
It was resolved while the public was excluded:
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Health, Safety and Wellbeing Report to 31 December 2023 |
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2. Agrees that Report (R28308) and attachment (855153265-4450) remain confidential at this time. |
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Quarterly Report on Legal Proceedings |
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2. Agrees that the Report (R28193) and Attachment (142319133-508) remain confidential at this time. |
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3 |
Quarterly Update on Debts - 31 December 2023 |
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2. Agrees that the Report R28270 and its attachment (1857728953-1250) remain confidential at this time. |
There being no further business the meeting ended at 10.47a.m.
Confirmed as a correct record of proceedings by resolution on 05 June 2024.
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That the Audit, Risk and Finance Committee 1. Confirms the minutes of the meeting of the Audit, Risk and Finance Committee, held on 14 February 2024, as a true and correct record. |