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 18 September 2024, commencing at 9.05a.m.
Present: Ms C Taylor (Chairperson), His Worship the Mayor N Smith, Councillors M Courtney, R Sanson and Mr L McKenzie
In Attendance: Acting Chief Executive (A Louverdis), Group Manager Environmental Management (M Bishop), Group Manager Corporate Services (N Harrison), Group Manager Strategy and Communications (N McDonald), Team Leader Governance (R Byrne) and Governance Adviser (A Andrews)
Apologies : Deputy Mayor 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 the apologies from Deputy Mayor O’Neill Stevens for attendance and Mr McKenzie for lateness. |
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.
4.1 14 August 2024
Document number M20712, 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 14 August 2024, as a true and correct record. |
5. Draft Annual Report 2023/24
Document number R28614, agenda pages 14 - 194 refer.
Group Manager Strategy & Communications, Nicky McDonald, Group Manager Corporate Services, Nikki Harrison, Manager Strategy, Jessica Ettridge and Manager Finance, Prabath Jayawardana took the report as read. They answered questions on performance measures, feedback from Audit NZ, development contributions, dividend timing, external funding accrual, Waka Kotahi funding and key issues.
6. Carry Forwards - 2023/24 for Approval
Document number R28796, agenda pages 195 - 207 refer.
Group Manager Infrastructure, Alec Louverdis and Team Leader Accountants, Alistair Roper took the report as read. They answered questions on scale of the funds being carried forward in comparison to the previous financial year, comparison between storm recovery work and carried forward budgets, overestimating budgets and carrying forward underspent budgets, Better Off funding, Water Done Well funding and progress of the project and Three Waters staffing.
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That the Audit, Risk and Finance Committee 1. Receives the report Carry Forwards - 2023/24 for Approval (R28796) and its Attachments. |
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Recommendation to Council ARF/2024/050 |
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1. Approves the net capital carry forward of $12 million –$12.3 million net to 2024/25 and $250,000 back from 2025/26; and 2. Notes that the net capital carry forward is in addition to the net capital carry forward of $24.2 million approved during the Long Term Plan 2024/34 process, taking the total carry forward to $36.3 million of which $34.1 million is for the 2024/25 year and $1.4 million is for the 2025/26 year; and $500,000 is for the 2026/27 year and $300,000 is for the 2029/30 year; and 3. Notes the savings and reallocations in 2023/24 capital expenditure of $3.4 million including staff time which is in addition to the $0.7 million savings and reallocations already recognised in the May 2024 Long Term Plan 2024/34 deliberations; and 4. Notes that the total 2024/25 capital budget (including staff costs and Aug 2022 severe weather event related budgets and excluding consolidations, vested assets and scope adjustment) will be adjusted by these resolutions from a total of $107.1 million to a total of $119.3 million; and 5. Approves net capital grants carried forward of $628,000 to align with the timing of capital expenditure budgets; and 6. Approves capital grant budget of $4.1 million of Crown funding for slip effected property purchases to be carried back to 2023/24 to align with the accrual of that income that has been made for our Annual Report 2023/24; and 7. Approves the carry forward of $612,000 unspent operating expenditure budget to 2024/25, accompanied by $567,000 of operating grant funding budget. |
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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 - 14 August 2024 |
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 · Section 7(2)(c)(ii) To protect information which is subject to an obligation of confidence or which any person has been or could be compelled to provide under the authority of any enactment, where the making available of the information would be likely otherwise to damage the public interest · Section 7(2)(g) To maintain legal professional privilege |
The meeting went into confidential session at 10.06a.m. and resumed in public session at 10.07a.m.
The only business transacted in confidential session was to confirm the minutes. In accordance with the Local Government Official Information and Meetings Act, no reason for withholding this information from the public exists, therefore this business has been recorded in the open minutes.
Karakia Whakamutanga
There being no further business the meeting ended at 10.07a.m.
Confirmed as a correct record of proceedings by resolution on 20 November 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 18 September 2024, as a true and correct record. |