Finance and Performance Committee

Agenda

 

 

Notice of Meeting:

An ordinary meeting of the Finance and Performance Committee will be held on:

 

Date:                                     Wednesday 3 October 2018

Time:                                    9.30am

Venue:                                 Council Chambers, Civic Offices,
53 Hereford Street, Christchurch

 

 

Membership

Chairperson

Deputy Chairperson

Members

Councillor Raf Manji

Deputy Mayor Andrew Turner

Councillor Vicki Buck

Councillor Jimmy Chen

Mayor Lianne Dalziel

Councillor Mike Davidson

Councillor Anne Galloway

Councillor Jamie Gough

Councillor Yani Johanson

Councillor Deon Swiggs

Mr Mike Rondel (Non-Voting Member)

 

 

28 September 2018

 

 

 

Principal Advisor

Carol Bellette

General Manager Finance and Commercial

 

Aidan Kimberley

Committee and Hearings Advisor

941 6566

aidan.kimberley@ccc.govt.nz

www.ccc.govt.nz

Note:  The reports contained within this agenda are for consideration and should not be construed as Council policy unless and until adopted.  If you require further information relating to any reports, please contact the person named on the report.
To view copies of Agendas and Minutes, visit:
https://www.ccc.govt.nz/the-council/meetings-agendas-and-minutes/

 


Finance and Performance Committee

03 October 2018

 


Terms of Reference Finance and Performance Committee

 

Chair

Councillor Manji

Membership

Deputy Mayor Turner (Deputy Chair), Mayor Dalziel, Councillor Buck, Councillor Chen, Councillor Davidson, Councillor Galloway, Councillor Gough, Councillor Johanson, Councillor Swiggs and a non-voting independent member appointed by the Council.

Quorum

Half of the members if the number of members (including vacancies) is even, or a majority of members if the number of members (including vacancies) is odd.

Meeting Cycle

Monthly

Reports To

Council

 

Responsibilities

The focus of the Finance & Performance Committee is the financial and non-financial performance of the Council and its subsidiaries.

 

The Finance & Performance Committee:

·         Seeks to enhance the Council’s accountability with the community in relation to the Council’s financial and non-financial performance

·         Promotes active citizenship, community participation and community partnerships, including participatory budgeting

·         Works in partnerships with key agencies, groups and organisations

The Finance & Performance Committee considers and reports to Council on issues and activites relating to:

·         The preparation and adoption of the draft and final Annual Plan and Long Term Plan (based on the strategic direction of the Strategic Capability Committee)

·         Performance  against the  Long Term Plan (LTP) and  Annual Plan (AP), including financial performance and non-financial performance including:

-          medium to long term asset management

-          treasury investment and borrowings

-          organisational performance and capability

·         Insurance matters including to:

-          consider legal advice from the Council’s legal and other advisers,

-          approve further actions relating to the issues,

-          make recommendations to Council concerning formal actions.

·         Performance of a number of subsidiaries including Council Controlled Organisations (CCO). 

·         Recommendations   from   Council’s   Subcommittees,   Community Boards, the public, stakeholders and providers in relation to finance and performance.

·         Overseeing the development to the Annual Report for consideration by the Council

·         Development of the financial policy of the Council

·         Development of a Genuine Progress Indicator

 

Process for appointing Independent Members to the Finance and Performance Committee

 

The following principles will guide the appointment process for Independent Members of the Finance and Performance Committee:

 

1.              Council Officers, in consultation with Elected Members, will compile a longlist of candidates and provide this list to the General Manager Finance and Commercial for consideration.

 

2.              If appropriate, the Chair of the Finance and Performance Committee and the General Manager Finance and Commercial may endorse the nominations.

 

3.              Candidates will be contacted at the appropriate time to confirm their willingness to serve as an independent committee member and, if confirmation is received, appropriate background checks as determined by the General Manager Finance and Commercial will be conducted. Candidates will also be informed of Council policies.

 

4.              The Chair and Deputy Chair of the Finance and Performance Committee, and the General Manager Finance and Commercial, will review the candidates to develop a shortlist by assessing the following:

 

a.              Professional credentials and relevant experience.

b.             Their understanding of relevant legislation.

c.              Experience overseeing or assessing the performance of organisations.

d.             Potential conflicts of interest.

e.             Affiliations or connections with the Council and its related entities.

f.               Reference and background check reports.

 

5.              The shortlist of candidates will be presented to an Appointments Panel. The Panel will select from that shortlist the independent member to be appointed to the Committee. The resolution to appoint the independent member should specify the dates on which the appointment commences and concludes. 

 

1.         The Chair of the Panel will inform the Council in writing of the Panel’s decision.

 


Finance and Performance Committee

03 October 2018

 

Part A        Matters Requiring a Council Decision

Part B         Reports for Information

Part C         Decisions Under Delegation

 

 

TABLE OF CONTENTS

 

C       1.       Apologies.......................................................................................................................... 6

B       2.       Declarations of Interest................................................................................................... 6

C       3.       Confirmation of Previous Minutes................................................................................. 6

B       4.       Public Forum.................................................................................................................... 6

B       5.       Deputations by Appointment........................................................................................ 6

B       6.       Presentation of Petitions................................................................................................ 6

Staff Reports

C       7.       Taiora QEII Recreation and Sport Centre Financial Close-Out Report...................... 13

C       8.       Asset Management Programme Report...................................................................... 19

C       9.       Performance Reporting for August 2018..................................................................... 27

A       10.     Christchurch City Holdings Ltd - Annual Report 2017/18.......................................... 35

A       11.     Regenerate Christchurch - Quarterly Performance Report for period 1 April to 30 June 2018............................................................................................................................... 169

A       12.     Development Christchurch Ltd - Quarterly Progress Report, September 2018..... 183

C       13.     Resolution to Exclude the Public............................................................................... 189  

 

 


Finance and Performance Committee

03 October 2018

 

 

1.   Apologies

An apology was received from Mayor Dalziel.

2.   Declarations of Interest

Members are reminded of the need to be vigilant and to stand aside from decision making when a conflict arises between their role as an elected representative and any private or other external interest they might have.

3.   Confirmation of Previous Minutes

That the minutes of the Finance and Performance Committee meeting held on Wednesday, 5 September 2018  be confirmed (refer page 7).

4.   Public Forum

A period of up to 30 minutes may be available for people to speak for up to five minutes on any issue that is not the subject of a separate hearings process.

5.   Deputations by Appointment

There were no deputations by appointment at the time the agenda was prepared.

6.   Petitions

There were no petitions received at the time the agenda was prepared.


Finance and Performance Committee

03 October 2018

 

 

 

Finance and Performance Committee

Open Minutes

 

 

Date:                                     Wednesday 5 September 2018

Time:                                    9.30am

Venue:                                 Council Chambers, Civic Offices,
53 Hereford Street, Christchurch

 

 

Present

Chairperson

Deputy Chairperson

Members

Councillor Raf Manji

Deputy Mayor Andrew Turner

Councillor Vicki Buck

Councillor Jimmy Chen

Mayor Lianne Dalziel

Councillor Mike Davidson

Councillor Anne Galloway

Councillor Jamie Gough

Councillor Yani Johanson

Mr Mike Rondel (Non-Voting Member)

 

 

4 September 2018

 

 

 

Principal Advisor

Carol Bellette

General Manager Finance and Commercial

 

Aidan Kimberley

Committee and Hearings Advisor

941 6566

aidan.kimberley@ccc.govt.nz

www.ccc.govt.nz

To view copies of Agendas and Minutes, visit:
www.ccc.govt.nz/Council/meetingminutes/agendas/index

 


Part A        Matters Requiring a Council Decision

Part B         Reports for Information

Part C         Decisions Under Delegation

 

 

 

The agenda was dealt with in the following order.

1.   Apologies

Part C

Committee Resolved FPCM/2018/00048

Committee Decision

That the apology from Councillor Swiggs, apology for early departure from Councillor Chen, and apologies for lateness from Mayor Dalziel and Deputy Mayor Turner be accepted.

Councillor Galloway/Councillor Davidson                                                                                                          Carried

 

2.   Declarations of Interest

Part B

Mayor Dalziel, Deputy Mayor Turner, Councillor Buck and Councillor Gough declared interests in items 7 and 9 as Council appointed Directors of Christchurch City Holdings Limited.

3.   Confirmation of Previous Minutes

Part C

Committee Resolved FPCM/2018/00049

Committee Decision

That the minutes of the Finance and Performance Committee meeting held on Wednesday, 1 August 2018 be confirmed.

Councillor Buck/Councillor Gough                                                                                                                        Carried

 

4.   Public Forum

Part B

There were no public forum presentations.

5.   Deputations by Appointment

Part B

There were no deputations by appointment.

6.   Presentation of Petitions

Part B

There was no presentation of petitions.

Mayor Dalziel and Deputy Mayor Turner joined the meeting at 9:34am.

7.   Chairperson's Report

 

Committee Comment

Councillor Clearwater was in attendance and joined the table for this item.

 

Chairperson’s Recommendations

Councillor Manji moved, seconded by Councillor Gough that the Finance and Performance Committee recommends that the Council:

1.         Note increasing debt levels for both the Council and Christchurch City Holdings Limited.

2.         Request Christchurch City Holdings Limited to seek external independent advice on high-level analysis of options on capital release.

3.         Request Christchurch City Holdings Limited to report back with preliminary advice to the Finance and Performance Committee within 3 months.

When put to the meeting by way of division the motion was declared lost by 4 votes to 5 votes the voting being as follows:

For:                    Councillor Manji, Mayor Dalziel, Councillor Davidson and Councillor Gough

Against:           Deputy Mayor Turner, Councillor Buck, Councillor Chen, Councillor Galloway and Councillor Johanson

Councillor Manji/Councillor Gough                                                                                                                             Lost

Committee Decided FPCM/2018/00050

That the Finance and Performance Committee recommends that the Council:

1.         Requests Christchurch City Holdings Limited to report to the Council on any current considerations of its financial strategy, including its Capital Release strategy.

Deputy Mayor/Councillor Gough                                                                                                                         Carried

Councillors Buck and Johanson requested that their vote against the above decision be recorded.

Councillor Chen left the meeting at 10:00am.

8.   Final Statements of Intent - ChristchurchNZ Holdings Ltd and Central Plains Water Trust

 

Committee Comment

Joanna Norris of ChristchurchNZ delivered a presentation to the Committee on the final Statement of Intent for ChristchurchNZ Holdings Ltd.

The Committee noted the advice set out in paragraphs 4.8 and 4.9 of the staff report about revising ChristchurchNZ’s Levels of Service measures. The Committee made an additional recommendation to the Council, set in in clause 2. below, to request a workshop with ChristchurchNZ on proposed new Levels of Service measures.

 


 

Committee Decided FPCM/2018/00051

Part A

That the Finance and Performance Committee recommends that the Council:

1.      Notes the final Statement of Intent for 2018/19 for ChristchurchNZ Holdings Ltd is a substantially different document to its draft Statement of Intent and is therefore appended to the report as Attachment A;

2.      Requests Council staff and ChristchurchNZ to hold a workshop with the Council on proposed new levels of service before the end of 2018.

3.      Notes that the final Statement of Intent for 2018/19 for Central Plains Water Trust is identical to the draft SOI and can be accessed on the Central Plains Water Trust’s website or a hard copy can be sought from Council staff; and

4.      Notes that the final Statements of Intent for 2018/19 for Central Plains Water Trust and ChristchurchNZ Holdings Ltd were delivered to the Council in accordance with the statutory timeframe and meet the content requirements of clause 9, schedule 8 of the Local Government Act 2002.

Councillor Buck/Councillor Davidson                                                                                                                   Carried

 

9.   Christchurch City Holdings Ltd - Final Statement of Intent

Committee Comment

Leah Scales of Christchurch City Holdings Limited joined the table for this item.

 

Committee Decided FPCM/2018/00052

Part A

That the Finance and Performance Committee recommends that the Council:

1.         Notes the final Statement of Intent for Christchurch City Holdings Ltd which was delivered in accordance with the statutory timing of 30 June, and meets the minimum content requirements set out in clause 9 of Schedule 8 of the Local Government Act 2002;

2.         Notes that the Christchurch City Holdings Ltd Group’s Statements of Intent have addressed the comments made by the Council on the draft documents;

3.         Notes that the financial information recorded in the final Statements of Intent for the Christchurch City Holdings Ltd Group has been fully reflected in the Long Term Plan 2018-2028; and

4.         Notes that the Statements of Intent for the Christchurch City Holdings Ltd Group can be located on each company’s website or a request for a hard copy can be made to Council Finance staff.

Councillor Davidson/Councillor Manji                                                                                                                 Carried

 


 

10. Performance Reporting for Year End June 2018

 

Committee Resolved FPCM/2018/00053

Part C

That the Finance and Performance Committee:

1.         Receives the information in the report.

Deputy Mayor/Councillor Gough                                                                                                                         Carried

 

 

11. Financial Performance report for the year ended 30 June 2018

 

Committee Comment

The Committee discussed costs associated with the SCIRT programme and made an additional recommendation to the Council to request a full and final report on SCIRT.

 

Committee Decided FPCM/2018/00054

Part A

That the Finance and Performance Committee recommends that the Council:

1.         Receives the information in the report.

2.         Approves operational carry forward requests from 2017/18 of $12.8 million (as detailed in Attachment B), to enable completion of projects in 2018/19 and beyond.

3.         Approves (as detailed in Attachment D) net capital carry forwards from 2017/18 of $116.2 million to enable completion of capital projects in 2018/19 or later as indicated, noting that:

a.         $105.9 million moves to 2018/19 and replaces a projected $122.4 million already included in the LTP for the 2018/19 year.

b.         $17.5 million moves to 2019/20 and $7.2 million is brought back from the years’ 2021/22 – 2022/23.

4.         Approves net capital revenue and funding carry forwards from 2017/18 of $16.9 million to align with the capital programme, noting this includes $12.8 million for development contribution rebates.

5.         Notes that the capital programme after carry forwards results in $15.7 million less borrowing than budgeted which allows the borrowing capacity to be used to fund the Town Hall rebuild, previously approved by Council resolution.

6.         Requests staff to provide a full and final report on SCIRT to the Council, including reference to the HIGG independent Chair’s report, independent assessor’s report and OAG report, and noting any other reports that have been published.

Councillor Manji/Mayor                                                                                                                                           Carried

 


 

12  Resolution to Exclude the Public

 

Committee Resolved FPCM/2018/00055

Part C

That at 11:12am the resolution to exclude the public set out on pages 184 to 185 of the agenda be adopted.

Councillor Manji/Deputy Mayor                                                                                                                              Carried

 

The public were re-admitted to the meeting at 11:46am.

 

   

Meeting concluded at 11:47am.

 

CONFIRMED THIS 3RD DAY OF OCTOBER 2018.

 

Councillor Raf Manji

Chairperson

 


Finance and Performance Committee

03 October 2018

 

 

7.        Taiora QEII Recreation and Sport Centre Financial Close-Out Report

Reference:

18/947897

Presenter(s):

Mark Noonan, Project Director, Capital Delivery Major Facilities

 

 

1.   Purpose and Origin of the Report

Purpose of the Report

1.1       The purpose of this report is for the Finance and Performance Committee to be informed about the financial status of the Taiora QEII Recreation and Sport Centre.

1.2       This report is being provided to fulfil the Finance Committee’s request for information on the budget and actual expenditure and to document financial knowledge gained during the project that will be relevant to other recreation facilities in the Council's Long Term Plan (LTP).

Origin of the Report

1.3       This report was requested by the Chair of the Committee to review the financial performance of the project and to document financial lessons learned gained during the project that will be relevant to other recreation facilities in the Council's LTP.

2.   Staff Recommendations

That the Finance and Performance Committee:

1.         Receive the specific information contained in the Financial Close-Out Report.

3.   Key Points

3.1       The Project Team consulted and worked well with the Coastal-Burwood Community Board and the Recreation & Sport Unit to determine the scope and a concept design for the project.  

3.2       The concept design and Employer’s Requirements were carefully planned and set out in detail the scope, finishes and quality required.  This made it clear to the Design & Build contractor what was required and reduced the chance for the contractor to claim variations.

3.3       The three scope changes on the project were the addition of a hydrotherapy pool (due to a change in the type of heat pumps), a chlorine generation system and a carpark management system.

3.4       The Design & Build form of contract used on this project worked very well with the major project risk of ground remediation of the existing site being handled by Apollo Projects Ltd, the Design & Build contractor.

3.5       Apollo maintained a very high standard of finish and workmanship on the project, and had an excellent Health & Safety culture. 

3.6       The contract was completed one month ahead of programme and opened on 31 May 2018 with a full Code Compliance certificate.

3.7       A lessons learned workshop was held on 31 July 2018.  The key feedback from Apollo was a request that the Design & Build tenderer should not be required to provide a developed design as part of their tender provided they are not changing the concept design provided by the Council and are not changing the Employer’s Requirements.  This request will be considered for the Linwood Pool project.

3.8       The overall Contingency on the project at tender acceptance was $1,400,000 ($400,000 Building Contingency and $1,000,000 Project Contingency).

3.9       The Contingency on the project was reduced due to the draft inflation provisions for future financial years being revised, resulting in a revised overall Contingency of $1,122,754 which equated to just under 3% of the other project costs.

3.10    The overall Contingency was carefully managed during construction and all major changes were approved by the monthly Project Control Group.

3.11    The final account is still to be agreed with Apollo, but the current forecast is an underspend of approximately $236,000 on the project budget.

4.   Context/Background

Scope of Works

4.1       The Project Team consulted and worked well with the Coastal-Burwood Community Board and the Recreation & Sport Unit to determine the scope and a concept design for the project.  

4.2       A final confirmation on the scope of the project did take some time and required confirmation by the Council.  Discussions mainly focussed on the size of the main lap pool.

4.3       Once the scope was confirmed by Council, the concept design and Employer’s Requirements were carefully planned for inclusion in the Design & Build tender documentation.  The tender documentation set out in detail the scope, finishes and quality required but left it up to the contractor to determine such things as the method of ground remediation and type of pools to be used.

4.4       It is extremely important that the preparation of the concept design and Employer’s requirements is not rushed.  There is only one opportunity to get it right.  It needs to be accurate and make it clear to the Design & Build contractor what was required.  This will minimise the chance for the contractor to claim variations and allow the contract to run smoothly.

4.5       The Ministry of Education decided that it no longer wanted to take its energy for the two new high schools, which were to be constructed on an adjacent site at QEII, from the energy centre being provided as part of the Taiora QEII project.  This meant that the ground source heat pumps proposed would no longer be economic to run and would have a pay-back period in excess of 80 years. 

4.6       As part of the acceptance of Apollo’s tender, Council resolved that the potential cost saving for changing the heat pumps from ground source to air source was to be investigated, with the GM City Services and GM Citizens & Community delegated authority to change the heat pumps and provide additional water attractions with the resultant saving.

4.7       Following investigation it was decided to change the type of heat pumps to air source and add a hydrotherapy pool into the project.  This pool has been extremely popular and well used since the facility opened. 

4.8       The scope of the project was also increased due to the inclusion of a chlorine generation system including plantroom.  This system was approved separately as part of the LTP and generates 2.5% chlorine from salt.  It provides chlorine to all the Council’s pools apart from the proposed Metro Sports Facility which will have its own plant.

4.9       The third change to the scope was the inclusion of a carpark management system for the 200 space main carpark.  When the system is activated, the intention is that there will be no charge for Taiora QEII users to use the carpark.

4.10    This will hopefully discourage unauthorised use of the carpark by students and staff from the adjacent two high schools which will open next year.  There is limited parking being provided on the school site, and the Council wants to try to ensure its carpark spaces are available for Taiora QEII users.

4.11    The carpark management system installed utilised new Council-owned equipment which had been in storage at Sockburn Depot since the earthquakes.  The parking equipment was brand new and software in the equipment was updated to the latest technology.   

Design & Build Tender

4.12    Apollo Projects Ltd (Apollo) were the successful Design & Build tenderer.

4.13    The Design & Build form of contract was used on this project because it gives more cost certainty for the Council since the price to be paid to the contractor wouldn’t change unless Council changed something on the agreed contract.  Apollo were responsible for the major risk on this project of ground remediation of the site.  They were also responsible for engaging their own consultants to develop the concept design, prepare the detailed design documentation and obtain the Building Consent. 

4.14    The Council engaged its own consultants to prepare the concept design and Employer’s Requirements.  They were also retained to monitor construction and ensure that it was carried out correctly and met the Employer’s Requirements.  The Council’s consultants worked well with Apollo’s consultants and usually carried out their regular site inspections together.  This minimised any unnecessary paperwork and any required changes/remedial work could be agreed before the consultants left the site.

4.15    The good thing for the Council with the Design & Build form of contract is that any discrepancies in the design documentation are the responsibility of the contractor rather than Council.  In the “traditional” form of contract, the Council would be responsible for preparing the design documentation and any discrepancies discovered in them would be a variation with the Council having to pay any additional cost involved.

4.16    Design & Build worked well on this project for the Council.  As noted above, the Employer’s Requirements were well planned and detailed, and a strong control was exercised on variations and scope changes which would affect the contractor’s programme.

4.17    The Recreation & Sport Unit gave its input into the tender documentation and there were only minor changes made during the construction.  None of these affected the overall programme.  The only three scope changes made were the inclusion of the hydrotherapy pool, chlorine generation plant and carpark management system as noted above.

4.18    Apollo maintained a very high standard of finish and workmanship on the project, and had an excellent Health & Safety culture.  Their philosophy on Health & Safety was to report all near misses/incidents which provides the opportunity for learning and minimising future risks.

4.19    The contract was completed one month ahead of programme and opened on 31 May 2018 with a full Code Compliance Certificate.

4.20    There were minimal defects to be remedied at completion and all have been resolved. 

Lessons Learned

4.21    A lessons learned workshop was held on 31 July 2018.  This involved representatives from Apollo Projects Ltd, the project consultants and Council (Recreation & Sport Unit, Facilities Unit and Capital Delivery Major Facilities Unit).

4.22    The key feedback from Apollo was that they requested that the Design & Build tenderer should not be required to provide a developed design as part of their tender provided they are not changing the concept design provided by the Council and are not changing the Employer’s Requirements.  Apollo felt that having to develop the concept design was a cost that was prohibitive to contractors, particularly smaller contractors like themselves.

4.23    This feedback has been received and the Project Team for the new Linwood Pool will consider this request and incorporate it in their tender documentation if it is decided that this change is appropriate.

4.24    It would certainly make tender evaluation easier as the evaluators would not have to review the developed design documentation from each tenderer.  This takes a considerable amount of time to ensure that the tender is in accordance with the Employer’s Requirements.  In the case of Taiora QEII there were eight rounds of tender queries with the two lowest tenderers before the preferred tenderer could be identified.

4.25    It would be essential that the tenderer fully details in their tender clarifications/tags any departures they have made from the concept design and Employer’s Requirements.

4.26    Other major lessons learned were as follows:

4.26.1    The three roles of the Council (as Principal to the Contract, Network Provider (Three Waters & Waste) and Consent Authority) need to be clearly stated in the tender documentation.  Contract Instructions for variations can only be issued by the Council as Principal.  On Taiora QEII, Apollo incorrectly interpreted requests from Three Waters & Waste as being a Contract Instruction which justified them claiming a variation.

4.26.2    The site boundaries on large sites like QEII need to be clearly stated in the tender documentation and co-ordinated between the different consultants so there is no confusion on the scope of the project.  The requirement to run service connections beyond the identified site boundaries to connect to the network mains in the street also needs to be stated clearly.

4.26.3    The Building Consent costs were included as a Provisional Sum by Apollo.  The sum was exceeded by around $131k.  In future, the Building Consent cost needs to be fixed by the Design & Build Contractor at tender stage.  If there is a Provisional Sum included in their tender and the Council is paying the cost, there is no incentive on the contractor to reduce the number of stages or ensure that sufficient detail is provided to reduce the number of clarification queries issued by the Consent Authority.

4.26.4    Apollo decided to use subcontractors to design services such as electrical, pool water and mechanical.  These key trades lacked the level of design and oversight that a professional engineer would have provided.  This placed additional pressure on the Council’s consultants to review and oversee the design, construction and commissioning of these trades.  In future, the Design & Build contractor needs to provide professional designers for all service disciplines. 

Financial Performance

4.27    The overall Contingency on the project at tender acceptance was $1,400,000 ($400,000 Building Contingency and $1,000,000 Project Contingency).

4.28    The Contingency on the project was reduced due to the draft inflation provisions for future financial years being revised, resulting in a revised overall Contingency of $1,122,754.  This equated to just under 3% of the other project costs and is considered low compared to other projects. 

4.29    The Contingency on a Design & Build contract can be lower as the contractor is responsible for any discrepancies in the documentation and usually most of the risks such as ground remediation.   

4.30    The overall Contingency was very carefully managed during construction, and all major changes were approved by the monthly Project Control Group.

4.31    The final account is still to be agreed with Apollo Projects Ltd, but the current forecast is an underspend of approx. $236k on the project.

 

Attachments

There are no attachments for this report.

 

Signatories

Authors

Rita Estrella - Senior Project Coordinator

Mark Noonan - Project Director

Approved By

Alistair Pearson - Manager Capital Delivery Major Facilities

Mary Richardson - General Manager Citizen and Community

  


Finance and Performance Committee

03 October 2018

 

 

8.        Asset Management Programme Report

Reference:

18/902452

Presenter(s):

Piers Lehmann, Head of Asset Management

 

 

1.   Purpose and Origin of Report

Purpose of Report

1.1       The purpose of this report is to inform the Finance and Performance Committee about the Asset Management Improvement Programme activity.

Origin of Report

1.2       This report is in response to the Council Meeting of 20/12/2017 requesting that staff report on the Asset Management Improvement Programme to the Finance and Performance Committee on a six-monthly basis.

1.3       This report provides the Finance and Performance Committee with information about the Asset Management Programme focus, content and delivery. The Monthly Portfolio Dashboard Report is created by the Asset Management Centre for Excellence and presented to the monthly Asset Management Governance Board meeting.

2.   Significance

2.1       This is a ‘for information’ report therefore consideration of significance is not required.

 

3.   Staff Recommendations

That the Finance and Performance Committee:

1.         Receives the information contained in this report and the August 2018 Portfolio Dashboard Report

2.         Confirms the monthly Portfolio Dashboard Project meets the Finance and Performance Committee needs; or

3.         Advises type of reporting required.

 

4.   Key Points

4.1       Asset Management Unit is continues oversight of two streams of work, business led projects and IT enabled projects supporting those business change projects.

4.1.1   The Advancing Asset Management Programme commenced in July 2016 and is currently delivering 18 projects this financial year, including one SCIRT Transition project. See Attachment A for the ‘advancing asset management programme timeline’.

4.1.2   The Asset Management Strategy and Policy has been completed and was endorsed by ELT on 26 March 2018. This, in conjunction with the Asset Management Maturity Report, forms the backbone of activities and the approach to improving the maturity of asset management practise within the Council. It is important to note that this is distinctly different to the strategy for managing the Assets - Strategic Asset Management Plan (SAMP) and is a separate piece of work outlined below, 4.1.9.

4.1.3   The Advancing Asset Management Programme currently has 18 projects underway. Of those projects, 3 are carried over from the previous report and 8 new projects have been started this financial year (2018/19).

4.1.4   The second Asset Management Maturity Assessment (AMMA) has been carried out and will be made available to the Audit and Risk Management Committee in November.

4.1.5   The Asset Management Unit has, as part of the recommendation from the asset maturity assessment carried out in 2016, brought focus to the quality management aspect of the programme (Audit and Risk Tracked Item) and started two streams of work to identify the best approach for this significant piece of work. The projects focus on the disposal of all assets and land drainage asset lifecycle processes. To date, the disposal project in its early stages, has identified approximately $300,000 of assets that could be sold (Turners-Aug 2018).

4.1.6   Four condition and value reports have been completed and submitted to the Finance and Performance Committee over the past year. A thematic overview of those reports will be made available and will be used in the definition and refinement of the programme going forward.

4.1.7   The Asset Management Unit has, through its close ties with the SCIRT Transition Programme, successfully acquired the ‘Forward Works Viewer’ from LINZ with funding for 3 years ~$400,000. This platform will look to enable much better coordination and visibility of activity within the city. This also has contributions, in addition to the LINZ funding, from other subscribed organisations totalling $150,000 PA. We will look to develop this platform further to support the Council’s ambition of better coordinated asset renewal activities.

4.1.8   The Asset Management Unit has recently brought together the six work streams that constitute our building information management (BIM) activities. The BIM project will allow the Council to bid for $1.05M funding from the Ministry of Building Innovation and Employment. The project will further integrate information management spanning from design stage, consenting and compliance, through handover and asset management for total cost of ownership modelling. The information will be invaluable for driving costs down in the management of assets.

4.1.9   A full review of LTP related documentation has already begun, including strategies for infrastructure review, the Strategic Asset Management Plan (SAMP) and Asset Management Plans. These documents form the backbone of decision making and prudent financial expenditure. They will enable workshops to be conducted earlier to allow Councillors to be better positioned to understand the issues and opportunities available for the 2021 LTP activities 1.5 years before LTP is due.

4.1.10 The Programme has been reviewed and extended further (see building block diagram under paragraph 5.10). The focus has been on prioritising activities that relate to deliverables for the 2021 LTP, projects that will enable external funding to be secured and projects that target specific areas of improvement required from other audits (NZTA and Water services review).

4.1.11 The SAP Facilities improvement project has completed- This project was initiated on early visibility of the challenges for capturing and storing information about our building assets, as was subsequently highlighted in the Finance and Performance Committee report on 4 July 2018. This project is a significant step forward for the organisation and is aligned now with newly ratified national standards.


 

4.1.12 Significant issues remain with resourcing and engagement within the teams due to the substantial changes the Council are driving through other programmes and BAU activities. Close collaboration will be essential to understand the dynamic environment with adjustment being required throughout the year.

 

5.   Context/Background

Establishment of the Asset Management Unit

5.1       The Asset Management Unit was established in April 2016 to provide cross functional responsibility to deliver a sustainable and appropriate Advanced Asset Management service delivery framework to support the community outcomes, levels of service and business requirements.

Advancing Asset Management Programme

5.2       The Asset Management Unit scope is to continuously improve asset management in Transport, Three Waters and Waste, Vertical Capital & Delivery, Parks and Facilities business units.

5.2.1   The Asset Management Unit Centre for Excellence Programme Team, in collaboration with the business unit representatives, together reviewed and endorsed the 2018/2019 Advancing Asset Management Programme and presented it to the Asset Management Governance Board in June 2018 to enable work to begin.

5.2.2   This programme is underway and progress is reported monthly by the Programme Manager to the Asset Management Governance Board and includes the Portfolio Dashboard Report.

5.2.3   The Advancing asset management programme (FY17/18) completed year to date $26,000 under budget of $1.618M. The $26,000 has been carried forward to the next FY.

5.2.4   Of the final 20 projects initiated for the 2017/18 programme, 12 were completed and 7 continue, as they are multiyear projects. 74 improvement initiatives have been identified and 22 completed during the same time period.

5.2.5   Excellent work has been completed on the project supporting the renewal programme for 3W, the project remains red at the end of year due to competing priorities with the LTP and limited resource available. This has now been mitigated with extra capacity being brought on to support this important piece of work.

5.2.6   See Attachment B for end of year Summary report for the asset management programme.

Asset Management Maturity Assessment

5.3       The Treasury Investment Confidence Rating Framework’s Asset Management Maturity Assessment tool was selected as the most appropriate methodology for assessing Council asset management maturity to provide assurance to local government and central government as part of the SCIRT Transition work.

5.4       The Asset Management Unit initiated the second Asset Management Maturity Assessment and provided project management as a joint effort, in collaboration with Risk and Audit who funded the work. Kathy Dever-Tod again conducted interviews with over 60 staff from within the business units in asset management related roles.

5.5       The final report and recommendations will go to the Asset Management Governance Board and to the Audit and Risk Management Committee in November 2018. Feedback and workshops from this will help to inform the priorities within the Asset improvement programme for the next year’s programme (FY19/20).


 

2017-2021    Asset Management Programme Delivery Framework and Timeline

5.9       The Asset Management Improvement Programme takes Council from 2017 to 2021 through one LTP cycle.  The themes for each year for Asset Management are:

2016-17 Asset Management Foundations

2017-18 Enabling Core Asset Management

2018-19 Evidence Based Planning

2019-20 Optimised Asset Management

2020-21 Optimised Asset Management/ LTP

2020-22 Advanced Asset management

2020-23 Advanced Asset management LTP planning

5.10    The figure below shows the building blocks for the Improvement Plan by categories People, Process, Information and Technology.

 

5.11    Reporting on projects related to the Building Blocks above will be visible in the monthly Portfolio Dashboard report as they move through the Asset Management Programme Lifecycle.

 

Attachments

No.

Title

Page

a

Asset Management - Programme Plan 2018-2019

24

b

Centre for Excellence Asset Management Financial Year in Review 2017-2018

25

 

 

Confirmation of Statutory Compliance

Compliance with Statutory Decision-making Requirements (ss 76 - 81 Local Government Act 2002).

(a) This report contains:

(i)  sufficient information about all reasonably practicable options identified and assessed in terms of their advantages and disadvantages; and

(ii) adequate consideration of the views and preferences of affected and interested persons bearing in mind any proposed or previous community engagement.

(b) The information reflects the level of significance of the matters covered by the report, as determined in accordance with the Council's significance and engagement policy.

 

Signatories

Authors

Wendy Walker - Senior Asset Management & Programme Advisor

Sandra Hosgood - Personal Assistant

Piers Lehmann - Head of Asset Management

Michelle Saban - Programme Manager

Approved By

Piers Lehmann - Head of Asset Management

David Adamson - General Manager City Services

  


Finance and Performance Committee

03 October 2018

 

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Finance and Performance Committee

03 October 2018

 

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Finance and Performance Committee

03 October 2018

 

 

9.        Performance Reporting for August 2018

Reference:

18/1002236

Presenter(s):

Peter Ryan, Head of Performance Management Unit

 

 

1.   Purpose of Report

1.1       The purpose of this report is for the Finance and Performance Committee to note an update on LTP level of service performance.

2.   Staff Recommendations

That the Finance and Performance Committee:

1.         Receive the information in the report.

 

3.   Key Points

3.1       Staff forecasts as at 31 August 2018 (Attachment A) indicate a LTP level of service achievement of 91.8%.

3.2       Individual LTP level of service exceptions are set out in Attachment B.

 

 

 

Attachments

No.

Title

Page

a

LTP Level of Service Forecast Delivery Graph August 2018

28

b

Level of Service Exceptions, Forecast Period Ending 31 August 2018

29

 

 

Signatories

Authors

Sung Jun Park - Performance Analyst

Monika De Neef - Senior Business Analyst

Approved By

Peter Ryan - Head of Performance Management

Carol Bellette - General Manager Finance and Commercial (CFO)

  


Finance and Performance Committee

03 October 2018

 

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Finance and Performance Committee

03 October 2018

 

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Finance and Performance Committee

03 October 2018

 

 

10.    Christchurch City Holdings Ltd - Annual Report 2017/18

Reference:

18/930006

Presenter(s):

Leah Scales, CFO, CCHL

 

 

1.   Purpose and Origin of Report

Purpose of Report

1.1       The purpose of this report is for the Finance and Performance Committee to note the Annual Report for Christchurch City Holdings Ltd (CCHL) for the year ending 30 June 2018.

Origin of Report

1.2       This report is staff generated. CCHL’s Annual Report was received once it had been released to the market and is no longer PX.

2.   Significance

2.1       The decisions in this report are of low significance in relation to the Christchurch City Council’s Significance and Engagement Policy.  The level of significance was determined by the extent to which the decisions are likely to impact the community.

 

3.   Staff Recommendations

That the Finance and Performance Committee recommends that the Council:

1.         Notes the annual results for the Christchurch City Holdings Ltd Group for 2017/18, including net profit after tax of $135.7 million which is a 7.3% return on shareholders’ equity.

 

4.   Key Points

4.1       The 2017/18 annual results for the CCHL Group were released to the market on Friday 14 September 2018, in accordance with the requirements of the Financial Markets Conduct Act 2013 and the NZX Debt market listing rules.  The Performance Report and Annual Report for the year ending 30 June 2018 are appended to this report at Attachments A and B respectively. 

CCHL Parent

4.2       The following table summarises the CCHL parent company’s financial transactions for the year:

Dividends from subsidiaries

 

$m

Net cost of interest less value gain on financial instruments

$m

Operating costs

 

 

$m

CCHL parent

NPAT

 

$m

Ordinary dividends paid

 

 

$m

Special dividend paid to Council

$m

SOI target dividend payable

 

$m

88.7

(11.9)

(3.9)

72.9

52.7

140.0

195.3

Notes to the table: 

·      operating costs are higher than usual due to costs associated with the debt placement in the market; and

·      the ordinary dividend paid by CCHL to the Council is lower than the SOI target by $2.6 million reflecting an offset for its subvention receipt that was forgone for cash flow purposes.

 

4.3       For the 2018/19 financial year, CCHL is forecasting to pay the Council an ordinary dividend of $48.3 million and special dividends of $143.2 million (total $191.5 million).

4.4       The value of CCHL’s main investments is reported at $2.7 billion, up from $2.6 billion in 2016/17.

CCHL Group

4.5       The CCHL Group’s consolidated 2017/18 financial results are shown in the table below:

ACTUAL NPAT      

2017/18

$m

RETURN ON AVERAGE EQUITY

2017/18

PRIOR YEAR NPAT

2016/17

$m

PRIOR YEAR RETURN ON AVERAGE EQUITY

FORECAST

NPAT SOI 2017/18

$m

135.7

7.3%

116.4

6.4%

80.7

NPAT is $19.3 million higher than last year due to an increase in the value of CIAL’s investment properties of $53 million, compared with $36 million in 2017.

Compared with SOI target, NPAT is $55 million higher, largely due to CIAL’s increased profitability (value gain on investment properties) ($44 million), Orion’s lower operating costs ($6.5 million) and record container volumes and lower operating expenses at Lyttelton Port ($3 million).  City Care’s expected profit of $4.6 million was lower by $5 million - a loss of $0.4 million.

 

CCHL Subsidiaries

4.6       The financial performance of CCHL’s subsidiaries is summarised in the table below.

CCHL Subsidiary

ACTUAL NPAT

2017/18

$m

PRIOR YEAR ACTUAL NPAT

2016/17

$m

FORECAST

NPAT SOI 2017/18

$m

Dividends paid to CCHL

2017/18

$m

Return on equity

 

Orion NZ

53.3

51.8

46.8

49.5

7.9%

NPAT is $6.5 million above SOI target and $1.5 million above last year, due in part to lower net operating costs as a result of a mild winter with no significant weather events.

Christchurch International Airport

88.7

64.6

44.5

 

29.4

9.6%

CIAL’s NPAT is $44.2 million above the SOI target and $24.1 million above last year due to a revaluation gain on investment properties of $53 million (before tax), $17 million higher than the previous year’s gain; and growth in passenger numbers to 6.87 million (2017: 6.57 million).  Excluding the before tax revaluation gains, CIAL’s NPAT was $5 million better than its SOI forecast.

Lyttelton Port

12.2

14.4

9.0

8.6

2.5%

LPC’s NPAT is $3.2 million above the SOI target and $2.2 million lower than last year.

Reduction in NPAT against last year reflects increasing cost pressure including impact of the industrial action which has more than offset additional revenues from record container volumes at the Port (424,560 TEUs compared with last year’s 401,711).  Against the SOI, NPAT is better than projected due to the increase in container volumes less the additional costs associated with the industrial action.


 

Enable

(3.8)

(8.5)

(7.4)

0

0

ESL has returned a loss that is $3.6 million lower (better) than the SOI target, and $4.7 million lower (better) than last year.  It completed its communal network build 18 months ahead of schedule and has achieved an increase of 53% in gross telecommunications revenue as a direct result of increasing demand for fibre broadband from the wider community.

 

CCHL Subsidiary (cont)

ACTUAL NPAT

2017/18

$m

PRIOR YEAR ACTUAL NPAT

2016/17

$m

FORECAST

NPAT SOI 2017/18

$m

Dividend paid

2017/18

 

$m

Return on equity

 

City Care

(0.4)

3.5

4.6

0.8

0

City Care’s NPAT is $5 million lower than the SOI target and $3.9 million lower than last year.  The company has continued to face increasing operational pressure as demand for its construction services in Christchurch has materially slowed.   

Red Bus Ltd

0.1

0.2

0.2

0

0

Red Bus’s NPAT is $0.1 million lower than both the SOI target and last year’s result.

The result reflects a trend towards visitors undertaking independent travel which has impacted on the profitability of Red Travel.

EcoCentral

0.4

0.9

0.7

0.25

4.5%

EcoCentral’s NPAT is $0.3 million lower than the SOI target and $0.5 million lower than last year.

The result includes some impact from China’s ban on importation of recyclable materials which has led to reduced commodity prices.  The full impact of the ban will be felt in the 2018/19 financial year offset by financial arrangements made between the Council, CCHL and EcoCentral. 

Development Christchurch

(0.3)

0.2

0

0

0

DCL has recorded revenue of $9.7 million and acquired assets valued at $12.7 million during the year.  Funding of $9.7 million from the Council was applied to the provision of commercial advice and operational overheads (up to $3 million), the New Brighton Playground ($6 million) and the New Brighton Regeneration Project ($1 million). 

4.7       CCHL has advised in its report that it has been working closely with EcoCentral, City Care and Red Bus to address challenging operating conditions that are currently prevailing for each.

4.8       The CCHL Group is benefitting from CIAL’s investment in land, with value gains recognised in NPAT.  This year’s $53 million gain accounts for 39% of the Group’s NPAT.

Non-financial performance

4.9       The single most important health and safety measure is the occurrence of incidents that require notification to WorkSafe, and of those incidents, those that are then subject to a WorkSafe investigation.  At half year, we reported a City Care incident was being investigated by WorkSafe.  CCHL advises that at year end it is not aware of any outstanding investigations. 

4.10    CCHL and its subsidiaries each have numerous non-financial performance targets, most of which have been met.  These can be reviewed in CCHL’s report at Attachment B.

 

    

 

Attachments

No.

Title

Page

a

CCHL Performance Report for 2017/18

39

b

CCHL Annual Report 2017/18

115

 

 

Confirmation of Statutory Compliance

Compliance with Statutory Decision-making Requirements (ss 76 - 81 Local Government Act 2002).

(a) This report contains:

(i)  sufficient information about all reasonably practicable options identified and assessed in terms of their advantages and disadvantages; and

(ii) adequate consideration of the views and preferences of affected and interested persons bearing in mind any proposed or previous community engagement.

(b) The information reflects the level of significance of the matters covered by the report, as determined in accordance with the Council's significance and engagement policy.

 

Signatories

Author

Linda Gibb - Performance Monitoring Advisor

Approved By

Len Van Hout - Manager External Reporting & Governance

Diane Brandish - Head of Financial Management

Carol Bellette - General Manager Finance and Commercial (CFO)

  


Finance and Performance Committee

03 October 2018

 

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Finance and Performance Committee

03 October 2018

 

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Finance and Performance Committee

03 October 2018

 

 

11.    Regenerate Christchurch - Quarterly Performance Report for period 1 April to 30 June 2018

Reference:

18/859741

Presenter(s):

Sue Sheldon, Chair of the Board of Regenerate Christchurch and Jason Rivett, Corporate Services Manager

 

 

1.   Purpose and Origin of Report

Purpose of Report

1.1       The purpose of this report is for the Finance and Performance Committee to recommend the Council notes Regenerate Christchurch’s performance for the period 1 April to 30 June 2018 and updated for key progress through to September 2018. 

Origin of Report

1.2       This report is staff generated following receiving Regenerate Christchurch’s Quarterly Status Report for the period 1 April to 30 June 2018. 

2.   Significance

2.1       The decisions in this report are of low significance in relation to the Christchurch City Council’s Significance and Engagement Policy.  The level of significance was determined by assessing the extent to which the decisions are likely to impact the community. 

 

3.   Staff Recommendations

That the Finance and Performance Committee recommends that the Council:

1.         Notes Regenerate Christchurch’s performance for the period 1 April to 30 June 2018, updated to include key progress made through to September 2018.

 

4.   Key Points

4.1       The joint Council/Department of the Prime Minister and Cabinet Quarterly Performance Report for the period 1 April – 30 June 2018 for Regenerate Christchurch is at Attachment A.  The report has been updated to reflect key progress made during the period 1 July – 30 September.  However, the financial information reflects Regenerate Christchurch’s final audited accounts for the year ending 30 June 2018. 

4.2       Regenerate Christchurch’s Quarterly Status Report for the quarter 1 April – 30 June 2018 is at Attachment B.  This report was prepared in July, and reflects information that was current at that date.  The financial information had not been audited at that time.

 

 

 

Attachments

No.

Title

Page

a

Joint Council/Department of the Prime Minister and Cabinet report for Regenerate Christchurch's quarterly performance for period 1 April to 30 June 2018

171

b

Regenerate Christchurch - Quarterly Status Report for period 1 April to 30 June 2018

180

 

 

Confirmation of Statutory Compliance

Compliance with Statutory Decision-making Requirements (ss 76 - 81 Local Government Act 2002).

(a) This report contains:

(i)  sufficient information about all reasonably practicable options identified and assessed in terms of their advantages and disadvantages; and

(ii) adequate consideration of the views and preferences of affected and interested persons bearing in mind any proposed or previous community engagement.

(b) The information reflects the level of significance of the matters covered by the report, as determined in accordance with the Council's significance and engagement policy.

 

Signatories

Author

Linda Gibb - Performance Monitoring Advisor

Approved By

Len Van Hout - Manager External Reporting & Governance

Diane Brandish - Head of Financial Management

Carol Bellette - General Manager Finance and Commercial (CFO)

  


Finance and Performance Committee

03 October 2018

 

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Finance and Performance Committee

03 October 2018

 

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Finance and Performance Committee

03 October 2018

 

 

12.    Development Christchurch Ltd - Quarterly Progress Report, September 2018

Reference:

18/887667

Presenter(s):

Rob Hall, Chief Executive, Development Christchurch Ltd

 

 

1.   Purpose and Origin of Report

Purpose of Report

1.1       The purpose of this report is for the Finance and Performance Committee to recommend that Council receives Development Christchurch Ltd’s (DCL) quarterly report, dated September 2018.

Origin of Report

1.2       This report is staff generated as a result of receiving DCL’s quarterly report.

2.   Significance

2.1       The decisions in this report are of low significance in relation to the Christchurch City Council’s Significance and Engagement Policy.  The level of significance was determined by assessing the extent to which the decisions could have an impact on the community.

 

3.   Staff Recommendations

That the Finance and Performance Committee recommends that the Council:

1.         Receives Development Christchurch Ltd’s quarterly report dated September 2018.

 

4.   Key Points

4.1       DCL has submitted its quarterly report for September 2018.  Issues that are commercially sensitive are addressed in its companion paper in the Public Excluded Agenda. 

4.2       The report notes DCL’s expectation that ECan would issue resource consents for the New Brighton Hot Salt Water Pools within two weeks from the date the report was written (early September).  Staff understand the consents have been issued.

 

 

 

Attachments

No.

Title

Page

a

Development Christchurch Ltd - Quarterly Report dated September 2018

185

 

 

Confirmation of Statutory Compliance

Compliance with Statutory Decision-making Requirements (ss 76 - 81 Local Government Act 2002).

(a) This report contains:

(i)  sufficient information about all reasonably practicable options identified and assessed in terms of their advantages and disadvantages; and

(ii) adequate consideration of the views and preferences of affected and interested persons bearing in mind any proposed or previous community engagement.

(b) The information reflects the level of significance of the matters covered by the report, as determined in accordance with the Council's significance and engagement policy.

 

Signatories

Author

Linda Gibb - Performance Monitoring Advisor

Approved By

Len Van Hout - Manager External Reporting & Governance

Diane Brandish - Head of Financial Management

Carol Bellette - General Manager Finance and Commercial (CFO)

  


Finance and Performance Committee

03 October 2018

 

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Finance and Performance Committee

03 October 2018

 

 

13.  Resolution to Exclude the Public

Section 48, Local Government Official Information and Meetings Act 1987.

 

I move that the public be excluded from the following parts of the proceedings of this meeting, namely items listed overleaf.

 

Reason for passing this resolution: good reason to withhold exists under section 7.

Specific grounds under section 48(1) for the passing of this resolution: Section 48(1)(a)

 

Note

 

Section 48(4) of the Local Government Official Information and Meetings Act 1987 provides as follows:

 

“(4)     Every resolution to exclude the public shall be put at a time when the meeting is open to the public, and the text of that resolution (or copies thereof):

 

             (a)       Shall be available to any member of the public who is present; and

             (b)       Shall form part of the minutes of the local authority.”

 

This resolution is made in reliance on Section 48(1)(a) of the Local Government Official Information and Meetings Act 1987 and the particular interest or interests protected by Section 6 or Section 7 of that Act which would be prejudiced by the holding of the whole or relevant part of the proceedings of the meeting in public are as follows:


Finance and Performance Committee

03 October 2018

 

 

 

ITEM NO.

GENERAL SUBJECT OF EACH MATTER TO BE CONSIDERED

SECTION

SUBCLAUSE AND REASON UNDER THE ACT

PLAIN ENGLISH REASON

WHEN REPORTS CAN BE RELEASED

14

Public Excluded Finance and Performance Committee Minutes - 5 September 2018

 

 

Refer to the previous public excluded reason in the agendas for these meetings.

 

15

Development Christchurch Ltd - Progress Report, September 2018

s7(2)(h), s7(2)(i)

Commercial Activities, Conduct Negotiations

The report includes updates on projects including negotiations and/or discussions with private parties.

When there are no longer valid grounds to withold the report under the Local Government Official Information and Meetings Act 1987.