Daily Archives: January 25, 2012

Dunedin City councillors, contact the ‘audit commission’ immediately

Councillors, gleaning from press statements and your preliminary discussion of the (draft) Annual Plan 2012/13—as relates to the Long Term Council Community Plan (LTCCP)—it appears that your chief financial officer has unilaterally committed the Dunedin City Council to a 40-year stadium debt plan – without your knowledge and vote of approval, with serious financial implications.

Whether this is true or not, you have a PROBLEM.

Agree to open the council books, and those of the related entities including DCHL, CST, DVL, and DVML, for a full independent forensic financial investigation, now.

Today:
http://www.odt.co.nz/news/dunedin/195506/surprise-over-stadium-debt-repayment

8.49am farsighted
http://www.odt.co.nz/news/dunedin/195506/surprise-over-stadium-debt-repayment#comment-26926

8.50am Anonymous
https://dunedinstadium.wordpress.com/2012/01/19/dcc-draft-annual-plan-201213/#comment-21018

10.01am wylja88p
http://www.odt.co.nz/news/dunedin/195506/surprise-over-stadium-debt-repayment#comment-26931

11.53am Anonymous
https://dunedinstadium.wordpress.com/2012/01/19/dcc-draft-annual-plan-201213/#comment-21027

3.37pm farsighted
http://www.odt.co.nz/news/dunedin/195506/surprise-over-stadium-debt-repayment#comment-26946

What if? Dunedin… post and comments on 40-year debt plan, see DCC Finance, Strategy and Development Committee (from 1.9.11 onwards)

Posted by Elizabeth Kerr

43 Comments

Filed under CST, DCC, DCHL, DVL, DVML

Waipori Fund – inane thinkings from a councillor

### ODT Online Wed, 25 Jan 2012
DCC could borrow from self
By David Loughrey
The Dunedin City Council will consider borrowing from its own almost $70 million Waipori fund, instead of using commercial lending institutions. The idea would be to provide regular income to the fund through interest, and produce a situation where the council would, in effect, be paying interest on its loans to itself.
Read more

### ODT Online Wed, 25 Jan 2012
Communities will have to help pay: Cull
By Chris Morris
Communities across Dunedin will need to do more to help pay for projects, as the Dunedin City Council grapples with tight finances threatening to curtail spending on key ventures, Mayor Dave Cull says. The warning came as councillors met in public yesterday for the start of a two-day meeting to discuss the council’s 2012-13 pre-draft annual and long-term plans. The early budgets forecast a 4.7% rates increase from July 1, but councillors were also grappling with a list of about 40 unfunded projects – including the proposed $11.5 million Mosgiel pool and a new South Dunedin library – yet to be included in the council’s spending plans.
Read more

Citizens and ratepayers are given the “pay up or shut up” treatment—councillors are “of a mind” to include some projects in council spending plans…

The top five projects, in order, were a new Maori consultation model, Ocean Beach erosion work, Caversham tunnel work, repairs to the St Clair sea wall, ramp and stairs, and a new council energy plan. [Added items] The council’s share of the Blueskin Bay library ($745,000) and priority parts of the strategic cycle network ($1.5 million over three years) in South Dunedin.

Further discussion at DCC draft annual plan 2012/13 and DCC living beyond its means [all spending and debt not declared]

Posted by Elizabeth Kerr

16 Comments

Filed under CST, DCC, DCHL, DVL, DVML, Economics, People, Politics