ORFU should be subject to full forensic investigation

The Trusts Charitable Foundation (TTCF Inc) ● The Trusts Community Foundation Ltd (TTCF Ltd) ● Otago Rugby Football Union (ORFU) ● Professional Rugby ● Centre of Excellence for Amateur Sport ● Harness Racing ● Department of Internal Affairs (DIA) ● Gambling Commission ● Pokies ● Rorts ● Organised Crime ● Serious Fraud ● Political Interference

In two words, pokie rorts.

### ODT Online Fri, 15 Mar 2013
ORFU back in black, but position still ‘fragile’
By Steve Hepburn
The Otago Rugby Football Union is back in the black – recording an operating profit of more than $200,000 – but has warned its financial position remains fragile. It is the first profit recorded by the union since 2005, but it says it is still spending too much on its ITM Cup team. The union, saddled with debts of more than $2 million, flirted with liquidation last year, and only stayed afloat through a rescue package and community support. A new board was appointed and will present its first annual report to the union’s annual meeting on Monday. The union’s financial results are subject to the approval of the clubs at the meeting.
Read more

Posted by Elizabeth Kerr

5 Comments

Filed under Business, CST, DCC, DCHL, DVL, DVML, Economics, Media, Name, ORFU, People, Politics, Project management, Property, Site, Sport, Stadiums

5 responses to “ORFU should be subject to full forensic investigation

  1. amanda

    I posted this to the ODT. Not sure if they will post it.
    “…Why is Mr Harvie so glum? If there is any trouble with the finances of the ORFU he can just go to council and Mayor Cull and fellow stadium supporting councillors will happily give him another bail out. No problem…”

    • NZRU is in multi-million dollar surplus, but hey DCC won’t figure the meaning of that – it can always send ORFU to Athol for a small donation from his leaving pay.

  2. Calvin Oaten

    Better still, send Athol to ORFU. He might be able to straighten them out. A few ‘Derivatives, some Interest Rate Swaps and a bit of Hedging’ should do it. Oh yes, a win or two by the Highlanders wouldn’t go amiss either.

  3. Anonymous

    Another shifty council deal which has the smells like the type of immoral decisions so frequently undertaken by Dunedin corrupt leaders. It seems Taupo has looked long and hard at this city council and thought, “What the heck – if they can do it, we can do it too!”

    Councillors yesterday approved an offer of $575,000 from Susan Stent, wife of former mayor Clayton Stent, for the two-bedroom house at 15 Te Moenga Park, Acacia Bay. […] The council originally bought the two properties in 2005 for $2.6m to build a proposed link road to access planned subdivisions. The economic downturn meant the road was never built.

    That old economic downturn chestnut.

    The councillor’s action certainly opens herself up to scrutiny. But I think the real issue there is likely who owned the two properties they bought for a million each and who signed off on it.

    Bugger the alleged breach of confidentiality. The person who released that information was working in the best interests of the city and should be rewarded for taking a stand.

    It’s a far cry from the scumbugs hiding in this council.

    ### Stuff Online Last updated 05:00 27/03/2013
    Council probes confidentiality breach over house
    By Mike Watson
    http://www.stuff.co.nz/business/farming/8476036/Council-probes-confidentiality-breach-over-house

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