From the good old days when ODT had a rival media outlet, remember this?
Since then (2011), has anything changed much? Waiting.
“The information regarding the funding shortfall from DCHL to council was not communicated to council in a timely manner (which) indicates seriously inadequate communication mechanisms,” Cull said. (Stuff)
### stuff.co.nz Last updated 18:39 29/07/2011
Financial crisis for Dunedin City Council
By Mike Houlahan and Wilma McCorkindale
Dunedin City Council is facing a financial crisis, with two internal reviews warning it faces a $8 million revenue shortfall. Dunedin Mayor Mayor Dave Cull was an angry man when breaking the news, saying “hard choices” would probably need to be made to rescue the city’s financial position.
At the heart of the city’s fiscal problem lies projected revenues from Dunedin City Holdings Limited – the council’s holding company, which oversees firms such as City Forests Ltd, Delta Utility Services and Aurora Energy Ltd.
DCHL has already had to borrow to deliver projected revenues to council. Cull warned that DCHL could become insolvent within a few years if it continued to pay council what was budgeted.
Here we are (2013). The shake-up at DCHL – new chairman, new directors – and indeed, new (DCC) councillors, new chief executive, new group chief financial officer, DELAYS the release of DCHL’s report due in July until the end of year… in time for council budget meetings in January. As the ‘too hard’ baskets go, Waiting.
### ODT Online Fri, 8 Nov 2013
DCHL report further delayed
By Chris Morris
Turnover at the top has again delayed a review of the Dunedin City Council’s group of companies, but the wait could soon be over, Dunedin City Holdings Ltd chairman Graham Crombie says. Mr Crombie told the Otago Daily Times the report – presenting the risk profile and options facing each of DCHL’s subsidiary companies – was likely to be ready for councillors by the end of the year.
Warren Larsen Report (February 2012) (PDF, 3.9 MB)
Governance review of all companies in which Dunedin City Council and/or Dunedin City Holdings Limited has an equity interest of 50% or more.
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7.7.13 DCHL changes lack transparency —where’s the report, Shale?
30.10.12 DCHL ‘run by a bunch of fools’ -agreed
13.8.11 Ridding DCHL of conflicts of interest, Otago business monopoly…
For more, enter *dchl* or *dcc* in the search box at right.
Posted by Elizabeth Kerr