Carisbrook Stadium Trust costs

A 2009 cashflow report suggested the total trust and administration costs for CST for the project should be $3.7 million, but in the end they were $5.4 million. (PricewaterhouseCoopers)

### ODT Online Sat, 22 Feb 2014
Council payments to trust queried
By Debbie Porteous
A stadium opponent has questioned a series of historic administration cost payments from the Dunedin City Council to the trust in charge of the Forsyth Barr Stadium’s development. Bev Butler says it remains unclear what exactly the payments to the Carisbrook Stadium Trust (CST)*, mostly labelled ”trust costs”, were for. The payments, ranging from $40,000 to $80,000 a month, were made between 2007 and 2011.
Read more

*Properly known as the Carisbrook Stadium Charitable Trust (CSCT)

Related Post and Comments:
24.1.14 Stadium: It came to pass . . .

****

Malcolm Farry re-imaged [scene.co.nz] 1[back file]
### ODT Online Mon, 12 May 2008
Stadium Trust heads to regions
By Hamish McNeilly
Representatives from the Carisbrook Stadium Trust will venture south this week, hoping to persuade people to not only support the project – but also pay for some of the Awatea St stadium. Trust chairman Malcolm Farry said the tour would be an opportunity to discuss the project and detail some of the packages available. Read more

Posted by Elizabeth Kerr

*Image: scene.co.nz – Malcolm Farry (re-imaged by whatifdunedin)

38 Comments

Filed under Business, Construction, CST, DCC, Economics, Media, Name, New Zealand, People, Politics, Project management, Property, Site, Sport, Stadiums

38 responses to “Carisbrook Stadium Trust costs

  1. Carisbrook Stadium Trust (CST), was registered on 30 June 2008 as The Carisbrook Stadium Charitable Trust with the following trustees:

    Malcolm Saba Farry – Chairman of the Trust
    Ronald Douglas Anderson – Director/Shareholder of Arrow International
    Stewart Arthur Barnett – Businessman
    Arthur William Baylis* – Chartered Accountant
    Kereyn Maree Smith – currently CEO of the NZ Olympic Committee, previously CEO of the Academy of Sport and the Centre of Excellence for Amateur Sport
    John Francis Ward – Accountant of Invercargill and Chancellor of the University of Otago (resigned 8/9/09)
    Eion Edgar – Chairman of Forsyth Barr (appointed 8/9/09)

    *Businessmen Bill Baylis and Denham Shale undertook to review and make recommendations on the restructure of Dunedin City Holdings Ltd (DCHL) and the council companies, following on from release of the Warren Larsen Report (2012).

  2. I take it Carisbrook Stadium Trust (CST) has not been on top of its books for a very long time; nor has CST (through the vehicle of Malcolm Farry) been open to replying forthrightly to LGOIMA requests.

    Further, CST has not been transparent and accountable to Dunedin City Council when it should have been in the detail of invoicing and arrangements for schedular payments. We therefore must look to the mechanics and reasons for this.

    In turn, DCC has been the horrid blundering enemy. The council is ALWAYS less than accountable and transparent with ratepayer funds, its borrowing mechanisms and financial arrangements — the council as the eternal mushroom cloud sitting over the CST does place the charitable trust in a patch of light relief but only due to scale of ‘dissembling’ by the larger partner (the council receiving environment). This is no comedy act.

    That people are now grasping for paperwork, belatedly discovering the trail to back concerns raised in the PricewaterhouseCoopers report (2012), is to my mind the greatest sign that ALL is and has not been well in accounting and financial terms —particularly for the years, strongly underlined, of Jim Harland’s chief executiveship and Athol Stephens’ chief financial officership.

    Farry for CST is his own enigma, unfortunately for ALL.

    The fact that ALL (simultaneously) is not well at DVML… doubly, makes me think there’s ‘little right’ to be found for CST or indeed the Carisbrook Working Party (CWP) before it — through these entities, by succession, there have been individuals travelling by salary and or ‘reimbursed’ expense accounts and clipping tickets, let’s say in an ‘unseen’ manner, repeatedly.

    There has always been the call for a full forensic audit of CST. I surmise this should also apply to CWP and DVML, to determine how many millions of ratepayers’ hard-earned dollars in total have been treated as a SLUSH FUND.

    • Mike

      well, hmmm, yes CST is a Charitable trust, registered with the Charities commission …. they have to present their accounts every year …. let’s see, 2014? missing, 2013? missing, 2012? oh there they are, they still have $124,000 of our money in the bank, I wonder if it’s still there, they certainly haven’t been spending it on accountants

  3. Anonymous

    The money must be gone Mike. Otherwise the usual suspects would be posting vague invoices for $1,000 per day, plus printing costs, to mop it all up. It’s not in their nature to leave anything behind for anyone else, particularly when it comes to spending other people’s money.

    • Mike

      you may well be right, I look forward to seeing the missing financial return – in the mean time I hope the DCC will ask CST for their unused money back, and if it turns out it’s not there ask where it went

  4. Ted

    Wonder how many of the CST trustee dudes live in Dunedin.

    • Anonymous

      Good point Ted. I wonder how many of those who promoted building the stadium have since moved away from the district too. Likewise, I wonder how many of those businesses who supported it as part of that notorious two page spread have since closed. It probably wasn’t the future they were led to believe, particularly the small, loyal businesses who bought into the vision.

    • Ted, the most recent whereabouts:

      Malcolm Farry – Central Queenstown (retains house at St Clair, Dunedin)
      Ron Anderson – Braeside, Dunedin
      Stewart Barnett – St Albans, Christchurch
      Bill Baylis – Kelvin Heights, Queenstown
      Eion Edgar – Kelvin Heights, Queenstown (appointed 8/9/09)
      Kereyn Smith – Parnell, Auckland

      [John Ward – Rosedale, Invercargill (resigned 8/9/09)]

  5. Rob Hamlin

    The answer to that one Ted I think is just one – Anderson – the rest are long gone. Having read McPravda’s apology for an article on the CSCT’s lack of invoicing for the DCC, I would recommend that readers of this site read this article:

    http://www.rollingstone.com/politics/news/why-isnt-wall-street-in-jail-20110216

    It’s smaller and meaner here – but basically the same situation in my experience.

    • Thanks Rob.

      (Why Isn’t Wall Street in Jail? page 6)

      “All of this paints a disturbing picture of a closed and corrupt system, a timeless circle of friends that virtually guarantees a collegial approach to the policing of high finance.”

      “The mental stumbling block, for most Americans, is that financial crimes don’t feel real; you don’t see the culprits waving guns in liquor stores or dragging coeds into bushes. But these frauds are worse than common robberies. They’re crimes of intellectual choice, made by people who are already rich and who have every conceivable social advantage, acting on a simple, cynical calculation: Let’s steal whatever we can, then dare the victims to find the juice to reclaim their money through a captive bureaucracy.”

  6. ODT Online probably at the Thugby… must be a fair pile of comments lined up for approval by now on the CSCT invoice fiasco? (story relegated to page 4 in the tree edition and rolled down the online homepage from top billing to nearly out of sight by end of day)

  7. Gus

    I was wondering why the guy from the CSTdidn’t want his name mentioned. Did any of yous think of that?

  8. Gus

    Hi Liz. Me again. I seen that list of guys in the CST and seen 2 were accountents. Do you think they have the invoices and forgot to hand them in? l know what its like with my business. I chuck mine in a banana box and forget about it. Once me cats got in and thought it was kitty litter. Had to chuck them out coz l don’t think the ird would have apprecited it if l sent
    the invoices to them like that. What do yous think.

  9. Gus

    Thanks doll. Itry to do me best bit l didnt go to uni like them.

  10. Looks like comments at ODT Online are starting to roll, well one new comment… the University A rugby team won tonight. Expect more student couch fires and riots. Emergency services’ sirens in evidence, already.

    THANKS HARLENE

    (I guess you can’t hear it from the Lodge at St Leonards)

  11. tatts

    Hi Gus. Could you be the same Gus that was in D block with me down at Milton in 06 ?

    • Gus

      Nah not me tatts. D block was the one for nobs in suits weren’t it. Geez we hated those pricks. As bad as ones who goes after kiddies.

  12. tatts

    No that wasn’t D block Gus. That was da bosses office you should know, didn’t you spent a lot of time in there?

  13. Still no Comments at ODT Online – last night only one comment approved, for the Highlanders game. Better luck this afternoon. Hope no-one’s silencing the ODT.

    • Mike

      I think one has to give them the benefit of the doubt on a Sunday they should only be coming in to work just about now (midday)

      • Hype O'Thermia

        This is a long, long benefit of the doubt. Should someone go down there and check they’re not being held captive by one or more True Believer never-say-die stadium supporters? Look at their recent posts, I wouldn’t be surprised if some of them can’t handle the information that’s at last slowly oozing out of the some of the FUBAR pustules.
        Stand by with umbrellas for the day the whole abscess bursts

        • Mike

          (disclaimer: I once used to work for the local paper, I know the people who manage the online pages work part time, I don’t know whether they manage the letters directly or they go through someone else)

          well they’re a 6-day a week morning paper – they’re allowed a day off (which basically is Saturday) and start late during the day (because a morning paper goes to bed late in the previous evening).

          Since they’re working shift work (5 days out of 6) I expect that there are fewer of them in on a Sunday (partly that’s why Monday’s paper is so thin, with a large foreign news section, something that comes from elsewhere and can be put together easily in part ahead of time – this isn’t a bad thing, just understandable).

          On the other hand Elizabeth has a great point, why have none of the letters on that article shown up yet?

        • We can easily check who submitted a comment. I haven’t yet. Sometimes testy comments are delayed 12-18 hours (editorial check beyond the online editor) – or they’re withheld and binned outright.

  14. Peter

    Is it my imagination that the mantra of stadium apologists, ‘Let’s make the stadium work’ has been growing steadily dimmer?
    If so, it is hardly surprising. You can only say this for so long or else you start sounding silly.
    The next step is to take the ‘Oh well approach.’ Trouble is that won’t work either. The financial burden is too great to wring your hands, shrug your shoulders. The council would be best advised to not hide the truth, get it out there and let the momentum of public opinion decide its inevitable fate.
    Once they take on the burden of the perpetrators, and do not expose and demand accountability, they will go down with them.
    The council will earn brownie points by being on the side of good.

    • Peter, DCC is in too deep to be considered ‘good’ either now or retrospectively – the dollar sums in question across so many accounting lines are too great. Anonymous has always called for a commissioner – to shut down the traffic so to speak. The council is gravely on the skids – we’ve all known it for years now, the local authority facade is cracked and falling into the street faster than Lincoln Darling’s Dragon on Rattray. Hype’s umbrella message might need to be revised to steel superstructure with reinforced and braced sheet cladding.

  15. With the release of further comments we note the glaring omission of any comments responding to the CST trust story that heads this thread. This is no accident.

  16. Peter, that is an eminently sensible suggestion for council to consider. But that of course, leaves the matter of the debt attached to the confounded thing. If the people are to be left with this burden, but with no stadium (like it or not) there would have to be a total exposure of the whole ill project with accountability and naming and shaming at the very least. Compensation of some sort as well I would think. The people deserve no less.

  17. Anonymous

    Wow. It is q-u-i-e-t on that ODT story. There must be some serious vetting going on. I wonder how many of the posts are being sent to interested parties for “further comment”? Good to see at least a couple of posts have got through so far.

  18. amanda

    So it didn’t take long. A poster on the ODT site has called for assets to be sold to pay for Farry’s Folly. Wonder who will be the lucky ones to get these at no doubt bargain basement prices? With our council so very concerned about protecting stakeholders’ reputations, they may be able to have a second windfall.

  19. amanda

    And of course, the big asset waiting for the picking is water; no doubt the buyers will be ‘commerically sensitive’ and not revealed to Dunedin people.

  20. ### dunedintv.co.nz February 24, 2014 – 7:16pm
    Stadium proud of numbers despite opposition and projected losses
    The Forsyth Barr Stadium is crowing over numbers through its gates, as the DCC debates a projected $1.4m loss for the facility. Meanwhile, a stadium opponent is calling for reports from 2008 she says backed claims the stadium would run at a profit.
    Video

  21. le duc

    Saturday Evening Post(erised)? You’ve Norman Rockwelled Mr Farry.

  22. PAPER TRAIL ENQUIRY
    How is Malcolm Farry getting on with producing the paper trail for DCC, as per comments at ODT (22.2.14) – given CSCT has no staff, will he be using up (private sector funding) monies at bank* to pay someone to extract the documents? What are the other CSCT trustees doing to help out Malcolm ?

    I seem to remember former city councillor Leah McBey got fried (note the understatement) by the council for daring to enquire why CSCT was being paid by DCC, without CSCT providing invoices and receipts. Not so many moons ago, and Oh, here we are today. And there went Athol and Jim.

    *Wait. Why does “CSCT” have PSF at bank? What happened to donations from the private sector. Were they properly used and acccounted for? Again, Why does CSCT have PSF at bank?

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