Tag Archives: Assets

Auditor-general Lyn Provost #Resign

Link + message received from Anonymous
Wed, 26 Nov 2014 at 11:53 p.m.

Message: What unbelievable crap from Lyn Provost, given her office (OAG) has brushed aside so many public complaints and concerns about Council expenditure that may have prevented the situation she now chooses to alert us all to !!!!

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### stuff.co.nz Last updated 12:39 26/11/2014
Lax councils $7 billion behind in infrastructure
–Dominion Post
Ratepayers are facing a $7 billion bill to replace crumbling roads and water pipes caused, in part, by the “worry about it later” attitude of councils. A report released yesterday by Auditor-General Lyn Provost found councils nationwide have been failing to put enough money aside to maintain their collective $100b of infrastructure assets. The gap between funds needed and reality is tipped to reach $6b to $7b by 2020. Much of the country’s infrastructure was built in two waves, from 1910-30 and 1950-86, and many assets would reach the end of their lives at the same time, the report warned.

“They are storing up a problem for future generations, ” said Bruce Robertson, assistant auditor-general in charge of local government. Will councils step up and deal transparently and effectively with these issues?”

Keeping rates bills down to maintain political popularity was one reason assets were underfunded, and a “worry about it later” mentality also existed, the report stated.[…] Local Government NZ president Lawrence Yule said a $7b shortfall was significant, but it was too early for ratepayers to be pressing the panic button. It was not yet clear how accurate the auditor-general’s findings were, he said.
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Note: These last years Lawrence Yule has been publicising how bloody good debt-funding council activities is. WTF

████ Report 7 Nov 2014:
Auditor-General’s overview and conclusions
Water and roads: Funding and management challenges

New Zealand has a good reputation internationally for managing assets because of the work of groups such as New Zealand Asset Management Support (NAMS). However, many local authorities’ asset management practices fall short of asset management guidance, such as that developed by NAMS. This report suggests that local authorities need to better understand the local economy to plan for the longer term and that their management of infrastructure and capital needs to improve to meet the challenges ahead. Full Report

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10.10.14 Cull consorts with losers at LGNZ
9.9.14 Mangawhai, Kaipara: Latest news + Winston Peter’s speech
26.8.14 DCC: Forensics for kids
6.8.14 DCC tightens policy + Auditor-General’s facetious comments
15.7.14 Stadium: Who is being protected?
26.6.14 LGNZ #blaggardliars
31.3.14 Audit services to … local bodies #FAIL ● AuditNZ ● OAG ● LynProvost
20.3.14 Delta: Report from Office of the Auditor-General
7.3.14 Jeff Dickie: Letter to the Auditor-General Lyn Provost
2.2.14 Stadium: ODT editorial (1.2.14) —Garbutt debunks myths
3.12.13 LGNZ: OAG report on Kaipara
28.5.13 Carisbrook: Auditor-General #fails Dunedin residents and ratepayers
21.4.13 Councils “in schtook” —finance & policy analyst Larry.N.Mitchell
31.3.13 DIA and Office of the Auditor General stuff up bigtime #pokierorts
6.3.13 Carisbrook: Cr Vandervis elaborates
15.2.13 Carisbrook: Call for OAG investigation into DCC / ORFU deals
22.11.12 Cull COVERS UP COUNCIL #massage

For more, enter the terms *dcc*, *dchl*, *dvml*, *citifleet*, *stadium*, *carisbrook*, *delta* in the search box at right.

Posted by Elizabeth Kerr

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DCC considers sale of “149 properties”

Tomorrow’s ODT carries carefully arranged details…

Kevin Taylor [odt.co.nz tweaked by whatifdunedin] 1blkKevin Taylor, City Property “good, bad and ugly” manager

Updated post 19.9.14 at 11:29 a.m.

### ODT Online Fri, 19 Sep 2014
$10m property sell-off possible
By David Loughrey
Houses, empty sections and parkland are among 149 parcels of property across Dunedin being considered for sale, as the city council looks to add $10 million to its coffers. The council released its “work in progress” list after a Local Government Official Information and Meetings Act request from the Otago Daily Times. […] Council infrastructure and networks general manager Tony Avery yesterday said the list was a starting point.
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News conferred last week:
█ Cr Lee Vandervis now sits on the DCC Audit and Risk Subcommittee. [ Minutes ]

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30.8.14 DCC Fraud: Cr Vandervis states urgent need for facts and the record…
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23.8.14 DCC public finance forum 12.8.14 (ten slides)
22.8.14 DCC: Deloitte report referred to the police #Citifleet
7.8.14 DCC issues shoddy treatment to Caledonian Bowling Club
● 30.7.14 Dunedin City Council | Consolidated council debt
● 28.4.14 DCC loses City Property manager in restructuring
24.1.14 Stadium: It came to pass… [stadium review]
14.10.13 DCC: New chief financial officer
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20.11.12 Dunedin City Council vs Anzide Properties decision…
9.6.12 City Property to compete more obviously in the market…

Posted by Elizabeth Kerr

*Image: odt.co.nz (tweaked by whatifdunedin) – Kevin Taylor blackened, a bit

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DCC pays out $millions to cover loss making stadium and professional rugby, yet…

### ODT Online Thu, 6 Sep 2012
Premium headache for city
By Chris Morris and Eileen Goodwin
Two of Dunedin’s biggest employers, the Dunedin City Council and the Southern District Health Board, face big hikes in insurance premiums as the ripple effects of the Canterbury earthquakes continue to spread. […] The council faced a 21% hike in premiums from $1.74 million to $2.1 million in the same period, just to maintain existing cover, it was confirmed yesterday. That still left $2.4 billion of infrastructure assets uninsured and the council facing a $362,000 shortfall in its insurance budget, council financial controller Maree Clarke said.

The council’s bad news was presented to yesterday’s finance, strategy and development committee meeting by Mrs Clarke and council insurance broker Peter Cromb. Mr Cromb’s company, Crombie Lockwood Risk Partners, had renegotiated insurance cover for the council in 2012-13 that was similar to the previous year’s. That meant buildings, plant and equipment were covered, but other infrastructure assets, including water pipes and bridges, remained uninsured.

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The report to FSD is not available online.

Related Posts:
16.7.11 Major Dunedin City Council infrastructure assets NOT INSURED
7.7.11 More than $1 billion of infrastructure assets NOT insured

LET’S BUILD A NEW STADIUM IN DUNEDIN – IT’S OUR FUTURE

Posted by Elizabeth Kerr

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Asset sales (would Dave’s council sell us up)

YOU BETCHA BUT NOT THE STADIUM, WHY NOT THE STADIUM, MALCOLM ALWAYS SAW IT AS A LEGACY, OH, NOT TO UPSET MALCOLM THEN, ANYWAY STUART SAYS THE WATER KEEPS FALLING OUT OF THE SKY

### 3news.co.nz Mon, 28 May 2012 7:00p.m.
Local councils under pressure to use asset sales
Assets sales are never far from the headlines, and always, it seems, controversial. The Government is pressing ahead with the partial sale of four state-owned energy companies and Air New Zealand. They made their plans clear during the elections and therefore claim a mandate to sell, but how far does that go? Because it’s no longer just state-owned assets being eyed for potential sale, local councils are under increasing pressure to consider asset sales to fund new projects and reduce debt. Auckland has already said no, and now Christchurch has suggested in a very polite fashion that central Government should sod off. The Christchurch Council and ratepayers face extraordinary costs following the earthquake, but the mayor is firm that there will be no sale of the family silver.
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Posted by Elizabeth Kerr

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Major Dunedin City Council infrastructure assets NOT INSURED

THE CRACKS ARE SHOWING

### ODT Online Sat, 16 Jul 2011
Assets of $2.4b not insured
By Chris Morris
The Dunedin City Council now faces a $2.4 billion hole in its insurance cover, after rejecting “huge” premium increases and dramatically reduced cover for above-ground infrastructure. The decision means roads, bridges, tunnels, viaducts and other pieces of critical infrastructure across Dunedin have also been left without insurance cover in the event of a natural disaster.

That was on top of the $1 billion in pipes and other underground infrastructure assets already left without cover on July 1, after council insurance brokers were unable to renew existing policies.

The latest loss of cover meant the city now had $2.4 billion worth of infrastructure assets without any form of insurance, council financial controller Maree Clarke confirmed late yesterday.
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Related Post:
7.7.11 More than $1 billion of infrastructure assets NOT insured

LET’S BUILD A NEW STADIUM IN DUNEDIN – IT’S OUR FUTURE

Posted by Elizabeth Kerr

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