DCHL —Which ‘Infinity’ were Councillors sold on #funnybusiness

ODT 13.10.16 (page 12)

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The published reply has no direct bearing on Russell Garbutt’s enquiry.

● INFINITY YALDHURST LIMITED (5886102)
Incorporation Date: 09 Feb 2016
Address for service:
Jackson Valentine Limited, Level 3, 258 Stuart Street, Dunedin 9016
http://www.companies.govt.nz/co/5886102

● INFINITY INVESTMENT GROUP HOLDINGS LIMITED (1004601)
Incorporation Date: 06 Dec 1999
Address for service:
Jackson Valentine Limited, Level 3, 258 Stuart Street, Dunedin 9016
http://www.companies.govt.nz/co/1004601

● INFINITY FINANCE AND MORTGAGE LIMITED (5920307)
Incorporation Date: 17 Mar 2016
Address for service:
Infinity Finance and Mortgage Limited, 12a Fovant Street, Russley, Christchurch 8042
http://www.companies.govt.nz/co/5920307

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Related Post and Comments:
22.9.16 DCC : Delta deal 1 Aug 2016 Council meeting (non-public) #LGOIMA

█ For more, enter the term *delta*, *dchl*, *infinity*, *noble* or *epic fraud* in the search box at right.

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Posted by Elizabeth Kerr

This post is offered in the public interest.

COMPLETE Dis-satisfaction with DCC, DCHL, DVML, DVL, Delta….

Fake it til you make it, and hey, don’t lift the marigolds.

Sorry Daaave, looks like a D for your council’s governance. —Actually, for the avoidance of euphemism, make that D- and lower for DIRE Performance, accompanying Drivel, and Diabolical treatment of Residents and Ratepayers in the aftermath of emergency situations.

Listening to Yes People and your dwindling voter base isn’t your best hope to resolve ongoing multimillion-dollar losses being sustained by a couple of the council-owned companies, to the point where the holding company led by chairman Crombie, fronts with a “qualified audit” only on presentation of its annual report(?) to Council.

[In July 2015 Graham Crombie was appointed to the Commerce Commission as an Associate Commissioner for a five year term.]

Damages to employment, liveability and opportunity in a No-growth city keep stacking.

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“It is also yet another example of good public service jobs being lost from our smaller towns and cities.” –PSA spokeswoman

### ODT Online Thu, 13 Oct 2016
ACC jobs to go in Dunedin
By Vaughan Elder
After consulting with staff since June, the decision had been made to relocate all the roles over the next 12 to 18 months to the larger Christchurch office and have “one centre for consistent customer and rehabilitation services across the Southern region”.
Read more

****

Asked about people who continued to be negative about the city, he said: “Negativity is an attitude, it’s not a fact.”

### ODT Online Thu, 13 Oct 2016
Survey ‘shows Dunedin on right track’
By Vaughan Elder
A survey showing Dunedin residents feel increasingly positive about their city shows the city is on the “right track”, Mayor Dave Cull says. […] the annual survey was not all good news. Last year’s June flood was picked as a reason for increasing dissatisfaction with the city’s stormwater system [down 13 points to 43%]. Satisfaction rates also fell when it came to public toilets, the suitability of the city’s roads for cycling and the availability of parks in the central city.
Read more

[Chief executive Sue Bidrose] said some of the areas where there had been negative results this year and in past surveys correlated to negative media coverage in the Otago Daily Times.

*1577 survey responses from 5400 residents randomly selected from the electoral roll,

The Talking Head (without helmet, unprepared)

█ Dunedin City Council (media release)
Residents’ Opinion Survey released 12 Oct 2016. Link

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Posted by Elizabeth Kerr

*Image: cdn.guardian.ng – marigold, tweaked by whatifdunedin

unGreater Dunedin blisters on #CouncilConsolidatedDebt #DCC

SHOCK HORROR NEW IDEA
‘Next council should consider placing higher priority on asset maintenance and renewal.’

### ODT Online Tue, 6 Sep 2016
Time for debt rethink, councillor says
By Vaughan Elder
A departing Dunedin city councillor has called for a fresh look at how quickly the city pays off debt as the council continues to eclipse repayment targets. In the wake of the council’s better than expected debt position, Cr Thomson said the new council should look at rethinking its financial strategy and discuss what an “appropriate level of debt would look like”.
Read more

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“[Thomson] said the council had outperformed its debt targets for a range of reasons….”

Not the Cull council – rather, the assiduous work of former DCC/DCHL GCFO Grant McKenzie and his disciplined finance staff.

No politicians can take credit.

Especially not ex Greater Dunedin moonbeams such as Cull, Staynes, Thomson and their young swaddling ‘babe in the woods’.

N O T E S

1. Health Board car park. “How could Swann drive a Lamborghini into the DHB’s car park and: “Park it next to the District Health Board Corollas,” without any questions being asked?” Link

2. Citifleet and Citipark. Considerably more than +152 council fleet vehicles “missed” from DCC in a much longer timeframe than ten years (2003-13).

3. Delta Utility Services Ltd – staff vehicles. [Today] See numbers of Delta vehicles everywhere you shouldn’t, inside and outside work hours, not in connection with programmed work or emergency.
Why ? Pray to god, why is DCC governance MIA ?

Undisciplined lowlights treating Public Funds like chickenfeed.

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Spendthrift mayor Cull and the motley majority of councillors (Greater Dunedin crackpots, as well as in their ghoulish afterglow…. with support from greenies Hawkins and Peat, and doughboy Benson-Pope), who in shambolic attendance to ‘governance’ have enormous trouble with accountability, prudence and transparency – sold Ratepayers down the “Swannee” again very recently in deciding a deal for Delta.

Without an ounce of diligence, councillors (except Crs Vandervis and Calvert – Cr Hall removed himself from the vote for some reason) accepted to rush the Delta decision for no reason, thanks to Cull, Thomson and Crombie, on Monday, 1 August 2016 – in so doing Cull’s council lost Ratepayers a further +$25million. No conscience.

If Cull is returned as mayor in 2016, Thomson’s replacement as chair of the Finance Committee is rumoured to favour Mike Lord (if indeed he himself is returned).

Note: Mike Lord sensibly left Greater Dunedin earlier than some.

Cr Thomson was inspired to make his parting comments after Cr Jinty MacTavish said the council should look at the possibility of reinvesting the money from asset sales into parks and recreation as opposed to automatically repaying debt.

“This is an excellent result and I think council can take considerable pride [from it],” Mr Cull said.

Did I mention the replacement cost of metal BTF tanks at Tahuna.
Another post….

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Posted by Elizabeth Kerr

Election Year. This post is offered in the public interest.

*Image: odt.co.nz – Richard Thomson, tweaked by whatifdunedin

DCC: DCHL/DVL/DVML limited half year result | Term borrowings $586.5M

Dunedin City Council – Media Release
Dunedin City Holdings Limited Half Year Result to 31 December 2014

This item was published on 27 Feb 2015

The Dunedin City Holdings group is reporting an improved profit after tax and higher operating cashflows in its half year result, compared to the same period last year.
For the six months to 31 December 2014, total revenue increased by 9%, to $128.3 million. This was due to strong income growth from across the group.
The profit after tax has increased 17% to $10.1 million from $8.7 million for the same period last year.
Cashflows generated by the operations of the group were $96.4 million which was $4.4 million higher than for the six-month period last year. Capital expenditure for the group was $4.1 million higher than at the same time last year.

Term borrowings (including the term debt due to mature within the next year) have decreased by $25.8 million to $586.5 million. These borrowings include debt held with the Dunedin City Holdings (DCHL) group, DCC operations and the Forsyth Barr Stadium companies as they all flow through Dunedin City Treasury Limited, a DCHL group company.

DCHL Chairman Graham Crombie says, “The first six month of this financial year have produced a pleasing result for the group. Cashflow within the group is strong, the profit is higher and debt has reduced. This is a good outcome for shareholders, the ratepayers of Dunedin.”

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Aurora Energy Ltd has had a good start to the financial year, being ahead in revenue and with a higher profit than last year. This is helped by higher demand at present in Central Otago due to additional irrigation activity.
Delta Utility Services Ltd profit is slightly down on last year, but revenue has continued to grow. Last year’s results were influenced by the discontinuation of some activities within the group.
Dunedin International Airport Ltd profit was up compared to last year. Changes in capacity at the Airport continue to be a challenge for the company.
Taieri Gorge Railway Ltd is performing better than at the same time last year. The tourism market has picked up. Some of this has been due to the timing of the cruise ship session being earlier this year than last.
City Forests Ltd profit for the first six month period has reduced. Log prices have fallen from the highs last year. The drop in the New Zealand dollar has assisted the company recently.

Dunedin Venues Ltd and Dunedin Venues Management Ltd do not form part of the DCHL reporting group. Their results, however, have also been released for the six month period.

Dunedin Venues Ltd trading was very close to its result for the same period last year. For Dunedin Venues Management Ltd, revenue was on budget for the first six months ($3.9 million) which was slightly down on same time last year ($4.1 million). The loss for the first six months was $1 million. The company expects to makes its budget for the full year.

█ The half year reports can be found at http://www.dunedin.govt.nz/dchl

Contact Chairman, Dunedin City Holdings Limited on 03 477 4000.
DCC Link

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Posted by Elizabeth Kerr

Harland to scale

[zoom text with Ctrl + and Ctrl -]

█ Ten years ago. Whoever typed THAT ?

—

Related Post and Comments:
8.9.14 Jim Harland and the stadium MESS
27.6.14 Stadium costs $23.4144 million per annum
2.6.14 Stadium costs ballpark at $21.337 million pa, Butler & Oaten
23.5.14 Stadium | DCC Draft Annual Plan 2014/15 ● Benson-Pope asserts…
9.5.14 DCC Draft Annual Plan 2014/15 Submission by Bev Butler
10.4.14 Stadium: Edgar’s $1m donation (private sector fundraising)

For more, enter the terms *harland*, *farry*, *malcolm*, *athol*, *stadium*, *dcc*, *cst*, *dchl*, *dvml*, *orfu* or *rugby* in the search box at right.

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Posted by Elizabeth Kerr

*Image: Jim Harland and Sukhi Turner (via ODT 2.6.04) – supplied by Calvin Oaten

Jim Harland and the stadium MESS

Meanwhile, as Mayor Dave Cull’s council keeps up with massive spending on low priorities and unnecessaries, this comes to light:—

### ODT Online Mon, 8 Sep 2014
Stadium budget help was declined
By Chris Morris
The Dunedin City Council declined an offer of specialist help to keep its Forsyth Barr Stadium budget on track, years before the cost jumped by millions of dollars, it has been confirmed. The decision, revealed in an Audit New Zealand report from 2010, has been criticised by Mayor Dave Cull, who said it was “a function of the attitude of the management and the executive at the time”. Former council chief executive Jim Harland defends the decision, saying the council’s oversight was felt at the time to be “appropriate”. The offer was detailed in the Audit NZ annual report to the council, dated December 2010, which covered the 12-month period to June 30 that year.
Read more

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The decision to build a debt-funded stadium – of which Jim Harland, Malcolm Farry, Athol Stephens, DCC stadium councillors, ORC stadium councillors, and professional rugby cronies are GUILTY – was ALWAYS the decision to bankrupt the Dunedin City Council but more especially, and insidiously, the ratepayers and residents of ‘greater’ Dunedin and Otago.¹

The Audit NZ offer was INANE and in any case a complete waste of time.
Audit NZ is what it is, a basket case. Of sheer incompetence and hypocrisy, nationwide.

Time for a full independent forensic audit of the Carisbrook Stadium Charitable Trust, fondly known as CST, headed by Malcolm Farry. This will also entail an intimate look at the way Dunedin City Council treated CST invoices, the Council’s spending delegations, and its chief signatories.

Let’s hope somebody goes to clink before the accounting games are over.
___________________________
¹Only now are Otago power users waking up to the fact of high line charges being levied by Aurora Energy Ltd to fund subvention payments to ‘the stadium’ (see recent letters to the editor in the Otago Daily Times).
Did the killer consolidated DCC think the people of Otago wouldn’t notice?

—

Related Post and Comments:
27.6.14 Stadium costs $23.4144 million per annum
2.6.14 Stadium costs ballpark at $21.337 million pa, Butler & Oaten
23.5.14 Stadium | DCC Draft Annual Plan 2014/15 ● Benson-Pope asserts…
9.5.14 DCC Draft Annual Plan 2014/15 Submission by Bev Butler
10.4.14 Stadium: Edgar’s $1m donation (private sector fundraising)

For more, enter the terms *harland*, *farry*, *malcolm*, *athol*, *stadium*, *dcc*, *cst*, *dchl*, *dvml*, *orfu* or *rugby* in the search box at right.

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Posted by Elizabeth Kerr

*Image: odt.co.nz (re-imaged by whatifdunedin) – Jim Harland

Stadium Review: dark yet rosy thoughts

ODT 28.8.14 (page 12)

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Posted by Elizabeth Kerr

Stadium costs $23.4144 million per annum

Received from Bev Butler
Thu, 26 Jun 2014 21:43:05 +1200

Cover note:
According to the latest DVL/DVML six monthly reports the debt is growing not reducing – that is a concern. The $146.6 million debt was passed over to DVL, many millions were poured into servicing the interest and capital repayments for this debt but even with that happening the combined short term/long term debt of DVML/DVL now stands at $157.6 million – $11 million more! The long term debt of $146.6 million has been reduced to $138.8 million but short term debt stands at $18.8 million. It is a major concern that the combined debt is growing not reducing – and this is during the stadium’s honeymoon period.

———

From: Bev Butler
To: Sue Bidrose; Sandy Graham; Kate Wilson; Richard Thomsom; Chris Staynes; John Bezett; Lee Vandervis; Hilary Calvert; Doug Hall; Andrew Whiley; Mike Lord; David Benson-Pope; Neville Peat; Andrew Noone; Jinty MacTavish; Dave Cull; Aaron Hawkins
CC: Calvin Oaten; Grant McKenzie
Subject: Stadium $23.4144 million per annum
Date: Thu, 26 Jun 2014 21:43:05 +1200

Dear Mayor Cull and Councillors

As a result of further discussions and more information obtained through further searching Council documents Calvin Oaten and I have updated the annual stadium costs which now stand at $23.4144 million. (See attached word document). No changes have been made to the spreadsheet I sent earlier which I prepared.
There are some costs which have not been included due to the difficulty in quantifying them to the accuracy of which I would be comfortable.

This $23.4144 million figure does not include any payments which may have not been fully transparent through the Council books.
By this I mean that I understand there were approaches by Darren Burden, former CEO of DVML, to obtain payments for bills which DVML were unable to pay but which another Council Department had shown some willingness to transfer their surplus unspent funds from that Department to DVML. In that particular case, I understand the transfer did not happen. However, I have no access to information as to whether this had occurred on previous occasions through other departments.

█ Also attached are Terry Wilson’s calculations coming from a different angle but which come to $23.1 million per annum. (See attached spreadsheet prepared by Terry Wilson).

Yours sincerely
Bev Butler

Downloads:
● FB Stadium=Annual Ratepayer Costs=V2 (PDF, 9.47 KB)
● Stadium Costs $23.4144 million per annum (DOC, 30.5 KB)

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Related Posts and Comments:
2.6.14 Stadium costs ballpark at $21.337 million pa, Butler & Oaten
23.5.14 Stadium | DCC DAP 2014/15 ● Benson-Pope asserts himself
9.5.14 DCC Draft Annual Plan 2014/15 Submission by Bev Butler

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Posted by Elizabeth Kerr

Stadium costs ballpark at $21.337 million pa, Butler & Oaten

Received from Bev Butler
Monday, 2 June 2014 4:10 p.m.

Message: During the presentation of my submission on the draft annual plan I was asked by Council to produce the figures to back up my claim that the stadium was costing approximately $20 million per annum. David Benson-Pope made a general statement questioning whether the claims in my submission were correct – though he didn’t elaborate when I asked him. I have followed up the Council’s request and the final figure is $21.337 million.

Please note there is a huge disparity between what the DCC has published in the Draft Annual Plan 2014/15 and what can be shown by the DCC’s own figures that are very difficult to find and interpret. The ratepayers should not continue to be kept in the dark – the real costs are more than double what is being published.

This has now been sent to the Mayor and Councillors.

Regards
Bev

————————————

From: Bev Butler
To: Sue Bidrose; Sandy Graham; Kate Wilson; Richard Thomson; Chris Staynes; John Bezett; Lee Vandervis; Hilary Calvert; Doug Hall; Andrew Whiley; Mike Lord; David Benson-Pope; Neville Peat; Andrew Noone; Jinty MacTavish; Dave Cull; Aaron Hawkins
Cc: Calvin Oaten
Subject: Stadium Cost $21.337 million per annum
Date: Fri, 30 May 2014 22:49:43 +1200

Friday 30 May 2014

Dear Mayor Cull and Councillors

Attached is a Word document prepared by Calvin Oaten outlining the annual stadium costs. The final figure of $21.337 million is based on figures sourced from and cross-referenced with DCC/DVML/DVL/DCHL documents.
Also attached is a spreadsheet, containing four spreadsheets, prepared by Bev Butler, showing the treatment of the $146.6 million portion of the stadium debt.

Yours sincerely
Bev Butler

Explanatory Note for Calvin Oaten’s Word document:
I have expressly not mentioned nor quantified costs of what I would term ‘collateral’ effects of the Stadium Project. These of course are very real additional financial burdens to the citizens. These are: the realignment of SH88, the forgiving of considerable debt owed the city by the Otago Rugby Football Union, the costs of the purchase and sale of Carisbrook including the holding of same in the interim period. And of course, the ongoing operational losses of DVML’s operations. These particularly are proving to be a continual drag on the financial conscience of the ratepayer. It seems that if council cannot, or will not bite the bullet and raise the “pay to use” level to at least a break even figure then professional rugby is destined to have the last laugh at our expense. It is simply not fair.
I remain, without prejudice
Calvin Oaten

Explanatory Notes for Bev Butler’s spreadsheets:
1. Sheets 1 & 2 titled “$117.541m” and “$29.059m” respectively outline the calculations for the two tranches of stadium debt outlined in the DVL six-monthly report, dated 31 December 2013. This report states that the $146.6m stadium debt has been divided into two tranches of $117.541m and $29.059m. The $117.541m is for a term of 17 years and the $29.059m is for a term of ten years with a weighted average of 6.05%pa. In the calculations I have assumed monthly compounding periods and assumed the first payment(s) were made between 30 June 2013 and 31 December 2013. If the compounding period is shorter then there would be a small reduction in the payments.
Note that in the DVL six-monthly report it states that a mortgage has been issued to pay for the two tranches. This is the first time this has been mentioned in the DVL reports so it is assumed that the mortgage was issued sometime between the last DVL Annual Report (YE 30 June 2013) and the DVL six-monthly report (31 December 2013). There is also mention of a GSA having been signed. I assume this is a General Security Agreement to secure the payment of the debt in the event of the stadium folding or the rental payments not being met. I acknowledge that I am unsure about this as I have no further information. Perhaps the Council staff could clarify this aspect.

2. Sheets 3 & 4 titled “$146.6m monthly” and “$146.6m weekly” respectively outline the calculations for the stadium debt had [regular repayments been made] from the time the stadium opened. It appears from the calculations and the DVL Annual Reports that this was not happening. If it was then the debt would have reduced to approximately $134 million. The DVL long term debt as of 31 December 2013 stands at $141.090m. So up until the mortgage was secured, it appears the debt repayments were for interest only on the bonds (and an average annual capital injection of $2m) which were issued to pay for the stadium land and other stadium debt.

[ends]

Downloads:
● Stadium Costs $21.337 million per annum (DOC, 30.2 KB)
● Stadium debt calculations FINAL (XLS, 59.3 KB)

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Related Posts and Comments:
9.5.14 DCC Draft Annual Plan 2014/15 Submission by Bev Butler
23.5.14 Stadium | DCC DAP 2014/15 ● Benson-Pope asserts himself

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Posted by Elizabeth Kerr

DCC Draft Annual Plan 2014/15 Submissions due by 15 April

### ODT Online Fri, 11 Apr 2014
Draft budget feedback pretty good: council
By Chris Morris
The Dunedin City Council says feedback on its draft budget has been “pretty good” despite some disappointing turnouts at public meetings in recent weeks. The council concluded a series of eight public meetings and drop-in sessions with a discussion of cycleway and road-widening work on Otago Peninsula at the Edgar Centre on Tuesday night.
Public submissions on the council’s 2014-15 draft annual plan were “flooding in now” and had reached 427 by late yesterday, council corporate planner Jane Nevill said. That was well above the 262 submissions received by the council on its 2013-14 draft budget.
Read more

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DRAFT DCC ANNUAL PLAN 2014/2015
The draft annual plan sets out the Council’s proposed annual budgets and performance measures for 2014/15 and updates the information for the 2014/15 year that in contained in the Council’s ten year plan or Long Term Plan (LTP) which was put in place last year.
Please tell DCC whether you agree or disagree with spending priorities for 2014/15 outlined in the draft plan by making a submission.
The consultation period is your opportunity to “Have Your Say” about what you want to see included in the Council’s plans.

█ Submissions close at 5pm, Tuesday 15 April 2014.
Timeframes and Meeting times

█ Read more (with downloads):
http://www.dunedin.govt.nz/your-council/draft-annual-plan-2014-2015

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Related Posts and Comments:
30.3.14 Paul Pope on local body annual plans
20.1.14 DCC Draft Annual Plan 2014/15

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Posted by Elizabeth Kerr

Paul Pope on local body annual plans

Is the Annual Plan like Christmas? Photo: Paul Pope

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Received.
Thursday, 20 March 2014 3:17 p.m.

http://paul-pope.co.nz/2014/03/20/is-the-annual-plan-like-christmas/
I wrote this on my personal political blog partly for my own amusement, you might find parts of it amusing also, though it does have a serious message regarding participation and scrutiny of the local government annual planning process. I’m trying to write more about issues in our area.
Regards

Paul Pope
Deputy Chair Otago Peninsula Community Board

Read Paul’s personal blog about life and issues on the Community Board at www.paul-pope.co.nz

****

DRAFT DCC ANNUAL PLAN 2014/2015
The draft annual plan sets out the Council’s proposed annual budgets and performance measures for 2014/15 and updates the information for the 2014/15 year that in contained in the Council’s ten year plan or Long Term Plan (LTP) which was put in place last year.
Please tell DCC whether you agree or disagree with spending priorities for 2014/15 outlined in the draft plan by making a submission.
The consultation period is your opportunity to “Have Your Say” about what you want to see included in the Council’s plans.

Submissions close at 5pm, Tuesday 15 April 2014.
Timeframes and Meeting times

Read more (downloads):
http://www.dunedin.govt.nz/your-council/draft-annual-plan-2014-2015

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Related Posts and Comments:
20.1.14 DCC Draft Annual Plan 2014/15

For more, enter the terms *draft annual plan*, *cull*, *cycle*, *dvml*, *hotel*, *stadium*, or *annual plan* in the search box at right.

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Posted by Elizabeth Kerr

DCC Draft Annual Plan 2014/15

Here come politics from Liability Cull (spendthrift) and performance checks on integrity and guts of new chief executive Sue Bidrose (spendthrift). For every project they personally endorse come cuts to core business (and frills); and ramped up service charges not yet mentioned —with, yes, a rates increase above the rate of inflation (or DCHL will enter another disguised arrangement to borrow money for DCC to artificially keep rates down, like happened last year). An exercise in bulldust is already underway —this is THE year of driving the overworked Spooks-slaves.

Note: Council consolidated debt last cited (Annual Report) as $623 million. In today’s news, $612 million. Where did the $11 million go?

—

Councillors could opt not to spend the $633,000, and keep rates at 2.5%, use the money to pay off debt, or invest it in areas designed to save more money over the longer term. –Cull

### ODT Online Mon, 20 Jan 2014
Spending cuts trim rates rise
By Chris Morris
The DCC cannot afford to be ”profligate” when attention turns to its next budget later this week, despite staff trimming millions of dollars of spending to cut the forecast rates increase to just 2.5%, Mayor Dave Cull says. Mr Cull and council chief executive Sue Bidrose were both full of praise for council staff, who had produced a forecast rates increase lower than the council’s goal of no more than 3% for the 2014-15 year.
Read more

Key numbers (via ODT)
Rates: Up 2.5% (target: no more than 3%)
Savings: About $3 million
Cash in hand: $633,000
Debt: $258.4 million (down $6.3 million) – DCC debt only; excludes companies/stadium.

Key dates
• Jan 23-24 (and Jan 27-29 if required): Council pre-draft annual plan public meetings.
• Feb 24: Council meeting to approve draft plan for consultation.
• March 15: Public consultation begins.
• April 15: Submissions close.
• May 7-9: Public hearing on draft plan submissions.
• May 14-16: Councillors’ draft plan deliberations.
• June 23: Council meeting to adopt annual plan and confirm rates.
• July 1: 2014-15 annual plan active.

****

The council’s consolidated debt – spread across the council and its companies – stood at about $612 million. However, the council’s share of that, excluding companies, was forecast to drop from about $264 million in 2013-14 to $258 million in the coming financial year. –Bidrose

### ODT Online Mon, 20 Jan 2014
Council set to crest debt summit
By Chris Morris
The Dunedin City Council looks set to reach the summit of its debt mountain and start paying it down over the other side. However, Dunedin Mayor Dave Cull and council chief executive Sue Bidrose have cautioned now was not the time for profligate council spending, and discipline would be needed for years to come.
Read more

The figures (via ODT)
DCC core debt forecast*

• 2013-14 $264.7 million
• 2014-15 $258.4 million
• 2015-16 $249.1 million
• 2016-17 $238.5 million
• 2017-18 $233.8 million
• 2018-19 $226.6 million
• 2019-20 $217.5 million
• 2020-21 $202.6 million
• 2021-22 $187.9 million

* Gross debt, excluding DCC companies.

—

Posted by Elizabeth Kerr

Highlanders “Buy Us” entertainment: Obnoxious, noxious PROFESSIONAL RUGBY —stay away DCC !!!

One other possible investor could be Dunedin Venues Management Ltd as a shareholding in the Highlanders would keep the side playing at Forsyth Barr Stadium for the foreseeable future. –Steve Hepburn

### ODT Online Wed, 11 Dec 2013
Rugby: ORFU keen to be stakeholder in privatised Highlanders
By Steve Hepburn
The NZRU said yesterday the Highlanders were being considered for privatisation next year. The Otago Rugby Football Union is keen to be a stakeholder in the southern franchise, but whether the union has the financial muscle to get involved is still open to question although any discussion is months away.
Read more

—

DVML is drowning in debt and is on shaky management ground (there is more to say about that in coming days).

ORFU is the entity DCC has continually ‘helped’ to the tune of hundreds of millions of dollars over a considerable number of years without qualification, openly, illicitly — without the required checks and balances in place to conservatively and prudently manage ratepayer funds — DCC has been the unsanctionable open chequebook of assistance to a fraudulent sporting regime.

No doubt Mr Mayor Rugby-is-Us Cull (with ex Cr Brown and the like pulling strings), the DVML Boys, and the money-laundering GOBs of Dunedin… will want to buy a rugby team. Because the GOBs/ORFU sure as hell did not buy the stadium – they connived and deceived to have it gifted by all ratepayers and residents such that the city council’s consolidated debt is $623 million and rising. They haven’t raised the (conditional) $45 million in private sector funding they promised to the stadium construction project. And now, they want MORE.

Disgusting.

█ ODT 11.12.13 A levelled playing field – the end of Carisbrook

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Posted by Elizabeth Kerr

DCC Annual Report 2012/2013

The annual report is now available at the DCC website and below.
It is provided by sections in .PDF format.

—

Standard & Poor’s
Standard & Poor’s Financial Services LLC, provides independent financial information, analytical services, and credit ratings to the world’s financial markets. For more information go to Standard & Poor’s.

● S&P Full Analysis Dunedin City Council (PDF, 321 KB)

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Annual Report Documents
Annual Report 2012/13 Full version (PDF, 1.2 MB)
Organisational and Financial Management Report, Significant Activities Report and Council NZIFRS Financial Statements

Annual Report 2012/13 Section 1 (PDF, 399.4 KB)
Organisational and Financial Management Report

Annual Report 2012/13 Section 2 (PDF, 448.8 KB)
Significant Activities Report

Annual Report 2012/13 Section 3 (PDF, 361.1 KB)
Council NZIFRS & Financial Statements

Annual Report 2012/13 Appendix (PDF, 172.6 KB)
Community Outcome Monitoring, Supplementary Information

Annual Report 2012/13 Summary (PDF, 531.8 KB)
Dunedin City Council Annual Report Summary

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OPEN MEETING ABOUT DCC FINANCES
When: Wednesday 27 November 5:30pm-7:00pm
Where: Meeting Room One, Municipal Chambers
ALL WELCOME – hosted by DCC Finance Committee

Related Posts:
23.11.13 DCC: Finance Committee [public forum] 27 November
17.11.13 DCC Finance Committee: Public meeting 27 November [INVITE]

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Posted by Elizabeth Kerr

Dear DCC: Dunedin’s [choke] $47M cycle network

Received from Lee Vandervis
Thursday, 18 July 2013 7:16 a.m.

—— Forwarded Message
From: Lee Vandervis
Date: Thu, 18 Jul 2013 07:09:10 +1200
To: Dave Cull, Mayor Cull, Kate Wilson, Colin Weatherall, Richard Thomson, Chris Staynes, Teresa Stevenson, Andrew Noone, Paul Hudson, Jinty MacTavish, Neil Collins, Fliss Butcher, Syd Brown, John Bezett, Bill Acklin, Lee Vandervis
Cc: Paul Orders, Sue Bidrose, Sandy Graham
Conversation: An inspiration for Cycling in Dunedin
Subject: Re: An inspiration for Cycling in Dunedin

Dear Councillors

This video link below to the Indianapolis new Cultural Cycle Trail has been sent to us by Mayor Cull as “an inspiration for Cycling In Dunedin”.

The salient points if you do not have 8 minutes to watch the whole video are:

1 – NO RATES OR TAX MONEY WAS USED TO PAY FOR IT! The whole US$63MILLION for the Indianapolis cultural trail was DONATED by philanthropy. [Like Eion Edgar’s $1 million donation to the stadium, but more so. – It actually happened, and 63 times.]

2 – It looks great with the ADDITION OF US$2MILLION of donated Art.

3 – From Wikipedia, – “Indianapolis’ population is 829,718. It is the 13th largest city in the United States, and one of the fastest growing metropolitan areas in the United States.”

4 – It is catering to only a few of their 800,000+, entirely financed by a much fewer hyper-rich philanthropists.

What does the Indianapolis Cycle Trail have in common with Dunedin’s proposed $47 million cycle network that our Mayor is getting all inspired about??

In short, nothing.
Absolutely nothing – a far removed and totally rich American dream.

Please do not be inspired to spend us even further into $600,000,000+ plus interest worth of debt for this ‘inspiration’.
The time to stop digging into more ratepayer debt was at least 3 years ago.

Cheers
Lee

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On 17/07/13 10:25 AM, “Dave Cull” wrote:

FYI
Spokes, and Hank and Robert in particular have been working very constructively with staff on the network plan. A great example of partnering up with the community. We are doing the same with the business people around Robert St to work out a win-win there too.

Dave

—————

From: Hank Weiss
Sent: Tuesday, 16 July 2013 4:58 p.m.
To: Dave Cull
Cc: Jinty MacTavish; Teresa Stevenson; Richard Thomson; Kate Wilson; Andrew Noone; Fliss Butcher
Subject: An inspiration for Cycling in Dunedin

Dave:

Here’s an 8 minute video, I hope you will consider sharing it with the rest of the Council. http://www.streetfilms.org/the-indianapolis-cultural-trail/

It’s a great idea and implementation success story from an unexpected U.S. City – Indianapolis. They turned the vision of an urban cycle track into a unique cultural celebration.

The best line: “We didn’t talk about this as an infrastructure project, we talked about it as a quality of life and an economic development project” (Brian Payne).

As you know very well, it’s not about catering to a few. With stories like this we might just swing and inspire all the Councillors along (well almost all)!

Thanks for being an inspiration yourself today, Dave. I am proud of the leadership on display from you and your colleagues.

—
Cordially,

Hank Weiss

—— End of Forwarded Message

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Related Posts and Comments:
8.7.13 Bloody $tupid cycleways and Cull’s electioneering . . .
28.3.13 DCC DAP 2013/14: Portobello Harington Point Road Improvements
26.2.13 DCC binge spending alert: Proposed South Dunedin cycle network
22.2.13 DCC: Council meeting agenda and reports for 25 February 2013
31.1.13 Who? 2010 electioneering

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Posted by Elizabeth Kerr

Bloody $tupid cycleways and Cull’s electioneering . . .

### ODT Online Thu, 4 Jul 2013
DCC propose to close Roberts Street
By Carolyn McLean
OPINION Once again the DCC is bulldozing over strong public opinion to push through a proposal, which will only benefit a minority of people.
DCC are proposing to close Roberts Street at the foot of the overbridge on Wharf Street to allow a cycle track to be installed and improve safety in the area.

This proposal will have an extremely adverse affect on all businesses in this area and it appears that the needs of business owners are being sacrificed to the needs of cyclists.

At present there is a perfectly adequate cycle track, which follows the harbourside and avoids the Portsmouth Drive/Wharf Street traffic, but DCC thinks that an alternative route for cyclists should be a reality and seem prepared to ignore the opinions of affected businesses to pursue their goal. At least two meetings have now been held between DCC representatives and local business owners but still the DCC seem hell-bent on pursuing their objective of more cycle lanes with no consideration of how it affects anyone else. Dunedin city is already in the doldrums with businesses struggling in the wake of the world-wide recession and flow on affects from that. DCC should be encouraging local businesses instead of putting more obstacles in their way. This proposal needs to be stopped.
ODT Link

● Dunedin Cycling Routes [see map]
● Proposed Cycle Network [see maps and related information at this link]

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Related Posts and Comments:
28.3.13 DCC DAP 2013/14: Portobello Harington Point Road Improvements
26.2.13 DCC binge spending alert: Proposed South Dunedin cycle network
22.2.13 DCC: Council meeting agenda and reports for 25 February 2013
31.1.13 Who? 2010 electioneering

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Posted by Elizabeth Kerr

*Images: odt.co.nz – Dunedin cycling (detail); dunedin.govt.nz – Strategic Cycle Network Overview (detail)