Tag Archives: Rip-offs

Councillor pay + Remuneration Authority

ODT Mon, 22 Jun 2015 (page 8)

IMG_20150622_184100

Let’s see if there is any possibility that mayor and councillors are bloody well creaming it for little or no ratepayer benefit. Oops. As they have always done.

See DCC consolidated debt; debt per capita (ratepayers); and the stifling intergenerational debt stacked up by the two spendthrift councils: Chin’s and Cull’s.

Worse. How will RT earn his keep as DCC chair of Finance while he is greasing wheels as temporary deputy commissioner at SDHB…. does not compute.

Send a commissioner to DCC.

Posted by Elizabeth Kerr

19 Comments

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Harland to scale

  • Jim Harland and Sukhi Turner (via ODT 2.6.04) - supplied by Calvin Oaten 9.9.14
  • [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.

    Posted by Elizabeth Kerr

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

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    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:—

    Jim Harland [odt.co.nz re-imaged by whatifdunedin] 2### 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

    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.

    Posted by Elizabeth Kerr

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

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    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)

    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

    Posted by Elizabeth Kerr

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    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)

    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

    Posted by Elizabeth Kerr

    56 Comments

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