AGENDA

 

Finance, Audit and Risk Committee Meeting

Tuesday, 12 May 2020

I hereby give notice that a Finance, Audit and Risk Committee Meeting will be held on:

Date:

Tuesday, 12 May 2020

Time:

9am

Location:

Tauranga City Council

By video conference

Please note that this meeting will be livestreamed and the recording will be publicly available on Tauranga City Council's website: www.tauranga.govt.nz.

Marty Grenfell

Chief Executive

 


Terms of reference – Finance, Audit & Risk Committee

 

 

 

 

Common responsibilities and delegations

 

The following common responsibilities and delegations apply to all standing committees.

 

Responsibilities of standing committees

·        Establish priorities and guidance on programmes relevant to the Role and Scope of the committee.

·        Provide guidance to staff on the development of investment options to inform the Long Term Plan and Annual Plans.

·        Report to Council on matters of strategic importance.

·        Recommend to Council investment priorities and lead Council considerations of relevant strategic and high significance decisions.

·        Provide guidance to staff on levels of service relevant to the role and scope of the committee. 

·        Establish and participate in relevant task forces and working groups.

·        Engage in dialogue with strategic partners, such as Smart Growth partners, to ensure alignment of objectives and implementation of agreed actions.

 

 

Delegations to standing committees

·        To make recommendations to Council outside of the delegated responsibility as agreed by Council relevant to the role and scope of the Committee.

·        To make all decisions necessary to fulfil the role and scope of the Committee subject to the delegations/limitations imposed.

·        To develop and consider, receive submissions on and adopt strategies, policies and plans relevant to the role and scope of the committee, except where these may only be legally adopted by Council.

·        To consider, consult on, hear and make determinations on relevant strategies, policies and bylaws (including adoption of drafts), making recommendations to Council on adoption, rescinding and modification, where these must be legally adopted by Council,

·        To approve relevant submissions to central government, its agencies and other bodies beyond any specific delegation to any particular committee.

·        To appoint a non-voting Tangata Whenua representative to the Committee.

·        Engage external parties as required.

 


 

Terms of reference – Finance, Audit & Risk Committee

 

 

 

Membership

Chairperson

Mr Bruce Robertson

Deputy chairperson

Cr Tina Salisbury

Members

Mayor Tenby Powell

Cr Jako Abrie

Cr Larry Baldock

Cr Kelvin Clout

Cr Bill Grainger

Cr Andrew Hollis

Cr Heidi Hughes

Cr Dawn Kiddie

Cr Steve Morris

Cr John Robson

Non-voting members

Tangata Whenua representative (TBC)

 

A maximum of two external appointments may be made by Council on recommendation from the Committee

Quorum

Half of the members physically present, where the number of members (including vacancies) is even; and a majority of the members physically present, where the number of members (including vacancies) is odd.

Meeting frequency

Six weekly

Role

·        To ensure that Council is delivering on agreed outcomes.

·        To ensure that Council is managing its finances in an appropriate manner.

·        To ensure that Council is managing risk in an appropriate manner.

Scope

·        Monitor financial and non-financial performance against the approved Long Term Plan and Annual Plan (Note: Council cannot delegate to a Committee the adoption of the Long Term Plan and Annual Plan).

·        Oversee the development of the council’s Annual Report.

·        Oversee the development of financial and treasury management strategies and policies.

·        Consider and approve external audit arrangements and receiving Audit reports.

·        Consider the outcome of internal and external audit reviews.

·        Advise Council on matters of finance and provide objective advice and recommendations for its consideration.

·        Advise Council on matters of risk and provide objective advice and recommendations for its consideration.

·        Consider matters which are related to quality assurance and internal controls in council and ensure the financial management practices and processes comply with the Local Government Act 2002, other relevant legislation and Council’s own policies.

·        Consider, monitor and recommend (where appropriate) in respect to Council’s financial interest in CCOs.

·        Consider all matters regarding the Local Government Funding Agency (LGFA).

·        Monitor key activities, projects and services (without operational interference in the services) in order to better inform the members and the community about key Council activities and issues that arise in the operational arm of the council.

Power to act

·        To make all decisions necessary to fulfil the role and scope of the Committee subject to the limitations imposed.

·        To appoint a non-voting Tangata Whenua representative to the Committee.

·        To establish working parties and forums as required.

·        For the avoidance of doubt, this Committee has not been delegated the power to:

o   make a rate;

o   borrow money, or purchase or dispose of assets, other than in accordance with the Long Term Plan.

Power to recommend

·        To Council and/or any standing committee as it deems appropriate.

 

 


Finance, Audit and Risk Committee Meeting Agenda

12 May 2020

 

Order Of Business

1         Apologies. 7

2         Public Forum.. 7

3         Acceptance of Late Items. 7

4         Confidential Business to be Transferred into the Open. 7

5         Change to Order of Business. 7

6         Declaration of Conflicts of Interest 7

7         Business. 8

7.1            Financial and Non-Financial Monitoring Report: Period ended 31 March 2020. 8

7.2            Financial Update - COVID-19. 83

8         Discussion of Late Items. 132

9         Public Excluded Session. 133

9.1            COVID-19 Pandemic - Risk Register 133

9.2            Litigation Report 133

9.3            Organisational change - Presentation (verbal) by Mr Michael Smith, Chairman, Bay Venues Limited. 134

 

 


1          Apologies

2          Public Forum 

3          Acceptance of Late Items

4          Confidential Business to be Transferred into the Open

5          Change to Order of Business

6          Declaration of Conflicts of Interest


Finance, Audit and Risk Committee Meeting Agenda

12 May 2020

 

7          Business

7.1         Financial and Non-Financial Monitoring Report: Period ended 31 March 2020

File Number:           A11391870

Author:                    Kathryn Sharplin, Manager: Finance

Authoriser:              Paul Davidson, General Manager: Corporate Services

 

Purpose of the Report

1.      The purpose of this report is to inform Council and the public of our financial and service level performance result for the first nine months of the financial year 2019/20 and provide an overview of resident perceptions. 

 

Recommendations

That the Finance, Audit and Risk Committee:

(a)     Receives Report Financial and Non-Financial Monitoring Report: Period ended 31 March 2020.

 

 

Executive Summary

2.      The full year financial projection at this stage is for an operating result unfavourable to budget by $5.4m, after initial analysis of the effect of the COVID-19 response.  Net debt at year end is projected to be $525m, less than the budget of $543m. The main risk to this projection is timing of capital spend and timing of payments on weathertight claims.

a)   Summary Statement of Comprehensive Revenue and Expense (Attachment 1) shows both operating expenditure and revenue behind budget. Revised full year forecasts have been presented showing that the full year forecast for net operating deficit is $22.4m, $5.4m unfavourable to budget and $6.8m unfavourable to the deficit forecast at the end of quarter two.

b)   The Treasury Report (Attachment 2) shows total net debt to 31 March 2020 of $480m with the full year forecast of $525m.

c)   The TCC Capital expenditure table (Attachment 3) identifies capital project budgets for the year by significant projects and other categories of expenditure. At this stage we are projecting capital delivery to be $48m below budget, noting that the budget includes an adjustment for non- delivery of $60m. 

d)   Capital Overspends table (Attachment 3) shows the projects forecast to be overspent this financial year, which currently total $24m.  $15.2m of this overspend is in relation to a timing difference in the Waiari programme. A memo to bring forward budget from 2020/21 is in preparation.

3.      Attachment 4 presents how Council and the community are tracking towards achieving Council’s non-financial performance measures and levels of service.

4.      Of the 151 non-financial performance measures, 124 have been measured and reported on. 73 measures (48%) are on track with 51 measures (34%) off track and 27 measures (18%) yet to be measured.

5.      Initial analysis of non-financial performance measures is that of the 51 measures off track, 22 measures have been affected by the impact of COVID-19. It is also likely that those 22 measures will not be met this financial year.

 

Background

6.      This report is for monitoring and reporting purposes showing Council’s financial and non-financial performance in delivering services to the community

7.      In a long-term plan (LTP), the level of service that the council will deliver is agreed upon by the council in consultation with the public.

8.      The Local Government Act 2002 stipulates that local authorities are required to report on how well they are performing in delivering these levels of service to their communities as measured by the non-financial performance Indicators.

9.      In the 2018-28 Long-term Plan there were 148 KPIs that were agreed upon (subsequent measures have also been added to increase total to 151 via this committee, no levels of services have been changed), 23 of which are mandatory measures as per section 261B of the Local Government Act.

10.    The budget to achieve the agreed level of service is set in the LTP.  Rates are set based on the agreed budget.

Strategic Context

11.    Maintaining expenditure within budget ensures delivery of services in a financially sustainable way.

12.    Monitoring non-financial performance is a key function of the committee.

DISCUSSION

Part 1: Financial Performance

13.    Attachments to this report provide a summary of Council’s financial performance for the year to date. The content of this report includes:

(a)     A summary of revenue and expenditure year to date with revised full year projections presented as a Statement of Comprehensive Revenue and Expense (Attachment 1).

(b)     The Treasury report which shows borrowing year to date and full year projections, the average cost of funds and money market investments benchmarked to average return (Attachment 2).

(c)     The Capital Programme spend to date and full year projections, also identifying key projects (Attachment 3).

14.    Forecasting to the end of the 2019/20 financial year (and into 2020/21) has been a focus since the beginning of COVID-19 Level 4 lockdown. The results of that work to date are included in the attachments to this report on operational and capital expenditure including forecasts, noting that the environment is very fast moving with assumptions changing frequently as new or updated information is received.

15.    Updates on projections, based on the effects of the COVID-19 response, will be included in the fortnightly Financial Update – COVID 19 report for this committee.

16.    The Statement of Comprehensive Revenue and Expenditure shows the operating and capital revenue and expenses in a format consistent with the Annual Report. It shows the year to date results for revenue and expenditure and provides a full year forecast.

17.    Operating revenue is now projected to be unfavourable to budget for the year by $11m. The largest variances between forecast and budget are as follows:

Activity

Variance

Comment

Airport

$(1.6)m

Lower than expected landing revenue exacerbated by COVID-19 response.

Water Supply

$(1.8)m

Forestry harvesting revenue (from the Oropi water catchment) deferred due to low prices and community consultation timeframes.

Parking

$(4.1)m

Forecasting little parking revenue for the remainder of the year; delayed opening of Harington Street carpark building; casual parking fees behind budget YTD.

Environmental Planning

$(0.7)m

Lower than budgeted consent numbers and starting to see the impact of reduced residential consents due to restricted land supply.

Building Services

$(1.3m)

Lower numbers of code of compliance applications and reduced charging of swimming pool inspections.

 

18.    Operating cost variances are favourable primarily due to lower depreciation on three waters infrastructure arising from last year’s asset revaluation which extended the useful life of some of our plant. Personnel expenses are $1.1m behind budget reflecting vacant positions across the business including Building Services and Environmental Planning. Due to these vacancies, contractor costs are running over budget.

19.    The Treasury Report (Attachment 2) shows total net debt to 31 March of $480m with the full year forecast at $525m (against a full year budget of $543m).  The lower expenditure on capital more than offsets lower revenue, including operating and capital revenue resulting in the lower forecast debt position.

20.    TCC Capital Expenditure (Attachment 3) summarises expenditure on the capital programme, identifying significant capital projects. The capital programme is tracking behind budget by $74m year to date which is 51% spent with 75% of the year gone.  Project delivery usually increases in later months however the impact of COVID-19 on capital expenditure is forecast to be substantial and we continue to refine these forecasts. At the time of writing, the forecast is $48m less than budget. For the most part, this variance can be considered a delay, or timing difference. We would therefore expect the unspent budget to be carried forward to 2020/21. (Note the capital budget at $203m includes a $60m underspend assumption).

21.    The Capital Overspends table (Attachment 3) identifies project overspends for the year totalling $24m.  The largest of these relates to the Waiari water supply programme of works and is a timing difference for which approval to bring forward budget from 2020/21 will be sought.

Part 3: Non-Financial Performance Measures

22.    Attachment 4 presents how Council and the community are tracking towards achieving Council’s non-financial performance measures and levels of service.

23.    Of the 151 non-financial performance measures (four measures were added in as part of the recommendation when this was last reported in November 2019), 124 have been measured and reported on. Data is not yet available for 27 measures.

24.    Of those that have been measured, 73 measures (48%) are on track with 51 measures (34%) off track.

25.    Of the 51 measures off track, 22 measures have been affected by the impact of COVID-19. It is also likely that these measures will now not be met this financial year.

26.    Where data is not available, the majority relate to annual measures which are only surveyed at one point through the year or to measures that have no current method of assessment.

Perceptions Monitor

27.    The Annual Residents’ Survey supports non-financial reporting by measuring the perceptions of residents regarding various aspects of services that Council provides.

28.    Each wave's mail out quotas are applied according to age, gender and ward, to ensure that a representative sample of Tauranga City’s population is achieved. The data is weighted to account for variances in the achieved quotas and to ensure that the sample reflects the population profile achieved.

29.    The overall results have an anticipated margin of error of +/- 4.6% at the 95% confidence level. Scores for 2018/19 and 2019/20 reporting periods exclude 'Don't know' responses.

30.    The results for 2019/20 wave 2 are interim and based on the sample of n=180. Data collection has taken place between 10 Feb and 16 March 2020.

31.    A summary of the highlights of the second wave are attached at Attachment 5. The summary helps provide an insight into how different elements of Council’s core service deliverables, reputation and the perception of value for money contribute to respondents’ perception of Council’s overall performance.

32.    The level of satisfaction (reputation measure) with Tauranga City Council in general has decreased from 66% in 2018/19 to 47% year-to-date. Reputation measures the community’s perception of four key areas – leadership, acting honesty/fairly, financial management and quality of services/facilities.

33.    Perceptions of each of the three drivers of overall performance have decreased:

a.   The perception of value for money, which is the major driver of the overall perception score, has dropped from 50% to 41% year to date. This has been driven by a decline in the perception that annual property rates are fair and reasonable.

b.   The second biggest driver, overall service and facilities, decreased from 72% to 64% year-to-date.

c.   Reputation has dropped from 46% in 2018/19 to 35% year-to-date.

34.    The final wave will be due to be reported in August with the draft annual report.

OPTIONS

35.    There are no options associated with this report. The report is provided as information only.

Significance

36.    Under the Significance and Engagement Policy 2014, the decision to receive this report is of low significance.  The decisions to approve the capital overspends are also of low significance as the size of the overspends do not reach a higher threshold.

Next Steps

37.    This report ensures monitoring of Council performance to ensure compliance with Council’s budgets, policies and delegations. 

Attachments

1.      Statement of Comprehensive Revenue and Expenditure - A11437048

2.      Treasury Overview - A11437050

3.      Capital Programme - A11437045

4.      Non-Financial Performance Measures - Q3 2020 - A11411310

5.      Tauranga City Council Dashboard 2019/20 Wave 2 Summary - A11411294  

 


Finance, Audit and Risk Committee Meeting Agenda

12 May 2020

 

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12 May 2020

 

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Finance, Audit and Risk Committee Meeting Agenda

12 May 2020

 

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Finance, Audit and Risk Committee Meeting Agenda

12 May 2020

 


 


 


 


 


 


 


 


 


 


 


 


 


 


 


 


 


 


 


 


 


 


 


 


 


 


 


 


 


 


 


 


 


 


 


 


 


 


 


 


 


 


 


 


 


 


 


 


 


 


 


 


 


 


 


 


Finance, Audit and Risk Committee Meeting Agenda

12 May 2020

 


 

 


Finance, Audit and Risk Committee Meeting Agenda

12 May 2020

 

7.2         Financial Update - COVID-19

File Number:           A11429123

Author:                    Kathryn Sharplin, Manager: Finance

Authoriser:              Paul Davidson, General Manager: Corporate Services

 

Purpose of the Report

1.      The purpose of this report is to provide an update on:

(a)     the short-term financial impacts of COVID-19 through to June 30, 2020.

(b)     Information affecting the 2020-21 annual plan.

(c)     Information on key areas of financial risk

2.      This report is a regular update on the financial situation as a result of COVID-19 and any other significant funding and financing outcomes.

Recommendations

That the Finance, Audit and Risk Committee:

(a)     Receives Report COVID-19 Financial Update

(b)     Notes that a formal report will be made to Council prior to a June Special General Meeting of the shareholders of the Local Government Funding Agency seeking approval to amend the net debt /total revenue foundation policy financial covenant.

 

 

Executive Summary

2019-20 Current Year

3.      Results for April are consistent with projections in the March quarterly report.  Overall revenue and capital expenditure are below monthly averages. 

4.      Cash Payments in April were higher than monthly average levels reflecting higher project expenditure and grant payments to the end of March, with May payments expected to be lower reflecting the lower activity in April due to the lockdown at Alert Level 4.

5.      Net debt is projected to be $525m at year end, with total external debt at about $550m. Currently 78% of total debt is at fixed interest rates.

6.      Average interest rates at 30 June are projected to be 3.7%-3.75% based on a mix of existing debt and new borrowing at rates between 1%-2.5% depending on duration. Wholesale rates have been very low since the Reserve Bank actions to lower the OCR to 0.25% and intervene in the wholesale market to lower long-term interest rates.

 

2020-21 Annual Plan

7.      Scenario analysis and capital project review for the annual plan is ongoing.

8.      An assumed reduction of 20-40% in business and housing-related revenue for the 2020-21 is being modelled for the annual plan. This is consistent with recent economic projections, along with review of the reduction in council’s housing-related revenue during the period of the Global Financial Crisis (GFC).

9.      The annual plan is modelled on borrowing continuing to be sourced from the Local Government Funding Agency (LGFA).

10.    The LGFA has announced that it will recommend at a June Special General Meeting of the shareholders of the Local Government Funding Agency to amend the net debt /total revenue foundation policy financial covenant.

 

Financial Risks

11.    To date there has been no significant indication of the extent of pressure likely on the collection of rates revenue next year. 

12.    Additional costs are likely to be incurred on capital projects due to the lockdown period and with the controlled work conditions required under alert level 3.  We are working through the financial implications for council associated with these costs.

 

Background

2019-20 Current Year

13.    Monitoring of the current financial year outcomes is continuing across revenue, operating and capital expenditure.

14.    Activities significantly affected by loss of operational revenue in April include council businesses closed during the lockdown eg, Tauranga Airport, Baycourt, Beachside, and parking activity, along with those activities with revenue from property leases where relief has been provided. Building and planning consent activities have not shown an immediate downturn in consent applications, which is assumed to be due to catch up from prior periods.

15.    Operating expenditure for April was also down $5m on average monthly payments, while capital expenditure in April was $10m, about $4m below the monthly average.

16.    Cash outflows to suppliers in April were $4m higher than the previous month, reflecting higher project expenditure in March and grant payments.  The lower expenditure levels identified for April will be reflected in May payments to suppliers.

17.    Interest rates remain low. Wholesale short-term interest rates have decreased in line with Reserve Bank’s interest rate (OCR) cut to 0.25%.  Long-term interest rates which would otherwise be more elevated have been lowered as a result of Reserve Bank intervention in the wholesale market. Interest rates on debt sourced from the LGFA range from 1% for one-year borrowing, to 2.5% for 13-year borrowing.

 

2020-21 Annual Plan

18.    Work is ongoing to assess the impacts of COVID-19 on activity revenue and costs for next financial year. 

19.    An assumed reduction of 20-40% in business and housing-related revenue for the 2020-21 is being modelled for the annual plan. This is based on recent economic projections, along with review of the reduction in council’s housing-related revenue during the period of the Global Financial crisis.  While April results in the building services activity do not support this reduction, it is anticipated that the reduction will occur as the recessional impacts of COVID-19 begin to show over the next few months.  This assumption is in line with the initial high-level estimate of revenue reduction for 2020-21.

20.    Council borrowing assumptions for the annual plan are based on continued funding through LGFA.  Currently, about 75%-78% of council borrowing is at fixed interest rates either from borrowing at fixed interest rates or from hedging with interest rate swaps.  Because of the high amount of fixed interest positions and current very low interest rates, the cost to terminate our fixed interest positions at this time would be high.  Attachment 1 contains more information on debt and interest risk management.

21.    The LGFA announced to the NZX on 4 May 2020 that it has reviewed the financial policy financial covenants.  It will recommend to shareholders at a Special General Meeting in June an amendment to the net debt/ to total revenue foundation policy financial covenant. Currently, local authority borrowers are required to maintain a net debt/ total revenue ratio below 250%.  The proposed changes enable a ratio up to 300% for the years to June 2021 and June 2022, reducing over subsequent years to 280% by 2026.  The details of the proposed amendment are included in Attachment 2.  The LGFA presentation supporting this proposal is included as Attachment 3.

22.    The amended ratios will come into effect if they are supported by a majority of shareholder councils at the June Special General meeting. Prior to that meeting a report will be prepared for council seeking approval for the proposed LGFA amendment, along with amendment to TCC treasury policy if required. 

23.    The proposed debt to revenue amendment would increase borrowing capacity as a one-off.  The annual plan capital programme would be able to be delivered within the 300% ratio, subject to assumptions on revenue loss and expenditure reduction. There will be an ongoing requirement in the LTP to increase revenue to support this higher borrowing as the debt to revenue ratio is required to reduce over the next few years, and capital expenditure has associated operational costs.

 

Financial Risks

24.    Monitoring of receipts and requests for rates assistance is ongoing. Discussions with ratepayers around rates collection are more likely to happen in July-August.  To date, we have not had significant communication with ratepayers about their ability to pay rates for next year. There has been no significant change to the amount collected in advance for next year under direct debit arrangements.  There have been a small number of people under payment arrangement asking to ease these payments.

25.    Additional costs are likely to be incurred on projects due to the lockdown period and with the controlled work conditions required under Alert Level 3.  Staff are working through the financial implications for council associated with these costs.

 

Strategic / Statutory Context

26.    COVID-19 represents a significant challenge to the financial sustainability and effectiveness of Council.  Regular update of the financial situation and risks enables Council to be informed and to take these matters into account in its key decision making, particularly in relation to the annual plan.

Options Analysis

27.    There are no options associated with this report. The report is provided as information only.

Significance

28.    Under the Significance and Engagement Policy 2014, the decision to receive this report is of low significance. 

Next Steps

29.    This report is intended to regularly update the FARC committee on Council’s financials and risks.  This information will also feed into the work on the annual plan 2020-21 that is ongoing.

30.    A report will be prepared for council to confirm support for the proposed amendment to LGFA financial covenants.

Attachments

1.      Debt and interest rate risk management 4 May 2020 - A11439515

2.      Attachment 2: NZX Announcement LGFA Proposed Change to Foundation Policy Covenant 04 May 2020 - A11450531

3.      Attachment 3: LGFA 5 May 2020 Investor Presentation - Proposed Changes to Foundation Policy - A11450545   


Finance, Audit and Risk Committee Meeting Agenda

12 May 2020

 

Attachment 1: Debt and Interest Rate Risk Management 4 May 2020

1.      Council’s external debt as at 30 April 2020 was $525m and forecast to be between $550m and $555m by 30 June 2020.  Net debt, which is adjusted for deposits, is projected to be $525m at 30 June.

2.      Average interest rate is forecast to be between 3.70% and 3.75% at 30 June 2020.  This average includes new borrowings and rate sets as well existing debt at higher rates.

3.      Current market interest rates on debt sourced from LGFA range from 1.0% for 1 year to 2.5% for 13 years. Current market interest rates for new borrowing is significantly lower as a result of the Reserve Bank cutting the Official Cash Rate to 0.25% and intervening in the wholesale market commencing last week to lower long-term interest rates.

4.      Currently 78% of the debt is at fixed interest rates, from 1 year to 13 years (longest dated borrowing - 15 April 2033). This percentage is a combination of borrowing at fixed rates ($85m) and hedging (balance approx. $310m).

5.      The fixed interest rate debt position is forecast to decrease to 75% by 30 June 2020 as a result of new borrowing.

6.      Fixed interest rate position on debt is achieved by issuing debt at fixed interest rates (currently at $85m) and undertaking hedging with interest rate swaps.  To terminate these fixed interest positions it would cost in the order of $75m or more.

7.      The table below shows the existing fixed interest rate position as at 30 April 2020:

1.                                    Month End

2.                                    Fixed Rate

3.                                    Month End

4.                                    Fixed Rate

5.           30 Jun 2020

6.           $399m

7.           30 June 2025

8.           $209m

9.           30 Jun 2021

10.        $360m

11.        30 June 2026

12.        $194m

13.        30 Jun 2022

14.        $311m

15.        30 June 2027

16.        $144m

17.        30 Jun 2023

18.        $283m

19.        30 June 2028

20.        $128m

21.        30 June 2024

22.        $283m

23.        30 June 2029

24.        $98m

 

 

 

8.      The table below shows the existing debt maturity profile as at 30 April 2020:


Finance, Audit and Risk Committee Meeting Agenda

12 May 2020

 

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Finance, Audit and Risk Committee Meeting Agenda

12 May 2020

 


 


 


 


 


 


 


 


 


 


 


 


 


 


 


 


 


 


 


 


 


 


 


 


 


 


 


 


 


 


 


 


 


 


 


 


 


 


 


 


 

   


Finance, Audit and Risk Committee Meeting Agenda

12 May 2020

 

8          Discussion of Late Items


Finance, Audit and Risk Committee Meeting Agenda

12 May 2020

 

9          Public Excluded Session  

RESOLUTION TO EXCLUDE THE PUBLIC

Recommendations

That the public be excluded from the following parts of the proceedings of this meeting.

The general subject matter of each matter to be considered while the public is excluded, the reason for passing this resolution in relation to each matter, and the specific grounds under section 48 of the Local Government Official Information and Meetings Act 1987 for the passing of this resolution are as follows:

General subject of each matter to be considered

Reason for passing this resolution in relation to each matter

Ground(s) under section 48 for the passing of this resolution

9.1 - COVID-19 Pandemic - Risk Register

s7(2)(b)(ii) - the withholding of the information is necessary to protect information where the making available of the information would be likely unreasonably to prejudice the commercial position of the person who supplied or who is the subject of the information

s7(2)(i) - the withholding of the information is necessary to enable Council to carry on, without prejudice or disadvantage, negotiations (including commercial and industrial negotiations)

s48(1)(a) - the public conduct of the relevant part of the proceedings of the meeting would be likely to result in the disclosure of information for which good reason for withholding would exist under section 6 or section 7

9.2 - Litigation Report

s7(2)(a) - the withholding of the information is necessary to protect the privacy of natural persons, including that of deceased natural persons

s7(2)(g) - the withholding of the information is necessary to maintain legal professional privilege

s7(2)(i) - the withholding of the information is necessary to enable Council to carry on, without prejudice or disadvantage, negotiations (including commercial and industrial negotiations)

s48(1)(a) - the public conduct of the relevant part of the proceedings of the meeting would be likely to result in the disclosure of information for which good reason for withholding would exist under section 6 or section 7

9.3 - Organisational change - Presentation (verbal) by Mr Michael Smith, Chairman, Bay Venues Limited

s7(2)(a) - the withholding of the information is necessary to protect the privacy of natural persons, including that of deceased natural persons

s48(1)(a) - the public conduct of the relevant part of the proceedings of the meeting would be likely to result in the disclosure of information for which good reason for withholding would exist under section 6 or section 7