Executive, Audit & Risk Committee Tuesday 24 October 2017 10.00Am
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Executive, Audit & Risk Committee Tuesday 24 October 2017 10.00am Taranaki Regional Council, Stratford Executive, Audit & Risk Committee - Agenda Agenda for the meeting of the Executive, Audit & Risk Committee to be held in the Taranaki Regional Council chambers, 47 Cloten Road, Stratford, on Tuesday 24 October 2017 commencing at 10.00am. Members Councillor D L Lean (Committee Chairperson) Councillor M J Cloke Councillor M P Joyce Councillor D N MacLeod Councillor N W Walker Councillor C W Williamson Apologies Notification of Late Items Item Page Subject Item 1 4 Confirmation of Minutes Item 2 8 Financial and Operational Report Item 3 77 Quarterly Operational Report September 2017 Item 4 115 2017/2018 Insurance Programme Item 5 120 Asset Management Plans for the Lower Waiwhakaiho Flood Control Scheme, Lower Waitara River Flood Control Scheme and Okato Scheme Item 6 124 Asset Management Plans for Hollard Gardens and Tupare Item 7 127 Tapuae Roa - Make Way for Taranaki Item 8 133 Taranaki Stadium Trust 2016/2017 Annual Report Item 9 159 Regional Software Holdings Ltd Annual General Meeting and Annual Report for the year ended 30 June 2017 Item 10 191 Public Excluded 2 Executive, Audit & Risk Committee - Confirmation of Minutes Agenda Memorandum Date 24 October 2017 Memorandum to Chairperson and Members Executive, Audit and Risk Committee Subject: Confirmation of Minutes – 11 September 2017 Approved by: M J Nield, Director-Corporate Services B G Chamberlain, Chief Executive Document: 1948599 Resolve That the Executive, Audit and Risk Committee of the Taranaki Regional Council: 1. takes as read and confirms the minutes of the Executive, Audit and Risk Committee meeting of the Taranaki Regional Council held in the Taranaki Regional Council chambers, 47 Cloten Road, Stratford, on Monday 11 September 2017 at 10.00am 2. notes the recommendations therein were adopted by the Taranaki Regional Council on 18 September 2017. Matters arising Appendices Document #1929433 – Minutes Executive, Audit and Risk Committee 4 Executive, Audit & Risk Committee - Confirmation of Minutes Minutes of the Executive, Audit and Risk Committee Meeting of the Taranaki Regional Council, held in the Taranaki Regional Council Chambers, 47 Cloten Road, Stratford, on Monday 11 September 2017 at 10.00am. Members Councillors D L Lean (Committee Chairperson) M J Cloke D N MacLeod C S Williamson Attending Messrs B G Chamberlain (Chief Executive) M J Nield (Director-Corporate Services) Mrs R Johnson (Financial Services Manager) Mrs K van Gameren (Committee Administrator) Mr R Ritchie (Communications Manager) Apologies The apologies from Councillor M P Joyce and Councillor N W Walker were received and sustained. Notification of Late Items General Business – Yarrow Stadium 1. Confirmation of Minutes – 31 July 2017 Resolved THAT the Executive, Audit and Risk Committee of the Taranaki Regional Council: 1. takes as read and confirms the minutes of the Executive, Audit and Risk Committee meeting of the Taranaki Regional Council held in the Taranaki Regional Council chambers, 47 Cloten Road, Stratford, on Monday 31 July 2017 at 10.00am 2. notes the recommendations therein were adopted by the Taranaki Regional Council on 15 August 2017. Lean/Williamson Matters arising There were no matters arising. Doc# 1929433-v1 5 Executive, Audit & Risk Committee - Confirmation of Minutes 2. Financial and Operational Report 2.1 The memorandum to receive information on the operational and financial performance of the Council was noted and discussed by the Committee. The audit of the Council is running later than usual. Consequently, last year’s ledger has not been able to be closed in sufficient time to produce the July 2017 Monthly Financial Report. This will be presented to the next Committee meeting. There are no known financial issues for 2017/2018 to date. 2.2 As part of the preparation of the 2016/2017 Annual Report, a full review of all debtors has been completed. It is recommended to write-off one bad debtor (Soda Blast [Taranaki] Limited) for $641.49. The debtor has ceased trading and the company has been removed from the Companies Register. Recommended THAT the Taranaki Regional Council 1. receives the memorandum 2. approves the write-off of $641.49 due from Soda Blast (Taranaki) Limited 3. notes the digital media report 4. notes the Health and Safety report. Cloke/MacLeod 3. Public transport operational update for the quarter ending 30 June 2017 3.1 Mr M J Nield, Director-Corporate Services spoke to the memorandum providing the Committee with an operational report of the public transport services as at 30 June 2017. Recommended THAT the Taranaki Regional Council 1. receives and notes the operational report of the public transport services for the quarter ending 30 June 2017 Lean/Williamson 4. General Business Councillor M J Cloke provided an overview of the new corporate hospitality upgrade at the Yarrow Stand (Yarrow Stadium). Councillor Cloke noted that the new facilities were well appointed and well received by guests and visitors. 5. Public Excluded In accordance with section 48(1) of the Local Government Official Information and Meetings Act 1987, resolves that the public is excluded from the following part of the Executive, Audit and Risk Committee Meeting Monday 11 September 2017 6 Executive, Audit & Risk Committee - Confirmation of Minutes proceedings of the Executive, Audit and Risk Committee Meeting on Monday 11 September 2017 for the following reason/s: Item 6 – Confirmation of Confidential Minutes That the public conduct of the whole or the relevant part of the proceedings of the meeting would be likely to result in the disclosure of information where the withholding of the information is necessary to protect the privacy of natural persons and/or would be likely unreasonably to prejudice the commercial position of the person who supplied or who is the subject of the information. Item 7 - Port Taranaki Limited That the public conduct of the whole or the relevant part of the proceedings of the meeting would be likely to result in the disclosure of information where the withholding of the information is necessary to protect the privacy of natural persons and/or would be likely unreasonably to prejudice the commercial position of the person who supplied or who is the subject of the information. MacLeod/Lean There being no further business, the Chairperson, Councillor D L Lean, declared the Executive, Audit and Risk Committee Meeting closed at 10.35am. Confirmed Committee Chairperson: ___________________________________________________ D L Lean Date: 24 October 2017 Executive, Audit and Risk Committee Meeting Monday 11 September 2017 7 Executive, Audit & Risk Committee - Financial and Operational Report Agenda Memorandum Date 24 October 2017 Memorandum to Chairperson and Members Executive, Audit and Risk Committee Subject: Financial and Operational Report Prepared by: M J Nield, Director—Corporate Services Approved by: B G Chamberlain, Chief Executive Document: 1948824 Purpose The purpose of this memorandum is to receive information on the operational and financial performance of the Council and to confirm the use of the Council’s Common Seal. Recommendations That the Taranaki Regional Council: 1. receives the memorandum and the July and August 2017 Monthly Financial Reports 2. notes the digital media report 3. notes the Health and Safety report. Background The Council produces a Monthly Financial Report outlining the financial performance for the month and year to date. This memorandum supports the Monthly Financial Report by providing additional supporting operational and financial information. The Council operates its Common Seal under delegated authority. Part of that delegated authority is the reporting back of all Seal transactions. 1. Monthly Financial Reports Attached are the Monthly Financial Reports for July and August 2017. The format of the reports has been revised and updated. The aim of the review is to provide the information in more of a graphical or scoreboard style. In the “Financial Indicators Section”, for revenue, expenditure and operating surplus/deficit, for the whole of the Council the actual year to date (YTD) performance is compared against the YTD budget. A green variance indicates that the variance is within plus or minus 5%. A yellow variance indicates that the variance is greater than plus or minus 5% but less than plus or minus 10%. A red variance indicates that the variance is 8 Executive, Audit & Risk Committee - Financial and Operational Report more than plus or minus 10%. The arrow indicates the trend over time. A green up arrow indicates and improving trend and a red down arrow indicates a deteriorating trend. The financial performance pie graphs for operating expenditure and income show the actual performance against budget and the forecast performance against budget, accumulated for all activities. The green slice indicates the number of activities where the variance is within plus or minus 5%. The yellow slice indicates the number of activities where the variance is greater than plus or minus 5% but less than plus or minus 10%. The red slice indicates the number of activities where the variance is more than plus or minus 10%. The operational performance pie graphs for levels of service and individual activities show the actual performance against budget and the forecast performance against budget, accumulated for all activities. The green slice indicates the number of levels of service/activities where the actual performance is on target. The yellow slice indicates the number of levels of service/activities where the actual performance is at risk of not being achieved. The red slice indicates the number of levels of service/activities where the actual performance is not meeting the target. For each Group of Activities (Resource management, Biosecurity, Transport, Hazard management, recreation culture and heritage, and Regional representation, advocacy and investment management In the “Financial Indicators Section”, for revenue and expenditure, for that group of activities, the actual year to date (YTD) performance is compared against the YTD budget.