Extraordinary Meeting of the Hawke's Bay Regional Council
Date: Wednesday 16 October 2019
Time: 2.00pm
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Venue: |
Council Chamber Hawke's Bay Regional Council 159 Dalton Street NAPIER |
Agenda
Item Subject Page
1. Welcome/Apologies/Notices
2. Conflict of Interest Declarations
3. Confirmation of Minutes of the Extraordinary Regional Council Meeting held on 9 October 2019
Decision Items
4. 2018-19 Annual Report Adoption 3
Wednesday 16 October 2019
Subject: 2018-19 Annual Report Adoption
Reason for Report
1. This report presents the Council with the 2018-19 Annual Report for adoption and authorises the signing of the Report.
2. The statutory deadline for the adoption of the Annual Report is four months after balance date, being 30 October 2019.
Background
3. The Regional Council “received and considered” an earlier version of the Annual Report at its meeting on 9 October 2019.
4. In the attached final version, a number of immaterial adjustments have been made to the numbers within the Financial Statements due to finalisation of audit queries. A small number of minor wording changes have also been made to the non-financial information at the request of Audit New Zealand.
Audit clearance
5. At the time of writing all audit queries received to date have been resolved, however, the final audit report has yet to be received from Audit New Zealand. It will be tabled at the Council meeting on 16 October 2019. Staff expect auditors may propose additional changes, which will also be tabled at the Council meeting on 16 October 2019.
6. A qualified audit opinion on Hawke’s Bay Regional Investment Company Ltd.’s (HBRIC) group accounts will flow through to the HBRC group accounts. The qualified audit opinion relates to non-disclosure by the Napier Port of 30 June 2019 financial statements due to timing and public disclosure implications for the Initial Public Offering (IPO) listing on the New Zealand Stock Exchange (NZX).
Next steps
7. Subsequent to Council adoption, and in line with Section 98 of the Local Government Act (the Act), the 2018-19 Annual Report will be printed for distribution and published on the Council’s website.
8. A summary document of the information contained in the Annual Report is also required under Section 98 of the Act. This does not need to be adopted by Council but is instead authorised by the Chief Executive (as in previous years). Audit New Zealand will complete its audit of the Summary once the full Annual Report has been signed-off. The audit focuses on whether the summary fairly and consistently represents the information regarding the major matters in the full Annual Report. The summary must be made publically available no later than one month from adoption of the full Annual Report.
9. An early version of the graphically designed Annual Report Summary was presented to Council for review at its meeting on 9 October. An updated version will be tabled at the Council meeting on 16 October for information purposes only.
Decision Making Process
10. Council is required to make every decision in accordance with provisions of Part 6, sub‑part 1 of the Local Government Act 2002 (the Act). Staff have assessed requirements of the Act in relation to this item and have concluded that as the Annual Report is a statutory report required to be adopted by Council no later than 30 October 2019 under Section 98 of the Act, the other decision making provisions do not apply.
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Recommendation That Hawke’s Bay Regional Council: 1. Receives the “2018-19 Annual Report Adoption” staff report. 2. Receives the Audit New Zealand audit opinion on the 2018-19 Annual Report. 3. Adopts the audited 2018-19 Annual Report as presented, with any minor editorial corrections as necessary. 4. Authorises the Chair and Chief Executive to sign the 2018-19 Annual Report on behalf of Council. 5. Instructs staff to publish the 2018-19 Annual Report in its final form, within one month of today in accordance with legislative requirements. |
Authored by:
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Strategy and Projects Leader |
Shash Davé Chief Financial Officer |
Approved by:
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Jessica Ellerm Group Manager Corporate Services |
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2018-19 Annual Report |
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