Audit and Finance Working Party Thursday 12 September 2019 at 8.30am

Audit and Finance Working Party

12 September 2019

Audit and Finance Working Party Agenda

Meeting to be held in the Whale Bay Room

36 Water Street, Whangārei

on Thursday 12 September 2019, commencing at 8.30am

Please note: working parties and working groups carry NO formal decision-making delegations from council. The purpose of the working party/group is to carry out preparatory work and discussions prior to taking matters to the full council for formal consideration and decision-making. Working party/group meetings are open to the public to attend (unless there are specific grounds under LGOIMA for the public to be excluded).

MEMBERSHIP OF THE Audit and Finance Working Party

Chairman, Councillor David Sinclair

Independent Financial Advisor, Mr Geoff Copstick

Councillor Bill Shepherd

Councillor Joce Yeoman

Item                                                                                                                                                                                   Page

1.0 apologies

2.0 declarations of conflicts of interest

3.0       Reports

3.1       Confirmation of Minutes

Attachment 1       Audit and Finance Working Party 7 August 2019 Minutes                        3

3.2       Audit Report

Attachment 1       Deloitte - Northland Regional Council year end report                              5

Audit and Finance Working Party ITEM: 3.1

12 September 2019Attachment 1

Audit and Finance Working Party Record of Actions

Meeting held in the Whale Bay Room

36 Water Street, Whangārei

on Wednesday 7 August 2019, commencing at 12.00pm

Present:

Chairman, Councillor David Sinclair

Independent Financial Advisor, Mr Geoff Copstick

Councillor Bill Shepherd

Councillor Joce Yeoman

In Attendance:

Full Meeting

Simon Crabb

Vincent McColl

The meeting commenced at 8.35am.

Apologies (Item 1.0)

NRC Chief Executive

DECLARATIONS OF CONFLICTS OF INTEREST (Item 2.0)

It was advised that committee members should make any declarations item-by-item as the meeting progressed.

1. Review of the 2018/19 Year-end Financial Agenda Items (Item 3.1)

Presented by: Councillor David Sinclair and Simon Crabb

Secretarial Note: 8.35 Phoned Dave Tams - GM Corporate Excellence to join the meeting.

Agreed action points:

·        Email out Monthly Investment Report from Jonathan Eriksen to Audit and Finance working party Councillors.

·        Operating cost reserve (OCR) name to be changed to Opex Funding Reserve to save confusion.

·        Review Terms of Reference regarding use of reserve funds.

·        Discuss with Jonathan Eriksen, what the market looks like for the year ahead.

·        Workshop – Council agenda best way forward MMH

·        Item 3.1 attachment 4 – Other Expenditure paragraph 3 more detail to be noted

·        Move forward and recommended actions noted on page 3.

1.    That the working party supports the content and recommendations in the attached draft agenda items.

2.    That the attached draft agenda items are finalised and presented to Council at the 20 August meeting.

Moved (Sinclair/Shepherd & Yeoman)

·      The committee acknowledge difficulties in the year given the volatility in the financial market and thank the finance team for their role in helping steer Council through it.

The meeting concluded at 1.00pm.

Audit and Finance Working Party ITEM: 3.2

12 September 2019Attachment 1