MINUTES OF AN EXTRAORDINARY MEETING OF THE FINANCE AND CORPORATE BUSINESS COMMITTEE

TO BE HELD ON MONDAY, 11 DECEMBER 2006 AT 1:32 PM

1. APOLOGIES

   That the apologies from Councillor Simpson for non-attendance and Councillors Leighton and Raffills for lateness be accepted.

   CARRIED

2. EXTRAORDINARY BUSINESS

   There was no extraordinary business.

3. RATES POSTPONEMENT AND EXTEND REBATE SCHEMES

   The General manager finance gave a presentation regarding issues to be considered during the meeting.

   [ATTACHMENT 3A]

   The chairman moved:

   1. That officers modify the rates postponement policy for financial hardship so that the qualifying criterion is based on entirely the ratepayer's equity in the property, which would make the scheme accessible to most ratepayers who own their own home, not just those experiencing financial hardship and that the requirement to pay the first $520 of rates is made optional.
   2. That it be noted that officers will finalise the details of the proposed rates postponement scheme and will report to the March 2007 Combined Committees with a draft rates postponement policy for inclusion in the draft Annual Plan.
   3. That the level of underspend for the rates rebate scheme in the 2006/2007 financial year be applied as a saving, currently estimated to be approximately $500,000.
   4. That officers report to the March 2007 Combined Committees about the level of the expected rates rebate scheme surplus for 2006/2007 and the required rates rebate budget for 2007/2008. Savings identified in this report will be redirected to other expenditure priorities.

   Councillor Hucker moved the following amendment:

   4. That the current rates rebate scheme be retained at $850,000 for the 2007/2008 budget.

   A division was called for, voting on which was as follows:

   For the Amendment:	Against the Amendment:
   Cr Neil Abel Cr Leila Boyle Cr Dr Cathy Casey Cr Bill Christian Cr Glenda Fryer Cr Dr John Hinchcliff Deputy Mayor Dr Bruce Hucker Cr Richard Northey	Cr D Armstrong Cr Toni Millar Cr Scott Milne Cr Graeme Mulholland Cr Noelene Raffills Cr Penny Sefuiva Cr Faye Storer His Worship the Mayor Cr Vern Walsh

   Cr Christine Caughey, Cr Linda Leighton and Cr Richard Simpson were absent.

   The amendment was declared LOST by 9 votes to 8.

   Councillor Raffills moved the following amendment:

   A. That officers modify the rates postponement policy for financial hardship so that the qualifying criterion is based on entirely the ratepayer's equity in the property, which would make the scheme accessible to most ratepayers who own their own home, not just those experiencing financial hardship.

   The above amendment was put by show of hands and declared LOST by 11 votes to 6.

   The Chairman put the following substantive motion:

   1. That officers modify the rates postponement policy for financial hardship so that the qualifying criterion is based on entirely the ratepayer's equity in the property, which would make the scheme accessible to most ratepayers who own their own home, not just those experiencing financial hardship and that the requirement to pay the first $520 of rates is made optional.
   2. That it be noted that officers will finalise the details of the proposed rates postponement scheme and will report to the March 2007 Combined Committees with a draft rates postponement policy for inclusion in the draft Annual Plan.
   3. That the level of underspend for the rates rebate scheme in the 2006/2007 financial year be applied as a saving, currently estimated to be approximately $500,000.
   4. That officers report to the March 2007 Combined Committees about the level of the expected rates rebate scheme surplus for 2006/2007 and the required rates rebate budget for 2007/2008. Savings identified in this report will be redirected to other expenditure priorities.

   CARRIED

4. REFUSE COLLECTION TARGETED RATE – FUNDING WASTE MINIMISATION INITIATIVES

   The chairman moved:

   1. That any large-scale residential blocks with an approved rubbish collection service be again allowed to opt out of Auckland City's rubbish collection service from 1 July 2007.
   2. That properties that opt out as per recommendation A. must pay the refuse collection targeted rate, but that a remission policy be introduced to remit the cost of Auckland City's rubbish collection service from their targeted rate. This would mean that those properties contribute only towards the cost of the council's waste minimisation services via the targeted rate.
   3. That it be noted that the draft remission policy referred to in Recommendation B. will be included in the draft 2007/2008 Annual Plan and amendments to the Long-term council community plan (LTCCP) for consultation along with changes to again allow large-scale residential blocks to opt out as per recommendation A.
   4. That it be confirmed that the refuse collection targeted rate will continue to fully fund the costs of Auckland City's refuse services, noting that the most recent calculations show the targeted rate will need to be set at approximately $191 per service for 2007/2008.

   Councillor Fryer moved the following amendment to D:

   4. That waste minimisation initiatives, monitoring and education around rubbish collections and further waste minimisation initiatives be funded out of the general rates for 2007/2008.

   A division was called for, voting on which was as follows:

   For the Amendment:	Against the Amendment:
   Cr Neil Abel Cr Leila Boyle Cr Dr Cathy Casey Cr Glenda Fryer Cr Dr John Hinchcliff Cr Richard Northey Cr Faye Storer	Cr D Armstrong Cr Christine Caughey Cr Bill Christian Deputy Mayor Dr Bruce Hucker Cr Toni Millar Cr Scott Milne Cr Graeme Mulholland Cr Noelene Raffills Cr Penny Sefuiva His Worship the Mayor Cr Vern Walsh

   Cr Linda Leighton and Cr Richard Simpson were absent.

   The amendment was declared LOST by 11 votes to 7.

   Councillor Northey moved the following amendment to D:

   4. That it be confirmed that the refuse collection targeted rate will continue to fully fund the costs of Auckland City's refuse services, noting that the most recent calculations show the targeted rate will need to be set at approximately $191 per service for 2007/2008 and that in compensation the Uniform Annual General Charge be reduced by the amount of the increase in the refuse collection targeted rate.

   The above amendment was put by show of hands and declared LOST by 12 votes to 6.

   The chairman put the following substantive motion:

   1. That any large-scale residential blocks with an approved rubbish collection service be again allowed to opt out of Auckland City's rubbish collection service from 1 July 2007.
   2. That properties that opt out as per recommendation A. must pay the refuse collection targeted rate, but that a remission policy be introduced to remit the cost of Auckland City's rubbish collection service from their targeted rate. This would mean that those properties contribute only towards the cost of the council's waste minimisation services via the targeted rate.
   3. That it be noted that the draft remission policy referred to in Recommendation B. will be included in the draft 2007/2008 Annual Plan and amendments to the Long-term council community plan (LTCCP) for consultation along with changes to again allow large-scale residential blocks to opt out as per recommendation A.
   4. That it be confirmed that the refuse collection targeted rate will continue to fully fund the costs of Auckland City's refuse services, noting that the most recent calculations show the targeted rate will need to be set at approximately $191 per service for 2007/2008.

   CARRIED

   Councillor Abel requested his vote against the motion be recorded.

5. THE RATING OF UTILITY NETWORKS

   The chairman moved:

   That it be confirmed that there will be no change to the current method of rating utility networks.

   Councillor Raffills moved the following amendment:

   2. That officers prepare work around incentives rather than disincentives for under grounding power.

   CARRIED

   The chairman put the following substantive motion:

   1. That it be confirmed that there will be no change to the current method of rating utility networks.
   2. That officers prepare work around incentives rather than disincentives for under grounding power.

   CARRIED

6. RURAL AND HAURAKI GULF ISLAND RATING ISSUES

   Mr T Bouzaid, Chairman of Great Barrier Community Board spoke on behalf of the board regarding rating issues for the Hauraki Gulf islands and Great Barrier island in particular.

   The chairman moved:

   1. That Mr T Bouzaid, Chairman of Great Barrier Community Board be thanked for his attendance.
   2. That it be noted that officers do not recommend any change to the differential policy for rural and Hauraki Gulf island properties.
   3. That officers prepare the following draft policies to be included for consultation in the draft 2007/2008 Annual Plan:

   1. a postponement policy for commercially farmed land
   2. a postponement policy for Great Barrier Island businesses
   3. a remission policy for private land voluntarily set aside for conservation purposes.

   4. That officers report to the March 2007 Combined Committees meeting on the impacts of the recommended policies and any implementation issues that may arise, including the draft policy wording for the Annual Plan.
   5. That officers report to the March 2007 Combined Committees meeting on the Manukau City system for rural ratepayers.

   Councillor Northey moved the following amendment:

   3. iv. a remission policy for all properties where there would otherwise be a rates increase of 100% or more per annum, where there has not been development, rezoning or change of use of the property concerned.

   The amendment was put by show of hands and declared LOST by 11 votes to 4.

   The chairman put the following substantive motion:

   1. That Mr T Bouzaid, Chairman of Great Barrier Community Board be thanked for his attendance.
   2. That it be noted that officers do not recommend any change to the differential policy for rural and Hauraki Gulf island properties.
   3. That officers prepare the following draft policies to be included for consultation in the draft 2007/2008 Annual Plan:

   1. a postponement policy for commercially farmed land
   2. a rates policy for Great Barrier Island commercial properties including postponements and differentials
   3. a remission policy for private land voluntarily set aside for conservation purposes.

   4. That officers report to the March 2007 Combined Committees meeting on the impacts of the recommended policies and any implementation issues that may arise, including the draft policy wording for the Annual Plan.
   5. That officers report to the March 2007 Combined Committees meeting on the Manukau City system for rural ratepayers.
   6. That it be noted that property owners have the right to request a revaluation of their property at any time under section 16 of the Rating Valuations Act 1998 and that this will be promoted.

   CARRIED

7. INTERGENERATIONAL EQUITY AND THE SUSTAINABLE DEBT POLICY

   The chairman moved:

   1. That it be noted that the 2006-2016 Long-term council community plan (LTCCP) forecasts a "core rates surplus" over and above operating expenditure plus depreciation of $44.7 million for 2007/2008 (and broadly similar levels in future years) which is used primarily to fund capital expenditure.
   2. That funding new works capital expenditure from current period rates revenues in the year assets are acquired or built places an unfair burden on current ratepayers and that this practice should be phased out.
   3. That the budgets for 2007/2008 and later years be amended for the draft 2007/2008 Annual Plan and ten year projections to phase out funding of capital expenditure from the "core rates surplus". Instead, capital expenditure that was to have been paid for by the surplus will be funded by borrowings, in doing so helping deliver improved intergenerational equity.
   4. That it be noted that a consequence of this change would be to significantly reduce rates increases over the next 30 years compared with those set out in the Long-term council community plan (LTCCP) (or implied beyond 2016 under the LTCCP policy settings), but to increase required rates revenues beyond 2036 (when all core council debt would otherwise be repaid under the LTCCP policy settings).
   5. That it be noted that this partial shift of the rates burden to future generations would enhance intergenerational equity while remaining financially prudent and sustainable over the long term.
   6. That it be noted that the above recommendations do not address the second intergenerational equity issue of paying twice for new assets financed with debt.
   7. That officers report to the March 2007 Combined Committee meeting, once the 2007/2008 budget and long term forecasts are updated, with:

   1. the recommended option to address the issue of paying twice for new assets financed with debt, along with draft policy wording.
   2. recommended forecast prudential limits to ensure ongoing financial prudence and flexibility over the very long term.
   3. recommendations about the implementation and phasing of the policy changes.
   4. the specific budgetary implication of these changes.

   8. That it be noted that the proposed amendments to the sustainable debt policy under recommendation G. will aim to ensure that:

   1. the funding of current period capital expenditure and principal repayments from the "core rates surplus" is set at the minimum level possible while ensuring conformance at all times with prescribed long term forecast prudential
   2. over the long term, capital expenditure that renews or replaces existing assets will be fully funded by the depreciation component of the council's revenues, without reliance on borrowing
   3. development contributions and the capital components of financial contributions and subsidies (eg: Land Transport New Zealand (LTNZ) transport subsidies) are dedicated to funding capital projects. Over the long term, these projects will be fully funded by capital revenues, without reliance on borrowing
   4. there is clarity about precisely when it is appropriate to use borrowings to fund operating expenditure and renewal capital expenditure.  While borrowing is not routinely used to fund this expenditure, there are some situations where short-term borrowing may be appropriate to address timing mismatches and to "smooth" the impact on rates.

   Councillor Milne moved the following amendment:

   That G.i. be deleted

   A division was called for, voting on which was as follows:

   For the Amendment:	Against the Amendment:
   Cr D Armstrong Cr Bill Christian Cr Linda Leighton Cr Toni Millar Cr Scott Milne Cr Graeme Mulholland Cr Noelene Raffills	Cr Neil Abel Cr Leila Boyle Cr Dr Cathy Casey Cr Christine Caughey Cr Glenda Fryer Cr Dr John Hinchcliff Deputy Mayor Dr Bruce Hucker Cr Richard Northey Cr Penny Sefuiva Cr Faye Storer His Worship the Mayor Cr Vern Walsh

   Cr Richard Simpson was absent.

   The amendment was declared LOST by 12 votes to 7.

   Councillor Armstrong moved the following amendment:

   7. v. the likely impact on council credit rating and the costs of a reduced credit rating.

   vi. on options of progressively introducing annual borrowing limits to ensure the City's full debt capacity is not taken up in a short timeframe.

   A division was called for, voting on which was as follows:

   For the Amendment:	Against the Amendment:
   Cr D Armstrong Cr Christine Caughey Cr Bill Christian Cr Linda Leighton Cr Toni Millar Cr Scott Milne Cr Graeme Mulholland Cr Noelene Raffills	Cr Leila Boyle Cr Dr Cathy Casey Cr Glenda Fryer Cr Dr John Hinchcliff Deputy Mayor Dr Bruce Hucker Cr Richard Northey Cr Penny Sefuiva Cr Faye Storer His Worship the Mayor Cr Vern Walsh

   Cr Neil Abel and Cr Richard Simpson were absent.

   The amendment was declared LOST by 10 votes to 8.

   The chairman put the following substantive motion:

   1. That it be noted that the 2006-2016 Long-term council community plan (LTCCP) forecasts a "core rates surplus" over and above operating expenditure plus depreciation of $44.7 million for 2007/2008 (and broadly similar levels in future years) which is used primarily to fund capital expenditure.
   2. That funding new works capital expenditure from current period rates revenues in the year assets are acquired or built places an unfair burden on current ratepayers and that this practice should be phased out.
   3. That the budgets for 2007/2008 and later years be amended for the draft 2007/2008 Annual Plan and ten year projections to phase out funding of capital expenditure from the "core rates surplus". Instead, capital expenditure that was to have been paid for by the surplus will be funded by borrowings, in doing so helping deliver improved intergenerational equity.
   4. That it be noted that a consequence of this change would be to significantly reduce rates increases over the next 30 years compared with those set out in the Long-term council community plan (LTCCP) (or implied beyond 2016 under the LTCCP policy settings), but to increase required rates revenues beyond 2036 (when all core council debt would otherwise be repaid under the LTCCP policy settings).
   5. That it be noted that this partial shift of the rates burden to future generations would enhance intergenerational equity while remaining financially prudent and sustainable over the long term.
   6. That it be noted that the above recommendations do not address the second intergenerational equity issue of paying twice for new assets financed with debt.
   7. That officers report to the March 2007 Combined Committee meeting, once the 2007/2008 budget and long term forecasts are updated, with:

   1. the recommended option to address the issue of paying twice for new assets financed with debt, along with draft policy wording
   2. recommended forecast prudential limits to ensure ongoing financial prudence and flexibility over the very long term
   3. recommendations about the implementation and phasing of the policy changes
   4. the specific budgetary implication of these changes.

   8. That it be noted that the proposed amendments to the sustainable debt policy under recommendation G. will aim to ensure that:

   1. the funding of current period capital expenditure and principal repayments from the "core rates surplus" is set at the minimum level possible while ensuring conformance at all times with prescribed long term forecast prudential
   2. over the long term, capital expenditure that renews or replaces existing assets will be fully funded by the depreciation component of the council's revenues, without reliance on borrowing
   3. development contributions and the capital components of financial contributions and subsidies (eg: Land Transport New Zealand (LTNZ) transport subsidies) are dedicated to funding capital projects. Over the long term, these projects will be fully funded by capital revenues, without reliance on borrowing
   4. there is clarity about precisely when it is appropriate to use borrowings to fund operating expenditure and renewal capital expenditure. While borrowing is not routinely used to fund this expenditure, there are some situations where short-term borrowing may be appropriate to address timing mismatches and to "smooth" the impact on rates.

   A division was called for, voting on which was as follows:

   For the Motion:	Against the Motion:
   Cr Neil Abel Cr Leila Boyle Cr Dr Cathy Casey Cr Christine Caughey Cr Bill Christian Cr Glenda Fryer Cr Dr John Hinchcliff Deputy Mayor Dr Bruce Hucker Cr Richard Northey Cr Penny Sefuiva Cr Faye Storer His Worship the Mayor Cr Vern Walsh	Cr D Armstrong Cr Linda Leighton Cr Toni Millar Cr Scott Milne Cr Graeme Mulholland Cr Noelene Raffills

   Cr Richard Simpson was absent.

   The motion was declared CARRIED by 13 votes to 6.

8. UPDATE ON BUDGETS FOR 2007-2008

   The chairman moved:

   1. That officers report to the March 2007 Combined Committees meeting on a draft 2007/2008 budget confirming the total requested increase in net operating expenditure, having regard for any decisions made by councillors that relate to any changes to Auckland City's sustainable debt policy on the overall rate increase.
   2. That officers report separately to the February 2007 Finance and Corporate Business Committee on the following initiatives:

   1. new service level requests by officers (including such activities as school travel plans and funding mega events)
   2. commercial town centre cleaning
   3. broadband and council portal
   4. Aotea precinct (including the Town Hall and new theatre initiative)
   5. grant assistance to NZ Bio/Auckland, Auckland Philharmonia Orchestra, Auckland Festival Trust, Stardome Observatory, Auckland Netball Centre and major concerts in the Auckland Domain.

   3. That councillors note that the initial projection for the capital programme in 2007/2008 is an increase of $27 million, but that officers will confirm the changes in a report to the March 2007 Combined Committees meeting.

   Councillor Millar moved the following amendment:

   4. That the officers reports include graphs and charts to show cumulative rates increases since 2000 projected to 2056 and the impact of suggested policies for example borrowing, and an indication of rate increases if the change to debt policy was not adopted.

   LOST

   The chairman put the following substantive motion:

   1. That officers report to the March 2007 Combined Committees meeting on a draft 2007/2008 budget confirming the total requested increase in net operating expenditure, having regard for any decisions made by councillors that relate to any changes to Auckland City's sustainable debt policy on the overall rate increase.
   2. That officers report separately to the February 2007 Finance and Corporate Business Committee on the following initiatives:

   6. new service level requests by officers (including such activities as school travel plans and funding mega events)
   7. commercial town centre cleaning
   8. broadband and council portal
   9. Aotea precinct (including the Town Hall and new theatre initiative)
   10. grant assistance to NZ Bio/Auckland, Auckland Philharmonia Orchestra, Auckland Festival Trust, Stardome Observatory, Auckland Netball Centre and major concerts in the Auckland Domain.

   3. That councillors note that the initial projection for the capital programme in 2007/2008 is an increase of $27 million, but that officers will confirm the changes in a report to the March 2007 Combined Committees meeting.

   CARRIED

9. ANNUAL REVALUATIONS

   That the interval between revaluations be maintained at three years.

   CARRIED

10. FUNDING MECHANISMS FOR FUTURE PERFORMING ARTS PRODUCTIONS AND COMMERCIAL MUSICAL THEATRE

    This item was moved to the confidential section as item C2. to protect information where the making available of the information would disclose a trade secret.

11. AUCKLAND FESTIVAL TRUST – REQUEST FOR ADDITIONAL OPEX GRANT 2007/2008 AND 2008/2009

    1. That the decision on whether to approve additional funding for the Auckland Festival Trust for the 2008 and 2009 years be deferred until after the Auckland Festival AK07, noting that the proposed Auckland Regional Amenities Funding Bill 2006 may remove the need for Auckland City to commit to extra funding.
    2. That when officers report back to the Arts, Culture and Recreation Committee in mid 2007 on the outcomes of the Auckland Festival, AK07, details of the progress of the proposed Auckland Regional Amenities Funding Bill 2006 be provided together with a recommendation regarding whether increased funding should be considered.

    CARRIED

12. NEW THEATRE INITIATIVE – REQUEST FOR ADDITIONAL OPEX GRANT 2007/2008 AND SUBSEQUENT YEARS

    1. That the significant progress that New Theatre Initiative has made this year towards achieving the new Flexiform theatre is recognised, particularly the large contribution from volunteers and others, and further recognised, that in order to progress the project to the next level, further support is required from funders such as Auckland City.
    2. That the additional funding request from the New Theatre Initiative Inc, for the sum of $110,000 in 2007/2008 (total of $250,000) towards the increased operating costs of the Flexiform theatre project costs be referred to the March 2007 Combined Committees meeting for consideration with all other funding requests.
    3. That if further funding is provided for 2007/2008, that the various funding agreements between Auckland City and New Theatre Initiative be amended accordingly.

    CARRIED

13. STARDOME OBSERVATORY AND PLANETARIUM REDEVELOPMENT PROPOSAL

    That the funding request from Stardome Observatory for the sum of $865,000 towards the cost of the upgrade of the planetarium to full-dome technology be referred to the March 2007 Combined Committees for consideration with all other new funding requests.

    CARRIED

14. SPORT AUCKLAND REQUEST FOR ADDITIONAL OPERATIONAL FUNDING

    That the additional funding request from Sport Auckland of $48,000 in 2007/2008, and $49,500 in 2008/2009 and $51,500 in 2009/2010 to deliver four new priority projects to be agreed and identified through the Active Auckland Plan be referred to the March 2007 Combined Committees meeting for consideration with all other funding requests, against the other funding requests received.

    CARRIED

15. ENVIRONMENTAL HEALTH FEES BENCHMARKING

    That the proposed change to the brothel licence fee be included for consideration in Auckland City Environments' fee changes, that will be consulted on in the draft 2007/2008 Annual Plan.

    CARRIED

16. PROPOSED FEE INCREASE – AUCKLAND CITY ENVIRONMENTS AND CITY PLANNING

    The chairman moved:

    That the proposed changes to the Auckland City Environments fees, which reflect council's cost for providing the service, be accepted.

    Councillor Casey moved the following amendment:

    That the dog fee increase only by the $2.00 levy imposed by the government.

    A division was called for, voting on which was as follows:

    For the Amendment:	Against the Amendment:
    Cr Neil Abel Cr Dr Cathy Casey Cr Christine Caughey Cr Dr John Hinchcliff Cr Linda Leighton Cr Toni Millar Cr Faye Storer	Cr D Armstrong Cr Leila Boyle Cr Bill Christian Cr Glenda Fryer Deputy Mayor Dr Bruce Hucker Cr Scott Milne Cr Graeme Mulholland Cr Richard Northey Cr Noelene Raffills His Worship the Mayor Cr Vern Walsh

    Cr Penny Sefuiva and Cr Richard Simpson were absent.

    The amendment was declared LOST by 11 votes to 7.

    The chairman put the following substantive motion:

    That the proposed changes to the Auckland City Environments fees, which reflect council's cost for providing the service, be accepted.

    CARRIED

    Councillors Abel, Casey and Storer requested their votes against the motion be recorded.

17. COMMUNITY LIBRARIES – EXTENSION OF SUNDAY SERVICE

    That the information and priorities regarding opening of additional community libraries on Sundays be referred to the March 2007 Combined Committees meeting for consideration with all other new funding requests with the recommendation that Sunday opening of the Remuera, Onehunga and Blockhouse Bay libraries at a cost of $200,000 per annum be approved as from 1 July 2007 and that the Epsom and Leys Institute be considered for the 2008/2009 annual plan budget.

    CARRIED

18. REVIEW OF SLIPS FUNDING

    Mr G Easte, Chairman, Western Bays Community Board spoke on behalf of the board regarding a request for the review of small local improvement projects (SLIPs) funding. Mr Easte tabled documents for the committee's consideration.

    [ATTACHMENT 18A]

    1. That Mr Graeme Easte, Chairman of the Western Bays Community Board be thanked for his attendance.
    2. That the funding for small local improvement projects be referred to March 2007 Combined Committees for consideration with all other new funding requests.

    CARRIED

19. EXCLUSION OF THE PUBLIC : LOCAL GOVERNMENT
    OFFICIAL INFORMATION AND MEETINGS ACT 1987

    That the public be excluded from the following part(s) of the proceedings of this meeting.

    The general subject 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(1) of the Local Government Official Information and Meetings Act 1987 for the passing of this resolution are as follows:

    Item No.	General subject of each matter to be considered	Reason for passing this resolution in relation to each matter	Ground(s) under section 48(1) for the passing of this resolution
    C1.	Auckland Netball Incorporated – Request For Opex Funding 2007/2008	Good Reason to withhold exists under section 7	Section 48(1)(a)
    C2.	Funding Mechanisms for Future Performing Arts Productions and Commercial Musical Theatre	Good Reason to withhold exists under section 7	Section 48(1)(a)

    This resolution is made in reliance on Section 48(1)(a) of the Local Government Official Information and Meetings Act 1987 and the particular interest or interests protected by section 6 or section 7 of that Act which would be prejudiced by the holding of the whole or relevant part of the proceedings of the meeting in public are as follows:

    Item No.	Reason to withhold information under section 7
    C1.	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.	[Section 7(2)(b)(ii)]
    C2.	To protect information where the making available of the information would disclose a trade secret.	[Section 7(2)(b)(i)]

    There being no further business the Chairman declared the meeting closed at 5:12 pm.