MINUTES OF A MEETING OF THE FINANCE AND CORPORATE BUSINESS COMMITTEE HELD ON THURSDAY, 15 MARCH 2007 AT 1:30PM

1. APOLOGIES

   That the apologies from Councillor Simpson for non-attendance and Councillor Milne for lateness be accepted.

   CARRIED

2. CONFIRMATION OF MINUTES

   That the minutes of the Finance and Corporate Business Committee meeting held on Thursday, 15 February 2007 be confirmed as a true and correct record.

   CARRIED

3. EXTRAORDINARY BUSINESS

   There was no extraordinary business.

   The Chairman moved:

   That item 5 be considered at this point.

   CARRIED

4. PUBLIC FORUM

   4.1. MS PENNY BRIGHT - METROWATER WATER RESTRICTIONS

   Ms Bright tabled documents requesting the Principal Public Health Engineer to support the view that water restrictions should not be used as a means to recover debt, for health reasons.

   [ATTACHMENT 4.1]

   That Ms Bright be thanked for her attendance.

   CARRIED

5. REPORTS REQUESTED/PENDING

   That the report of the Democracy advisor dated 9 March 2007 be amended as follows:

   Row No.	Date Requested	Target Date	Officer(s) Reporting	Report Name	Comments
   1	25/05/05	Mar-07 defer to May 07	Treasury	Review of Development with Vision Board	Committee require the board be reviewed after 12 months of being in operation. The Board does not commence until Feb 2007, therefore report back to March FCBC meeting. Review is now underway and will be reported to the May Finance meeting
   2	24/05/06	May-07 defer to July 07	Treasury	Review of Appointment of Directors for Westhaven and Hobson West Marinas	Appointments to be reviewed prior to 30 June 2007.

   CARRIED

6. FINANCIAL REPORT FOR THE SEVEN MONTHS ENDED 31 JANUARY 2007

   That the Finance and Corporate Business Committee note the financial report for the seven months ended 31 January 2007 highlighting:

   1. a favourable operating surplus variance of $0.02 million against forecast
   2. a capital expenditure underspend of $24.0 million against forecast
   3. the risk to achievement of forecast year-end capital expenditure.

   CARRIED

7. DEPRECIATION REVIEW AT AUCKLAND CITY

   That officers report back to the May Finance and Corporate Business Committee meeting on the impacts of reducing the average building and infrastructure assets annual depreciation rates to 2.5%.

   CARRIED

8. COMMISSION OF LIVING EARTH LTD FOR URGENT REMEDIATION OF CONTAMINATED SOIL AT VICTORIA PARK

   That it be a recommendation to council:

   1. That a total budget of $1,645,000, representing Stage 1 and Stage 2 works, be approved under urgent decision making procedures, to the remediation of contaminated soil at Victoria Park, Auckland City taking into account protection of scheduled heritage trees.
   2. That, subject to council budget approval as recommended above, the Finance and Corporate Business Committee approve the release of funds from the provisional contaminated land fund for Stage 1 Victoria Park remediation works (playground and adjacent treeline) to a value of $968,242 excl. GST (incl. 10 per cent contingency) in accordance with the approved Victoria Park Remediation procurement plan.

   CARRIED

9. 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.	Affordable Housing Project: Update and site issues	Good Reason to withhold exists under section 7	Section 48(1)(a)
   C2.	Financial contribution write off	Good Reason to withhold exists under section 7	Section 48(1)(a)
   C3.	Delegated decisions from the Property Enterprise Board	Good Reason to withhold exists under section 7	Section 48(1)(a)
   C4.	Delegated decisions	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 enable the council to carry on, without prejudice or disadvantage, negotiations (including commercial and industrial negotiations). In particular, the report contains information, that if released, would compromise further negotiations in regard to the proposed sites for the affordable housing project.	[Section 7(2)(i)]
   C2.	To enable the council to carry out, without prejudice or disadvantage, commercial activities. In particular, the report contains sensitive information relating to debtors.	[Section 7(2)(h)]
   C3.	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. In particular, the detailed financial information contained in the report, if released, would prejudice the commercial position of council or the other parties involved.	[Section 7(2)(b)(ii)]
   	To enable the council to carry out, without prejudice or disadvantage, commercial activities. In particular, the detailed financial information contained in the report, if released, would place council at a disadvantage in carrying out its commercial activities.	[Section 7(2)(h)]
   C4.	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. In particular, the detailed financial information contained in the report, if released, would place council at a disadvantage in carrying out its commercial activities.	[Section 7(2)(b)(ii)]
   	To enable the council to carry out, without prejudice or disadvantage, commercial activities. In particular, the detailed financial information contained in the report, if released, would place council at a disadvantage in carrying out its commercial activities.	[Section 7(2)(h)]

   CARRIED

   There being no further business the Chairman declared the meeting closed at 3:50 pm.