Coast council faces ‘challenging’ year
From local democracy reporter Brendon McMahon:
The West Coast Regional Council faces "another very challenging year," according to Risk and Assurance Committee chairman Frank Dooley.
The committee met on Tuesday for five-and-a-half hours as it received an update on the council's investment portfolio, got a closed door briefing on the draft 2022 annual report, endorsed a health and safety charter and teased out a schedule of workshops for the forthcoming annual plan.
The council also has received tens of millions of dollars for 'shovel ready' projects and other publicly funded infrastructure projects to clear and show progress on in the coming year.
Councillors workshopped the 2022 annual report for about three hours
and it will be adopted next week at the first formal council meeting of the year.
Dooley thanked council staff for their work to get it over the line and under pressure.
"It's really comforting to know we're going to be able to sign-off next week. I know it's six weeks behind our statutory deadline, but there's nothing we can do about it."
An earlier briefing by council investment portfolio advisers J B Were explained the rationale of having a diversified portfolio both domestically and internationally.
Dooley said the presentation was good from a risk perspective and explained the benefits of a diversified portfolio, although the council had a responsibility "to keep oversight".
He had asked management to also present a profile of the council's liabilities in the coming months.
The council had previously been briefed mid-year on liabilities, currently $12.25m.
J B Were advisers told the council the focus was on spreading risk, over-riding the tendency for investors to just focus on returns, hence a diverse portfolio held by the council.
The past three years had been particularly challenging with inflationary pressure in the international and domestic economy but the portfolio had rendered a "reasonable" return of 11.5% in that period; the performance benchmark was 6%.
Returns should be better over the next year, advisers said.
In the past, the regional council has used the investment portfolio to subsidise its activities in lieu of rates — with the average drawdown, until two years ago, being $350,000 every six months, or $2.8m in total.
*Public interest journalism funded through NZ On Air
Poll: Is it rude to talk on the phone on a bus?
Buses can be a relaxing way to get home if you have a seat and enough space. However, it can be off-putting when someone is taking a phone call next to you.
Do you think it's inconsiderate for people to have lengthy phone calls on a bus? Vote in the poll, and add your comments below.
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64.3% Yes
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33.2% No
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2.5% Other - I'll share below
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Paddy Gower seeks ‘bloody great Cantab’
The Kiwi journalist drilling deep into the country’s biggest issues is on a mission to find the local greats.
Paddy Gower is looking for the Good Kiwi in every region to feature in his show, The F@#$ing News - Paddy Gower Live on Tour.
To nominate a Good Kiwi, email reporters@press.co.nz with the name and a description of why your nominee should win. You an also share the local issues you think Paddy needs to tackle in the comments below.
It could be the woman whose knitting circle has made 3800 items for victims of domestic violence, the guy running the length of Aotearoa for mental health, or the woman with terminal cancer who spends her time campaigning to raise awareness and save lives.
“Basically I am looking for ... a bloody great Cantab who just gets on and gets things done. The criteria is somebody who has a positive attitude and makes the community a better place," Gower said.
“I will give this person the 'Big Ups' they deserve, and the community can celebrate them with me.”
A Good Kiwi will feature in each of Gower’s live shows in 14 centres through November and December. He will name the Cantabrian Good Kiwi at his Christchurch show on the evening of Friday, November 22, at St Margaret’s College.
The F@#$ing News - Paddy Gower Live on Tour is a sort of book tour, sort of stand-up comedy, some journalistic yarns and memoir, and some motivational speaking - with a fair bit of local in each show.
Gower also wants to know about topics of interest in the region.
“I’m ... going to be taking on a big issue facing Canterbury and offering up solutions.”
A stinky suburb, a neighbourhood needing a round-about or a cathedral in disrepair - “I will make your views count”, he said.
“I'm touring the nation to spread positivity, optimism and good vibes.”
*For tickets to the The F@#$ing News - Paddy Gower Live on Tour visit paddygower.co.nz
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