Te Rūnanga o Ngāti Awa ANNUAL REPORT 2016
Annual Report 2016
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TE RŪNANGA O NGĀTI AWA
2016 ANNUAL GENERAL MEETING Saturday 10th DECEMBER Kokohinau Marae, Te Teko
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Te Rūnanga o Ngāti Awa
CONTENTS TE RŪNANGA O NGĀTI AWA Chairman’s Report Chief Executive’s Report Board of Hapū Representatives Our Organisation Our Staff Te Kāhui Kaumātua Te Ara Poutama: Guiding Principles • Manaakitanga
- Supporting Ngāti Awa Learners - 2016 Scholarship Recipients - 2016 Education Grants - Te Kooti Rangatahi
9 9 10 13
- Ngāti Awa Mātaitai - Marine Forum - MVRena Stranding - Kuia Harvesting on Moutohorā - Research & Archives
14 14 14 14 14
- Te Mānuka Tūtahi, Mataatua Marae - Hapū Hakinakina Challenge - Te Toki Festival 2015 - Hapū Grants 2006-2016
15 16 17 17
• Kaitiakitanga
• Ngāti Awatanga
NGĀTI AWA GROUP HOLDINGS LIMITED, NGĀTI AWA ASSETS LIMITED Chairman’s Report Chief Executive’s Report Board of Directors Te Rūnanga o Ngāti Awa Financial Statements
2 4 6 7 7 8 9
- Directory of Officers - Statement of Comprehensive Revenue and Expense - Statement of Changes in Equity - Statement of Financial Position - Cash Flow Statement - Notes to the Financial Statements - Auditors’ Report - Remuneration and Payments
Ngāti Awa Hapū Representatives Directory of Staff
18 20 22 23 24 25 26 27 28 29 59 61 63 65
Annual Report 2016
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TE RŪNANGA O NGĀTI AWA
CHAIRMAN’S REPORT
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Te Rūnanga o Ngāti Awa
E noho ana i te koko ki Ōhiwa Whakarongo rua aku taringa, Ki te tai rā o Tuārae-o-Kanawa, E āki ana mai ki uta rā. Ki te whānau a Tairongo Kei Tauwhare rā Ko te kōpua rā o te ururoa. Te kai i rari noa mai Tē rawaketia e te ringaringa E ngā mana, e ngā reo, ngā karangaranga hapū o Ngāti Awa, nau mai haere mai. Haere mai i runga i te āhua o tātau tini aitua e whakatoakoto nei, i te āhua o te heke o te roimata. Nō reira haere koutou, moe mai i roto i te Ariki. It is my pleasure to report to you on the 2015-2016 financial year of Te Rūnanga o Ngāti Awa. This report contains the development and cultural highlights achieved in the past year, and outlines our financial performance. Ten years on from our settlement with the Crown, it is timely to reflect on the achievements we have made, and to acknowledge those who are no longer with us who contributed so much to the Iwi; from the establishment of the Ngāti Awa Trust Board in 1980, until today. The hui held at Puawairua marae in 1980, where the pākeke of Ngāti Awa agreed to progress a unified Ngāti Awa claim against the Crown, set the path for Te Rūnanga o Ngāti Awa today. We remember the hard work and dedication of the many whose determination and care realised our iwi aspirations set in 1980.
Over the past decade, we have achieved much, and there is always more to do. While the settlement has provided some level of self-direction as an Iwi, there are no quick fixes. Our aim is to carefully and prudently grow our assets, so that there are long-term gains for all descendants of Ngāti Awa, those who are born, and those who are yet to come. Many changes have occurred over the past year, including the appointment of Leonie Simpson to the role of Chief Executive Officer, Te Rūnanga o Ngāti Awa in May 2016. Leonie has an extensive professional background with a focus on development, particularly strategic planning, governance, relationship management and supporting organisation’s to identify and realise their potential. Our future will, likely require more changes, and together we will be ready. The aspirations of the Iwi are the foundation of Ko Ngāti Awa Te Toki – Iwi Vision 2050. The unifying goals of: Turangawaewae; Mauri Ora; Toi Ora; and Tu Pakari are the key focus of Te Rūnanga o Ngāti Awa over the next years as we continue to concentrate our efforts and resources towards realising our Iwi vision.
Ko Ngāti Awa te toki tē tangatanga i te rā, tē ngohengohe i te wai Ngāti Awa, whose bindings cannot be loosened by the sun or softened by the rain I thank the Board of Representatives, Te Kāhui Kaumātua, and the Directors of Ngāti Awa Group and Ngāti Awa Asset Holdings boards, along with all committee members and staff for their work and support over the past year. Nō reira, tēnā tātau katoa.
DR HOHEPA (JOE) MASON
Chairman Te Rūnanga o Ngāti Awa
Annual Report 2016
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TE RŪNANGA O NGĀTI AWA
CHIEF EXECUTIVE’S REPORT
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Te Rūnanga o Ngāti Awa
Strengthening the bindings of the adze. Our culture. Our environment. Our resources. Our people. Tēnā tātau katoa i roto i ngā āhuatanga o te wā. Welcome to the 2015-2016 Annual Report for Te Rūnanga o Ngāti Awa. I was appointed to my role in May 2016, near the end of the 2015-16 financial year. In the past year, the Rūnanga Board and staff have worked towards setting a foundation from which Te Rūnanga o Ngāti Awa can continue to grow. This Annual Report is a milestone in the history of the Rūnanga, and it is timely to reflect on what gains we have made together, and to face the future united in whakapapa, and our collective aspirations set out in Ko Ngāti Awa Te Toki – Iwi Vision 2050. In my previous role with the Rūnanga, Ko Ngāti Awa Te Toki was developed alongside the Iwi. The aspirations of ngā uri o Ngāti Awa were heard, recorded and are the foundation of the operations of Te Rūnanga o Ngāti Awa. Overwhelmingly, the iwi aspires to retain and maintain our culture and identity as Ngāti Awa, develop leadership potential amongst the Iwi, and nurture the development of our rangatahi. These aspirations are the three priorities for Te Rūnanga o Ngāti Awa, and over the next year these priorities will form the basis of the activities and services that Te Rūnanga o Ngāti Awa provides. Our Guiding Principles of Ngāti Awatanga, Kaitiakitanga and Manaakitanga set out how we will achieve these aspirations: Ngāti Awatanga – our culture and language: our responsibilities to uphold and protect our language and culture which derive from our shared ancestry as the cornerstone of our unique identity. Kaitiakitanga – guardianship for future generations: our obligations to protect our culture, environment, our resources and our people today and for future generations in accordance with our cultural practices.
Manaakitanga – Caring for each other: our shared obligation to care for one another, with emphasis on our youth and our elders. In the past financial year, Te Rūnanga o Ngāti Awa has implemented activities and services that focussed on lifting educational achievement, providing guidance to Rangatahi, continuing to protect our environment, and supporting hapū and marae. The details of these activities and services are set out in this report. Te Rūnanga o Ngāti Awa has faced many challenges over the past 10 years. It is how we respond to these challenges as an Iwi, and the collective legacy we build for future generations that will remain and sustain us into the future. Finding balance between our current and future needs requires Te Rūnanga o Ngāti Awa to work efficiently and diligently towards the achievement of our Iwi aspirations set out in Ko Ngāti Awa Te Toki. We will be striving to meet this challenge in the next year. Anga hau ngātahi, ka titiro whakamua ki te huri o te ao, tae atu ai ki te tau ruamano rima tekau. Ko te manakohia kia kotahi te whakaaro whānui, kia kauaka e ngaro ngā taonga tuku iho a o tātau tīpuna. Te whanaungatanga, te manaakitanga, te whakapono, te hūmārie me te aroha. Kia mau tonu te reo ake o tātau, o ngā uri whakaheke o Awanuiārangi. Te pū o te whakapaparanga o te mana me te tūranga rangatiratanga o Ngāti Awa. Heoi nā te maungarongo te whana i tū ai, nā te kotahitanga te aroha i mau ai. He mihi maioha ki ngā mema o ngā Poari, ngā Komiti, me te Kāhui Kaumātua. Ka mihi hoki ki ngā kaimahi me te iwi whānui e tautoko nei ki te whakatutuki i ngā kaupapa kei mua i a tātau. Tēnā tātau katoa. Naaku noa,
LEONIE SIMPSON
Chief Executive Te Rūnanga o Ngāti Awa
Annual Report 2016
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TE RŪNANGA O NGĀTI AWA
BOARD OF HAPŪ REPRESENTATIVES
Te Rūnanga o Ngāti Awa Board of Representatives. Back Row (L-R) Keld Hunia, Tuwhakairiora O’Brien, Miro Araroa, Alfie Morrison. Middlle (L-R) Putiputi Koopu, Mihipeka Sisley, Marcia Wahapango, Regina O’Brien, Meri Hepi. Front (L-R) Aubrey Kohunui, Serenah Nicholson, Joe Mason (Chair), Materoa Dodd, Pouroto Ngaropo, Dayle Hunia. Absent: Manukorihi Tarau, Paul Quinn, Manurere Glen, Stanley Ratahi, Maanu Paul, Te Kei Merito, Amohaere Tangitu.
The Board of Representatives comprises members from each of the 22 Ngāti Awa hapū. They are responsible for the governance of the Iwi organisation. The board meets bi-monthly and there are a number of subcommittees that manage specific areas as outlined in the table on page 63.
Ngāti Awa — Our People • Approx. 20,000 descendants • Approx. 31% identified Ngāti Awa as their sole iwi affiliation • Approx. 50% are 23 years of age or younger • Approx. 73% have a formal qualification • Approx. 31% can hold a conversation about everyday things in teo reo Māori • Approx. 45% live in the Bay of Plenty – the remainder live in Auckland, Wellington, Waikato or overseas • Most of those living overseas, live in Australia Te Rūnanga o Ngāti Awa Members’ Register, 2013 Census.
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Te Rūnanga o Ngāti Awa
TE RŪNANGA O NGĀTI AWA
OUR ORGANISATION Te Rūnanga o Ngāti Awa
100% control
(TRoNA)
Ngāti Awa Community Development Trust
Ngāti Awa Research & Archives Trust (NARA)
100% control 100% ownership
100% ownership
Ngāti Awa Asset Holdings Ltd
Ngāti Awa Group Holdings Ltd
(NAAHL)
(NAGHL)
70% ownership
17% ownership
Manu Hou Ltd Liability Partnership
Mataatua Quota ACE Holding Ltd
100% ownership
100% ownership
100% ownership
100% ownership
100% ownership
100% ownership
Ngāti Awa Fish Quota Holdings Ltd
Ngāti Awa Investments Ltd
Ngāti Awa Farms Ltd
Ngāti Awa Forests Ltd
Ngāti Awa Properties Ltd
Ngāti Awa Fisheries Ltd
51% ownership
68% ownership
Ngāti Awa Farms (Rangitaiki) Ltd
Tumurau Limited Partnership
OUR STAFF
Staff in the Whakatāne office (L-R) Ray Thompson, Noti Belshaw, Peter Thomas, Geoff Hamilton, Deliah Balle, Naedene Stewart, Leonie Simpson, Monica Maniapoto, Glenda Stewart, Charlie Bluett and Lynsey Mariu.
Annual Report 2016
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TE RŪNANGA O NGĀTI AWA
TE KĀHUI KAUMĀTUA
Te Kāhui Kaumātua with Te Rūnanga o Ngāti Awa Chair Joe Mason, Te Rūnanga o Ngāti Awa Chief Executive Leonie Simpson and Ngāti Awa Group Holdings Chief Executive Geoff Hamilton. Back row (L-R) Della Te Pere, Georgina Maxwell, Debbie Kingi. Middle row (L-R) Leonie Simpson, Nettie Keepa, Charlie Bluett, John Stipich, Hiwa Wynyard, Matekino Raerino, Kataraina O’Brien, Hana Te Pou, Joe Mason, Te Tuhi Mate, Paora Brown, Geoff Hamilton. Seated (L-R) Timi Peri, Hera Eruera, Rangitukehu Paul (Chairman), Hemana Eruera (Deputy Chair), Aneko Keepa-Cocks, Claude Keepa, Whaiora Brown and Aporina Chapman.
TE KĀHUI KAUMĀTUA O NGĀTI AWA Representing each of the 22 hapū of Ngāti Awa, the Kāhui Kaumātua roles and responsibilities, as outlined in the Te Rūnanga o Ngāti Awa Charter are: to protect the mauri of Ngāti Awa, and provide leadership and guidance on matters of tikanga, kawa, reo and kōrero. Last financial year, Te Kāhui Kaumātua met four times to discuss various kaupapa, including the following: • Initiating whakairo repairs at Te Mānuka Tūtahi Marae. • Issues we are facing in retaining our cultural practices. • Tikanga and kawa matters. .
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Te Rūnanga o Ngāti Awa
TE RŪNANGA O NGĀTI AWA
TE ARA POUTAMA: GUIDING PRINCIPLES Manaakitanga
Kaitiakitanga
Ngāti Awatanga
Caring for each other: our shared obligations to care for one another, with particular emphasis on caring for our youth and our elders.
Guardianship for future generations: represents our obligations to protect our culture, our environment, our resources and our people today and for future generations, in accordance with our cultural practices.
Our language and culture: uphold and protect our language and culture – which derive from our shared ancestry – as the cornerstone of our unique identity.
Manaakitanga: Caring for each other SUPPORTING NGĀTI AWA LEARNERS In the past 10 years, Te Rūnanga o Ngāti Awa has supported more than 1,760 tertiary students through the awarding of scholarships and education grants. In total, $810,000 has been awarded from 2006 through to 2016 – as illustrated.
EDUCATION GRANTS AND SCHOLARSHIPS 2005/2006
$81,400
2006/2007
$87,600
2007/2008
$78,450
In 2016, another 90 tertiary students have benefitted from an education grant, and three scholarships were awarded, with a total of $40,800 invested in the future of Ngāti Awa.
2008/2009
$77,200
2009/2010
$99,450
2010/2011
$97,750
Te Rūnanga o Ngāti Awa extends our congratulations to the scholarship and education grant recipients for 2015/16.
2011/2012
$94,250
2012/2013
$59,850
2013/2014
$48,450
2014/2015
$45,600
2015/2016
$40,800
Total
$810,800
2016 SCHOLARSHIP RECIPIENTS Guy Monika
Ngāi Tamawera Environmental Management (3rd and final year) Te Whare Wānanga o Awanuiārangi
Winiata Anderson
Te Pahipoto Law and Commerce (2nd of 4 years) The University of Waikato
Cheryl Wilson
Ngāi Tamaoki Matauranga Māori (2nd of 3 years) Te Whare Wānanga o Awanuiārangi
$810k
Education Grant Distribution 2006-2016
Annual Report 2016
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Manaakitanga: Caring for each other 2016 EDUCATION GRANT RECIPIENTS
90
Grant Recipients Ngā Maihi Tasha Dimitrof
Tourism and Hospitality Management - Marketing The University of Waikato
Dara Dimitrov
Accounting PhD Thesis, 2016 The University of Waikato
Ashlee Gillon
Waiariki Institute of Technology
Samantha Grace Bachelor of Science The University of Auckland
Pirihita Sheila Tuau
Kimberlee Hohepa
Ngāi Tamawera
Michele Hudson Bachelor of Health Science Māori (Nursing) Te Whare Wānanga o Awanuiārangi
Computing and Communications Technology Level 3 Waiariki Institute of Technology
Rosalee Gillies
Bachelor of Health Science Māori (Nursing) Te Whare Wānanga o Awanuiārangi
Tamokai Monika
Bachelor of Environmental Studies Te Whare Wānanga o Awanuiārangi
Master of Public Health Māori Health Specialisation The University of Auckland
Te Kahupake Georgina Patangata Bachelor of Social Practice
Phillipa Rangikawhitia Hahipene Bachelor of Teaching
Ngāi Tamaoki
Grace Harper-Tierney
Bachelor of Health Sciences Māori (Nursing) Te Whare Wānanga o Awanuiārangi
The University of Waikato
Bachelor in Sport and Recreation Auckland University of Technology
Saska Hayes
Master of Law The University of Waikato
Santana Katene
Bachelor of Education (Primary) Te Wānanga o Aotearoa
Awhina Little
Diploma in Agriculture Taratahi Agricultural Training for NZ
Houston Maxwell
Bachelor of Arts The University of Waikato
Waioira Mcleod
Bachelor of Physiotherapy The University of Otago
Baileigh Regina Te Awaroa Moses-Pryor
Automotive Electrical and Mechanical Engineering (L3) Bay of Plenty Polytechnic
The Whare Wānanga o Wairaka
Rangiwhanake Apiata
Tauhe Apihai
Master of Indigenous Studies Te Whare Wānanga o Awanuiārangi
Rikimari Aramoana
Diploma in Travel and Tourism New Zealand School of Tourism
Billy Jo Hunia
Bachelor of Computing and Mathematical Sciences The University of Waikato
Ngāti Hamua Te Raiti Delilah Te Pere Matauranga Māori
Te Whare Wānanga o Awanuiārangi
Te Kahupāke Jessica Wiperi
Bachelor of Applied Management Christchurch Polytechnic Institute of Technology
Te Rina Popata Bachelor of Law
Te Pahipoto
Keely-Shaye Salmon Turoa Bachelor of Science
Bachelor of Nursing Whitireia Community Polytech
The University of Waikato
The University of Auckland
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Wairemana Tamatea Bachelor of Nursing
Te Rūnanga o Ngāti Awa
Te Rongopai Clay-Mackay
Bachelor of Health Science Auckland University of Technology
Melissa A P Hunia Diploma of Law The University of Waikato Hinetiki Karaitiana
Te Tohu Paetahi Ako, Bachelor of Education Te Whare Wānanga o Awanuiārangi
Sapphire Mansell Poutuarongo Kaitiakitanga Putaiao Te Wānanga o Raukawa Siobhan Marks Bachelor of Midwifery Christchurch Polytechnic Institute of Technology Matewawe Pouwhare Master of Professional Practice Whitireia Community Polytech Jordan Rangiheuea
Bachelor of Health Science Auckland University of Technology
Aroha Ruha-Hiraka
Bachelor of Health Sciences Māori (Nursing) Te Whare Wānanga o Awanuiārangi
Bella Arapera Savage He Waka Hiringa-Applied indigenous Knowledge Te Wānanga o Aotearoa Venessa Jane Tuaupiki
NZ Diploma in Information Technology Technical Support Waikato Institute of Technology
Sasu Wihapi
Bachelor of Teaching (Primary) The University of Waikato
Lasha Wineti
Bachelor of Nursing Year 3 Waikato Institute of Technology
Manaakitanga: Caring for each other 2016 EDUCATION GRANT RECIPIENTS Ngāi Tuariki Amokura August
Bachelor of Māori Studies The University of Waikato
Wereta August
Diploma in Business Studies Waiariki Institute of Technology
Warahoe Madeleine Campbell Bachelor of Commerce
Lincoln University
Waipae Polly Perese
Bachelor of Humanities Te Whare Wānanga o Awanuiārangi
Te Tawera Colleen Cochrane Culinary Arts Level 5
Waiariki Institute of Technology
Naomi Palmer
Bachelor of Sport and Leisure Studies The University of Waikato
Rachael Reihana
Bachelor of Social Science The University of Waikato
Ngāi Taiwhakaea Jamie Allan
Bachelor of Mathematical Sciences Auckland University of Technology
Patricia Bennett
Diploma in Applied Māori Coexisting Disorders Anamata
Georgia Kate We-Tawhiti Glen Bachelor of Communications & Technology Auckland University of Technology
Shonelle Iopata
Master of Maori Studies Te Whare Wānanga o Awanuiārangi
Kaihou Morris
Diploma in Sports Management and Exercise Prescription NZ Institute of Sport
Lyric Ratahi
Ronni Tearikki Rowles Culinary Arts Level 5
Wharepaia
Herewini Jean Tane
Bachelor of Laws/Bachelor of Arts conjoint degree The University of Auckland
Bay of Plenty Polytechnic
Bachelor of Health Sciences Māori (Nursing) Te Whare Wānanga o Awanuiārangi
Jenny Wahapango
Graduate Diploma in Professional Supervision Te Wānanga o Aotearoa
Grace Abbott
Shayden Bell
Bachelor of Dental Surgery The University of Otago
Te Patuwai
Kerena Wano
Tiare Dickson
Haupai Williams
Ngahaka Hei Hei
Lee Williams
Jerry Rota
Ngāti Hikakino
Charyll Rota
Graduate Diploma in Primary Teaching The University of Waikato Bachelor of Teaching Te Whare Wānanga o Awanuiārangi Bachelor of Health Sciences Māori (Nursing) Te Whare Wānanga o Awanuiārangi
Maia Westrupp
Bachelor of Social Science The University of Waikato
Ngāti Hokopū ki Te Hokowhitu a Tu Caitlin Balkin
Bachelor of Physiotherapy and Minor in Māori Studies The University of Otago
Lorraine Maddigan-Ould
Georgina Maxwell
Ngāti Hokopū ki Te Whare o Toroa
Retia Aaron Melbourne-Morehu Bachelor of Social Science
Therese Mary Kingi
Te Tohu Toi Tangata: Bachelor of Humanities Te Whare Wānanga o Awanuiārangi
Diploma in Conveyancing Bay of Plenty Polytechnic
Master of Māori Studies Te Whare Wānanga o Awanuiārangi
Bachelor of Arts Victoria University of Wellington
Bachelor of Social Science The University of Waikato
Canning Mason
Masters of Engineering Management The University of Canterbury
Merenia Hudson
Damian Bluett-Marr
Bachelor of Laws/Bachelor of Arts Conjoint Degree The University of Auckland
Te Toi o Nga Rangi: Bachelor of Māori Visual Arts Eastern Institute of Technology Bachelor of Social Work Whitireia Community Polytech He Korowai Akonga Bachelor of Education Te Wānanga o Aotearoa Te Tohu Paetahi Ako: Bachelor of Education Te Whare Wānanga o Awanuiārangi
Wharengaro Ruha
Bachelor of Engineering The University of Waikato
Te Tai Pounamu Ruha
Bachelor of Management Studies The University of Waikato
Ruihi Te Kowhai Lorrin Shortland Indigenous Studies PhD Thesis, 2016 Te Whare Wānanga o Awanuiārangi
Tracey Takuira
Indigenous Studies PhD Thesis, 2016 Te Whare Wānanga o Awanuiārangi
Ngāti Maumoana Jewel Harris
Bachelor of Design Auckland University of Technology
The University of Waikato
Annual Report 2016
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Manaakitanga: Caring for each other 2016 EDUCATION GRANT RECIPIENTS Ngāti Rangataua Marama Cook
Bachelor of Humanities Te Whare Wānanga o Awanuiārangi,
Josephine Knight Bachelor of Communications Massey University
Mariva Jolene Tawa
Pikiao Merito
Marjory Mason
Jaymie Wardlaw Bachelor of Laws The University of Waikato
Bachelor of Health Science Māori (Nursing) Te Whare Wānanga o Awanuiārangi
Bachelor of Education (Teaching) Te Whare Wānanga o Awanuiārangi,
Nigel Rapana
Reece McCauley-Walker
Bachelor of Humanities Te Whare Wānanga o Awanuiārangi
Bachelor of Teaching (Primary School) The University of Waikato
Ngāti Pukeko
LEVELS OF STUDY 10
Total Numbers 2
Masters Post Grad Bachelors
Titihuia Paea Post Graduate Certificate in Cross Cultural Supervision Manukau Institute of Technology
PLACES OF STUDY
Total Numbers PhD
Bachelor of Communications Auckland University of Technology
Master in Māori and Pacific Development The University of Waikato
Bachelor of Medicine and Bachelor of Surgery The University of Otago
Ngāti Awa ki Tamaki Makaurau Bronson Burgess
Mereana Su
Miriarangi Kapa
Bachelor Applied Social Science Waiariki Institute of Technology
3
10
Institute
2
63
Diploma
10
28
Other Polytechnic University
3
41
Wānanga
Certificate
RAISING OUR IWI EDUCATION ACHIEVEMENT In partnership with the Ministry of Education, Te Rūnanga o Ngāti Awa delivered the Whānau Education Action Plan project in the past year. The purpose of the project was to increase the levels of Māori achievement at secondary school. Two of the four Eastern Bay secondary schools contacted, participated, with positive results for students completing Level 2 NCEA (National Certificate of Educational Achievement). The project joins students, mentors, whānau and the schools together for the common purpose of raising
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Te Rūnanga o Ngāti Awa
NCEA level 2 achievement. Homework workshops at marae, access to technology and specialist assistance in numeracy and literacy was provided to raise the achievement of these students. Feedback from the Ministry of Education, participating principals and their staff has been positive, with Te Rūnanga o Ngāti Awa recognised as a key party in the ongoing education success of Ngāti Awa students.
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Manaakitanga: Caring for each other EDUCATION GRANT BIOGRAPHY : Cassidy Moeke, Ngāti Rangataua Education Grant Recipient 2011 Cassidy Moeke is a scientist of Ngāti Awa and Ngāti Porou descent, who is committed to finding solutions to New Zealand’s number one killer – heart disease. Cassidy originally planned to complete a conjoint Commerce and Science degree, but after the first year chose Biomedical Science as his specialist field, as he believed in the ‘greater purpose’ linked to that degree program. Cassidy’s aim to help others became a reality, as after completing a Masters’ degree with First Class Honours with the Centre for Biodiscovery at Victoria University in Wellington. He embarked on further study with the prestigious University of Sydney Medical School’s Heart Research Institute (HRI). For the past three and a half years, Cassidy has been completing his PhD in the Free Radical Group which on a broader scale, is investigating the links between inflammation and atherosclerosis (hardening of the arteries). The PhD enabled Cassidy to meet and learn from leading experts in his field, as well as carrying out research and contributing to the fight against cardiovascular disease. In 2015, Cassidy received international recognition, receiving a Young Investigator Award, attending and sharing his PhD work at a conference in Boston comprising some 500 leading international researchers. Wellington-born Cassidy recently contacted Te Rūnanga o Ngāti Awa to say thank you for the grant he received for his Master’s degree. “The financial assistance provided by Ngāti Awa was a great relief and helped meet some important study-related and living costs, as the Masters Te Tipu Pūtaiao Fellowship was only enough to cover the costs of living.” “The education grants provided each year by Te Rūnanga o Ngāti Awa truly do make a difference,” says Cassidy, who has now completed and submitted his PhD thesis and is weighing up his next career move.
TE KOOTI RANGATAHI RECEIVES INTERNATIONAL RECOGNITION In May 2016, Te Kooti Rangatahi was awarded the prestigious “Australasian Institute for Judicial Excellence Award” at Orakei Marae, Auckland. The award recognises the Te Kooti Rangatahi initiative in Whakatāne and the 11 others throughout New Zealand, as making “a significant contribution to the furtherance of judicial administration”.
Having been in operation for nearly five years, Te Kooti Rangatahi is a community partnership involving Kaumātua from across Mataatua, a Youth Court Judge, Youth Advocates (Lawyers), Lay Advocates, Child, Youth & Family, Police and Social Services. Ngāti Awa kaumātua are in regular attendance.
On the first Friday of each month, rangatahi from across Mataatua, attend Te Kooti Rangatahi at Te Whare o Toroa Marae. Referrals are made via agreement between rangatahi, Child, Youth and Family and the Ministry of Justice.
Te Kāhui Kaumātua o Ngāti Awa actively supports Te Kooti Rangatahi with administration provided by Te Rūnanga o Ngāti Awa.
Annual Report 2016
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Kaitiakitanga: Guardianship for future generations NGĀTI AWA MĀTAITAI: Te Rūnanga o Ngāti Awa is continuing to work towards establishing a mātaitai that will provide for Ngāti Awa customary management and food gathering. Mātaitai reserves are one of the suite of management tools created under the Fisheries Act 1996. In some circumstances, a mātaitai reserve can exclude commercial fishing. Recreational fishing is not excluded. The mātaitai is one way of conserving fish stock in our rohe.
MAI I NGĀ KURI A WHAREI KI TIHIRAU FORUM The forum has continued its work in several areas over the last year including: • Investigating an extension to our rohe moana • Investing in Research Projects to investigate the impact of water quality on kaimoana growth, and implementing a pipi re-seeding program throughout Ōhiwa harbour. Other member Iwi include Te Whakatōhea, Ngāi Te Rangi, and Ngāti Ranginui.
MV RENA STRANDING Te Rūnanga o Ngāti Awa led an appeal to the Environment Court regarding the consent to “dump” the MV Rena on Otaiti in April 2016. The appeal was later withdrawn with the agreement of the parties to the appeal. This has been a difficult process and Te Rūnanga o Ngāti Awa acknowledges the large amount of voluntary time Te Patuwai and Ngāti Maumoana contributed.
KUIA HARVESTING ON MOUTOHORĀ Ngāti Awa harvesting of Kuia on Moutohorā was held on 22 November 2015, with 17 kaitiaki participating. Started in 2012, the project was implemented to ensure the survival of traditional Ngāti Awa harvesting techniques by placing Ngāti Awa descendants alongside kaumātua who harvested Kuia on Moutohorā in their youth. After four years, the goal of revitalising the tikanga and transferring knowledge to a new generation has been cemented.
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Te Rūnanga o Ngāti Awa
Despite the practice being prohibited for more than 50 years, the Moutohorā Kuia Harvesting project has now established a core group of kaitiaki knowledgeable in the traditional practices and techniques. Te Rūnanga o Ngāti Awa will continue to provide financial and logistical support each year, with support from Te Tapatoru ā Toi, and Ngāti Awa kaitiaki.
NGĀTI AWA RESEARCH AND ARCHIVES TRUST Ngāti Awa Research and Archives Trust continues to preserve, archive and make available to members, important cultural and significant historical information, photographs, and records. Over the past year, hapū and whānau have accessed the archive and records to support their research and whakapapa enquiries. Ngāti Awa Research and Archives was instrumental in developing Te Tiriti o Waitangi exhibition which was opened at Te Mānuka Tūtahi marae on 16 June 2016, at the annual Ngāti Awa Signing of Te Tiriti o Waitangi commemoration. Joint venture partnerships are ongoing with museums and tertiary institutions, such as the Auckland War Memorial Museum, and Auckland Libraries, which gives Te Rūnanga o Ngāti Awa access to works, images and artefacts of cultural importance and historical significance. Commemorating the ten years since the Ngāti Awa Tiriti o Waitangi Claims Settlement, Research and Archives has been working with the Ministry of Culture and Heritage to produce video oral history accounts of key Ngāti Awa figures involved in the settlement processes. The project started in 2015/2016, and will be completed in 2016/2017. The Research and Archives Trustees also convene as the Whakapapa Committee, responsible for the confirmation of all applications made to register with Ngāti Awa and Te Rūnanga o Ngāti Awa. The Committee also reviews and confirms any member requests to transfer hapū. The Committee met 8 times in 2015/16.
Ngāti Awatanga: Uphold, protect our language, our culture TE MANUKA TŪTAHI, MATAATUA WHARENUI The long journey home of Mataatua, coupled with the history of our iwi sets Mataatua Wharenui apart, as a symbol of our Iwi unity and resilience.
Te Mānuka Tūtahi also remains a popular and unique learning experience for school students with over 20 Eastern Bay educational groups being hosted last year.
In addition, Mataatua Wharenui is becoming a recognised Eastern Bay of Plenty cultural and tourism icon.
In addition, a growing number of groups from outside the region, including the University of Hawaii, The University of Waikato and Birkdale Intermediate visited Mataatua.
Over 30 cultural, community and corporate events were hosted in the 2015/16 year. Important cultural events hosted at Te Mānuka Tūtahi during the year included: the B Company Māori Battalion reunion, the Te Whare Wānanga o Awanuiārangi graduation and the Tūhonohono i ngā Taonga a Iwi: Preserving Iwi Cultural Heritage symposium, a national hui organised by Te Papa in partnership with Ngāti Awa. Interest in the facility as a venue for regional and national hui is gaining traction, particularly, with public sector agencies and affiliates such as the New Zealand Educational Research conference and the Children’s Team Local Governance Group.
School tours are offered at a price-point to be accessible for students of all ages and socio-economic backgrounds. Consequently, the relatively large number of student groups, generates a modest revenue. Ngāti Awa whānau also made use of the complex for weddings, reunions, wānanga and other hapū and Iwi events. The aim is for the complex to become the region’s premium event venue and pricing structures are being reviewed, particularly for all external groups and events, to improve income in the next year.
The Te Mānuka Tūtahi and Mataatua Wharenui team (L-R) Roimata Bennett, Carolyn Fitzpatrick, William Stewart, Mark Tutua, Tukirunga Perenara and Hare Woods.
Annual Report 2016
15
Ngāti Awatanga: Uphold, protect our language, our culture HAPŪ HAKINAKINA CHALLENGE 2016 The annual Ngāti Awa Hapū Challenge was hosted by Te Tohu o Te Ora o Ngāti Awa on 22 May 2016. Te Rūnanga o Ngāti Awa provided financial support for this event, and congratulate Te Tohu o Te Ora o Ngāti Awa and the participating hapū on another successful Hapū Challenge. Eighteen of the 22 Ngāti Awa hapū took part in this year’s Challenge, and approximately 600 participants and spectators were present.
2016 Winners Ngā Maihi Past Winners: 2015 Te Pahipoto 2014 Ngāi te Rangihouhiri II 2013 Ngāti Hokopū ki te Hokowhitu a Tū 2012 Not held 2011 Ngāi Taiwhakaea II 2010 Ngā Maihi 2009 Ngāi Tamapare 2008 Ngāi Tamaoki 2007 Ngāi Taiwhakaea II 2006 Ngā Maihi
Top: Ngā Maihi, the 2016 winners. Above (L): Ngāti Hikakino. Above (R): Ngāi Tamawera.
16
Te Rūnanga o Ngāti Awa
Ngāti Awatanga: Uphold, protect our language, our culture KO NGĀTI AWA TE TOKI 2015 Ko Ngāti Awa Te Toki is our iwi festival focussed on celebrating our identity as Ngāti Awa and revitalising the use of Te Reo Māori. Underpinned by our Cultural and Te Reo Māori Strategies, Ko Ngāti Awa Te Toki is an opportunity for the Iwi to come together through the medium of kapa haka, and in the spirit of whakawhanaungatanga. The festival comprises three sections: tamariki, whakangahau and competitive adult kapa haka.
NGĀ KAPA HAKA 3 Tamariki 13 Whakangahau 6 Competitive Ngāti Pūkeko were the winning hapū in the Ko Ngāti Awa Te Toki competitive adults’ section.
The standard of performances was of a high calibre and the commitment from the kapa was evident on stage and appreciated by an estimated 4,000 people who attended. We thank Te Roopū Ahi Kaa o Ngāti Awa, and acknowledge all hapū of Ngāti Awa for all their support.
HAPŪ DISTRIBUTION
Ngāti Hokopū and Ngāti Pukeko, were named the 2015 overall winners of the tamariki and adult sections respectively.
The annual Te Rūnanga o Ngāti Awa hapū distributions are paid on application to each of the 22 hapū.
Participation across
2005/2006
$1,100,0002
2006/2007
-
2007/2008
-
2008/2009
-
2009/2010
$200,000
2010/2011
$40,000
2011/2012
$135,000
2012/2013
$55,000
2013/2014
$165,000
2014/2015
$110,000
2015/2016
$107,000
Total
$1,912,000
Te Rūnanga o Ngāti Awa Distributed
$1.9 million to hapū 2006-2016. Top: Ngāti Pūkeko won the competitive adults’ section. Above: Ngāti Hokopū were the overall winners of the tamariki section.
Annual Report 2016
17
NGĀTI AWA GROUP HOLDINGS LTD
CHAIRMAN’S REPORT
18
Te Rūnanga o Ngāti Awa
The Ngāti Awa Group is committed to becoming a major economic force to further and support Ko Ngāti Awa Te Toki Vision - 2050 This is the first full year your board has had governance control of Ngāti Awa Group Holdings Limited and Ngāti Awa Asset Holdings Limited (together jointly referred to in this report as the “Ngāti Awa Group”). It is pleasing to advise during a period of significant challenge, excellent progress is being made in firstly stabilising and now focusing on future investment returns. The board completed a strategic review resulting in Te Rūnanga o Ngāti Awa (“Rūnanga”) approving five strategic priorities. These priorities are framed by the way your Ngāti Awa Group board is committed to doing things – transparently; prudently; and, collectively. Three of the five priorities reflect these values: • A Principled Operating Culture; • Outstanding People, Systems, and Processes; and, • Prudent Financial Management. The remaining two priorities focus on the direction of the business your directors are committed to: • A High Performing Diversified Portfolio: and, • Smart Effective Alliances. In summary, your board believe bringing a disciplined and principled investment approach to the oversight of your commercial assets will provide the greatest returns. Following the adoption of the Strategic Plan, the Ngāti Awa Group subsequently submitted, and had approved by the Rūnanga, its Annual Plan. The Chief Executive will report on the accomplishments against the plan in his report.
to the Financial Controller role in June. A chartered accountant, Geoff has a background in accounting, finance and business joining us following significant periods working in a “big four” accounting firm and two of New Zealand’s largest companies. • A strong inclusive relationship has been established between Ngāti Awa Group and Te Rūnanga o Ngāti Awa • A significant increase of 36% in profit levels; notwithstanding a more than halving of the milk price payout over the last two years from $8.40/ kgMS to $3.90/kgMS. This profit increase is partly attributable to revaluation gains, combined with cost reductions. Total Ngāti Awa Group expenses reduced by 8% from last year, with the significant contributors being Ngāti Awa Group overheads and farm expenses, which both reduced by 19%. • As signalled in last year’s report, the review of all existing investments has been completed and decisions made to liquidate those that do not meet the board’s threshold return rate. • The requirement for a new health and safety regime following enacting of the Health and Safety at Work Act, has meant an overhaul of the company’s systems and processes, to ensure compliance. The CEO has provided more detail on these and other Ngāti Awa Group activities that have taken place throughout the year, including a comprehensive sector analysis report. The board takes this opportunity to thank the management team and the Rūnanga staff, for their commitment and achievements in this challenging year. Ngāti Awa Group accomplishments are largely due to the time and effort they have put in.
Much has been achieved in a demanding year: • A new Ngāti Awa Group management team has been appointed, with Geoff Hamilton taking up the Ngāti Awa Group Chief Executive Officer position in February and Peter Thomas appointed
PAUL QUINN
Chairman Ngāti Awa Group Holdings Ltd
Annual Report 2016
19
NGĀTI AWA GROUP HOLDINGS LTD
CHIEF EXECUTIVE’S REPORT
20
Te Rūnanga o Ngāti Awa
Tēnā koutou kātoa, To introduce myself, I am a chartered accountant and have spent the past 18 years working for large commercial entities, including Spark (formerly Telecom). For eight years I managed a Spark start-up company, which eventually sold for $106 million. For the two years prior to starting this role, I was a financial consultant for F&P Finance. Originally from the Hawkes Bay, I have regularly hunted in and around Lake Waikaremoana and visited the Eastern Bay as part of my involvement in surf lifesaving. I am very lucky to be married to Mia, and be blessed with our son, Luke and daughter, Gabrielle. Mia looks forward to joining me in the Eastern Bay at the end of this year. In terms of the Ngāti Awa Group results mentioned, they have benefitted from some significant revaluation gains in the past year. Returns from the commercial group to the Rūnanga parent this year were $2m including the additional $0.5m capital return – the result of extending Te Whare Wānanga o Awanuiārangi lease. This is a pleasing result, and we are working hard to consistently improve returns to the Rūnanga. The consolidated Rūnanga group delivered a comprehensive profit of $4.7m for the year, compared with $3.6m last year. Revenue was down slightly at $6.0m, while costs (including the cost of goods sold) increased slightly to $8.3m, compared with $8.1m last year.
Ngāti Awa on behalf of Ngāti Hikakino and Ngai Te Rangihohiri II Hapū. Now that the title for this forest has been issued, the asset will be transferred, and associated liability will be extinguished.
Looking forward, the plan is simple – the commercial arm needs to consistently make more money. The operations of the Rūnanga need to cost less than the commercial arm generates, and ultimately, that will ensure more benefits flow to our membership. The first challenge for the commercial arm is to stabilise our income profile, in particular, our dairy income which has reduced $2.2m or 54% in the past two seasons, due to a declining dairy payout. In addition, other targets in the commercial Annual Plan include: • Improving the return on the assets we already own, such as re-developing the Army Drill Hall and seeking paying tenants for the Rūnanga offices. • Undertaking reviews of our operations and governance to ensure we are as efficient and effective as possible to deliver against our strategic goals.
Revaluations of livestock, some property assets, financial assets, investments and carbon credits contributed to $6.9m towards profit. This compares with $5.0m of revaluations last year.
• Seeking long-term growth opportunities which fit our expected returns and risk profile.
The largest revaluation occurred in our holding of carbon credits, which increased in price to $17.75/ NZ Unit from $6.80/NZ Unit last year, resulting in a year end carbon credit valuation of $8.5m. This annual revaluation is a requirement of the accounting standards. Unfortunately, carbon credits are not a productive asset, and we do not trade the market, meaning the increased value of this asset does nothing to increase our dividend distributions.
• Managing the Rūnanga Group finance function.
The consolidated Rūnanga group financial position increased to $114m up $3.6m from last year. Current Assets have increased to $26.9m reflecting the Rotoehu West Forest being held for distribution. The Rotoehu West Forest was held by Te Rūnanga o
• Investing in stable cash-flows to provide consistent and improved dividend returns.
A number of these objectives are already underway and provide for an exciting year ahead. My responsibilities are essentially, to protect and grow, the assets of Te Rūnanga o Ngāti Awa in collaboration with the Te Rūnanga o Ngāti Awa Chief Executive and various boards. I feel privileged to have this role. Ngā mihi
GEOFF HAMILTON
Chief Executive Te Rūnanga o Ngāti Awa
Annual Report 2016
21
NGĀTI AWA GROUP HOLDINGS LTD
BOARD OF DIRECTORS
Ngāti Awa Group Holdings Limited Directors Back (L-R) Geoff Hamilton (Chief Executive Officer), Peter Drummond, Paul Quinn (Chairman), Anthony de Farias, Tiaki Hunia and Hetaraka Hudson. Front (L-R) Debbie Birch and Regina O’Brien
22
Te Rūnanga o Ngāti Awa
TE RŪNANGA O NGĀTI AWA
FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2016
CONTENTS Directory of Officers
24
Statement of Comprehensive Revenue and Expense
25
Statement of Changes in Equity
26
Statement of Financial Position
27
Cash Flow Statement
28
Notes to the Financial Statements
29
Auditors’ Report
59
Remuneration and Payments
61
Annual Report 2016
23
TE RŪNANGA O NGĀTI AWA
Directory of Officers For the year ended 30 June 2016
Te Rūnanga o Ngāti Awa Representatives
M Araroa J Mason BP Quinn M Dodd TK Merito S Ratahi M Glen A Morrison M Sisley M Hepi S Nicholson A Tangitu (appointed 29/4/2016) K Hunia P Ngaropo M Tarau D Hunia R O’Brien M Wahapango A Kohunui T O’Brien H Hona (Ceased 26/02/2016) P Koopu M Paul Ngāti Awa Group Holdings Limited Directors D Birch AE De Farias PS Drummond HW Hudson T Hunia R O’Brien BP Quinn Ngāti Awa Asset Holdings Limited Directors D Birch AE De Farias PS Drummond HW Hudson T Hunia R O’Brien BP Quinn Ngāti Awa Farms Limited Directors AE De Farias BP Quinn T Hunia R O’Brien (ceased 21/4/2016) BDP Tatere (appointed 22/10/2015) L Stowell (ceased 21/4/2016) W Studer (ceased 21/4/2016) Ngāti Awa Forests Limited Directors HW Hudson T Hunia R O’Brien BP Quinn Ngāti Awa Properties Limited Directors HW Hudson T Hunia R O’Brien BP Quinn Ngāti Awa Fisheries Limited Directors HW Hudson T Hunia R O’Brien BP Quinn Ngāti Awa Investments Limited Directors D Birch HW Hudson BP Quinn
24
Te Rūnanga o Ngāti Awa
Ngāti Awa Community Development Trust Trustees M Glen (appointed 26/2/16) D Hunia (appointed 26/2/16) P Koopu (appointed 26/2/16) M Tarau (appointed 26/2/16) M Wahapango (appointed 26/2/16)
Ngāti Awa Research & Archives Trust Trustees TR Chapman-de Vos A Jaram J Mason H Mead P Ngaropo S Tutua Ngāti Awa Farms (Rangitaiki) Joint Venture Joint Venture Partners Ngāti Awa Farms Limited Putauaki Trust Ihukatia Trust Moerangi Kereua Ratahi Lands Trust Omataroa Rangitaiki No.2 Trust Rangitaiki 31P 3F Trust (also known as Kiwinui Trust) Directors AE De Farias T Hunia LD Stowell (ceased 21/4/16)
Manu Hou Limited Partnership Limited Partners Ngāti Awa Asset Holdings Limited Putauaki Trust Omataroa Rangitaiki No.2 Trust
Manu Hou GP Limited Directors D Birch CO Elliott HW Hudson T Hunia BP Quinn
Tumurau Limited Partnership Limited Partners Ngāti Awa Farms Limited Rangitaiki 31P 3F Trust (also known as Kiwinui Trust) Rotoehu Forest Trust Moerangi Kereua Ratahi Lands Trust Tumurau GP Limited Directors AE De Farias T Hunia WJ Studer (ceased 21/4/2016)
TE RŪNANGA O NGĀTI AWA
Statement of Comprehensive Revenue and Expense For the year ended 30 June 2016
Note
Group 2016 $000’s
2015 $000’s
Parent 2016 $000’s
2015 $000’s
Revenue Less: Cost of goods sold Gross Surplus
6
6,001 (1,232) 4,769
6,138 (990) 5,148
1,949 1,949
1,629 1,629
Net financing income Total revenue
7
161 4,930
518 5,666
508 2,457
554 2,183
Less expenses
8
(7,101)
(7,113)
(3,018)
(2,465)
Write back of impairment Fair value gain
9 10
1,987 1,199 1,015
20 3,832 2,405
10 (551)
(282)
11
26
-
-
-
989
2,405
(551)
(282)
12 12
938 51 989
2,748 (343) 2,405
(551) (551)
(282) (282)
12 12
411 3,282 3,693
10 1,165 1,175
-
-
4,682
3,580
(551)
(282)
4,488 194 4,682
3,944 (364) 3,580
(551) (551)
(282) (282)
Surplus/(deficit) before tax for the year Less tax expense Surplus/(deficit) for the year Attributable to: Equity holders of Te Rūnanga o Ngāti Awa Non-controlling interest
Other comprehensive revenue and expense Change in fair value of other financial assets designated as available-for-sale Gains on revaluation of intangible assets Total other comprehensive revenue and expense
Total comprehensive revenue and expense for the year Attributable to: Equity holders of Te Rūnanga o Ngāti Awa Non-controlling interest
12 12
The accompanying accounting policies and notes form part of the financial statements.
Annual Report 2016
25
TE RŪNANGA O NGĀTI AWA
Statement of Changes in Equity For the year ended 30 June 2016
Note
Group 2016 $000’s
2015 $000’s
Parent 2016 $000’s
2015 $000’s
101,526
97,582
83,336
83,618
Equity attributable to equity holders: Equity at the beginning of the year Surplus/(deficit) for the year
12
938
2,748
(551)
(282)
Other comprehensive revenue and expense: - Revaluation gains - Reclassification of impairment to surplus or deficit
12 12
3,550 -
903 293
-
-
3,550
1,196
-
-
Total other comprehensive revenue and expense Total comprehensive revenue and expense
12
4,488
3,944
(551)
(282)
Transactions with owners: - Distribution declared during the year
12
(500)
-
(500)
-
105,514
101,526
82,285
83,336
8,924
9,288
-
-
Te Rūnanga o Ngāti Awa equity at the end of the year Equity attributable to non-controlling interest: Equity at the beginning of the year Surplus/(deficit) for the year
12
51
(343)
-
-
Other comprehensive revenue and expense: - Revaluation gains/(losses) - Reclassification of impairment to surplus or deficit Total other comprehensive revenue and expense
12 12
(193) 172 (21)
-
-
Total comprehensive revenue and expense
12
143 143 194
(364)
-
-
Transactions with owners: - Distribution declared during the year
12
(600)
-
-
-
8,518
8,924
-
-
114,032
110,450
82,285
83,336
Non-controlling interest equity at the end of the year Total equity at the end of the year
The accompanying accounting policies and notes form part of the financial statements.
26
Te Rūnanga o Ngāti Awa
TE RŪNANGA O NGĀTI AWA
Statement of Financial Position As at 30 June 2016
Equity Reserves Accumulated revenue and expense Non-controlling interest Total equity Current assets Cash and cash equivalents Term deposits Trade and other receivables Livestock on hand Investments Other assets Assets held for distribution Non-current assets Investments Investment properties Biological assets Forestry assets Property, plant & equipment Intangible assets Fish quota Owing by subsidiaries
Group 2016 2015 $000’s $000’s 30,983 27,433 74,531 74,093 8,518 8,924 114,032 110,450
Note 13 12 12
14 15 16 17 27
17 20 21 22 23 24 24 31
Total assets
Parent 2016 $000’s 23,907 58,378 82,285
2015 $000’s 23,907 59,429 83,336
15,267 3,537 1,015 2,966 433 48 3,667 26,933
17,026 1,064 3,586 1,710 5 23,391
5 197 48 3,667 3,917
647 356 5 1,008
25,954 10,035 781 17,305 40,552 8,493 3,520 106,640
26,083 9,559 781 19,900 40,920 3,634 3,520 104,397
51,906 22,576 8,698 83,180
51,931 2,595 22,860 410 8,241 86,037
133,573
127,788
87,097
87,045
Current liabilities Trade and other payables Income received in advance Owing to subsidiaries Ngāti Hikakino and Ngai Te Rangihouhiri II Hapū Term loans
25 26 31 27 28
Non-current liabilities Income received in advance Term loans
1,524 1,426 3,667 468 7,085
1,143 1,298 3,005 45 5,491
845 70 230 3,667 4,812
691 13 3,005 3,709
26 28
4,301 8,155 12,456
3,464 8,383 11,847
-
-
19,541
17,338
4,812
3,709
114,032
110,450
82,285
83,336
Total liabilities Net assets attributable to equity holders
J Mason Chairman - 28 October 2016
L Simpson Chief Executive Officer - 28 October 2016
The accompanying accounting policies and notes form part of the financial statements.
Annual Report 2016
27
TE RŪNANGA O NGĀTI AWA
Cash Flow Statement For the year ended 30 June 2016
Group Cash flows from operating activities Cash provided from: Grant and funding income Interest income received Farming operations income Other operating receipts Rental income Māori tax credit refund received
Note
Cash applied to: Payments to suppliers and employees Grants paid Interest expense paid Income tax paid Net cash generated from/(used in) operating activities
29
Cash flows from investing activities Cash provided from: Dividend income received Realisation of bonds Proceeds from the sale of equities and return of capital Proceeds from sale of other assets Cash applied to: Purchase of livestock Purchase of investments Purchase of other non-current assets Net cash (used in)/generated from investing activities
Parent
2016 $000’s 289 684 2,284 1,738 2,563 212 7,770
2015 $000’s 62 937 3,477 591 1,521 900 7,488
2016 $000’s 230 267 295 42 212 1,046
2015 $000’s 44 350 213 68 900 1,575
6,473 272 456 26 7,227 543
6,185 192 419 30 6,826 662
2,970 272 3,242 (2,196)
1,532 404 1,936 (361)
965 3,433 4,398
4,000 6,709 27 10,736
1,001 35 1,036
1,000 1,000
465 5,530 233 6,228 (1,830)
293 699 364 1,356 9,380
9 9 1,027
116 116 884
158 173 331
154 350 504
158 174 493 825
154 13 167
600 158 45 803 (472)
154 154 350
140 158 298 527
4 154 158 9
(1,759) 17,026 15,267
10,392 6,634 17,026
(642) 647 5
532 115 647
Cash flows from financing activities Cash provided from: Income received on behalf of Ngāti Hikakino & Ngai Te Rangihouhiri Additional lending Loans from subsidiaries Repayment of loan advances to subsidiaries Cash applied to: Distributions paid to non-controlling interest Loans advanced to subsidiaries Repayment of funds to Ngāti Hikakino & Ngai Te Rangihouhiri Repayment of term loans Net cash (used in)/generated from financing activities Net (decrease)/increase in cash balances Cash balances at the beginning of the year Cash balances at the end of the year
14
The accompanying accounting policies and notes form part of the financial statements.
28
Te Rūnanga o Ngāti Awa
TE RŪNANGA O NGĀTI AWA
Notes to the Financial Statements For the year ended 30 June 2016 1 GENERAL INFORMATION
Te Rūnanga o Ngāti Awa (“the Rūnanga”) and its subsidiaries (together “the Group”) manage the cultural, social, political and economic base of the Ngāti Awa iwi. The Rūnanga was incorporated under the Te Rūnanga o Ngāti Awa Act 1988, which was subject to the Maori Trust Board Act 1955. Under Section 5 of Te Rūnanga o Ngāti Awa Act 2005, the Rūnanga ceased to be a Maori Trust Board from 25 March 2005, but continues as the same body as established by the Te Rūnanga o Ngāti Awa Act 1988. The Rūnanga is domiciled and operates in New Zealand. The address of the registered office is 10 Louvain Street, Whakatāne. The financial statements of the Rūnanga are for the year ended 30 June 2016. The financial statements were authorised for issue by the Chairman and Chief Executive Officer on behalf of the Board of Representatives on 28 October 2016.
2 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
The principal accounting policies applied in the preparation of these consolidated financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
A) BASIS OF PREPARATION
The Rūnanga is a registered charity under the Charities Act 2005 and its financial statements have been prepared in accordance with that Act and as required by the Charter of Te Rūnanga o Ngāti Awa. The Rūnanga is a public benefit entity (“PBE”) for the purposes of financial reporting. A PBE is an entity whose primary objective is to provide goods or services for community or social benefit and where any equity has been provided with a view of supporting that primary objective rather than for a financial return to equity holders. This is the first set of financial statements the Rūnanga has presented in accordance with PBE Standards Reduced Disclosure Regime (“PBE Standards RDR”). In adopting PBE Standards RDR the Rūnanga has taken advantage of a number of disclosure concessions. There were no other impacts on the current or prior year financial statements of the Rūnanga’s transition to PBE Standards RDR. The financial statements have been prepared in accordance with New Zealand Generally Accepted Accounting Practice (“NZ GAAP”). The financial statements comply with the
PBE Standards RDR as appropriate for Tier 2 not-for-profit public benefit entities, for which reduced disclosure regime concessions have been applied. The Rūnanga qualifies for Tier 2 as it has total expenses less than $30 million and does not have public accountability. The presentation currency of the group and the functional currency of the Rūnanga is New Zealand Dollars (NZD). The measurement base applied is historical cost, as modified by the revaluation of certain assets and liabilities as identified in these accounting policies. The Group consists of the Rūnanga and its subsidiaries, associates, and joint ventures as listed in Note 30, Investments in Subsidiaries and Joint Ventures. Basis of preparing consolidated financial statements
Subsidiaries Subsidiaries are those entities controlled, directly or indirectly, by the Rūnanga, that is, the Rūnanga has the power to govern the financial and operating policies of the entity so as to obtain benefits from their activities. The Rūnanga’s consolidated subsidiary companies generally have an accompanying shareholding of more than one half of the voting rights. The Rūnanga’s consolidated subsidiary trusts are where the Rūnanga appoints all the trustees of the trust and their activities are conducted on behalf of the Rūnanga. The results and financial position of subsidiaries are included in the consolidated statement of comprehensive revenue and expense and statement of financial position from the date control is gained up to the date control ceases. The financial statements of subsidiaries are included in the consolidated financial statements using the acquisition method. The consideration for the acquisition of a subsidiary is the fair values of the assets transferred, the liabilities incurred and the equity interest issued by the Rūnanga. The consideration transferred includes the fair value of any asset or liability resulting from a contingent consideration arrangement. Acquisition related costs are expensed as incurred. Identifiable assets acquired and liabilities and contingent liabilities assumed in a business combination are measured initially at their fair values at the acquisition date. On an acquisition-by-acquisition basis, the Rūnanga recognises any non-controlling interest in the acquiree either at fair value or at the non-controlling interest’s proportionate share of the acquiree’s net assets.
Annual Report 2016
29
2 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED) A) BASIS OF PREPARATION (CONTINUED)
The surplus or deficit and each component of other comprehensive revenue and expense of subsidiaries are attributed to equity holders of the Rūnanga and to the noncontrolling interests. Losses which result in non-controlling interests having a deficit balance are only attributed to noncontrolling interests if the non-controlling interests have a binding obligation and are able to make an additional investment to cover the losses.
Joint venture receivables The joint ventures are established by a contractual agreement. The Rūnanga’s share of the net surplus of the joint ventures is recognised in the statement of comprehensive revenue and expense. The investment held on the statement of financial position reflects the Rūnanga’s share of cash receivable from the joint venture.
Transactions eliminated on consolidation The effects of intra-group transactions are eliminated in preparing the consolidated financial statements.
B) REVENUE
Exchange transactions are transactions in which one entity receives assets or services, or has liabilities extinguished, and directly gives approximately equal value in exchange. The Rūnanga enters into a number of exchange and nonexchange transactions, and the specific accounting policies are set out below:
RENTAL INCOME
Rental income is recognised in surplus or deficit on a straight line basis over the term of the lease.
GRANT AND FUNDING INCOME
Grants and funding income (from the Government or other parties) are non-exchange transactions and are recognised in surplus or deficit when the Rūnanga becomes entitled to receive (or has received) the funds. The grants are recognised as revenue in the statement of comprehensive revenue and expense, except where conditions which require the grant to be used as specified or returned remain unfulfilled at balance date, in which case the related amount is recognised as a liability. In addition, a liability is recognised in respect of other return clauses (if any) where it is probable that payment will be required.
FARMING OPERATIONS INCOME
Farming operations income includes dairy income. Income is recognised in surplus or deficit when the revenue associated with the transactions can be measured reliably. Revenues from the sale of goods are recognised when the significant risks and rewards of ownership have been transferred, the Group retains neither involvement nor control over the goods sold, it is probable that economic benefits will flow to the Group and the costs incurred in respect of the transaction can be measured reliably.
30
Te Rūnanga o Ngāti Awa
DIVIDEND INCOME
Dividend income is recognised in surplus or deficit on the date the Group’s right to receive payment is established.
FAIR VALUE GAINS AND LOSSES
Fair value gains and losses are calculated as the difference between the fair value at sale, or at period end, and the fair value at the previous valuation point or cost. This includes both realised and unrealised gains and losses, but does not include interest or dividend income. Fair value gains and losses are recognised in surplus or deficit.
MĀORI AUTHORITY TAX CREDITS
The Group has Māori Authority status. Entities in the Group are tax exempt except for Ngāti Awa Asset Holdings Limited which has a tax liability of 17.5%. Taxes paid by Ngāti Awa Asset Holdings Limited generate Māori Authority Credits, which are tax credits available to pass onto its shareholder. Te Rūnanga o Ngāti Awa recognises a tax receivable from the IRD for the Māori Authority Credits received from Ngāti Awa Asset Holdings Limited in the period in which the credits have been distributed.
OTHER INCOME
Other income is recognised in surplus or deficit when the revenue associated with the transactions can be measured reliably for the rendering of goods and services. Revenue from the sale of goods are recognised when the significant risks and rewards of ownership have been transferred, the Group retains neither involvement nor control over the goods sold, it is probable that economic benefits will flow to the Group and the costs incurred in respect of the transaction can be measured reliably. Revenue for services provided under exchange transactions are recognised on a percentage of completion basis, as the services are provided.
NET FINANCING INCOME
Net financing income represents financing income less financing expenses. Financing income comprises interest income received on funds invested that are recognised in surplus or deficit. Financing expenses comprise interest paid on borrowings. Interest income is recognised in surplus or deficit as the income accrues on an effective interest basis. Any fees and directly related transaction costs that are an integral part of earning interest income are recognised over the expected life of the investment, that is, these costs are recognised evenly in proportion to the investment amount outstanding over the period to maturity.
C) EXPENSES OPERATING LEASES
Operating lease payments where the lessor effectively retains substantially all the risks and rewards of ownership of the leased items are included in equal instalments over the term of the lease and expensed to surplus or deficit. Lease incentives received are recognised over the term of the lease as an integral part of the total lease payments.
2 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED) GRANTS AND SPONSORSHIPS
Grants and sponsorship costs are recognised as an expense in surplus or deficit (and as a liability) when the R큰nanga has a constructive or actual obligation to make the payment. This is usually when the R큰nanga has entered into an agreement with, or otherwise notified the recipient of the agreed amount. The R큰nanga considers at each balance date whether it is probable that the recipient will be required to repay the grant or sponsorship under the terms and conditions of the agreement, in which case a receivable would be recognised and the grant expense reversed where this is recoverable.
D) TAXATION INCOME TAX
Income tax on surplus for the period relates to current tax. It is recognised in surplus or deficit as tax expense, except when it relates to items directly credited to equity, in which case it is recorded in equity, or where it arises from the initial accounting for a business combination, in which case it is included in the determination of goodwill. Current tax is the expected tax payable on taxable income for the period, based on tax rates (and tax laws) which are enacted or substantively enacted by the reporting date and including any adjustments for tax payable in previous periods. Current tax for current and prior periods is recognised as a liability (or asset) to the extent that it is unpaid (or refundable). Current tax assets and liabilities are offset only to the extent that they relate to income taxes imposed by the same taxation authority and there is a legal right and intention to settle on a net basis and it is allowed under tax law. Deferred tax assets and liabilities are recognised where the carrying amount of an asset or liability in the consolidated statement of financial position differs from its tax base, except for differences arising on: - The initial recognition of goodwill - The initial recognition of an asset or liability in a transaction which is not a business combination and at the time of the transaction affects neither accounting nor taxable profit, and - Investments in subsidiaries and jointly controlled entities where the R큰nanga is able to control the timing of the reversal of the difference and it is probable that the difference will not reverse in the foreseeable future.
E) CASH AND CASH EQUIVALENTS
Cash and cash equivalents includes deposits held at call with banks and other short term highly liquid investments.
F) TRADE AND OTHER RECEIVABLES
Trade and other receivables are recognised initially at fair value and subsequently measured at amortised cost on an effective interest basis, less provision for doubtful debts. Bad debts are written off during the year in which they are identified. A provision for impairment of trade and other receivables is established when there is objective evidence that the Group will not be able to collect all amounts due according to the original terms of receivables.
G) LIVESTOCK
Livestock is carried at fair value less point of sale costs, where fair value is based on the market price of livestock of similar age and gender. Gains and losses on changes in fair value are recognised in surplus or deficit. Livestock consists of sheep, cattle and other biological assets.
H) INVESTMENTS
Investments are carried at fair value unless they are not quoted in an active market and their fair value cannot be reliably measured. The fair value of such investments is reliably measurable where the variability in the range for a reasonable fair value estimate is not significant or probabilities of the various estimates within the range of fair values can be reasonably assessed and used in estimating fair value. Investments in subsidiaries are carried at cost.
I) INVESTMENT PROPERTIES
Investment properties are stated at fair value. Any movement on revaluation is recognised in surplus or deficit.
J) BIOLOGICAL ASSETS FARM WOODLOT
The Farm Woodlot asset represents standing trees at fair value less estimated point of sale costs. The farm woodlot asset is a consumable biological asset. The Group obtains an independent valuation of the Farm Woodlot asset every three years. Any movement in valuation is recognised in the statement of comprehensive revenue and expense in surplus or deficit.
K) FORESTRY LAND ASSETS
Forestry land assets represent the land assets owned with long term licences to forestry companies. Forestry land assets are stated at fair value. Any movement in fair value is recognised in the statement of comprehensive revenue and expense in surplus or deficit.
Recognition of deferred tax assets is restricted to those instances where it is probable that taxable profit will be available against which the difference can be utilised.
Annual Report 2016
31
2 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED) L) INTANGIBLE ASSETS CARBON CREDITS
Intangible assets include carbon credits acquired by way of a Government grant and are recognised at fair value. Increases in the carrying amount arising on revaluation are credited to other comprehensive revenue and expense except to the extent they reverse a previous decrease recognised in surplus or deficit. Decreases in the carrying amount arising on revaluation are recognised in other comprehensive revenue and expense to the extent they reverse a previous increase, any further decrease will be recognised in surplus or deficit.
FISH QUOTA
Fish quota shares received by way of settlement are recognised at their fair value at the date of settlement and subsequently carried at cost less impairment. Fish quota is issued into perpetuity and therefore has an indefinite life. Given this, fish quota is not amortised, although it is tested annually for impairment.
M) PROPERTY, PLANT & EQUIPMENT
All owned items of property, plant and equipment are recorded at cost less accumulated depreciation and impairment losses with the exception of the Ngāti Awa Farm which is recorded at deemed cost. Subsequent costs are included in the asset’s carrying amount or recognised as a separate asset, as appropriate, only when it is probable that future economic benefits or service potential associated with the item will flow to the Group and the cost of the item can be measured reliably. Increases in the carrying amount arising on revaluation of a class of property, plant & equipment are credited to asset revaluation reserve in equity except to the extent they reverse a previous decrease recognised in the surplus or deficit for that class. Decreases that offset previous increases of that class are charged against asset revaluation reserves directly in equity, all other decreases are charged to the statement of comprehensive revenue and expense in surplus or deficit.
Cultural assets The cultural assets category includes carvings and flax tukutuku, these assets have been recorded at deemed cost. Te Mānuka Tūtahi Marae is carried at an assigned value on receipt from the Crown plus capital improvements. As cultural assets tend to have an indefinite life and are generally not of a depreciable nature, depreciation is not applicable.
32
Te Rūnanga o Ngāti Awa
N) DEPRECIATION
Depreciation is recognised in the statement of comprehensive revenue and expense in surplus or deficit on a straight-line basis over the estimated useful lives of each part of an item of property, plant and equipment. Depreciation is used to allocate the cost (deemed cost), less any residual value, over an asset’s useful life. Land and cultural assets are not depreciated. The estimated useful lives for the current and comparative periods are as follows: Buildings Motor vehicles Office furniture & equipment Farm equipment Cultural assets
40
years
3 - 15
years
3 - 10
years
3 - 20
years
n/a
Depreciation methods, useful lives and residual values are reassessed at every reporting date.
O) FINANCIAL ASSETS Classification The Group classifies its financial assets as “financial assets at fair value through surplus or deficit”, “loans and receivables”, and “other financial assets designated as available-forsale”. The classification depends on the purpose for which financial assets were acquired. Management determines the classification of its financial assets at initial recognition and re-evaluates this designation at every reporting date.
(i) Financial Assets at Fair Value through Surplus or Deficit
Financial assets designated at fair value through surplus or deficit at inception are financial instruments that are not classified as held for trading but are managed, and their performance is evaluated on a fair value basis in accordance with the Group’s documented investment strategy.
(ii) Loans and Receivables
Loans and receivables are non-derivative financial assets with fixed or determinable payments that are not quoted on an active market. They arise when the Group provides money, goods, or services directly to a debtor with no intention of selling the receivable. They are included in current assets, except for those with maturities of greater than twelve months after the statement of financial position date which are classified as non-current assets. Loans and receivables are included in trade and other receivables and owing by subsidiaries in the statement of financial position.
2 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED) (iii) Other Financial Assets Available-For-Sale
Designated
as
Other financial assets designated as available-for-sale are non-derivatives that are either designated in this category or not classified in any of the other financial asset categories. They are included in non-current assets unless management intends to dispose of the investment within twelve months of the balance date.
Recognition and measurement Purchases and sales of financial assets are recognised on trade date - the date on which the Group commits to purchase or sell the asset. Investments are initially recognised at fair value plus transaction costs for all financial assets not carried at fair value through surplus or deficit. Financial assets carried at fair value through surplus or deficit are initially recognised at fair value, and transaction costs are expensed in surplus or deficit. Financial assets are de-recognised when rights to receive cash flows from the financial assets have expired or have been transferred and the Group has substantially transferred all the risks and rewards of ownership. Financial assets carried at fair value through surplus or deficit are subsequently carried at fair value. Loans and receivables are carried at amortised cost. Realised and unrealised gains and losses arising from changes in the fair value of the financial assets are included in surplus or deficit in the period in which they arise. Changes in the fair value of other financial assets classified as available-forsale are recognised in the revaluation reserve unless there are permanent impairment losses which are recognised directly in surplus or deficit. When securities are sold or impaired, the accumulated fair value adjustments are included in surplus or deficit. The Group assesses at each balance date whether there is objective evidence that a financial asset or group of financial assets is impaired. In the case of equity and fixed interest securities classified as other financial assets designated as available-for-sale, a significant or prolonged decline in the fair value of a security below its cost is considered in determining whether the security is impaired. If any such evidence exists for other financial assets, the cumulative loss (measured as the difference between the acquisition cost and the current fair value, less any impairment loss on that financial asset previously recognised in surplus or deficit) is removed from equity and recognised in surplus or deficit. Impairment losses recognised on equity instruments are not reversed through surplus or deficit.
P) MEASUREMENT OF NON-FINANCIAL ASSETS
The carrying amounts of the Group’s non-financial assets are reviewed at each balance date to determine whether there is any indication of impairment. If any such indication exists, the recoverable amount or recoverable service amount (“recoverable amount�) of the asset is estimated. If the estimated recoverable amount of an asset is less than its carrying amount, the asset is written down to its estimated recoverable amount and an impairment loss is recognised in the statement of comprehensive revenue and expense in surplus or deficit. The estimated recoverable amount of assets is the greater of their fair value less costs to sell and value in use. For assets which are held for a commercial return, value in use is determined by estimating future cash flows from the use and ultimate disposal of the asset and discounting these to their present value using a pre-tax discount rate that reflects current market rates and the risks specific to the asset. For an asset that does not generate largely independent cash flows, the recoverable amount is determined for the cash generating unit to which the asset belongs. For assets which are not held for a commercial return, value in use is determined by estimating the depreciated replacement cost of the asset. The depreciated replacement cost is measured as the reproduction or replacement cost of the asset, whichever is lower, less accumulated depreciation calculated on the basis of such cost, to reflect the already consumed or expired service potential of the asset. An impairment loss on non-financial assets which are carried at fair value is applied to the other comprehensive revenue and expense but only to the extent that prior year gains are available to offset the impairment loss. All other impairment losses are recognised in statement of comprehensive revenue and expense in surplus or deficit.
Q) TRADE AND OTHER PAYABLES
Trade and other payables are measured initially at fair value and subsequently at amortised cost using the effective interest method.
R) TERM LOANS
Term loans are recognised initially at fair value, net of transaction costs incurred. Term loans are subsequently stated at amortised cost. If the Group does not have an unconditional right to defer payment of a liability for at least twelve months after balance date, then the term loan will be classified as a current liability.
Annual Report 2016
33
2 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED) S) CONCESSIONARY LOANS
When the Group receives a loan at an interest rate that is lower than market terms, this is a concessionary loan. The difference between the loan proceeds and the fair value of the loan, calculated using market terms, is recognised as revenue if there are no conditions attached to the loan. To the extent that there are conditions attached to the loan that would result in early repayment of the loan if these conditions are not satisfied, a deferred revenue liability for the amount of the difference between the loan proceeds and the fair value of the loan is recognised. Revenue is then recognised in surplus or deficit as the Group satisfies these conditions.
T) EMPLOYEE BENEFITS Salaries, wages, annual leave, and sick leave Liabilities for wages and salaries, including non-monetary benefits, annual leave and accumulated sick leave expected to be settled within twelve months of reporting date, are recognised in other payables in respect of employees’ services up to the reporting date and are measured at the amounts expected to be paid when the liabilities are settled. Liabilities for non-accumulating sick leave recognised when the leave is taken and measured at the rates paid or payable.
Long service leave Long service leave benefits are accrued in other payables using the present value of net future cash flows.
U) GOODS AND SERVICES TAX
These financial statements have been prepared on a basis exclusive of GST with the exception of trade receivables and trade payables that have been included on a GST inclusive basis.
V) COMPARATIVE AMOUNTS
Comparative amounts are from the audited financial statements for the year ended 30 June 2015.
These amendments to PBE IPSAS 23 provide relief for entities with respect to donated goods in-kind that meet the definition of inventories in PBE IPSAS 12 and where it is not practicable to measure reliably the fair value of those goods at the date of acquisition. These amendments are effective for annual periods beginning on or after 1 January 2016. The representatives of the Rūnanga have not yet assessed the potential impact on the Group’s consolidated financial statements.
2015 Omnibus Amendments to PBE Standards These amendments have arisen to align the PBE Standards with NZ IFRS and IPSAS as a consequence of the IASB and the IPSASB’s annual improvement amendments in various accounting standards, including PBE IPSAS 1, PBE IPSAS 16, PBE IPSAS 17, PBE IPSAS 20, PBE IPSAS 28, PBE IPSAS 31, PBE IPSAS 34, PBE IFRS 3, PBE IFRS 5 and PBE FRS 47. The representatives of the Rūnanga have not yet assessed the potential impact on the Rūnanga’s financial statements and Group’s consolidated financial statements.
4 FAIR VALUE ESTIMATION
The fair value of financial instruments traded in active markets is based on quoted market prices at the statement of financial position date. The quoted market price used for financial assets held by the Group is based on the current bid price. The fair value of financial assets that are not traded in an active market is determined by using valuation techniques. The Group uses a variety of methods and makes assumptions that are based on market conditions existing at balance date. Techniques include estimated discounted cash flows which are used to determine fair value for the financial instruments with no quoted market price.
3 NEW AND AMENDED STANDARDS IN ISSUE BUT NOT YET EFFECTIVE
The face value less impairment provision of trade receivables and payables are assumed to approximate their fair values. The fair value of financial liabilities for disclosure purposes is estimated by discounting the future contractual cash flows at the current market interest rate that is available to the Group for similar financial instruments.
Disclosure Initiative (Amendments to PBE IPSAS 1)
5 CRITICAL ACCOUNTING ESTIMATES AND JUDGEMENTS
The Group has not applied the following new and revised PBE Standards that have been issued but are not yet effective:
The amendments to PBE IPSAS clarify the existing requirements that relate to materiality, order of the notes, subtotals, accounting policies and disaggregation. The amendments aim to encourage PBEs to apply professional judgment in determining what information to disclose in their financial statements. These amendments are effective for annual periods beginning on or after 1 January 2016. The representatives of the Rūnanga do not anticipate that the application of these amendments to PBE IPSAS 1 will have a material impact on the Group’s consolidated financial statements.
34
Donated Goods (Amendments to PBE IPSAS 23)
Te Rūnanga o Ngāti Awa
Estimates and judgments are continually evaluated and are based on historical experience and other factors, including expectations of future events and are believed to be reasonable under the circumstances. The Group makes estimates and assumptions concerning the future. The resulting accounting estimates will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are discussed below.
5 CRITICAL ACCOUNTING ESTIMATES AND JUDGEMENTS (CONTINUED) Impairment
Investments
Investment property
Forestry land
The Group tests annually whether an asset is impaired by assessing whether events or circumstances indicate the carrying value may not be recoverable. Indefinite life intangibles and intangibles not yet available for sale are tested for impairment annually. The fair value of investment property is determined periodically by a combination of independent valuers and internally assessed investment models. Key assumptions have been disclosed in Note 20.
The fair value of investments that are not traded in an active market are determined by using valuation techniques. The Group uses its judgement to select a variety of methods and make assumptions that are mainly based on market conditions existing at each statement of financial position date. The Group has used discounted cash flow analyses for various financial assets that were not traded in active markets. Forestry land assets are held at fair value determined periodically using internally assessed investment models. Key assumptions have been disclosed in Note 22.
6 REVENUE
Grant income Dividend income Farming operations income Rental income Māori authority tax credit refund Other income
Group 2016 $000’s 219 927 2,500 1,711 644 6,001
2015 $000’s 62 771 2,891 1,699 214 501 6,138
Parent 2016 $000’s 160 1,501 42 246 1,949
2015 $000’s 44 1,001 68 212 304 1,629
Group 2016 $000’s 684 684
2015 $000’s 937 937
Parent 2016 $000’s 508 508
2015 $000’s 554 554
7 NET FINANCING INCOME
Interest income Total financing income Interest expense Total financing expense Net financing income
523 523 161
419 419 518
508
554
Annual Report 2016
35
8 EXPENSES Group 2016 $000’s Administration fees Audit, Finance and Risk Committee Auditors remuneration (PricewaterhouseCoopers) - Audit fees - Fees for other assurance services - Advisory services relating to investment performance - Assistance with financial statement preparation Bad debts Board members fees and expenses Catering Celebrations Consultants fees - Accounting and tax - Farm advisory - Legal - Other Depreciation / amortisation Farming operations expenditure Fixed asset sale loss Grants and sponsorships Insurance Operating leases Power & heating Rates Rent Repairs & maintenance Telecommunication expenses Travel and accommodation Vehicle Wages and salaries Other expenses
36
Te Rūnanga o Ngāti Awa
2015 $000’s
Parent 2016 $000’s
2015 $000’s
246 35
187 50
39 11
31
155 -
118 6
25 -
25 -
-
38
-
-
19 174 52 506 39 68 521 24 244 367 594 832 7 210 145 212 145 228 3 286 35 62 70 1,560 436 7,101
162 27 399 51 159 376 33 195 304 577 1,488 192 152 163 142 200 3 277 28 38 85 1,311 514 7,113
25 7 213 39 68 23 171 228 292 1 210 44 20 6 39 35 31 29 17 1,219 251 3,018
25 27 152 49 159 29 154 291 404 78 23 7 39 27 14 22 20 619 295 2,465
9 (IMPAIRMENT) / WRITE BACK OF IMPAIRMENT During the year the Group recognised the following impairments and write back of impairments of its assets.
Note Carbon credit write back of impairment Fonterra Co-operative Group Limited shares impairment
24
Group 2016 $000’s
2015 $000’s
Parent 2016 $000’s
2015 $000’s
1,987
485
-
-
1,987
(465) 20
-
-
10 FAIR VALUE GAIN / (LOSS) During the year the Group and Rūnanga recognised the following movements in its assets recognised at fair value.
Note Listed shares Unlisted shares Forestry land revaluation Investment properties revaluation Livestock movement Other
22 20 16
Group 2016 $000’s (747) 1,306 476 147 17 1,199
2015 $000’s
Parent 2016 $000’s
1,917 153 715 971 272 (196) 3,832
10 10
2015 $000’s -
11 TAX EXPENSE Reconciliation of the prima facie income tax payable on surplus with the income tax expense charged: Group 2016 $000’s Surplus/(deficit) before tax for the year Exempt deficit from charitable activities Taxable surplus/(deficit) before tax for the year Income tax expense at 17.5% on taxable surplus, (2015: 17.5%) Non-taxable revenue Imputation credits Income tax expense/(credit)
2015 $000’s
Parent 2016 $000’s
2015 $000’s
1,015 216 1,231
2,405 458 2,863
(551) 551 -
(282) 282 -
215
501
-
-
(43) (146) 26
(341) (160) -
-
-
Annual Report 2016
37
12 EQUITY Group 30 June 2016 Balance at the beginning of the year Surplus/(deficit) for the year Revaluation gains/(losses) - Bond portfolio - Carbon credits - Fonterra Co-operative Group Limited shares Transactions with owners - Distribution during the year Balance at the end of the year
NonControlling Interest
Asset Revaluation Reserves
Other Reserves
Accumulated Revenue and Expense
Total Equity
$000’s
$000’s
$000’s
$000’s
$000’s
8,924 51
11,570 -
15,863 -
74,093 938
110,450 989
-
43 3,282
-
-
43 3,282
143
225
-
-
368
(600) 8,518
15,120
15,863
(500) 74,531
(1,100) 114,032
9,288 (343)
10,374 -
15,863 -
71,345 2,748
106,870 2,405
-
54 1,165
-
-
54 1,165
(193)
(316)
-
-
(509)
172 8,924
293 11,570
15,863
74,093
465 110,450
Balance at the beginning of the year Distribution during the year Surplus/(deficit) for the year Balance at the end of the year
-
8,044 8,044
15,863 15,863
59,429 (500) (551) 58,378
83,336 (500) (551) 82,285
30 June 2015 Balance at the beginning of the year Surplus/(deficit) for the year Balance at the end of the year
-
8,044 8,044
15,863 15,863
59,711 (282) 59,429
83,618 (282) 83,336
30 June 2015 Balance at the beginning of the year Surplus/(deficit) for the year Revaluation (losses)/ gains - Bond portfolio - Carbon credits - Fonterra Co-operative Group Limited shares Impairment charge to statement of comprehensive revenue and expense Balance at the end of the year Parent 30 June 2016
38
Te Rūnanga o Ngāti Awa
13 RESERVES
Asset revaluation reserves Other reserves
Reserves are comprised of: Group 30 June 2016 Aotearoa Fisheries Limited unlisted shares Bonds portfolio Capital contributions Farm land and buildings Fonterra shares Froude Street Mataatua Wharenui Other financial assets Te Mānuka Tūtahi Carbon credit revaluation
30 June 2015 Aotearoa Fisheries Limited unlisted shares Bonds portfolio Capital contributions Farm land and buildings Fonterra shares Froude Street Mataatua Wharenui Other financial assets Te Mānuka Tūtahi Carbon credit revaluation
Group 2016 $000’s
2015 $000’s
Parent 2016 $000’s
2015 $000’s
15,120 15,863 30,983
11,570 15,863 27,433
8,044 15,863 23,907
8,044 15,863 23,907
Asset Revaluation Reserves $000’s
Other Reserves
Total Reserves
$000’s
$000’s
2,082 323 7,459 225 585 4,446 15,120
12 2,013 50 13,326 2 460 15,863
2,082 323 12 9,472 225 50 13,326 2 1,045 4,446 30,983
2,082 280 7,459 585 1,164 11,570
12 2,013 50 13,326 2 460 15,863
2,082 280 12 9,472 50 13,326 2 1,045 1,164 27,433
7,459 585 8,044
12 2,013 50 13,326 2 460 15,863
12 9,472 50 13,326 2 1,045 23,907
7,459 585 8,044
12 2,013 50 13,326 2 460 15,863
12 9,472 50 13,326 2 1,045 23,907
Parent 30 June 2016 Capital contributions Farm land and buildings Froude Street Mataatua Wharenui Other financial assets Te Mānuka Tūtahi
30 June 2015 Capital contributions Farm land and buildings Froude Street Mataatua Wharenui Other financial assets Te Mānuka Tūtahi
Annual Report 2016
39
13 RESERVES (CONTINUED) Froude Street Reserve This reserve represents the value of the land situated at Froude Street, Rotorua and subsequent revaluations to market value.
Te Mānuka Tūtahi Reserve This reserve represents assets at valuation vested in the Rūnanga in 1996 by the Crown and subsequent revaluations to market value.
Mataatua Wharenui Reserve This reserve includes the cost to the Crown of purchasing the Mataatua Wharenui ($2.75 million) and subsequent capital expenditure spent on the return and restoration of the Mataatua Wharenui and establishment of associated buildings.
Farm Assets Reserve This reserve represents the value of Ngāti Awa Farm assets transferred from the Crown, and subsequent revaluations to market value of the farm land and buildings.
14 CASH AND CASH EQUIVALENTS
Bank On-call deposits Short term deposits
Group 2016 $000’s
2015 $000’s
Parent 2016 $000’s
2,407 1,413 11,447 15,267
3,402 2,715 10,909 17,026
5 5
Group 2016 $000’s
2015 $000’s
2015 $000’s 146 501 647
15 TRADE AND OTHER RECEIVABLES
Trade and other receivables Māori authority tax credit Taxation receivable GST receivable
929 54 32 1,015
831 212 21 1,064
Parent 2016 $000’s 154 43 197
2015 $000’s 95 212 49 356
There are no non-exchange trade and other receivables.
16 LIVESTOCK ON HAND Group 2016 $000’s Cattle Sheep Other livestock
Movements are represented as follows: Balance at the beginning of the year Increase due to acquisitions Decrease due to sales Increase due to births/(deaths) Change in fair value Balance at the end of the year
40
Te Rūnanga o Ngāti Awa
2015 $000’s
Parent 2016 $000’s
2,734 232 2,966
3,357 226 3 3,586
-
-
3,586 465 (1,232) 271 (124) 2,966
4,011 293 (990) 309 (37) 3,586
-
-
2015 $000’s
16 LIVESTOCK ON HAND (CONTINUED) At 30 June 2016, livestock held for sale comprised 554 cattle (2015: 529) and 2,074 sheep (2015: 2,102). During the year ended 30 June 2016, the Group sold 399 cattle (2015: 214) and 1,998 sheep (2015: 2,181). At 30 June 2016, dairy livestock held comprised 1,824 dairy cattle (1,121 cows & 703 heifers) (2015: 1,960 dairy cattle (1,471 cows & 489 heifers). During the year ended 30 June 2016, the Group sold 352 dairy cattle (2015: 295).
17 INVESTMENTS Group 2016 Current Assets
Note
- Bonds - Unit Trusts
2015
Parent 2016
2015
$000’s
$000’s
$000’s
$000’s
-
997
-
-
433
713
-
-
433
1,710
-
-
3,074
2,999
-
-
Non-Current Assets - Bonds - Listed shares - Unlisted shares
18
- Listed shares - JB Were - Subsidiaries - Joint Ventures
19
- Limited Partnership
3,158
2,838
-
25
4,144
5,835
-
-
14,832
13,677
-
-
-
-
51,906
51,906
158
146
-
-
588
588
-
-
25,954
26,083
51,906
51,931
The unit trusts classified as a current asset relate to the investment in the Taurus Resources Fund No.2 Ltd. It is the Group’s intention to realise all investments in the Unit Trust over the next 12 months. The amounts realised may vary from the current valuation, depending on the realised price at the date of sale. The Unit Trust has been valued based on the market value of the tradeable shares held in the Trust. The Limited Partnership is an investment vehicle which was formed to invest into crayfish quota. The fair value of the investment is based on cash flows calculated on an annual basis from 2017 to 2021 and a terminal value based on cash flows in 2021 with an assumed growth factor of 1.5% p.a. (2015: 2.7%) and a post-tax discount rate of 5.6% (2015: 8.1%).
18 INVESTMENTS IN UNLISTED SHARES Investment in unlisted shares includes Aotearoa Fisheries Limited shares (“the AFL shares”) that were received on 30 March 2006 as part of the settlement proceeds in accordance with the Māori Fisheries Act 2004. The Māori Fisheries Act 2004 places restrictions on the sale of the AFL shares where the shares can only be sold to either another Mandated Iwi Organisation or Te Ohu Kai Moana. The fair value of the AFL income shares is based on cash flows calculated on an annual basis from 2017 to 2021 and a terminal value based on cash flows in 2021 with an assumed growth factor of 1.46% p.a. (2015: 2.7% p.a.) and a post-tax discount rate of 5.6% (2015: 6.4%). The AFL shares are not actively traded and have no voting rights. The shares have been valued at $2.08 million (2015: $2.08 million). The Group has invested in Direct Capital IV Limited Partnership. Direct Capital IV invests in private equity opportunities with the intention of realising these investments and returning capital and capital gains to the partners over a 10 year time frame. There is no active market for shares in Direct Capital IV therefore the fair value has been calculated using an EBITDA multiple approach of the underlying investments held by Direct Capital IV. The manager of Direct Capital IV Limited Partnership applies Australian Venture Capital & Private Equity Association (AVCAL) valuation guidelines in preparing quarterly valuations for all portfolio companies. The Partnership is valued at $2.06 million (2015: $3.75 million). During the year the Partnership repaid capital of $3.01 million to the Group (2015: $2.53 million).
Annual Report 2016
41
19 INVESTMENTS IN JOINT VENTURES Group 2016 $000’s Mataatua Fisheries Collective Receivable
2015 $000’s
Parent 2016 $000’s
2015 $000’s
158
146
-
-
146 12 158
146 146
-
-
Mataatua Fisheries Collective Receivable Balance of Joint Venture Receivable Balance at the beginning of the year Share of net surplus Balance at the end of the year
The Mataatua Fisheries Collective Receivable relates to the monies held on behalf of the Group by the Mataatua Fisheries Collective. The receivable has been included as at the annual balance date of the Mataatua Fisheries Collective of 31 March 2016. The Mataatua Fisheries Collective (“Collective”) is an unincorporated joint venture between iwi in the Mataatua rohe to lease fish quota to maximise returns. The Collective pays the Mataatua Quota ACE Holdings Limited a commission to undertake the leasing on its behalf. The joint venture has a different balance date from the Group due to the joint venture having a standard balance date which is aligned with the income tax year. The commencement of the fishing season for the majority of fish stocks begins in April with new fish leasing arrangements.
20 INVESTMENT PROPERTIES Group 2016 $000’s Investment Properties
2015 $000’s
Parent 2016 $000’s
10,035
9,559
-
-
9,559 476 10,035
8,588 971 9,559
-
-
2015 $000’s
Movements in Investment Properties are Represented as Follows: Balance at the beginning of the year Revaluation gains Balance at the end of the year
Residential properties on Wairaka and Toroa Streets were independently valued as at 30 June 2014 by Boyes James McKay Limited. The valuation was based on market evidence of transactions for similar properties and direct comparison. The properties were not independently revalued in 2016. For the 2016 financial statements management assessed the values using Quotable Value growth rates for the Whakatāne District (17.3% growth from June 2014 to June 2016). In addition the valuation was assessed using an assumed rental yield of 6%, and concluded no change in valuation was required. Other investment properties were independently valued as at 30 June 2015 by Bay Valuation Services. The valuation used a mixture of market evidence of transactions for similar properties, capitalisation rate and discounted cash flow approaches. The fair value of investment properties were based on a capitalisation rate which ranged from 7.3% to 12% in 2015. The properties were not independently revalued in 2016. For the 2016 financial statements management assessed the values using an assumed rental yield of 6% for those properties that are tenanted and concluded no change in valuation was required. The 2014 and 2015 valuers are independent registered valuers not related to the Group. All valuers hold recognised and relevant professional qualifications and have recent experience in the locations of the investment property they have valued. The rent on Whakatāne, Ohope, and Apanui Schools were reviewed in April 2016 as per the respective rental agreements with the Ministry of Education. The initial valuations received by Ngāti Awa Properties and the Ministry of Education indicated a difference in the value of each of the three properties. As a consequence a subsequently negotiated mid-point between the two valuations is adopted as the fair market value in these financial statements.
42
Te Rūnanga o Ngāti Awa
20 INVESTMENT PROPERTIES (CONTINUED) Investment Properties comprise: Land and Buildings 1-3 Toroa Street 5-7 Toroa Street 9-11 Toroa Street 13-17 Toroa Street 64 Wairaka Street
Land Te Whare Wānanga O Awanuiārangi Apanui School Army Hall Ohope Beach School Ohope Beach Holiday Park Whakatāne High School Whakatāne Court House
Total investment properties
Group 2016 $000’s 320 435 210 680 270 1,915
2015 $000’s 320 435 210 680 270 1,915
Parent 2016 $000’s -
168 1,666 1,400 1,000 895 2,300 691 8,120
240 1,580 1,400 809 895 2,125 595 7,644
-
-
10,035
9,559
-
-
2015 $000’s -
21 BIOLOGICAL ASSETS Group 2016 $000’s
2015 $000’s
Parent 2016 $000’s
2015 $000’s
Pine Woodlot Assets
781
781
-
-
Movements are represented as follows: Balance at the beginning of the year Balance at the end of the year
781 781
781 781
-
-
The pine woodlot was independently valued on 30 June 2014 by PF Olsen Limited. The valuation used a discounted cash flow method with a post tax discount rate of 7.0% and an inflation rate of 2%. Management undertook a valuation at 30 June 2016. The key assumptions used are an increase the log price revenue based on the Ministry for Primary Industries historical forestry wood prices of 35% (from 2014 to 2016), and a post tax discount rate of 6.9%. Management concluded no change in valuation was required.
22 FORESTRY LAND ASSETS Group 2016 $000’s
2015 $000’s
Parent 2016 $000’s
2015 $000’s
Forestry Land Assets Movements are represented as follows:
17,305
19,900
-
2,595
Balance at the beginning of the year Revaluation gains Reclassified to assets held for distribution Balance at the end of the year
19,900 (2,595) 17,305
19,024 876 19,900
2,595 (2,595) -
2,434 161 2,595
The forestry land assets were independently valued on 30 June 2015 by Telfer Young (Rotorua) Limited. The valuation used a mixture of market evidence of transactions for similar assets, direct comparison, capitalisation and discounted cash flow approaches. Management undertook a desktop valuation in 2016 at a post tax discount rate of 6.9% (2015: 7.3%) and determined forestry land assets are held at fair value. The Group leases forestry land to various counterparties for terms of 35 years and accounts for these as operating leases.
Annual Report 2016
43
23 PROPERTY, PLANT & EQUIPMENT Group 30 June 2016
$000’s
$000’s
$000’s
Office Equipment & Plant $000’s
Balance at the beginning of the year Additions (cost) Disposals (NBV) Depreciation Balance at the end of the year
Cost 23,382 (12) 23,370
Cost 8,350 22 (349) 8,023
Cost 240 24 (7) (44) 213
Cost 1,922 199 (201) 1,920
Cost or valuation Accumulated impairment losses Accumulated depreciation Net book value
23,370 23,370
10,116 (2,093) 8,023
449 (236) 213
3,440 (120) (1,400) 1,920
Group 30 June 2016
44
Land
Buildings
Forest Carbon Sinks $000’s
Motor Vehicles
Cultural Assets
Total
$000’s
$000’s
Balance at the beginning of the year Additions (cost) Disposals (NBV) Depreciation Balance at the end of the year
Cost -
Cost 7,026 7,026
Cost 40,920 245 (19) (594) 40,552
Cost or valuation Accumulated impairment losses Accumulated depreciation Net book value
1,763 (1,763) -
7,026 7,026
46,164 (1,883) (3,729) - 40,552
Te Rūnanga o Ngāti Awa
23 PROPERTY, PLANT & EQUIPMENT (CONTINUED)
30 June 2015
$000’s
$000’s
$000’s
Office Equipment & Plant $000’s
Cost as at 1 July 2014 Accumulated impairment at 1 July 2014 Accumulated depreciation at 1 July 2014 Balance at the beginning of the year Additions (cost) Disposals (NBV)
Cost 23,376 23,376 6 -
Cost 8,845 (1,244) 7,601 135 -
Cost 664 (372) 292 9 (10)
Cost 3,999 (117) (1,017) 2,865 214 (17)
Transferred (to)/from other categories Depreciation Balance at the end of the year
23,382
958 (344) 8,350
(51) 240
(958) (182) 1,922
Cost or valuation Accumulated impairment losses Accumulated depreciation Net book value
23,382 23,382
10,094 (1,744) 8,350
663 (423) 240
3,238 (117) (1,199) 1,922
Group
Group
Land
Buildings
Forest Carbon Sinks $000’s
Motor Vehicles
Cultural Assets
Total
$000’s
$000’s
Cost 1,763
Cost 7,026
Cost 45,673
Accumulated impairment at 1 July 2014 Accumulated depreciation at 1 July 2014 Balance at the beginning of the year Additions (cost) Disposals (NBV) Depreciation Balance at the end of the year
(1,763) -
7,026 7,026
(1,880) (2,633) 41,160 364 (27) (577) 40,920
Cost or valuation Accumulated impairment losses Accumulated depreciation Net book value
1,763 (1,763) -
7,026 7,026
46,166 (1,880) (3,366) 40,920
30 June 2015 Cost as at 1 July 2014
Annual Report 2016
45
23 PROPERTY, PLANT & EQUIPMENT (CONTINUED) Parent
$000’s
$000’s
$000’s
Office Equipment & Plant $000’s
30 June 2016 Balance at the beginning of the year Additions (cost) Disposals (NBV) Depreciation Balance at the end of the year
Cost 10,205 10,205
Cost 5,283 (230) 5,053
Cost 2 (1) (1) -
Cost 344 9 (61) 292
Cost or valuation Accumulated impairment losses Accumulated depreciation Net book value
10,205 10,205
6,271 (1,218) 5,053
50 (50) -
1,004 (117) (595) 292
Parent
30 June 2016 Balance at the beginning of the year Additions (cost) Disposals (NBV) Depreciation Balance at the end of the year Cost or valuation Accumulated impairment losses Accumulated depreciation Net book value
46
Te Rūnanga o Ngāti Awa
Land
Buildings
Motor Vehicles
Cultural Assets $000’s Cost 7,026 7,026 7,026 7,026
Total $000’s Cost 22,860 9 (1) (292) 22,576 24,556 (117) (1,863) 22,576
23 PROPERTY, PLANT & EQUIPMENT (CONTINUED) Parent
$000’s
$000’s
$000’s
Office Equipment & Plant $000’s
30 June 2015 Cost as at 1 July 2014 Accumulated impairment at 1 July 2014 Accumulated depreciation at 1 July 2014 Balance at the beginning of the year Additions (cost)
Cost 10,205 10,205 -
Cost 5,083 (539) 4,544 10
Cost 166 (162) 4 3
Cost 2,034 (117) (662) 1,255 104
Transferred (to)/from other categories Depreciation Balance at the end of the year
10,205
958 (229) 5,283
(5) 2
(958) (57) 344
Cost or valuation Accumulated impairment losses Accumulated depreciation Net book value
10,205 10,205
6,271 (988) 5,283
169 (167) 2
995 (117) (534) 344
Parent
Land
Buildings
Motor Vehicles
Cultural Assets $000’s
Total $000’s
30 June 2015 Cost as at 1 July 2014 Accumulated impairment at 1 July 2014 Accumulated depreciation at 1 July 2014 Balance at the beginning of the year Additions (cost) Depreciation Balance at the end of the year
Cost 7,026 7,026 7,026
Cost 24,514 (117) (1,363) 23,034 117 (291) 22,860
Cost or valuation Accumulated impairment losses Accumulated depreciation Net book value
7,026 7,026
24,666 (117) (1,689) 22,860
The farm land is restricted in use by the land having been vested to the Rūnanga under the Māori Land Court ensuring that the land is retained for nga uri o nga hapū o Ngāti Awa and is not able to be alienated. The net book value of the land is $8,350,000 (2015: $8,350,000). Te Mānuka Tūtahi land is restricted in use by the land having been vested to the Rūnanga under the Māori Land Court ensuring that the land is retained for the purpose of a meeting place of cultural and historical importance for the communal use and benefit of nga uri o nga hapū o Ngāti Awa. The net book value of the land is $786,500 (2015: $786,500). The following cultural land assets were received as part of the settlement claim, and previously formed parts of historic, scenic, and recreation reserves (with the exception of the former Matahina A4 Block). These land assets were received at no cost. Kaputerangi (4.9321 hectares)
Te Ihukatia (1.1 hectares approximately)
Te Paripari Pa (1.0451 hectares)
Whakapaukorero (30 hectares approximately)
Otitapu Pa (6 hectares approximately)
Former Matahina A4 Block (4,045 square metres)
Te Toangopoto (10 hectares approximately) The Forest Carbon Sinks has been assessed at nil value as management have significant uncertainties regarding the future outlook for the Forest Carbon Sinks project.
Annual Report 2016
47
24 INTANGIBLE ASSETS Whakatāne Airport The Rūnanga has a right to receive at no cost the Whakatāne airport land if the use of the land ceases to be that of an airport. There is nil value attached to the right to purchase.
Radio Frequency The radio frequency licence used by Te Reo Irirangi o Te Mānuka Tūtahi is issued to the Rūnanga. This asset has nil value.
Fish Quota Fish quota is an intangible asset that provides annual catch entitlements for fish stock species. The quota is issued into perpetuity and has been classed as an indefinite life asset. The asset is not amortised, it is tested annually for impairment. The recoverable amount of the fish quota has been determined as the cash generating unit associated with the asset. Cash flows have been projected into perpetuity using a long term growth rate of inflation of 1.46% (2015: 2.70%) and discounted using the entity’s post tax weighted average cost of capital of 5.6% (2015: 6.4%). The carrying value of the fishing quota is $3,519,524 (2015: $3,519,524). Management does not expect that a reasonable change in key assumptions would result in a material reduction in the recoverable amount of the fish quota below its carrying amount.
Carbon Credits
Balance at the beginning of the year Impairment write back Revaluation gain Sale of carbon credits Reclassified to assets held for distribution Balance at the end of the year
Group 2016 $000’s 3,634 2,238 3,693 (1,072) 8,493
2015 $000’s 1,767 547 1,334 (14) 3,634
Parent 2016 $000’s 410 251 411 (1,072) -
2015 $000’s 198 62 150 410
The New Zealand Emission Trading Scheme (ETS) became law on 26 September 2008 with the passing of the Climate Change Response (Emissions Trading) Amendment Act 2008 (the Act). The Act was amended during 2010 with the passing of the Climate Change Response (Moderated Emissions Trading) Amendment Bill on 25 November 2010. Under the provisions of the Act the Group is a deemed participant in the ETS as it is an owner of pre-1990 forest land. The Act provided for an allocation of 60 New Zealand carbon units (NZUs) per hectare to be transferred to the Group. Based on this allocation the Group received 477,647 NZUs. The Act provided for the credits to be transferred in two tranches. The Group recognised the allocation of the first tranche of NZUs as government grant income in surplus or deficit in 2010 as the allocation was considered to represent compensation of the lower value of land already incurred. The carbon credits are assessed as having an indefinite life as they have no expiry date and the Group is able to either hold the NZUs within the carbon register or alternatively trade the NZUs in domestic or international carbon markets. The second tranche of NZUs was recognised by the Group as government grant income in surplus or deficit in November 2012. This allocation was recognised as a result of the Climate Change Response Amendment Act 2012, which was passed into law on 13 November 2012. This amendment removed the previous uncertainty around the recognition of pre-1990 forestry allocations. Under the ETS the Group will have an obligation to account for any emission released as a consequence of deforestation of pre-1990 forest land by surrendering NZUs equal to the extent of that emission. The Group has no liability for deforestation as at 30 June 2016 (2015: nil). An active market exists for carbon credits and they are recognised at fair value based on quoted prices as at 30 June 2016. The Rotoehu West forest is held by the Rūnanga on behalf of the Ngāti Hikakino and Ngai Te Rangihouhiri II Hapū (Note 27). The forest entitles the Hapū to an allocation of 60,373 NZUs. The actual number of carbon credits transferred to the Hapū may differ depending on the independently surveyed land area. The value of carbon credits held on behalf of the Hapū as at 30 June 2016 is $1,072,000 (2015: $410,000).
48
Te Rūnanga o Ngāti Awa
25 TRADE AND OTHER PAYABLES Group 2016 $000’s Trade payables Accrued expenses Distribution to Hapū Other
2015 $000’s
426 598 500 1,524
481 647 15 1,143
Group 2016 $000’s
2015 $000’s
Parent 2016 $000’s 83 262 500 845
2015 $000’s 179 512 691
There are no non-exchange trade and other payables.
26 INCOME RECEIVED IN ADVANCE
Current Liabilities Forestry rentals Access rights Grants Property rentals Other
Non-Current Liabilities Access rights Property rentals
Parent 2016 $000’s
2015 $000’s
854 143 343 86 1,426
846 143 16 287 6 1,298
70 70
-
3,321 980 4,301
3,464 3,464
-
-
There are no non-exchange items of income received in advance. Access rights relate to $5 million in relation to the Bonisch Road settlement received during 2010. This is being amortised over 35 years (2015: 35 years), beginning 1 October 2005, which is the period of access rights granted under the settlement. The non-current liability for property rentals relate to a lease of land to the Te Whare Wānanga O Awanuiārangi. The lease is for a term of 100 years and the rental of $1 million was paid in advance. This is being amortised over 100 years beginning 1 July 2015.
Annual Report 2016
49
27 NGĀTI HIKAKINO AND NGAI TE RANGIHOUHIRI II HAPŪ The Rotoehu West forest is held by the Rūnanga on behalf of the Ngāti Hikakino and Ngai Te Rangihouhiri II Hapū. On 26 August 2016 the title of the Rotoehu West forest (and associated carbon credits) was transferred by the Rūnanga to the Rotoehu Forest Trust. As at 30 June 2016 the carrying amount of the Rotoehu West forest held for distribution comprised of the following: Group 2016 $000’s Assets Held for Distribution Forestry assets Intangible assets Liabilities Held for Distribution Ngāti Hikakino and Ngai Te Rangihouhiri II Hapū
2015 $000’s
Parent 2016 $000’s
2015 $000’s
2,595 1,072 3,667
-
2,595 1,072 3,667
-
3,667 3,667
3,005 3,005
3,667 3,667
3,005 3,005
28 TERM LOANS 2016 $000’s Current Liabilities ASB mortgage Current portion of loan from Housing NZ Corporation Fonterra loan
Non-Current Liabilities ANZ mortgage Loan from Housing NZ Corporation ASB mortgage
Group
2015 $000’s
Parent 2016 $000’s
2015 $000’s
250 45 173 468
45 45
-
-
7,576 579 8,155
7,576 557 250 8,383
-
-
ANZ mortgage Four loans with the ANZ are currently held. The first was initially raised during June 2013 to purchase a dairy farm for Tumurau Limited Partnership. The loan is secured by a mortgage over the farm land on Braemar Road, Whakatāne. The loan was fixed in May 2015 for four years (maturing May 2019) at an interest rate of 5.15% (2015: 5.15%) with interest charged on a monthly basis. The other loans were raised in June 2015 to replace the Westpac mortgage held by the Ngāti Awa Farms (Rangitaiki) Joint Venture as part of the purchase of the dairy herd and farm plant, alongside additional Fonterra share purchases and the establishment of another farm house on the property. The loans are for terms of five years (maturing June 2020) secured by a mortgage over the farm land. The loans were fixed in June 2015 for four years at interest rates ranging between 4.87% to 5%, with interest charged on a monthly basis.
50
Te Rūnanga o Ngāti Awa
28 TERM LOANS (CONTINUED) Loan from Housing NZ Corporation Two loans were raised to purchase and renovate residential properties at Wairaka, Whakatāne. The loans are for 25 years and were interest free for the first 10 years. The first loan is now over ten years since draw down and is fixed at an interest rate of 4.69% for one year. The second loan is interest free until September 2016 and principal only is payable from when the loan is drawn down. The loans are secured by a mortgage on the respective Wairaka residential properties (2015: same). A reconciliation of the opening and closing balance of the concessionary loan is given below: Group 2016 $000’s Balance at the beginning of the year Fair value adjustment on initial recognition Loans repaid Balance at the end of the year
602 67 (45) 624
2015 $000’s 647 (45) 602
ASB mortgage This loan was raised to make an intercompany advance to Ngāti Awa Group Holdings Limited to enable its subsidiary Ngāti Awa Fisheries Limited to invest in crayfish quota as part of a ten Iwi Collective. The loan is for 5 years with interest charged on a monthly basis at a variable rate of 4.93% p.a. (2015: 6.01% p.a.). The loan was repaid in August 2016.
Fonterra loan These loans were raised to support Fonterra suppliers in a period of low dairy returns. The loans are interest free until 31 May 2017 and are repayable when the total advance payments exceed $6.00 per kilogram of milksolids.
Annual Report 2016
51
29 RECONCILIATION OF SURPLUS TO CASH FLOW FROM OPERATING ACTIVITIES Group 2016 $000’s Surplus/(deficit) before tax for the year Adjust for Non-Cash Items Depreciation / amortisation Interest expense Bad debts expense Forgiveness of related party loan Fixed asset sale loss Revaluation losses/(gains) Impairment losses/(gains) Non-cash dividend Non-cash income Other assets
Adjust for items classified as investing or financing activities:
Add/Less Movements in Working Capital (Increase)/decrease in trade and other receivables (Increase)/decrease in other assets (Increase)/decrease in livestock on hand (Decrease)/increase in trade and other payables (Decrease)/increase in income received in advance Increase/(decrease) in balance with subsidiaries Increase/(decrease) in other
Net Cash Generated From/(Used In) Operating activities
52
Te Rūnanga o Ngāti Awa
2015 $000’s
Parent 2016 $000’s
2015 $000’s
989
2,405
(551)
(282)
594 67 52 7 (954) (1,987) (12) 69 (2,164)
577 (3,832) (20) (143) (3,418)
292 7 1 (10) (500) (329) 43 (496)
291 27 (139) 179
(245) (245)
(1,037) (1,037)
(1,501) (1,501)
(1,116) (1,116)
(3) 620 381 965 1,963
2,680 72 698 (554) (132) (52) 2,712
128 154 70 352
626 60 238 (9) (57) 858
543
662
(2,196)
(361)
30 INVESTMENT IN SUBSIDIARIES AND JOINT VENTURES
Name
Class of Share
Ownership Interest Held 30 June 2016 30 June 2015
Balance Date
Principal Activity
Subsidiaries Ngāti Awa Group Holdings Limited
Ordinary
100%
100%
30 June
Commercial Assets Administration
Ngāti Awa Asset Holdings Limited
Ordinary
100%
100%
30 June
Fisheries Investment
Ngāti Awa Farms Limited
Ordinary
100%
100%
30 June
Drystock Farming
Ngāti Awa Farms (Rangitaiki) Limited
Ordinary
100%
100%
30 June
Non-Trading
Ngāti Awa Fisheries Limited
Ordinary
100%
100%
30 June
Fish Quota Leasing
Ngāti Awa Fish Quota Holdings Limited
Ordinary
100%
100%
30 June
Non-Trading
Ngāti Awa Forests Limited
Ordinary
100%
100%
30 June
Forest Land Leasing
Ngāti Awa Investments Limited
Ordinary
100%
100%
30 June
Investment
Ngāti Awa Properties Limited
Ordinary
100%
100%
30 June
Property Leasing
Ngāti Awa Research & Archives Trust
-
100%
100%
30 June
Research
The Ngāti Awa Community Development Trust
-
100%
100%
30 June
Social Services
Ordinary
100%
100%
30 June
General Partner of Manu Hou LP
Manu Hou Limited Partnership
-
70%
70%
30 June
Capital Investments
Ngāti Awa Farms (Rangitaiki) Joint Venture
-
51%
51%
30 June
Dairy Farming
Ordinary
100%
100%
30 June
General Partner of Tumurau Limited Partnership
-
68%
68%
30 June
Dairy Farming
-
16%
16%
30 March
Fish Quota Leasing
Ordinary
16%
16%
30 March
Fish Quota Leasing
Manu Hou GP Limited
Tumurau GP Limited Tumurau Limited Partnership Joint Ventures Mataatua Fisheries Collective Mataatua Quota ACE Holdings Limited
Annual Report 2016
53
31 RELATED PARTY TRANSACTIONS Balances with Subsidiaries are held as follows: Parent 2016 $000’s
Statement of Financial Position Non-Current Assets Loans owing by subsidiaries
Current Liabilities Owing to subsidiaries
2015 $000’s
- Ngāti Awa Asset Holdings Limited - Ngāti Awa Research & Archives
8,624 74 8,698
8,237 4 8,241
- Ngāti Awa Group Holdings Limited - Development Ngāti Awa
217 13 230
13 13
On 1 October 2007 a loan was advanced to Ngāti Awa Asset Holdings Limited. This loan is repayable on 30 September 2017 and interest is received at the prescribed Inland Revenue Department rate for low-interest loans of 5.77% p.a. as at 30 June 2016 (2015: 6.70% p.a.).
Receipts and Payments with Parent and Subsidiaries Parent 2016 $000’s
Receipts Administration fees income Farm lease income Lease income Wage reimbursement Interest Dividend Grant income Payments Radio station funding Grants
54
Te Rūnanga o Ngāti Awa
-
Ngāti Awa Group Holdings Limited Ngāti Awa Group Holdings Limited Ngāti Awa Group Holdings Limited Ngāti Awa Group Holdings Limited Ngāti Awa Asset Holdings Limited Ngāti Awa Asset Holdings Limited Ngāti Awa Research & Archives
- Ngāti Awa Properties Limited - The Ngāti Awa Community Development Trust - Ngāti Awa Research & Archives
2015 $000’s
91 52 103 500 1,500 43 2,289
32 66 364 546 1,000 2,008
30 30
30 1 182 213
31 RELATED PARTY TRANSACTIONS Payments to Consultants who are Board Members Payments to Board Members under the Rūnanga Charter Under the Rūnanga Charter clause 18.1(c), there is a provision for professional fees that can be paid to Board Members. During the years ended 30 June 2016 and 30 June 2015 the following professional fees were paid to Board Members:
Board Member
Nature of fees
M Dodd M Glen M Paul D Hunia
Appointments & Remuneration Audit, Finance & Risk Committee Appointments & Remuneration Appointments & Remuneration Audit, Finance & Risk Committee Chair of Ngāti Awa Group Holdings Limited, Farms Board & Investment Committee Appointments & Remuneration Rūnanga consultancy, Ngāti Awa Research and Archives, ex officio of Ngāti Awa Group Holdings Limited Executive Committee, Ngāti Awa Research and Archives contract work Audit, Finance & Risk Committee Ngāti Awa Group Holdings Limited Appointments & Remuneration
BP Quinn
S Nicholson J Mason
P Ngaropo
R O’Brien T O’Brien
Group 2016 $000’s
2015 $000’s
Parent 2016 $000’s
2015 $000’s
2 3 1 4
1 2 1 1
2 1 4
1 1 1
46
32
-
-
1 57
1 60
1 35
1 60
12
48
12
48
28
12
-
-
1 155
158
1 56
112
Board members represents 22 people (2015: 22 people). Board Members were paid $101,890 in meeting fees for the year ended 30 June 2016 (2015: $95,000), which includes the Chairman’s and Deputy Chairman’s honorarium payments. Indemnity insurance of $8,315 (2015: $16,000) was paid on behalf of the Board Members.
Payments to the Chairman of the Board Fees paid to J Mason
Group 2016 $000’s 45
2015 $000’s 45
Parent 2016 $000’s 45
2015 $000’s 45
Payments to Key Management Personnel Management represents 5 individuals (2015: 4 individuals), determined on a full-time equivalent basis. Key management personnel and their direct reports costs are $644,736 (2015: $418,000) for the Group.
Annual Report 2016
55
32 OPERATING LEASE COMMITMENTS Non-cancellable operating lease rentals are payable as follows:
Commitments Due -
Group 2016 $000’s
within 1 year in 1 year to 2 years in 2 years to 5 years greater than 5 years
191 146 145 482
2015 $000’s 214 204 326 20 764
Parent 2016 $000’s -
2015 $000’s -
Non-cancellable operating lease rentals are receivable as follows. These relate to operating lease rentals on investment properties and forestry land.
Commitments Due -
within 1 year in 1 year to 2 years in 2 years to 5 years greater than 5 years
2016 $000’s
Group
1,516 1,516 4,547 38,930 46,509
2015 $000’s
Parent 2016 $000’s
1,366 1,366 4,099 38,829 45,660
-
2015 $000’s -
33 CAPITAL COMMITMENTS The Group has committed capital to Taurus Resources Fund No.2 Ltd, remaining capital commitment as at 30 June 2016 is USD$119,112 (2015: USD$168,317). Manu Hou Limited Partnership has committed capital of $5 million to Direct Capital IV. As at 30 June 2016 $2,861,153 has been called (2015: $2,801,454). The Group has no other capital commitments as at 30 June 2016 (2015: nil).
34 CONTINGENT ASSETS AND LIABILITIES Contingent Liabilities The Group has no contingent liabilities as at 30 June 2016 (2015: nil).
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Te Rūnanga o Ngāti Awa
35 FINANCIAL ASSETS AND LIABILITIES The table below analyses the financial assets and liabilities by class and category, consistent with the Rūnanga and Group’s accounting policies. Group
Loans and Receivables
Available for Sale
Carrying Value Total
$000’s 8,791 8,791
$000’s 12,328 17,596 929 15,267 46,120
Other Financial Liabilities at Amortised Cost $000’s
Carrying Value Total $000’s
8,623 1,524 10,147
8,623 1,524 10,147
Loans and Receivables $000’s
Assets at Fair Value through Surplus or Deficit $000’s
Available for Sale $000’s
Carrying Value Total $000’s
831 17,026 17,857
18,303 18,303
9,344 9,344
9,344 18,303 831 17,026 45,504
Other Financial Liabilities at Amortised Cost $000’s 8,428 1,143 9,571
Carrying Value Total $000’s 8,428 1,143 9,571
30 June 2016 Assets per Statement of Financial Position Other investments Other financial assets at fair value through surplus or deficit Trade and other receivables Cash and cash equivalents
$000’s 3,537 929 15,267 19,733
Assets at Fair Value through Surplus or Deficit $000’s 17,596 17,596
Liabilities per Statement of Financial Position Term loans Trade and other payables
There are no material financial assets that are past due or impaired.
30 June 2015 Assets per Statement of Financial Position Other investments Other financial assets at fair value through surplus or deficit Trade and other receivables Cash and cash equivalents
Liabilities per Statement of Financial Position Term loans Trade and other payables
Annual Report 2016
57
35 FINANCIAL ASSETS AND LIABILITIES (CONTINUED) Parent 30 June 2016 Assets per Statement of Financial Position Trade and other receivables Owing by subsidiaries Cash and cash equivalents
Loans and Receivables $000’s
Assets at Fair Value through Surplus or Deficit $000’s
Available for Sale $000’s
Carrying Value Total $000’s
154 8,698 5 8,857
-
-
154 8,698 5 8,857
Other Financial Liabilities at Amortised Cost $000’s 845 230 1,075
Carrying Value Total $000’s 845 230 1,075
Loans and Receivables $000’s
Assets at Fair Value through Surplus or Deficit $000’s
Available for Sale $000’s
Carrying Value Total $000’s
95 8,241
-
-
95 8,241
647 8,983
25 25
-
25 647 9,008
Other Financial Liabilities at Amortised Cost $000’s 691 13 704
Carrying Value Total $000’s 691 13 704
Liabilities per Statement of Financial Position Trade and other payables Owing to subsidiaries
30 June 2015 Assets per Statement of Financial Position Trade and other receivables Owing by subsidiaries Other financial assets at fair value through surplus or deficit Cash and cash equivalents
Liabilities per Statement of Financial Position Trade and other payables Owing to subsidiaries
There are no material financial assets that are past due or impaired.
36 EVENTS OCCURRING AFTER THE REPORTING PERIOD The Group had no additional events occurring after the reporting period.
58
Te Rūnanga o Ngāti Awa
Annual Report 2016
59
60
Te Rūnanga o Ngāti Awa
TE RŪNANGA O NGĀTI AWA
Remuneration and Payments Payments to Employees to be disclosed under the Rūnanga Charter: Under the Rūnanga Charter clause 11.3, there is a requirement for the Annual Report to comply with section 211 of the Companies Act 1993 but excluding information required by section 211(1)(g) where the Rūnanga so decides pursuant to clause 11.6 (Protection of Sensitive Information). During the year ended 30 June 2016 the number of employees or former employees, not being governors, that received remuneration and any other benefits in their capacity as employees where the value exceeded $100,000 per annum were: $100,000 - $110,000 $110,000 - $120,000 $330,000 - $340,000
1 employee 1 employee 1 employee
Payments to Board members under the Rūnanga Charter Under the Rūnanga Charter clause 18.1(c), there is a provision for the profession fees that can be paid to Board Members. During the year ended 30 June 2016 the following board attendance meeting fees, other meeting fees, and professional fees were paid to Board Members. Name
Board
Meeting Fee
M Araroa M Dodd
TRONA TRONA
1,260 2,205
M Glen M Hepi H Hona D Hunia K Hunia A Kohunui P Koopu J Mason (Chair)
TRONA TRONA TRONA TRONA TRONA TRONA TRONA TRONA
1,575 1,890 315 1,890 1,890 1,260 1,575 45,000
T K Merito A Morrison P Ngaropo
TRONA TRONA TRONA
1,575 1,575 14,445
S Nicholson
TRONA
945
R O’Brien
TRONA
1,890
T O’Brien
TRONA
1,890
M Paul
TRONA
1,575
Other Fees Paid
Other Board / Committees Charter Review Committee Appointment and Remuneration Committee Audit, Finance and Risk Committee
450 1,500
Audit, Finance and Risk Committee
3,750
Fisheries Consultant Appointment and Remuneration Committee NAGHL (ex officio)
Ngāti Awa Research & Archives Trustee Chief Executive Subcommittee Charter Review Committee Appointment and Remuneration Committee NAGHL Director Ngati Awa Farms Limited Director Audit, Finance and Risk Committee Chief Executive Subcommittee Appointment and Remuneration Committee Appointment and Remuneration Committee Chief Executive Subcommittee
3,000
35,000 300 22,500
300 600 300 450 22,500 2,750 3,000 750 300 600 750
Annual Report 2016
61
TE RŪNANGA O NGĀTI AWA
Remuneration and Payments Name
Board
BP Quinn
TRONA
1,260
Other / Commitees NAGHL Chairman
Other Fees Paid 40,500
Ngāti Awa Farms Limited Director
2,750
Investment Committee
3,000
S Ratahi
TRONA
1,260
M Sisley
TRONA
3,465
A Tangitu M Tarau
TRONA (appointed 29/4/2016) TRONA
1,575
M Wahapango
TRONA
1,890
D Birch
NAGHL
24,375
Investment Committee
3,250
AE De Farias
NAGHL
22,500
Ngāti Awa Farms Limited Director
3,000
PS Drummond
NAGHL
16,875
HW Hudson
NAGHL
16,875
Audit, Finance and Risk Committee
2,250
Investment Committee
2,250
T Hunia
NAGHL
22,500
Ngāti Awa Farms Limited Chairman
3,000
W Vercoe
NAGHL (ex officio)
22,500
P Taylor
Audit, Finance and Risk Committee Ngāti Awa Farms Limited Director Ngāti Awa Farms Limited Director Ngāti Awa Farms Limited Director Ngāti Awa Research & Archives Trustee Ngāti Awa Research & Archives Trustee Ngāti Awa Research & Archives Trustee Ngāti Awa Research & Archives Trustee Manu Hou GP Limited
25,000
BDP Tatere L Stowel W Studer TR Chapman-de Vos A Jaram H Mead S Tutua CO Elliot
62
Meeting Fee
Te Rūnanga o Ngāti Awa
-
2,250 2,750 2,750 600 750 450 750 -
TE RŪNANGA O NGĀTI AWA
Our Hapū Representatives TE RŪNANGA O NGĀTI AWA HAPŪ REGISTRATIONS
The chart below illustrates the registered membership of each Ngāti Awa hapū over the past 10 years from 2006 to 2016 with a total of just under 20,000 registered members as of June 2016. The 2015/16 Hapū Rūnanga Representatives are also listed and can be contacted via the Rūnanga office on 07 307 0760. Hapū
June 2006
June 2016
Representative
Ngā Maihi
1,603
1,882
Regina O’Brien
Ngāi Taiwhakaea II
1,240
1,446
Manukorihi Tarau
Ngāi Tamaoki
622
837
Keld Hunia
Ngāi Tamapare
406
410
Paul Quinn
Ngāi Tamawera
1,049
1,157
Ngāi Te Rangihouhiri II
535
618
Manurere Glen
Ngāi Tuariki
240
319
Meri Hepi
Ngāti Awa ki Poneke
266
309
Serenah Nicholson
Ngāti Awa ki Tamaki Makaurau
246
341
Pouroto Ngaropo
Ngāti Hamua
409
496
Miro Araroa
Ngāti Hikakino
586
563
Stanley Ratahi
Ngāti Hokopu - Te Hokowhitu a Tu Ki Te Rahui
639
644
Maanu Paul
1,248
1,408
Dayle Hunia
Ngāti Hokopu - Te Whare o Toroa Ngāti Maumoana
Alfie Morrison
105
120
2,296
2,627
Ngāti Rangataua
340
516
Te Kei Merito
Ngāti Wharepaia
497
534
Materoa Dodd Mihipeka Sisley
Ngāti Pukeko
Te Kahupaake
Putiputi Koopu Joe Mason
742
716
Te Pahipoto
2,022
2,230
Tuwhakairiora O’Brien
Te Patuwai
Marcia Wahapango
1,140
1,278
Te Tawera
684
892
Amohaere Tangitu
Warahoe
529
574
Aubrey Kohunui
Hapū to be confirmed
403
73
17,843
19,990
Totals
Board
Frequency of meetings
Meetings during year
Te Rūnanga o Ngāti Awa Board of Representatives
Two monthly
• Five ordinary meetings; • One special meeting to approve the Draft 2016/17 Annual Plan and Draft 2016/17 Budget; • One Annual General Meeting
Appointments and Remuneration Committee
When required
Five times
Audit Finance and Risk Committee
When required
Seven times
Ngāti Awa Research and Archives Trust
Two monthly
Five times
Whakapapa Committee
Two monthly or when required
Eight times
Charter Review Committee
When required
Three times
Te Mānuka Tūtahi Operations Review Committee
Two times
Annual Report 2016
63
Notes
64
Te Rūnanga o Ngāti Awa
TE RŪNANGA O NGĀTI AWA
DIRECTORY
TE RŪNANGA O NGĀTI AWA Ngāti Awa House 4-10 Louvain Street, Whakatāne 3120 PO Box 76, Whakatāne 3158 Phone: 64 7 3070760 Email: runanga@ngatiawa.iwi.nz Website: www.ngatiawa.iwi.nz
TE RŪNANGA O NGĀTI AWA
NGĀTI AWA GROUP HOLDINGS LTD
Chairman Joe Mason
Chairman Paul Quinn
Chief Executive Officer Leonie Simpson
Chief Executive Officer Geoff Hamilton
Board Secretary Monica Maniapoto
Financial Controller Peter Thomas
Contractor Charlie Bluett
Board Secretary Glenda Stewart
Manager Environmental Ray Thompson
Finance Administrator Lynsey Mariu
Environment Coordinator Deliah Balle
Manager Ngakauroa Farm Mike Learmond
Manager Research and Archives Noti Belshaw
Manager Tumurau Farm Ngatai Hurkmans
Receptionist Naedene Stewart
Manager Ngāti Awa Heritage Estate Scott Berry
Interim Manager Mataatua Wharenui William Stewart Pou Arataki Mataatua Wharenui Roimata Bennett Mavis Hemopo Tukirunga Perenara Pare Pouwhare-Akuhata Les Umuhuri Hare Woods Support Staff Mataatua Wharenui Carolyn Fitzpatrick Mark Tutua
Annual Report 2016
3
Te Rūnanga o Ngāti Awa Ngāti Awa House 4-10 Louvain Street Whakatāne 3120 PO Box 76, Whakatāne 3158 Freephone: 0800 464 284 Telephone: 64 7 3070760 Email: runanga@ngatiawa.iwi.nz Website: www.ngatiawa.iwi.nz
4
Te Rūnanga o Ngāti Awa