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Local Government Act 2002

Council-controlled organisations and council organisations - Monitoring and reporting

68: Content of reports on operations of council-controlled organisations

You could also call this:

“What must be included in reports about how council-run organisations are doing”

You need to know about reports on council-controlled organisations. These reports must have enough information for people to understand how the organisation and its subsidiaries are doing. The report needs to compare how the organisation performed with what it said it would do in its statement of intent. If there are big differences between what was planned and what happened, the report must explain why. The report also needs to say how much money, if any, the organisation plans to pay to people who own parts of it (not including people who own fixed interest securities). This is called a dividend. The report must say either the exact amount of the dividend or the most it could be for that financial year.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM171899.

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Part 5 Council-controlled organisations and council organisations
Monitoring and reporting

68Content of reports on operations of council-controlled organisations

  1. A report on the operations of a council-controlled organisation under section 67 must—

  2. contain the information that is necessary to enable an informed assessment of the operations of that organisation and its subsidiaries, including—
    1. a comparison of the performance of the organisation and its subsidiaries with the statement of intent; and
      1. an explanation of any material variances between that performance and the statement of intent; and
      2. state the dividend, if any, authorised to be paid or the maximum dividend proposed to be paid by that organisation for its equity securities (other than fixed interest securities) for the financial year to which the report relates.

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