FINANCIAL STRATEGY PLAN - whakamōhio pūtea - June 2021
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FINANCIAL STRATEGY PLAN
whakamōhio pūtea
Page 1 of 12
1. whakatakinga | introduction
Welcome to the first Financial Strategy Plan developed to assist Ripia Marae in its revenue development and growth,
financial management, financial accountability, and financially planning for the foreseeable future.
By utilising the values taken from the Marae Development Plan, the following financial strategy has been developed
to respond to outcomes that best suit the fiscal needs of the Marae, its people and to create a sustainable future for
the Marae and its generations to come.
This Financial Strategy Plan is developed for the 2021 year and can be re-viewed at the end of each year to assess its
priorities and focus.
2. hoaketanga | objectives
The objectives of this Financial Strategy Plan are to:
▪ Plan and prepare Ripia Marae for Marae based activities and projects that encourage whānau and hapū
kōtahitanga - unity.
▪ Develop financial capabilities that achieve Ripia Marae’s financial goals and aspirations.
▪ Provide financial action planning towards achieving the Ripia Marae Development Plan with financial
systems, processes, and policies that encourage Oranga Marae.
▪ Achieve the Marae’s financial priorities and obligations.
▪ Manage cash flow.
▪ Manage debt.
▪ Accurately record financial information and data with systems such as Xero and produce financial accounts
and statements as required and as deemed necessary by the beneficiaries of the Marae.
MANA TANGATA – MANA WHENUA
MANA ORANGA – MANA MOTUHAKE
3. aronga | purpose
The purpose of this Financial Strategy Plan is to equip beneficiaries and whānau with information necessary to track,
review, feedback and report on three main financial priorities:
1. Revenue Growth and Development.
2. Financial Planning and Management.
3. Financial Accountability and Responsibility.
By focussing on these objectives within this financial strategy, Treasury aims to provide a robust approach to
managing its fiscal resources long-term and meet the expectations of its beneficiaries – the whānau.
Page 2 of 12
4. whainga | values
Ripia Marae’s values coincide with the strategic priorities for its people - values which are also consistent with Iwi
Māori. By aligning these values with Treasury’s priorities, these values provide the ability to grow, track, manage and
feedback on Ripia Marae’s financial progress over the next 12 months.
MARAE DEVELOPMENT PLAN
TREASURY PRIORITIES
VALUES
MANAAKITANGA
▪ Development of financial systems and procedures that support the
Care and protection of all, katiakitanga,
tautoko, Humarietanga.
Marae to achieve its financial goals.
▪ Growth and Development of Marae revenue and income that
assists to fiscally achieve its goals and aspirations.
WAIRUATANGA
▪ Development of financially sound investment portfolios for the
Tikanga and spirituality, mokopuna, tika,
pono and aroha.
future of the Marae and its beneficiaries.
▪ Development of financial tīkanga/procedures that tīaki and protect
Ripia Marae’s assets.
KOTAHITANGA ▪ Developing new financial accountability reporting systems and
Mahitahi, positive futures, connection, procedures.
commitment, unity. ▪ Utilising the latest accounting technologies, methods and systems
with banks and financial accounting software such as Xero for
better financial management.
WHANAUNGATANGA
▪ Grow and develop revenue streams into Ripia Marae.
Relationships, whakapapa, Tupuna,
connections.
▪ Invest time and resources towards Marae financial sustainability.
▪ Build on current cash reserves to create savings goals and meet
annual expenses.
Revenue &
Income
Marae Oranga Marae
Ripia Marae
- Growth &
Revitalisation (Whānau/Beneficiaries) Development
Dreams &
Aspirations
Page 3 of 12
5. pūtea nohoanga i nāianei | current financial position
At present, Ripia Marae expenses are approximately, based on the 2019/2020 financials, $33,000 per year to
effectively run the Marae. This is roughly $2,400 per month, or $554 per week.
However, while Marae bookings are generating approximately $5,000 in self-generated revenue, the operational
short-fall for the Marae is often supported by funding procurement grants that have been used to meet outgoing
expenses through Kaupapa being undertaken by the Marae projects.
Please note, this figure does not include future projects and Marae beneficiary wish-lists. The operational variance
is heavily injected by the Fundraising Officer’s fundraising proceeds, although on many occasions, this fundraising
account has been originally tagged for other Marae projects. Fundraising in the 2020 year has brought in
approximately $5,800.
FUTURE OUTLOOK
A great deal of revenue and income will be required to meet the general operations of the Marae in order for it to
sustain itself and prevent future project delays and general building maintenance issues which at present are not
budgeted for.
Year at a glance.
Yearly Income $15,800.00
Yearly Expenses $33,000.00
Variance: -$17,200.00
Projects at a Glance: -$180,000.00
It’s important to note that each year an approximate 2-6% inflation fee of expenses are incurred as a result of
everchanging price increases for materials and labour where required. If these inflation rates are applied in the 2021
year, cost of operating expenses will rise increasing the deficit of what already is a negative variance - the total
variance will only see Ripia Marae obtain more unmanageable debt.
Some of the most inflated expenses for the operations of the Marae are its insurance with Kiro Management (Hunter
Premium Funding) of $23,550.72 per year which is $1,962.56 per month or $452.90 per week. Furthermore, the
price of ongoing utilities such as Electricity and Gas are also some of the Marae’s heaviest expenses. A full financial
review of these, and other expenses will be undertaken for the 2021 forecast to look at price changes that support
the Marae’s expenses – cutting costs with alternatives.
Furthermore, there will also be more expenses added to the 2021 budget forecast (as per page 4) where
administration, accounts and operations of the Marae undertake tools and resources that support the smooth and
seamless operations or the Marae.
Page 4 of 126. huarere ahumoni | budget forecast 2020
The following budget forecast describes the regular expenses incurred during the 2020 year. This budget does not include additional expenses or reimbursements that have
been paid personally by members/beneficiaries of the Marae.
FIRST QUARTER SECOND QUARTER THIRD QUARTER FOURTH QUARTER
OPEX ITEMS TOTALS
Apr May Jun Jul Aug Sept Oct Nov Dec Jan Feb Mar
Insurances 1,962.55 1,962.55 1,962.55 1,962.55 1,962.55 1,962.55 1,962.55 1,962.55 1,962.55 1,962.55 1,962.55 1,962.55 23,550.60
Bank Fees 10.00 10.00 10.00 10.00 10.00 10.00 10.00 10.00 10.00 10.00 10.00 10.00 120.00
Rates 38.00 38.00 38.00 38.00 38.00 38.00 38.00 38.00 38.00 38.00 38.00 38.00 456.00
Property Maintenance 67.00 67.00 67.00 67.00 67.00 67.00 67.00 67.00 67.00 67.00 67.00 67.00 804.00
Utilities - Power 285.00 285.00 285.00 285.00 285.00 285.00 285.00 285.00 285.00 285.00 285.00 285.00 3,420.00
Utilities - Gas 260.00 - 260.00 - 260.00 - 260.00 - 260.00 - 260.00 - 1,560.00
Building WOF/Fire Alarm 82.61 82.61 82.61 82.61 82.61 82.61 82.61 82.61 82.61 82.61 82.61 82.61 991.32
Auditors Fees - - - - - - - - - - - 1,000.00 1,000.00
Charity Services - - - - 55.00 - - - - - - - 55.00
AGM - Advertising - - - - - - - 60.00 - - - - 60.00
Office/Stationery - - - - - - - - - - - - 0.00
Koha - - - - - - - 1,000.00 - - - - 1,000.00
(A) TOTALS = 2,705.16 2,445.16 2,705.16 2,445.16 2,760.16 2,445.16 2,705.16 3,505.16 2,705.16 2,445.16 2,705.16 3,445.16 33,016.92
Page 5 of 122021 Budget Forecast
huarere pūtea
Page 6 of 127. huarere ahumoni | budget forecast 2021
The following budget forecast is set for year starting April 2021 and includes additional expenses as part of the Marae’s operations and includes cost cuts to Insurance with
State – see Attached Quote.
FIRST QUARTER SECOND QUARTER THIRD QUARTER FOURTH QUARTER
OPEX ITEMS TOTALS
Apr May Jun Jul Aug Sept Oct Nov Dec Jan Feb Mar
0800 Phone Line 11.50 11.50 11.50 25.75 11.50 11.50 11.50 25.75 11.50 11.50 11.50 25.75 180.75
Insurances 1,962.55 1,324.00 1,324.00 1,324.00 1,324.00 1,324.00 1,324.00 1,324.00 1,324.00 1,324.00 1,324.00 1,324.00 16,526.55
Bank Fees 10.00 10.00 10.00 10.00 10.00 10.00 10.00 10.00 10.00 10.00 10.00 10.00 120.00
Rates 38.00 38.00 38.00 38.00 38.00 38.00 38.00 38.00 38.00 38.00 38.00 38.00 456.00
Lawn Maintenance 67.00 67.00 67.00 67.00 67.00 67.00 67.00 67.00 67.00 67.00 67.00 67.00 804.00
Property Maintenance 1,000.00 - - - - - 1,000.00 - - - - - 2,000.00
Utilities - Power 285.00 285.00 285.00 285.00 285.00 285.00 285.00 285.00 285.00 285.00 285.00 285.00 3,420.00
Utilities - Gas 260.00 - 260.00 - 260.00 - 260.00 - 260.00 - 260.00 - 1,560.00
Building WOF/Fire Alarm 82.61 82.61 82.61 82.61 82.61 82.61 82.61 82.61 82.61 82.61 82.61 82.61 991.32
Auditors Fees - - - - - - - - - - - - 0.00
Xero Accounting 31.63 31.63 31.63 31.63 31.63 31.63 31.63 31.63 31.63 31.63 31.63 31.63 380.00
Charity Services - - - - 55.00 - - - - - - - 55.00
AGM - Advertising - - - - - - - 60.00 - - - - 60.00
Website - - - - - 433.00 - - - - - - 433.00
Office/Stationery - - - - - - - - - - - - 0.00
Koha - - - - - - - - - - - - 0.00
Sundries 600.00 - - - - - 900.00 - - - - - 1,500.00
(A) TOTALS = 4,348.29 1,849.74 2,109.74 1,863.99 2,164.74 2,282.74 4,009.74 1,923.99 2,109.74 1,849.74 2,109.74 1,863.99 28,486.62
Page 7 of 128. whakaarotau pūtea | new financial priorities - 2021
Some of the new financial priorities for 2021 considering the newly developed budget forecast for Ripia Marae are:
▪ Streamline accounting systems and financial reports that support better financial accountability outcomes
and manages financial processes, money expenditure, tracking financial transactions, and develop Marae
savings. This service also provides automated invoicing systems for Marae Hire and Catering Expenses.
▪ Build robust relationships with external funders and financial stakeholders that support the completion of
current and outstanding Marae projects such as: Painting (inside and out), Carpeting and new lighting of Te
Orikena, Construction of an external tool shed with Civil Defence Office and sleepout for Ringawera, Shutter-
doors for the servery of Ngā Anahera, and Canopy Cover/Café Curtains for the Decking on the North End of
Ngā Anahera. Other Marae projects include: Waharoa, design of the Marae flag, a covered and concreted
area out the front of the toilets etc.
▪ Revenue Development and Growth – growing bookings of the Marae, encourage Marae based catering and
exercise new income growth strategies such as:
a. Group/Conference Hire/Bookings.
b. Marketing the Marae’s use to wider networks within the Iwi and nationally of Aotearoa.
c. Development of training and wānanga opportunities which encourage building relationships with
other Marae: Waikaretū, Otūrei and Naumai Marae.
d. Providing Ripia Marae as a training ground for Tīkanga, Whaikōrero, Kaikaranga, Waiata and
Kapahaka.
e. Include other resources and experiences for charge: Hāngi pit, Conference Resources: TV, WiFi
Connectivity Package and Whiteboard resources etc.
f. Build on Social Enterprise development opportunities and business portfolios that provide revenue
growth and income to the Marae.
FORECASTED PROJECTIONS
2021
2020
0 5,000 10,000 15,000 20,000 25,000 30,000 35,000
Income Expenses
Page 8 of 129. rautaki pūtea | funding strategy 2021
The following funding strategy has been drafted to assist in managing current and future Marae projects and their associated funds.
Marae Project Purpose of project Required Resources Identified Funder Requested Budget
MANAAKITANGA PROJECTS
Feasibility Study for Te Orikena To undertake a feasibility study that * Funding application * Department of Internal Affairs
asses the viability and professional * Project Manager – Oranga Marae
$30,000.00
advice regarding the current ‘wharenui’. * Timeframe
Feasibility Study for a Utility Shed To undertake a feasibility study that * Funding application * Department of Internal Affairs
asses the viability and professional * Project Manager – Oranga Marae
$30,000.00
advice for a Ripia Marae Utility Shed. * Timeframe
WAIRUATANGA PROJECTS
Carpeting of Te Orikena To recarpet the Wharenui and have a * Quote of services * Department of Internal Affairs
carpet runner that provides warmth for * Funding application – Oranga Marae
$30,000.00
the Wharenui * Kaiwhakahaere Marae
* Carpet supplier & layer
Whakatika Whare Karakia * Refurbish and repair Peterehema * Quote of services * TBA
Whare Karakia – Allie Ripia * Funding application * Arched Diocese
$50,000.00
* Whare Karakia is included regular * Allie Ripia * Dargaville High School – Whare
Church Services. * Arched Diocese Oranga
Page 9 of 12Marae Project Purpose of project Required Resources Identified Funder Requested Budget
KOTAHITANGA PROJECTS
Undertake a Series of Wananga: To undertake and participate both * Funding Application * Department of Internal Affairs
- Tikanga Wananga internally and locally within the Hapu a * Facilitators (Male/Female) – Oranga Marae.
$15,000
- Waiata Wananga series of Wananga that assists to * Workshop resources
strengthen and support Ripia-tanga. * Marae marketing
WHĀNAUNGATANGA PROJECTS
Undertake a Series of Wananga: To undertake and participate both * Funding Application * Department of Internal Affairs
- Kaikaranga internally and locally within the Hapu a * Facilitators (Male/Female) – Oranga Marae.
$15,000
- Whaikorero series of Wananga that assists to * Workshop resources
strengthen and support Ripia-tanga. * Marae marketing
Lease Arrangement with Sam Guest To negotiate the long-term lease * Parties in attendance. Nil
agreement with Sam Guest regarding * Agreements in principle that
$Nil.
Ripia Marae reservation/lands. relate to the Marae Development
Plan.
MOU Agreement with Dargaville High To build on relationships with 3external * MoU with groups Nil
School, Local Groups & Te Kopuru groups that support the community * Specialised terms for the
$Nil
Primary School relations and the financial strategy for relationship.
income growth and revenue.
Page 10 of 1210.kaupapa whakahaere | project management tool 2021
FIRST QUARTER SECOND QUARTER THIRD QUARTER FOURTH QUARTER
PROJECTS BUDGET
JAN FEB MAR APR MAY JUN JUL AUG SEPT OCT NOV DEC
Project Completion: 5 April 2021
Hand Sanitizers KAIPARA DISTRICT COUNCIL $2,103.80
Report Due: 26 July 2021
Project Completion: 5 April 2021
COVID Fund TE RUNANGA O NGATI WHATUA $10,000
Report Due: 26 April 2021
Project Completion: 6 May 2021
Marae Development Plan DEPARTMENT OF INTERNAL AFFAIRS $13,560
Report Due: 27 May 2021
Project Completion: 2 June 2021
Kai Ora – Vege Pods MAHITAHI HAUORA $1,392
Report Due: 30 Jun 2021
Project Completion: 30 Jun 2021
Waharoa Construction FOUNDATION NORTH $24,703
Report Due: 28 July 2021
Project Completion: 5 July
Operational Expenses COGS – DEPARTMENT OF INTERNAL AFFAIRS $5,000
Report Due: 26 July 2021
Project Completion: 19 July 2021
Wharenui Door LOTTERIES – DEPARTMENT OF INTERNAL AFFAIRS $15,000
Report Due: 16 Aug 2021
Page 11 of 1211. ngā turaru | risks identified
Possible risks identified with this Financial Strategy Plan are:
Actual or
Identified Risk Mitigation Plan
Perceived
COVID-19 Lock Down Actual Apply for COVID-19 Response Funds.
Financial Accountability Reports overdue Actual Contact stakeholders to plan extension to report date.
Former Treasurer and unfinished Perform a financial review of all Ripia Marae monies
Actual
reporting. and accounts where and if possible.
Build strong and robust relationships with local and
Limited revenue from bookings Perceived
national groups to increase bookings.
12. ngā whaikupu | recommendations
1. That this Financial Strategy Plan be received and accepted for 2021.
2. That the Xero Accounting software license be purchased and upgraded if and when need.
3. That all standard bills and expenses as forecasted be accepted in advanced for payment as they shall fall.
4. That all Marae project funds be accepted as per the project management tool on page 10 and expended as
instructed and when required following accountability reporting requirements to whānau and stakeholders.
5. That the State Quote be accepted as of May 2021 at the completion of Kiro Management (Hunter Premium).
6. That the Electricity supplier be reviewed for a more cost-effective provider.
7. Undertake reviews of utilities of the Marae where cost-cutting and savings can occur.
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