SECURING OUR REGION'S FUTURE - Waimea Water
←
→
Page content transcription
If your browser does not render page correctly, please read the page content below
OV ERV IE W
SECURING
OUR
REGION’S
FUTURE
WAIM E A WATE R LTD | ANNUAL REPORT 2019
Waimea
Water
1
WAI ME A WATE R LIMIT ED | AN N UAL REPORT 2019 OVERVIEW
Our Commitment Contents
Waimea Water
Overview 4
About Waimea Water 4
The Waimea Community Dam 4
is committed
Performance Highlights 6
Timeline 8
Report from Board Chair 11
to building and Report from Chief Executive Officer
Executive Management Team
Areas of Activity
13
14
17
operating a safe, Design
Construction
Health and Safety
17
19
21
reliable and efficient Project Performance
Environmental Protection and Compliance
23
24
dam for the benefit
Environmental Sustainability 25
Performance
Operating and Financial Overview 27
of the region.
Performance against Statement of Intent 28
Governance 30
Corporate Governance 31
Corporate Structure 31
Board of Directors 32
Annual Report 34
Independent Auditors Report 35
Board Attendance 39
Director’s Register of Interests 40
Financial Statements 41
Notes to Financial Statements 44
Corporate Directory 55
2 3
WAI ME A WATE R LIMIT ED | AN N UAL REPORT 2019 OVERVIEW
OVERVIEW Key facts about the dam at a glance:
Concrete-face rock filled dam – Lake created by the dam will
approximately contain approximately
53m
13 billion litres
About Waimea Water The Waimea Community Dam OF WATER
Waimea Water Ltd (WWL) is a The three-year construction project The Waimea Community Dam is
HIGH
Council-Controlled Organisation began in March 2019, with works to designed to the latest and highest
220m
established in November 2018 to create access to the Lee Valley site international design standards
manage the construction, operation now almost complete. Construction
UP TO
under the NZ Dam Safety Guidelines
and maintenance of the Waimea
Community Dam. The dam is a
of the dam is expected to start in
July 2019.
and will continue to be regularly
peer reviewed by technical experts
LONG
2.2 m3/s Flow
significant infrastructure project for
The dam is being constructed for throughout the build process. into the Lee and Waimea River
the region and is set to secure the
WWL through a joint venture between
Systems during drought
The benefits of the dam for the
water supply for Nelson Tasman for
experienced local companies Fulton region are:
the next 100+ years.
Hogan Ltd and Taylors Contracting • supporting a growing population
Approval to proceed with the dam Ltd (FHTJV). Specialist dam Filling of reservoir and final
and providing the community with Constructed from approximately
was reached by the Tasman District consulting engineers, Damwatch commissioning by early
430,000m3
water security
2022
Council (TDC) on 30 November 2018 Engineering Ltd will provide
• healthy Lee and Waimea rivers
and finance was secured for the independent review of the design and
for swimming, fishing and other
project on 21 December 2018. A joint construction.
venture project between the Tasman
recreational activities
OF ROCK
The concrete-face rockfill dam will • healthier rivers for aquatic life
District Council (TDC) and Waimea
be about 53 metres high, 220 metres to thrive
Irrigators Ltd (WIL), the dam realises
$55
long, and 6 metres wide at the crest.
the vision and many years of work • a robust economy strengthened
About 430,000 cubic metres of Estimated economic benefit in the first 2 years
for groups and individuals to provide by the success of horticulture
m*
indigenous rock will be excavated,
greater water security for the Waimea and farming industries and the
processed and used to build the dam.
Plains and wider community (also subsequent growth of associated
see timeline on pages 8 and 9). Once the dam is in place, the secondary and tertiary industries
reservoir will fill up naturally over • jobs for people in our primary
WWL is focused on ensuring that it
several months, with the final industries and the support
has the people, systems and positive
commissioning expected in early services working with them
relationships it needs to deliver
2022. The lake created by the dam
a world-class water project for • greater potential to develop,
will contain approximately 13 billion
Nelson Tasman. maintain and grow businesses
litres of water.
for the next generation
• families staying in the area and
contributing to a community that
and between
$600 -$900
has more to offer people of all ages.
m
over 25 years
*NZIER Report 2017
4 5
WAI ME A WATE R LIMIT ED | AN N UAL REPORT 2019 OVERVIEW
Performance Highlights
Achievements so far
The Ground-breaking Ceremony
Final Investment Decision December 2018 Consent Compliance 100%
Commenced Construction March 2019 Approved Construction Environmental Plans 3
Project Progress (spend) 18% Site Access Substantially Complete
Injury Rate 0 Expected Completion for filling October 2021
6 7
WAI ME A WATE R LIMIT ED | AN N UAL REPORT 2019 OVERVIEW
Timeline
Several decades of work has led to this
February 2018
significant investment in infrastructure. March 2014
Council approves using a CCO6 to oversee and manage the
dam project.
Changes to
April 2018
water rules in the
WIL4 closes water shares offer (opened in March 2018).
Tasman Resource
More than 220 applicants sought shares and $16.5 million
Management Plan
was raised.
came into effect.
June 2018
September 2014
Waimea Community TDC3 and NCC5 2018/28 Long Term Plans adopted which
Dam Ltd lodges included funding for the dam.
application for August 2018
resource consent. Early Contractor Involvement process concluded with
October 2014 estimate above the original project budget. TDC3 submit a
NZIER report shows Local Bill to Parliament to allow access to land in Mount
regional GDP would Richmond Forest Park for the dam.
reduce significantly September / October 2018
($17.5 - $34.5 million A revised project budget was proposed and Select
p/a) without the dam. 2015 – 2016
Committee hearings on the Local Bill were held.
Water permits are
1979 October 2014 November 2018
introduced that
– May 2015
NC&RWB1 change water TDC3 voted to proceed with construction of the dam.
commissions a study 2003 2010 Community allocation policies
WWAC2 completes consultation on how December 2018
to consider building WWAC2 is established and rules in the
a dam in the Wairoa detailed feasibility the dam should be WWL4 is incorporated and takes ownership of
to look at options for Waimea water
Gorge. study. funded and managed. construction and management of the dam.
water supply. management zones.
Summer 2001 -2002 2007 2013 March 2015 Early 2017
Severe drought in Many potential WWAC recommends Resource consents Expressions of Interest process
Tasman highlights sites assessed a private co- granted, subject to to establish the construction
the magnitude of the for engineering, operative company conditions. cost of the dam.
water shortage issue. environmental and operates the dam.
June 2017
social factors. Proposed company
has legal constraints NZIER updates its 2014
on funding for TDC3. economic assessment, showing
the benefits of the dam are
greater than earlier estimates.
November – December 2017
Public consultation on funding
Council’s share of the dam.
1
Nelson Catchment and
Regional Water Board
2
Waimea Water
Augmentation Committee
3
Tasman District Council
4
Waimea Irrigators Ltd
5
Nelson City Council
6
Council Controlled
The Dawn Blessing Organisation
8 9
WAI ME A WATE R LIMIT ED | AN N UAL REPORT 2019 OVERVIEW
“This year’s drought further highlighted Report from Board Chair
the need for greater water security in
the Tasman region. Research shows
that New Zealand gets plenty of water
each year and uses less than two
percent of it. It’s clear that we need to
be smarter about storing it for when
we most need it.” Welcome to the inaugural Annual
Report for Waimea Water Ltd (WWL).
WWL is a Council Controlled
Organisation and represents the
the Waimea Community Dam to a high
standard, and we are very pleased
shared interests of Tasman District with the progress made to date.
As we reflect on our first seven
Council (TDC) and Waimea Irrigators
months as a new organisation, I The Board, alongside the company
Ltd (WIL). Combining the water
am mindful that when WWL was and contractors, look forward to
requirements of both the TDC and WIL
incorporated in December 2018 it delivering on our promise to secure
is the most cost-effective option for a
was not only a key milestone for water for the region and realise the
regional dam, while minimising costs
the region but the culmination of commitments made in the Statement
for ratepayers.
many years of work to progress the of Intent.
dam. The former Nelson Catchment Financial investment and support for
and Regional Water Board first this significant infrastructure project
commissioned a study to consider was secured from Crown Irrigation
building a dam in the Wairoa Gorge Investments Limited, TDC and WIL. Karen Jordan
as early as 1979, and other dam Our neighbour Nelson City Council
options in the Moutere area were also also contributed to the funding of the
considered over 25 years ago. dam and a grant was received from
the Ministry for the Environment. This
This year’s drought further highlighted
all adds up to best value for all parties
the need for greater water security in
and reflects the spirit of collaboration
the Tasman region. Research shows
in helping to achieve sustainable
that New Zealand gets plenty of water
communities.
each year and uses less than two
percent of it. It’s clear that we need to The WWL Board has seven
be smarter about storing it for when experienced Directors appointed
we most need it. by TDC, WIL and Ngāti Koata. The
Directors have strong ties to the local
The Waimea Community Dam will
community and expertise across
provide reliable access to water and
a range of disciplines including
meet the demand of urban and rural
governance, risk management, water
communities in the Waimea Plains
and dams. We meet regularly and
for the next 100+ years and in doing
are committed to a high standard of
so, plays a vital part in supporting
corporate governance and regulatory
the region to thrive. A secure water
compliance in guiding and monitoring
supply underpins the growth and
WWL’s activities.
economic prosperity of a community.
It provides future generations with We have every confidence that the
opportunities to remain in the region management team we have put in
and raise their families. place at WWL will build and operate
10 11WAI ME A WATE R LIMIT ED | AN N UAL REPORT 2019 OVERVIEW
“I strongly believe that Report from Chief Executive Officer
the dam will secure our
region’s water supply and
is fundamental to both
building resilience within
our growing community
and providing greater
protection of our local I am delighted to be back home in
the Nelson Tasman region and to
We have a management system in
place to support us to achieve our
2021 to fill the 13 million cubic metres
reservoir in 2022.
economy.” have the opportunity to lead such objectives, in the areas of safety,
We have put measures in place to
an important legacy project for our financial and budget controls, risk
monitor and manage environmental
region. I appreciate the generally identification and mitigation, project
considerations around construction,
strong support from the community, controls, management of change and
such as monitoring water quality
and I understand what this key regulatory controls.
and managing sediment run off.
investment means for the region.
The design reflects international best Our environmental sustainability
Following last summer’s drought,
practice and is appropriate for the programme is also underway which
most people I talk to ask whether we
location and geology of the site. includes relocating rare species from
can build the Waimea Community
The concrete face rockfill dam the dam catchment area and the
Dam any quicker.
meets the high standards under the upcoming restoration of the Rough
I strongly believe that the dam will building regulations and the New Island Wetlands. Our Environmental
secure our region’s water supply Zealand Dam Safety Guidelines. The Management Plan supports us to
and is fundamental to both building design has been peer reviewed by achieve the requirements under
resilience within our growing many experts. We have appointed the Resource Consent and includes
community and providing greater and are supported by independent planning around biodiversity, vegetation
protection of our local economy. specialist dam consulting engineers, clearance, traffic management, erosion
Good infrastructure, such as the Damwatch Engineering Limited, who and sediment control.
Waimea Community Dam, will are recognised as one of the leading
WWL is well positioned to deliver this
undoubtedly protect and enhance our dam experts in the Asia-Pacific region.
transformational project, which is
primary industries, which in turn will WWL and Damwatch are focused
fundamental to meeting our water
lead to more secondary and tertiary on optimising the design to reduce
demands and moving our regional
industries to provide opportunities costs, geological risks and improve
economy forward.
for generations to come and drive operability.
economic prosperity within our region. I look forward to the successes and
The dam is being constructed for
challenges that lie ahead as we strive
Since joining WWL in April 2019, I have WWL through a joint venture between
to deliver New Zealand’s first large
worked with the Board to put in place a experienced local companies Fulton
dam in over 20 years.
small team of experienced specialists Hogan Ltd and Taylors Contracting
to build and operate the Waimea Co Ltd who have undertaken similar
Community Dam in a safe, reliable and projects together in the South Island.
efficient manner. The team consists Work commenced in March 2019 and
Mike Scott
of qualified professionals with early work has been centred on site
expertise in the area of dam design, access. Excavation and mining of rock
construction, project management, is due to commence in August 2019,
operations, environmental and and river works and structures are due
sustainability management, business to commence later in 2019. The dam
and corporate management. is scheduled to be complete in late
12 13WAI ME A WATE R LIMIT ED | AN N UAL REPORT 2019 OVERVIEW
Executive Management Team
Richard Timpany
Commercial Manager Daniel Murtagh Iain Lonie
Mike Scott and Company Secretary Technical Manager and Engineer Engineering and Project Manager
Chief Executive Officer Bachelor of Laws, Bachelor of Commerce Representative Bachelor of Engineering (Civil), Master of
Master of Engineering (Civil) (Finance) Bachelor of Engineering (Hons) (Mechanical) Engineering Science (Geotechnical)
Mike has a Master of Engineering with Distinction in Civil Richard was admitted as a Barrister and Solicitor of the High Daniel holds a Bachelor of Engineering (Hons) (Mechanical) Iain is a Chartered Professional Engineer (Aus) and a
Engineering from the University of Canterbury, specialising Court of New Zealand in 2004 following graduating with a degree, and is a Chartered Professional Civil Engineer, an Registered Professional Engineer of Queensland. He holds a
in environmental engineering and has completed executive Bachelor of Laws and Bachelor of Commerce (Finance) from International Professional Engineer and member of the NZ Bachelor of Engineering (Civil) from University of Auckland
international management training at the Thunderbird School Otago University. Society of Large Dams. and a Master of Engineering Science (Geotechnical) from the
of Global Management in Arizona. University of New South Wales.
Richard worked in various capital market roles in Sydney He has extensive knowledge in the development of
Mike has 27 years’ post graduate experience in business and and then London before returning to New Zealand. He has challenging large-scale capital projects around New Zealand. Iain has a background in dams, tailings and geotechnical
commercial development, strategy, planning, operations and consulted on irrigation projects in Central Otago prior to Most recently, Daniel successfully managed the ground up engineering in a variety of locations, including New Zealand,
engineering in predominantly the energy sector in Australia, becoming the Chief Executive Officer at Hunter Downs development of the $45M Sheffield Water Scheme in mid- Australia and South East Asia. His experience includes, the
Scotland, USA and New Zealand. Before joining WWL, Mike Development Company in Timaru. Canterbury. This project involved the design, consenting, feasibility, preliminary and detailed design of Greenfield
was the Vice President North West Shelf Venture at Woodside capital raising and construction of a cooperative irrigation dams’ projects and the assessment, design and construction
Energy Limited, a top 15 ASX A$30B market cap company, scheme including a High PIC earth ring embankment dam. of dam upgrades. He gained his expertise working in
where he also held the position of Chief Executive Officer design and construction roles at GHD and most recently as
Daniel has significant experience in infrastructure project
for one of Australia’s largest economic assets, the A$34B Dams Team Leader for the Snowy Mountains Engineering
management, administration of New Zealand construction
North West Shelf LNG Joint Venture Project. Mike previously Corporation (SMEC) in Queensland.
contracts, water reticulation design, quality control and plant
held the position of Vice President for Strategic Business
commissioning.
Development and Growth at Woodside Energy Limited with
the responsibility of growing Woodside’s business in Australia
and internationally.
Alasdair Mawdsley
Richard Milsom Environment and
Project Services Manager Dave Ashcroft
Sustainability Manager
Bachelor of Science (Hons) Construction Chief Financial Officer Bachelor of Science Geography and
Management Chartered Accountant Environmental Management’
Richard is an Incorporate Member of the Chartered Institute Dave has significant commercial experience spanning three Alasdair has nine years’ environmental management
of Building and has over 30 years in the building and civil decades, specialising in organisations undergoing significant experience and a Bachelor of Science, majoring in geography
engineering industries in the United Kingdom and New Zealand. change in a variety of industry sectors in New Zealand, and environmental science from Auckland University.
He has a diverse portfolio of experience, including over 20 years Australia, the United States and Europe. In 2017, he launched
Prior to joining WWL, he managed consenting, environmental,
project management. He joined Waimea Water Ltd after eight his own business advisory company and has recently worked
sustainability and heritage issues for Downers and
years at McConnell Dowell and four years at HEB Construction with Koata Ltd, NZ Artesian Water and the Aimex Service
McConnell Dowell Constructors Ltd on the Auckland City Rail
working on the two largest infrastructure projects undertaken Group. Previously Dave had senior executive team roles at
Link (CRL), a project that involved underground tunnelling in
by Christchurch City Council; the safety award-winning Sumner the Cawthron Institute and at a Sealord aquaculture joint
a high risk, dense urban environment.
Road Rehabilitation and the Lyttleton Wastewater Upgrade. venture in Tasmania.
Alasdair’s former experience also includes work on the Te
Richard has large earthworks experience, including the Mercer Dave is passionate about the success of the region
to Long-swamp motorway extension; Sir Barry Curtis Park, Mihi Geothermal Power Project, Waterview tunnels and a
and supports a small number of local businesses and
the one million3 earthworks project that created Flatbush in range of smaller tunnelling projects. He also brings eight
organisations in both a commercial and volunteer context. He
Manukau and the Ashburton Business Park. years’ experience from an early career in the freight industry.
is a Chartered Accountant and a member of the NZ Institute
Richard’s portfolio at WWL includes project health & safety, of Directors and of the Australian Institute of Company
schedule performance, cost management and risk strategies. Directors.
14 15WAI ME A WATE R LIMIT ED | AN N UAL REPORT 2019 OVERVIEW
AREAS OF
ACTIVITY
Design
The science behind building a Public safety will always be WWL’s Another notable feature is that the
quality dam is complex and this paramount consideration, and the design utilises the rock material
year we engaged the knowledge and design and materials have been excavated from the site during the
expertise of specialists across a selected to withstand significant forming of the dam itself, which is an
range of disciplines. natural hazards. This includes an environmentally responsible practice.
earthquake with a 1:10,000-year The design also uses nature’s delivery
As a responsible dam owner, WWL
probability of occurring and a Probable system - the rivers, to increase water to
has a primary obligation to avoid
the aquifers that supply our community
exposing the community to risks or Maximum Flood (PMF) event that
with water. The dam will release stored
hazards associated with the build is greater than 1000 m3/s, or nearly
water slowly down the river during drier
and management of the Waimea 3 times the 100-year flood, and is
months, increasing their flows and
Community Dam. To achieve this equivalent to one and half times the
adding water to the aquifers naturally.
requirement, the dam has been size of the reservoir flowing over the
designed in accordance with the spillway in a 24 hour period. Designing Objective
New Zealand Dam Safety Guidelines, to these two levels represents the WWL’s aim is to design the right dam
New Zealand Standards, New Zealand highest design standard under the for the location and to meet the needs
Building Regulations, international New Zealand Safety Guidelines. of the region now and in the future - a
best practice and to the highest quality design that is safe, reliable and
A crucial component of the dam is
possible standards for floods and efficient, and in line with international
the design of the rockfill which firstly
earthquakes. best practice.
provides an impermeable layer and
Following a rigorous evaluation secondly allows water to flow through Progress
process, the dam selected was a preferred channels in a controlled Leading dam engineering experts in
concrete-face rockfill dam which is manner in the very unlikely event of the Asia-Pacific region, Damwatch
the most appropriate design for the damage to the upstream dam liner. Engineering Ltd, has been appointed
geology, location and seismic risk This means that no uncontrolled loss to provide independent review of the
of the site. of the reservoir can occur. design and build process.
16 17WAI ME A WATE R LIMIT ED | AN N UAL REPORT 2019 OVERVIEW
This year, Damwatch has reviewed regulator, has commenced. about the properties of the rock
Construction
the majority of the 257 drawings that This ensures councillors and being removed from the ground and
set out the major components of relevant staff are kept informed of those needed for the embankment. WWL’s focus this year has been to along with preparation of a number of As at 30 June 2019, approximately
the dam to optimise the design and proposed enhancements to maintain get key contracts and sub-contracts management plans to meet contract 35 contract personnel were working
identify efficiencies. The drawings transparency and compliance as part finalised, mobilise plant and and resource consent conditions. regularly onsite. A further 130 people
Next steps
include structural detailing for of the building consent process. machinery, as well as attract great Access to the site was restricted were inducted and working on site at
In the first quarter of the 2019/20
the concrete membrane, spillway, people to build the dam in a safe, during the first quarter of 2019 as various times, contributing to a total of
Risk Planning year, the drawings will be
concrete joints, pipework, plinth, reliable and efficient way. a result of the drought and Pigeon 20,000 person-hours, using 23 various
finalised, and the construction
conduit, bridges and embankment The risk of natural hazards is relevant items of plant and machinery. This
phase of the dam will commence. Valley fire event with more stringent
to all areas of the construction and Objectives
zoning. The concrete-face is being number is expected to ramp up during
fire prevention measures put in place
reviewed to improve longevity and to management of the dam. Designers and peer reviewers will WWL’s aim is to work collaboratively
until early March. the course of construction when
continue to be actively involved with our construction contractor,
reduce costs, and the design of the Although it is not always practicable parallel work activities and specialist
during the build process to and to be responsive and open to Work on upgrading the 6.5 km
spillway, plinth and culvert have also to have plans in place for every event tasks are undertaken as anticipated in
address issues as they arise.
been enhanced. opportunities that enhance the dam Lee Valley access road to the dam the build programme.
that may seriously disrupt work, a
Preparation of dam safety as the build progresses. site will be completed early in the
The contractors have been actively considerable amount of planning has
management systems and 2019/20 financial year, including Risk planning
involved in the revision process, been undertaken for potential future WWL is striving to build a world-class
developing the design for As mentioned earlier in this report,
flooding, drought and fire-related dam that complies with regulations and widening for safety and improved
providing input to constructability and communications and the supply
emergency events. traffic flow, and installing rock fall adverse weather remains a risk to the
offering alternatives to add value to of power to the site will also best practice guidelines.
protection measures. Construction project and resilience plans have been
the process. Compaction and permeability trials commence in the first quarter of
Progress of the haulage roads to the dam developed to mitigate this risk.
commenced in 2018/19, which the 2019/20 year.
A cycle of updates to the Tasman
The construction contract for the site, sediment retention ponds and Measures to mitigate flood
District Council, in their role as provide a greater level of confidence
dam was awarded to a joint venture construction compound were also damage remain a key focus for
between experienced local company near completion at the end of the the construction team especially
Taylors Contracting Ltd and Fulton financial year. Vegetation clearance during this early period when
Hogan (FHTJV) on 21 December beneath the dam and reservoir temporary river diversion structures
2018 after a phase of early contractor commenced in June. Substantial are in place. Considerable design
involvement.
progress has also been made on and planning effort has gone into
Contract work commenced in construction of an alternative access developing a robust method for
January which involved recruiting road to blocks of land which would diverting the river to minimise the
personnel and mobilising plant and otherwise be landlocked once the likelihood of damage or setbacks
equipment to the construction site reservoir is filled. during predicted flood events.
Next steps excavation work and construction of Construction of the Starter Dam, the
In the first quarter of the 2019/20 a number of bunds, Coffer Dams, to foundation, is expected to commence
year, work on Lee Valley access redirect the river flow in a controlled in late 2019 and the plinth and
road will continue which will include manner to ensure concrete work can grout curtain will be subsequently
installation of two bridges to improve be completed in dry conditions. In the constructed during 2020.
long term access and flood resilience latter part of the financial year, the
during construction and operation of river will be rediverted through the
the dam. newly constructed culvert to enable
construction of the reinforced rockfill
Planning for the first diversion of the section of the dam over the culvert.
river is underway which will enable In parallel with this work, relocation,
the construction of the 160-metre- salvage and clearance of vegetation
long, 4 metre x 5 metre concrete within the reservoir footprint behind
diversion culvert on the right-hand the dam will begin.
side of the river. This will involve
18 19WAI ME A WATE R LIMIT ED | AN N UAL REPORT 2019 OVERVIEW
CRITICAL PATH Health and Safety
Preliminary Works CHARTER
Earthworks
This year we established our Charter, which is:
WWL is committed to a culture that creates personal accountability for and a relentless focus on health and
River Diversions
safety as part of the way we do things. WWL lives the value:
Plinth and Grouting
Concrete Face “No task is too important or so urgent as to preclude health and safety.”
Wave Protection
We will do this through:
Spillway • the Board and management modelling behaviours that they expect from WWL staff and contractors
Bridges
• establishing best practice health and safety behaviours in the field and in the office environment, monitoring
adherence to these practises and taking immediate corrective actions, if required
Mechanical and Electrical
• ensuring that WWL and those who are working for WWL meet all health, safety and environment
Fish Pass regulatory obligations.
Instrumentation
Miscellaneous Structures
Commis Objective WWL has worked closely with incidents raised by workers.
sioning
Health and safety protects the well- contractors to establish a safety • Health and Safety Representatives
Disestablishment
being of people. reporting culture with strong (HSR) who provide a voice for
Jan Feb Mar Apr May June July Aug Sep Oct Nov Dec Jan Feb Mar Apr May June July Aug Sep Oct Nov Dec Jan Feb Mar Apr May June July Aug Sep Oct Nov Dec Jan Feb Mar Apr leadership endorsement. This is workers who would otherwise not
Personal and process safety is of
2019 2020 2021 2022 important to identify hazards, analyse speak up about health and safety
paramount importance to WWL.
trends, explore ‘root cause’ behaviours matters. They undertake training
Critical Path WWL will be a leader in health and
and learn from ‘near misses’ or to enable them to upskill their
safety management, ensuring both the
incidents, however small. knowledge and are on the Health
protection and welfare of our extended
Trust is pivotal to the success of and Safety Committee.
workforce, and compliance with the
Health and Safety at Work Act 2015. this process and WWL has endorsed • Toolbox talks were implemented
the contractors’ proactive Worker and are a forum for engaging
WWL is committed to a robust health
Recognition Programme which with staff about learnings from
and safety system that provides an
encourages project leaders to give recent incidents (internal and
assurance for our people, contractors
positive reinforcement to their workers external) and near misses,
and the public that their personal particularly for innovation, safety feedback on action taken and
safety and well-being matters. and managing difficult tasks. WWL current safety and environmental
Progress regularly reviews contractor method areas of focus. The talks
Montage to come WWL has developed a Health
statements to assess risk, controls are distributed weekly to the
and mitigation. contractors’ employees via
and Safety Management System
email and health and safety
to actively manage this function Other initiatives introduced include:
noticeboards. The toolbox talk
throughout the workplace consistent • The establishment of a Health and
is delivered on site at a daily
with industry best practice and the Safety Committee to review the
prestart by the zone’s site
contractor’s own systems. WWL health and safety performance of
engineer for sub-contractors.
processes and documents are the project, including reviewing new
reviewed on a regular basis as part of policy, procedure and the Health
our commitment to continuous health and Safety Management System
Caption?
and safety improvement. each year along with any issues or
20 21WAI ME A WATE R LIMIT ED | AN N UAL REPORT 2019 OVERVIEW
Risk planning
HEALTH AND SAFETY Project Performance
The development of the Health and Safety Management
Safety Performance In December 2018 when WWL was incorporated, an approved baseline that is regularly refreshed and maintained through
System is based on a ‘zero harm’ culture and documents
the key requirements to achieve a safe working environment. 30 design and baselines for cost and project schedule were an active risk management process.
WWL considered NZ Health and Safety legislation and agreed with shareholders and financers. Managing these
WWL operates an inclusive risk model and has an open forum
international dam safety guidelines as minimum standards 25 parameters is set in the company constitution, shareholders’ to engage widely with staff. This helps maintain a broader
when developing risk controls. agreements and the Project Funding Agreement. perspective and provides an opportunity to further explore the
WWL recognises that an effective health and safety system 20 WWL provides regular reporting against these schedules risk or identify appropriate contingencies or mitigation.
Observations (Leading)
is paramount to constructing and operating a safe, reliable to deliver the project and keep both shareholders and
Risk planning
TRIFR (Lagging)
and efficient dam. WWL reduces safety clutter by focussing 15 financers informed of progress.
WWL senior managers continue to be an integral part of the
on key risks, process safety and engaging workers in these
WWL has developed and uses a risk management system risk committee, and the risk register is regularly reviewed
processes which is key to the success of the programme.
10 that proactively understands and mitigates risks. and updated to reflect developments as the project evolves.
Objective WWL administers a contingency to cover reasonable
5 risks. The contingency was determined probabilistically
Next steps WWL is committed to delivering the Waimea Community
using reasonable distributions for items at risk, which
Ongoing monitoring and auditing of incidents with Dam on schedule and within budget.
0 is predominantly sub-surface geology, and equates to
a view to updating risk controls to ensure the Health
Progress approximately 25% of the project components that are not
and Safety Management System reflects learnings
fixed and are at risk.
Jan 19
Feb 19
Mar 19
Apr 19
May 19
Jun 19
Jul 19
Aug 19
Sep 19
Oct 19
Nov 19
Dec 19
and remains relevant in an evolving construction WWL has adopted the New Zealand Transport Agency Z/44
environment. standard for risk management and has a comprehensive WWL holds insurances for Contract Works, General Liability
Safe Observation At Risk TRIFR strategic and operational risk register in place, which sets a and Statutory Liability.
RISK MANAGEMENT
Next steps
78% of Project Budget is Fixed
In the 2019/2020 financial year, WWL will continue to
look for opportunities to reduce costs and risks on the
project through implementing risk mitigation plans.
Measure and Value
Engineering (Geology) $3m, 3%
& Verification Contingency
$5m, 5% $6m, 6% Provisional Sum
(M&E) $6m, 6%
ECI/Land
Remeasure
Rock $9m, 9%
Contract Lump Sum
WWL’s Daniel Murtagh discusses plans with Contractor Matt Taylor. WWL and the Contractor work together closely on safety. Here
Contractor Peter Wissel briefs visitors on safety.
22 23WAI ME A WATE R LIMIT ED | AN N UAL REPORT 2019 OVERVIEW
Environmental Protection Environmental
and Compliance Sustainability
WWL is committed to minimising its The following Supplementary Risk planning Social and environmental the Waimea Community Dam to
operating impact on the environment Construction Environmental Monitoring compliance with resource sustainability is at the heart of what the highest affordable sustainability Next steps
by using practices that protect the Management Plans (SCEMP) have consents and environmental WWL does and underpins the project standards. During the construction and
environment during the build and also been developed and certified: legislation is key to mitigating WWL’s from conception, planning and operation of the dam, WWL
Progress will continue to implement the
operation of the dam. environmental risk. The development of design through to construction
• SCEMP 1: Access road to dam site
and operation. WWL has developed an Environment programmes committed to in the
WWL is complying with 130 resource – roading improvements Environmental Management Plans and
and Sustainability Plan to embed good Biodiversity Management Plan.
consent conditions.These conditions an adaptive management approach The dam will have environmental
• SCEMP 2: Site compounds, practice for delivering sustainable
include salvaging rare plants from the that ensures learnings throughout the benefits for the region, including
disposal area and concrete infrastructure in the project.
reservoir footprint and propagating construction process are included in healthier Lee and Waimea Rivers.
batching plant
them, offsetting vegetation loss via a the plans, means that WWL is well The dam will improve water quality Consistent with the Partnering Deed
• SCEMP 3: Access to eastern and
range of biodiversity enhancements, placed to achieve compliance. to provide a better environment for between WWL and Ngāti Koata, the
western dam abutments.
preparing to prevent and respond to plants, fish and animals, and in doing project is working closely with the iwi
A range of water quality and river
SCEMPS 4 -7 will be developed prior to protect and nurture taonga in the
spills, constructing sediment ponds health metrics have been put in so, create more opportunities for
to the works commencing that they area and to integrate Māori cultural
to protect water quality, vegetation place to regularly assess the impact people to enjoy fishing, swimming
relate to. values in caring for the environment
clearance, measuring and tracking of construction work downstream. and other recreational activities all
river water quality and remediating the Vegetation clearance of the reservoir year round. in WWL’s work. Always being mindful
These measures ensure that an
land within the project footprint upon and dam footprint has commenced of the natural environment is vital for
accurate picture of river health is
Objective the success of WWL’s Environmental
completion of the dam. under the Vegetation Clearance Plan. available so emerging issues can be
Most vegetation, being larger trees, WWL’s vision is to build and operate Sustainability Strategy.
resolved quickly.
Objective
will be removed from the site and
WWL is delivering a project that has The concrete batching plant will be
WWL is working with Ngāti Koata to
environmental and economic benefits built on an elevated platform to keep
salvage larger native trees. Residual
for the region and is ensuring these it clear of the river so in the event of a
smaller vegetation is being mulched
benefits are not eroded through flood, the health of the waterway is not
to provide protection against growth
unexpected adverse effects on the affected by the plant.
and sediment run off. The mulch
environment. is expected to decompose during
construction of the dam before the
Progress Next steps
reservoir is filled.
WWL and construction partner, WWL has the people and systems
FHTJV have jointly developed To support WWL’s obligations under for environmental auditing,
Environmental Management Plans the Emissions Trading Scheme (ETS), monitoring and training. Through
in preparation for the start of WWL is working with a qualified a continuous Plan, Do, Check and
forestry contractor to carry out ETS Improve cycle, WWL monitors
construction works. These plans
accounting and reporting for the compliance, deals with change and
have been certified as compliant with
clearance of pre-1990 trees in the ensures our construction partners
resource consent conditions by the
continue to work in a manner that
Tasman District Council and include: dam footprint.
protects our natural environment.
• Vegetation Clearance Plan Pre-construction river water quality
monitoring has been completed; this will
• Construction Environmental
form the baseline for future monitoring.
Management Plan
Turbidity loggers have also been
• Construction Traffic Management
installed to monitor the ‘murkiness’
Plan
of the river by assessing the level of
• Erosion and Sediment Control Plan material suspended in the water.
• Hazardous Substances –
Emergency Spill Contingency Plan.
Sediment retention ponds.
24 25WAI ME A WATE R LIMIT ED | AN N UAL REPORT 2019 OVERVIEW
PERFORMANCE
A Biodiversity Management Plan has also been developed and includes the following key initiatives:
Maintain Eel Passage – a fish pass is incorporated into the Rough Island Wetland Restoration – to mitigate the removal
dam design to allow upstream eel migration. Once operational of forest from the dam footprint, WWL is organising the
WWL will monitor the fish pass to assess how well it caters for planting of a 10-hectare wetland buffer on Rough Island.
downstream migrating eels. Further activities may be required The land around the wetland will be retired from forestry and
to ensure the eels continue to thrive. planted out in native vegetation. It will improve biodiversity
Starts 2019 with fish passage design – long term project on the land and provide protection to the unique wetland on Operating and Financial Overview
the site.
Rare Plants – the dam and reservoir footprint have a number Starts 2019 with weed management and plant procurement
Waimea Water Ltd is fully funded by its shareholders, Controlled Organisation loan to the project. Interest is
of rare plants, including NZ shovel mint, scented boom, rock
coprosma and river cloak daisy. Biodiversity experts have Protecting Alluvial and Riparian Forest – WWL has acquired
Tasman District Council (TDC) and Waimea Irrigators Ltd expected to be earned from term deposits.
collected samples to transplant and propagate these plants a covenant to protect two existing alluvial and riparian forest (WIL) to the project budget of $104.4 million. WIL funding
Spend to 30 June 2019 is $19.2 million, of which $6.3
into suitable habitats in the region. By establishing a greater areas within the Wairoa River catchment from development. is sourced from WIL equity contributions and a Crown
number of populations and increasing the number of plants WWL will also carry out pest and weed management million was expended prior to the investment decision on
Irrigation Investments Ltd (CIIL) loan that converts to WIL
through nursery propagation, WWL expects these species to activities to restore these areas to a more natural state. early commitments made that include land acquisition,
flourish in the future. equity as the loan is repaid with water usage by WIL.The
Commence planting in 2019 design, procurement, early contractor involvement,
Started 2018 – ongoing transplant and propagation TDC equity contributions are sourced from TDC, TDC loans
consenting, project office and governance. Expenditure is in
Gorge Turf – WWL will monitor downstream Gorge Turf from CIIL and grants from the Ministry for the Environment
line with the project budget.
Restoring the Lee River – a programme of controlling invasive communities to assess potential effects of the dam on these and Nelson City Council. TDC will also advance a Council
weeds and pests as well as carrying out planting within the plants at two locations in both the Lee and Wairoa Rivers.
riparian margin on the banks of the Lee River downstream of Starts 2019
the dam is planned. The aim is to enhance the ecological value
of the river margin to support the natural systems that feed FUNDING AND SPEND FORECAST COST & SCHEDULE TO COMPLETE
into the Lee River.
Physical works to start 2020 WWL Sources and Uses of Funding ($M) ($M)
$120 $120
CCO Loans and Interest Contingency
$100 $100
TDC Equity (NCC)
TDC Equity (MfE)
$80 $80
TDC Equity
(CIIL)
JV Contract $60
$60 TDC Equity
$40 $40
WIL Loan (CIIL)
$20 $20
Project Office
WIL Equity Engineering
Environment & Land
ECI Costs (Spend pre-2019)
$0 $0
Sources Uses
Dec 18 Sep 19 Apr 20 Dec 20 Aug 21 Apr 22
Relocation of rare plant species. Measuring river water quality. Project Costs Budget Project Costs Actual
26 27WAI ME A WATE R LIMIT ED | AN N UAL REPORT 2019 OVERVIEW
Performance against
Statement of Intent
Health and Safety • Achievement of the Tree
No task is too important or so urgent Management and Carbon Funding envelope
as to preclude health and safety. Offsetting Plan milestones.
Achieve value for money through fiscal
• Development and implementation Plan and milestones in and budgetary prudence and efficiency.
of an annual Health and Safety development, will then meet
• Track percentage of variance
Management Plan. milestones as they fall due.
between actual and budget.
WWL has developed a Health • Effective engagement with the
and Safety Plan System in line BTAG. 11% of budget not yet spent.
with industry best practice and • Transparent reporting to
Biannual meetings held, with
the contractors’ own systems. advice informing WWL actions. stakeholders.
• Quarterly audit compliance score • Achievement of our Sustainability Regular updates to
from FHTJV. Communications and Engagement shareholders and financers.
95% compliance score in Plan milestones. • Unconditional sign off of the
audits undertaken by WWL. Plan and milestones in Company accounts from external
• Percentage of incidents development, will then meet auditors.
investigated, reported, actions milestones as they fall due. Achieved.
assigned and closed out within Project delivery Communication and engagement
two weeks.
WWL will deliver the Waimea Stakeholders and the community are
Not applicable (no incidents). Community Dam to quality, time and engaged to become more informed
• Total Recordable Injury Frequency cost in accordance with shareholders’ about the dam and its benefits. WWL
Rate. expectations. has a range of formal and informal
Zero. • The dam is built as designed, to communication channels, and there is
Sustainability and social outcomes the quality and safety guidelines readily available information about the
We will comply with resource consent applicable. project, its benefits and impacts that
conditions, including the requirement On track to achieve this when it is current and plain English. Enquiries
to relocate rare native species, enhance falls due. have been responded to promptly and
lowland areas (e.g. the lower reaches of any issues resolved.
• Built as Designed Certificate
the Waimea River and native areas of issued by Design and Assurance • Track quarterly and annually
Rabbit Island), considering advice from Consultants, verified by the information provision and events.
the Biodiversity Technical Advisory Independent Technical Engineer. Quarterly presentations to
Group (BTAG).
On track to achieve this when it shareholders, AGM pending.
• 100% compliance with resource falls due. • Proportionate social media
consents.
• The dam is constructed to presence and communication.
All consent conditions due to schedule in accordance with the
be met have been met, on track
Social media accounts setup
baseline plan.
– 259 Facebook and 94 Twitter
to meet all those not yet due.
Expect to meet schedule. followers.
• Achievement of the Environment
• Practical completion is achieved Stories in national and local
and Sustainability Plan milestones.
on or before September 2021 and publications, newspapers and
5 Environmental Management commissioning is achieved on or newsletters.
Plans developed and certified. before February 2022. • Mana Whenua engagement
3 of 7 Supplementary Expect to meet completion dates. through agreed channels.
Construction Environmental Current activities following plan.
Management Plans (SCEMP) Engaging with iwi, Kaumatua,
have also been developed and Trustees, Directors and staff as
certified. appropriate.
28 29WAI ME A WATE R LIMIT ED | AN N UAL REPORT 2019 GOVER N ANCE
Governance
Corporate Governance
The WWL Board is committed to a high standard of Government Act 2002 and other relevant legislation.
corporate governance and regulatory compliance in guiding
Board performance is evaluated on an annual basis.
and monitoring WWL’s activities.
Directors are appointed for a period of four years.
The Board carries out its accounting, reporting, risk
The Board has seven highly experienced directors
management and decision-making responsibilities in
appointed by shareholders and iwi, as follows:
accordance with legislation and the directors comply with
their obligations under the Companies Act 1993, the Local Tasman District Council - 4, Waimea Irrigators Ltd - 2 and
Ngāti Koata - 1.
Corporate Structure
The WWL Board is supported by four committees Board that provides systems for management of change;
that consist of subgroups of directors and staff. The risk management; authorities and financial controls;
committees provide governance and assurance across budget controls; organisation preservation and regulatory
audit and risk; human resources; design and construction; compliance. An external audit is completed annually for the
and sustainability and communities. The management of Board by Audit NZ.
WWL works to a management system approved by the
STAKEHOLDERS
BOARD
Delegation Accountability
Human Resources & Design & Sustainability &
Audit & Risk
Compensation Chief Executive Officer Construction Communities
Committee
Committee Assurance Committee
Management Governance and Assurance
Independent
Assurance
Management of Change Budget Controls
Waimea
External Audit
Risk Management Water Organisation Preservation
Waimea Water
Authorites & Financial Controls Management System Regulatory Compliance
30 31WAI ME A WATE R LIMIT ED | AN N UAL REPORT 2019 GOVER N ANCE
Board of Directors
Julian Raine David Wright
Karen Jordan Ken Smales
Director Director
Chair Director (Waimea Irrigators Ltd) and Chair Director (Tasman District Council) and Chair Human
(Tasman District Council) Sustainability and Communities Committee (Tasman District Council)
Resources and Compensation Committee
Karen is a qualified Accountant (FCMA) and project manager Julian’s career background is in agriculture and horticulture Ken has nearly 50 years of engineering experience in David is a Company Director, Management Consultant and
with over 20 years’ corporate general management experience and he is actively involved in a wide range of export focussed all aspects of dam building, including design, consents, former Chief Executive. His current directorships include
in FTSE Top 20 infrastructure companies. She has extensive businesses. He is a former Director on the Cawthron Institute construction, operation, safety, hydro power generation and Chair of Wellington Water Limited and a Director of the
commercial operations and asset management expertise; Board, Director and Deputy Chair on Manaaki Whenua irrigation. He was involved in the Central Plains Irrigation Waikato District Council Waters Governance Board, both
latterly with National Grid plc across a £1BNpa construction Landcare Research and Chairman of Sirtrack. Julian is Project in Canterbury worth $450 million for five years and council owned organisations providing drinking water, storm
programme. Prior to moving permanently to NZ, she was also the chair of Wai-West Horticulture and a Director and has also been the Deputy Chairman of DamWatch for 10 water and waste-water services. David was previously
Director of Contract Management for UK Defence, with shareholder of Waimea Irrigators Ltd. years and a Director of Southern Generation Australia and employed as Acting Chief Executive of Palmerston North
responsibilities across a multi-billion-pounds project delivery their subsidiary company Meridian. City Council.
portfolio. She is an Independent Member of the NZDF Risk
and Assurance Committee and is currently a Director of City
Rail Link Ltd, providing governance in the construction of New
Zealand’s largest ever infrastructure project.
Director
(Tasman District Council) and Chair Design
and Construction Committee
Doug Hattersley Bruno Simpson
Director Director Andrew Spittal
(Tasman District Council) and Chair Design (Waimea Irrigators Ltd) and Chair Audit and Director
and Construction Committee Risk Committee (Ngāti Koata)
Doug has over 45 years engineering and project management Bruno is the Director - Sales, Finance and Administration Andrew is a Director and Shareholder in a national company
experience on large international infrastructure. He is a at Waimea Group and Chairman of the International New and several local companies. He has a vast range of
Graduate Member of the Australian Institute of Company Varieties Network. He has been actively involved in Waimea commercial experience in the civil construction industry with
Directors, a Chartered Professional Engineer and has a Irrigators Ltd (WIL) and is also a director of Century Water over 25 years in the field, including transforming a residential
Bachelor of Engineering (Honours) (Civil) degree from the Ltd, the other major funder of WIL. drainage business into one of Nelson’s largest drainage
University of Canterbury. Doug is currently a consultant for and water reticulation specialists. Andrew represents the
renewable energy and infrastructure companies. interests of Ngāti Koata as their nominated Board Director.
32 33WAI ME A WATE R LIMIT ED | AN N UAL REPORT 2019 ANNUAL R EP O RT
Annual Report
FOR THE YEAR ENDED 30 JUNE 2019
Independent Auditor’s Report
To the readers of Waimea Water Limited’s financial statements and performance information for the
seven months ended 30 June 2019
The Auditor General is the auditor of Waimea Water Limited (the company). The Auditor General has appointed me,
John Mackey, using the staff and resources of Audit New Zealand, to carry out the audit of the financial statements
and performance information of the company on his behalf.
Opinion
We have audited:
• the financial statements of the company on pages 41 to 54, that comprise the statement of financial position as
at 30 June 2019, the statement of comprehensive revenue and expense, statement of changes in net assets and
statement of cash flows for the seven months ended on that date and the notes to the financial statements that
include accounting policies and other explanatory information; and
• the performance information of the company on page 28.
In our opinion:
• the financial statements of the company on pages 41 to 54:
• present fairly, in all material respects:
• its financial position as at 30 June 2019; and
• its financial performance and cash flows for the seven months then ended; and
• comply with generally accepted accounting practice in New Zealand in accordance with New Zealand
equivalents to International Financial Reporting Standards Reduced Disclosure Regime; and
• the performance information of the company on page 28 presents fairly, in all material respects, the company’s
actual performance compared against the performance targets and other measures by which performance was
judged in relation to the company’s objectives for the seven months ended 30 June 2019.
Our audit was completed on 12 September 2019. This is the date at which our opinion is expressed.
The basis for our opinion is explained below. In addition, we outline the responsibilities of the Board of Directors and
our responsibilities relating to the financial statements and the performance information, we comment on other
information, and we explain our independence.
34 35WAI ME A WATE R LIMIT ED | AN N UAL REPORT 2019 ANNUAL R EP O RT
Basis for our opinion As part of an audit in accordance with the Auditor General’s Auditing Standards, we exercise professional judgement
and maintain professional scepticism throughout the audit. Also:
We carried out our audit in accordance with the Auditor General’s Auditing Standards, which incorporate the
Professional and Ethical Standards and the International Standards on Auditing (New Zealand) issued by the New • We identify and assess the risks of material misstatement of the financial statements and the performance
Zealand Auditing and Assurance Standards Board. Our responsibilities under those standards are further described in information, whether due to fraud or error, design and perform audit procedures responsive to those risks, and
the Responsibilities of the auditor section of our report. obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting
a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve
We have fulfilled our responsibilities in accordance with the Auditor General’s Auditing Standards.
collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.
We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
• We obtain an understanding of internal control relevant to the audit in order to design audit procedures that are
appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the
Responsibilities of the Board of Directors for the financial statements and the performance information
company’s internal control.
The Board of Directors is responsible on behalf of the company for preparing financial statements that are fairly
• We evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and
presented and that comply with generally accepted accounting practice in New Zealand. The Board of Directors is also
related disclosures made by the Board of Directors.
responsible for preparing the performance information for the company.
• We evaluate the appropriateness of the reported performance information within the company’s framework for
The Board of Directors is responsible for such internal control as it determines is necessary to enable it to prepare
reporting its performance.
financial statements and performance information that are free from material misstatement, whether due to fraud
or error. • We conclude on the appropriateness of the use of the going concern basis of accounting by the Board of Directors
and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions
In preparing the financial statements and the performance information, the Board of Directors is responsible on
that may cast significant doubt on the company’s ability to continue as a going concern. If we conclude that a
behalf of the company for assessing the company’s ability to continue as a going concern. The Board of Directors is
material uncertainty exists we are required to draw attention in our auditor’s report to the related disclosures in the
also responsible for disclosing, as applicable, matters related to going concern and using the going concern basis of
financial statements and the performance information or, if such disclosures are inadequate, to modify our opinion.
accounting, unless the Board of Directors intends to liquidate the company or to cease operations, or has no realistic
Our conclusions are based on the audit evidence obtained up to the date of our auditor’s report. However, future
alternative but to do so.
events or conditions may cause the company to cease to continue as a going concern.
The Board of Directors’ responsibilities arise from the Local Government Act 2002.
• We evaluate the overall presentation, structure and content of the financial statements and the performance
Responsibilities of the auditor for the audit of the financial statements and the performance information information, including the disclosures, and whether the financial statements and the performance information
represent the underlying transactions and events in a manner that achieves fair presentation.
Our objectives are to obtain reasonable assurance about whether the financial statements and the performance
information, as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s We communicate with the Board of Directors regarding, among other matters, the planned scope and timing of the audit
report that includes our opinion. and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.
Reasonable assurance is a high level of assurance, but is not a guarantee that an audit carried out in accordance with Our responsibilities arise from the Public Audit Act 2001.
the Auditor General’s Auditing Standards will always detect a material misstatement when it exists. Misstatements are
differences or omissions of amounts or disclosures, and can arise from fraud or error. Misstatements are considered
material if, individually or in the aggregate, they could reasonably be expected to influence the decisions of readers,
taken on the basis of these financial statements and the performance information.
We did not evaluate the security and controls over the electronic publication of the financial statements and the
performance information.
36 37You can also read
