Official Information Request - 13 September 2017

Attachment:

Terax Limited Partnership 2017 - Statement of Intent

Response:

Sent: Tuesday, 3 October 2017 2:12 p.m.

Subject: TRIM: Terax LGOIMA

I refer to your email of 13 September regarding TERAX CCO and provide the following information, as per your email requests:

1. Can I please have a copy of the latest SOI for the Terax CCO?

See attached file: Terax Limited Partnership 2017 - Statement of Intent

2. Was the most recent meeting of the Audit and Risk Committee advised that the Terax CCO should be closed down with an $8.5 million write off?

There was no advice provided to the committee that the Terax CCO would be closed down with an $8.5m write off.

3. If not, what exactly was the A&R Committee advised?

The Committee was provided with an update on the compilation of the Annual Report. Part of preparing the Annual Report includes a fair value assessment of Council's investment in the Terax Intellectual Property, and the preliminary design costs for a plant at the Wastewater Treatment Plant. The assessment is with Audit NZ awaiting sign off as part of the Annual Report audit and will likely result in an $8m impairment for Council.

4. Can I please have a copy of the full presentation made to the A&R Committee related to the Terax CCO?There was no presentation made to the committee regarding the Terax CCO.

We are obliged to advise that you may contact the Ombudsman at the address below if you have any concerns with the response provided by Council, by writing to:

The Office of the Ombudsman

PO Box 10 152

WELLINGTON 6143

Alternatively, you may email info@ombudsman.parliament.nz or use the online complaints form available at www.ombudsman.parliament.nz/make-a-complaint.

Regards