Civic trust's audit costs ‘very, very sobering'
Oamaru Whitestone Civic Trust co-chairman Graeme Clark hoists the American flag for the East of Eden production shot in Oamaru in January. Photo: Brendon McMahon
A key driver for the Oamaru heritage tourism sector says "disproportionate" audit costs are a significance issue.
However, the Oamaru Whitestone Civic Trust has had "a good year", its chairman Richard Vinbroux says.
The trust has been instrumental in putting the town of Oamaru and its built heritage on the international tourist map in the past 30 years.
Mr Vinbroux said with the trust's annual meeting coming up on Tuesday it had much to celebrate.
In particular, its key starring role centred on the precinct in January for the Netflix television adaptation of the Californian-set novel East of Eden.
That production brought an unspecified financial boon and the trust was now in a "very positive" position, Mr Vinbroux said.
The trust was forecasting a $500,000 turnover for the year was expected to turn about a $100,000 profit, which would go back into securing the precinct's assets.
Mr Vinbroux said Netflix brought "a big contribution" to the trust and it was very timely.
"It would have been over half of our profit.
"It helped because we've got ever-rising compliance costs.
"The big buzz kill is we're now having an audit."
That cost alone for a community organisation was "very, very sobering", Mr Vinbroux said.
"It's disproportionate ... we have our annual audit which costs $9500 — plus accounting costs.
"We live in a world that tries to put corporate strategies on to every other aspect of life and it doesn't fit.
"It doesn't fit for charities and I don't think it fits for councils."
This was "on top of everything else".
Mr Vinbroux said there was still a gap between its aims and what the trust was there to achieve: to maintain and enhance its assets on behalf of the community.
The trust last November celebrated 35 years and owned 16 mercantile buildings dating from the 1860s to 1880s in the Harbour and Tyne street precinct.
That area is now regarded as the single most significant collection of buildings of its type in Australasia.
The area is now part of a bid via Heritage NZ to have the broader Oamaru historic town centre and its Victorian port recognised as a National Historic Landmark.
At present the only site with that status is the Waitangi Treaty grounds.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
NZ Herald
15 hours ago
- NZ Herald
Mahi with Māori: commercial development projects that succeeded, struggled or failed
They show situations where developers either worked with tangata whenua, or places where there was trouble. At the end, two experts offer commentary on what they see as guides for success and what must happen for projects to work. Precinct and Ngāti Whātua Ōrakei - Pumanawa Downtown West The twin tower development is guided by tīkanga Māori, the developers said when they released plans this year. Photo: Supplied / Precinct Properties NZX-listed Precinct Properties and Ngāti Whātua Ōrakei formed a partnership which could see the pair go sky high. Two towers, one a quarter of a kilometre high, are being planned in a multibillion-dollar exercise. Ngarimu Blair, Ngāti Whātua Ōrakei Trust board deputy chairman, says the two have a shared goal to create a great CBD in the city and region. Ngarimu Blair tells why the relationship works. Photo / Mike Scott 'Precinct, like us, are invested in the waterfront and the CBD,' Blair says. Luxury golf courses at Te Arai: Te Uri O Hau and Ngāti Manuhiri Developers John Darby and George Kerr did the initial work. Then American billionaire Ric Kayne built golf courses north of Auckland on land which tangata whenua owned. Ric Kayne - success with iwi. Photo / Michael Craig In 2012, Ric and Suzanne Kayne struck a deal with Te Uri o Hau. In 2002, the hapu got the land as part of a Treaty settlement and it has negotiated to sell 230ha of the forest to Kayne. In 2020, Kayne did a deal with Ngāti Manuhiri, who bought the Mangawhai south forest as part of their commercial redress under their Treaty of Waitangi settlement. The result has brought world praise for new golf courses there. Ihumātao: how not to do it After years of protest, Fletcher Building sold this Māngere site to the Crown for $29.9m five years ago. It ditched plans to build 480 homes on the land, once confiscated, becoming a lightning rod for protest, drawing the Soul (Save Our Unique Landscape) group led by the charismatic Pania Newton. Ihumātao activist Pania Newton. Photo / Jason Oxenham A memorandum of understanding (he pūmautanga) was signed by the Kiingitanga, the Crown and the Auckland Council, setting out how parties were to work together to decide the future of the land. A steering committee, or rōpu whakahaere, was established with three ahi kaa representatives supported by the Kiingitanga, one Kiingitanga representative and two Crown representatives. Plans to move ahead have stalled. Mataharehare, Parnell - no Erebus memorial Dove Myer Robinson Park became a site of protest by some in Ngāti Whātua Ōrākei when Manatū Taonga Ministry for Culture and Heritage wanted to build the Erebus memorial there. Protestors fought against this planned memorial in Parnell, since ditched. Photo / Dean Purcell But it was storms, not the protests, which resulted in that being ditched. Papatūānuku had spoken, some said. A large slip in the lower part of the park into Judges Bay caused by the 2023 Auckland Anniversary floods raised concerns about cantilevering the concrete and steel structure over the park. Putuki Bay - built but at great cost Tony Mair and Kitt Littlejohn completed and opened their 181-berth marina, despite weeks of stopwork and much protest. Trouble hit when protestors and security guards fought each other mid-winter on a slippery pontoon. Pūtiki Bay, Kennedy Point on Waiheke Island earlier this decade when protestors came out in force. Photo / Dean Purcell By July 2021, protesters had been occupying the site for more than 120 days, saying work endangers a nearby kororā (little blue penguin) colony, disputing the resource consent and saying they had mana whenua. Summerset with Ngāti Whātua at Bayswater This retirement village developer bought land on Auckland's North Shore which the hapū had bought under its 2013 treaty settlement. Summerset worked long and hard on the 5.7ha deal, said to have gone for $70m but that was never confirmed by either party. Ngāti Whātua Ōrākei received shares in Summerset and won education and employment opportunities at the planned village. Marutūāhu-Ockham Group A true collaboration between a prominent Auckland apartment development business, previously fronted by Mark Todd, and the collective of five iwi, Ngāti Maru, Ngāti Pāoa, Ngāti Tamaterā, Ngāti Whanaunga and Ngāti Rongoū. Back in 2021 at the opening Kokihi in Waterview: Paul Majurey, the now-ex Housing Minister Megan Woods and Mark Todd. Photo / Alex Burton This successful partnership is nearing completion on yet another apartment block: Toi on ex-Unitec land near the heritage Carrington Hospital. But work has certainly slowed now for the development business, which got a Crown guarantee on the new project. Douglas Links golf course near Levin Xero co-founder Hamish Edwards expressed frustration about development, even though he won consent for the golf course. Xero co-founder Hamish Edwards at Douglas Links, the golf course he is constructing at Ohau, near Levin. Photo / Mark Mitchell 'The process is so long, overly complicated and the involvement of iwi makes the decision to invest in these projects questionable. If I knew then what I know now, I would not have bothered to even start this investment,' he said. But he won't provide the document sent to Cabinet ministers Chris Bishop and David Seymour, saying what must change. The Douglas Links golf course under construction at Ohau, near Levin, in April. Photo / Mark Mitchell It was reported elsewhere that his company being called Grenadier upset some. Calling the course Douglas Links when the whenua already had a name for it was distressing too. It was the site of a pre-1900 pā, Tirotirowhetū. Engagement with tangata whenua was criticised by Ngāti Tukorehe Trust chairperson Tina Wilson as 'tokenistic', leaving a deep sense of sadness and anger. Media referred to activities being the 'act of the coloniser'. How to engage successfully Paul Majurey, a prominent Auckland lawyer, has been part of a number of longstanding commercial relationships: the Pouarua Farms partnership with Southern Pastures, Marutūāhu working with Ockham and Fletcher Living projects. Paul Majurey. Photo / Dean Purcell He also chairs Te Puia Tapapa, the iwi-led $115m investment fund which is a preferred co-investment partner of the NZ Super Fund. 'The key to these partnerships is mutual respect and taking a long-term approach. When Pakeha organisations have engaged with Marutūāhu in that way, it has been the basis for successful commercial partnerships.' Māori are long-term investors and looking for arrangements with entities which also reflect the te ao Māori world view, Majurey says. Investment periods of 15-20 years plus are sought. 'We like assets where we can own the asset for the long term, and prefer sectors like property, infrastructure, and the primary sector,' he says. Expert on rules of engagement Grey Lynn-based consultant Mike Dreaver describes himself as being 'comfortable in uncomfortable spaces'. Mike Dreaver is a consultant who works with iwi, the Crown and others. For 30 years, he has worked with iwi and hapū, the Crown and the private sector, involved in negotiating Treaty settlements, on governance and partnership arrangements for natural resources and many infrastructure projects. 'I've probably been involved in working on negotiating about 40 to 45 Treaty settlements, most for the Crown side but several on behalf of iwi.' He was involved in negotiating the Mahi Ngatahi Agreement with iwi of Auckland which gave them development rights for housing on Crown land - 'the trigger for the Marutūāhu-Ockham, Avent-Te Akitai, and Unitec arrangements'. Ihumātao - how not to do it. He has negotiated partnership arrangements between Waka Kotahi and iwi in north Taranaki, Manawatū/Tararua and Horowhenua and is now helping offshore-based wind developer Parkwind to build partnership arrangements with iwi in south Taranaki. Dreaver has assisted in building relationships between iwi and hapū and developers for projects on commercial land, golf courses and research institutes. He describes himself as a specialist in facilitation, negotiations and policy design development, 'committed to genuine change in the way we do things'. Asked to list some important lessons from his work, Dreaver provided what he sees as some of the principles or rules of effective engagement. Back in 2021: Protestors at Putiki Bay, Kennedy Point on Waiheke Island. Photo / Dean Purcell He emphasised this is only a starting point and there's so much more to relationships which form true partnerships. Dreaver's advice for developers working with Māori: Start early and invest time in developing genuine relationships. Understand your partner-representatives, role of those on the ground as well as those in the organisation and iwi/hapū dynamics. Appreciate and value what mātauranga Māori brings to your project – knowledge, experience, connections, relationships. Respect cultural intellectual property. Listen more than you talk. Recognise iwi and/or hapū have competing demands and you are not necessarily their top priority. Frame discussions around people, place and project. Recognise the commercial value of partnership or collaboration at value – land, opportunities, relationships, mātauranga and efficient processes. Don't promise what you can't deliver. Write things down. Record agreements and stick to them. Implement your commitment to the right relationship throughout your organisation. The first element stressed the need to begin at the project conception via building trust, he said. 'Doing this shows it's more than a tick-box exercise. Don't start when you prepare your resource consent application. Starting early allows you to build relationships over time and look at the range of different ways you can work together.' For Dreaver, there is no one model or off-the-shelf advice that would work. But for him, the need to emphasise people, place and project is a key to successful relationships. Anne Gibson has been the Herald's property editor for 25 years, written books and covered property extensively here and overseas.
NZ Herald
2 days ago
- NZ Herald
Businesses jump on cannabis drink craze as lawmakers try to crack down
At Lua in Des Moines, patrons consume Climbing Kites hemp drinks. Iowa last year enacted a law limiting the amount of THC in drink servings and cans. Photo / KC McGinnis, The Washington Post American states are rushing to ban or restrict sales of intoxicating cannabis drinks that have exploded in popularity in a market lacking many of the regulations imposed on marijuana. The drinks get their psychoactive properties from hemp, marijuana's less potent and less regulated cousin. They can be sold outside
1News
3 days ago
- 1News
Trump family unveils next venture – a mobile phone company
If Trump watches or sneakers or bibles aren't your thing, the family business just added another product to show your support for the US president: mobile phones. The Trump company announced today a new business, Trump Mobile, that will offer cell service in a licensing deal and sell gold phones by the summer. It's the latest in a string of new ventures struck despite mounting ethical concerns that the US president is profiting off his position and could distort public policy for personal gain. Eric Trump, the president's son running The Trump Organisation in his absence, suggested the pitch is patriotism, emphasising that the phones will be built in the US and the phone service will maintain a call centre in the country as well. The announcement follows several real estate deals for towers and resorts in the Middle East, including a golf development in Qatar announced in April. A $1.5 billion (NZ$2.4 billion) partnership to build golf courses, hotels and real estate projects in Vietnam was approved last month, though the deal was in the works before Trump was elected. Trump has already used the main regulatory agency that will oversee Trump Mobile in personal disputes. ADVERTISEMENT The Federal Communications Commission has launched investigations of media outlets Trump dislikes and, in some cases, is personally suing. And the president himself last month criticized cell phone maker Apple, now a big business rival, because it planned to make most of its US iPhones in India, threatening to slap a 25% tariff on the devices. Eric Trump said that consumers deserve a phone that aligns with their values. 'Hard-working Americans deserve a wireless service that's affordable, reflects their values, and delivers reliable quality they can count on,' he said in a statement. The Trump phone deal comes as a mandatory financial disclosure report just filed with the government shows the president has moved fast in the last year to profit off his celebrity, taking in $3 million (NZ$4.9 million) in revenue from selling 'Save America' coffee table books, $2.8 million (NZ$4.6 million) from Trump watches and $2.5 million (NZ$4.1 million) from Trump branded sneakers and fragrances. The Trump Organisation today said the new, gold-coloured phone available for $499 (NZ$823) in August, called the T1 Phone, won't be designed or made by Trump Mobile, but by another company. The Trump Organisation did not respond to repeated requests for more details on that and comment. The Trump Organisation's T1 Phone. (Source: Trump Organisation ) ADVERTISEMENT IDC analyst Francisco Jeronimo said the monthly fee of just under $50 (NZ$82.52) is pricey, the appeal beyond the most ardent MAGA loyalists doubtful and the business difficult given that cell phones break down. 'It's not like selling hats and t-shirts. I'm not sure they have that all sorted of," said Jeronimo, adding 'I'm not sure they are bringing great value to the American people." Donald Trump ventured into the telecommunication industry once before, giving speeches and promoting a multi-level marketing company called ACN that was eventually sued for fraud and misleading customers. In the first term, Trump was blasted by conservative and liberal government ethics experts alike for opening his Washington hotel to lobbyists and diplomats and violating his company's pledge to avoid even the appearance of a conflict between his private profit and the public interest. The company is feeling more emboldened now in the second term. The mobile service is partnering with existing cellular carriers with access to a 5G network, raising questions of how they will be treated by federal regulators now that they have partnered with his company. The Trump Organisation said those companies are America's three biggest mobile network providers, an apparent reference to Verizon, AT&T and T-Mobile, the latter with a trademarked name that is very similar to Trump's T1 Mobile. The name given to the monthly service offer, The 47 Plan, and the monthly $47.45 (NZ$78.31) monthly fee make reference to Trump's two terms, the 45th and the 47th. The service will include unlimited calls, texts and data and free roadside assistance and telehealth services. ADVERTISEMENT A mock-up of the planned phone on the company's website shows Trump's slogan 'Make America Great' on the front and an etched American flag on the back. By sticking to licensing, the Trump family is limiting its risk. Still, the new service faces big challenges if it hopes to sell beyond the president's loyal MAGA fans. The Trump company tried to tap into support among the middle class in the first term with two mid-priced hotel chains. Called American Idea and Scion, and unveiled like the phone service today under a giant US flag in the Trump Tower atrium, they flopped. Despite taking in millions of dollars each year in various licensing deals and a string of new ventures, the Trump brand has taken a series of hits to its brand over the years. During his first term, the Trump name was stripped off residential buildings and hotels in Toronto, Panama and Manhattan. The Trump International Hotel in Washington, since sold, lost money even though the family opened its doors to businesses and governments trying to shape US policy. The average condo in 11 Trump-branded residential towers around the country underperformed the broader market during and immediately after Trump's first term. More recently, the value of Trump condos in New York City fell in the past two years as similar properties rise in value, according to brokerage CityRealty. ADVERTISEMENT The Trump Organisation has had more success with some ventures launched in the first few months of his second term. Trump Media & Technology Group, a Florida company that operates the Truth Social media platform, filed plans with security regulators today to launch an exchange-traded fund tied to the prices of two popular cryptocurrencies. The ETF is part of the Trump family's rapidly growing crypto empire, which includes a new stablecoin and launching and promoting memecoins. The president's most recent financial disclosure report reveals he made more than $57 million (NZ$94 million) last year from World Liberty Financial, a crypto company he and his sons helped launch in September.
