Annual 2021/2022PūrongoReportā-Tau
REPORTANNUALRANGINGĀTI 2021/2022Ā-TAUPŪRONGO RĀRANGIContents ŪPOKO TE OURPAERANGI:VISION,MISSION AND VALUES CHAIRPERSON’S REPORT POU ĀRAHI REPORT Te Ao Tūroa Ngāti RuapehuHauoratangaRangitangaWhānau Transformation Plan TE KŪMETE O TeFINANCIALRUAPEHUCHAIRPERSON’SPAERANGIREPORTWORXLTDSTATEMENTSTōtarahoeoPaerangiTrust Group Consolidated Financial Statements 4 6 3024201410 34 38 40
Ka tangi arorangi atu rā ko te whatumanawa ki te rangi Ka maioha atu rā ki ngā aituā kua tau atu rā ki te kūteretere ki te kaununui tangata Ka rongo atu rā i ngā pou o te whenua. E te kāhui ora, te kāhui mataora, e mihi nei Kua tākiri mai te tauhou kua tākiri hoki ko tēnei pūrongo a-tau ki kautau ko ngā uri e whaia nei te arā ki te TiheimaungaroaMouriora
TE VISION,PAERANGI:MISSION AND VALUES Te Ourwawata:vision Kia mura ai te ora o Ngāti Rangi i tua o te 1,000 tau. Ngāti Rangi continues to vibrantly exist in 1,000 years. Te Ouraronga:mission E kōkiri tahi ana a Ngāti Rangi i ngā kaupapa hei oranga mō te katoa. Together Ngāti Rangi will grow itself and its communities. Te Ourtake:5-year plan Kākā te whare toka o Paerangi, kākā hoki ko au. Igniting our people to live vibrantly in our majestic landscape. OUR SHARED VALUES Kia MANA ai ngā mahi To act INTEGRITYwithandHONESTY Kia mau ai ki WHOLE-HEARTEDLYMANAAKITANGAteToCARE Kia tika ai TŪRANGAWAEWAEtōuTobeACCOUNTABLE Kia ū ai ki DUTYTIKANGAngāTobeBOUND Kia rapu ai i te MEA NGARO To POTENTIALunleashREPORTANNUALRANGINGĀTI 2021/2022Ā-TAUPŪRONGO
Chairperson’s report
Matapōrehutia ngā tini mate o te wā Waiho mai te tewe muri nei Hei hopo mō kautau. Moe mai rā i te korōriatanga o Ihoa o Ngā Mano Okioki mai rā. Kei ngā paepae o Te Kāhui o Paerangi Tēnei te whakamānawa atu, tēnei mihi kau atu. Nau hoki mai, tēnā haere mai Ki tō tātau Hui-ā-Tāu o Ngāti Rangi. E te iwi, kia ora.
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Te Tōtarahoe o Paerangi
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The government COVID-19 lockdowns placed increased pressure on our rural communities and marae last year but were a necessary means to keep us safe. COVID-19 limited our ability to host hui, tangihanga, wānanga and karakia in person which meant as an iwi and a country we were forced to take key activities on-line. We were consistent in our messaging across various media platforms that any would-be inter-regional travellers were not welcome if they wanted to escape to their holiday homes from highly populated COVID-19 positive towns. Protecting our whakapapa was the ultimate aim. Ironically keeping non-locals away was also heavily supported by our community. We established a Te Kāhui o Paerangi COVID-19 sub-committee in response to the imminent arrival of COVID-19 into our communities. We then commissioned a Marae rapid response survey and report from there we were able to quickly establish the capacity needs of marae but also establish which marae could host Hui (ora and mate) once the government’s traffic light settings permitted. We are also proud to see the many marae development infrastructure projects that are starting to take shape. Some are more advanced than others but by the end of the calendar year we look forward to seeing them all completed.
‘Protecting our whakapapa’ is probably the key theme that led out our efforts around COVID-19.”
The Board held a wānanga in July 2021 with key tribal members that were instrumental in leading and informing key parts of our settlement and other key kaupapa important to the iwi. We were indulged by the collective knowledge, kōrero and energy from our panelists which included Uncle Keith Wood, Aunty Biddy Mareikura, Uncle Bobby Gray, Che Wilson and
‘Protecting our whakapapa’ is probably the key theme that led out our efforts around COVID-19.
The organisation has been under increased pressure, due mainly to the impacts of COVID-19, to carry on with business as usual and meet its annual plan targets. Our Hauora team, in particular, had to abandon their workplans for a number of months to back-up
Te Ranga Tupua Te Ranga Tupua was incredibly active over the past year, particularly prior to Christmas in 2021. Iwi leaders gathered to collectivise our efforts to lead out a progressive COVID-19 vaccination programme. We met with Minister Henare to lay out a plan to achieve higher vaccination rates and funding support followed. This is yet another demonstration of the power of size and scale that can be achieved through Te Ranga Tupua. In future, we hope collaboration on more collective outcomes can be achieved together.
Government Reforms A multitude of government reforms are upon us. We have had to be very strategic in our participation in the various forums with government agencies. The key thing to not lose sight of is ensuring we hold the Crown accountable to what had been guaranteed in our settlement – Rukutia Te Mana. We have actively voiced our views across various reforms to date and continue to manage the operational relationship with key government agencies.
Kemp Dryden. Having access to the foundational kōrero that lead to the rationale behind many iwi strategies and approaches was pivotal to enable our Board to shape our work priorities and programme for the year. These types of wānanga with individual panelists we intended to carry on throughout the year. Sadly with the loss of Aunty Biddy and Uncle Bobby in 2022 the key messages shared over time will now be etched into our collective memories.
Our association with the National Iwi Chairs Forum (NICF) has been a valuable resource to leverage, where required, a collective voice in response to the issues of national significance that impact Māori. Through NICF other more established post-treaty settlement entities have a greater resource pool to draw on the technical support and hone in on treaty issues or potential breaches.
Rukutia Te Mana Implementation COVID-19 may have disrupted our ability to hold Board Hui and wānanga throughout the year but it provided us with a real opportunity to put in place the necessary building blocks to activate levers in our settlement. In particular, Te Pae Ao and Te Mana Paenga have started to take shape and we have commenced proactive Board discussions around Te Kōpae. We look forward to sharing some of that progress in the coming year.
Ngā Waihua o Paerangi
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REPORTANNUALRANGINGĀTI 2021/2022Ā-TAUPŪRONGO 9 COVID-19 efforts. This was a huge undertaking and I want to thank all of the kaimahi for their undying commitment to that kaupapa. In addition, the breathing space created during lockdown allowed the Board the opportunity to reflect on what was most important and determine the key priorities. The kaimahi have done an amazing job to make good progress across the departments in spite of all of the disruption. Whetu Moataane TeChairpersonKāhuioPaerangi, Te Tōtarahoe o Paerangi and Ngā Waihua o Paerangi NGĀ MANGA O HAUTAPU (Hautapu Paepae) Kuratahi Marae Kāinga Hemi Gray Raketapauma Marae Wiripo RochelleWaretini,Gibbs Te Ao Hou Marae Geoffrey Hipango, Keria Ponga TE WERA O WHANGAEHU (Whangaehu Paepae) Tirorangi Pā Goldie DeborahAkapita,TeRiaki Ngā Mōkai Papa Kāinga Rangimarie Hall Tirohia Kāinga Nerissa Te Patu NGĀ IA O MANGAWHERO (Mangawhero Paepae) Maungārongo Marae Korty TomairangiWilson,Mareikura Mangamingi Pā Daphne Mareikura Tuhi Ariki Pā Troy Brown Fred Clark NGĀ WAI O TE WAIMARINO (Waimarino Paepae) Raetihi Marae Whetu Moataane, Honey Winter Marangai Marae Soraya AlexandraPeke-Mason,Waretini Mō Te Katoa Marae Linda WhetuGoodgame,Manihera Waitahupārae Marae Lesley BrendonEdmondsMorgan TE PAE TUARĀ Rangituhia Jean Wilson Rangiteauria Dana Blackburn Uenukumanawawiri Olive Hawira OUR CURRENT TE KĀHUI O PAERANGI REPRESENTATIVES ARE: Group Structure
Pūtongatonga te ao Pūwatawata te ao
Kua whatungarongaro te tirohanga Ma wai au hei tohu Ma wai au hei hua Ka tangi wheoro te hau waho Te Maunga e tu nei Te Awa Tupua e rere nei Ki waho moana ki te akau Pūtongatonga te ao Pūwatawata te ao
10 Pou Ārahi report REPORTANNUALRANGINGĀTI 2021/2022Ā-TAUPŪRONGO
Facing COVID-19 head-on
If we thought COVID-19 had a short shelf-life we were sadly mistaken. As the social, economic and emotional impacts reverberated across the motu the resilience of our isolated rural communities were once again put to the test. Our collective iwi leadership throughout Te Ranga Tupua mobilised at haste to lobby the Government for direct resourcing. This allowed our iwi health service providers the opportunity to reach into their communities and facilitate an outcome where government agencies would typically fall short. As a tribe, we took the courageous stance to address the social inequities through a progressive vaccination and community welfare programme. At a time when only 65% of the eligible population in the Ruapehu region had received their first COVID-19 vaccination 92% of our community are fully vaccinated over the age of 12years old today. Over 800 kai packs and 500 hygiene packs were deployed to whānau as a consequence of COVID-19. This service is still ongoing.
With that in mind there are many highlights and updates articulated in this annual report that need celebrating by each department and each entity that we should be extremely proud of.
Kupu Whakataki
“As a tribe, we took the courageous stance to address the social inequities through a progressive vaccination and community welfare programme.”
This year has been consumed by challenging demands, business disruption, collective iwi responsiveness but more importantly sorrow. To not acknowledge that upfront would only mask the reality that Ngāti Rangi suffered huge loss and that it is ok to lament. But, as our old people would calmly and charismatically remind us ‘me haere tonu ngā mahi’.
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It’sAuthority.important
to note also that COVID-19 does not take a holiday and neither did some of our kaimahi. I would like to thank those kaimahi that worked unselfishly over the Christmas holiday period sacrificing time away from your own families to be first responders to support our community in need.
This time last year we reported joining forces with Ngāti Rangi Community Health Centre. A year into that journey our health service has almost doubled in size and complexity. At the heart of driving this growth has been the fervent belief that if we don’t stand up and provide the health services our community requires, who else will. This is very timely given the impending health reforms and the establishment of a Māori Health
Te Ara Mangawhero Trails Ohakune and the surrounding townships are set to become a destination hotspot for year round tourism. Walking and cycle trails will create the next wave of economic growth for the rohe and Ngāti Rangi will be front and centre of that opportunity.
Ngāti Rangi played a key advocacy role that prompted a change to the Tongariro National Park Plan to allow the construction of trails within public conservation lands surrounding Koro. Subsequent to the plan change it was agreed in 2015 that iwi would design, build, own and manage the trail.
Hauoratanga Service – one year on since coming together
In 2020, the Government released regional growth funding to support ‘shovel ready’ projects to stimulate local employment opportunities. Te Ara Mangawhero proposal was submitted to central government by Ruapehu District Council (RDC) and funding was conditionally approved. The proposal submitted differed to the original and included other trail sections to Erua and the National Park.
An agreement was reached between Ngāti Rangi and RDC on 24th March 2022 that Te Ara Mangwhero would remain consistent with the original intent. This has been a turning point in the relationship for both parties and we look forward to more positive outcome focussed opportunities moving forward. Once the concession application, works approvals and resource consents have all run their course Ruapehu WorX will commence construction in October/November 2022 and Ngā Waihua o Paerangi will become the head
Thisconcessionaire.positionsthe iwi as a decision-maker. It aligns to Te Kahui o Paerangi’s key principle to exert our mana
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Te Ara Mangawhero (walking and cycle trails) has been a talking point in our community for over a decade.
& safety requirements, contract monitoring, business reporting and information technology (IT) capability have all been under review this year to adapt to our growing needs.
Kupu Whakaotinga As I reflect on Rukutia Te Mana and our 1000 year aspiration to live vibrantly in this majestic landscape I liken it to a visual 1000 piece puzzle. Each contribution made today is an important puzzle piece to achieving the long-term picture overall. When we find ourselves in search of answers to guide our future endeavours we need not look any further than the comforting words of our Kuia Raana. “Ko ngā kura hunahuna e kimi tonu nei tatau te tangata i erā mea kei te huna. Ka whakapuare mai te wā ka reri koe, ki te whakaaro ki erā mea”. Simply translated, there is a time and a place for all things to transpire.
In closing, I would like to thank Ngāti Rangi for allowing me the opportunity to be home and reconnect with Koro, our people and the whenua. To say it has been an honour to embrace the notion of servitude as Pou Ārahi is an understatement. I am equally proud just to be as an uri of Paerangi-i-te-Wharetoka. To the Board and incredible kaimahi that go beyond the call of duty I thank you for your undying committment to our organisational values.
REPORTANNUALRANGINGĀTI 2021/2022Ā-TAUPŪRONGO 13 motuhake. The trustees need to be commended for their uncompromising and unwavering leadership to uphold the mana of the iwi and the relentless committment of a small project team who made sure that Te Ara Ki Te Moungaroa was the end game despite the many curveballs experienced along the way. Working safer, smarter and sensibly Working from home became a necessity during lockdown. It tested our wherewithal to work remotely and in isolation of one another. It also allowed the opportunity to address areas for continuous improvement. The Ngāti Rangi Group embarked on an internal project ‘Te Manu Whaiwhakāro’ based on the whakatauki ‘Ko te manu e whaiwhakāro – nōna a OurRangiātea’.health
Hoani Ponga Pou Ārahi - Chief Executive
Te Ao Tūroa and Ngāti Rangitanga REPORTANNUALRANGINGĀTI 2021/2022Ā-TAUPŪRONGO
Introduction
REPORTANNUALRANGINGĀTI 2021/2022Ā-TAUPŪRONGO 15 Mai i te urunga o Ngai Tāua te iwi Māori ki roto i ngā kāwai mātauranga ō Tauiwi, ina, honotia te peka Māori ki te rākau rāwaho, he rerekē tōna hua me te rongo ō tōna kiko, he kawa. Kāti, tēnei te whakahoki ki ngā paiaka ā kui mā, ā koro Letmā.us
We are reminded by the words of our uncle Tahu who set the tone for this year’s annual report of the Ngāti Rangitanga and te ao Tūroa Pou. In a post settlement framework it is easy to get caught up in the western ways of defining how we should do things. Uncle Tahu reminds us to use the contemporary tools to help us but to retain the rootstocks of our ancestors’ teachings to guide us into the future for the betterment of our Taiao and us as a people.
“Uncle Tahu reminds us to use the contemporary tools to help us but to retain the rootstocks of our ancestors’ teachings to guide us into the future for the betterment of our Taiao and us as a people.”
return to our origins. Since the time we as Māori were immersed in the knowledge streams of Tauiwi we have become like a branch, grafted to a foreign tree, producing fruit of a different quality and somewhat unpalatable. It is time we returned to the rootstock of our ancestors. Rangitihi Tahuparae
The team started the financial year as two separate working groups – the Ngāti Rangitanga Pou (managed by Sheena Maru) and te ao Tūroa Pou (managed by Jacob Robinson). After the departure of Jacob Robinson, Sheena Maru stepped into the role as interim manager for the two teams.
RANGINGĀTIANNUALREPORT 2021/2022Ā-TAUPŪRONGO
An important piece of mahi was the review of parts of the Ngāti Rangi Genesis Relationship and in particular monitoring and research work. Since reaching an agreement, the te ao Tūroa team has been monitoring the various waterways and surrounding environment establishing a benchmark for the current health and wellbeing of the awa. Today it is even more important that the relationship group can use that information to determine next steps about a connected flow. Equally important has been the ability to provide for uri so that they can build a relationship with their waterways. This work has resulted in the Te Wai Aroaro Wānanga led by Pou Kōrero Keith Wood. Uri have had opportunity to reconnect with the waterways such as the Wāhianoa, the Makahikatoa, the Tokiāhuru and the Tomowai to better understand the effects of the Tongariro Power Scheme (TPS).
With the change in leadership this brought forward the opportunity to adjust the configuration of the two teams who had already naturally started working together. During the year the Ngāti Rangitanga and te ao Tūroa teams amalgamated and it was a fabulous space to look at the organisation’s current priorities and ensure emphasis could be given to key kaupapa and recruitment for new team members began.
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Te Ao Tūroa (Our environment)
The wānanga reflects on the history of the diversions and how the TPS has affected the mouri of the water and its people. Ngāti Rangi remain committed to protecting these taonga.
In October 2021 after a robust recruitment process for the Pou Whirinaki (the new Manager for both Ngāti Rangitanga and te ao Tūroa), the organisation appointed Deana Wilson to the role. Her first engagement with the Taiao started in our Genesis relationship space. Stakeholder relationships have continued to strengthen with Genesis, Winstone Pulp International, Horizons, Ruapehu District Council, the Department of Conservation (DOC) and the Ministry of Education. All other partners continue to engage with us on a smaller scale and the potential of refreshed or new relationships in relation to our settlement are being explored.
Te Wai Aroaro Wānanga was a beautiful few days together, feeling the mouri of our Maunga, our awa, and our whenua. What a great way to start mahi in te ao Tūroa team and always grateful for the wisdom that is shared both from wairua and kikokiko.
Ngā Pou Taiao forum reviewed its Terms of Reference to further define representation in each of the Paepae and that resource be provided for specialist expertise in our rohe to advise the team when and where needed. The voice of the people at place is key to ensuring the team is addressing the needs of each paepae.
The Ngāti Rangi environmental forum continues to support the team to ensure there is a strong connection between te ao Tūroa and the people for whom share that space. There have been a number of important take for the environmental forum to advise on and provide guidance.
The resource consent application process often seeks support from Ngā Pou Taiao. Some of the key consents in our rohe this year have been to do with reducing the waste discharge into the Whangaehu river by Winstone Pulp International. The pulp mill has proposed to discharge their waste on to a landbased vermicasting system called MyNoke adjacent to the Karioi forest. This process will rejuvenate the soils in the Murimotu block and create opportunity for employment and new Thelearning.Ruapehu
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What a great way to start mahi in te ao Tūroa team and always grateful for the wisdom that is shared both from wairua and kikokiko.
Ngā Pou Taiao
District Council’s Wastewater Treatment Plant and fresh water upgrade have been an ongoing project, which is underway. This will ensure that the existing infrastructure is able to cope with the current capacity at the moment and the future developments in our rohe.
Te Wai Aroaro Wānanga was a beautiful few days together, feeling the mouri of our Maunga, our awa, and our whenua.
Taiao Management Plan
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The Ngāti Rangi Taiao Management Plan is an important document that provides the basis to which Ngāti Rangi views the world. The plan contains information relating to our specific values, landscapes and how we wish to add value and protect each taonga. It provides for others to better understand how we wish to engage around matters such as regional and local planning and other matters that can influence the outcomes for our environment.
First developed in 2014, the Trust has been undergoing an exercise with the support of Kahu Environmental to review the document in conjunction with Ngā Pou Taiao, the iwi environmental advisory Ingroup.February 2021, the Government announced it would be repealing the Resource Management Act 1991 and enacting new legislation based on the recommendations of the Resource Management Review Panel. The three new pieces of legislation proposed by the Government are:
In September 2021, Ngāti Rangi made and spoke to its submission on the Natural and Built Environments Bill to the Environment Select Committee. The submission addressed Ngāti Rangi and our role in protecting and promoting te ao Tūroa – the natural world, including through Te Waiū-o-te-Ika, the legal framework for the Whangaehu River catchment. We also provided some initial comments on the Natural and Built Environments Bill and its development. Aspects of our submission were reflected in the Environment Select Committee’s report on the Bill.
• Natural and Built Environments Act, as the main replacement for the RMA, to protect and restore the environment while better enabling development
The local authorities (Ruapehu District Council and Horizons Regional Council) and resource consent or concession applicants use the Taiao Management Plan as a starting basis for their engagement with Ngāti Rangi. More recently the Trust has been working with the Regional Council to be more focused on a relational way of working rather than a traditional transactional way that has never served our environment well. This will mean that our people at place will be enabled to be a part of the conversation once capacity is built within ourselves to ensure our own expertise and knowledge is given regard to when making decisions.
• Climate Adaptation Act, to address complex issues associated with managed retreat. These proposed changes have seen the team begin to review the Ngāti Rangi Taiao Management Plan to reflect and incorporate Te Mana o te Wai, Rukutia te Mana, and the proposed changes to the Resource Management Act. This work is still in progress to ensure the plan continues to reflect our Taiao vision at the same time drawing on the decisions the Government may make.
• Spatial Planning Act, requiring the development of long-term regional spatial strategies to help coordinate and integrate decisions made under relevant legislation; and
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We spent a fair amount of time this year introducing new DOC personnel to Rukutia Te Mana and our vision for the future, including Te Mana Paenga and Te Pae Ao. We have now reached a point with DOC where we will each begin the process of appointing representatives on to Te Pae Ao to co-manage the reserves and develop a shared plan for these spaces. Over the next 12 months, this initial engagement will begin to bear fruit as this kōrero will be brought out to the people for wānanga and discussion, as those appointed to Te Pae Ao develop a fresh vision and plan. Part of our planning for the future is the vision of the Ngāti Rangitanga team to upskill uri to manage, in collaboration with the Ruapehu WorX team, all weed control, pest control tenders in future for complete Taiao Management and kaitiakitanga on the ground. The the Trust has been working with the Regional Council to be more focused on a relational way of working rather than a traditional transactional way that has never served our environment well.”
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Te Pae Ao will be the administering body of the following sites: Kiokio Conservation Area Mangaehuehu Scenic Reserve Mangateitei Road Conservation Area Ngā Roto-o-Rangataua Scenic Reserve (part not vested) Raketapauma Conservation Area Raketapauma Scenic Reserve Rangataua Conservation Area (including part of the Rotokura Ecological Area) Rangataua No.2 Conservation Area Rangataua Scenic Reserve, and Beds of Rotokura Lakes.
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Since that time, the Government has been doing further work on the Natural and Built Environments Bill in light of the Environment Select Committee’s report. We are focused on holding the line and reminding the Crown that should the Government wish to aim towards this transformational reform space then it must give effect to Te Tiriti o Waitangi, through the acknowledgement and recognition of mana motuhake of iwi and hapū, as we continue to ensure Te Waiū-o-te-Ika is upheld by the Bill. He wai-ariki-rangi, he wai-ariki-nuku, tuku iho, tuku iho An interconnected whole; a river revered and valued from generation down to generation Hapū, iwi, and all communities are united in the best interests of the indivisible river as a gift to the future prosperity of our mokopuna.
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COVID-19 has had an impact on our ability to bring together our people and whanaunga iwi for wānanga in relation to the establishment processes for Te Waiūo-te-Ika, but we look forward to progressing this mahi again in the coming months.
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Te Mana Paenga / Te Pae Ao Te Mana Paenga is part of our partnership framework with the Department of Conservation (DOC) through Rukutia Te Mana and it sets out how we will work together in relation to Tūroa in our rohe. Rukutia Te Mana also provides for the establishment of a joint committee to be known as Te Pae Ao, made up of two members appointed by Te Tōtarahoe and DOC.
The team’s work will continue to focus on actively promoting a healthy environment that strengthens cultural identity and whanaungatanga, through
In conjunction with Ngāti Ūenuku, and Te Korowai o te Awaiti we have forged a relationship agreement with Waka Kotahi on the Auraki stream development on State Highway 4 (the Parapara). We have agreed to work on the Governance board for this kaupapa making joint decisions on the project and providing cultural and technical expertise and expertise in defishing and tree felling from each of the iwi partners. It is a positive relationship that has seen a constructive way forward for all parties while maintaining the cultural aspects of the Taiao. Ngāti Rangitanga (Our culture)
Auraki Stream partnership
With the new variant of Omicron entering our rohe and the second lockdown period, the iwi was once again challenged by the limited opportunity for face to face activites. Hui had to be conducted via Teams and Zoom to ensure continuity. Marae closures meant that wānanga could not be held and with some marae going through renovations this also limited our team’s ability to bring uri together for important gatherings.
Wānanga Preparation for wānanga has been an ongoing undertaking, given Covid in our community. Our Pāhake and Marae representatives have been instrumental in ensuring that our safety as an Iwi has been paramount. For that reason, the team took great care when designing wānanga. They were however able to support Rangatakapū to formulate their first hui at Tirorangi Marae which was about designing how they can support one another. Other hui and wānanga around the rohe continued to create space for uri at home to use the time for their learning and helped develop the key steps to both online and in person wānanga. As we enter into the 2022 – 2023 year these types of hui will be the way forward especially when working towards the goals and strategic priorities within Te Ara ki te Moungaroa and Rukutia Te Mana.
RANGINGĀTIANNUALREPORT 2021/2022Ā-TAUPŪRONGO 20 goal continues to assist existing and new team members to strengthen their Cultural Environmental Monitoring knowledge, which is building our capacity to provide cultural safety and awareness.
REPORTANNUALRANGINGĀTI 2021/2022Ā-TAUPŪRONGO 21 kōrero and will be published in September 2022. Supporting Māori learners and Whānau Post COVID-19 - Whānau Engagement
This project has been a collaboration of the Ministry of Education, Ngā Waihua o Paerangi, whānau and learners. It has involved defining what education looks like in our rohe and how the Ministry can support the return of whānau to the education space. The project will look at us developing our own Education strategy and will look at the implementation of the strategy to increase engagement of whānau and learners in the newly defined educational pathway going forward. We are in its infancy in terms of development and the office will continue to consult with whānau in a number of different forums. Deana Wilson Pou NgātiWhirinakiRangitanga / Te Ao Tūroa Manager
deepening our knowledge and connection to our maunga, wai and whenua through our history, tikanga and kawa; celebrating who we are as Ngāti Rangi. Puanga Wānanga
An example of intergenerational transmission of knowledge occurred at the annual Puanga event held at Maungarongo marae. Shiro Brown facilitated the wānanga while also being assisted by his son Te Kaha O Te Ora. This shows how active succession planning plays an important part of ensuring our mātauranga continues to carry on through the generations. The wānanga was attended by uri from Christchurch in the South Island to as far north as Whāngarei. Uri from the East Coast and Taranaki also attended. The maunga karakia continued to be a time to reflect on the year and remember those of our loved ones who had passed on. This time also brings an opportunity for our local community to come and share in the maunga karakia proceedings.
Toikuranui Educational Resources
The team have been developing resources for four curriculum levels in partnership with the Ministry of Education. These resources share some of our historic
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24 (OurHauoratangawellbeing) REPORTANNUALRANGINGĀTI 2021/2022Ā-TAUPŪRONGO
As Pou Hauora I am extremely proud of my team that has worked assiduously throughout the past 12 months. The teams focus and effort has been dominated by community responsiveness as a result COVID-19.
Since merging hauora services to form the Ngā Waihua o Paerangi Hauoratanga Team just over 12 months ago there has been a significant amount of mahi achieved, heavily influenced by the arrival of positive COVID-19 cases to the Ruapehu region towards the end of last COVID-19year.
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Here is a snapshot of what’s been happening over the past 12 months in our team.
“The word COVID-19 will feature extensively throughout my report given the past year was completely dominated by its impacts. Nevertheless, our team never let it define us.”
certainly placed our team and service at the coalface of the action during very trying circumstances and challenges. As a result, it forced a new way of working to ensure that we delivered the support our community needed throughout that intense period.
The word COVID-19 will feature extensively throughout my report given the past year was completely dominated by its impacts. Nevertheless, our team never let it define us.
Business continuity plans were put into action to separate the entire team into three micro-groups with very limited contact with each other. Kaimahi were dedicated to working throughout lockdown where community interface occurred mostly contactless. This would allow us to deliver COVID-19 welfare services to our community but also ensure that our kaimahi were kept safe. If kaimahi themselves contracted COVID-19 and that team was impacted, as was the case, another team could stand-up quickly and carry-on. The impact of COVID-19 on our community continues to be supported by our Hauoratanga kaimahi. The longterm medical and social effects caused by COVID-19 have changed the way we can work with whānau. Programme based and group events had to be postponed throughout the first part of the year but most restarted again after March 2022.
Our funding agreement with the Whānau Ora Commissioning Agency continues to allow our team the resource to provide wrap around support to whānau. Adopting the Whānau Ora philosophy within our service allows our team to assess priority needs to make clear decisions and deploy resources. This support significantly increased with the arrival of positive COVID-19 case numbers to the Waimarino region. As the country went into lockdown our entire team continued to work to support whānau in need throughout this time. Throughout lockdown and moving into COVID-19 Level 2 restrictions kaimahi were able to deliver over 800 kai packs, over 500 hygiene packs (1 per whānau) and approximately 80+ loads of firewood. Whānau Direct continues to be a resource our kaimahi can utilise with supporting our whānau who are actively engaging in our services. This resource supports kaimahi to remove barriers that may be preventing whānau from living healthy lifestyles and/or achieving goals and aspirations. This resource was valuable throughout COVID-19 supporting whānau with firewood and where income was impacted by not being able to work due to illness. COVID-19 Rapid Response Team This team was assembled rapidly immediately after the funding announcement that Te Ranga Tupua would lead a progressive vaccination programme amongst our collective communities. Our team were in place prior to Christmas and worked tirelessly over 15 weeks through to March 2021. The team consisted of 3 Nurses, 1 Admin and 1 Kaiārahi. They worked as a mobile clinic setting up, in some cases, in remote locations across the region to provide vaccinations and COVID-19 education to whānau. They also used this opportunity to check in with some of our vulnerable whānau over the christmas holiday period for kaimahi that were on leave. In October 2021 the Ruapehu district had the 2nd to lowest vaccination rate in the country. Less than 65% of the eligible population had received their first COVID-19 vaccination. As of 31 March, we achieved 92% of our community fully vaccinated over the age of 12years old. This contract ended in April 2022 but has been extended to a similar contract from WDHB that enables us to give other types of vaccinations including COVID-19.
RANGINGĀTIANNUALREPORT 2021/2022Ā-TAUPŪRONGO 26 Whānau Ora
REPORTANNUALRANGINGĀTI 2021/2022Ā-TAUPŪRONGO 27 Kai Packs Hygiene Packs Firewood 800 500 80+ DURING LOCKDOWN & LEVEL 2 RESTRICTIONS WE DELIVERED
Well Child Tamariki Ora (WCTO) Tamariki Ora caseload numbers have been steady throughout the year with the majority of cases being Māori whānau. The Whanganui District Health Board (WDHB) provided additional resource to allow visits for us to support our whānau. Katherine has absorbed this additional mahi supporting Tina and promoting WCTO services to whānau with new babies. During the COVID-19 lockdown our WCTO kaimahi in collaboration with our COVID-19 Rapid Response Team visited whānau and undertook needs assessments of whānau and pēpi.
Our senior nurse has become a provisional vaccinator and completed the IMAC Vaccinator Foundation Bridging course. Once she completes her Clinical Vaccinator assessment, she will be fully qualified as a vaccinator, enabling her to administer Immunisation clinics within our rohe.
Our nurse was seconded to the COVID-19 Rapid Response Team for 8-weeks over the Christmas and New Year period to help with vaccinations. Working in collaboration with Te Puke Karanga Hauora kaimahi and Ruapehu Health Limited to complete, Flu vaccinations, Covid vaccinations, Wellness and Tamariki Checks.
RANGINGĀTIANNUALREPORT 2021/2022Ā-TAUPŪRONGO 28 Kainga Ora
Programmes
Our Ngā Tini Whetu funding has been a huge part of our Whānau Ora kaupapa this year with helping a small group of whānau that were ready to excel their whānau
Ourplans.Boxfit Ruahit Programme created an amazing opportunity for our rangatahi to achieve hauora goals with boxfit training in a safe and supervised environment. This programme, supported by our kaimahi and volunteers Maxine & Alex Hakaraia has rangatahi training towards their first boxing Tuiatournaments.teTuakiritanga is a programme working alongside 10 māmā to give them the tools to support them with setting up their own home-based businesses. Our programme facilitator has been successful conducting “Our Boxfit Ruahit Programme created an amazing opportunity for our rangatahi to achieve hauora goals with boxfit training in a safe and supervised environment.”
Our ‘Repairs and Maintenance’ programme, funded by Te Puni Kōkiri, continues to track well despite the many disruptions. Work was hampered at critical times due to COVID-19, illness, availability of building supplies and contractors. Nonetheless, 7 homes have been re-roofed, 14 insulated, 11 re-plumbed, 4 have new hot water cylinders, 2 full bathroom renovations and 3 homes have received drainage to stop their homes flooding this year. With winter upon us this will make a huge difference for whānau given the alpine climate we live in. Our dedicated team who also assisted with Ruapehu COVID-19 welfare support over this time and are currently undertaking professional development to become qualified budgeters to provide financial mentoring services to whānau.
Looking Ahead With COVID-19 demands at manageable levels, for now, I look forward to the next 12months with a more concerted focus on strengthening, developing and consolidating our team. We have held a leadership planning and a team planning conference over the past few months that has set our plan for where we want to drive our team and service for the year ahead.
Tane Pai Ora is our 10-week long, Wednesday night Mens program that is co-facilitated by our kaiārahi and Police Family Harm Prevention Officer. This is an opportunity for our tane to voluntarily attend to attain awareness and education around Family Harm. The program is conducted in a group setting which allows our tane to talk, guide and support each other in a controlled environment. This program has been very successful with these tane championing mana enhancing initiatives within their whānau and our community.
“Our Nga Tini Whetu funding has been a huge part of our Whānau Ora kaupapa this year with helping a small group of whānau that were ready to excel their whānau plans.”
Over the past 12 months three courses were run reaching approximately 45 tane from our Kairohe.in a Crockpot is a weekly programme that was created from the impacts of the first COVID-19 lockdown in March 2020. We designed this program to support wāhine with cooking easy, wholesome, costeffective crockpot meals. This program is co-facilitated with one of the Police Family Harm prevention Officers. We use this forum to informally talk about the impacts of family harm creating education and awareness. Each week the wāhine take their kai home. At the completion of the 8-week programs, we celebrate with a graduation ceremony, and everyone is gifted their own crockpot to keep. Three courses were run to coincide with the school terms with 30 wāhine graduating this year.
Joni Takitimu-Cook Pou Hauora
REPORTANNUALRANGINGĀTI 2021/2022Ā-TAUPŪRONGO 29 weekly classes, home visits and wānanga in rongoā, tukutuku, rāranga and taka kai.
REPORTANNUALRANGINGĀTI 2021/2022Ā-TAUPŪRONGO
Ruapehu TransformationWhānauPlan
Kimihia rangahaua kei hea koutou ka ngaro nei. Tēnā ka riro ki Paerau. Ki te huihuinga o te kahurangi. E oti atu, e. E ngā rangatira o te iwi kua hoki ki te po i tēnei tau, te po uriuri, te po tangotango, te iwi nui o te po, e oki! Huri atu te po, nau mai te ao! Tēnā tātou me te mihi ka tika i tēnei taku mihi whakamutunga ki a koutou, e pa ana ki te kaupapa o RWT.
It is my honour to present the final report for the Ruapehu Whānau Transformation plan (RWT), as this was the last year of implementation for this plan and project. Ruapehu Wellness Centre – still a reality!
“ Many felt a sense of enlightment and transformation progressing their own wellness journeys forward.”
Tihiora Ruapehu Wellness Summit
We started the year with an amazing event that was dreamed up in the Waituhi co-working space; Tihiora the inaugural Ruapehu Wellness Summit held over 1415 April 2021. Over two days we brought together an amazing line up of local and national speakers to inspire, share and encourge pathways to wellness. Between 75-110 people participated in the event which included both listening about, and engaging in wellness experiences.
Among others, Professor Sir Mason Durie and Pā Rob McGowan were drawcards. We thank and acknowledge all of our speakers, their knowledge experience and gifts that were shared with those in attendance and the hundreds who connected in through the live stream. Many felt a sense of enlightenment and transformation progressing their own wellness journeys forward. The event was intentionally designed to support the conversations that our community and local health professionals needed to have in pursuit of designing the new Ruapehu Wellness Centre. From the research it was clear that our local population needed more time to see what was possible when designing a new facility and services that should consider holistic wellbeing of the people that the facility will serve. The conversations ignited through the summit have broadened the hearts and minds of our local community and service providers and for this Tihiora achieved its goal. It achieved far more than that one goal though and it is beacuse of this that I encourage the iwi and the community to continue to hold Tihiora events to explore solutions and platforms that provide pathways to wellness.
REPORTANNUALRANGINGĀTI 2021/2022Ā-TAUPŪRONGO 31
The new Ruapehu Wellness Centre (RWC) website showcases Tihiora, and other details of the project. The livestream of Tihiora can still be found online via the RWC facebook page.
The outcomes of Tihiora alongside the Manawanui, Manawaroa, Manawaora E report strengthened the case for the resource to build the new Ruapehu Wellness Centre be included into the new Health Localities Plan. This means that though the 2021 Health Reforms created a new health landscape, our aspiration to transform our local health system into a wellness system through the establishment of a centre will endure, including the Crowns resource of between However,$2-5million.itwill be important to continue to influence the new landscape. There will be many ways to do this. One way is to ensure that Ngāti Rangi is represented strongly on the new Iwi Partnership board and our relationship to the new governance models of the New Zealand Health Authority – Te Whatu Ora and the Māori Health Authority – Te Aka Whaiora are established well.
While there is debate amongst the previous governance of the project over which should come first, the model of care, or the building itself – I have always held the position that there is no perfect way to start, the critical thing is to just get started! Through human nature we often require the physical manifestation of change to believe in it. So the strucutre of the facility could absolutely change the way in which our services change, and more importantly realising the change through being able to ‘see it’ in a new space and environment can empower our local whānau to demand for that change.
In 2021 we launched a report, Manawanui, Manawaroa, Manawaora E! This report is available on the Rupaehu Wellness Centre website. It outlines an extensive engagement process held amongst all of our community, including all health professionals and service providers who will have a relationship to the new Wellness Centre. The report presents insights and recommendations for how the services or model of care for the new centre could be designed and confirmed. It provides an enriched and authentic view from our local community who the service and model will need to cater to. We feel it is a powerful resource and a foundation to build the new service model and holistic approach of the Ruapehu Wellness Centre upon. It outlines key agents who can support the change required to the local health system and even spells out exactly how they can help.
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Manawanui, Manawaroa, Manawaora E!
Data provides discussion points, and evidence to guide action and investment. For those in our community who were the Ruapehu Whānau Transformation reference group, or a part of the project teams they will know and be able to continue to share their knowledge of the stats – stories – solutions methodology. We encourage them and others to continue to use this methodology to support the mahi toward collective wellbeing as Ruapehu! Rarangahia te taurawhiri tangata kia hua ai te marama Bringing people together to make a difference After effectively 10 years of ‘stirring the pot’ creating change, platforms for change and encouraging relationships connections and an approach to working together to achieve change, the blueprint of the plans are complete. The task now moves to all of our whānau, communities and leaders to remember the achievements made together and how when they come together they can create ‘new colours and more beautiful things’ through their shared lens and love.
The RWT website has been updated with some infographics that highlight some of the trends and shifts in a very simple way. The infographics are just to introduce the idea that we can and should be providing regular updates of the impact being made, whether it is in RWT, RWC or any community project being led by anyone. It holds the project lead accountable and it allows the community to keep up with, and participate in the journey.
REPORTANNUALRANGINGĀTI 2021/2022Ā-TAUPŪRONGO 33 Solution 14: RWT Data
In the 10 years of RWT experience I have learnt many many things. One valuable lesson is to keep the approach simple and grounded. To allow yourself to learn as you lead, and evolve as is needed. Despite the complexities of the challenges we face toward achieving wellness for ourselves and with others, the one thing that binds us all is our belief in the shared pursuit, and its Why. The glue that supports this is love aroha; aroha ki te tāngata, aroha ki te taiao. Let love guide us, let purpose ground us, let work ethic pursue the destination. I wish you all well as you take the learnings of RWT forward to collectively suppot the continued pursuit of wellbeing for Ruapehu. Erena Mikaere Project RuapehuManagerWhānau Transformation
REPORTANNUALRANGINGĀTI 2021/2022Ā-TAUPŪRONGO
Te Kūmete o Paerangi Kei ngā kānohi ora o hō tātau mātua i te pō, tēnā rā kautau. Nei rā te mihi ha Te Kūmete o Paerangi ki kautau, otīia ki tātau.
For our first year of operations, the directors in effect took on an operational role for Te Kumete, overseeing formation, bank accounts and reporting back to our shareholder. This was done to keep costs low while we established ourselves; and knowing that we had some way to go to be fully formed and ready to invest.
• Started executing on our plan to build a balanced portfolio of diversified assets
• Established our management resourcing
Our bottom-line accounting return for the year was gigantic, at close to 60%. But this is misleading. It is largely due to the impact of carbon credits. The operating financial result for the year was more modest. This is because we started the year mostly invested in cash. This is usual for recently settled iwi however we have started to undertake investments and iwi members will see the results of this over the coming few years.
Refining our investment strategy Investment is our core job. We have to provide the financial resources to allow Ngāti Rangi, led by Te Tōtarahoe o Paerangi, to thrive and exist vibrantly in 1,000 years. To do this we have to invest wisely and sustainably. As mentioned, we started with cash as this is how settlements are made. But we do not want to just hold cash. We have a longer time horizon than that, and we want better returns to fund our growth as an iwi.
• Refined our investment strategy
REPORTANNUALRANGINGĀTI 2021/2022Ā-TAUPŪRONGO 35
The annual report for financial year FY2021/22 is our second full year of operations. This year we have:
By the start of calendar 2021 we were in a better position and retained Koau Capital Partners as our commercial manager. Koau specialises in providing contract management services to iwi commercial entities and bring expertise and a track record in building financial sustainable portfolios. The contract terms suit us too, giving us flexibility to change as we might see fit.
“The results further show that our focus on investing in income generating assets is critical to ensure that we are able to continue to pay a distribution, while continuing to build the pūtea.”
Management resourcing
$14.9mc$200k 58.5%c0.8%COMPREHENSIVEOPERATINGTOTALINCOMETOTALINCOME OPERATINGTOTALRETURNTOTALRETURNONASSETS
The bulk of our assets remains in cash, however steps have been taken to make some small commitments to managed funds. This will only form a small part of the portfolio however it provides access to risks that we want exposure to (e.g. global markets) but which are expensive to undertake on our own. The recent global markets’ corrections are providing a window to invest
• Pūainuku Vines
• Some small positions in managed funds
We made three new investments during the year:
Scale, time horizon and relationships mean we are well placed to pursue a strategy of investing directly into larger assets, rather than investing via say the stock Wemarket.want to work with other aligned iwi to find good quality, well managed assets and use these to build a portfolio in line with our goals. This involves looking around the country for good quality assets at good prices and with good management. We will move prudently. We don’t want to outrun our experience as an investor. We will report on our progress year by year.
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• Pūai Tangaroa and
New investments
Pūainuku is an iwi owned and controlled collective investment vehicle for the diversified agriculture sector Ngāti Rangi has taken up the opportunity to invest alongside 11 other iwi from throughout the country in viticulture and kōura quota. It would be very difficult to access these investments on our own. By investing collectively we enjoy benefits of origination cost and expertise, and efficiencies in scale and hence operating returns. We can spread our risk further with no loss, and indeed some gain, of reward.
Our existing assets
• Karioi Forest is Ngāti Rangi’s biggest asset at a value of $10.4m covering c9,000 hectares of forest land. Rental negotiations commenced in FY22 and are continuing with the incumbent forester. There are challenges that are faced by the forest such as pinus
• Is resilient in downturns so that we’re never in a position that we let down Te Tōtarahoe.
• Is balanced and is diversified across a number of asset classes and sectors.
• Delivers sustainable distributions to Te Tōtarahoe as well as capital growth
In addition to cash the major assets we got through settlement are Karioi Forest and NZUs.
The arrival of new management was a good chance to check in on our investment strategy. We tested our values and goals, our advantages and our Thechallenges.overall direction remains the same, in short we want to build a portfolio that:
What we have now added is a detailed implementation pathway. It is one thing to talk about having a balanced portfolio, it is another to find the appropriate investments and assets to fill this.
Pūai Tangaroa purchased 2.14 tonne of kōura quota (CRA4) and become a limited partner in Port Nicholson Fisheries LP, another Māori owned company that allows iwi to participate in the full kōura value chain to derive greater returns.
Pūainuku Vines currently owns 66ha of vineyards in the prime lower Wairau area of Marlborough, largely regarded as the blue-chip location in the region. The vineyards are leased to the Giesen Group with strong returns and extremely positive terms.
• Finalisation of the Karioi Forest rent review and the Forestry Right Agreement which will solidify the longterm future of the forest
Originating asset opportunities takes some time and while we did not complete transactions in FY22, significant resource went into assessing the commercial property pipeline available under the Treaty settlement.
•are:Purchase of the land-only interest of Ruapehu College from the Ministry of Education
• With the transfer of the forest as part of settlement, c160,000 NZUs were also transferred from the Crown to Te Tōtarahoe o Paerangi. These NZU’s are now sitting with Te Kūmete o Paerangi with the key objective being to generate an income from the asset.
REPORTANNUALRANGINGĀTI 2021/2022Ā-TAUPŪRONGO 37 contorta and therefore the commercial yield is at the lower end of the forestry return spectrum, and has made this process challenging, but management will continue to work to ensure the best outcome for Ngāti Rangi.
The results further show that our focus on investing in income generating assets is critical to ensure that we are able to continue to pay a distribution, while continuing to build the pūtea.
The other major opportunity we have before us is the New Zealand Defence Force Housing development at Waiouru. As iwi members will remember, this was a key part of our Treaty Settlement redress provided through Rukutia te Mana. We have been negotiating with the Crown and financiers over the past 9 months and expect to agree high-level terms in the coming months.
• Development of affordable housing in Ohakune to support uri into homes
As part of the FY23 Annual Planning process the Te Kūmete Board approved the distribution of $312,000 to be made to Te Tōtarahoe o Paerangi Trust.
The Treaty settlement included the right to purchase up to 60 properties. Some of these have only tangential economic potential. It is our task to sift through these looking for the best commercial properties. Our focus is on properties that can be leased back to the Crown or lots that we can develop for housing, in conjunction with charitable funding and funding partners. You should expect to start seeing acquisitions in this space from FY23 and on. We aim to acquire Ruapehu College (land only) by the time of the AGM.
Total comprehensive income of $14.9m equivalent to a total return on assets of 58.5% however this is misleading as includes full NZU uplift ($12m) and forest uplift ($2m).
• Investment into iwi collective investment vehicles with a focus on commercial property, property development and diversified agribusiness
Financial results
The year ahead is proving to be another exciting one, with the focus of continuing to execute on our direct investment strategy.
• Agreeing partnership and development model with NZDF to meet their housing needs Thanks
Year ahead
Key things that you will see in the coming 12 months
Finally, I would like to thank my fellow directors for their contribution and guidance throughout the year and I also acknowledge the management team at Te Tōtarahoe and Ngā Waihua o Paerangi for their support for our mahi. Hei kōrero whakamutunga māku, kua tikina atu tētehi whakataukitanga kōrero hei whakaaroarotanga mā tātau “ka mate kai horo, ka ora kai whakatonu.” Nō reira e te iwi, kia whiti rere te māramatanga ki te ngākau me te hinengaro o tātau katoa. Ngā Tomairangimihi Mareikura Chair, Te Kūmete o Paerangi
Total operating income for Te Kūmete of c$200k generated an operating return of c0.8%. This is below the long-term target of 4.0% - 4.5% but FY22 was first year of direct investing and direct investment preparation, and this will gradually improve as we execute on the agreed plan.
Other activity
REPORTANNUALRANGINGĀTI 2021/2022Ā-TAUPŪRONGO
Ruapehu WorX continues to provide local opportunity and employment outcomes for our community of southern Ruapehu, Hāpaitia to ora –uplift our people our place. Ruapehu WorX has increased in size to 9 fulltime kaimahi who have delivered over 11000 hours in conservation management protecting our Taiao and Ngāhere within the rohe of Ngāti Rangi.
Ruapehu WorX Ltd
REPORTANNUALRANGINGĀTI 2021/2022Ā-TAUPŪRONGO 39
The Year Ahead A key goal has been to be active kaitiaki within our rohe. Our team’s hard work has paid off as we continue to grow and secure contracts resulting in better outcomes for the Taiao. In conjunction with the wider Ngāti Rangi group we continue to ensure that stakeholders know our expectations when it comes to working within our Ruapehurohe.
Ruapehu WorX has been successful in being awarded the contract for design and build of Te Ara Mangawhero, this is another first in Aotearoa being an iwi owned, designed, and build of a nationally significant trail project on the southern slopes of TeRuapehu.AraMangawhero project started in 2013 in partnership with DOC, Ngāti Rangi, and the wider Ohakune community, funding was secured late 2020 and the construction will be phased over the next 3 years. Once constructed ownership will be transferred back to Ngāti Rangi, this nationally significant trail will have lasting benefits spanning multiple generations and aligning with Ngāti Rangi being vibrant for 1000 years.
“Our team’s hard work has paid off as we continue to grow and secure contracts resulting in better outcomes for the Taiao.” the shift in kaimahi from being perceived as “unskilled” to now skilled labour by gaining valuable qualifications.
The Karioi Rāhui partnership with the Department of Conservation (DOC) has been reignited through the Jobs for Nature initiative that we were successful in securing. This was one of the first examples of comanagement with DOC in the country that started back in 1990s led by our pahake of the time.
Karioi Rāhui
WorX real success extends beyond financial success and securing contracts. The hidden benefits is
We are committed to providing opportunities which have historically not been available to the wider community within our rohe, these opportunities are now reality with the success of winning contracts in environmental management and construction spanning multiple years.
Ruapehu WorX has committed over 1100 hours to training kaimahi from September 2021 through to March 2022, this will be continued over the next 3 years enabling opportunities for many different career options into the future. Ruapehu WorX is still in its infancy as the first direct investment for Te Kumete o Paerangi. The past year has been challenging brought upon by COVID-19, upskilling new staff and trying to find a balance between commercial viability as well as delivering social and environmental outcomes. We remain committed to ensuring we uphold our mantra of Hāpaitia te ora –uplift our people, our place!
Paul Carr General RuapehuManagerWorxLtd
Te Ara Mangawhero
REPORTANNUALRANGINGĀTI 2021/2022Ā-TAUPŪRONGO
FINANCIAL2022 STATEMENTS TE TŌTARAHOE O PAERANGI TRUST GROUP 42 Trust Directory 43 Consolidated Statement of Comprehensive Revenue & Expenses 44 Consolidated Statement of Changes in Net Assets 45 Consolidated Statement of Financial Position 46 Consolidated Statement of Cash Flows 47 Notes to the Financial Statements 68 Auditor’s report
RANGINGĀTIANNUALREPORT 2021/2022Ā-TAUPŪRONGO 42 TE TŌTARAHOE O PAERANGI TRUST GROUP TRUST DIRECTORY FOR THE YEAR ENDED 31 MARCH 2022 4 | Page Te Tōtarahoe o Paerangi Trust Group Trust Directory For the Year Ended 31 March 2022 Purpose of Trust The purpose for which the Trust has been established is to receive, manage, hold and administer the Trust Assets on behalf of and for the benefit of present and future uri of Ngati Rangi in accordance with the Trust Deed. Address Physical Address 1 Mountain Road, Ohakune, Ruapehu, New Zealand, 4625 Postal Address PO Box 195, Ohakune, Ruapehu, New Zealand, 4625 Members of Trust Board Whetu Moataane (Chairperson) Sarah Bell (Deputy Chairperson) Darnielle Tomairangi Mareikura Sarah Reo Rawiri BernardDeborahTinirauTeRiakiWhakataumatatanga Mareikura Chief Executive Hoani Ponga
REPORTANNUALRANGINGĀTI 2021/2022Ā-TAUPŪRONGO 43 TE TŌTARAHOE O PAERANGI TRUST GROUP CONSOLIDATED STATEMENT OF COMPREHENSIVE REVENUE & EXPENSES FOR THE YEAR ENDED 31 MARCH 2022 5 | P a g e Group Note 2022 2021 $ $ Revenue from non-exchange transactions Grants & Funding 6 729,901 1,103,104 Other Revenue 7 67,557 758,073 Donations 14,560 49,530 812,018 1,910,707 Revenue from exchange transactions Grants & Funding 8 4,541,750 3,082,362 Karioi Forest Lease 246,107 246,107 Other Revenue 9 35,332 63,016 Interest Income 156,954 225,891 4,980,144 3,617,377 Total Revenue 5,792,162 5,528,084 Expenses Employee Related Costs 10 2,563,433 1,796,515 Sub Contractors and Sub Contracted Services 11 984,986 896,522 Other Operating Expenses 12 1,495,914 939,472 Grants and Donations made 13 10,426 12,825 Depreciation of Property, Plant & Equipment 24 183,186 118,435 Interest Expense 2,147 2,166 Total Expenses 5,240,093 3,765,936 Net Operating Surplus 552,069 1,762,148 Other Gains/ (Losses) Revaluation of Investment property 21 2,556,184 Total Surplus/ Deficit for the year before taxation 3,108,253 1,762,148 Taxation Expense 25 20,549 33,547 Net Surplus after Taxation 3,087,704 1,728,602 Other Comprehensive Revenue & Expenses 12,108,455 Total Comprehensive Revenue & Expenses 15,196,159 1,728,602 Te Tōtarahoe o Paerangi Trust Group Consolidated Statement of Comprehensive Revenue & Expenses For the Year Ended 31 March 202 2
RANGINGĀTIANNUALREPORT 2021/2022Ā-TAUPŪRONGO 44 6 | P a g e Group Note comprehensiveAccumulatedrevenueandexpense Total equity $ $ Opening Balance 1 April 2021 29,964,212 29,964,212 Total Comprehensive Revenue for the year 15,196,156 15,196,156 Closing Equity 31 March 202 2 45,160,371 45,160,371 Opening Balance 1 April 2020 28,235,610 28,235,610 Total Comprehensive Revenue for the year 1,768,602 1,768,602 Closing Equity 31 March 20 21 29,964,212 29,964,212 Te Tōtarahoe o Paerangi Trust Group Consolidated Statement of Changes in Net Assets For the Year Ended 31 March 202 2 TE TŌTARAHOE O PAERANGI TRUST GROUP CONSOLIDATED STATEMENT OF CHANGES IN NET ASSETS FOR THE YEAR ENDED 31 MARCH 2022 44
REPORTANNUALRANGINGĀTI 2021/2022Ā-TAUPŪRONGO 45 TE TŌTARAHOE O PAERANGI TRUST GROUP CONSOLIDATED STATEMENT OF FINANCIAL POSITION FOR THE YEAR ENDED 31 MARCH 2022 7 | P a g e Group Note 2022 2021 $ $ Current Assets Cash & Cash Equivalents 14 10,191,971 20,101,614 Investments 15 12,006,275 1,377,100 Trade Receivables (Non exchange) 20 3,461 33,941 Trade Receivables (Exchange) 20 629,615 631,119 Inventory 1,939 1,985 GST Refund 160,534 Tax Asset 25 4,595 113,536 Total Current Assets 22,837,856 22,419,829 Non Current Assets Investments 15 744,784 Investment Property 21 11,050,651 8,427,817 Property, Plant & Equipment 24 726,381 726,819 New Zealand Carbon Credits 12,094,892 Total Non-Current Assets 24,616,708 9,154,635 Total Assets 47,454,564 31,574,465 Current Liabilities Trade & Other Payables 22 254,963 301,564 Income in Advance 22 1,798,134 1,157,305 GST Payable 60,490 Employee Entitlements 23 150,489 105,555 Finance Lease 26 15,713 15,713 2,279,790 1,580,136 Non Current Liabilities Finance Lease 26 14,403 30,116 14,403 30,116 Total Liabilities 2,294,193 1,610,253 Net Assets 45,160,371 29,964,212 Represented by: Retained Earnings 45,160,371 29,964,212 Total Equity 45,160,371 29,964,212 Chairman: Trustee: Date: Date: Te Tōtarahoe o Paerangi Trust Group Consolidated Statement of Financial Position For the Year Ended 31 March 202 2 15 August 2022 15 August 2022
RANGINGĀTIANNUALREPORT 2021/2022Ā-TAUPŪRONGO 46 TE TŌTARAHOE O PAERANGI TRUST GROUP CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2022 8 | P a g e Group Note 2022 2021 $ $ Cash flows from operating activities ReceiptsNon exchange Receipts from grants & funding 820,904 1,141,383 Receipts from donations 14,560 54,422 Other 71,306 728,011 Exchange Receipts from Fees and Services 5,486,054 4,085,753 Receipts from Other Exchange Transactions 159,449 Receipts from Interest 156,036 275,574 6,548,860 6,444,593 Payments Payments to Suppliers 2,632,634 1,823,808 Payments to Employees 2,477,038 1,691,864 Grants & Donations Paid 6,920 Interest Paid 1,584 Net Income Tax (113,540) 5,001 GST Paid (221,061) 198,399 4,775,071 3,727,576 Net cash flows from operating activities 1,773,788 2,717,017 Cash flows from investing activities Receipts DistributionInventory Received 14,671 14,671 Payments Purchase of Property, Plant & Equipment 216,150 329,176 Purchase of Investments 11,462,995 1,138,905 Leases 18,959 28,779 RWT 94,533 Purchase from Other Investing Activities 11,698,104 1,591,393 Net cash flows from investing activities (11,683,433) (1,591,393) Cash flows from financing activities Proceeds from loans 3,246 Net cash flows from financing activities 3,246 Net Increase / (Decrease) in Cash & Cash Equivalents (9,909,643) 1,128,870 Cash & Cash Equivalents at 1 April 20,101,614 18,972,745 Cash & Cash Equivalents at 31 March 14 10,191,971 20,101,614 Te Tōtarahoe o Paerangi Trust Group Consolidated Statement of Cash Flows For the Year Ended 31 March 2022
The financial statements comprising of Te Tōtarahoe o Paerangi Trust (Parent), Te Kūmete o P aerangi Limited Partnership, Ruapehu WorX Limited Partnership , Ngā Waihua o Paerangi Trust and its controlled entity, Ruapehu Recruitment Limited, together the "Group" are presented for the year ended 31 March 202 2. These group financial statements and the accompanying notes summarise the financial results of activities carried out by the Group.
For the Year Ended 31 March 202 2
The parent was established under the Ngati Rangi Claims Settlement Act 2019. Treaty Settlement
The Group financial statements have been prepared in accordance with Generally Accepted Account ing Practice in New Zealand ("NZ GAAP"). They comply with Public Benefit Entity International Public Sector Accounting Standards ("PBE IPSAS") and other applicable financial reporting standards as appropriate that have been authorised for use by the External Reporting Board for Not for Profit entities. For the purposes of complying with NZ GAAP, the Group is a public benefit not for profit entity and is eligible to apply Tier 2 Not for Profit PBE IPSAS on the basis that it does not have public accoun tability and it is not defined as large. The Board of Trustees has elected to report in accordance with Tier 2 Not for Profit PBE Accounting Standards and in doing so has taken advantage of all applicable Reduced Disclosure Regime ("RDR") disclosure concessions.
2. Statement of Compliance
REPORTANNUALRANGINGĀTI 2021/2022Ā-TAUPŪRONGO 47 TE TŌTARAHOE O PAERANGI TRUST GROUP NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 9 | Page
Tōtarahoe
The significant accounting policies used in the preparation of these financial statements as set out below have been applied consistently to both years presented in these financial statements
These consolidated financial statements have been prepared on the basis of historical cost, as modified by the fair value measurement of non -derivative financial instruments. The accrual basis of accounting has been used unless otherwise stated.
Te o the Statements
Financial
1. Reporting Entity
The Ngati Rangi Deed of Settlement is the final settlement o f all historical Treaty of Waitangi claims of Ngati Rangi. The settlement includes an agreed historic account, crown acknowledgements and apology, cultural redress, financial and commercial redress. The total value of financial and commercial redress for N gati Rangi is $17 million plus $8 46 million in accumulated forestry rentals and $879k in interest This a combination of cash and commercial redress properties.
3. Summary of accounting policies
Paerangi Trust Group Notes to
Basis of measurement
Functional and presentational currency
Contract Funding
Grant Revenue
Transactions in which one entity receives assets or services, or has liabilities extinguished, and directly gives approximately equal value to another entity in exchange.
Contract funding is recognised when the requirements under the contract agreement have been met.
Grant revenue includes funding received under contract and grants given by other charitable organisations, philanthropic organisations, government agencies, non government agencies and businesses. Grant revenue is recognised when the conditions attached to the grant have been complied with. Where there are unfulfilled conditions attaching to a grant, the amount relating to the unfulfilled condition is recognised as a liability and released to revenue as the conditions are fulfilled.
Revenue
The consolidated financial statements are presented in New Zealand ($), which is the Group's functional currency. There has been no change in functional currency of the Group during the year.
Controlled entities are all those entities over which the controlling entity has the power to govern the financial and operating policies so as to benefit from its activities. The controlled entities are consolidated from the date on which control is transferred and are de consolidated from the date that control ceases.
Basis of consolidation
Donations are recognised as revenue upon receipt and include donations from the general public, donations received for specific programme s or services or donations in kind. Where a value can reasonably be place on donations in kind these are recognised in the financial statements.
Revenue is measured at the fair values of the consideration received. Revenue is recognised when the significant risks and rewards of ownership has been transferred to the buyer and when the rights to receive payment is established. The following specific recognition criteria must be met before revenue is recognised.
In preparing the consolidated financial statements, all in ter entity balances and transactions, and unrealised gains and losses arising within the consolidated entity are eliminated in full. The accounting policies of the controlled entity are consistent with policies adopted by the Group and have a 31 March 2022 reporting date.
Donations
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Revenue from non-exchange transactions
Transactions that are not exchange transactions are where an entity either receives value from another entity, without directly giving or receiving approximately equal value in exchange.
Te Tōtarahoe o Paerangi Trust Group Notes to the Financial Statements For the Year Ended 31 March 202 2
Revenue from exchange transactions
Rental Income from investment properties is recognised in the Profit and Loss on a straight line basis over the term of the lease. Contingent rentals are recognised as income in the reporting period in which they are earned.
Rental income
Dividend income from investments is recognised when the shareholder's right to receive payment has been established (provided that it is probable that the economic benef its will flow to the Group and the amount of income can be measured reliably).
Fees for services
Te Tōtarahoe o Paerangi Trust Group Notes to the Financial Statements For the Year Ended 31 March 202 2 TE TŌTARAHOE O PAERANGI TRUST GROUP NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022
Financial assets and financial liabilities are recognised when the Group becomes a party to the contractual provisions of the financial instrument.
Finance income comprises interest income on funds invested dividend income and gains on the disposal of available for sale financial assets. Interest income from a financial asset is recognised when it is probable that the economic benefits will flow to th e Group and the amount of income can be measured reliably. Interest income is accrued on a time basis, by reference to the principal outstanding and at the effective interest rate applicable, which is the rate that exactly discounts estimated future cash r eceipts through the expected life of the financial asset to that asset's net carrying amount on initial recognition.
Fees for services are recognised when the service has been delivered and the entitlement for payment has arisen.
Finance income and expenses
Finance expenses comprise impairment losses, losses arising from transactions denominated in currencies other than the Group’s functional currency, and interest recognised on financial assets (except for trade payables).
Determination of Fair Value
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Financial instruments
A number of the Group’s accounting policies and disclosures require the determination of fair value, for both financial and non financial assets and liabilities. Where applicable, further information about the assumptions made in determining fair values is disclosed in the notes specific to that asset or liability
The Group derecognises a financial asset or, where applicable, a part of a financial asset or part of a group of similar financial assets when the rights to receive cash flows from the asset have expired or are waived, or the Group has transfe rred its rights to receive cash flows from the asset or has assumed an obligation to pay the received cash flows in full without material delay to a third party; and either: the Group has transferred substantially all the risks and rewards of the asset; or the Group has neither transferred nor retained substantially all the risks and rewards of the asset but has transferred control of the asset.
Trade payables are classified as other non derivative financial instruments and are stated at amortised cost.
Impairment of financial assets
Financial Assets
Financial assets at fair value through surplus or deficit
The Group assesses at the end of reporting date whether there is any objective evidence that a financial asset or a group of financial assets is impaired. A financial asset or a group of financial assets is impaired and impairment losses are incurred if there is objective evidence of impairment as a result of one or more events that occurred after the initial recognition of the asset (a 'loss event') and th at loss even has an impact on the estimated future cash flows of the financial asset or the group of financial assets that can be reliably estimated.
Te Tōtarahoe o Paerangi Trust Group Notes to the Financial Statements For the Year Ended 31 March 202 2 TE TŌTARAHOE O PAERANGI TRUST GROUP NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022
Loans and receivables
Loans and receivables are non derivative financial assets with fixed or determinable payments that are not quoted on an active market. After initial recognition, these are measured at amortised cost using the effective interest method, less any allowance for impairment. The Group's cash and cash equivalents, short term investments, receivables from non exchange transactions, receivables from exchange transactions and non equity investments fall into this category of financial instruments.
The categorisation determines subsequent measurement and whether any resulting income and expense is recognised in surplus or deficit or in other comp rehensive income and expenses. The Group's financial assets are classified as either financial assets at fair value through surplus or defi cit, or loans and receivables. The Group's financial assets include: cash and cash equivalents, short term investments, receivables from non-exchange transactions, receivables from exchange transactions and investments.
All financial assets, except for those at fair value through surplus or deficit, are subject to review for impairment at least at each reporting date. Financial assets are impaired when there is any objective evidence that a financial asset or group of fin ancial assets is impaired. Different criteria to determine impairment are applied for each category of financial assets, which are described below.
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Financial assets at fair value through surplus or deficit include items that are either classified as held for trading or that meet certain conditions and are designated at fair value through surplus or def icit upon initial recognition. The Group's investment equities fall into this category of financial assets.
Trade Payables
Financial assets within the scope of NFP PBE IPSAS 29 Financial Instruments: Recognition and Measurement are classified as financial assets at fair value through surplus or deficit, loans and receivables, held to maturity investments or availa ble for sale financial assets. The classifications of the financial assets are determined at initial recognition.
Trade receivables classified as other non derivative financial instruments are stated at amortised cost using the effective interest method, less any impairment losses for amounts that have a significant risk of non collection. When a receivable is identified as being non collectible it is expensed immediately in profit and loss.
Trade Receivables
For financial assets carried at amortised cost, if there is objective evidence than an impairment loss on loans and receivables carried at amortised cost has been incurred, the amount of the loss is measured as the difference between the asset's carrying amount and the present value of the estimated future cash flows discounted at the financial asset's original effective interest rate. The carrying amount of the asset is reduced through the use of an allowance amount. The amount of the loss is recognised in the surplus or deficit for the reporting period.
Short term investments comprise term deposits which have a term of greater than three months and therefore do not fall into the category of cash and cash equivalents.
Property, plant and equipment
Property, plant and equipment is recognised at cost less aggregat e depreciation. Historical cost includes expenditure directly attributable to the acquisition of assets and includes the cost of replacements that
In determining whether there is any objective evidence of impairment, the Group first assesses whether there is objective evidence of impairment of financial assets that are individually significant, and individually or collectively significant for financial assets that are not individu ally significant. If the Group determines that there is no objective evidence of impairment for an individually assessed financial asset, it includes the asset in a group of financial assets with similar credit risk characteristics and collectivel y assesses them for impairment. Assets that are individually assessed for impairment and for which an impairment loss is or continues to be recognised are not included in a collective assessment for If,impairment.inasubsequent period, the amount of the impairm ent loss decreases and the decrease can be related objectively to an event occurring after the impairment was recognised, the previously recognised impairment loss is reversed by ad justing the allowance account. If the reversal results in the carrying amount exceeding its amortised cost, the amount of the reversal is recognised in surplus or deficit
Inventories
Short term investments
Financial Liabilities
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Cash and cash equivalents are short term, highly liquid investments that are readily convertible to known amounts of cash and which are subject to an insignificant risk of changes in value.
All financial liabilities are initially recognised at fair value (plus transaction cost for financial liabilities not at fair value through surplus or deficit) and are measured subsequently at amortised cost using the effective interest method except for financial liabilities at fair value through surplus or deficit.
Te Tōtarahoe o Paerangi Trust Group Notes to the Financial Statements For the Year Ended 31 March 202 2 TE TŌTARAHOE O PAERANGI TRUST GROUP NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022
The Group’s financial liabilities include trade and other creditors (excluding GST and PAYE), employee entitlements and deferred income (i n respect to grants whose conditions are yet to be complied with).
Cash and cash equivalents
Inventories held for consumption in the provision of services that are not sold on a commercial basis are measured at the lower of cost or net realisable value.
Furniturerates:&Fittings
Depreciation allocates the cost of the asset over an estimate of an asset’s useful life. The following estimated depreciation 16% 100% (1 7 years) 100% Office Equipment 16% 60% (2 7 years) 10% (10 years) Plant & Equipment 16% 60% (2 7years) Motor Vehicles 30% (4 years) Ruapehu Whanau Transformation 0% 50% (2 infinity)
ImprovementsLeasehold
Depreciation methods, useful lives and residual values are reviewed at each reporting date and are adjusted if there is a change in the expected pattern of consumption of the future economic benefits or service potential embodied in the asset.
Gains and losses on disposal of fixed assets are taken into account in determining the operating result for the year.
Equipment<$500
Operating lease payments, where the lessors effectively retain substantially all of the risks and benefits of ownership of the leased items, are recognised in the determination of the operating surplus in equal instalments over the lease term.
Operating leases
Leased Assets Leases where the entity assumes substantially all the risks and rewards of owne rship are classified as finance leases. The assets acquired by way of finance lease are measured at an amount equal to the lower of their fair value and the present value of the minimum lease payments at inception of the lease, less accumulated depreciatio n and impairment losses. Leased assets and corresponding liability are recognised in the Statements of Financial Position and leased assets are depreciated over the period the entity is expected to benefit from their use or over the term of the lease.
Te Tōtarahoe o Paerangi Trust Group Notes to the Financial Statements For the Year Ended 31 March 202 2 TE TŌTARAHOE O PAERANGI TRUST GROUP NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022
RANGINGĀTIANNUALREPORT 2021/2022Ā-TAUPŪRONGO 52 14 | P a g e are eligible for capitalisa tion when these are incurred. Bequeathed or gifted assets are recorded at their fair value. All other repairs and maintenance are recognised as expenses in the Statement of Financial Performance in the financial period in which they are incurred . Items of property plant, and equipment with an individual value in excess of $ 1,000 are capitalised on purchase. Other items with an individual value below $1,000 are expensed.
Goods and Services Tax
Employee Benefits
Income Tax Ngā Waihua o Paerangi Trust is exempt from tax due to it's charitable status, however it's subsidiary Ruapehu Recruitment Ltd is subject to tax, which has been recognised under the taxes payable method.
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Liability for wages and salaries, annual leave and accumulating sick leave are recognised in surplus or deficit during the period in which the employee provided the related services. Liabiliti es for the associated benefits are measured at the amounts expected to be paid wh en the liabilities are settled.
Revenues, expenses and assets are recognised net of the amount of GST except for receivab les and payables, which are stated with the amount of GST included.
Accumulated comprehensive revenue and expense
Wages, salaries, annual leave and sick leave
Accumulated comprehensive revenue and expense is the Group's accumulated surplus or deficit since its formation.
The net amount of GST recoverable from, or payable to, the Inland Revenue Department is included as part of receivables or payables in the statement of financial position.
Cash flows are included in the statement of cash flows on a ne t of GST basis. The GST component of cash flows arising from investing and financing activities, which is recoverable from, or payable to, the Inland Revenue Department is classified as part of operating cash flows.
Te Tōtarahoe o Paerangi Trust Group Notes to the Financial Statements For the Year Ended 31 March 202 2 TE TŌTARAHOE O PAERANGI TRUST GROUP NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022
Investment Property Investment properties, principally comprising direct property investments, are held for long term capital appreciation and to earn rentals. Investment properties are initially measured at cost, plus related costs of acquisition with the exception of investment properties transferred from the Crown on settlement, which have been measured at the value of conside ration transferred from the Limited Partnership. Subsequent expenditure is charged to the asset’s carrying amount only when it is probable that future economic benefits associated with the item will flow to the Partnership and the cost of the item can be measured reliably.
The Group is registered for Goods and Services Tax (GST) Equity Equity is the community's interest in the Group, measured as the difference between tota l assets and total liabilities. Equity is made up of the following components:
Te Kūmete o Paerangi Limited Partnership is a Limited Partnership effective from incorporation date. All profits and losses are deemed to belo ng to the Shareholders. Therefore, the Partnership is not subject to income tax on its profits and does not have an imputation credit account.
Subsequent to initial recognition, investment properties are measured at fair value. Gains and losses arising from changes in the fair value of investment properties are included in the Profit and Loss in the period in which they arise. The investment properties from settlement have been valued at their deemed consideration transferred from the Crown.
TheInvestmentoccur.Propertyinvestmentproperties
Te Tōtarahoe o Paerangi Trust Group Notes to the Financial Statements For the Year Ended 31 March 202 1 TE TŌTARAHOE O PAERANGI TRUST GROUP NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022
4. Significant accounting judgements, estimates and assumptions
The preparation of the Group's consolidated financial statements requires management to make judgements, estimates and assumptions that affect the reported amounts of revenues, expenses, assets and liabilities, and the accompanying disclosures, and the disclosure of contingent liab ilities. Uncertainty about these assumptions and estimates could result in outcomes that require a material adjustment to the carrying amount of assets or liabilities affected in future periods
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All costs directly associated with the purchase and construction of a property, and all subsequent capital expenditures for the development qualifyin g as acquisition costs, are capitalised.
Properties that are being constructed or developed for future use are classified as investment properties.
The Group has entered into a photocopier lease. The Group has determined, based on evaluation of the terms and conditions of the arrangements, such as the lease term not constituting a substantial portion of the economic life o f the photocopier, that it does not retain all the significant risks and rewards of ownership of these properties and accounts for the contract as an operating lease.
from settlement have been valued at their deemed considera tion transferred from the Crown and that any cha nge in the assumptions used could impact the value of the investments.
Finance lease commitments
The key assumptions concerning the future and other key sources of estimation uncertainty at the reporting date that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year. The Group bases its assumption and estimates on parameters available when the consolidated finan cial statements were prepared. Existing circumstances and assumptions about future developments, however, may change due to market changes or circumstances arising beyond the control of the Group. Such changes are reflected in the assumptions when they
An investment property is derecognised upon disposal or when the investment property is permanently withdrawn from use and no future economic benefits are expected from the disposal. Any gains or losses of the property (calculated as the difference between the net disposal proceeds and the carrying amount of the asset) are included in the Profit and Loss in the period in which the property is derecognised.
Estimates and assumptions
all
REPORTANNUALRANGINGĀTI 2021/2022Ā-TAUPŪRONGO 55 17 | P a g e Changes in Accounting Policies There have been no changes in accounting policies. Poli cies have been applied on a consistent basis with those of the previous reporting period. 5. Group Information - Subsidiaries The consolidated financial statements of the Group include the following subsidiaries: 2022 2021 Te Tōtarahoe o Paerangi Trust Parent Te Kūmete o Paerangi Limited Partnership Interest 100% 100% Ruapehu WorX Limited Partnership Interest 100% 100% Ngā Waihua o Paerangi Trust Interest 100% 100% Ruapehu Recruitment Limited Interest 100% 100%
Ngā
6. Grants & Funding (Non Exchange) Group 2022 2021 $ $ Genesis 583,221 659,857 Horizons 4,766 72,642 Transpower 1,349 Winstone Pulp International 111,915 179,674 Ruapehu Alpine Lifts 30,000 30,000 JR McKenzie Trust 75,757 NZ Lotteries Grants Board 83,825 729,901 1,103,104 Te Tōtarahoe o Paerangi Trust Group Notes to the Financial Statements For the Year Ended 31 March 202 2 TE TŌTARAHOE O PAERANGI TRUST GROUP NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022
o
On the 25 November 2020 it was decided to merge Ngāti Rangi Community Health Centre with Ngā Waihua o Paerangi Trust. All assets from Ngāti Rangi Community Health Centre have been transfer to Ngā Waihua o Paerangi Trust In March 2022 it was decided to wind up operations of the subsidiary Ruapehu Recruitment. All assets from Ruapehu Recruitment have been transferred to the Waihua o Paerangi Trust.
The reporting date of Te Tōtarahoe Paerangi Trust and subsidiaries is 31 March.
RANGINGĀTIANNUALREPORT 2021/2022Ā-TAUPŪRONGO 56 18 | P a g e 7. Other Revenue (Non- Exchange) Group 2022 2021 $ $ GST refund on expenses. 202,353 Ngati Rangi Community Health Centre 520,967 Sundry Revenue 67,557 34,754 67,557 758,073 The GST refund on expenses relates to the under recovery on GST for expenses relating to the settlement for the periods 1 April 2013 to 31 March 2019. This refund has been recognised in the 2021 financial year due to the voluntary disclosure not being made to the IRD until this financial year. 8. Grants & Funding (Exchange) Group 2022 2021 $ $ Atihau Whanganui 6,864 2,288 Contract Funding 35,633 15,943 DOC Jobs For Nature 610,309 DOC Matemateora Track 30,561 Land Information NZ 50,000 37,500 Massey University 5,000 Ministry of Business, Innovation & Employment 951,322 552,625 Ministry of Education 150,000 127,500 Ministry of Health 36,000 Ministry of Social Development 101,340 28,627 Ngā Whenua Rahui Funding 45,116 OSPRI New Zealand Limited 40,000 40,000 Ruapehu District Council 17,979 294,607 Te Oranganui Trust 127,151 71,035 Te Kaahui o Rauru 306,731 Te Puni Kokiri 473,501 469,733 Universal College of Learning Limited Funding 16,160 Whanau Ora Commissioning Agency 877,500 1,216,500 Whanganui DHB 726,860 159,728 4,541,750 3,082,362 Te Tōtarahoe o Paerangi Trust Group Notes to the Financial Statements For the Year Ended 31 March 202 2 TE TŌTARAHOE O PAERANGI TRUST GROUP NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022
REPORTANNUALRANGINGĀTI 2021/2022Ā-TAUPŪRONGO 57 29 | P a g e 9. Other Revenue (Exchange) Group 2022 2021 $ $ Advertising Reimbursement 265 4,076 Concession Revenue 10,737 Consultancy Income 2,088 Department of Conservation 9,566 Merchandise Sales 78 9,642 Rental Income 16,475 16,475 Te Pae Tata Location Services 16,426 12,520 35,332 63,016 10. Employee Related Costs Group 2022 2021 $ $ ACC Levies 10,039 7,229 Staff Expenses 36,242 Salaries & Wages 2,517,152 1,789,287 2,563,433 1,796,515 11. Subcontractors and sub-contracted services Group 2022 2021 $ $ Accountancy Fees 28,710 11,894 Audit Fees 30,350 42,500 Catering 56,511 53,501 Cleaning & Minor Maintenance 8,998 11,503 Consulting / Contracting 709,654 703,151 IT Support 71,132 13,548 Legal Expenses 43,934 60,425 Valuation Fees 35,698 984,986 896,522 Te Tōtarahoe o Paerangi Trust Group Notes to the Financial Statements For the Year Ended 31 March 202 2 TE TŌTARAHOE O PAERANGI TRUST GROUP NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022
RANGINGĀTIANNUALREPORT 2021/2022Ā-TAUPŪRONGO 58 20 | P a g e 12. Other Operating Expenses Group 2022 2021 $ $ Accommodation 363 1,242 Advertising 45,069 66,525 Bank Fees 2,348 1,791 Building Lease 49,938 25,259 Equipment <$1000 12,315 16,970 Entertainment 145 268 Fuel & Oil 36,276 23,106 Heating & Power 20,693 17,242 Housing Repairs & Maintenance 216,814 209,313 Hui Costs 181,989 192,920 Insurance 52,757 25,370 Loss on Sale of Fixed Asset 2,393 Merchandise Stock Inventory 46 10,627 Office Cost 8,159 4,976 Other Expenses 284 9,653 Plant and Equipment Hire 900 People and Capability 5,009 Phone Cost 48,314 35,385 Postage 756 Printing & Stationery 13,156 16,307 Rent 6,130 1,662 Repairs & Maintenance 29,791 12,860 Software Licence 52,058 39,601 Subscriptions 30,274 21,143 Materials & Equipment 584,722 100,119 Training 20,654 31,747 Travel 48,189 62,974 Venue Hire 4,833 3,063 Website 22,297 7,400 IRD Penalties 1,192 1,495,914 939,472 13. Grants and Donations Made Group 2022 2021 $ $ Koha 874 6,920 Scholarships & Sponsorships 9,552 5,905 10,426 12,825 Te Tōtarahoe o Paerangi Trust Group Notes to the Financial Statements For the Year Ended 31 March 202 2 Te TE TŌTARAHOE O PAERANGI TRUST GROUP NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022
REPORTANNUALRANGINGĀTI 2021/2022Ā-TAUPŪRONGO 59 21 | P a g e 14. Cash & Cash Equivalents Cash and cash equivalents include the following components: Group 2022 2021 $ $ Bank Accounts 3,561,237 9,025,354 Petty cash 1,573 Term Deposits with maturities of less than 90 days 6,630,734 11,074,687 10,191,971 20,101,614 15. Investments Group 2022 2021 $ $ Current Term deposits maturing within 12 months of balance date 12,006,275 1,377,100 Non Current Investments Puai Tangaroa Limited Partnership 108,277 Puainuku Vines Limited Partnership 387,616 Aspiring Portfolio 248,891 Total Non Current Assets 744,784 12,751,059 1,377,100 16. Puai Tangaroa Limited Partnership Group 2022 2021 $ $ Opening Balance Capital Contributions 108,442 Partnership Gain/ (Loss) (165) Total Receivables 108,277During the current financial year, Te Kūmete o Paerangi LP committed a total of $250,000 to Pūai Tangaroa LP, in exchange for 4.17% of the Limited Partnership The total asset recognised in the current year relates to the initial capital investment contributed by Te Kūmete o Paerangi LP for the purchase of 2.14 tonne of kōura quota, plus any undistrib uted income owed. Te Tōtarahoe o Paerangi Trust Group Notes to the Financial Statements For the Year Ended 31 March 202 2 TE TŌTARAHOE O PAERANGI TRUST GROUP NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022
Financial
18. Aspiring Portfolio Group 2022 2021 $ $ Opening Balance Capital Contributions 250,000 Partnership Gain/ (Loss) (1,109)
Ended 31 March
17. Puainuku Vines Limited Partnership Group 2022 2021 $ $ Opening Balance 385,302 Capital Contributions 14,836 Partnership Gain/ (Loss) (12,522)
During the FY22 financial year, Te Kūmete o Paerangi LP committed a total of $750,000 to Pūainuku Vines LP, in exchange for 3.26% of the Limited Partnership. The total asset recognised in the current year relates to the initial capital investment contributed by Te Kūmete o Paerangi LP plus net of any undistributed income owed.
Total Receivables 248,891
During the current year, Te Kūmete o Paerangi LP committed a total of $2,000,000 for investment in a number of specialised managed funds. The total asset recognised in the current year relates to the initial capital investment contributed by Te Kūmete o Pa erangi LP plus any portfolio Gain/(Loss).
Te Tōtarahoe
RANGINGĀTIANNUALREPORT 2021/2022Ā-TAUPŪRONGO 60 22 | P a g e
19. New Zealand Carbon Credits Group 2022 2021 $ $ Opening RevaluationBalanceduring the year 12,094,892 Total Receivables 12,094,892
Total Receivables 387,616
2 TE TŌTARAHOE O PAERANGI TRUST GROUP NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022
On the 20 November 2020 the Crown transferred 159,353 Carbon Credits to Te Tōtarahoe o Paerangi Trust at a fair value of $35.12 per unit. This was subsequently recognised at a nominal value of $0.00 in Te Tōtarahoe o Paerangi Trust. During the 2022 Financial Year Te Tōtarahoe o Paerangi Trust transferred 159,353 Carbon Credits at a nomina l value of $0.00 to Te Kūmete o Paerangi Limited Partnership. The NZUs have been recorded at the market value of $75.90 per unit as at 31st March 2022. o Paerangi Trust Group to the Statements the Year 202
For
Notes
REPORTANNUALRANGINGĀTI 2021/2022Ā-TAUPŪRONGO 61 23 | P a g e 20. Receivables & Accrued Income Group 2022 2021 $ $ Trade Receivables Trade receivables from non exchange transactions 3,461 33,941 Trade receivables from exchange transactions 629,615 631,119 Total Receivables 633,076 665,061 Impairment allowance on trade receivables from exchange transactions There has been no Impairment allowance made. 21. Investment Property Group 2022 2021 $ $ Balance at the beginning of the year 8,427,817 8,427,817 Fair valuation movement 2,556,184 Capitalised costs in relation to Investment Properties 66,651 11,050,651 8,427,817 Investment properties is represented by the following: Group 2022 2021 $ $ Part Karioi Forest Forest 10,420,000 8,181,000 Ohakune Police Station Land 300,000 173,065 Waiouru Police Station Land 264,000 73,752 Deferred Settlement Portfolio 61,822 NZDF Project 4,829 11,050,651 8,427,817 The fair value on the Karioi Forest as at 31 March 2022 has been arrived at on the basis of an independent valuation carried out by Telfer Young. The valuers have appropriate qualifications and recent experience in the valuation of forestry in the area. Valuations were carried out for financial reporting purposes. The fair value of the Karioi Forest was determined based on: Market Capitalisation 4% yield This approach is the most widely used industry approach and is particularly useful on properties with u neven income streams from multiple tenants as is often the case with commercial and industrial properties. Te Tōtarahoe o Paerangi Trust Group Notes to the Financial Statements For the Year Ended 31 March 202 2 TE TŌTARAHOE O PAERANGI TRUST GROUP NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022
RANGINGĀTIANNUALREPORT 2021/2022Ā-TAUPŪRONGO 62 24 | P a g e The fair value on the Ohakune Police Station and the Waiouru Police Station as at 31 March 2022 has been arrived at on the basis of an independent valuation carried out by Morgans Property Advisors. The valuers have appropriate qualifications and recent experience in the valuation of properties in the area. Valuations were carried out for financial reporting purposes. The fair value of the Ohakune Po lice Station and the Waiouru Police Station was determined based on: Market Comparison This approach is an estimate of value based on a comparison of the asset to similar assets that have recently sold. Adjustments are made to allow for factors such as the date of sale, size of property, location, quality, condition, mark etability, general condition plus access, contour and tenure. 22. Trade and Other Payables Group 2022 2021 $ $ Trade Payables Trade and Other Creditors 254,963 301,564 Income in Advance 1,798,134 1,157,305 Total Payables 2,053,097 1,458,869 23. Employee Entitlement Group 2022 2021 $ $ Annual Leave 150,489 105,555 150,489 105,555 Te Tōtarahoe o Paerangi Trust Group Notes to the Financial Statements For the Year Ended 31 March 202 2 TE TŌTARAHOE O PAERANGI TRUST GROUP NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022
REPORTANNUALRANGINGĀTI 2021/2022Ā-TAUPŪRONGO 63 25 | P a g e 24. Property, Plant & Equipment Group 2022 Equipment<$500 Furniture&Fittings LeasedAssets ImprovementsLeasehold VehicleMotor EquipmentOffice Plant Equipment& TeTataPae EquipmentComputer Total $ $ $ $ $ $ $ $ $ $ Carrying amount 1 April 2021 7 18,358 41,232 26,956 287,502 47,703 102,195 201,059 1,807 726,819 Additions 62,833 120,536 2,675 186,043 Disposals 6 272 1,124 924 968 3,295 Depreciation 2 3,256 13,564 1,959 57,493 37,674 59,570 13,054 1,615 183,186 Carrying amount 31 March 2022 - 14,830 27,668 24,998 230,009 76,737 162,237 187,037 2,866 726,381 Group 2021 Equipment<$500 Furniture&Fittings LeasedAssets ImprovementsLeasehold VehicleMotor EquipmentOffice Plant Equipment& TeTataPae EquipmentComputer Total $ $ $ $ $ $ $ $ $ $ Carrying amount 1 April 2020 23 16,964 6,337 19,548 83,117 52,566 17,363 220,329 416,246 Additions 5,578 40,990 9,407 245,355 29,262 96,134 2,282 429,008 DepreciationDisposals 16 4,184 6,095 1,999 40,970 34,125 11,302 19,269 475 118,435 Carrying amount 31 March 2021 7 18,358 41,232 26,956 287,502 47,703 102,195 201,059 1,807 726,819 Te Tōtarahoe o Paerangi Trust Group Notes to the Financial Statements For the Year Ended 31 March 202 2 TE TŌTARAHOE O PAERANGI TRUST GROUP NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022
RANGINGĀTIANNUALREPORT 2021/2022Ā-TAUPŪRONGO 64 26 | P a g e 25. Taxation The income tax expense for the year can be reconciled to the accounting profit as follows: Group 2022 2021 $ $ Accounting Profit/(Loss) 15,216,708 1,762,148 Tax Losses Utilised (120,906) Less: Non Taxable Income (15,203,679) (1.673,902) Add: Non Deductible Items 104,395 23,148 Add: Prior period adjustment Non Deductible Items 155,172 Net Taxable Income 117,424 145,660 Tax Expense 20,549 33,547 Prior period adjustment relates to an adjustment made in the 202 1 tax return to recognise non deductible costs recorded as deductible in the 2021 financial year. This resulted in there being a tax expenses of $33,547 in the 2021 financial year compared to no tax expense. Income Tax Losses Tax losses are made up as follows : Group 2022 2021 $ $ Tax Loss opening balance 1,258,289 Tax Losses utilised (1,137,382) Prior Period Adjustment (120,907) Closing Tax Losses to Carry Forward -Te Tōtarahoe o Paerangi Trust Group Notes to the Financial Statements For the Year Ended 31 March 202 2 TE TŌTARAHOE O PAERANGI TRUST GROUP NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022
REPORTANNUALRANGINGĀTI 2021/2022Ā-TAUPŪRONGO 65 27 | Page Group 2022 2021 $ $ Opening Balance 113,536 8,336 RWT Paid 25,148 133,746 Tax Paid (6,453) 1,730 Provisional Tax Payments 14,600 3,275 Penalties and Interest (4) Taxation refund received (121,687) Tax expenses for the year (20,549) (33,547) Closing Tax Receivable (Payable) 4,595 113,536 Māori Authority Credit Account (MACA) Group 2022 2021 $ $ Opening Balance 94,534 Tax Paid Tax Refund (82,472) RWT received 25,148 94,534 Credits attached to distribution Closing Māori Authority Credit Account (MACA) 37,210 94,534 26. Finance Lease Liability The Trust has entered into a finance lease agreement for a photocopier. Group 2022 2021 $ $ No later than one year Photocopier Leases 15,713 15,713 Total Finance Lease - Current Portion 15,713 15,713 Te Tōtarahoe o Paerangi Trust Group Notes to the Financial Statements For the Year Ended 31 March 202 2 TE TŌTARAHOE O PAERANGI TRUST GROUP NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022
RANGINGĀTIANNUALREPORT 2021/2022Ā-TAUPŪRONGO 66 28 | P a g e Later than one year and no later than five years Photocopier Leases 14,403 30,116 Total Finance Lease - Non-Current Portion 14,403 30,116 27. Related Party Transactions The aggregate remuneration of trustees and senior management personnel and the number of senior management personnel, determined on a full time equivalent basis, receiving remuneration is as follows: Group 2022 2021 $ $ Total Trustee Remuneration 128,506 144,786 Total Director Remuneration 53,372 48,134 Total key management personnel remuneration 1,118,760 724,453 Number of persons (full time equivalents) 11.0 10.0 28. Categories of financial assets and liabilities Group 2022 2021 $ $ Financial assets Financial assets at fair value through surplus or deficit Investments Loans and receivables Cash and cash equivalents 10,191,971 20,101,614 Short term investments 12,006,275 1,377,100 Receivables from non exchange transactions 3,461 33,941 Receivables from exchange transactions 629,615 631,119 Inventory 1,939 1,985 GST Refund 160,534 Tax Asset 4,595 113,536 22,837,856 22,419,829 Te Tōtarahoe o Paerangi Trust Group Notes to the Financial Statements For the Year Ended 31 March 202 2 TE TŌTARAHOE O PAERANGI TRUST GROUP NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022
In December 2019, a new virus, COVID 19, was detected in Wuhan, China. The virus was soon common in other countries and on 11 March 2020 the World Health Organisation declared that the outbreak should be considered a pandemic. The result of this pandemic h as been a substantial reduction in economic activity throughout the world, as governments have introduced measures (such as closure of national borders, the closure of non essential businesses, the cancellation of public events and the imposition of restri ctions on individuals) in an attempt to reduce transmission of the virus.
In late March 2020, the New Zealand Government ordered a four week lockdown, during which non essential businesses and organisations were not allowed to operate and individuals (othe r than essential workers or those undertaking essential business) were required to stay at home. Domestic restrictions were reintroduced to combat the Delta outbreak and later modified to combat the Omicron outbreak and promote nationwide vaccination efforts. After year end, and at the date of signing these financial statements, the current COVID 19 restrictions in place have been document at https://covid19.govt .
Te Tōtarahoe o Paerangi Trust Group Notes to the Financial Statements For the Year Ended 31 March 202 1 Te Tōtarahoe TE TŌTARAHOE O PAERANGI TRUST GROUP NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 32. Events
REPORTANNUALRANGINGĀTI 2021/2022Ā-TAUPŪRONGO 67 29 | P a g e Financial liabilities At amortised cost Trade and other creditors 254,963 301,564 Employee entitlements 150,489 105,555 Income in Advance 1,798,134 1,157,305 Finance Lease 30,116 45,829 GST Payable 60,490 2,294,192 1,610,253 29. Capital commitments There are no known capital commitments as at balance date (20 21: $nil) 30. Contingent assets and liabilities There are no known contingent assets or liabilities as at balance date (2021: $nil) 31. COVID-19
There are no events subsequent to balance date.
Te Tōtarahoe o Paerangi Trust Group Notes to the Financial Statements For the Year Ended 31 March 202 2
balance date
During the initial four week lockdown period, and under subsequent levels of restrictions, the Group was able to operate and experienced little financial impact as a result of the disruption caused by the COVID 19 pandemic. At the time of signing these financial statements the various restrictions in place have not had an impact on the Trust’s revenue. The Trustees have concluded that the Group will be able to continue operation for at least 12 months from the dat e of signing these financial statements. This conclusion has been reached because the Group has sufficient assets and income to maintain current expenditure. Subsequent to
We conducted our audit in accordance with International Standards on Auditing (New Zealand) (ISAs (NZ)). Our responsibilities under those standards are further described in the Auditor’s Responsibilities for the Audit of the Consolidated Financial Statements section of our report. We are independent of the Group in accordance with Professional and Ethical Standard 1 (Revised) Code of Ethics for Assurance Practitioners issued by the New Zealand Auditing and Assurance Standards Board, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Other than in our capacity as auditor we have no relationship with, or interests in, the Trust or any of its subsidiaries. Other information
In our opinion, the accompanying consolidated financial statements present fairly, in all material respects, the consolidated financial position of the Group as at 31 March 2022, and its consolidated financial performance and its consolidated cash flows for the year then ended in accordance with Public Benefit Entity Standards Reduced Disclosure Regime issued by the New Zealand Accounting Standards Board.
RANGINGĀTIANNUALREPORT 2021/2022Ā-TAUPŪRONGO 68 INDEPENDENT AUDITORS REPORT
To the Trustees of the Te Tōtarahoe o Paerangi Trust Group Report on the Audit of the Consolidated Financial Statements Opinion
We have audited the consolidated financial statements of the Te Tōtarahoe o Paerangi Trust Group and its subsidiaries (the Group) on pages 5 to 30, which comprise the consolidated statement of financial position as at 31 March 2022, and the consolidated and the statement of comprehensive revenue and expense, consolidated statement of changes in net assets/equity and consolidated statement of cash flows for the year then ended, and notes to the financial statements, including a summary of significant accounting policies.
The Trustees are responsible on behalf of the Group for the other information. The other information comprises the Trust Directory but does not include the financial statements and our auditor’s report
Ourthereon.opinion on the consolidated financial statements does not cover the other information and we do not express any form of assurance conclusion thereon.
Basis for Opinion
2 42 to 67,
In connection with our audit of the consolidated financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If based, on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.
Trustees Responsibilities for the Financial Statements
http://www.xrb.govt.nz/standards
REPORTANNUALRANGINGĀTI 2021/2022Ā-TAUPŪRONGO 69
15
The directors are responsible on behalf of the Group for the preparation and fair presentation of the consolidated financial statements in accordance with Public Benefit Entity Standards Reduce Disclosure Regime, and for such internal control as the directors determine is necessary to enable the preparation of consolidated financial statements that are free from material misstatement, whether due to fraud or error. In preparing the consolidated financial statements, the directors are responsible on behalf of the Group for assessing the Group’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the Group or to cease operations, or have no realistic alternative but to do so.
Auditors Responsibilities for the Audit of the Financial Statements
A detailed description of the auditors’ responsibilities including those related to assessment of risk of material misstatement, evaluation of appropriateness of going concern assumptions and determining key audit matters are available on the external reporting board website: for assurance practitioners/auditors responsibilities/audit report 7/
This report is made solely to the Trustees, as a body, in accordance with The Trust Deed. Our audit work has been undertaken so that we might state to the Trustees those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Trustees as a body, for our audit work, for this report, or for the opinions we have formed.
Cameron Town Silks Audit Chartered Accountants Ltd Whanganui, New Zealand Date: August 2022 -3-
Restriction on Distribution or Use
Our objectives are to obtain reasonable assurance about whether the consolidated financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (NZ) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these consolidated financial statements.
RANGINGĀTIANNUALREPORT 2021/2022Ā-TAUPŪRONGO 70 NOTES
REPORTANNUALRANGINGĀTI 2021/2022Ā-TAUPŪRONGO 71 NOTES
NGĀTI RANGI ANNUAL REPORT PŪRONGO Ā-TAU 2018/201972 Ngāti Rangi Group 1 Mountain Road, Ohakune 0800 NRANGI or 06 385 9500 ngatirangi.com
