18.7 Power Chill NZ Limited Power Chill NZ Limited undertakes work for Te Wänanga o Aotearoa and MO1 Limited. Kingi Wetere has a significant ownership interest in Power Chill NZ Limited. Kingi Wetere is also a director of this company. Kingi Wetere has no influence over any dealings that Te Wänanga o Aotearoa has with Power Chill NZ Limited. Any dealings with Power Chill NZ Limited by MO1 Limited are approved by Board Members. During 2007 $45,901 was paid to Power Chill for work undertaken. (2006 - not a related party). There were no outstanding balances at balance sheet date.
18.8 MO1 Limited MO1 Limited is a wholly owned subsidiary of Te Wänanga o Aotearoa. The Board of MO1 Limited is appointed by the Council of Te Wänanga o Aotearoa. MO1 Limited provides educational services for Te Wänanga o Aotearoa and Te Wänanga o Aotearoa is part of the MO1 Limited provider network. During 2007 MO1 invoiced Te Wänanga o Aotearoa $21,816,415 for these services and MO1 Limited paid Te Wänanga o Aotearoa $2,054,898. During 2006, MO1 Limited invoiced Te Wänanga o Aotearoa $22,805,890 for these services and MO1 Limited paid Te Wänanga o Aotearoa $1,963,227. At balance sheet date Te Wänanga o Aotearoa had an outstanding balance due to MO1 Limited of $22,847,992 (2006 - $19,084,679) and a balance due from MO1 Limited of $6,067. (2006 - $25,826)
18.9 Tainui Group Holdings Hinerangi Raumati is the Chief Financial Officer for Tainui Group Holdings and is a member of the Audit and Risk Management Committee of Te Wänanga o Aotearoa. Te Wänanga o Aotearoa is a tenant of Tobin Street, Pukekohe, premises owned by Tainui Group Holdings. In 2006 Te Wänanga o Aotearoa were also renting a property at Sloane Street, Te Awamutu. Te Wänanga o Aotearoa paid rent for this property to Tainui Group Holdings of $14,563. (2006 - $155,112). There were no outstanding balances as at 31st December, 2007.
18.10 Tainui Corporation Ltd Hinerangi Raumati is the Chief Financial Officer for Tainui Group Holdings and is a member of the Audit and Risk Management Committee of Te Wänanga o Aotearoa. Tainui Corporation Ltd is a wholly owned subsidiary of Tainui Group Holdings. In 2007 Te Wänanga o Aotearoa paid Tainui Corporation Ltd $7,395 in respect of operating expenses for Tobin Street, Pukekohe. (2006 - $16,998) There were no outstanding balances as at balance sheet date.
18.11 Raukura Moana Fisheries Ltd Richard Batley was the Chief Executive Officer of Raukura Moana Fisheries during 2007 and was a member of Council of Te Wänanga o Aotearoa. As part of his agreement as Council member, Te Wänanga o Aotearoa pays a reimbursement of $213 a month for cellphone charges. This amounted to $3,493 in 2007. (2006 - NIL) The company was officially wound up in 2008 and will no longer be a related party. There were no outstanding balances as at balance sheet date.
18.12 Gallery 8 Ltd Marie Panapa is a member of Council of Te Wänanga o Aotearoa and is also a shareholder in Gallery 8 Ltd, an art gallery established to promote local art. In 2007 Te Wänanga o Aotearoa bought artwork as gifts which amounted to $285. (2006 - $nil) There were no outstanding balances as at balance sheet date. 60 - Notes to the Financial Statements