New TE PŪRONGO Ā-TAU A HINEURU IWI TRUST · 2020. 3. 4. · iwi register and census data from...
Transcript of New TE PŪRONGO Ā-TAU A HINEURU IWI TRUST · 2020. 3. 4. · iwi register and census data from...
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TE PŪRONGO Ā-TAU A
HINEURU IWI TRUST
ANNUAL REPORT
2019
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ANNUAL GENERAL MEETING
Time 12:00pm
Date 30 November 2019
Venue TeHārotoMarae,TeHāroto
AGENDA
1. Apologies
2. WelcomeandopeningaddressbyChair
3. Apologies
4. PresentationofAnnualReport
5. CommercialReport
6. FinancialStatements
7. AppointmentofAuditor
8. GeneralBusiness
9. CloseofMeeting
Ka tipu, Ka ora, Ka rea. We grow, We thrive, We prosper.
OUR VISION
HINEURU IWI TRUST | ANNUAL REPORT 2019
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Kia rangatira ai te iwi
Rejuvenate our Hineuru people
OUR MISSION
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CONTENTS
HineuruIwiTrustAGM 2
OurVision 2
OurMission 4
Chairman’sReport 6
ChiefExecutive’sReport 8
TeTaiao–Environment 9
TeAhurea–HineuruSocialand CulturalDevelopment 12
TePakihi–CommercialDevelopment 14
FocusAreas2019 18
Schedule1– DetailsofHineuruAnnualReport 21
HineuruIwiTrust 21
TrusteeRemuneration 21
ConstitutionalAmendments 21
Schedule2– AnnualBusinessPlanSummary2018-2019 25
1.Introduction 25
2.ProposedActivitiesandPriorities 25
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TE TAIAO – ENVIRONMENT
HINEURU IWI TRUST | ANNUAL REPORT 2019
Duringthisperiod,wehavecontinuedtobuildonthefoundationsofouriwistructurewhiledeliveringthesocial,culturalandcommercialaspirationsofourwhānau.AsnotedinourpreviousAnnualReport,wehavedesignedannualplansforthenexttwoyearswhichhasbeeninformedbytheviewsofrangatahiandwhānauduringtheratificationofourTreatysettlement.
IthasbeenalongandcontinuingjourneywhichhasnotbeenpossiblewithoutthesupportIhavereceivedamongstHineuru,fromourTreatysettlementinthebeginning,toWaitangiTribunalproceedingstosettlementnegotiationsandalsointhepost-settlementspace.Thankyouall.
ThisAnnualReportisforthe12-monthperiodfrom1July2018to1June2019.Iwanttosharesomeofthehighlightsofthepastyearbelow.
Development opportunities - joint venture with Cherri Global LimitedOneofthekeymilestonesoverthepastyearwasbuildingacommercialfoundationandleveragingourassetstocreateinternationalexport
opportunitiesforourpeople.Wehavemadeourlargestinvestmentthisyear,valuedover$9.3million,withthepurchaseofthreecherryorchardsintheHawkesBayregion.
WehaveenteredintoajointventurewithCherriGlobalLimited(foundedbythefounderofRockitApple,PhilAlison)togrow,harvest,packageandmarketourHineurucherriesoverseas.Wehavealso,throughourWorkforceTrainingandDevelopmentProgramme,beenabletoutiliseourownHineurumemberstoworkonourlandblock.WeareprogressingaProvincialGrowthFundapplicationtohelpustofundthedevelopmentofthelandblock.
Diversification - Forest Planting at Hineuru StationWehavecompletedtheplantingofaninitial100-hectareforestatHineuruStation,withourpartnersandforestmanagers,PFOlsen.Thishasbeeninanefforttodiversifyourpropertyassetbaseandtoensurethatwehavemultipleincomestreamsacrossourphysicalassets.Weexpectfurtherdiversificationtocontinue.
CHAIRMAN’S REPORT
Ko Titiokura te maungaKo Mohaka te awaKo Mataatua te wakaKo Te Haroto te MaraeKo Hineuru te iwiTēnā tātou te iwi o Hineuru!
I am delighted to present the fourth Annual Report for Hineuru Iwi Trust. It has been a busy and productive year for Hineuru over the past 12 months. This Annual Report sets out the progress we have made as an iwi over the past financial year.
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Tackling Hard Issues - Te Ākinga Ture: Wills and Testaments ProgrammeWealsolaunched‘TeĀkingaTure’,awillsandtestamentsprogrammeundertakeninpartnershipwiththeHawkesBayCommunityLawCentreandMorrisonKent.AspartoftheprogrammewedraftedwillsandtestamentsforourHineurukaumātuaorkuiafreeofcharge.Theytoldustheydonotwanttoleaveawhawhaifortheirwhānauwhentheypassaway. WewillbecontinuingthisprogrammenextyearwithAutomio,anautomatedwills,testamentsandpowersofattorneyservicethatwillbeavailabletoallofouriwimembers.
Employment & Supporting Young People - Hineuru Workforce ProgrammeOurrangatahiareourfuture.Oursocialindicatorsreporttoldusthatourrangatahimakeupthemostofouriwiwithover50%ofouriwiunder30yearsofage.Wehaveayouthfuliwiandourfocusmustbeonsupportingthemaswellasourpeoplenow.Partofthisistotargetscholarshipstoouryoungpeople.Ourscholarshipshavebeenupandrunningseveralyearsnowandarefullysubscribed. Partofthisisalsotolookforemploymentopportunitiesforfutureskills,training&development.Wehavesoughttoidentify&placeourHineuruinworktomanageourownassetsthroughourHineuruWorkforceProgramme.ThishasincludedtheidentificationofmanyindividualswhoareactivelyseekingemploymentorarecurrentlyreceivingsupportfromWorkandIncomebutwanttoexpandtheirskills.
Wānanga Reo and TikangaWehavehadseveralwānangareotosupporttheculturaldevelopmentofouriwi.Wehavebeenveryencouragedbythelevelofuptakeandtherealinterestshownparticularlybyouryoungpeople.WānangahavebeenpartofourHineuruReoStrategyandwehavebeenworkinghardtoprogressourculturalaspirationsandplan.WehavealsohadtheHineuruLeadershipSummitinJanuary,whichhasbeendirectedatouryoungpeopleandtheirleadershipdevelopmentpotential.Weareveryproudofallofthemandareveryhopefulforthefutureofouriwi.
IwishtotakethistimetothankourTrusteesfortheirhardworkandcontinuedsupport.Wearestillfindingourway.Thechallengeswefaceareonlyovercomebyusworkingprogressivelytogether.ThankyoutoallofourkaimahiandthosewhohavebeenworkingtirelesslybehindthescenesforHineuru.ThankyoutoTaiAhuwhohasworkedoverandaboveonmanyoccasionstoensurethemahiiscompleted.
MaiHineuru,mōHineuru
TuhuiaoKahukiwa
Chairman
“We have had several wānanga reo to support the cultural development of our
iwi. We have been very encouraged by the level of uptake and the real interest shown
particularly by our young people.”
ForestplantingonHineuruStationinSeptember2019
ForestplantingonHineuruStationinSeptember2019
ThesingingattheexecutionceremonyforTeĀkingaTure
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TE TAIAO – ENVIRONMENT
Fromeconomicandcommercialdevelopmentinhorticulture,forestry,commercialproperty,torestoringtheenvironmentandtacklingsomeimportantsocialandemploymentissuesfacedbyourpeople.
Firstly,IwanttoacknowledgeTuhuiaoKahukiwa,whoseleadershipandvisionforHineuruhasbeencriticalandremainsacorepartofeverythingwedo.Eterangatira,tēnākoe. Secondly,IwanttothankourInvestmentCommittee,inparticularTraciHoupapaandCraigBarrett,for
theircontinuedsupportofourcollectiveaspiration.Finally,tothetrustees–thankyouforyourtrustandconfidence.
Wesetaveryambitiousstrategicdocumentwithfive-yearoutcomesthatrequiredalotofworkandeffort.InFebruary2017ourtrusteesapprovedtheAnnualPlanfortheyearandtheassociatedbudgetssothatwehadaclearvisionandclearviewonwherewearegoingandhowwewillachievetheoutcomesnecessarytokeepHineurumovingforward.
CHIEF EXECUTIVE’S REPORT
Tēnā tātou katoa, Tenei te mihi ki a tātou katoa e whāiti nei ki runga i te karanga o te iwi o Hineuru. This is my second and final Annual Report for Hineuru. In my finishing the role as Chief Executive, I am extremely proud of everything Hineuru has achieved over the past year, and indeed over the past 3 years since we received our Treaty settlement.
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OverthepastyearwehavecontinuedtoprogresstheenvironmentalworkprogrammeforHineuruandbuilduponthevisioninourTreatysettlement.WehavebeenactiveinrepresentingHineuruonvariousforums,includingtheRangitaikiRiverForum,theRegionalPlanningCommittee,andPouTiriaooTane,andalsomanagingourrelationshipswithcentralandlocalgovernmentandstakeholders.
Department of ConservationWehaveheldourinitialplanningmeetingwiththeDepartmentofConservationthisyearunderourKawenata.TheKawenataisanagreementinourTreatysettlement,wherebytheCrown,throughtheDepartmentofConservation,agreedtoactivelyworkinpartnershipwithHineuruoverDepartmentofConservationlandintherohe. OneoftheprinciplesistorecognisethemanaofHineuruandtheirinterestin,andspecialrelationshipwith,conservationland.
DOChasagreedtosupportHineuruwiththeCulturalMaterialsPlan,which
willprovidefortheabilityofwhānau,hapūandiwitoexercisekaitiakitangabysettingoutanagreedprocessfortakingtheplantandmaterialsandplansfromDoCland.
DOChasalsoprovidedfundingtoprogresstheCulturalMaterialsPlanandalsofundingtohelpestablishourHineurunursery.WearealsoprogressingcollatingyourviewsontheConservationManagementStrategywhichisduetobereviewedthisyearandistobereleasedtoiwiforconsideration.
Local GovernmentOurrelationshipswithlocalgovernmentcontinuetodevelopasweworkthroughissuestogether.RecentlywehavebeenprogressingthroughtheRegionalPlanningCommitteeHineuru’sparticipationonPlanChange7:outstandingnaturalwaterbodies.ThisensuresthatinadditiontothewaterbodiesincludedandprotectedaspartofourHineuruDeedofSettlement,thatfurtherriversthatarespirituallyimportanttousareincluded.
TE TAIAO Environment
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Ifourvaluesinrelationtotheseriversareaccepted,thentheconsentingauthoritymusthaveregardtothosevaluesintheirdecisionmaking.Wehavealsofedintothedecision-makingofcouncilsonvariousmattersoverthepastyear.
WehavealsobeenactiveonPouTiriaooTāne,andwereabletohostHineuru’sownHīkoiTūtuki.Thisinvolvedtakingseveralofourkaumātua,kuiaandrangatahiaroundvariousHineuruculturalsites,includingTePūrotu,MōhakaRiver,Titiōkura,WaiparatīandalsoTeHārotoMarae.
Rangitaiki River ForumTheRangitaikiRiverForumwasestablishedbywayoflegislationasaresponsetooursettlementtoensuremanawhenuaco-operationwiththeBayofPlentyRegionalCouncilonthemaintenanceandhealthoftheriver.Thepurposeoftheforumistoprotectthecultural,environmentalandspiritualhealthoftheRangitāikiriverforfuturegenerations.ItincludesrepresentationfromNgātiManawa,NgātiWhare,NgātiTuwharetoa,NgātiAwa,Tūhoeandseveralcouncils.Theforumhasbeenfocusedonvariousissuesthispastyear,includingglasseelresearchalongtheawa,andfloodinganddrainageissuesrelatedtotheKopurikiRoadbridge.
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“Our relationships with local government continue to develop as we work through
issues together.”
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TheexecutionceremonyforTeĀkingaTure
TeĀkingaTure–Hineuru’swills&testamentsprogramme
Intermsofsocialandculturaldevelopment,weareledbythesocialindicatorsreportthatwascommissionedbyHineuruandcompletedbyProfessorTahuKukutaiandDrAramaRataoftheUniversityofWaikato.Thereportusedouriwiregisterandcensusdatafromsimilarandsamesizedhapūandiwigroupingstodetermineourpopulationprojections. ThereportconcludedthatHineuruiwiislikelytodoubleinsizeinthenext20yearsbasedonthecurrentiwiregister.Critically,thereportnotedthatouriwiisayoungiwi,with50%ofouriwimembersbeingundertheageof30yearsold.Belowaresomeoftheinitiativesthathavebeenprogressed.
Te Kāhui Kaumātua o HineuruWeprogressedtheestablishmentoftheKāhuiKaumātuabasedonconsultationwithourkaumātuaandkuiainbothRotoruaandNapier.TheKāhuiKaumātuahashadthreemeetingssofarandtheroleoftheKāhuiKaumātuaisto:
• AdviseonaspectsoftikangaandkawaforHineuru;
• Provideakaumātuaandkuiaperspectiveontheannualplan,5yearplanandfuturestrategyanddirectionofHineuru;
• ProvideadviceonissuesrelatedtoHineuruprojects;
• ParticipateorprovideaviewonwānangaforreoandtikangaforHineuru;
• Makingdecisionsoneligibilityforiwimembership;
• OthermattersasdeterminedbytheTrusteesonacasebycasebasis.
TheKāhuiisacriticalpartofinformingthetrusteesoftikangaandkawa,andinthedevelopmentofHineuru’sannualandstrategicplanning.Kingākuiamengākaumātua,kiaorakoutoukatoa!
Te Akinga TureThisyearwecompletedthefirstphaseofTeĀkingaTure–Hineuru’sLegalEducationProgramme.ThiswascompletedinpartnershipwiththeHawkesBayCommunityLawCentreandMorrisonKent.Wewantedtomakesureourbeneficiariesarelookedafterandourneedsarebeingmet.Notjustoursocial,economicandhealthneeds,butalsoensuringourlegalneedsdonotbecomeabarriertowhānauwellbeing.
WeheldourwānangaforWillsandEstatePlanning–‘Don’tLeaveaFightfortheWhānau’,andsuccessfullydraftedandcompletedseveralwillsforourwhānau.ThisyearwehavealsoengagedAutomio,anautomatedwillsandtestamentsservice,tomakewillsandpowersofattorneyeasilyaccessibletoallofouriwimembersfreeofcharge.
Taiohi Ora – Hineuru Leadership SummitTheTaiohiOraHineuruLeadershipProgrammewasheldinJanuarythisyear.Wewelcomed14rangatahitodeveloptheirownleadershipattributesandskills.Someofthekeyactivitiesandoutcomeswere:
• Teambuilding–whatittakestoleadateam
• Thoughtinnovation• Tikangaandkawa• Communication
TE AHUREA Hineuru Social & Cultural Development
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“Our reo strategy aligns to our vision of Hineuru – ka tipu, ka ora, ka rea. We know that if we grow the language, our tikanga will
thrive and our people will prosper.”
• Skillsinplanningandmanagingprojects
Ourrangatahispendfourdaysgettingtounderstandtikanga,kawaandwhatitmeanstobeHineuru.Activitiesincludedwaterrafting,learningaboutculture,theHineuruStationfarmvisit,swimming,physicalexercise,preparingahangi,harakeke/workingwithflax,tuna/eelcatching,writing,listeningandbeingtogether.
Te Reo Strategy ImplementationWehavealsoprogressedourTeReoMāoriStrategywiththesupportofTeMātāwai,forwhichweareverygrateful.OurreostrategyalignstoourvisionofHineurukatipu,kaora,karea.Weknowthatifwegrowthelanguage,ourtikangawillthriveandourpeoplewillprosper.Thereostrategyidentifieskeycomponentsincludingkaupapatohelpbringtheiwibackincludingwānangaaiwiandotherevents.
Aspartofthisstrategy,wehavecommittedtoaHineurupositiontosupportthereoandculturalaspirationsoftheiwiwhichwillincludesupportingtheredevelopmentofourmarae.WehaveasaresultheldseveralwānangareooverthepastyearwhichhavebeenagreatwayforwhānautolearnabouttheirHineurutanga,whakapapa,kōrerotukuihoandbasicsentencestructures.Theaimsareasfollows:
• IncreasingawarenessbyHineurumembersoftereoMāoriandtikangaattheirmarae
• Developmentandprovisionofiwi-basedresourcesspecifictoHineuruwhānau
• ImprovedabilitytoconverseandunderstandtikangaandtereoMāori
• EncouraginguseofMāoriathigherlevelsofproficiencyamongstiwimembers
WehavealsobegundevelopingtheHineuruReoChampionsProject,whereweareidentifyingwhānauwhoareinterestedinlearningHineurureoanddevelopingresourcesforthemtolearntereoMāorifromtheirhome.ThisisbeingledbyTeRangihauGilbert,ourCultureandEnvironmentManager.
Te Reo Resource DevelopmentOverthepastyearwehaveputalotofeffortintodevelopingasuiteoflanguageandculturalresources.Thishasincludedseveralvideos,completedbyArohaTreacher,profilingourkaumātuaandkuiaandcapturingtheirmātaurangaandkōrero.Thesewillalsobeavailableonourrevampedwebsiteandmembers’database.Wehavealsocompletedourmōteateabook,whichwillbeincludedaspartofourtereoMāorioutputsandprojectsforTeMātāwai.
Marae RedevelopmentThisyearweprogressedindicativeplansfortheredevelopmentofTeHārotoMarae.Thiswasprogressedatahuiā-iwiwhereweinvitedallHineurutoattend,provideinputandfeedbackontheindicativeplans.ThiswasdonewiththeinputandsupportofEzraKellyatDesignGroupStapletonElliot(DGSE),andhisteamofdesignersandarchitects.Weareexcitedtoprogressthisprojectin2020,andwewishtothanktheteamatTePuniKōkiriforprovidingfundingthroughOrangaMaraetoprogressthisworkstream.
TaiohiOraoHineuruLeadershipSummit2019
TaiohiOraoHineuruLeadershipSummit2019
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TE PAKIHI Commercial Development
TheMiroteamattheMeihanaKoatadevelopmentblock
PakuratahiandBayviewcherryorchardblocks
The Investment CommitteeOurinvestmentportfolio,ledbytheChairofourInvestmentCommitteeTraciHoupapa,andwiththesupportandcontributionofCraigBarrettandTirohiaBridger,hasperformedstronglyoverthepastfinancialyear.
TheHineuruInvestmentPlanisalignedtothestrategicvisionofHineuru;katipu,kaora,karea–wegrow,wethriveandweprosper.Ourstrategyhasbeencategorisedintothreeassetclasses–katipuassets,kaoraassetsandkareaassets.
The‘katipu’assetsarethosecategorisedasassetsthatprovideayearonyearreturnandsupporttheoperations.‘Kaora’assetsaremid-terminvestmentsandopportunitiesthatprovidereturnsandcapitalin12-18months.‘Karea’assetsarelongerterminvestmentsthatprovidereturnsovera3to5yearperiod.Thefocusforusistomakeinvestmentsineachofthecategoriesandworktogrowandsupportreturnsfromeachassetclass.
Weareactiveinvestorsthatlookforopportunities.Wealsohaveadiversifiedassetbasewithinvestmentsindrystockfarming,forestry,freshwaterkoura,commercialproperty,highvaluehorticulture,landandmanagedfunds.Wediscussthehighlightsofthepastyearinmoredetailbelow.
High Value HorticultureThisyearwemadeoursinglebiggestinvestmentacrossourcommercialportfolio.WepurchasedthreeblockswithintheHawkesBayRegion.TheBayviewandDartmoorblocksare
subjecttobuybackbyCherriGlobalLimitedinfiveyears’time.However,aspartofnegotiationswesecuredtheoutrightpurchaseofWaverleyforaHineuruspecificorcharddevelopment.
WehavealsoprogressedamorestrategicrelationshipwithMiro,acollectiveinvolvingMāoriaroundthecountrytodevelophomegrown,highvaluehorticultureforoverseasexport.Theproduceincludesblueberriesandotherhighvaluecrops.Oneofourdirectors,CraigBarrett,wasrecentlyappointedtotheBoardofMiro.
ForestryWehavealsorecentlycompletedthefirststageofourforestryplantingonHineuruStation,thefarmlandwereceivedaspartofourTreatysettlement.Duringthisfirststageweplantedjustunder100hectaresofforest,whichtookapproximatelytwoweekstocomplete.ThiswasdoneinpartnershipwithPFOlsen,ourForestManagers,whoorganisedourplanterstoundertaketheplantingbeforetheendoftheseason.Wearenowintheprocessofassessingthefurtherplantingareafornextyeartoachievetherightbalancebetweenfarmingdrystockandplantingouttheunproductiveorunderperformingmarginalareasofthefarmland.
AlsointermsofforestrywehavesoughttendersinrelationtothemanagementofEskForest,totallingseveralthousandsofhectares,whichwereceivedunderourTreatysettlement.Ultimately,ourpeoplewantustoownandmanageourassetsratherthanbepassiverecipientsoflandrental.
TreeplantingceremonyatWaverleyorchard
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“We are active investors that look for opportunities. We also have a diversified
asset base with investments in dry stock farming, forestry, freshwater
koura, commercial property, high value horticulture, land and managed funds. ”
ForestplantingatHineuruStationinSeptember2019
ForestplantingatHineuruStationinSeptember2019
Hineuru Cherry Land Development Project and Joint VentureWehavepartneredinthedevelopmentwithCherriGlobalLimited(CGL),aninternationalexporterofpremiumcherries.Wehavesinceundertakenfeasibilitystudiesontheremaining14hectaresoflandandhavedecidedtoproceedwithdevelopingcherryorchardsonthisland.
You can read more about this investment on page 17.
PropertyWehavecontinuedtogrowourpropertyportfolioasHineuru.ThisyearwebecameownersinacommercialpremisesinPalmerstonNorthwithFMG,along-termtenant.Thecapitalgainonthepropertyhasincreasedoverthepastyearto$22.5million. Thisinvestmentgivesusregularreturnsandcashflowthatweneedtofundouroperations,themainlong-termeconomicgainbeingtheupliftincapitalvalue.
WehavealsoinvestedinhousingdevelopmentsinHamiltonthroughapartnershipwithObsidianTahiwhichisbeingprogressedatthemoment.
Other Investments: Paua and Freshwater KouraOverthepastyearwehavecontinuedtoprogressasinvestorsinpāuaoperationsandfreshwaterkoura.Wehaveachievedourresourceconsentforthediggingofupto300kourapondsonourfarm.Wehavenearlyobtainedourfishfarmlicencewhich,oncegranted,willbethefirstfishfarmlicenceforkouraintheNorthIsland.
WehavepartneredstrategicallywithJohnHollowsfromErnslaw,theleadingNewZealandexpertonfreshwaterkouratoensurethatourfreshwaterkouraoperationissuccessful.
Wearealsoassistinginthedevelopmentofanindustrybodyforfreshwaterkourato:
• increaseawarenessandunderstandingoftheopportunitiesforfreshwaterkouraasa‘fledgling’industry;
• establishdomesticandoverseasmarketsforthedistributionandsaleofpremium,highqualityfreshwaterkoura;
• undertakeorcommissionresearchtounderstandtheconditionswhichenablefreshwaterkouratothrive;
• toprovideinputinregulatoryactivitiesthataffectthefreshwaterkouraindustry,includingactivitiesandpoliciesdevelopedbytheDepartmentofConservationandtheMinistryforPrimaryIndustries;
• createlong-termpartnershipswithMāoriandnon-Māorilandownerstoencourageuptakeinfreshwaterkouraactivities;
Finally,wesetoutinthefollowingpages,the2018-19annualplanningmilestonesforHineuruIwiTrustandhowwehaveperformedagainstthosetargets.
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ASSET VALUE (approx)
FarmHineuruStationPukenuiStationLivestockFarmingAssets
$8million$2.765million$1.763million$0.321million
ForestryHineuruForest(treecrop)CarbonCredits
$6.467million$1.487million
Forest LandHineuruForest(land)EskForest
$1.376million$7.085million
Horticulture LandWaverleyBlockPakuratahi/BayviewblockDartmoorblock
$3.2million$1.55million$4.55million
CashCraigsInvestmentsWestpacTermDeposit
$12.137million$3.911million
Equity InvestmentsPauaco–ApauacompanyinSouthIslandandAustraliaMiro–AMāoriblueberrycollectiveFMG–Acommercialpremises
$1million$0.16million$3.818million
LoansLoan–PauacoEneform–AcleanenergycompanythatturnswastetyresintobiodieselFMGObsidian–Residentialhousingdevelopment
$1.96million$0.5million$2million$2.83million
ReceivablesTradeandotherreceivables $0.90million
WHAT MAKES UP OUR SETTLEMENT ASSETS?
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Aninvestmentintocherrieswaschosenforanumberofreasons,including:
• Consistency with Hineuru’s investment strategy.HighvaluehorticultureisakeypartofHineuru’sinvestmentportfolioanddevelopmentstrategy;
• Existing water consents.Thelandalreadyhaswaterconsentsinplacetogrowcherries;
• Industry expertise.CGLhasagreedtopartnerwiththeHineurufortheDevelopment.CGLareexpertsintheNewZealandcherryindustryandownanumberofsuccessfulcherrydevelopments;
• Financial return.FeasibilitystudiessuggestthatcherrieswillprovidestrongfinancialreturnstotheHineuru.ThecherryindustryhasbeenidentifiedasanewgrowthindustryinNewZealand;and
• Employment opportunities.ThedevelopmentwillprovideemploymentopportunitiesforHineuruMembers.
How will Hineuru partner with Cherri Global Limited?HineuruandCGLwillenterintoajointventurearrangementtoensuretheprojectprogressesinatimelywayandtherequireddeliveryexpertiseisretained.Thejointventurewillnotowntheland,thelandwillbeownedbyHineuru,howeverthejointventurewillenableashareofprofitbetweenHineuruandCGL.
How will the development be funded?ThelandpurchaseandfeasibilitystudieshavealreadybeenfundedbyHineuruandtheTrustmayneedtoprovidefurtherfundingfortheDevelopment.HineuruhasalsorecentlymadeanapplicationtotheProvincialGrowthFund(PGF)forthedevelopment.
ThefundingfromthePGFwilllikelybeintheformofaloan(althoughsomemaybefundedbywayofagrant)andisconsidereda‘WhenuaMāori’applicationgiventhelandisownedbytheTrust.
ThePGFapplicationrequiressupportfromlandowners,beingthebeneficiariesofHineuru.ThepurposeofthisinformationsheetistoprovideinformationtoHineurumembersabouttheproject,butalsotoseekapprovalforthePGFapplication.
What are the employment opportunities for Hineuru Members?ItisexpectedthattheDevelopmentwillrequirearoundfivefulltimeemployeesinthefirst3-4years,withthisclimbingsteadilytoatotalof26employeesin2028–2029.AspartofourHineuruWorkforceandTrainingDevelopmentprogramme,wehavealreadyemployedthreeofourownpeopleontheblock.
ThedevelopmentwilllooktoemployHineurumemberswhereverpossibleandHineuruwillalsolooktoassistwithtraininganddevelopmentopportunitiesthroughtheHineuruTrainingandDevelopmentProgramme.
Next stepsHineuru,togetherwithCGLhopethatthedevelopmentisoperationalfrom2020,withworkbeingundertakenonthelandinpreparationforthis.HineuruwillnotifyHineurumembersofanysuccessfulPGFapplicationandcontinuetonotifyanyemploymentortrainingopportunities.
Why Cherries?Information on our proposed investment into the Cherry Industry
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ACTION STATUS
Complete12monthAnnualPlanfor2018-19 COMPLETED
Continuouslyidentifyandapplyforexternalsourcesoffundingandresources COMPLETED
Reviewlegalandmanagementstructureandpolicies INPROGRESS
Beginassessmentfordigitalarchiveandwebsiterebuild COMPLETED
Communicationwithiwimembers COMPLETED
CompleteAnnualGeneralMeetingrequirements2018 COMPLETED
ACTION STATUS
Hineurueducationgrantsandscholarships COMPLETED
Developrelationshipswithhighereducationinstitutes INPROGRESS
HineuruLeadershipSummit COMPLETED
TeĀkingaTure COMPLETED
ACTION STATUS
TeReostrategy COMPLETED
VideosandmediaforHineuru COMPLETED
Wānangaaiwi COMPLETED
Tribalregisteroftereospeakers INPROGRESS
Hineururesourcesforchildrenandwhānau COMPLETED
Hineuruwaiatarecording COMPLETED
Hineurubookunderway INPROGRESS
TeHarotoMaraeindicativeplans COMPLETED
SupportdevelopmentoftereoMāoriresources COMPLETED
FOCUS AREA 1: HINEURU IWI TRUST
FOCUS AREA 3: EDUCATION AND DEVELOPMENT
FOCUS AREA 2: CULTURE AND HISTORY
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ACTION STATUS
CompleteSocialIndicatorsreport COMPLETED
DevelopmentofpartnershipswithDHBsinHB,TPOandBOP INPROGRESS
Hauoraday INPROGRESS
ACTION STATUS
BegindevelopmentofanIwiEnvironmentalManagementPlan COMPLETED
Seekcollaborativeresearchopportunitiesfortheenvironment COMPLETED
IwiConservationStrategy INPROGRESS
ImplementTeKawenatawithDOC INPROGRESS
CompleteLandcareReport COMPLETED
ACTION STATUS
Generatingregularincome COMPLETED
Receiveandinvestsettlementfunds COMPLETED
InvestmentPlan COMPLETED
Freshwaterkouraproject INPROGRESS
ACTION STATUS
InitiateHineurupouwhenuaproject TOBEGIN
BeginMaraedevelopmentinvestigation COMPLETED
Renewableenergyproject COMPLETED
DeveloprelationshipswithotherIwi COMPLETED
FOCUS AREA 4: HEALTH AND SOCIAL DEVELOPMENT
FOCUS AREA 5: OUR ENVIRONMENT
FOCUS AREA 6: ECONOMIC
FOCUS AREA 7: AHIKAA
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Our iwi register has grown from
2,293 to 2,661 people in the past year
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SCHEDULE 1 –DETAILS OF HINEURU ANNUAL REPORTHineuru Iwi Trust – Trust Deed Requirements for the Annual report: Schedule 6, paragraph 3
REQUIREMENT LOCATION
Comparison of the Trust’s performance against the annual plan
ThisisprovidedintheChiefExecutive’sReport.TheAnnualPlanfor2018-19isonthewebsiteandasummaryprovidedinthisreport.
Balance sheet and income and expenditure statements, including details of trustee remuneration
Balancesheetsandincomeandexpenditurestatementsareincludedbelow.Auditedfinancialstatementswillbesenttoanymemberwhorequestsacopy.Seebelowforinformationontrustees’remuneration
Steps taken to increase registered members Seebelow
Details of settlement quota (if any) Notapplicableatpresenttime
Fisheries matters Notapplicableatpresenttime
Changes made to the constitutional documents of the Trust or Trust Entities
Twochangeshavebeenmadeandvotedonbyiwi.
BALANCE SHEET AND INCOME AND EXPENDITURE STATEMENTSIwi RegisterInthepastyear,wehavehadanumberofiwiregisterapplicationsaspartofouriwiwānangaandscholarshipsprogramme.Ouriwiregisterhasgrownfrom2,293to2661peopleinthepastyear.Thishasresultedfromthesettlementandinpartfromthescholarships.
Trustee RemunerationWearerequiredtoseekexternaladvicewhensettingtheremunerationofTrustees.ExternaladvicewassoughtbyGrantThorntoninOctoberlastyear.GrantThorntonaretherecommendedspecialistsforadviceonappropriatelevelsfortrusteeremuneration.Afterreceivingthisadvice,theTrusteesdeterminedtomakeanincreaseinremunerationtoreflectthegrowingoperationsofHineuruandincreaseinexpectedworkload.ThisremunerationalsocoversanyremunerationentitlementasatrusteeofHineuruCharitableTrustandthereforetherewastobenoadditionaltrusteeremunerationforanyappointmenttotheHineuruCharitableTrust.
Remuneration LevelsPosition Recommended Final Remuneration Range (each)
Chairman $30,000–$35,000 $28,000perannumDeputy Chairman $21,000–$24,000 $16,000perannumTrustees $15,000–$17,500 $12,000perannum
Constitutional AmendmentsTwonewtrustdeedamendmentswereapprovedbyiwimemberstoallowHITtomakedistributionstoHCT,therebyallowingHCTtoutiliserefundableMāoriauthoritytaxcreditsaccumulatedbyHIT,andalsotoensurethatoutgoingtrusteetermsexpireatthesametimeastheappointmentofnewtrustees.Thisistoensurethatduringanelectionyearthereisnoperiodoftimewheretherearenotrusteesareinplace.Thetrustdeedamendmentswereapproved.SpecialResolution1wasapprovedby91.05%andSpecialResolution2approvedby93.39%.Thetotalvoterturnoutwas14.59%(257votes).
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CONSOLIDATED STATEMENT OF COMPREHENSIVE REVENUE AND EXPENSES (FOR THE PERIOD ENDED 30 JUNE 2019)
201912 months
$
201815 months
$
Revenue from exchange transactionsProgramefundingIncomefromfarmingoperationsInvestmentandinterestincomeLeaseandrentalincomeNetfairvaluegain/(loss)onforestryassetsShareofincomefromequityaccountedinvestmentearningsOtheroperatingincomeTOTAL REVENUE FROM EXCHANGE TRANSACTIONS
TOTAL REVENUE
135,0101,246,7401,866,620437,696279,554897,74869,100
4,932,468
4,932,468
95,8511,825,2342,272,228257,208
2,043,732-
49,5246,543,778
6,543,778
Expenses Accounting&advisoryservicefeesAuditfeesAdministrationcostsProgrammeExpensesLivestockExpenseDepreciationexpenseDirectorsfees&expensesEmploymentbenefitexpensesKohaexpenseLegalexpensesProfessional&consultancyfeesScholarshipspaidShareofMiroLimitedPartnershipdeficitTrusteefees&expensesOtherexpenses TOTAL EXPENSES
Surplus/(deficit) for the period before income tax
Incometaxexpense/(income)
Surplus/(deficit) for the period
71,56936,00064,086
--597,33554,337
116,320424,440
1,36054,204
274,78326,40082,990
110,131894,787
2,808,743
2,123,725
264,912
1,858,813
55,59915,97542,087
175,532944,46939,452
113,971375,99410,50046,637
329,47250,60867,923
102,597765,938
3,136,753
3,407,025
455,485
2,951,540
Other comprehensive revenue and expenses Netfairvaluegain/(loss)oncarboncreditsNetfairvaluegain/(loss)onforestrylandNetfairvaluegain/(loss)onfarmland
Total comprehensive revenue and expenses
163,456710,000
1,023,075
3,755,344
192,2483,098,0003,952,002
10,193,790
HINEURU IWI TRUST | ANNUAL REPORT 2019
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CONSOLIDATED STATEMENT OF COMPREHENSIVE REVENUE AND EXPENSES (FOR THE PERIOD ENDED 30 JUNE 2019)
201912 months
$
201815 months
$
ASSETSCurrent AssetsCashandcashequivalentsShortterminvestmentsTradeandotherreceivablesRelatedpartyadvancesLoanreceivablesIncometaxreceivableLivestockTotal current assets
3,911,294-
639,77833,233
7,292,11133,371
1,762,69613,639,249
2,663,9443,009,242216,61233,233
2,811,180101,5491,671,556
10,474.083
Non-current assetsProperty,plantandequipmentForestryassetsIntangibleassetsInvestmentsTotal non-current assets
Total assets
28,728,8406,467,0001,487,249
17,133,12053,816,208
67,455,457
17,632,7376,032,0001,323,793
27,856,05452,844,584
63,318,666
LIABILITIESCurrent liabilities TradeandotherpayablesIncomeinadvanceTotal current liabilities
484,34580,167
564,512
178,93680,167
259,103
Non-current liabilities DeferredtaxliabilityTotal non-current liabilities
TOTAL LIABILITIES
614,364614,364
1,178,876
538,326538,326
797,429
NET ASSETS
NET ASSETS COMPRISE OF: TreatysettlementproceedsRetainedearningsAssetrevaluationreserve
TOTAL EQUITY
66,276,581
51,874,9524,997,4539,404,176
66,276,581
62,521,237
51,874,9523,138,6407,507,646
62,521,237
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CONSOLIDATED STATEMENT OF CASH FLOWS(FOR THE PERIOD ENDED 30 JUNE 2019)
201912 months
$
201815 months
$
Cash flows from operating activitiesCash was received from:Receiptsfromnon-exchangetransactionsReceiptsfromexchangetransactionsNetinterestreceivedNetdividendsreceivedNetPIEincomereceivedIncometaxrefundsreceivedNet GST received
-2,065,188264,936200,565568,455
-20,796
-1,522,249698,29188,024
255,361101,245124,122
Cash was applied to:PaymentstosuppliersPaymentstoemployeesScholarshipspaidInterestpaidIncometaxpaidKohapaid(1,360)(10,500)NetGSTpaid
NET CASH FLOWS FROM OPERATING ACTIVITIES
(1,580,949)(412,122)(26,400)
-28,880(1,360)
-
67,455,457
(2,369,722)(364,110)(50,608)
(158)-
(10,500)-
63,318,666
Cash flows from investing activitiesCash was received from:ReceiptsfromthesaleofinvestmentsFundswithdrawnfromtermdeposits
Cash was applied to:Paymentstoacquireproperty,plantandequipmentPaymentstoacquireforestryassetsPaymentstoacquireinvestmentsLoansadvancedtootherpartiesFundsinvestedintermdeposits
Net cash flows from investing activities
15,581,5503,009,242
(9,417,365)(155,446)
(4,823,156)(4,075,465)
-
119,361
-4,990,758
(2,520,706)(150,268)
(16,741,683)(2,758,180)
-
(17,180,079)
Cash flows from financing activitiesCash was received from:AdvancesrepaidbyrelatedpartiesTreatysettlementfundsreceived
Net cash flows from financing activities
--
-
120,699185,000
305,699
Net increase / (decrease) in cashAdd cash at beginning of periodEquals cash at end of period
This is represented by:Cashandcashequivalents
1,247,3502,663,9443,911,294
3,911,294
(16,880,187)19,544,1312 ,663,944
2,663,944
HINEURU IWI TRUST | ANNUAL REPORT 2019
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SCHEDULE 2 –ANNUAL BUSINESS PLAN SUMMARY2019-20201. Introduction1.1 ThisdocumentsetsouttheAnnualBusinessPlansummaryforHineuruIwiTrustforthenext12months(from1July
2019to30June2020).Inparticular,itsetsoutourfocusareasandourkeyobjectives.1.2 Thetablebelowsetsoutoursevenfocusareasforthenext12-18monthsuntilthecompletionofthesettlementand
thefirstelectionofTrusteesfortheTrust.
FOCUS AREA EXPLANATION
Objective 1: Hineuru Iwi Trust (Governance)
Establishment and Internal infrastructure is about building the proper systems, the foundations of the Hineuru settlement to ensure that Hineuru Iwi Trust is functioning properly to be able to deliver in the future. Internal infrastructure is still needed for development in this next year
Objective 2: Culture and History
Culture and History is about telling our stories, building our cultural identity so that our people feel Hineuru, and be confident in their identity as Hineuru.
Objective 3: Education and Iwi Development
Education and Iwi Development is about building our people through education and leadership development, and ensuring Hineuru leads the education of Hineuru people through effective collaboration with education institutes and advocating for the inclusion of Hineuru history in the NZ curriculum.
Objective 4: Health / Social Development
Health / Social Development is about being a conduit for our people to access good health and to empower our people to better lifestyles. Happy whānau and happy homes are important to Hineuru as well as our physical, mental and spiritual health.
Objective 5: Our Environment (Taiao)
Our Environment is about caring for our environment today for our future generations tomorrow. It is about educating our own as well as others about our environment and to advocate for the health of the environment so that we may continue to connect, understand and be involved in our environment.
Objective 6: Economic
Economic is about growing our asset base to help further our social, cultural and environmental aspirations as an iwi. We must grow our assets prudently and be creative in wealth creation for Hineuru.
Objective 7: Ahikaa
Ahikaa is about our Hineuru identity and being visible in and outside of our rohe. This is about our relationship with our land and how we maintain and reconnect our people to our whenua, to Te Haroto and our awa in the Hineuru rohe.
2 Proposed Activities and Priorities2.1 WesetbelowthecurrentprioritiesasdeterminedbytheTrusteesofHineuruIwiTrust.
AfullcopyoftheAnnualPlanisonourwebsite:www.ngatihineuru.com
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FOCUS AREA KEY OBJECTIVES
Governance • Develop5YearStrategicPlan(2020–2025)• Complete12monthplan• Growtheexternalsourcesoffundingandresourcestodeliverourobjectives• Reviewlegalandmanagementstructureandpolicies• TrainingandsuccessionplanforTrusteesandprospectivegovernors• Continuouscommunicationwithiwimembers• CompleteAnnualGeneralMeetingrequirements
Culture and History • Hineurubookcomplete(ProfRichardBoastauthor)• Continuewānangaāiwi• ImplementationofHineuruReoPlan• Hineururesourcesforchildrenandwhānau• Hineuruwaiatafoundandbeginrecording• Hineurukurareo
Education and Iwi Development • Continueeducationgrantsandscholarshipsbutrevisecriteria• Strengthenrelationshipswithhighereducationinstitutes• Hineuruindustryleadershipandnetworks• DevelopaHineurumetricsystemformeasuringinitiatives• ProgressTeĀkingaTuretoalliwimembers
Health / Social Development • Progressiwihauora• Strategicrelationshipwithtaiwhenua• AssessandfeasibilityforHineururongoacentre
Our Environment • Kawenataengagement• Environmentalinnovationandstrategicrelationships• IwiConservationStrategydeveloped• IwiEnvironmentalManagementPlanfinalised
Economic • Hineurufinancialliteracyopportunitiesfoundandinitiated• Hineurukouraprojectfullyestablished• ReviewofSIPOcomplete
Ahikaa • Hineurupouwhenuaestablished• Renewableandsustainableenergy• Stocktakeofiwiskillsdatabasebegun• Developrelationshipswithotheriwi
HINEURU IWI TRUST | ANNUAL REPORT 2019
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NOTES