Hamilton City Council Mayor, Tim Macindoe, has announced the establishment of a “high-powered five-person think-tank” to provide him with independent financial perspectives on key issues affecting the city.
The new ‘Financial Reference Group’ is an informal body with no decision-making authority and fulfils an election promise made by Mayor Macindoe, who said he would draw on external fiscal expertise if appointed to the Council’s top job.
The group’s formation has strong support from Council’s Chief Executive, Lance Vervoort and Chief Financial Officer, Gary Connolly, he said.
“Financial responsibility is an absolute core priority for my Mayoralty and this Council. We have made strong progress quickly on some key issues to provide better value for ratepayers,” the Mayor said.
He cited a lower rates rise, a review of what Council spends on consultants and contractors, and a thorough examination of Council’s procurement processes.
Throughout the election campaign, Mayor Macindoe promised he would seek different financial perspectives, insights and expertise that would challenge Council to make prudent and financially sustainable decisions for the city.
“We should not be so arrogant as to think we have all the answers internally – we don’t. I have carefully considered what skill sets will add value, and I am delighted that a talented group of professionals have generously accepted my invitation to support Hamilton City Council. However decisions will quite rightly remain the responsibilities of Elected Members,” he said.
The group will meet informally with the Mayor, Deputy Mayor, Geoff Taylor, Chair of the Finance and Assurance Committee, Rachel Karalus and key staff, four to five times a year. Local group members will not be paid and the group will not form part of Council’s formal governance or committee structure.
“We will be asking members of the group to test our core Long-Term Plan and economic assumptions, identify risks and opportunities and raise anything they believe is material to financial sustainability. That includes issues like debt, rates capping and policy settings.”
Mayor Macindoe said it was important he continued to hear other perspectives, including those from outside the local government sector.
“I am expecting us to be challenged and tested by members of the group and that is exactly what I want.”
Members of the Financial Reference Group to the Mayor are:
Traci Houpapa – Professional director, governance expert and business leader; Chartered Fellow of the Institute of Directors; Member of the New Zealand Order of Merit; recognised globally for leadership in Indigenous enterprise and sustainable economic development.
Brad Olsen – Chief Executive and Principal Economist at Infometrics.
Mark McCabe – Fellow Chartered Accountants Australia & New Zealand with 20+ years expertise in strategy, governance, deals, digital transformation and finance fundamentals. Extensive governance experience across a range of organisations.
Leean Bedwell – Managing Director at Cleland Hancox Limited. Fellow Chartered Accountants Australia & New Zealand. 30-years public practice experience.
Rob Pascoe – Chartered Accountant, Director and Chair of Audit and Risk Committee at First Credit Union. Former partner at PWC and Beattie Rickman. Completed three terms as a Hamilton City Councillor (Oct 2013- Oct 2022) including nine years on the Audit and Risk Committee and six years as Chair of the Finance Subcommittee.
