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Ngāti Mākino Iwi Authority — Group Annual Report 2018


Kia

M A K I N O

E!

ANNUAL REPORT For the year ended 30 June 2018

NGĀTI MĀKINO IWI AUTHORITY

Matawhaura te maunga

Rotoehu te moana

Whakahau te tangata

Mākino te Iwi

He taniwha ngā tangata

He Paruparu ngā kai



Ngāti Mākino Heritage Trust and Iwi Authority Directory

Treaty of Waitangi Settlement Organisation

NMIA: 18 March 2008 I NMIA: 12 April 2011

Awhi Awhimate Laurance Tamati Stewart Ngatai Brian Tunui

Chairperson (NMHT) Chairperson (NMIA) Trustee Director

Hare Wiremu Edith Sykes Ian Lockhart Dickson

Trustee Trustee Director

Accountant Solicitor Auditor

Bankers: Westpac

1762 Old Coach Road, RD9, Pukehina, Te Puke, PO Box 479, Te Puke 3119

Telephone: 07 573 3370 I Email: [email protected] I Website: www.ngatimakino.co.nz

NATURE OF BUSINESS

DATE OF FORMATION

BOARD OF TRUSTEES DIRECTORS

REGISTERED OFFICE

SUPPLIERS

21

mailto:[email protected]


NOTES


Contents Agenda …………………………………………………………………………………………………………………………..…... 1

Ngāti Mākino Iwi Authority Annual General Meeting Minutes ……………………………………………………… 2

Ngāti Mākino Heritage Trust Annual General Meeting Minutes……………………………………………..……... 5

Chairperson’s Report …………………………………………………………………………………………………..………… 7

Rohe Map …………………………...………………………………………………………………………………... Centre fold

Operations Report …………………….………………………………………………………………………………………… 10

2018-2019 Ngāti Mākino Iwi Authority and Ngāti Mākino Heritage Trust Business Plan Summary …... 14

Finance Report …………………..………………………………………………………………………………………………. 16

Operations at a Glance ………………………………………………………………………………………………………… 19

Directory …………………………………………………………………………………………………………………………… 21

Picture: Matawharua & Lake Rotoehu



Ngāti Mākino Operations Income

Rentals Consulting Taurawhiri Scholarship

$518k $88k $63k $27.5k

Ngāti Mākino Operations Expenditure

Fees Offices & Vehicles Events Forest Mgmt Staff

$103k $83k $94k $67k $307k

Ngāti Mākino Heritage Trust Grants Distributions

Marae Kaumatua Firewood Tertiary Other

$20,000 $17,000 $6600 $13,000 $2038

Ngāti Mākino Asset Base

Whenua Te Kohanga Joint Ventures Investments Funds $17.3M $2M $2.9M $12.6M $922k

$


19


Statement of Financial Position

At the end of each year, the financial statements include the current financial position of the Group, which reflects the overall value of the Group at 30 June 2018.

Total Assets 33,939,942 24,012,672 41%

Total Liabilities 630,776 547,038 15%

Equity 33,309,166 23,465,634 42%

This Year Last Year Change

As at 30 June 2018, total assets were valued at $33.9 million. Of this, the land assets accounted for $17.3m or 51% of this figure. The value of the total assets has increased by 41% over the past year due to a $8.7m revaluation and the strong performance of the investment portfolios.

Total liabilities were just $630k, with 85% of this being income in advance for the Forestry licence fee. Other liabilities include money owed to suppliers & creditors, accrued expenses and annual leave enti-tlements.

The difference between total assets and total liabilities means that owners’ equity in the Group is $33.3m. This reflects a 42% increase compared to last year (predominantly due to the land revalua-tions).

18


Agenda

NGĀTI MĀKINO IWI AUTHORITY GROUP

NOTICE OF ANNUAL GENERAL MEETING

NOTICE IS HEREBY GIVEN that the Annual General Meeting of the Ngāti Mākino Iwi Authority will be held at Otamarākau Marae on Saturday 24th November 2018 at 10am.

AGENDA

1. Apologies

2. Minutes & Matters Arising

3. Annual Report for the Financial Year Ended 30 June 2018:

a. Chairman’s Report

b. Operations Report

c. Mauri Impact Reporting

d. 2018-19 Business Plan

e. Summary of the Audited Consolidated Group Financial Statements

4. Announce newly elected Trustees

5. Appointment of Auditor Recommendation

6. Trustee Remuneration Recommendation

Nā,

Laurance Tamati

Chairperson

Note:

a. A copy of this notice has been posted to Iwi members registered on the Ngāti Mākino Iwi Regis-ter with known addresses

b. Any other general business raised at the meeting will be undertaken at the discretion of the Chairperson

c. A copy of the annual report will be posted on the Ngāti Mākino website www.ngatimakino.co.nz

d. The meeting will conclude at 12.30pm followed by kai

1

http://www.ngatimakino.co.nz


Ngāti Mākino Iwi Authority Annual General Meeting Minutes HELD AT OTAMARAKAU MARAE, STATE HIGHWAY 2, RD6, TE PUKE ON SUNDAY 2 DECEMBER 2017 AT

10AM PRESENT: Edna Reha Thomas, Josie Reha, Te Ngaru Awhimate, Te Ariki Morehu, Miriam Awhimate, Peretini Te Whata, Tutewharerimu Awhimate, Ray Ngatai, Awhi Awhimate, Pania Tamati, Marti Hunuhunu, Te Hirata Sykes, Annette Sykes, Taiatini Whanau Trust, Denise Awhimate, Mapihi Raharuhi, Te Mihi Awhimate, Tamara Epapara, Margaret H Williams Rānui Hopa-Paura-Ryan, Kēpa Morgan, Laurance Tamati, Michael Ryan, John Peri, Rakapurua Tipiwai, John Tamehana, Mary T Dillon, Ellen Tamati, Blake Stephens, Tepora Emery, Winsome Sita Emery, Awhina Awhimate, Robyn Manuel, Cheryl Stephens, Tohu Ripeka Te Whata, Tai Rapana, Te Ata Ngatai 1. KARAKIA/MIHIMIHI - Te Ariki opens the hui with a karakia. Peretini mihimihi to the hui.

Acknowledgements Laurance acknowledges Aunty Hilda Sykes and Uncle Te Ariki Morehu longstanding members of the Trust, all past trustees, and to all beneficiaries present today.

2. APOLOGIES – Muriwai Ihakara, Pia Bennett, Waitiahoaho Emery, Amiria Ngatai, Grant Ngatai, Kalena Eru,

Meriana Tamati, Paeraro Awhimate, Riria Atutahi and Whanau, Te Ropiha, Margaret Williams, Aho Vercoe, Richard Vercoe, Tilly Vercoe, Tahwiri Morehu, Cheryl Stevens, Brian Tunui, Hare Wiremu, Christopher Clark, Piki Thomas

Resolved: That the apologies be accepted. (Moved: Te Ata Ngatai, Seconded: Edna Reha), Carried 3. MINUTES OF PREVIOUS ANNUAL GENERAL MEETING (29 NOVEMBER 2016) –

Matters Arising - Edith, Annette and Hilda Sykes (late) added to attendance register. Resolved: That the minutes of Annual General Meeting held 29 November 2016 be adopted. (Moved: Josie Reha Seconded: Annette Sykes) Carried 4. ANNUAL REPORTS

4.1 Board Report – Laurance presents the Ngāti Mākino Iwi Authority Annual Report. Governance has focused on two core projects; Digital Communications, and Research and Development. Key NMIA outcomes included; Appointment of General Manager; Launched online membership platform and website; Statistics NZ agreement for Ngāti Mākino inclusion in 2018 Census; Heritage Trust opera-tions incorporated into Iwi Authority processes. Key NMAL outcomes included; Recovered whakapa-pa lands; Managed Te Kohangā Forest; Investigating milk processing plant in Kawerau; Annual return was 4.9%. Investment Portfolio currently valued at $14M. Overall asset position of the Iwi is $31.9M, a significant advance on the assets transferred at settlement. NMHT activities are noted; Grants distri-bution to ngā uri o Mākino; environmental management; protection of Cultural Heritage; Rena Con-sent Appeal; and revitalisation of Te Reo Rangatira through wānanga.

Questions: i. Ngāti Mākino Whakapapa - Who holds and has access to whakapapa records? Where is the historic

data from the Claims Committee, historic video from site visits? Whakapapa and historic records are held in Pukehina Office. Kia Mākino facilitator is cataloguing material.

ii. Orion Health Investments (OHI) – Several reviews undertaken regarding the OHI loss. OHI funda-mentals OK, it appears market perception of IT companies is driving the price down. OHI has liquidi-ty, but governance issues within the company need to be resolved. The directors believe it is not a good time to sell.

iii. Harbor Asset Management (HAM) – Value reduction is not a loss. NMAL reduced defensive assets 2


1,062,150

868,438

1,167,596

2018 2017 2016

Revenue

Total revenue was up 22% compared to last year from $868k to $1.06m. As was the case in previ-ous years, the major source of income was the forest licence fee which accounted for 59% of to-tal revenue. The forest licence fee for 2018 in-creased by 11% to $625k.

Consulting income of $78k is a new revenue stream for the Group which helped increase reve-nue from goods and services from $570k to $712k this year.

Investment income was up 20% from $268k to $322k due to increases in PIE (Portfolio Invest-ment Entity) revenue received and interest reve-nue. Other income decreased slightly from $30k to $28k.

The overall trend is relatively consistent across the past three years.

Surplus

The surplus before tax for the year increased by 5% from $202k to $210k, predominantly due to the 22% increase in revenue and increase in for-eign exchange movements from $3k to $106k. The surplus does include a deduction for the Grant to NMHT which was higher compared to last year.

Expenses

Total expenses for the year were $912,605 which is 39% higher than last year ($655,929).

This is due to an increase in most operating costs as the Group have increased its activities, com-menced a range of projects and brought on addi-tional resources.

As indicated last year, employee related costs have also increased due to the recruitment of a General Manager and staff previously employed by the Heritage Trust redeployed into NMIA.

The Iwi Authority increased its donation to the Heritage Trust for grants paid during the year to $44,564, from $14,238 last year.

There has also been a significant increase in for-eign exchange gains from $3,385 last year to $105,874 this year.

Total Comprehensive Income

The total comprehensive income for the year has significantly increased from $633k last year to $9.8m this year. This is due to the increase in other comprehensive income, consisting of:

• An increase in the value of the portfolios of $977k (2017: $431k)

• Land revaluation of $8.7m (2017: 0)

17


This year Last year Change

Revenue 1,062,150 868,438 22%

Expenses (912,605) (655,929) 39%

Other Items 61,311 (10,853) 665%

Net Surplus 210,855 201,656 5%

Other Comprehensive Income 9,638,855 430,914 2,137%

Total Comprehensive Income 9,849,710 632,570 1,457%

Finance Report

An overview of the Ngāti Mākino Iwi Authority Group financial performance for the year ended 30 June 2018 is provided. The full financial statements which were audited are provided separately. Cookson Forbes & Associates issued a clear audit opinion.

The Group has delivered a strong financial result with operating income up 22% and operating expenses also up 39%. The trading surplus of $210,855 is similar to last year’s result ($201,656). The final result is underpinned by a significant increase in other comprehensive income through revaluations of the invest-ment portfolios and land held by the Group. The total comprehensive income of $9.8m was also support-ed by strong operational performance that retained the surplus for the year.

16


to purchase land which provides a similar low risk proposition. iv. Iwi Capital Fund (ICF) - NMAL has $3.4mil in private equity and consider ICF gives access to larger long

term investment (10 years+). Challenges of the ICF are noted. v. Policy on Social Responsibilities – NMAL Statement of Investment Principles and Objectives (SIPO)

includes policy on social responsibilities is more comprehensive than other social policies including pos-itive implications as well as negative ones.

Closing Remarks – Chair acknowledges his fellow trustees, directors and staff for their time, mahi and commit-ment. Advisors GHA and Tupono Legal are recognised for their support and guidance. Beneficiaries are acknowl-edged for their attendance today. Resolved: That the Board Report be accepted. (Moved: Pania Tamati Seconded: Tai Rapana) Carried

4.2 Strategic Plan Update – The Chair provides a brief update the NMIA Strategic Plan.

The SEED Project provided our Iwi with a community road map which was presented at a hui-a-iwi at Otamarakau Marae where two core projects were prioritised;

• Digital Communications and Community Development • Ngāti Mākino Research and Development Centre

Our March Mauri Model wānanga investigated a more holistic approach to monitoring the delivery of outcomes structuring Ngāti Mākino aspirations as four dimensions;

• Kō Mākino Tātou (Hāpori – Social) • Mana Tukuiho (Kia Mākino – Cultural) • Mana Whakahono (Taiao – Ecosystem) • Mana Whakahaere (Whairawa - Economic)

The integration of our Mākino Model and the Community Road Map produced the 2017 – 2020 strate-gic plan update that is guiding current activities.

4.3 Operations Report - Kēpa presents his report on his initial months in the GM role. Ngāti Mākino Pro-

cesses – Organisational review of processes was undertaken. Kia Mākino – The Ngāti Mākino digital platform was launched at Matariki and will strengthen communications within our iwi and provide op-portunities for our people. Encouraged to register online to be able to benefit collectively. Nga Rangahau a Mākino – The virtual research hub is becoming increasingly visible to strategic part-ners in growing our reputation and creating new opportunities. CBONS symposium in March intro-duced mauri based understanding of our rohe and focused on impacts upon mauri. Aashukan Declaration – Created at an International event intended to strengthen Iwi research net-works as the basis for strategic relationships.

Questions:

i. Are new employment opportunities being created for our people? Not at this stage. We need to ensure the opportunities we create have the ability to grow and be sustainable. As determined by the SEED Roadmap, our priorities were Digital Communications and the Research Hub to identify opportunities where our whenua and our people can benefit from new initiatives.

ii. Activities within Mana Tukuiho are acknowledged and the question is raised about how we can get our people to engage in activities particularly our rangatahi.

iii. Health & Wellness Day – A request for an “Iwi Health Day” at our marae is made. NMIA need to bring all the health and service providers together to assess and identify gaps. There is a need to highlight the services available to our people.

iv. Healthy living across all of the things we do? Mapihi notes our Maramataka could be all encompassing to include things like Health days and indicates she is keen to work with Ngāti Mākino to develop the Maramataka.

Resolved: That the Operations report be received. (Moved: Margaret Williams Seconded: Mary Dillon) Carried

3


4.4 Audited Group Financial Statements – NMIA Group audited financial statements for the year ended 30 July 2017 are presented. Clean audit opinion received from the auditors Cookson Forbes & Associates.

a. Ngāti Mākino Group – Includes the Ngāti Mākino Iwi Authority, Ngāti Mākino Assets Ltd and newly es-tablished company Ngāti Mākino Ngahere Ltd.

b. Statement of Financial Position – Heritage Trust advance is acknowledged as an asset on the Iwi Au-thority in the balance sheet. Total assets noted at $24M.

c. Ngāti Mākino Assets Limited – Key trends are noted. Overall return for the company was 4.9% where our target is 6% plus inflation i.e. 6.9%.

d. Ngāti Mākino Ngahere Ltd – Set up to hold the Rotoehu West forest lands purchased in December for $2.2M

e. Trustee & Directors Fees – Trustee and director fees are disclosed.

Resolved: That the audited financial statements be approved. (Moved: Ellen Tamati Seconded: Rakapurua Tipiwai) Carried 5. TRUSTEE REMUNERATION – Resolved: That trustee fees be maintained at current level.

(Moved: Annette Sykes Seconded: Mapihi Raharuhi) Carried 6. APPOINTMENT OF AUDITOR RECOMMENDATION – That Cookson Forbes & Associates be appointed as

Auditors for the 2017/18 financial year. (Moved: Tai Rapana Seconded: Te Ariki Morehu) Carried

7. TRUSTEE ELECTION RESULTS – Results of the Trustee Election. Hare Wiremu and Laurance Tamati de-

clared re-elected trustees on the Ngāti Mākino Iwi Authority.

Ngāti Mākino Iwi Authority Hui ends – 12:05 p.m.

4


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ti M

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o c

ult

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es o

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gnifi

can

ce

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ric

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arc

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stiga

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rei k

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āti

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kin

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wi

Au

tho

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Tru

st

Bu

sin

ess

Pla

n S

um

ma

ry


Ngāti Mākino Heritage Trust Annual General Meeting Minutes NMHT ANNUAL GENERAL MEETING HELD AT OTAMARAKAU MARAE, SH2, RD6, TE PUKE ON SATURDAY 2 DECEMBER 2017 AT 12:20 PM 1. MIHIMIHI - Mihi from the Chair, Awhi Awhimate. 2. MINUTES OF THE PREVIOUS AGM - Minutes are taken as read. Resolved: That the minutes of the previous Heritage Trust AGM are true and correct. (Moved: Stewart Ngatai Seconded: Tutewharerimu Awhimate) Carried 3. ANNUAL REPORT

a. Appointment of a new General Manager completed an internal restructure. Environmental portfolio

shifted to NMIA. Activities are reported.

b. Centres of Ako (Te Reo Programme) – Programme initiated to revitalise te reo within our iwi. The

programme is funded by Te Taurawhiri I Te Reo.

c. Grants & Distributions – First grant distribution of $43,647 to Ngāti Mākino beneficiaries made this

year which included, kaumatua, tertiary education, hauora/discretionary, Marae.

d. Kaitiakitanga - Rotoiti / Rotoma / Rotoehu wastewater scheme, State Highway 33 Realignment, West-

ern Bay of Plenty District Council Relationship.

e. Environmental Recovery Strategies and Assessments – Rena Consent Appeal, Regional Coastal Plan,

Cultural Monitoring at sensitive sites within our rohe and the Marine and Coastal Area Application.

Ngāti Pikiao and Ngāti Mākino are joint applicants for the claim with legal costs being shared.

f. Cultural Revitalisation – Noted as a long term focus of our strategy. Strategy is included in the annual

report for feedback.

Questions: Can students studying in Australia apply for Tertiary Grant? Yes if you are Ngāti Mākino. Acknowledgements:

NMHT is acknowledged for their grant payouts. Martin Hunuhunu is happy to acknowledge receiving his grant for hearing aids.

Aunty Hilda is acknowledged for keeping the Ngāti Mākino Claims Committee going during 1992 – 2008. Noted, in 1998 the Labour government advised that they would only work with groups of a large natural grouping. Aunty Hilda’s work as the Chair of the claims committee kept us all together, without her it is likely we would not have finished our claim. The claims committee didn’t receive funding during this peri-od.

Resolved: That the Ngāti Mākino Heritage Trust Board Report be accepted. (Moved: Te Ata Ngatai Seconded: TohuRipeka Te Whata) Carried 4. CULTURAL REVITALISATION STRATEGY

4.1 Draft Cultural Revitalisation Strategy – Kēpa gives an overview of the Cultural Revitalisation Strategy. The strategy is expected to increase Iwi cohesion, iwi pride, iwi identity, with the aim that Mana Mākino is strong dynamic and evident in uri.

4.2 Events

a. Matariki – Event was held at Otamarakau Marae in July 2017. Small turnout for the first year

however a great occasion and well received by all present.

5


b. Te Whare Kōrero a Mākino - A series of wānanga led by Ngāti Mākino tohunga koroua and kuia

aimed at reawakening, reclaiming, revitalising, and, reconnecting the iwi to their cultural continu-

um.

c. Nga Wānanga - Three wānanga planned for 2018 each with their own theme. The first wānanga is

in March and forms part of the Revitalisation Strategy.

d. Mahinga Kai Challenge – On the 2nd and 3rd February we are looking to run a Hunting, Fishing and

Cooking challenge at Otamarakau Marae. Members are encouraged to start registering their

teams for the challenge.

4.3 Projects

a. Te Reo - Tāonga given to participants who completed the Te Reo programme. b. Mārakai Garden – Located at Pukehina School as part of the MOU with the Rangituakoha whanau.

5. AUDITED FINANCIAL STATEMENTS – Presentation of NMHT audited financial statements for the year end-ed 30 July 2017. Clean audit opinion received from the auditors Cookson Forbes & Associates.

5.1 Statement of Financial Performance

a. Income – Contract income of $176,000 is all spent on delivering the contracts. Partial donation re-

ceived from the NMIA. Total Income $191,000. b. Expenses – Employee costs have decreased as staff have moved across to the Iwi Authority. Re-

duced depreciation, governance, contract related costs. c. Grants – Transfer of the Marae asset is detailed on page 11.

Resolved: That the audited financial statements be accepted (Moved: TohuRipeka Seconded: Te Mihi Awhimate) Carried Resolved: That Cookson Forbes and Associates be appointed as the Ngāti Mākino Heritage Trusts Auditors for the 2017-2018 financial year.

(Moved: Te Ariki Morehu Seconded: Martin Hunuhunu) Carried

Acknowledgements Kaitiaki Reference Group is acknowledged for the mahi they have completed on the Waitahanui awa. Staff and trustees are acknowledged for their mahi for the Heritage Trust.

6. KARAKIA - Te Ariki Morehu. 7. WHAKAMUTUNGA - 1:40 p.m.

6



significant cultural sites including Ōtari and Pā Mourea, and the mōhiotanga and whakapapa associated with our tūpuna sites.

Ngā Rangahau A Mākino are still in the early stages of developing the relationships necessary to compete for research into forestry bi-products, alternatives to dairy farming and forestry, native planting strategy, papakainga housing, and eco-tourism. An early output from the ARCGIS platform is the rohe map on pages 12 & 13, which is an excellent way of communicating the Ngāti Mākino way of knowing and connecting to our rohe and what research is relevant to us.

Overview Statements of service performance are summarised in the Chairperson’s Report. Thus the majority of work streams identified for the 2017-18 fianncial year have been achieved. A pictorial summary of these outcomes is provided on page 20. This year’s planned activities are reported under the four mauri dimensions of the Mākino Model on pages 18 & 19 retaining the format established in 2017. Mākino Model Reporting With a view to improving the effectiveness of the communication mechanisms in our Trust Deeds, a review was carried out by Kahui Legal. The result is that the NMHT deed is now better aligned to the NMIA deed, and amendments remove duplicate ad-

vertising and reporting requirements. The Board also de-cided to report in more than just financial terms going for-ward, introducing Mauri impact reporting using the Māki-no Model. Mauri is our way of knowing. Mauri can be understood as the life supporting capacity of water, a place, a river, a community, of whenua, of a lake ecosystem. It can also be understood as the binding force between a physical entity and everything else that makes life viable. Mauri can help us to understand potential, life and death, integrity, sustainability, resilience and flourishing. One way to understand changes in mauri is to use thresholds. The primary thresholds that help us understand change, identify when there is no change in mauri. Normal variation has an upper and a lower threshold that represents no change or mauri impact.

An advantage of this approach is that the focus shifts from arguing acceptable levels of diminished mauri (pollution, removal), to a more responsible approach of striving to enhance mauri where-ever possible. Enhancing mauri is a more accurate representation of kaitiakitanga obligations and community sustainability aspirations. The diagram opposite shows the four mauri dimensions being enhanced over time, with our financial asset base supportingt he strengthening of our Mākino community, our connection to our rohe, and the retention and assertion of our identity, our mana tukuiho.

Mai Tawhiti Areare ki Maketū, Turou Te Awa ō Ngatoro, Turou Waitahanui!

12


Chairperson’s Report

Introduction

On behalf of the Ngāti Mākino Iwi Authority I am pleased to present the Ngāti Mākino Groups annual report for the financial year ended 30 June 2018.

This report aims to provide you with a snapshot of the main highlights from the year under review, whilst the Operations and Financial Reports that follow will provide a more comprehensive and detailed account of key activities, performance and outcomes.

Ngāti Mākino Iwi Authority

As with previous years this has been another extremely busy year for the Ngāti Mākino Iwi Authority (the Au-thority) as we’ve endeavoured to build upon and strengthen the Groups Strategic Plan 2017 – 2020 presented at last year’s annual general meeting. The following is a high-level summary of the Authority’s key activities and achievements for the year:

• Integrated the (SEED) community development plan with the Mākino Model and updated the Strategic Plan 2017 – 2020. A summary of the plan can be found elsewhere in this report.

• Secured registration for the 2018 Census and Ngāti Mākino are now included in the Census.

• Implemented the Authority’s Trust Deed amendments to ensure consistency with other entities within the Group and to reduce duplication and associated costs. The amendments were subsequently approved by the Iwi in the current financial year so it is no longer a requirement for the Authority and Trust to hold sepa-rate annual general meetings.

• Office and operations relocated to Pukehina School and a satellite office established in Rotorua. A Memo-randum of Understanding was signed with Pukehina School and Nga Uri o Rangitukoha (the original owners of the land)

• Facilitated environmental projects including, cultural monitoring at sensitive sites within the Ngāti Mākino rohe, active participants in the Rotoiti Rotoehu Sewage Scheme project

• Secured research contracts for Geothermal Resource Management and cultural site identification.

• Managed Ngāti Mākino assets including leased lands and the Te Kohanga commercial forest

• Secured Mauri evaluation projects aligned to issues of interest to Ngāti Mākino.

• Created employment and training opportunities for Ngāti Mākino.

Ngāti Mākino Heritage Trust

It has been another busy year for the Trust. The following is a high-level summary of the Trusts key activities and achievements for the year:

1. Trust Deed amendments: • Implemented Trust Deed amendments as part of the Group. • The Trust is now aligned to the Authority to achieve greater consistency of purpose and reduce dupli-

cation and associated costs.

2. Grants distributions:

Completed a second round of grant distributions with the addition of the koeke firewood project. A summary of the grant distributions are as follows;

• Kaumatua 58 grants at $300 per grant $17,400

• Tertiary 13 grants at $1,000 per grant $13,000


7


• Hauora 4 grants at $1,638 $1,638

• Discretionary 2 grants at $200 per grant $400

• Marae 3 applications $20,000

• Firewood 22 deliveries $6,600

• Total Grants $59,038

3. Governance responsibilities:

Asserted mana moana in relation to the following projects;

• Marine and Coastal Area (MACA) application claim initiated jointly with Ngāti Pikiao

• Motiti Rohe Moana Trust Spatial Planning submissions

4. Te Reo Rangatira Revitalisation:

Revitalisation of Te Reo Rangatira by administering the delivery of free weekly classes at four locations within the Bay of Plenty. Submitted Matawai o Te Arawa proposal in June 2018..

5. Cultural Revitalisation:

Cultural revitalisation strategy implemented with five events planned and four events successfully delivered;

• Matariki Commemoration

• Wananga mai Tawhiti ki Maketu

• Deed of Settlement Celebration

• Wananga ko Makino

All four events were well attended and enjoyed by the iwi. Thank you to all the staff who made these events possi-ble.

Ngāti Mākino Assets Ltd

The following is a high-level summary of the Companies activities, performance and achievements for the year. As with previous years the director’s focus was on achieving the Authorities expectations for the Investment Portfo-lio, which are to:

• Earn an after-fees return of 6 percentage points above CPI inflation (CPI+6) on a rolling three-year basis, and the current annual benchmark return is 7.2 percent

• Grow the assets to $20 million over ten years (2023) before contemplating other kinds of non-portfolio in-vestments.

Managed Investments:

At the 30 June 2018 the portfolio balance stood at $15,355,342. During the year there was activity within the port-folio which included the liquidation of existing investments to fund new investments. The year was a beneficial but volatile one with the portfolio posting positive returns above benchmark in 3 of the 4 quarters.

The overall result for the 12 months period was a gain of 10.4 percent which was 3.2 percent above the benchmark objective of 7.2 percent per annum. At all times during the year there was strict compliance with accountability documents and agreed policies and procedures (SIPO).

Business Development Investigations:

The following activities were undertaken in the year under review or are an immediate prospect:

• Invested in a Dairy Milk Processing Facility in Kawerau. Construction is underway with the plant expected to be fully operational in the first half of 2019.

• Members of the Rotoehu Forest Landowners Collective investigating the potential increase in returns for the landowners in shifting from a land rental model to a forest shareholder model


8


Mākino Facilitator role has provided the expertise to design and deliver an enhanced reo programme and a series of wānanga. The 2018 series culminat-ed with the hugely successful rohe tour visiting Ōtari, During the year Awhina Awhimate shed some mi-nute taking duties and extended her energies into more communications focused activities. We launched Pānui, and more recently in August we appointed Kirti Chandarana as our Digital Taiao Technician. Programmes and Projects Our 2017 Te Reo contract close-out reports were accepted by Te Taurawhiri i Te Reo. A new pro-posal was provided to Te Matāwai for 2018 as we are now under Te Matawai Te Arawa grouping. Funding has been confirmed and 17 Iwi are sharing $1M, Ngāti Mākino $62,000 for our proposal Te Rautaki Whakarauora Reo a Mākino. Our team have delivered three wānanga in 2018 progressively raising awareness and understanding of Mākinotanga. Mai Tawhiti ki Maketū was in Poutūterangi at Otamarākau, followed by Ko Māki-no in Piripi, and culminating with the rohe hikoi in Mahuru.

Over the summer temporary employment was cre-ated for four labourers processing firewood. The target was to process and deliver 64 loads to recov-er the sunk cost. Based on 100 loads the project would have achieved “break even” covering fuel oils and consumables as well as wages. Numerous Mākino koeke received firewood in their sheds as well as Mākino whanau who accessed sub-sidised rates for their firewood. A more secure site and an arrangement for a Māki-no contractor are being organised for 2019. Ngā Rangahau A Mākino have been actively progressing research and in particular, while there is no certainty of funding approval for any research

proposed, our efforts have secured two research bids, and have initiated other research via partnerships that share the responsibility for research contributions including funding and facilitation. Outcomes are provided as a summary below; • Empowering Geothermal Energy with GNS

commenced October 2017 will create an expert decision support tool reflecting mana whenua priorities in development projects. This will also provide insights on groundwater management which is very relevant to Ngāti Mākino. Dylan Nona Taute-Hohepa received the Ngāti Mākino GNS PhD scholarship at Otamarakau Marae on 7th July at Matariki.

• Four mauri evaluation projects aligned to Ngāti Mākino issues including the impact on Otamarākau of KiwiRail increased use of the Kawerau Maunganui line, by Uni of Auckland.

• Assessment of wastewater scheme impacts and risk analysis aligned to cultural concerns for Pre-treatment option assessment and the Kaituna-rediversion mauri baseline.

• Research into the Te Arawa māramataka to create our 2018 fridge magnet again in 2019.

• Mōtītī Rohe Moana Spatial Planning evidence support for Ngāi Te Hapu, assisting the marine reserves created at Mōtītī.

• Rotoehu Kōkako translocations opposed on the basis of incomplete research and evidence of bias in the recommendations.

• Opportunities have been investigated regarding marae resilience to natural disasters, and wharenui earthquake risk buildings evaluation bid has been successful.

• Proposal submitted to Te Arawa Fisheries Iwi Partnership fund to investigate landbased aquaculture opportunities at Otamarakau.

• Maps for Wānanga Toru which traversed our rohe on 16th September, revitalising our historic connections to 11


Operations Report

Ka tangihia ra o tatau pikikōtuku kua moe ki te pō. Koutou haere, haere whakaheke atu haere whakangaro atu haere whakaoti atu e! Ngāti Mākino kia kaha te mau ki te kakau o te hoe, Ngāti Mākino kai tawhiti kotata anō hoki tēnā koutou kia ora huihui tatau. Kia aho matuahia te taketake – Kia tūwaerea te tau a Mākino. Kia hiwa rā! The 2017-2018 financial year has been a year of change with new premises, new staff, new roles and new programmes introduced, as well as the realisa-tion of several goals providing the foundation for future projects and programmes. Turou Hawaiki! New Premises Our satellite premises were established at Te Puni a Maui, GHA Centre, Rotorua and occupied from 1 August 2017. The office has two desks, a desk top computer and printer access, and more importantly meeting rooms and a presence in a busy Māori busi-ness hub that facilitates many useful relationships. Our satellite office provided continuity for our de-parture from the Te Puke location to Pukehina School.

Thus, we established our rohe presence at Wha-rengānui on 2nd October 2017, having negotiated two memoranda. A memorandum of understanding was signed with Pukehina School Board of trustees allowed maintenance and repairs to be carried out on Classroom 3. On 3rd October, we opened Ngāti Mākino Iwi Authorities office celebrating our agree-ment with Ngā Uri a Rangitukoha.

Rangitukoha of Ngāti Mākino and Ngāti Whakahemo provided the land for the school’s establishment more than 100 years ago. We have worked hard over the past year to establish our research unit and have initiated Mākino-led research. Setting up in an unoccupied class-room required some investment to make it fit for pur-pose. Ngāti Mākino also invested in establishing a com-munity garden with some kai used for the Matariki hākari this year.

It was a privilege to host the inaugural Mākino Pukenga Koeke hui at our offices as many of our koeke are ex-pupils. Annual reports have been provided on the first year aligned with the terms set out in the two MOUs. With the relocation of premises to Rotorua and Wha-rengānui, the opportunity to review services provision identified that changing provider for phone services could save up to $500 monthly. NMIA shifted across to 2 Degrees in January 2018. A service contract also nego-tiated for accountancy services.

New Staff The appointment of Muriwai Ihakara to the new Kia

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• Members of Mihi, which is a collaborative project investigating the growing of industrial hemp

At all times during the year under review there was compliance with accountability documents and agreed policies and procedures (SIPO). There has been some creep outside of allowable ranges for Aspiring and Private Equity as a result of capital calls and increases in fund valuations. The Directors considered these and made changes to these ranges in their annual review of the SIPO in August 2018.

Group Financial Results The past year has seen the Group deliver a strong financial result with operating income up 22% compared to last year and operating expenses also up 39%. The trading surplus of $210,855 was similar to last year’s result. As at the 30 June 2018, total assets were valued at $33.9m. The land assets accounted for 51% of this figure.

Overall, the total value of the Group has increased by 41% over the past year due to an $8.7m revaluation and the strong performance of the investment portfolio.

Owners equity in the Group is $33.3m, which reflects a 42% increase compared to last year, which is predominantly due to the land revaluation.

Closing Remarks

The Trustees are very pleased with the overall results of the Group and are looking forward to the challenges ahead.

In closing, I would like to thank my fellow Trustees, our Directors and our staff for their time, commitment and hard work over the past year. In particular I would like to acknowledge Edith for her service to our Iwi as a trustee over the past three years. Edith has decided to take some time out and we respect her decision and we wish her and her whanau the best for the future.

I would also like to thank our advisors and consultants. In particular, I would like to thank:

• Glenn Hawkins and his accounting team for their ongoing guidance and support, and

• Jason Pou and his legal team for their continued support and advice

Finally, I would like to acknowledge our beneficiaries. Everything we do must be focused on contributing to the achievement of your aspirations. We believe we have exciting times ahead of us and that with the right leadership, commitment and willingness to work collaboratively we can contribute to a great future for our mokopuna, whānau and marae.

Na

Laurance Tamati

Chairperson


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