The Dunedin City Council has confirmed a key appointment
with the announcement of a new group financial manager to help
ensure its house is in order.
Council chief executive Paul Orders yesterday named Grant
McKenzie as the council's new group chief financial officer.
Mr McKenzie, a chartered accountant, has been the University
of Otago's director of financial services for the past eight
years, and was formerly the group accountant at Allied Press
Ltd, owner of the Otago Daily Times.
His new role - which he begins in January - would be an
expanded one replacing the vacant chief financial officer's
position, formerly occupied by Athol Stephens.
It would also signal the end for Dunedin City Holdings Ltd
chief executive Bevan Dodds, who would lose his job as part
of the restructuring.
The shake-up was part of a wider reorganisation of the
council's senior management structure, unveiled by Mr Orders
At the time, Mr Orders said whoever took up the new role
would work closely with the council and DCHL to ensure a
''unified'' understanding of the finances of both.
The change would help avoid surprises such as the
multimillion-dollar shortfall in dividend payments from DCHL
to the council, which sent shockwaves through the council in
Mr Orders said the changes also represented a move away from
an older ''silo-based approach to financial management'' that
split the council from its companies.
''It's clearly the case that one of the risks to the
financial stability of the council is the ability of DCHL to
maintain its dividend at current levels.
''It seems prudent risk management would involve bringing
together DCC and DCHL financial management in one position,''
he said at the time.
Mr Orders, in a statement yesterday, said Mr McKenzie was
selected from 28 candidates, both from within New Zealand and
As well as his accountancy role within the university, Mr
McKenzie was a director of several of the university's
subsidiary companies, including Foundation Studies Ltd,
Unipol Recreation Ltd and University Union Ltd, and a trustee
of the New Zealand University Superannuation Scheme.
Mr Orders said Mr McKenzie's ''wealth of knowledge and
experience'' would be ''instrumental in ensuring the
effective and efficient management of DCC group finances''.