Delta investigation 'major'

The Office of the Auditor-general considers its investigation into land purchases by Dunedin City Council-owned company Delta to be one of its major inquiries for the coming year.

Results of the investigation might not be made public for some months, at the earliest. The OAG's draft annual plan for the 2013-14 year, published last week, detailed work planned for the 12 months from July 1.

The plan listed the Delta investigation as one of the ''major inquiries'' to be reported on during the year. The investigation into Delta's $14.12 million land purchases in 2008 and 2009 at Luggate, near Wanaka, and Jacks Point, near Queenstown, was confirmed last November.

Late last year, Delta wrote down the value of its investments by $9 million, including by $7.5 million for the Luggate and Jacks Point properties.

OAG staff have been unable to say how long the investigation might take.

''Relatively contained'' inquiries usually took up to three months, while more complex investigations could take six to 12 months.

- chris.morris@odt.co.nz

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