Stadium report release date deferred again

A report on the financial position of the Dunedin company running Forsyth Barr Stadium is being held for another month, with little explanation yesterday of why.

It means the public will have to wait longer for possible insight about whether the stadium will pay for itself, or end up an annual drain on city finances.

The six-month report from Dunedin Venues Management Ltd (DVML), the Dunedin City Council-owned company set up to run the stadium and other venues, did not appear with reports from other council companies earlier this month.

Council finance and resources general manager Athol Stephens said then it was being held for "formal advice", but its release was expected on March 27.

It was sent to directors of the council's holding company, Dunedin City Holdings Ltd, for a "general governance scan" of the content to look for commercially sensitive areas and unresolved issues.

Mr Stephens has said he expected the public would discover when the document was finally released the first six months had been "a challenge".

The Rugby World Cup 2011 resulted in an expected loss of $400,000 for DVML.

In the financial year to the end of June 2011, the company recorded a $3.2 million loss from a period before the stadium was built, in which there was no income.

Mr Stephens did not return calls yesterday, but said by email he was "seeking political advice on the most suitable time and forum" for the document to be tabled. That was likely to be the April 26 finance, strategy and development committee.

- david.loughrey@odt.co.nz

 

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