TE KOROWAI O NGĀRUAHINE TRUST GROUP
POUWHAKARAE REPORT
$10.5m after tax profit for FY21. ($4.4m: FY20)
$99m total assets for FY21. ($89m: FY20) Tēnā tatou e te whānau
It is my privilege to present the Pouwhakarae Report for Te Korowai o Ngāruahine Trust Group (‘the Group’) for the financial year 1 April 2020 to 31 March 2021. This Annual Report is dedicated to our pahake, whaene and uri who passed away during this period and our aroha goes out to all our whānau who have lost their loved ones. The unfolding Covid-19 crisis sent shock waves through our hapori, our six hapū and our ten marae. It challenged both our tikanga and our way of working. However, it was our tikanga that united us and got us through - including an election and a subsequent change in Trustees. As we continue into the third tenure period and the seventh year of Te Korowai Board, we acknowledge the mahi of previous trustees who moved us through the establishment phase of Te Korowai. They are: Bev Gibson (chair), David More, Wendy Eynon, and our long-standing trustees Cheryl Luke, Ngawai Henare and Will Edwards (founding chair). The first six years of Te Korowai board set the tūāpapa for growth moving forward.
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Te Korowai o Ngāruahine Trust 5 Year Strategic Plan (2021-2026) Picking up on the good work of the previous Boards, our job as the incoming Board has been to establish critical direction and priorities for Te Korowai over the next 5 years. An important step in the process of developing a new strategy was the series of facilitated sessions with uri, whanau and hapū. We heard you talk about tino rangatiratanga, mana motuhake, manaakitanga and kaitiakitanga across these themes: education and employment; protection of our whenua, our awa, our coastline, and a call for support to have our whenua returned and be developed. Investing locally with more tangible benefits to our people; ensuring safe and warm homes for uri; and culture and identity, from which all things should be developed from – we are highly visible, heard, valued and respected as Tangatawhenua-Manawhenua who are important in our communities. From this, we distilled these overarching themes as our four strategic pou: •
Ngāruahinetanga
Ngā mihi hoki kia koe Allie. The Board would like to thank Allie Hemara-Wahanui who served tirelessly as Pouhoutu for more than three years and was our first uri who sat in this position.
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Tupua te Mauri (Taiao)
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Poua te Pātūtū (Kāinga)
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Te Kawa Whanakeora (Mahi)
Working around the challenges of Covid-19, the new Board has come in with a fresh focus and a reaffirmed commitment to our important hapū-centric characteristic. We acknowledge our people participate at different levels across our iwi which is why we are ready to get in behind the good work of our existing Ngāruahine entities, marae, whanau and interest groups – near and far – and who are helping to advance those things that matter to us.
You can see more detail on our strategy on page 14-17.
| TE KOROWAI O NGĀRUAHINE ANNUAL REPORT 2021
Financial Performance and Position FY2020/21 Despite Covid-19, it’s been a great year in terms of our financial performance and position of Te Korowai Group. In 2019/20, the Group received total income of $3.61m and had expenses of $2.74m for a profit of $871k. By comparison, in 2020/21 the Group received total income
