2017 Te Runanga o Ngāti Awa Annual Report by Te Runanga o Ngāti Awa

Contents

Te Rūnanga o Ngāti Awa

Chairman’s Report Chief Executive’s Report Board of Hapū Representatives Our Organisation Our Staff Te Kāhui Kaumātua Te Ara Poutama: Guiding Principles • Manaakitanga - Te Patutātahi - Iwi Support Offers Incentive - 2017 Tertiary Grants & Scholarships - Education Grant Biography - Kooti Rangatahi - Supporting Our Future • Kaitiakitanga - He Mihi Maioha - Te Ohu Mo Papatuanuku II - Customary Fisheries - Te Tai Whakaea • Ngāti Awatanga - Te Mānuka Tūtahi Report - Te Kupenga Commemorations - Te Rautaki Reo - Kapa Kōrero - Hākinakina

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Ngāti Awa Group Holdings Ltd, Ngāti Awa Assets Limited

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Chairman’s Report Chief Executive’s Report Board of Directors Associate Directors Profiles Te Rūnanga o Ngāti Awa Financial Statements - Directory of Officers - Statement of Comprehensive Revenue and Expense - Statement of Changes in Equity - Statement of Financial Position - Cash Flow Statement - Notes to the Financial Statements - Auditor’s Report - Remuneration and Payments - Our Ngāti Awa Hapū Representatives Directory of Staff

Annual Report 2017

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Te Rūnanga o Ngāti Awa

Chairman’s Report

Te Rūnanga o Ngāti Awa Chairman Hohepa Mason at centre, leading the dawn service to commemorate the signing of Te Tiriti o Waitangi 16 June 2017.

Ko te amorangi ki mua, ko te hāpai ō ki muri

Te Rūnanga o Ngāti Awa

Working together in unity demonstrates the strength we can draw from each other in times of difficulty and hardship. On behalf of Te Rūnanga o Ngāti Awa I offer our gratitude and thanks to the many volunteers, Civil Defence staff, and Ngāti Awa entities, whānau and marae who worked tirelessly to respond to the needs of the many who were affected by this severe weather event. It is likely that these severe weather events will become more frequent with climate change, and as an iwi we must continue to work together to be prepared.

Nau mai haere mai ki te ripoata ā tau o Te Rūnanga o Ngāti Awa Welcome to the 2016/2017 Annual Report

Reflecting over the past 12 months I wanted to draw our thoughts back to the April floods and cyclone that severely flooded Te Patutaatahi, Te Teko, and Poroporo when the stopbank at Te Patutaatahi breached and the heavy rains and remnants of Cyclone Debbie on 6 April. Following the rapid evacuation of residents in these areas, Ngāti Awa marae and whānau reacted immediately by opening marae, combining resources and working together to ensure Ngāti Awa whānau and the wider community were supported. Rūnanga representatives also mobilised and established the Ngāti Awa Volunteer Army, communication channels, and maintained a Ngāti Awa presence at the Emergency Civil Defence Centre and on the ground. Te Tohu o Te Ora o Ngāti Awa and Te Whare Wānanga o Awanuiārangi provided immediate support by providing accommodation and meals, vehicles, escorting whānau returning to their homes, social and health services, and keeping communications open within our communities. Following the evacuation, Te Rūnanga o Ngāti Awa and Ngāti Awa Group Holdings also launched a recovery fund to offer financial support to registered Ngāti Awa descendants. As at 30 June 2017, we had distributed $27,000 to 54 applicants.

Rūnanga Representative elections were held in 2016 and we gained six new Representatives. One Representative resigned in May 2017, and we welcomed another Representative to our Rūnanga Board in June 2017. I would like to acknowledge the contribution of the outgoing Representatives, and thank them for their services to Te Rūnanga o Ngāti Awa and Ngāti Awa. These Representatives dedicated their time and efforts to sit on the Rūnanga, Rūnanga Committees, and participate in our decision making to make a difference for Ngāti Awa people today and in the future. I welcome the newly appointed Representatives to our Rūnanga Board and look forward to the contributions to our development and future that you will make over the next 3 years. A Deputy Chair was also appointed in the last year, and I welcome working closely with Tuwhakairiora O’Brien to strengthen our governance approach, and prepare for succession planning. The recent appointment of Associate Ngāti Awa Group Holdings Directors is also encouraging, as we build our capacity to manage and lead our commercial development for and on behalf of Ngāti Awa. Thank you to Te Rūnanga o Ngāti Awa Representatives, Ngāti Awa Group Holdings Directors, Trustees and Committee members for your ongoing commitment and dedication. Mā te Atua tātau e manaaki e tiaki i ngā wā katoa. Naaku noa,

DR HOHEPA MASON

Chairman Te Rūnanga o Ngāti Awa

Annual Report 2017

Te Rūnanga o Ngāti Awa

Chief Executive’s Report

Te Paroa Marae Image of Leonie & whanau or Leonie working. Non posed/ Natural image

Ehara taku toa i te toa takitahi engari he toa takitini e

Te Rūnanga o Ngāti Awa

Overall Total Comprehensive Revenue and Expense was $3.3m for the year compared to $4.7m last year. On the face of it this looks disappointing, however this is a very solid result considering last year included $5.2m of non-cash gains from carbon credits. The Rūnanga itself incurred a loss of $0.2m compared to a loss of over $0.5m in 2016. The improved result is due to a significant reduction in overheads, particularly in salaries. The result includes an operating loss of $0.5m for Mataatua Wharenui, which is an improved result compared to 2016 with additional tour sales being a significant highlight.

The focus of the past year has been on continuing to build a foundation from which we can contribute to, and drive positive outcomes for Ngāti Awa whānau and hapū. An operational review was undertaken to better align our structure with the aspirations of Ko Ngāti Awa Te Toki – Iwi Vision 2050. Operationally we are focussed on providing and leading services and activities which enhance the survival and continuance of our identity, language and culture as Ngāti Awa and provide opportunities to grow our rangatahi leadership potential. We have also strengthened our ability to maintain and enhance our taiao, and improved our technological capacity to enhance access to iwi archives and information. In partnership with government and others we have been able to develop and distribute Ngāti Awa pūrākau, tell our stories through exhibitions, support the revitalisation of te reo amongst the iwi, and started to redevelop our online presence and iwi register. The performance of the Rūnanga Group for the year was a surplus of $3.6m compared to $1.0m last year. This was due to improved farming performance, gains in investment assets (shares etc) and prudent management around our expenses. Reduced reliance on consultants resulted in savings of $374,000 across the Group this year, even with professional advisors needed for the comprehensive due diligence process surrounding the purchase of White Island Tours.

We have been supported in our work by descendants of Ngāti Awa who volunteered their time and expertise towards creating a brighter future for all Ngāti Awa people wherever they reside. I extend to them our collective thanks for all the work you have done behind the scenes. We have created some opportunities which we intend to realise over the next 12 months, especially rangatahi leadership potential and the continued revitalisation of te reo amongst the iwi. These outcomes are set out in our 2017/2018 Annual Plan that was presented to the 2016 Annual General Meeting and approved by Te Rūnanga o Ngāti Awa. I thank the staff for their hard work over the past 12 months, and look forward to achieving success for the iwi. Our bottom lines are accountability and transparency – te tika me te pono – and we will strive to deliver this in 2017/2018. Naaku noa

Leonie Simpson

Chief Executive Te Rūnanga o Ngāti Awa

Annual Report 2017

Te Rūnanga o Ngāti Awa

Board of Hapū Representatives

Hohepa Mason Ngāti Pūkeko (Chairman)

Amohaere Tangitu Te Tawera

Tuwhakairiora O’Brien

Te Pahipoto (Deputy Chairman)

Alfie Morrison

Te Kei Merito

Ngāti Rangataua

Meri Hepi

Ngāi Tamawera

Ngāi Tuariki

Miro Araroa

Regina O’Brien

Mihipeka Sisley

Manurere Glen

Enid Ratahi-Pryor

Ruihi Shortland

Vincent Copeland

Pouroto Ngaropo

Ngāti Hāmua

Ngāi Te Rangihouhiri II

Ngā Maihi

Ngāi Taiwhakaea

Ngāti Hokopu Te Whare o Toroa

Te Kahupaake

Te Patuwai

Ngāti Awa ki Tāmaki Makaurau

Paul Quinn

Ngāi Tamapare

Te Rauotehuia Chapman-Devos

Ngāi Tamaoki

Te Arani Barrett

Stanley Ratahi

Putiputi Koopu

Materoa Dodd

Warahoe

Te Hokowhitu a Tu Ki Te Rāhui

Ngāti Maumoana

Boyce Kingi

Ngāti Hikakino

Wharepaia

Brian Tunui

Ngāti Awa ki Pōneke

The Board of Representatives comprises members from each of the 22 Ngāti Awa hapū. They are responsible for the governance of the Iwi organisation. 6

Te Rūnanga o Ngāti Awa

Our Organisation Tumurau Limited Partnership

Ngāti Awa Farms (Rangitaiki) Ltd

51%

Ngāti Awa Fish Quota Holdings Ltd

White Island Tours Ltd

ip O wnersh

Ngāti Awa Farms Ltd

68 %

Ngāti Awa Forests Ltd

Ngāti Awa Properties Ltd

Ngāti Awa Fisheries Ltd

100% Ownership

Manu Hou Ltd Liability Partnership

Mataatua Quota ACE Holding Ltd

17%

Ow n e r ship

70%

NAGHL

NAAHL

Ngāti Awa Group Holdings Limited

Ngāti Awa Asset Holdings Limited

100 % Ow n e r s h i p

NARA

NACDT

Ngāti Awa Research & Archives Trust

Ngāti Awa Community Development Trust

100 % Ownership

Te Rūnanga o Ngāti Awa

TRoNA

Annual Report 2017

Te Rūnanga o Ngāti Awa

Our Staff

Haley McCorkindale

Andrea Kingi

Jackie Wharewera

Naedene Stewart

TRoNA Board Secretary

Manager Knowledge & Information

CEO Executive Assistant

Receptionist

Glenda Stewart NAGHL Board Secretary

Noti Belshaw

Manager Identity: Language & Culture

Keri Topperwein

Consents Coordinator

Peter Thomas

Financial Controller

Beverly Hughes Manager Policy & Strategy

Charlie Bluett

Customary Fisheries

Lynsey Mariu

Finance Administrator

Monica Maniapoto Iwi Register

Bob Hudson

Operations Manager

Ngāti Awa — Our People Te Rūnanga o Ngāti Awa Members’ Register, 2013 Census.

Approx. 20,000 descendants

Approx. 31% identified Ngāti Awa as their sole iwi affiliation

Approx. 50% are 23 years of age or younger

Approx. 73% have a formal

Approx. 31% can hold a conversation about everyday things in teo reo Māori

Approx. 45% live in the Bay of Plenty– the remainder live in Auckland, Wellington, Waikato or overseas

Te Rūnanga o Ngāti Awa

Kāhui Kaumātua

Back row (L-R): Charlie Bluett, Matekino Raerino, Doris Himone, Hiwa Wynyard, Amohaere Tangitu Seated (L-R): Jimmy Takotohiwi, Aporina Chapman, Hemana Eruera, Hohepa Mason, Rangitukehu Paul (Chairman), Ngamihi Crapp, Hana Tutua

Te Kāhui Kaumātua o Ngāti Awa Te Kāhui Kaumātua met four times over the past year to discuss various kaupapa including: • Providing Cultural Advice • Tikanga and kawa matters

Representing each of the 22 hapū of Ngāti Awa, the Kāhui Kaumātua roles and responsibilities, as outlined in the Te Rūnanga o Ngāti Awa Charter, are: To protect the mauri of Ngāti Awa, and provide leadership and guidance on matters of tikanga, kawa, reo and kōrero.

Annual Report 2017

Te Rūnanga o Ngāti Awa

Te Ara Poutama: Guiding Principles Manaakitanga:

Our shared obligations to care for one another, with particular emphasis on caring for our youth and our elders.

Kaitiakitanga:

Represents our obligations to protect our culture, our environment, our resources and our people today and for future generations, in accordance with our cultural practices.

Ngāti Awatanga:

Uphold and protect our language and culture – which derive from our shared ancestry – as the cornerstone of our unique identity.

Caring for each other:

Guardianship for future generations:

Our language and culture:

Te Patutātahi

Cyclones Debbie and Cook In April, back to back cyclones hit the Eastern Bay and Te Patutātahi with devastating effect. The wind blew, the rain poured down, the floodwall broke and the flooded river poured through the breach into Te Patutātahi town. Around 1700 people had been evacuated just before the breach, leaving their homes with little more than the clothes on their backs.

Aerial view of Te Patutātahi April 2017. Photo BOP Regional Council

The event was bad, but the aftermath was dreadful. Ngāti Awa knew the townsfolk would need help to clean up the mess so Te Rūnanga o Ngāti Awa collaborated with the Bay of Plenty Regional Council and the Whakatāne District Council by calling for volunteers to help the people of Te Patutātahi. And they came. Ruaihona and Kokohinau Marae opened their doors, Te Paroa and Te Hokowhitu a Tu Marae made ready and the assembled Ngāti Awa Volunteer Army got busy establishing drop off points for food, clothing, furniture and supporting affected families. Te Tohu o Te Ora o Ngāti Awa deployed nurses and staff to the red zone cordon to escort whānau retrieving critical items from homes, and helped whānau through this troubled time.

10 Te Rūnanga o Ngāti Awa

Manaakitanga: Caring for each other:

Iwi support offers incentive

Two of the 2016 scholarships were awarded to Guy Monika and Cheryl Wilson. The following outlines how the support from Te Rūnanga o Ngāti Awa and their hard work combined to give them success in 2017, their final year of a bachelor’s degree.

Guy Monika

Affiliating to Ngāti Awa through Ngāi Tamawera hapū and Uiraroa Mārae, Guy is well known in the community of Te Teko, where he was born and grew up. Guy is involved with various committees in Te Teko and Edgecumbe, including the Edgecumbe Bluelight, and is a Trustee on the Edgecumbe College Board of Trustees. In April 2017, Guy graduated with a Bachelor of Environmental studies through Te Whare Wānanga o Awanuiārangi. Studying on top of a full-time job with Te Puna Ora o Mataatua as a Whānau Ora Health Promotion Co-ordinator did prove difficult at times. However, Guy said, “Knowing I had the backing of my Iwi, I was proud to keep going and felt a certain responsibility to not let my Iwi down. It was comforting to know there were people in my Iwi who were supporting me.” It’s been a hard few years, but Guy encourages anyone in that same situation to keep going with their study. Guy is continuing his studies, and has just completed his first semester of a Masters of Indigenous Studies with Awanuiārangi.

Cheryl Wilson

Te Rūnanga o Ngāti Awa scholarships are in Cheryl Wilson’s mind, a way of “helping those who are helping others”. Kawerau-born and bred, Cheryl affiliates to Ngai Tamaoki, Ngāti Tarawhai, Pahipoto, Te Kahupaake and Ngā Maihi hapū, and is an active participant at hui and as ringawera for tangihanga, hura kōhatu, hui and other events. In recent years, Cheryl has been the Ngāi Tamaoki representative for Ngāti Awa Hakinakina Hapū Challenge and Ngāti Awa Te Toki. She relishes her involvement with her Iwi, hapū, marae and whānau – and feels fortunate to have attended two of the Paetapu Succession Wananga in 2015. Having this year completed a Bachelor in Humanities from Te Whare Wānanga o Awanuiārangi, Cheryl will graduate in March 2018, something she is proud of, and credits the support of her husband of 20 years, and their four children. Cheryl completed a double major of indigenous studies and indigenous business, which has already proved useful with her work with whānau land trusts. Cheryl says the Iwi support helped with a financial contribution towards equipment like a laptop, essential for the interactive classroom. Proud to be Ngāti Awa, Cheryl loves giving back and seeing the benefits of “events like Te Toki that lift our Iwi”. This year, after 12 years with Te Tohu o Te Ora o Ngāti Awa, Cheryl took a role with the newly formed Recovery Navigator Kaiārahi Service, with the Whakatāne District Council. Cheryl is focussed on offering services to the district and making sure people feel connected and included.

Annual Report 2017

Te Atiwei Ririnui mahi raranga

2017

Education Grants and Scholarships 2005/2006

$81,400

2006/2007

$87,600

2007/2008

$78,450

Matauranga Māori Te Wānanga o Aotearoa “I engage with the Mataatua Marae ki Tamaki through hapu and Iwi links to Te Whare Wananga o Wairaka, and having an input on the kaitiaki committee and as an executive member on the marae committee of Mataatua ki Tamaki.”

2008/2009

$77,200

2009/2010

$99,450

2010/2011

$97,750

2011/2012

$94,250

2012/2013

$59,850

Winiata Tahau-Anderson | Te Pahipoto

2013/2014

$48,450

2014/2015

$45,600

2015/2016

$40,800

2016/2017

$46,900

Total

$857,700

Scholarship Recipients

Te Atiwei Ririnui | Ngāti Awa ki Tamaki Makaurau

Law/Commerce The University of Waikato “Currently I am Waikato based, whenever study or work schedule permits, I aim to attend Poukai within Tainui with my hapu elders. Although limited I am willing to give 100% plus to my Marae, Hapu, Iwi at all times.“

Ryan Herbison | Ngāti Hokopu ki Te Whare o Toroa

Master of Zoology The University of Otago “I look forward to bringing my passion for my cultural heritage into the scientific community; Ideally conveying the message that respect for cultural traditions and scientific progress can be integrated successfully.”

Te Rūnanga o Ngāti Awa

$857k

EDUCATION GRANT

Distribution 2006-2017

Manaakitanga: Caring for each other:

2017

Education Grant Recipients Ngā Maihi Hazel Abraham

Doctor of Philosophy Auckland University of Technology

Dayna Chapman

Bachelor of Commerce University of Auckland

Vivienne de BortaliTregerthan Bachelor of Arts with Honours University of Auckland

Jaedyn Hahipene

Bachelor of Commerce Victoria University

Grace Harper Tierney

Bachelor of Sport and Recreation Auckland University of Technology

Fay Hawea

Masters of Indigenous Studies Te Whare Wānanga o Awanuiārangi

Margaret Hawea

Te Tohu Paetahi Nga Poutoko Whakarara Oranga Te Wānanga o Aotearoa

Nadia Mantell

Masters of Speech Language Therapy Practice (MSLTPrac) University of Auckland

Houston Maxwell

Bachelor of Arts University of Waikato

Waioira Mcleod

Bachelor of Physiotherapy University of Otago

Te Rina Popata

Professional Legal Studies Course University of Waikato

Cynthia Tuihi Pryor

Doctor of Philosophy of Environmental Studies Te Whare Wānanga o Awanuiārangi

Harlem Pryor Marine Studies

Toi Ohomai Institute of Technology

Jeanette Raki

Bachelor of Bicultural social work Te Wānanga o Aotearoa

Keely-Shaye Salmon Turoa Bachelor of Science University of Auckland

Jesse Te Riini

Bachelor of Medicine and Bachelor of Surgery (MBChB) University of Auckland

Ngāi Taiwhakaea Jamie Allan

Master of Analytics Auckland University of Technology

Georgia Kate Wetawhiti Glen

Bachelor of Communication Studies Auckland University of Technology

Jean Kopae Culinary Arts

Toi Ohomai institute of Technology

Awanuiaranga Morris

Conjoint Bacelor of Law and Commerce University of Auckland

Kaihou Morris

NZIS Diploma in Sport (Advanced Sport Management) NZ Institute of Sport

Rachel Morris

Post Graduate Diploma in bicultural supervision Te Wānanga o Aotearoa

Oromairoa Rangawhenua Bachelor of Health Science University of Otago

Lyric Ratahi

Bachelor of Social Science University of Waikato

Shonelle Wana

Master Indigenous Studies Te Whare Wānanga o Awanuiārangi

Lee Williams

Bachelor of Health Science Māori Nursing - Te Ohanga Mataora Paetahi Te Whare Wānanga o Awanuiārangi

Ngāi Tamaoki Rangiwhanake Apiata

Bachelor of Health Science Māori (Nursing) Te Whare Wānanga o Awanuiārangi

Tauhe Apihai

Masters of Indigenous Studies Te Whare Wānanga o Awanuiārangi

Shaun Cooze

Diploma In Applied 3D Animation Animation College New Zealand

108

GRANT RECIPIENTS Billy Jo Hunia

Bachelor of Computing and Mathematical Science University of Waikato

Gloria Hunia

Arts and Social Science University of Waikato

Whaitiri Ngaheu

Bachelors of Communications Study University of Waikato

Tamaku Paul

Bachelor of Humanities Te Whare Wānanga o Awanuiārangi

Carrie Savage

Te Tohu Toi Tangata Bachelor of Humanities Te Whare Wānanga o Awanuiārangi

Sharlene Teirney

Masters in Education University of Canterbury

Cheryl Wilson

Te Tohu Toi Tangata Bachelor of Humanities Te Whare Wānanga o Awanuiārangi

Ngāi Tamapare Sonny Maru-Habib

Bachelor of Engineering Technology Auckland University of Technology

Ngāi Tamawera Margaret Gillies

Bachelor of Education Te Whare Wānanga o Awanuiārangi

Rosalee Gillies

Bachelor of Health Science Māori (Nursing) Te Whare Wānanga o Awanuiārangi

Ngāti Awa ki Tāmaki Makaurau Turuhira Hotene

Bachelor of Commerce University of Auckland

Vivienne Puti Wilson

National Diploma in Counselling Anamata

Wairemana Tamatea Bachelor of Nursing

Toi Ohomai Institute of Technology

Annual Report 2017

2017

Education Grant Recipients Ngāti Hamua

Ngāti Pukeko

Sarah Te Poono

Jamie Hepi

Matetu Herewini

Ngāti Hikakino

Uenukuterangihoka Jefferies

Te Kahupāke

Diploma of Small Business Enterprise Te Wānanga o Aotearoa

Aroha Leighton

Conjoint Bachelor of Laws and Bachelor of Arts Victoria University

Melissa Savage

Bachelor of Matauranga Māori Te Whare Wananga o Awanuiārangi

Maia Westrupp

Bachelor of Social Sciences University of Waikato

Avary Patutama

Bachelor of Law, Bachelor of Commerce (Conjoint) University of Auckland

Ngāti Hokopu ki te Hokowhitu Atu Caitlin Balkin

Bachelor of Physiotherapy minor in Māori studies University of Otago

Moana Rangiaho

Bachelor of Teaching University of Waikato

Courtney Sullivan

Bachelor of Medicine and Surgery University of Otago

Maia Danielle Wharewera-Ballard Bachelors of Fine Arts Whitecliffe College of Arts & Design

Ngāti Hokopu ki Te Whare o Toroa Merenia Hudson Bachelor of Arts Victoria University

Pauline Mary Kora

Master of Indigenous Studies Te Whare Wānanga o Awanuiārangi

Vicky Lawson

Doctor of Philosophy in Māori Studies Massey University

Bachelor of Law University of Waikato Bachelor of Management Studies University of Waikato

Miriarangi Kapa

Bachelor of Medicine and Surgery University of Otago

Erin Kennedy

Bachelor of Commerce Victoria University

Glenda Rewita

Child Protection Studies Child Matters, Hamilton

Keanu Rua

Bachelor of Commerce and Bachelor of Law conjoint University of Auckland

Mereana Su

Masters in Māori and Pacific Development University of Waikato

Gabrielle Tarau

Te Ohanga Mataora Paetahi Te Whare Wānanga o Awanuiārangi

Jaymie Wardlaw

Bachelor of Laws University of Waikato

Te Ruahuihui Nadia Dillon Bachelor of Nursing Toi Ohomai

Shannon Macmillan

Bachelor of Laws & Bachelor of Arts University of Otago

Marjory Magdalen Mason

Bachelor of Health Science, Nursing Te Whare Wānanga o Awanuiārangi

Julia Wikeepa

Bachelor of Social Sciences University of Waikato

Ngāti Rangataua Marama Cook

Te Pokaitahi Reo & Masters Te Whare Wānanga o Awanuiārangi

Nigel Rapana

Te Tohu Toi Tangata Bachelor of Humanities Te Whare Wānanga o Awanuiārangi

14 Te Rūnanga o Ngāti Awa

Masters of Māori Studies Te Whare Wananga o Awanuiārangi

Alice Mcleod

Bachelor of Commerce Victoria University

Te Rahui Manaia Tunua

Bachelor of Engineering (HONS) Victoria University

Jessica Wiperi

Bachelor in business (Accounting) Open Polytechnic of New Zealand

Te Pahipoto Zena Elliott / Ereatara

Maunga Kura Toi Whakairo Te Wānanga o Aotearoa

Willow Folwell

Graduate Diploma of Education Te Rito Maioha

Kimberlee Hohepa

Bachelor of Health Science in Nursing Auckland University of Technology

Melissa A P Hunia

Bachelor of Laws University of Waikato

Hinetiki Karaitiana Te Tohu Paetahi Ako

Te Whare Wānanga o Awanuiārangi

Judith C Karaitiana

Te Paetahi Ako Bachelors in Primary Teaching Te Whare Wānanga o Awanuiārangi

Siobhon Marks

Bachelor of Midwifery Institute of Canterbury

Hannah McComb

Bachelor of Midwifery Auckland University of Technology

Erina McDonnell-Norling Bachelor of Physiotherapy University of Otago

Etana-John Nathan

Graduate Diploma- Management University of Waikato

Martin Niao

Bachelor of Management Studies University of Waikato

Manaakitanga: Caring for each other:

2017

Education Grant Recipients Stacey Niao

Jerry Rota

Amokura August

Rewi Rogers

Te Tai Pounamu (Taepounamu) Ruha Bachelor of Business Analysis

Wereta August

Master of Science Waikato Institute of Technology

Bachelor of Adult Education Te Wānanga o Aotearoa

Bachelor of Laws and Arts University of Auckland

Bachelor of Arts University of Waikato New Zealand Business diploma level 6 with a diploma in business studies, diploma in human resources, Toi-Ohomai Institute of Technology

University of Waikato

Aroha Ruha-Hiraka

Bachelor of Health Science Māori Nursing Te Whare Wānanga o Awanuiārangi

Wharengaro Ruha

Watson Tuifuaivaha

Tracey Takuira

Bachelor of Medicine, Bachelor of Surgery University of Auckland

Warahoe

Bachelor of Engineering (Hons) University of Waikato

Madeleine Campbell Bachelor of Commerce

Doctor of Philosophy (PhD) Te Whare Wānanga o Awanuiārangi

Lincoln University

Waipae Polly Perese

Te Tawera

Veronica Waiari

Te Toi Tu Tangata, Bachelor of Humanities Te Whare Wānanga o Awanuiārangi

Cherise Kerrigan

Graduate Diploma of Chartered Accounting Open Polytechnic of New Zealand

Bachelor of Arts University of Auckland

Jackie Te Amo

IND904 Indegenous Studies PhD Thesis Te Whare Wānanga o Awanuiārangi

Rangipare Ngaropo

Te Patuwai

Bachelor of Arts Majoring in Pacific Development University of Waikato

Hannah Cull

Bachelor of laws, Bachelor of commerce conjoint University of Auckland

Naomi Palmer

Grace Abbott

Bachelor of Sports and Leisure Studies University of Waikato

Meremaihi Mahutoto

Rachael Reihana

Science University of Auckland

Te Rumate Mahutoto Te Tohu Paetahi Ako

Wharepaia

Bachelor of Social Sciences University of Waikato

Te Whare Wānanga o Awanuiārangi

Beau Stowers

Te Panekiretanga o Te Reo Te Wānanga o Aotearoa Tuariki

Bachelor of Laws, Bachelor of Arts Conjoint University of Auckland

Shayden Bell

Bachelor of Dental Surgery University of Otago

Levels of Study Total Numbers

PHD (7 Years)

MASTERS (5 Years)

BACHELORS DEGREE (3 Years)

POST GRADUATE (4 Years)

DIPLOMA & CERTIFICATES (6 Months - 2 Years)

Places of Study Total Numbers

32 WANANGA

4 OTHER 10 POLYTECHNIC 62 UNIVERSITY Annual Report 2017

2017

Education Grant Biography

Ryan Herbison Following a lifelong interest in science, 2017 environmental scholarship recipient Ryan Herbison, is completing a two year Masters in Zoology. Born in England, and raised mostly in Dunedin, Ryan through his mother is proud of his Ngāti Awa heritage. His father, also a scientist, has been Ryan’s inspiration. “Dad has been running labs since I was born, so any other career options seemed dull relative to progressing human’s knowledge of the world, and potentially doing something nobody has ever done before”. Having completed a three-year Bachelor in Science, Ryan’s almost a year into his masters study at the University of Otago, which also awarded him a scholarship. His masters’ thesis focuses on how parasites control the behaviour of their hosts, specifically looking at protein differences in the brain of sandhoppers and earwigs infected with nematodes (parasitic worm).

Ryan has already had two research papers published entitled: ‘Lessons in Mind Control: Trends in Research on the Molecular Mechanisms behind Parasite Host Behavioural Manipulation’, and ‘Prolactin transport into mouse brain is independent of prolactin receptor’. With his mind set on continuing in the field of science and research, Ryan plans to do his PhD after his masters, possibly in Canada.

Kooti Rangatahi

Te Whare o Toroa Marae continue to host Kooti Rangatahi. Ngāti Awa kaumātua provide advice and direction to young people who have come to the attention of the NZ Police on a monthly basis, and sit on a panel led by a Youth Court judge. Ministry of Justice research indicates that recidivism has drastically reduced for young people who attend Kooti Rangatahi in comparison to attending Youth Court in the Whakatāne area. Te Whare o Toroa

16 Te Rūnanga o Ngāti Awa

Manaakitanga: Caring for each other:

Supporting our future

Whānau Education Action Plans Program The Whānau Education Action Plans Program (WEAPs) is a Ministry of Education initiative to support NCEA Level 2 students succeed at school. Te Rūnanga o Ngāti Awa is working alongside two high schools in Whakatāne to deliver the WEAPs initiative. • Two hour-long tutorials and classes are delivered weekly at each school • WEAPs Coordinator to organise tutorials and gatherings with whānau, provide mentoring and liaise between whānau, students and the schools • Senior staff at the schools are actively engaged with and support student achievement • 30 Māori Year 12 students are participating from Whakatāne and Trident High Schools • WEAPs provides a place to study and receive extra tuition to assist students to pass their NCEA Level 2

Grace Taiatini - one of several keen tauira opting to give up her afternoons and join WEAPs is photographed with recent awards gained through her own effort and teacher support outside of WEAPs.

At Whakatāne High School (WHS) bringing senior WEAPs students and juniors of Iti Pounamu together to share kai before weekly study sessions was a move that made sense. Iti Pounamu is run by a dedicated group of kaiako at WHS and is highly successful in supporting junior Māori students in their learning. This time of sharing together in the wharekai at Whakatāne High School although ‘simple’ is a fostering of tuakana - teina relationships, to support rangatahi success. The WEAPs effect continues to spread at Trident High School, with more and more requests from Māori students each term to come along and join in on the program. WEAPs has become a part of, and in addition to, Trident High’s overall school plan to address and support Māori achievement. Trident High WEAPs students have benefitted from having a weekly designated class period to focus solely on the mahi they need to complete. This designated class time has removed the trade-off barrier of attending afterschool study sessions or kapa haka, sports or mahi, or enjoying free time. We have had students this year already achieve their NCEA Level 2, and look forward to the results the current students achieve in 2017.

Raniera Rewiri encourages and inspires ambition, resilience and pride in being Māori at the Whakawhānaunga Evening for WEAPs tauira and whānau in August.

Trident High WEAP students (left to right) Paul Tamati, Tatiana Hape-Hutana, Myah Maxwell (rear) Kahurangi Hotene.

Annual Report 2017

He Mihi Maioha Joe Harawira QSM Ngāti Awa, Ngāi Te Rangi

Joe spent most of his life in Whakatāne and from 1988 actively pursuing justice for ex-sawmill workers exposed to pentachlorophenol (PCP), a chemical used in timber processing. In 1988 together with other ex-sawmill workers, Joe formed Sawmill Workers Against Poisons (SWAP) to investigate the impact of PCP on sawmill workers’ and their whanau health. Joe led the charge on identifying contaminated sites throughout the rohe of Ngāti Awa and campaigned relentlessly for Councils and government to clean up these sites, and provide health services to the exsawmill workers and their whānau. In 2010, Te Ohu Mō Papatūānuku a collaboration established by Joe between Ngāti Awa, stakeholder community agencies, and scientists from Waikato and Massey Universities was successful in gaining funding from the Health Research Council of New Zealand to undertake bioremediation trials on contaminated sediment from the Kopeopeo Canal. The success of this research resulted in the Bay of Plenty Regional Council designing and implementing a large-scale remediation project to remediate contaminated sediment within the canal which is continuing today. The most recent Te Ohu Mō Papatūānuku project is a collaboration funded by the Health Research Council of New Zealand, between Te Whare Wānanga o Awanuiārangi and Te Rūnanga o Ngāti Awa. Te Ohu Mo Papatuānuku Phase One: Kopeopeo Canal Bioremediation 2011 - current • Canal contaminated from storm water discharges from the Whakatāne Sawmill between 1950 and 1980 • Testing in the United States of America found white rot fungi and poplar trees could yield an 85% reduction in toxicity in dioxin laden sediment extracted from the Kopeopeo Canal • Bioremediation techniques further refined by the Bay of Plenty Regional Council to decontaminate 1.6km of the canal • Project is funded and led by Bay of Plenty Regional Council • Ngāti Awa Cultural Monitor is in place • The project is ongoing

18 Te Rūnanga o Ngāti Awa

The project will develop a toolkit for Ngāti Awa whānau and marae to identify toxic sites, remedy or manage these sites, and improve understanding of contaminated sites amongst Ngāti Awa. In honour of Joe’s legacy, Te Ohu Mō Papatūānuku scholarships have been awarded to Te Whare Wānanga o Awanuiārangi students Nigel Rapana and Marama Cook. As part of the scholarship awards both students are actively involved in the current project, fulfilling the role of research assistants. Joe was a staunch advocate and leading figure on incorporating mātauranga and tikanga Māori with science to find ways to heal contaminated sites and the people affected by PCP and served on the Environment Protection Agency Māori Advisory Committee. Joe passed away in January 2017. E te kotuku rerenga tahi, moe mai i roto i nga ringaringa o te Ariki. “To be unsuccessful is not failure, failure is not fatal but it is having the courage to continue.” Joe Harawira

Te Ohu Mo Papatuānuku Phase Two: Ngāti Awa Toolkit 2016 - 2018 • Collaboration between Te Rūnanga o Ngāti Awa and Te Whare Wānanga o Awanuiārangi. • Project is funded by the Health Research Council of New Zealand • Project is led by Tracey Godfrey (Ngāti Awa) through Te Whare Wānanga o Awanuiārangi • Two Ngāti Awa scholarship recipients • Ngāti Awa Toolkit for whānau and marae to be developed and distributed • Project ends 31 July 2018

Kaitiakitanga:

Guardianship for future generations:

Ohiwa Habour

Customary Fisheries

Mai I nga Kuri a Wharei ki Tihirau Forum

Ohiwa Implementation Forum (OHIF)

The National Tuna Conference was held in Wanganui this year, with experts in tuna regeneration including Forum member Bill Kerrison in attendance. Bill made a presentation on the work he is undertaking to transfer tuna over the dams on the Rangitaiki river.

Working in conjunction with Environment Bay of Plenty and science researchers Kura Paul-Burke (NgÄ ti Awa) and Joe Burke to install metal frames in and around the depleted mussel beds in Ohiwa Harbour.

NgÄ ti Awa has shelved our tuna quota this year to contribute to the regeneration of the tuna stock. The Tuna Stock Assessment report by Ministry of Primary Industry has been completed, and the report will help us to understand what difference our quota shelving may or may have not made.

Electronic Customary Fishery Permits

The aim of the project is to get the mussels to spawn while being protected from the seastar infestation that has contributed to the current state of the mussel beds. Mangrove management in the harbour is also continuing, with working bees employed to cut back the spread of the mangrove as well. Water quality continues to be monitored especially in the Waiotahe catchment. E coli has been found in the pipi in the Waiotahe area and signs warning of the danger have been erected.

We are currently trialling electronic permitting. This entails downloading the permit applicantâ&#x20AC;&#x2122;s details along with the type and amount of catch asked for, onto an electronic permit. The permit number will then be texted to the holder. The holder must then report his take back to the permit issuer to complete the process.

Annual Report 2017

Te Onehou Phillis, Tā Hirini Mead at Parliament

Kaitiakitanga:

Te Tai Whakaea

Guardianship for future generations:

Our Treaty of Waitangi Settlement Story

A joint project undertaken in partnership with Ministry of Culture and Heritage. The project was an opportunity for Ngāti Awa to record in digital format through interviews our approach and process of settling our Treaty of Waitangi claim. These interviews will be made available online once editing is completed by the Ministry. The interviews centred on providing insight into peoples’ roles during the research, hearings, negotiations and post settlement phases.

Tā Hirini Mead signing at Parliament

Te Tai Whakaea is a key Ministry of Culture and Heritage project designed to communicate Treaty of Waitangi settlements and processes to raise awareness of breaches of the Treaty of Waitangi and their impact on iwi. Ngāti Awa is one of five iwi who participated in Te Tai Whakaea.

Ngāti Awa Kaumātua signing

20 Te Rūnanga o Ngāti Awa

Ngāti Awatanga:

Our language and culture:

Te Mānuka Tūtahi Mataatua Wharenui

The status of Mataatua Wharenui and Te Mānuka Tūtahi Marae as cultural icons of Ngāti Awa was again strengthened in the 2016/17 financial year In the past financial year there are positive signs of growth in key areas, including trade sales and visitor sales. New operating systems have been implemented to ensure a more efficient and effective operation. A commitment to building internal capacity has resulted in the upskilling of all staff. The introduction of the Know Mataatua Cultural Immersion Experience inspired the first significant travel trade sales with two significant Inbound Tour Operators confirming 500 individual sales in the 2018/19 season. This trade sale is a significant step forward for Te Mānuka Tūtahi to create a steady revenue stream. Operating income is slightly down on last year overall but tour sales have increased by approximately 60% which is very pleasing and reflects the focus on this area of the tour experience. A concerted effort has been made to control expenses resulting in a reduction in operating costs of $58,000.

The reputation of Mataatua Wharenui and Te Mānuka Tūtahi as the Eastern Bay of Plenty premier event venue continues to grow. The Rotary New Zealand National Conference Opening Function, Ōmataroa Kiwi Project 10 Year Celebration Dinner and the National Iwi Chairs’ Forum among notable nationally and regionally significant events to be held at the marae.

The Te Mānuka Tūtahi and Mataatua Wharenui team (L-R) Mavis Hemopo, Tame Hotene, Pare Pouwhare-Akuhata, Mark Tutua, Hare Woods, Carolyn Fitzpatrick

Annual Report 2017

Ngāti Awatanga:

Te Kupenga Commemorations

Our language and culture:

The 151-year commemorations of Te Kupenga held 20 October 2016 were planned and hosted by the Te Kupenga o Taramainuku Commemoration Committee with support from Ngāti Awa kaumātua, whānau and marae. The Committee worked on a voluntary basis to host an iwi event where over 800 people participated. Highlights of the event included the dawn karakia and the haka pōhiri where adults and tamariki stood side by side to welcome manuhiri. Te Rūnanga o Ngāti Awa contributed to the event through financial support and launching the “Whakamau mahara ki muri, whakamau titiro ki mua” exhibition that focussed on events in 1864-67 culminating with the final battle at Te Kupenga. The exhibition was based at both Te Kura o Te Teko and Te Kura o Te Paroa following the commemorations. The exhibition will be available on our new website scheduled for release in early 2018. Left to Right: Casey Cousins, Sharlin Tawhara and Ngainoi Maru-Habib. Photo courtesy of Te Kura o Te Paroa.

22 Te Rūnanga o Ngāti Awa

Annual Report 2017 23

Ngāti Awa Pūrakau Books

Ngāti Awatanga:

Our language and culture:

Rautaki Reo Activities

On Thursday 22 June 2017 we launched 18 Ngāti Awa pūrākau books to encourage reading and use of Te Reo Māori in our homes, kura and marae. The pūrākau were distributed to Ngāti Awa whānau, kohanga reo and kura free of charge and will be available in electronic form for downloading on our new website scheduled for release in January 2018.

500 of 18 BOOKS SETS

distributed to

e i 10

Kōhanga Reo

Kura

Marae

Kapa Korero

To contribute to the revitalisation of Te Reo Māori amongst Ngāti Awa, we hosted 10 sessions of Kapa Kōrero at Wharekai Café in Whakatāne. The Kapa Kōrero were designed to support learners and advanced speakers of Te Reo Māori to converse and have a weekly opportunity to practice Te Reo Māori. Participants were aged between 19 and 85 years and met weekly to share kai and kōrero. Nga mihi ki nga uri o Ngāti Awa e tautoko nei i tenei kaupapa.

24 Te Rūnanga o Ngāti Awa

Hapū Distribution The annual Te Rūnanga o Ngāti Awa hapū distributions are paid on application to each of the 22 hapū. 2005/2006

$1,100,000

2006/2007

2007/2008

2008/2009

2009/2010

$200,000

2010/2011

$40,000

2011/2012

$135,000

2012/2013

$55,000

2013/2014

$165,000

2014/2015

$110,000

2015/2016

$107,000

2016/2017

$110,000

Total

$2,010,000

Te Rūnanga o Ngāti Awa distributed

$2 million to hapū 2006-2017

2017 Winners Ngā Maihi, photo courtesy Tamakushots

Hapū Hakinakina Challenge 2017

• Ngāti Awa Hapū Challenge was held on the 7th May 2017 at Adventure SolutioNZ Whakatāne • 6 Teams participated in the Inaugural Ngāti Awa Hapū Challenge in 2006 • The 2017 event was attended by approximately 673 people – a combination of participants and spectators

Youngest registered hapū participant was 9 and the oldest 90

Placings for 2017

1st: Ngā Maihi

2nd: Te Pahipoto 3rd: Ngāti Hokopu ki Wairaka Best Dressed: Ngāti Hāmua Cheerleaders: Ngāti Rangataua Fair Play: Ngāi Tamawera

Past Winners: 2016

Ngā Maihi

2015

Te Pahipoto

2014

Ngāi te Rangihouhiri II

2013

Ngāti Hokopū ki te Hokowhitu a Tū

2012

Not held

18 Hapū Participated

2011

Ngāi Taiwhakaea II

2010

Ngā Maihi

2009

Ngāi Tamapare

2008

Ngāi Tamaoki

2007

Ngāi Taiwhakaea II

2006

Ngā Maihi

Annual Report 2017 25

Ngāti Awa Group Holdings Ltd

Chairman’s Report

Whakaari: White Island, Bay of Plenty. Photo Whakatāne District Council

“It is pleasing to be able to report good progress has been made on all five of our strategic priorities”

26 Te Rūnanga o Ngāti Awa

Undoubtedly, the business highlight of the year was the purchase of White Island Tours, the assets of both the marine and accommodation businesses. The purchase of this iconic Whakatāne business will provide the cornerstone for developing the disparate range of assets the Commercial Group owns within the Wairaka precinct, including the army hall and other sections within the area. However, any such development will only be undertaken after consultation with various affected hapū, and the Rūnanga.

The five strategic priorities your directors of Ngāti Awa Group Holdings Limited and Ngāti Awa Asset Holdings Limited (together jointly referred to in this report as the “Commercial Group”) have agreed with Te Rūnanga o Ngāti Awa (“Rūnanga”) are: • A Principled Operating Culture; • Outstanding People, Systems and Processes; • Prudent Financial Management; • A High Performing Diversified Portfolio; and, • Smart Effective Alliances. Early in the financial year, the board had an independent expert undertake a review of our governance practices and procedures. The expert expressed strong support for the way your board is carrying out its responsibilities. Suggestions were made to enhance strategic discussion at board meetings, improve risk management systems, and cement health and safety procedures, but overall your directors were complimented on the way they are governing the Commercial Group. As part of your board’s commitment to creating opportunities for growing iwi capability we introduced an Associated Director “cadetship” programme to enable our mātātahi to gain exposure to, and experience in, governance. It is with great pleasure your board has welcomed Natalie Coates (Te Pahipoto) and Hone Paul (Ngāti Pukeko) to join them in an associate role at the board table. Both appointments are for two years. At the heart of our success is our management team. They have now been in place for a full business year, and the fact that the financial audit process was completed “in record time, in spec”, is a testament to the excellent work being undertaken by them and their commitment to the Commercial Group. This has been accomplished notwithstanding the heavy workload, including the undertaking of due diligence on the White Island Tours purchase. The board takes this opportunity to record its sincere thanks to the management team.

It is pleasing to be able to confirm the Commercial Group is making good progress in developing alliances with a number of iwi commercial companies across the motu, as well as other major New Zealand institutions. We anticipate being able to report in more detail on the exciting opportunities currently under consideration in a future report. While the Chief Executive reports more fully on the specific accomplishments achieved during the financial year under review, it is worth highlighting the continuing improved results the Commercial Group is achieving: • Net Operating Profit for the financial year under review increased by 63% over last year to $4.8m, • Total Assets have increased by 11% reflecting acquisitions made during the year, • Our Return on Equity is 5%, above the longterm average.

As can be seen the Commercial Group continues to grow and strengthen. On behalf of the board I take this opportunity to thank Ngāti Awa for entrusting the directors with the guardianship of their commercial assets. It is a responsibility we all undertake with due care. I also take the opportunity to thank my fellow directors for their dedication and professionalism throughout the year. Through their own specific experience and expertise they have unquestionably enhanced your board’s deliberations. I thank in particular Tiaki Hunia who is standing down. Tiaki has made many insightful contributions, as well as chairing the board’s Farm Subcommittee. We wish him well and have no doubt he will make a strong contribution as a senior executive at Fonterra.

PAUL QUINN

Chairman Ngāti Awa Group Holdings Ltd

Annual Report 2017

Ngāti Awa Group Holdings Ltd

Chief Executive’s Report

Ngāti Awa Farms

“It has been a very busy year indeed, and a positive one for both the consolidated Rūnanga Group, and the commercial arm of Ngāti Awa Group Holdings”

28 Te Rūnanga o Ngāti Awa

and operations of this fantastic tourism business. We have big plans for the future and will continue to work together with other tourism operators, and our partnership with Mataatua Wharenui, to grow the number, value, and length of stay of tourists visiting the Eastern Bay of Plenty.

Providing Leadership for the Finance Function

Improving our Earnings The commercial arm, Ngāti Awa Group Holdings and Ngāti Awa Asset Holdings produced a strong Net Surplus for the year of $4.8m, up 63% on last year. Positive gains in the financial portfolio produced realised and unrealised returns of over $2.0m, while growth in the pine plantation on the drystock farm contributed a further $1.2m.

Developing Underperforming Assets We have undertaken a Land Use Capability study on the Ōhope farm to assist with the best future direction of this diverse property. The study considered the soil type, topography, location and climate, and confirmed a mixed land use was best-suited for the property. We continue to work towards the recommended land use mix of conservation areas, plantation forestry and pastural farming. Further research will be undertaken this year to determine the target mix of native and exotic plantation forestry, for re-planting the pine forest areas once they are harvested. In addition, concept ideas for the redevelopment of the old Army Hall were prepared to assist with our conversations with local Hapū, Whakatāne District Council and a wider community of stakeholders. This redevelopment takes on a higher priority now we are operating a tourism business in the local area. Further research and consultation will be undertaken before plans can be refreshed and more feedback sought.

Investigating New Investment Opportunities

We receive a large number of possible investment opportunities each year, as well as creating some of our own. The acquisition of White Island Tours, White Island Rendezvous and Peejays Café was the highlight to the year and is a major step into the Tourism sector for Ngāti Awa. After nearly a year of research, investigation and negotiations, we acquired the assets

Over the past year we have seen the benefits from the changes made to our finance team. Employing capable, qualified permanent staff has reduced our reliance on external consultants, while improving the quality and timeliness of our Board reporting. In addition, we tendered and successfully transitioned to our new Auditors KPMG, saving $63,000 compared to the previous year. NAGHL has expanded our leadership role to also include Health & Safety Leadership for the entire Rūnanga Group. Our focus here is to improve our performance in Health & Safety, to protect our staff, contractors and the public from harm. After an independent review late last year, we concentrated our attention on areas which have the highest risk, investing in quad bike and tractor roll-over protection, chemical and fuel safety systems, lone worker emergency beacons, and an on-line H&S management and reporting tool. Meanwhile, the addition of White Island Tours will see more frequent engagement with Maritime NZ and Work Safe NZ, as we showcase an active marine volcano to over 17,000 tourists!

Looking forward, our focus for the next year is in six key areas: • Improving our earnings and in particular our cash returns; • Developing underperforming assets; • Refreshing our investment strategy and framework; • Investigating new investment opportunities; • Providing leadership in Finance & Health & Safety areas; and • Assisting with future plans for Te Mānuka Tūtahi. These are exciting times indeed and I look forward to the fantastic opportunities on our horizon. Ngā mihi,

GEOFF HAMILTON

Chief Executive Ngati Awa Group Holdings Limited

Annual Report 2017 29

Ngāti Awa Group Holdings Ltd

Board of Directors

Ngāti Awa Group Holdings Limited Directors Left to right: Anthony de Farias, Geoff Hamilton (Chief Executive Officer), Debbie Birch, Peter Drummond, Regina O’Brien, Natalie Coates, Waaka Vercoe, Hetaraka Hudson and Joe Mason

2017

Associate Directors One of this year’s strategic priorities was to implement an Associate Director Programme to provide governance experience for emerging Directors who are descendants of Ngāti Awa. After receiving fifteen applications, two candidates were selected and approved to join the 2017 Programme. The Associate Directors are appointed for two years and will attend meetings alongside the existing Directors.

Hone Paul Ngāti Pukeko

Hone graduated from Auckland University of Technology with a Bachelor of Business (Marketing and Management) and a Graduate Diploma of Business in 2006.

Natalie Coates Te Pahipoto

Natalie holds a Bachelor of Arts Māori (Honours), Bachelor of Laws (Honours), from Otago University and a Masters of Laws from Harvard University. Natalie has lectured in law at both the University of Auckland and University of Otago, and is currently practising law with Kāhui Legal in Rotorua.

30 Te Rūnanga o Ngāti Awa

Hone has held marketing and communication roles overseas, with Māori Television, and is currently employed as the Executive Director, Marketing and Communications for Te Wananga o Aotearoa, the second largest tertiary provider in Aotearoa.

Te Rūnanga o Ngāti Awa

Financial Statements For the year ended 30 June 2017

Contents Directory of Officers

Statement of Comprehensive Revenue and Expense

Statement of Changes in Equity

Statement of Financial Position

Cash Flow Statement

Notes to the Financial Statements

Auditors’ Report

Remuneration and Payments

Annual Report 2017

Directory of Officers For the year ended 30 June 2017

Te Rūnanga o Ngāti Awa Representatives M Araroa TA Barrett (appointed 10/12/2016) TR Chapman-de Vos (appointed 10/12/2016) V Copeland (appointed 26/6/2017) M Dodd M Glen M Hepi D Hunia (ceased 29/5/2017) K Hunia (ceased 10/12/2016) B Kingi (appointed 10/12/2016) A Kohunui (ceased 10/12/2016) P Koopu J Mason TK Merito A Morrison P Ngaropo S Nicholson (ceased 10/12/2016) R O’Brien T O’Brien M Paul (ceased 10/12/2016) BP Quinn S Ratahi E Ratahi-Pryor (appointed 10/12/2016) R Shortland (appointed 10/12/2016) M Sisley A Tangitu M Tarau (ceased 10/12/2016) B Tunui (appointed 10/12/2016) M Wahapango (ceased 10/12/2016) The Ngāti Awa Community Development Trust Trustees M Glen D Hunia (ceased 29/5/2017) P Koopu M Tarau M Wahapango

Ngāti Awa Group Holdings Limited Directors D Birch AE De Farias PS Drummond HW Hudson T Hunia R O'Brien BP Quinn Ngāti Awa Asset Holdings Limited Directors D Birch AE De Farias PS Drummond HW Hudson T Hunia R O'Brien BP Quinn Ngāti Awa Farms Limited Directors AE De Farias T Hunia BP Quinn BDP Tatere Ngāti Awa Forests Limited Directors H Hudson T Hunia R O'Brien BP Quinn Ngāti Awa Properties Limited Directors H Hudson T Hunia R O'Brien BP Quinn

Ngāti Awa Research & Archives Trust Trustees TR Chapman A Jaram J Mason H Mead P Ngaropo S Tutua

Ngāti Awa Fisheries Limited Directors H Hudson T Hunia R O'Brien BP Quinn

32 Te Rūnanga o Ngāti Awa

White Island Tours Limited Directors D Birch P Drummond BP Quinn AE De Farias (appointed 12/5/2017) G Hamilton (appointed 12/5/2017) Ngāti Awa Farms (Rangitaiki) Joint Venture Joint Venture Partners Ngāti Awa Farms Limited Putauaki Trust Ihukatia Trust Moerangi Kereua Ratahi Lands Trust Omataroa Rangitaiki No.2 Trust Rangitaiki 31P 3F Trust (also known as Kiwinui Trust) Directors AE De Farias T Hunia Manu Hou Limited Partnership Limited Partners Ngāti Awa Asset Holdings Limited Putauaki Trust Omataroa Rangitaiki No.2 Trust Manu Hou GP Limited Directors D Birch C Elliott H Hudson T Hunia BP Quinn Tumurau Limited Partnership Limited Partners Ngāti Awa Farms Limited Rangitaiki 31P 3F Trust (also known as Kiwinui Trust) Rotoehu Forest Trust Moerangi Kereua Ratahi Lands Trust Tumurau GP Limited Director AE De Farias T Hunia

Statement of Comprehensive Revenue and Expense For the year ended 30 June 2017

Note

2017 $000’s

Group

2016 $000’s

2017 $000’s

Parent

2016 $000’s

Revenue Less: Cost of goods sold Gross surplus

8,112 (1,269) 6,843

6,642 (1,232) 5,410

1,577 1,577

1,949 1,949

Net financing income Total revenue

(269) 6,574

161 5,571

500 2,077

508 2,457

Less expenses Write back of (Impairment charge) / impairment Fair value gain Surplus/(deficit) before tax for the year

8 9 10

(7,826) (118) 4,903 3,533

(7,742) 1,987 1,199 1,015

(2,316) (239)

(3,018) 10 (551)

Less tax expense Surplus/(defecit) for the year

(24) 3,557

26 989

(239)

(551)

12 12

3,252 305 3,557

938 51 989

(239) (239)

(551) (551)

12 12 12

(17) (66) (193) (276)

411 3,282 3,693

3,281

4,682

(239)

(551)

2,884 397 3,281

4,488 194 4,682

(239) (239)

(551) (551)

Attributable to: Equity holders of Te Rūnanga o Ngāti Awa Non-controlling interest Other comprehensive revenue and expense Change in fair value of other financial assets designated as available-for-sale Effective portion of changes in fair value of cash flow hedges (Loss)/Gains on revaluation of intangible assets Total other comprehensive revenue and expense Total comprehensive revenue and expense for the year Attributable to: Equity holders of Te Rūnanga o Ngāti Awa Non-controlling interest

12 12

The accompanying accounting policies and notes form part of the Financial Statements Annual Report 2017 33

Statement of Changes in Equity For the year ended 30 June 2017

Note Equity attributable to equity holders: Equity at the beginning of the year Surplus/(deficit) for the year Other comprehensive revenue and expense: - Revaluation gains - Effective Portion of Changes in Fair Value of Cash Flow Hedges Total other comprehensive revenue and expense Total comprehensive revenue and expense Transactions with owners: - Distribution declared during the year

Total comprehensive revenue and expense Transactions with owners: - Distribution declared during the year Non-controlling interest equity at the end of the year Total equity at the end of the year

2017 $000’s

Parent

82,285

83,336

3,252

938

(239)

(551)

(328)

3,550

(40)

(368) 2,884

3,550 4,488

(239)

(551)

(500)

108,398

105,514

82,046

82,285

8,518

8,924

305

118

143

(26)

143

397

194

(2,100)

(600)

6,815

8,518

115,213

114,032

82,046

82,285

The accompanying accounting policies and notes form part of the Financial Statements

34 Te Rūnanga o Ngāti Awa

2016 $000’s

101,526

Equity attributable to non-controlling interest: Equity at the Beginning of the Year

Other comprehensive revenue and expense: - Revaluation gains/(losses) - Effective Portion of Changes in Fair Value of Cash Flow Hedges Total other comprehensive revenue and expense

2016 $000’s

105,514

Te Rūnanga o Ngāti Awa Equity at the end of the year

Surplus/(deficit) for the year

Group

2017 $000’s

Statement of Financial Position As at 30 June 2017

Equity Reserves Accumulated revenue and expense Non-controlling interest Total Equity

Note

2017 $000’s

Group

2016 $000’s

2017 $000’s

Parent

2016 $000’s

13 12 12

12,670 95,728 6,815 115,213

13,038 92,476 8,518 114,032

8,044 74,002 82,046

23,907 58,378 82,285

7,983 1,500 1,786 3,518 627 240 1,032 16,686

15,267 3,537 1,015 2,966 433 48 3,667 26,933

15 195 45 1,032 1,287

5 197 48 3,667 3,917

28,408 10,265 2,028 17,305 50,404 13,071 3,520 125,001

25,954 10,035 781 17,305 40,552 8,493 3,520 106,640

51,906 22,303 8,690 82,899

51,906 22,576 8,698 83,180

141,687

133,573

84,186

87,097

Current assets Cash and cash equivalents Term deposits Trade and other receivables Livestock on hand Investments Other assets Assets held for distribution

Non-current assets Investments Investment properties Biological assets Forestry land assets Property, plant & equipment Intangible assets Fish quota Owing by subsidiaries

17 20 21 22 23 24 24 30

15 16 17

Total assets Current liabilities Trade and other payables Income received in advance Owing to subsidiaries Ngāti Hikakino and Ngāi Te Rangihouhiri II Hapū Term loans

25 26 30 27 28

Non-current liabilities Income received in advance Term loans

1,358 1,350 1,032 9,207 12,947

1,524 1,426 3,667 468 7,085

355 17 736 1,032 2,140

845 70 230 3,667 4,812

26 28

4,148 9,379 13,527

4,301 8,155 12,456

26,474

19,541

2,140

4,812

115,213

114,032

82,046

82,285

Total liabilities Net assets attributable to equity holders

J Mason Chairman - 27 October 2017

L Simpson Chief Executive Officer - 27 October 2017

The accompanying accounting policies and notes form part of the Financial Statements Annual Report 2017 35

Cash Flow Statement For the year ended 30 June 2017

Cash flows from operating activities Cash provided from: Grant and funding income Interest income received Cash receipts from customers Māori tax credit refund received

Note

Cash applied to: Payments to suppliers and employees Grants paid Interest expense paid Income tax paid Net cash generated from/(used in) operating activities Net cash from investing activities Cash provided from: Dividend income received Realisation of bonds Proceeds from the sale of equities and return of capital Cash applied to: Purchase of dairy farm and livestock Purchase of investments Purchase of intangible assets Purchase of property, plant and equipment Net cash (used in)/generated from investing activities Cash flows from financing activities Cash provided from: Income received on behalf of Ngāti Hikakino & Ngāi Te Rangihouhiri Draw down of term loans Loans from subsidiaries Repayment of loan advances to subsidiaries Cash applied to: Distributions paid to non-controlling interest Funding of derivative activities Loans advanced to subsidiaries Repayment of funds to Ngāti Hikakino & Ngāi Te Rangihouhiri Repayment of term loans Net cash (used in)/generated from financing activities Net (decrease)/increase in cash balances Cash balances at the beginning of the year Cash balances at the end of the year

Group

2017 $000’s

2016 $000’s

2017 $000’s

Parent

388 445 5,669 6,502

289 684 6,585 212 7,770

388 500 137 1,025

230 267 337 212 1,046

7,513 230 522 (24) 8,241

6,473 272 456 26 7,227

2,282 230 2,512

2,970 272 3,242

(1,739)

543

(1,487)

(2,196)

1,054 3,472 1,099 5,625

965 3,433 4,398

1,000 1,000

1,001 35 1,036

256 2,950 4,907 10,662 18,775

465 5,530 233 6,228

17 17

9 9

(13,150)

(1,830)

983

1,027

158

314

158

10,250 10,250

173 331

514 828

174 493 825

2,100 258 -

600 -

140

158

314

158

287 2,645

45 803

314

298

7,605

(472)

514

527

(7,284) 15,267 7,983

(1,759) 17,026 15,267

10 5 15

(642) 647 5

The accompanying accounting policies and notes form part of the Financial Statements

36 Te Rūnanga o Ngāti Awa

2016 $000’s

Notes to the Financial Statements For the year ended 30 June 2017

1 General Information

Te Rūnanga o Ngāti Awa (“the Rūnanga”) and its subsidiaries (together “the Group”) manage the cultural, social, political, and economic base of the Ngāti Awa iwi. The Rūnanga was incorporated under the Te Rūnanga o Ngāti Awa Act 1988, which was subject to the Māori Trust Board Act 1955. Under Section 5 of Te Rūnanga o Ngāti Awa Act 2005, the Rūnanga ceased to be a Maori Trust Board from 25 March 2005, but continues as the same body as established by the Te Rūnanga o Ngāti Awa Act 1988. The Rūnanga is domiciled in New Zealand. The address of the registered office is 10 Louvain Street, Whakatāne. The financial statements of the Rūnanga and the Group are for the year ended 30 June 2017. The financial statements were authorised for issue by the Chairman and Chief Executive Officer on behalf of the Board of Representatives on 27 October 2017.

2 Summary of Significant Accounting Policies

The principal accounting policies applied in the preparation of these consolidated financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

A) BASIS OF PREPARATION

The Rūnanga is a registered charity under the Charities Act 2005, and its financial statements have been prepared in accordance with that Act, the Financial Reporting Act 2013 and as required by the Charter of Te Rūnanga o Ngāti Awa. The Rūnanga is a public benefit entity (“PBE”) for the purposes of financial reporting. A PBE is an entity whose primary objective is to provide goods or services for community or social benefit and where any equity has been provided with a view of supporting that primary objective rather than for a financial return to equity holders. The financial statements have been prepared in accordance with New Zealand Generally Accepted Accounting Practice (“NZ GAAP”). The financial statements comply with the PBE Standards Reduced Disclosure Regime (“PBE Standards RDR”) as appropriate for Tier 2 not-for-profit public benefit entities, for which reduced disclosure regime concessions have been applied. The Rūnanga qualifies for Tier 2, as it has total expenses less than $30 million and does not have public accountability.

The presentation currency of the Group and the functional currency of the Rūnanga is New Zealand Dollars (NZD). The measurement base applied is historical cost, as modified by the revaluation of certain assets and liabilities as identified in these accounting policies. The Group consists of the Rūnanga and its subsidiaries, associates, and joint ventures as listed in Note 29.

Basis of Preparing Consolidated Financial Statements Subsidiaries Subsidiaries are those entities controlled, directly or indirectly, by the Rūnanga, that is, the Rūnanga has the power to govern the financial and operating policies of the entity so as to obtain benefits from their activities. The Rūnanga’s consolidated subsidiary companies generally have an accompanying shareholding of more than one half of the voting rights. The Rūnanga’s consolidated subsidiary trusts are where the Rūnanga appoints all the trustees of the trust, and their activities are conducted on behalf of the Rūnanga. The results and financial position of subsidiaries are included in the consolidated statement of comprehensive revenue and expense, and statement of financial position from the date control is gained up to the date control ceases. The financial statements of subsidiaries are included in the consolidated financial statements using the acquisition method. The consideration for the acquisition of a subsidiary is the fair values of the assets transferred, the liabilities incurred and the equity interest issued by the Rūnanga. The consideration transferred includes the fair value of any asset or liability resulting from a contingent consideration arrangement. Acquisition related costs are expensed as incurred. Identifiable assets acquired and liabilities and contingent liabilities assumed in a business combination are measured initially at their fair values at the acquisition date. On an acquisition-by-acquisition basis, the Rūnanga recognises any non-controlling interest in the acquiree either at fair value or at the non-controlling interest’s proportionate share of the acquiree’s net assets. The surplus or deficit and each component of other comprehensive revenue and expense of subsidiaries are attributed to equity holders of the Rūnanga and to the non-controlling interests. Losses which result in non-controlling interests having a deficit balance are only attributed to non-controlling interests if the noncontrolling interests have a binding obligation and are able to make an additional investment to cover the losses.

Annual Report 2017 37

2 Summary of Significant Accounting Policies (Continued) Joint Venture Receivables

The joint ventures are established by a contractual agreement. The Rūnanga’s share of the net surplus of the joint ventures is recognised in the statement of comprehensive revenue and expense. The investment held on the statement of financial position reflects the Rūnanga’s share of net assets of the joint venture.

Transactions Eliminated on Consolidation

The effects of intra-group transactions are eliminated in preparing the consolidated financial statements.

B) REVENUE

Exchange transactions are transactions which one entity receives assets or services, or has liabilities extinguished, and directly gives approximately equal value in exchange. The Rūnanga enters into a number of exchange and nonexchange transactions, and the specific accounting policies are set out below:

Rental Income

Rental income is recognised in the statement of comprehensive income on a straight line basis over the term of the lease.

Grant and Funding Income

Grants and funding income (from the Government or other parties) are non-exchange transactions and are recognised in surplus or deficit when the Rūnanga becomes entitled to receive (or has received) the funds. The grants are recognised as revenue in the statement of comprehensive revenue and expense, except where conditions, which require the grant to be used as specified or returned, remain unfulfilled at balance date, in which case the related amount is recognised as a liability. In addition, a liability is recognised in respect of other return clauses (if any) where it is probable that payment will be required.

Farming Operations Income

Farming operations income includes dairy income and livestock sales. Income is recognised in surplus or deficit when the revenue associated with the transactions can be measured reliably. Revenues from the sale of goods are recognised when the significant risks and rewards of ownership have been transferred, the Group retains neither involvement nor control over the goods sold, it is probable that economic benefits will flow to the Group, and the costs incurred in respect of the transaction can be measured reliably.

Dividend Income

Dividend income is recognised in surplus or deficit on the date the Group’s right to receive payment is established.

38 Te Rūnanga o Ngāti Awa

Fair value gains and losses

Fair value gains and losses are calculated as the difference between the fair value at sale, or at period end, and the fair value at the previous valuation point or cost. This includes both realised and unrealised gains and losses, but does not include interest or dividend income. Fair value gains and losses are recognised in surplus or deficit.

Other Income

Other income is recognised in surplus or deficit when the revenue associated with the transactions can be measured reliably for the rendering of goods and services. Revenue from the sale of goods are recognised when the significant risks and rewards of ownership have been transferred, the Group retains neither involvement nor control over the goods sold, it is probable that economic benefits will flow to the Group, and the costs incurred in respect of the transaction can be measured reliably. Revenue for services provided under exchange transactions are recognised on a percentage of completion basis, as the services are provided.

Net Financing Income

Net financing income represents financing income less financing expenses. Financing income comprises interest income received on funds invested that are recognised in surplus or deficit. Financing expenses comprise interest paid on borrowings. Interest income is recognised in surplus or deficit as the income accrues on an effective interest basis. Any fees and directly related transaction costs that are an integral part of earning interest income are recognised over the expected life of the investment, that is, these costs are recognised evenly in proportion to the investment amount outstanding over the period to maturity.

C) EXPENSES Operating Leases

Operating lease payments where the lessor effectively retains substantially all the risks and rewards of ownership of the leased items are included in equal instalments over the term of the lease and expensed to surplus or deficit. Lease incentives received are recognised over the term of the lease as an integral part of the total lease payments.

Grants and sponsorships

Grants and sponsorship costs are recognised as an expense in surplus or deficit (and as a liability) when the Rūnanga has a constructive or actual obligation to make the payment. This is usually when the Rūnanga has entered into an agreement with, or otherwise notified the recipient of the agreed amount. The Rūnanga considers at each balance date whether it is probable that the recipient will be required to repay the grant or sponsorship under the terms and conditions of the agreement, in which case a receivable would be recognised and the grant expense reversed where this is recoverable.

2 Summary of Significant Accounting Policies (Continued) D) TAXATION Income Tax

E) CASH AND CASH EQUIVALENTS

Cash and cash equivalents includes deposits held at call with banks and other short term highly liquid investments with an original maturity of less than 3 months.

Income tax on surplus for the period relates to current tax. It is recognised in surplus or deficit as tax expense, except when it relates to items directly credited to equity, in which case it is recorded in equity, or where it arises from the initial accounting for a business combination, in which case it is included in the determination of goodwill.

F) TRADE AND OTHER RECEIVABLES

Current tax is the expected tax payable on taxable income for the period, based on tax rates (and tax laws) which are enacted or substantively enacted by the reporting date and including any adjustments for tax payable in previous periods. Current tax for current and prior periods is recognised as a liability (or asset) to the extent that it is unpaid (or refundable).

A provision for impairment of trade and other receivables is established when there is objective evidence that the Group will not be able to collect all amounts due according to the original terms of receivables.

Current tax assets and liabilities are offset only to the extent that they relate to income taxes imposed by the same taxation authority and there is a legal right and intention to settle on a net basis and it is allowed under tax law. Deferred tax assets and liabilities are recognised where the carrying amount of an asset or liability in the consolidated statement of financial position differs from its tax base, except for differences arising on: - The initial recognition of goodwill - The initial recognition of an asset or liability in a transaction which is not a business combination and at the time of the transaction affects neither accounting nor taxable profit, and - Investments in subsidiaries and jointly controlled entities where the Rūnanga is able to control the timing of the reversal of the difference and it is probable that the difference will not reverse in the foreseeable future. Recognition of deferred tax assets is restricted to those instances where it is probable that taxable profit will be available against which the difference can be utilised.

Māori Authority Tax Credits

The Group has Māori Authority status. Entities in the Group are tax exempt except for Ngāti Awa Asset Holdings Limited which has a tax liability of 17.5%. Taxes paid by Ngāti Awa Asset Holdings Limited generate Māori Authority Credits, which are tax credits available to pass onto its shareholder. Te Rūnanga o Ngāti Awa recognises a tax receivable from the IRD for the Māori Authority Credits received from Ngāti Awa Asset Holdings Limited in the period in which the credits have been distributed.

Trade and other receivables are recognised initially at fair value and subsequently measured at amortised cost on an effective interest basis, less provision for doubtful debts. Bad debts are written off during the year in which they are identified.

G) LIVESTOCK

Livestock is carried at fair value where fair value is based on the market price of livestock of similar age and gender. Gains and losses on changes in fair value are recognised in surplus or deficit. Livestock consists of sheep and cattle.

H) INVESTMENTS

Investments are carried at fair value unless they are not quoted in an active market and their fair value cannot be reliably measured. The fair value of such investments is reliably measurable where the variability in the range for a reasonable fair value estimate is not significant or probabilities of the various estimates within the range of fair values can be reasonably assessed and used in estimating fair value. Investments in subsidiaries are carried at cost.

I) INVESTMENT PROPERTIES

Investment properties are stated at fair value. Any movement on revaluation is recognised in surplus or deficit.

J) BIOLOGICAL ASSETS Farm Woodlot

The Farm Woodlot asset represents standing trees at fair value less estimated point of sale costs. The farm woodlot asset is a consumable biological asset. Any movement in valuation is recognised in the statement of comprehensive revenue and expense in surplus or deficit.

K) FORESTRY LAND ASSETS

Forestry land assets represent the land assets owned with long term licences to forestry companies. Forestry land assets are stated at fair value. Any movement in fair value is recognised in the statement of comprehensive revenue and expense in surplus or deficit.

Annual Report 2017 39

2 Summary of Significant Accounting Policies (Continued) L) INTANGIBLE ASSETS Carbon credits

Intangible assets include carbon credits acquired by way of a Government grant and are recognised at fair value. Increases in the carrying amount arising on revaluation are credited to other comprehensive revenue and expense except to the extent they reverse a previous decrease recognised in surplus or deficit. Decreases in the carrying amount arising on revaluation are recognised in other comprehensive revenue and expense to the extent they reverse a previous increase, any further decrease will be recognised in surplus or deficit.

Fish quota

Fish quota shares received by way of settlement are recognised at their fair value at the date of settlement and subsequently carried at cost less impairment. Fish quota is issued into perpetuity and therefore has an indefinite life. Given this, fish quota is not amortised, although it is tested annually for impairment.

Goodwill

Goodwill that arises on the acquisition of subsidiaries and other business combinations is presented within intangible assets.

Subsequent measurement

Goodwill is measured at cost less accumulated impairment losses.

License

The exclusive Whakaari/White Island landing license has a finite useful life and is initally recognised at fair value. Subsequently it is measured at cost less accumulated amortisation and any accumulated impairment losses.

Amortisation

Amortisation is recognised in the income statement on a straight-line basis over the estimated useful lives of intangible assets, other than goodwill, from the date that they are available for use. The estimated useful lives for the current and comparative periods are as follows: - Whakaari/White Island Landing License 18 years

M) PROPERTY, PLANT & EQUIPMENT

All owned items of property, plant and equipment are recorded at cost less accumulated depreciation and impairment losses with the exception of the Ngāti Awa Farm which is recorded at deemed cost. Subsequent costs are included in the asset’s carrying amount or recognised as a separate asset, as appropriate, only when it is probable that future economic benefits or service potential associated with the item will flow to the Group and the cost of the item can be measured reliably.

40 Te Rūnanga o Ngāti Awa

Cultural Assets

The cultural assets category includes carvings and flax tukutuku, these assets have been recorded at deemed cost. Te Mānuka Tūtahi Marae is carried at an assigned value on receipt from the Crown plus capital improvements. As cultural assets tend to have an indefinite life and are generally not of a depreciable nature, depreciation is not applicable.

N) DEPRECIATION

Depreciation is recognised in the statement of comprehensive income on a straight-line basis over the estimated useful lives of each part of an item of property, plant and equipment. Depreciation is used to allocate the cost (deemed cost), less any residual value, over an asset’s useful life. Land and Cultural Assets are not depreciated. The estimated useful lives for the current and comparative periods are as follows: Buildings

years

Motor vehicles & Vessels

3 - 15

years

Office furniture & equipment

3 - 10

years

Farm equipment

3 - 20

years

Cultural assets n/a Depreciation methods, useful lives and residual values are reassessed at every reporting date.

O) FINANCIAL ASSETS Classification The Group classifies its financial assets as “financial assets at fair value through surplus or deficit”, “loans and receivables”, and “other financial assets designated as available-for-sale”. The classification depends on the purpose for which financial assets were acquired. Management determines the classification of its financial assets at initial recognition and re-evaluates this designation at every reporting date.

(i) Financial Assets at Fair Value through Surplus or Deficit

Financial assets designated at fair value through surplus or deficit at inception are financial instruments that are not classified as held for trading but are managed, and their performance is evaluated on a fair value basis in accordance with the Group’s documented investment strategy.

2 Summary of Significant Accounting Policies (Continued) (ii) Loans and Receivables

Loans and receivables are non-derivative financial assets with fixed or determinable payments that are not quoted on an active market. They arise when the Group provides money, goods, or services directly to a debtor with no intention of selling the receivable. They are included in current assets, except for those with maturities of greater than twelve months after the statement of financial position date which are classified as non-current assets. Loans and receivables are included in trade and other receivables and owing by subsidiaries in the statement of financial position.

(iii) Other Financial Assets Designated as Available-For-Sale

Other financial assets designated as available-for-sale are non-derivatives that are either designated in this category or not classified in any of the other financial asset categories. They are included in non-current assets unless management intends to dispose of the investment within twelve months of the balance date. Recognition and Measurement Purchases and sales of financial assets are recognised on trade date - the date on which the Group commits to purchase or sell the asset. Investments are initially recognised at fair value plus transaction costs for all financial assets not carried at fair value through surplus or deficit. Financial assets carried at fair value through surplus or deficit are initially recognised at fair value, and transaction costs are expensed in surplus or deficit. Financial assets are de-recognised when rights to receive cash flows from the financial assets have expired or have been transferred and the Group has substantially transferred all the risks and rewards of ownership. Financial assets carried at fair value through surplus or deficit are subsequently carried at fair value. Loans and receivables are carried at amortised cost. Realised and unrealised gains and losses arising from changes in the fair value of the financial assets are included in surplus or deficit in the period in which they arise. Changes in the fair value of other financial assets classified as available-forsale are recognised in the revaluation reserve unless there are permanent impairment losses which are recognised directly in surplus or deficit. When securities are sold or impaired, the accumulated fair value adjustments are included in surplus or deficit.

The Group assesses at each balance date whether there is objective evidence that a financial asset or group of financial assets is impaired. In the case of equity and fixed interest securities classified as other financial assets designated as available-for-sale, a significant or prolonged decline in the fair value of a security below its cost is considered in determining whether the security is impaired. If any such evidence exists for other financial assets, the cumulative loss (measured as the difference between the acquisition cost and the current fair value, less any impairment loss on that financial asset previously recognised in surplus or deficit) is removed from equity and recognised in surplus or deficit. Impairment losses recognised on equity instruments are not reversed through surplus or deficit. Derivative financial instruments The Group uses derivative financial instruments to hedge its exposure to price risks arising from operational activities. In accordance with its hedging policy, the Group does not hold or issue derivative financial instruments for trading purposes. However, derivatives that do not qualify for hedge accounting are accounted for as financial instruments designated at fair value through Surplus or Deficit. Derivative financial instruments are recognised initially at fair value and transaction costs are expensed immediately. Subsequent to initial recognition, derivative financial instruments are stated at fair value. Where derivatives qualify for hedge accounting, recognition of any resultant gain or loss depends on the nature of the hedging relationship (see below).

Cash flow hedges

Changes in the fair value of the derivative hedging instrument designated as a cash flow hedge are recognised in other comprehensive income and presented in equity in the hedging reserve to the extent that the hedge is effective. To the extent that the hedge is ineffective, changes in fair value are recognised in the Surplus or Deficit. If the hedging instrument no longer meets the criteria for hedge accounting, expires or is sold, terminated or exercised, then hedge accounting is discontinued prospectively. The cumulative gain or loss previously recognised in equity remains there until the forecast transaction occurs. The amount recognised in equity is transferred to the Surplus or Deficit in the same period that the hedged item affects the Surplus or Deficit.

Annual Report 2017

2 Summary of Significant Accounting Policies (Continued) P) MEASUREMENT OF NON-FINANCIAL ASSETS The carrying amounts of the Group’s non-financial assets are reviewed at each balance date to determine whether there is any indication of impairment. If any such indication exists, the recoverable amount or recoverable service amount (“recoverable amount”) of the asset is estimated. If the estimated recoverable amount of an asset is less than its carrying amount, the asset is written down to its estimated recoverable amount and an impairment loss is recognised in the statement of comprehensive revenue and expense in surplus or deficit. The estimated recoverable amount of assets is the greater of their fair value less costs to sell and value in use. For assets which are held for a commercial return, value in use is determined by estimating future cash flows from the use and ultimate disposal of the asset and discounting these to their present value using a pre-tax discount rate that reflects current market rates and the risks specific to the asset. For an asset that does not generate largely independent cash flows, the recoverable amount is determined for the cash generating unit to which the asset belongs. For assets which are not held for a commercial return, value in use is determined by estimating the depreciated replacement cost of the asset. The depreciated replacement cost is measured as the reproduction or replacement cost of the asset, whichever is lower, less accumulated depreciation calculated on the basis of such cost, to reflect the already consumed or expired service potential of the asset. An impairment loss on non-financial assets which are carried at fair value is applied to the other comprehensive revenue and expense but only to the extent that prior year gains are available to offset the impairment loss. All other impairment losses are recognised in statement of comprehensive revenue and expense in surplus or deficit. Q) TRADE AND OTHER PAYABLES Trade and other payables are measured initially at fair value and subsequently at amortised cost using the effective interest method. R) TERM LOANS Term loans are recognised initially at fair value, net of transaction costs incurred. Term loans are subsequently stated at amortised cost. If the Group does not have an unconditional right to defer payment of a liability for at least twelve months after balance date, then the term loan will be classified as a current liability.

42 Te Rūnanga o Ngāti Awa

S) EMPLOYEE BENEFITS Salaries, Wages and Annual Leave

Liabilities for wages and salaries, including non-monetary benefits annual leave and expected to be settled within twelve months of reporting date, are recognised in other payables in respect of employees’ services up to the reporting date and are measured at the amounts expected to be paid when the liabilities are settled. Liabilities for non-accumulating sick leave recognised when the leave is taken and measured at the rates paid or payable. Long Service Leave Long service leave benefits are accrued in other payables using the present value of net future cash flows. T) GOODS AND SERVICES TAX These financial statements have been prepared on a basis exclusive of GST with the exception of trade receivables and trade payables that have been included on a GST inclusive basis. 3 Business Combination On 1 May 2017, the Group acquired the business of White Island Tours, a tour operator in Whakatane which has the exclusive rights to land passenger vessels on White Island. Identifiable Assets Acquired The following table summarises the assets acquired at the date of acquisition. Assets acquired

Asset Category

White Island Rendezvous Motel

Land and buildings

Passenger Vessels

Motor Vehicles

Fittings and Chattels

Office Equipment and Plant

Landing Rights

Intangible Asset

Goodwill Intangible Asset 4 Fair Value Estimation The fair value of financial instruments traded in active markets is based on quoted market prices at the statement of financial position date. The quoted market price used for financial assets held by the Group is based on the current bid price. The fair value of financial and non-financial assets that are not traded in an active market is determined by using valuation techniques. The Group uses a variety of methods and makes assumptions that are based on market conditions existing at balance date. Techniques include estimated discounted cash flows which are used to determine fair value for the financial instruments with no quoted market price.

4 Fair Value Estimation (Continued) The face value less impairment provision of trade receivables and payables are assumed to approximate their fair values. The fair value of financial liabilities for disclosure purposes is estimated by discounting the future contractual cash flows at the current market interest rate that is available to the Group for similar financial instruments.

5 Critical Accounting Estimates and Judgements Estimates and judgments are continually evaluated and are based on historical experience and other factors, including expectations of future events and are believed to be reasonable under the circumstances. The Group makes estimates and assumptions concerning the future. The resulting accounting estimates will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are discussed below.

6 Revenue Grant income Dividend income Farming operations income Rental income Revenue from the rendering of services Revenue from the sale of goods Other income

Impairment

The Group tests annually whether an asset is impaired by assessing whether events or circumstances indicate the carrying value may not be recoverable. Indefinite life intangibles and intangibles not yet available for sale are tested for impairment annually. Investment property The fair value of investment property is determined by a combination of independent valuers and internally assessed investment models. Key assumptions have been disclosed in Note 20. Investments The fair value of investments that are not traded in an active market are determined by using valuation techniques. Key assumptions have been disclosed in Note 17. The Group has used discounted cash flow analyses for various financial assets that were not traded in active markets. Forestry land Forestry land assets are held at fair value determined periodically using internally assessed investment models. Key assumptions have been disclosed in Note 22. 2017 $000’s 388 1,054 3,821 1,752 500 89 508 8,112

7 Net Financing Income 2017 $000’s

Group

2016 $000’s 219 927 3,141 1,711 644 6,642

Parent 2017 2016 $000’s $000’s 388 160 1,000 1,501 32 42 62 4 91 246 1,577 1,949

2016 $000’s

2017 $000’s

Parent

2016 $000’s

Interest income Total financing income

445 445

684 684

500 500

508 508

Interest expense Net loss in fair value of derivatives designated at fair value through the income statement Total financing expense

522

523

192

714

523

(269)

161

500

508

Net financing (expense)/income

Annual Report 2017 43

8 Expenses 2017 $000’s Administration fees Audit, finance and risk committee Auditors remuneration (PricewaterhouseCoopers) - Audit fees - Assistance with financial Statement preparation Auditor’s remuneration (KPMG) Bad debts Board members fees and expenses Catering Celebrations Consultants fees - Accounting and tax - Farm advisory - Legal - Other Amortisation Depreciation Farming operations expenditure Fixed asset sale loss Grants and sponsorships Insurance Operating leases Power & heating Rates Rent Repairs & maintenance Telecommunication expenses Travel and accommodation Vehicle Wages and salaries Other expenses

Group

2016 $000’s

2017 $000’s

Parent

2016 $000’s

262 46

246 35

30 6

39 11

155

11 111 1 593 35 26 190 21 162 409 19 810 1,694 230 166 152 141 226 3 377 30 32 71 1,350 658 7,826

174 52 506 39 68 521 24 244 367 594 1,473 7 210 145 212 145 228 3 286 35 62 70 1,560 436 7,742

25 1 236 33 26 1 50 138 293 230 37 18 5 3 14 20 14 17 664 455 2,316

25 7 213 39 68 23 171 228 292 1 210 44 20 6 39 35 31 29 17 1,219 251 3,018

9 (Impairment)/ Writeback of Impairment

During the year, the Group recognised the following impairments and write back of impairments of its assets:

Carbon credit write back of impairment / (Impairment charge)

Note 24

2017 $000’s

Group

(118)

2016 $000’s

2017 $000’s

1,987

Parent

2016 $000’s

10 Fair Value Gains / (Loss)

During the year the Group and Parent recognised the following movements in its assets recognised at fair value.

Listed shares Bonds Unlisted shares Biological assets Investment properties revaluation Livestock movement Other

44 Te Rūnanga o Ngāti Awa

Note

21 20 16

2017 $000’s

Group

1,756 283 124 1,247 230 1,176 87 4,903

2016 $000’s (747) 1,306 476 147 17 1,199

2017 $000’s

Parent

2016 $000’s 10 10

11 Tax Expense Reconciliation of the prima facie income tax payable on surplus with the income tax expense charged: 2017 $000’s Surplus/(deficit) before tax for the year Exempt (gain)/loss from charitable activities Taxable surplus/(deficit) before tax for the year Income tax expense at 17.5% on taxable surplus, (2016: 17.5%) Non-taxable income Imputation credits Income tax expense/(credit)

Group

2016 $000’s

2017 $000’s

Parent

2016 $000’s

3,533 216 3,749

1,015 216 1,231

(239) 239 -

(551) 551 -

656

215

(506) (174) (24)

(43) (146) 26

12 Equity Group 30 June 2017 Balance at the beginning of the year Surplus/(deficit) for the year Revaluation gains/(losses) - Bond portfolio - Carbon credits - Fonterra Co-operative Group Limited Shares - Other shares Effective portion of changes in fair value of cash flow hedges Distribution during the year Balance at the end of the year

NonControlling Interest $000’s 8,518 305

Asset Revaluation Reserves $000’s

Cash Flow Hedge Reserve $000’s

Accumulated Revenue and Expense $000’s

Total Equity $000’s

13,038 -

92,476 3,252

114,032 3,557

(323) (193)

118

186

304

(26)

(40)

(66)

(2,100) 6,815

12,710

(40)

95,728

(2,100) 115,213

8,924 51

9,488 -

92,038 938

110,450 989

43 3,282

143

225

368

(600) 8,518

13,038

(500) 92,476

(1,100) 114,032

30 June 2017 Balance at the beginning of the year Distribution during the year Surplus/(deficit) for the year Balance at the end of the year

8,044 8,044

74,241 (239) 74,002

82,285 (239) 82,046

30 June 2016 Balance at the beginning of the year Distribution during the year Surplus/(deficit) for the year Balance at the end of the year

8,044 8,044

75,292 (500) (551) 74,241

83,336 (500) (551) 82,285

30 June 2016 Balance at the beginning of the year Surplus/(deficit) for the year Revaluation (losses) / gains - Bond portfolio - Carbon credits - Fonterra Co-operative Group Limited Shares Distribution during the year Balance at the end of the year Parent

Annual Report 2017 45

13 Reserves Reserves are comprised of: Asset Revaluation Reserves 30 June 2017 Effective portion of changes in fair value of cash flow hedges Bonds portfolio Farm land and buildings Fonterra shares Other financial assets Te Mānuka Tūtahi Carbon credit revaluation Cash Flow Hedge Reserves 30 June 2016 Effective portion of changes in fair value of cash flow hedges

2017 $000’s

Group

2016 $000’s

2017 $000’s

Parent

2016 $000’s

7,459 411 2 585 4,253 12,710

323 7,459 225 585 4,446 13,038

7,459 585 8,044

2017 $000’s

Group

2016 $000’s

(40)

2017 $000’s -

Parent

2016 $000’s

14 Cash and Cash Equivalents 2017 $000’s Bank On-call deposits Short term deposits

2,184 488 5,311 7,983

15 Trade and Other Receivables 2017 $000’s Trade and other receivables Taxation receivable GST receivable There are no non-exchange trade and other receivables.

46 Te Rūnanga o Ngāti Awa

Group

1,676 110 1,786

2016 $000’s 2,407 1,413 11,447 15,267

2016 $000’s 929 54 32 1,015

2017 $000’s

Parent

2016 $000’s

15 15

2017 $000’s

Parent

166 29 195

5 5

2016 $000’s 154 43 197

16 Livestock on Hand 2017 $000’s Cattle Sheep

Group

2016 $000’s

2017 $000’s

Parent

2016 $000’s

3,270 248 3,518

2,734 232 2,966

2,966 256 (880) 346 830 3,518

3,586 465 (1,232) 271 (124) 2,966

Movements are represented as follows: Balance at the beginning of the year Increase due to acquisitions Decrease due to sales Increase due to births/(deaths) Change in fair value Balance at the end of the year

At 30 June 2017, livestock held for sale comprised 506 cattle (2016: 554) and 1,965 sheep (2016: 2,074). During the year ended 30 June 2017, the Group sold 258 cattle (2016: 399) and 2,108 sheep (2016: 1,998). At 30 June 2017, dairy livestock held comprised 1,858 dairy cattle (1,235 cows & 623 heifers) (2016: 1,824 dairy cattle (1,121 cows & 703 heifers). During the year ended 30 June 2017, the Group sold 320 dairy cattle (2016: 352).

17 Investments Current Assets - Unit Trusts Non-Current Assets - Bonds - Listed shares - Unlisted shares - Subsidiaries - Joint ventures - Limited partnership

Note

18 19

2017 $000’s

Group

2016 $000’s

2017 $000’s

Parent

2016 $000’s

627

433

21,154 6,561 105 588 28,408

3,074 17,990 4,144 158 588 25,954

51,906 51,906

The unit trusts classified as a current asset relate to the investment in the Taurus Resources Fund No.2 Ltd. It is the Group’s intention to realise all investments in the Unit Trust as soon as practically possible. The amounts realised may vary from the current valuation, depending on the realised price at the date of sale. The Unit Trust has been valued based on the market value of the tradeable shares held in the Trust. The ICP Koura Facilities Limited Partnership and ICP Koura Operations Limited Partnership is an investment vehicle which was formed to invest into crayfish quota. The fair value of the investment is based on cash flows calculated on an annual basis from 2018 to 2022, and a terminal value based on cash flows in 2022 with an assumed growth factor of 1.5% p.a. (2016: 1.53%) and a post-tax discount rate of 5.6% (2016: 5.6%).

Annual Report 2017 47

18 Investments in Unlisted Shares Investment in unlisted shares includes Moana New Zealand Limited shares (“the MNZ shares”) that were received on 30 March 2006 as part of the settlement proceeds in accordance with the Māori Fisheries Act 2004. The Māori Fisheries Act 2004 places restrictions on the sale of the MNZ shares where the shares can only be sold to either another Mandated Iwi Organisation or Te Ohu Kai Moana. The fair value of the MNZ income shares is based on cash flows calculated on an annual basis from 2018 to 2022, and a terminal value based on cash flows in 2022 with an assumed growth factor of 1.53% p.a. (2016: 1.46% p.a.) and a post-tax discount rate of 5.6% (2016: 5.6%). The MNZ shares are not actively traded and have no voting rights, due to this and the restrictions on sale, a further discount of 30% has been applied to determine the fair value. The shares have been valued at $2.08 million (2016: $2.08 million). The Group has invested in Direct Capital IV Limited Partnership. Direct Capital IV invests in private equity opportunities with the intention of realising these investments and returning capital and capital gains to the partners over a 10 year time frame. There is no active market for shares in Direct Capital IV, therefore the fair value has been calculated using an EBITDA multiple approach of the underlying investments held by Direct Capital IV. The manager of Direct Capital IV Limited Partnership applies Australian Venture Capital & Private Equity Association (AVCAL) valuation guidelines in preparing quarterly valuations for all portfolio companies. The Partnership is valued at $1.55 million (2016: $2.06 million). During the year, the Partnership repaid capital of $0.63 million to the Group (2016: $3.01 million). The Group has invested in Pencarrow Bridge Fund LP. Pencarrow invests in private equity opportunities with established New Zealand based companies that offer a clear and sustainable competitive advantage. There is no active market for shares in Pencarrow Bridge Fund LP, therefore the investment is held at cost which management consider fair value. The Partnership is valued at $2.42 million (2016: $Nil). The Group has invested in HoneyLab which undertakes research into medical uses of Honey and other products from bees. There is no active market for shares in HoneyLab, therefore the fair value of the investment is held at cost which management consider fair value at this early stage of investment. The investment in the company is valued at $0.5 million (2016: $Nil).

19 Investment in Joint Ventures 2017 $000’s Mataatua Fisheries Collective

Group

2016 $000’s

2017 $000’s

Parent

2016 $000’s

105

158

Balance of Joint Venture Balance at the beginning of the year

158

146

Capital repaid Share of net surplus Balance at the end of the year

(60) 7 105

12 158

Mataatua Fisheries Collective

The Mataatua Fisheries Collective relates to the monies held on behalf of the Group by the Mataatua Fisheries Collective. It has been included as at the annual balance date of the Mataatua Fisheries Collective of 31 March 2017 adjusting for any significant transactions between 31 March and the Groups balance date. The Mataatua Fisheries Collective (“Collective”) is an unincorporated joint venture between iwi in the Mataatua rohe to lease fish quota to maximise returns. The Collective pays the Mataatua Quota ACE Holdings Limited a commission to undertake the leasing on its behalf. The joint venture has a different balance date from the Group due to the joint venture having a standard balance date which is aligned with the income tax year. The commencement of the fishing season for the majority of fish stocks begins in April with new fish leasing arrangements.

48 Te Rūnanga o Ngāti Awa

20 Investment Properties 2017 $000’s

Group

2016 $000’s

2017 $000’s

Parent

2016 $000’s

Investment Properties

10,265

10,035

Movements in Investment Properties are represented as follows: Balance at the beginning of the year Revaluation gains Balance at the end of the year

10,035 230 10,265

9,559 476 10,035

330 465 210 765 375 2,145

320 435 210 680 270 1,915

168 1,666 1,400 1,000 895 2,300 691 8,120

10,265

10,035

Investment Properties comprise: Land and Buildings 1-3 Toroa Street 5-7 Toroa Street 9-11 Toroa Street 13-17 Toroa Street 64 Wairaka Street Land Te Whare Wananga o Awanuiārangi Apanui School Army Hall Ōhope Beach School Ōhope Beach Holiday Park Whakatāne High School Whakatāne Court House Total Investment Properties

Residential properties on Wairaka and Toroa Streets (except 9-11 Toroa St) were independently valued as at 30 June 2017 by Boyes James McKay Limited. The valuation was based on market evidence of transactions for similar properties and direct comparison. The properties were not independently revalued in 2016. For the 2017 financial statements, management assessed the value of 9 - 11 Toroa St in comparison to the other Toroa Street properties based on the average value per square meter. Management assessed the fair value of land using an assumed rental yield of 6% for those properties that are tenanted and concluded no change in valuation was required. The 2015 and 2017 valuers are independent registered valuers not related to the Group. All valuers hold recognised and relevant professional qualifications and have recent experience in the locations of the investment property they have valued. The rent on Whakatāne, Ōhope, and Apanui Schools were reviewed in April 2016 as per the respective rental agreements with the Ministry of Education. The initial valuations received by Ngāti Awa Properties and the Ministry of Education indicated a difference in the value of each of the three properties. As a consequence, a subsequently negotiated mid-point between the two valuations is adopted as the fair market value in these financial statements.

Annual Report 2017 49

21 Biological Assets Pine Woodlot Woodlot Assets Movements are represented as follows: Balance at the beginning of the year Revaluation gains Balance at the end of the year

2017 $000’s

Group

2016 $000’s

2017 $000’s

Parent

2016 $000’s

2,028

781

781 1,247 2,028

781 781

The pine woodlot was independently valued on 30 June 2017 by PF Olsen Limited. The valuation used a discounted cash flow method with a post tax discount rate of 6.5%. The Mānuka plantation was independently valued on 30 June 2017 by PF Olsen Limited. The valuation used a discounted cash flow rate of 15% and an inflation rate of 2%.

22 Forestry Land Assets 2017 $000’s Forestry Land Assets

Group

2016 $000’s

2017 $000’s

Parent

2016 $000’s

17,305

17,305 17,305

19,900 (2,595) 17,305

2,595 (2,595) -

Movements are represented as follows: Balance at the beginning of the year Revaluation gains Reclassified to assets held for distribution Balance at the end of the year

The forestry land assets were independently valued on 30 June 2015 by Telfer Young (Rotorua) Limited. The valuation used a mixture of market evidence of transactions for similar assets, direct comparison, capitalisation and discounted cash flow approaches. Management undertook a desktop valuation in 2017 at a post tax discount rate of 6.9% (2016: 6.9%) to determine forestry land assets are held at fair value. The Group leases forestry land to various counterparties for terms of 35 years and accounts for these as operating leases.

50 Te Rūnanga o Ngāti Awa

23 Property, Plant & Equipment Group 30 June 2017

Cultural Assets $000’s Cost

Balance at the beginning of the year Additions (cost) Disposals (NBV) Impairment write backs/(losses) Depreciation Balance at the end of the year Cost or valuation Accumulated impairment losses Accumulated depreciation Net Book Value

Land $000’s Cost

Motor Vehicles & Vessels $000’s Cost

Buildings $000’s Cost

30 June 2016 Balance at the beginning of the year Additions (cost) Disposals (NBV) Depreciation Balance at the end of the year Cost or valuation Accumulated impairment losses Accumulated depreciation Net Book Value

Total $000’s

7,026

23,370

8,023

213

1,920

40,552

1,906 -

4,110 -

4,343 -

303 -

10,662 -

(400)

(86)

(324)

(810)

7,026

25,276

11,733

4,470

1,899

50,404

7,026

25,276

14,226

4,792

3,594

54,914

(120)

(2,493)

(322)

(1,575)

(4,390)

7,026

25,276

11,733

4,470

1,899

50,404

Property, Plant & Equipment Group

Office Equipment & Plant $000’s Cost

Cultural Assets $000’s Cost

Land $000’s Cost

Motor Vehicles & Vessels $000’s Cost

Buildings $000’s Cost

Office Equipment & Plant $000’s Cost

Total $000’s

7,026

23,382

8,350

240

1,922

40,920

(12) -

22 (349)

24 (7) (44)

199 (201)

245 (19) (594)

7,026

23,370

8,023

213

1,920

40,552

7,026

23,370

10,116

449

3,291

44,252

(120)

(2,093)

(236)

(1,251)

(3,580)

7,026

23,370

8,023

213

1,920

40,552

Annual Report 2017

23 Property, Plant & Equipment (continued) Parent 30 June 2017

Cultural Assets $000’s Cost

Land $000’s Cost

Vehicles & Vessels $000’s Cost

Buildings $000’s Cost

Equipment & Plant $000’s Cost

Total $000’s

Balance at the beginning of the year Additions (cost) Disposals (NBV) Depreciation Balance at the end of the year

7,026

10,205

5,053

292

22,576

(230)

20 (63)

20 (293)

7,026

10,205

4,823

249

22,303

Cost or valuation Accumulated impairment losses

7,026

10,205

6,271

1,024

24,576

(117)

(1,448)

(50)

(658)

(2,156)

7,026

10,205

4,823

249

22,303

Accumulated depreciation Net Book Value

Parent 30 June 2016

Cultural Assets $000’s Cost

Land $000’s Cost

Motor Vehicles & Vessels $000’s Cost

Buildings $000’s Cost

Office Equipment & Plant $000’s Cost

Total $000’s

Balance at the beginning of the year Additions (cost) Disposals (NBV) Depreciation

7,026

10,205

5,283

344

22,860

(230)

(1) (1)

9 (61)

9 (1) (292)

Balance at the end of the year

7,026

10,205

5,053

292

22,576

Cost or valuation Accumulated impairment losses

7,026

10,205

6,271

1,004

24,556

(117)

(1,218)

(50)

(595)

(1,863)

7,026

10,205

5,053

292

22,576

Accumulated depreciation Net Book Value

Land The farm land is restricted in use by the land having been vested to the Rūnanga under the Māori Land Court, ensuring that the land is retained for nga uri o nga hapū o Ngāti Awa and is not able to be alienated. The net book value of the land is $8,350,000 (2016: $8,350,000). Te Mānuka Tūtahi land is restricted in use by the land having been vested to the Rūnanga under the Māori Land Court, ensuring that the land is retained for the purpose of a meeting place of cultural and historical importance for the communal use and benefit of ngā uri o ngā hapū o Ngāti Awa. The net book value of the land is $786,500 (2016: $786,500). Cultural Assets The following cultural land assets were received as part of the settlement claim, and previously formed parts of historic, scenic, and recreation reserves (with the exception of the former Matahina A4 Block). These land assets were received at no cost. Kaputerangi (4.9321 hectares) Te Paripari Pa (1.0451 hectares) Otitapu Pa (6 hectares approximately) Te Toangopoto (10 hectares approximately)

52 Te Rūnanga o Ngāti Awa

Te Ihukatia (1.1 hectares approximately) Whakapaukorero (30 hectares approximately) Former Matahina A4 Block (4,045 square metres)

24 Intangible Assets Group 30 June 2017 Balance at the beginning of the year Acquisitions Amortisation Revaluation Balance at the end of the year

30 June 2016 Balance at the beginning of the year Revaluation Reclassified to assets held for distribution Balance at the end of the year Parent 30 June 2017 Balance at the beginning of the year Revaluation Reclassified to assets held for distribution Balance at the end of the year

30 June 2016 Balance at the beginning of the year Revaluation Reclassified to assets held for distribution Balance at the end of the year

Fish Quota $000’s

Carbon Credits $000’s

3,520 3,520

8,493 (310) 8,183

Fish Quota $000’s

Carbon Credits $000’s

3,520 3,520

Goodwill

License

Total

$000’s

2,898 2,898 Goodwill

Fish Quota $000’s

Carbon Credits $000’s -

Goodwill

Carbon Credits $000’s 410 662 (1,072) -

$000’s -

License

$000’s

$000’s -

Goodwill

License

$000’s

$000’s -

7,154 5,931 (1,072) 12,013 Total

$000’s -

12,013 4,907 (19) (310) 16,591 Total

$000’s -

Fish Quota $000’s

License

$000’s

3,634 5,931 (1,072) 8,493

2,009 (19) 1,990

Total

$000’s 410 662 (1,072) -

Whakatāne Airport The Rūnanga has a right to receive at no cost the Whakatāne airport land if the use of the land ceases to be that of an airport. There is nil value attached to the right to purchase. Radio Frequency The radio frequency licence used by Te Reo Irirangi o Te Mānuka Tūtahi is issued to the Rūnanga. This asset has nil value. Fish Quota Fish quota is an intangible asset that provides annual catch entitlements for fish stock species. The quota is issued into perpetuity and has been classed as an indefinite life asset. The asset is not amortised, it is tested annually for impairment. The recoverable amount of the fish quota has been determined as the cash generating unit associated with the asset. Cash flows have been projected into perpetuity using a long term growth rate of inflation of 1.53% (2016: 1.46%) and discounted using the entity’s post tax weighted average cost of capital of 5.6% (2016: 5.6%). The carrying value of the fishing quota is $3,519,524 (2016: $3,519,524). Management does not expect that a reasonable change in key assumptions would result in a material reduction in the recoverable amount of the fish quota below its carrying amount.

Annual Report 2017 53

24 Intangible Assets (continued) Carbon Credits The New Zealand Emission Trading Scheme (ETS) became law on 26 September 2008 with the passing of the Climate Change Response (Emissions Trading) Amendment Act 2008 (the Act). The Act was amended during 2010 with the passing of the Climate Change Response (Moderated Emissions Trading) Amendment Bill on 25 November 2010. Under the provisions of the Act, the Group is a deemed participant in the ETS, as it is an owner of pre-1990 forest land. The Act provided for an allocation of 60 New Zealand carbon units (NZUs) per hectare to be transferred to the Group. Based on this allocation, the Group received 477,647 NZUs. The Act provided for the credits to be transferred in two tranches. The Group recognised the allocation of the first tranche of NZUs as government grant income in surplus or deficit in 2010, as the allocation was considered to represent compensation of the lower value of land already incurred. The carbon credits are assessed as having an indefinite life as they have no expiry date, and the Group is able to either hold the NZUs within the carbon register or alternatively trade the NZUs in domestic or international carbon markets. The second tranche of NZUs was recognised by the Group as government grant income in surplus or deficit in November 2012. This allocation was recognised as a result of the Climate Change Response Amendment Act 2012, which was passed into law on 13 November 2012. This amendment removed the previous uncertainty around the recognition of pre-1990 forestry allocations. Under the ETS, the Group will have an obligation to account for any emission released as a consequence of deforestation of pre-1990 forest land, by surrendering NZUs equal to the extent of that emission. The Group has no liability for deforestation as at 30 June 2017 (2016: nil). An active market exists for carbon credits and they are recognised at fair value based on quoted prices as at 30 June 2017. The Rotoehu West forest was held by the Rūnanga on behalf of the Ngāti Hikakino and Ngāi Te Rangihouhiri II Hapū (Note 27). The forest entitles the Hapū to an allocation of 60,373 NZUs. The Group has transferred the ownership of the forest land to the Rotoehu Forest Trust. The Group still holds the carbon credits associated with the forest and will transfer them to the Rotoehu Forest Trust when they have completed registration with the Ministry for the Environment. The actual number of carbon credits transferred to the Hapū may differ depending on the independently surveyed land area. The value of carbon credits held on behalf of the Hapū as at 30 June 2017 is $1,032 million (2016: $1,072 million), refer to note 27. Goodwill Goodwill has arisen on the purchase of White Island Tours. The goodwill is the difference between the fair value of the identifiable net assets and price paid on acquisition. License The license relates to the landing rights included in the purchase of White Island Tours. The rights have initially been recongised at fair value. The landing rights have been independently valued on 30 June 2017 by Crowe Horwath (NZ) Limited. The valuation used a discounted cash flow applying a post tax discount rate of 11.4%.

25 Trade and Other Payables Trade payables Accrued expenses Gst payable Distribution to hapū There are no non-exchange trade and other payables.

54 Te Rūnanga o Ngāti Awa

Group 2017 2016 $000’s $000’s 773 426 500 598 12 73 500 1,358 1,524

Parent 2017 2016 $000’s $000’s 220 83 62 262 73 500 355 845

26 Income Received in Advance Current Liabilities Forestry rentals Access rights Property rentals Other Non-Current Liabilities Access rights Property rentals

2017 $000’s

Group

2016 $000’s

2017 $000’s

Parent

2016 $000’s

875 143 293 39 1,350

854 143 343 86 1,426

17 17

70 70

3,178 970 4,148

3,321 980 4,301

There are no non-exchange items of income received in advance. Access rights relate to $5 million in relation to the Bonisch Road settlement received during 2010. This is being amortised over 35 years (2016: 35 years), beginning 1 October 2005, which is the period of access rights granted under the settlement. The non-current liability for property rentals relate to a lease of land to the Te Whare Wānanga O Awanuiārangi. The lease is for a term of 100 years and the rental of $1 million was paid in advance. Rental income is being recognised on a straight line basis over 100 years, beginning 1 July 2015. Forestry rentals relate to the lease of land at Northern boundary and Rotoehu East. This lease is paid in advance for the following year and the income is recongnised on a straight line basis.

27 Ngāti Hikakino and Ngāi Te Rangihouhiri II Hapū The Rotoehu West forest was being held by the Rūnanga on behalf of the Ngāti Hikakino and Ngāi Te Rangihouhiri II Hapū. On 26 August 2016, the title of the Rotoehu West forest was transferred by the Rūnanga to the Rotoehu Forest Trust. The associated carbon credits remain with the Rūnanga, and will be transferred once Rotoehui Forest Trust complete registration. As at reporting date, the carrying amount of the Rotoehu West forest held for distribution comprised of the following:

Assets held for distribution Forestry assets Intangible assets Liabilities held for distribution Ngāti Hikakino and Ngāi Te Rangihouhiri II Hapū

2017 $000’s

Group

2016 $000’s

2017 $000’s

Parent

2016 $000’s

1,032 1,032

2,595 1,072 3,667

1,032 1,032

2,595 1,072 3,667

1,032

3,667

1,032

3,667

Annual Report 2017 55

28 Term Loans 2017 $000’s Current Liabilities ASB loan ANZ loan Current Portion of Loan from Housing NZ Corporation Fonterra loan Non-Current Liabilities ANZ loan Loan from Housing NZ Corporation

Group

2016 $000’s

2017 $000’s

Parent

2016 $000’s

9,000 34 173 9,207

250 45 173 468

8,825 554 9,379

7,576 579 8,155

ANZ Loan Five loans with the ANZ are currently held. The first was initially raised during June 2013 to purchase a dairy farm for Tumurau Limited Partnership. The loan is secured against the farm land on Braemar Road, Whakatāne. The loan was fixed in May 2015 for four years (maturing May 2019) at an interest rate of 5.15% (2016: 5.15%), with interest charged on a monthly basis. Three loans were raised in June 2015 to replace the Westpac Loan held by the Ngāti Awa Farms (Rangitaiki) Joint Venture as part of the purchase of the dairy herd and farm plant, alongside additional Fonterra share purchases and the establishment of another farm house on the property. The loans are for terms of five years (maturing June 2020), secured against the farm land. The loans were fixed in June 2015 for four years at interest rates ranging between 4.87% to 5%, with interest charged on a monthly basis. One loan was raised in May 2017 and is secured against property held by Ngāti Awa Properties Limited. The loan was fixed in May 2017 for one year (maturing May 2018) at an interest rate of 4.31%, with interest charged on a monthly basis. Loan from Housing NZ Corporation Two loans were raised to purchase and renovate residential propertie at Wairaka, Whakatāne. The loans are for 25 years at interest rates of 4.85% and 5.15%. The loans are secured by a mortgage on the respective Wairaka residential properties (2016: same). 2017 $000’s Balance at the beginning of the year Fair value adjustment on initial recognition Loans repaid Balance at the end of the year

Group

602 (14) 588

2016 $000’s 602 67 (45) 624

ASB Loan This loan was repaid during the year Fonterra loan These loans were raised to support Fonterra suppliers in a period of low dairy returns. The loans were interest free until 31 May 2017, the interest rate charged after this date is 2.47%. The Loans are repayable when the total advance rate payments exceed $6.00 per kilogram of milksolids.

56 Te Rūnanga o Ngāti Awa

29 Investments in Subsidiaries and Joint Ventures Name

Class of Share

Ownership Interest Held 30 June 2017 30 June 2016

Balance Date

Principal Activity

Subsidiaries Ngāti Awa Group Holdings Limited

Ordinary

100%

30 June

Ngāti Awa Asset Holdings Limited

Ordinary

100%

30 June

Ngāti Awa Farms Limited

Ordinary

100%

30 June

Commercial Assets Administration Fisheries Investment Drystock Farming

Ngāti Awa Farms (Rangitaiki) Limited

Ordinary

100%

30 June

Non-Trading

Ngāti Awa Fisheries Limited

Ordinary

100%

30 June

Fish Quota Leasing

Ngāti Awa Fish Quota Holdings Limited

Ordinary

100%

30 June

Non-Trading

Ngāti Awa Forests Limited

Ordinary

100%

30 June

Forest Land Leasing

Ngati Awa No.1 Limited

Ordinary

100%

30 June

Investment

Ngāti Awa Properties Limited

Ordinary

100%

30 June

Property Leasing

Ngāti Awa Research & Archives Trust

100%

30 June

Research

The Ngāti Awa Community Development Trust

100%

30 June

Social Services

Ordinary

100%

30 June

General Partner of Manu Hou LP

Manu Hou Limited Partnership

70%

30 June

Capital Investments

Ngāti Awa Farms (Rangitaiki) Joint Venture

51%

30 June

Dairy Farming

Ordinary

100%

30 June

General Partner

68%

30 June

Dairy Farming

Ordinary

100%

30 June

Tourism

16%

31 March

Fish Quota Leasing

Ordinary

16%

31 March

Fish Quota Leasing

Manu Hou GP Limited

Tumurau GP Limited Tumurau Limited Partnership White Island Tours Limited Joint Ventures Mataatua Fisheries Collective Mataatua Quota ACE Holdings Limited

Annual Report 2017 57

30 Related Party Transactions Balances with subsidiaries are held as follows: Statement of Financial Position Non-Current Assets Loans owing by subsidiaries

- Ngāti Awa Research & Archives

Current Liabilities Owing to subsidiaries Owing to subsidiaries

- Ngāti Awa Group Holdings Limited - Development Ngāti Awa

- Ngāti Awa Asset Holdings Limited

2017 $000’s

Parent

2016 $000’s

8,635 8,690

8,624 8,698

728 8 736

217 13 230

On 1 October 2007, a loan was advanced to Ngāti Awa Asset Holdings Limited. This loan is repayable on 30 September 2017, and interest is received at the prescribed Inland Revenue Department rate for low-interest loans of 5.77% p.a. as at 30 June 2017 (2016: 5.77% p.a.). Receipts and Payments with Subsidiaries 2017 $000’s

Receipts Administration fees income Farm lease income Lease income Wage reimbursement Interest Dividend Grant income

Payments Radio station funding

- Ngāti Awa Properties Limited

- Ngāti Awa Group Holdings Limited Ngāti Awa Farms Limited Ngāti Awa Group Holdings Limited Ngāti Awa Group Holdings Limited Ngāti Awa Asset Holdings Limited Ngāti Awa Asset Holdings Limited Ngāti Awa Research & Archives

58 Te Rūnanga o Ngāti Awa

Parent

2016 $000’s

30 57 500 1,000 1,587

52 103 500 1,500 43 2,289

30 Related Party Transactions Payments to Consultants who are Board Members Payments to Board Members under the Rūnanga Charter Under the Rūnanga Charter clause 18.1(c), there is a provision for professional fees that can be paid to Board Members.

2017 $000’s

Group

2017 $000’s

2016 $000’s

Parent

2016 $000’s

Board Member

Nature of fees

M Dodd

Appointments & Remuneration

M Glen

Audit, Finance & Risk Committee

TR Chapman-de Vos

Audit, Finance & Risk Committee

M Paul

Appointments & Remuneration

D Hunia

Appointments & Remuneration

Audit, Finance & Risk Committee BP Quinn

Chair of Ngāti Awa Group Holdings Limited, Farms Board & Investment Committee

S Nicholson

Appointments & Remuneration

M Sisley

Audit, Finance & Risk Committee

J Mason

Rūnanga consultancy, Ngāti Awa

142

155

Research and Archives, ex officio of Ngāti Awa Group Holdings Limited P Ngaropo

Ngāti Awa Research and Archives contract work

R O’Brien

Audit, Finance & Risk Committee Ngāti Awa Group Holdings Limited

T O’Brien

Appointments & Remuneration

Board members represents 28 people (2016: 22 people). Board Members were paid $118,213 in meeting fees for the year ended 30 June 2017 (2016: $101,890), which includes the Chairman’s and Deputy Chairman’s honorarium payments. Indemnity insurance of $11,500 (2016: $8,315) was paid on behalf of the Board Members.

Payments as the Chairman of the Board Fees Paid to J Mason

2017 $000’s

Group

2016 $000’s 45

2017 $000’s

Parent

2016 $000’s 45

Payments to Key Management Personnel Management represents 3 individuals (2016: 5 individuals), determined on a full-time equivalent basis. Key management personnel and their direct reports costs are $464,333 (2016: $644,736) for the Group.

Annual Report 2017 59

31 Operating Lease Commitments Non-cancellable operating lease rentals are payable as follows: Commitments Due - within 1 year - in 1 year to 2 years - in 2 years to 5 years - greater than 5 years

2017 $000’s

Group

168 145 55 368

2016 $000’s

2017 $000’s

191 146 145 482

Parent

2016 $000’s

Non-cancellable operating lease rentals are receivable as follows. These relate to operating lease rentals on investment properties and forestry land.

Commitments Due -

within 1 year in 1 year to 2 years in 2 years to 5 years greater than 5 years

2017 $000’s

Group

1,531 1,531 4,504 39,234 46,800

2016 $000’s 1,516 1,516 4,547 38,930 46,509

2017 $000’s

Parent

2016 $000’s

32 Capital Commitments The Group has committed capital to Taurus Resources Fund No.2 Ltd, remaining capital commitment as at 30 June 2017 is USD$111,401 (2016: USD$119,112). Manu Hou Limited Partnership has committed capital of $5 million to Direct Capital IV. As at 30 June 2017, $2,905,312 has been called (2016: $2,861,153). Ngāti Awa Asset Holdings Limited has committed capital of $5 million to Pencarrow Bridge Fund LP. As at 30 June 2017, $2,450,000 has been called (2016:$nil). Ngāti Awa Farms (Rangitaiki) Joint Venture has committed capital of $400k for effluent pond. As at June 2017, $159,435 has been paid towards this commitement. The Group has no other capital commitments as at 30 June 2017 (2016: nil).

33 Contingent Assets and Liabilities Contingent Liabilities The Group has no contingent liabilities as at 30 June 2017 (2016: nil).

60 Te Rūnanga o Ngāti Awa

34 Financial Assets and Liabilities The table below analyses the financial assets and liabilities by class and category, consistent with the Rūnanga and Group’s accounting policies. Group 30 June 2017 Assets per statement of Financial position Other investments

Loans and Receivables $000’s

Carrying Value Total $000’s

Available for Sale $000’s

1,500

6,123

7,623

22,339

1,676 7,983 11,159

22,339

6,123

1,676 7,983 39,621

Other financial assets at fair value through surplus or deficit Trade and other receivables Cash and cash equivalents

Assets at Fair Value through Surplus or Deficit $000’s

Other Financial Liabilities at Amortised Cost $000’s 18,586 1,358 19,944

Carrying Value Total $000’s 18,586 1,358 19,944

Assets at Fair Value through Surplus or Deficit $000’s -

Available for Sale $000’s 8,791

Carrying Value Total $000’s 12,328

17,596

929 15,267 19,733

17,596

8,791

929 15,267 46,120

Other Financial Liabilities at Amortised Cost $000’s 8,623 1,524 10,147

Carrying Value Total $000’s 8,623 1,524 10,147

Liabilities per Statement of Financial Position Term loans Trade and other payables There are no material financial assets that are past due or impaired.

30 June 2016

Assets per Statement of Financial Position Other investments Other financial assets at fair value through surplus or deficit Trade and other receivables Cash and cash equivalents

Liabilities per Statement of Financial Position Term loans Trade and other payables

Loans and Receivables $000’s 3,537

Annual Report 2017

34 Financial Assets and Liabilities (continued) The table below analyses the financial assets and liabilities by class and category, consistent with the Rūnanga and Group’s accounting policies. Parent 30 June 2017

Assets per Statement of Financial Position Trade and other receivables Owing by subsidiaries Cash and cash equivalents

Loans and Receivables $000’s 166 8,690 15 8,871-

Assets at Fair Value through Surplus or Deficit $000’s -

Liabilities per Statement of Financial Position Trade and other payables Owing to subsidiaries

30 June 2016

Assets per Statement of Financial Position Trade and other receivables Owing by subsidiaries Cash and cash equivalents

Loans and Receivables $000’s 154 8,698 5 8,857

Liabilities per Statement of Financial Position Trade and other payables Owing to subsidiaries There are no material financial assets that are past due or impaired.

35 Events occurring after the reporting period The Group had no additional events occurring after the reporting period.

62 Te Rūnanga o Ngāti Awa

Assets at Fair Value through Surplus or Deficit $000’s -

Carrying Value Total $000’s

Available for Sale $000’s -

166 8,690 15 8,871

Other Financial Liabilities at Amortised Cost $000’s 355 736 1,091

Carrying Value Total $000’s 355 736 1,091

Carrying Value Total $000’s 154 8,698 5 8,857

Other Financial Liabilities at Amortised Cost $000’s 845 230 1,075

Carrying Value Total $000’s 845 230 1,075

Available for Sale $000’s

Independent Auditor’s Report To the members of Te Rūnanga o Ngāti Awa Report on the Rūnanga and Group financial statements

Opinion In our opinion, the accompanying financial statements of Te Rūnanga o Ngāti Awa (the Rūnanga) and its subsidiaries (the Group) on pages 33 to 62:

We have audited the accompanying Rūnanga and Group financial statements which comprise:

—

The Rūnanga and Group statement of financial position as at 30 June 2017;

i. Present fairly in all material respects the Rūnanga and Group’s financial position as at 30 June 2017 and their financial performance and cash flows for the year ended on that date; and

—

The Rūnanga and Group statements of comprehensive revenue and expense, changes in equity and cash flows for the year then ended; and

ii. Comply with Public Benefit Entity Standards Reduced Disclosure Regime (Not For Profit).

—

Notes, including a summary of significant accounting policies and other explanatory information.

Basis for opinion We conducted our audit in accordance with International Standards on Auditing (New Zealand) (‘ISAs (NZ)’). We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. We are independent of the Rūnanga and Group in accordance with Professional and Ethical Standard 1 (Revised) Code of Ethics for Assurance Practitioners issued by the New Zealand Auditing and Assurance Standards Board and the International Ethics Standards Board for Accountants’ Code of Ethics for Professional Accountants (IESBA Code), and we have fulfilled our other ethical responsibilities in accordance with these requirements and the IESBA Code. Our responsibilities under ISAs (NZ) are further described in the auditor’s responsibilities for the audit of the Rūnanga and Group financial statements section of our report. Other than in our capacity as auditor we have no relationship with, or interests in, the Rūnanga and Group.

Other information The representatives, on behalf of the Rūnanga and Group, are responsible for the other information included in the entity’s financial statements. Our opinion on the Rūnanga and Group financial statements does not cover any other information and we do not express any form of assurance conclusion thereon. In connection with our audit of the Rūnanga and Group financial statements our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the Rūnanga and Group financial statements or our knowledge obtained in the audit or otherwise appears materially misstated. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Annual Report 2017 63

Use of this independent auditor’s report This report is made solely to the Members as a body. Our audit work has been undertaken so that we might state to the Members those matters we are required to state to them in the independent auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Members as a body for our audit work, this report, or any of the opinions we have formed.

Responsibilities of the representatives for the Rūnanga and Group financial statements The representatives, on behalf of the Rūnanga, are responsible for:

—

The preparation and fair presentation of the Rūnanga and Group financial statements in accordance with generally accepted accounting practice in New Zealand (being Public Benefit Entity Standards Reduced Disclosure Regime (Not For Profit));

—

Implementing necessary internal control to enable the preparation of the Rūnanga and Group set of financial statements that is fairly presented and free from material misstatement, whether due to fraud or error; and

—

Assessing the ability to continue as a going concern. This includes disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless they either intend to liquidate or to cease operations, or have no realistic alternative but to do so.

Auditor’s responsibilities for the audit of the Rūnanga and Group financial statements Our objective is:

—

To obtain reasonable assurance about whether the Rūnanga and Group financial statements as a whole are free from material misstatement, whether due to fraud or error; and

—

To issue an independent auditor’s report that includes our opinion.

Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs NZ will always detect a material misstatement when it exists. Misstatements can arise from fraud or error. They are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these Rūnanga and Group financial statements. A further description of our responsibilities for the audit of these Rūnanga and Group financial statements is located at the External Reporting Board (XRB) website at: https://www.xrb.govt.nz/Site/Auditing_Assurance_Standards/Current_Standards/Page7.aspx. This description forms part of our independent auditor’s report.

Tauranga 27 October 2017

64 Te Rūnanga o Ngāti Awa

Remuneration and Payments Te Rūnanga o Ngāti Awa

Payments to Employees to be disclosed under the Rūnanga Charter: Under the Rūnanga Charter clause 11.3, there is a requirement for the Annual Report to comply with section 211 of the Companies Act 1993 but excluding information required by section 211(1)(g) where the Rūnanga so decides pursuant to clause 11.6 (Protection of Sensitive Information). During the year ended 30 June 2017 the number of employees or former employees, not being governors, that received remuneration and any other benefits in their capacity as employees where the value exceeded $100,000 per annum were: $100,000 - $110,000: 1 employee $170,000 - $180,000: 2 employees Payments to Board members under the Rūnanga Charter Under the Rūnanga Charter clause 18.1(c), there is a provision for the professional fees that can be paid to Board Members. During the year ended 30 June 2017 the following board attendance meeting fees, other meeting fees, and professional fees were paid to Board Members. Name

Board

M Araroa TA Barrett TR Chapman-de Vos

TRONA TRONA (appointed 10/12/2016) TRONA (appointed 10/12/2016)

V Copeland M Dodd

TRONA (appointed 26/6/2017) TRONA

M Glen

TRONA

M Hepi D Hunia

TRONA TRONA (ceased 29/5/17)

K Hunia B Kingi A Kohunui P Koopu J Mason (Chair)

TRONA (ceased 10/12/2016) TRONA (appointed 10/12/2016) TRONA (ceased 10/12/2016) TRONA TRONA

T K Merito A Morrison P Ngaropo

TRONA TRONA TRONA

S Nicholson

TRONA (ceased 10/12/2016)

R O’Brien

TRONA

T O’Brien

TRONA

Meeting Fee 945 630 630

0 1,260

945 1,260 1,260 315 630 630 1,260 45,000 1,260 1,260 1,260 630 1,260

6,968

Other Board / Committees

Other Fees Paid

Audit, Finance and Risk Committee (appointed 28/4/2017)

750

Ngāti Awa Research & Archives Trustee

300

Governance Review Committee Appointment and Remuneration Committee Audit, Finance and Risk Committee (ceased 28/4/2017)

150

Audit, Finance and Risk Committee (ceased 28/4/2017) Governance Review Committee

Fisheries Consultant NAGHL (ex officio)

1,050 2,250 2,250 150

35,000 22,500

Ngāti Awa Research & Archives Trustee Appointment and Remuneration Committee NAGHL Director Audit, Finance and Risk Committee Appointment and Remuneration Committee

150 150 22,500 3,000 150

Annual Report 2017 65

Remuneration and Payments Te Rūnanga o Ngāti Awa

Name

Board

M Paul

TRONA (ceased 10/12/2016)

315

BP Quinn

TRONA

630

S Ratahi E Ratahi-Pryor R Shortland M Sisley

TRONA TRONA (appointed 10/12/2016) TRONA (appointed 10/12/2016) TRONA

1,260 630 630 1,260

A Tangitu M Tarau B Tunui M Wahapango D Birch

TRONA TRONA (ceased 10/12/2016) TRONA (appointed 10/12/2016) TRONA (ceased 10/12/2016) NAGHL

945 630 630 630 22,500

AE De Farias

NAGHL

22,500

PS Drummond HW Hudson

NAGHL NAGHL

22,500 22,500

T Hunia

NAGHL

22,500

W Vercoe P Taylor

22,500 25,000

BDP Tatere

NAGHL (ex officio) Audit, Finance and Risk Committee Ngāti Awa Farms Limited Director

W Studer

Ngāti Awa Farms Limited Director

800

A Jaram

Ngāti Awa Research & Archives Trustee Ngāti Awa Research & Archives Trustee Ngāti Awa Research & Archives Trustee Manu Hou GP Limited

600

H Mead S Tutua CO Elliot

66 Te Rūnanga o Ngāti Awa

Meeting Fee

3,000

450 600 400

Other Board / Committees Appointment and Remuneration Committee NAGHL Chairman Ngāti Awa Farms Limited Director Investment Committee

Other Fees Paid 150 40,500 3,000 750

Audit, Finance and Risk Committee (appointed 28/4/2017)

750

Audit, Finance and Risk Committee

500

Investment Committee Ngāti Awa Farms Limited Director

2,250 2,250

Audit, Finance and Risk Committee Investment Committee Ngāti Awa Farms Limited Chairman

1,500 750 3,000

Our Hapū Representatives Te Rūnanga o Ngāti Awa

Hapū

June 2016

June 2017

Representative

Ngā Maihi

1,882

2,014

Regina O’Brien

Ngāi Taiwhakaea II

1,446

1,571

Enid Ratahi-Pryor

837

833

Ngāi Tamaoki Ngāi Tamapare

410

407

Ngāi Tamawera

1,157

1.154

Boyce Kingi Paul Quinn Alf Morrison

Ngāi Te Rangihouhiri II

618

622

Manurere Glen

Ngāi Tuariki

319

322

Meri Hepi

Ngāti Awa ki Pōneke

309

325

Brian Tunui

Ngāti Awa ki Tamaki Makaurau

341

365

Pouroto Ngaropo

Ngāti Hamua

496

498

Miro Araroa

Ngāti Hikakino

563

Stanley Ratahi

644

664

1,408

1,416

120

119

2,627

2,647

Dr Joe Mason

516

523

Te Kei Merito

Ngāti Hokopu - Te Hokowhitu a Tu Ki Te Rahui Ngāti Hokopu - Te Whare o Toroa Ngāti Maumoana Ngāti Pukeko Ngāti Rangataua

Te Arani Barrett Daye Hunia Putiputi Koopu

Wharepaia

534

536

Materoa Dodd

Te Kahupāke

716

713

Mihipeka Sisley

Te Pahipoto

2,230

2,257

Tuwhakairiora O’Brien

Te Patuwai

1,278

1,334

Ruihi Shortland

Te Tawera

892

894

Amohaere Tangitu

Warahoe

574

582

Te Rau Chapman-de Vos

19,990

20,395

Hapū to be confirmed Totals

Board

Frequency Meetings

Meetings during year

Te Rūnanga o Ngāti Awa Board of Representative

Two monthly

Five ordinary meetings One Annual General Meeting

Appointments Remuneration Committee

When required

One

Audit Finance and Risk Committee

When required

Ten

Ngāti Awa Research and Archives Trust

Two Monthly

Three

Whakapapa Committee

Two monthly or when required

Six

Charter Review Committee

When required

One

Te Mānuka Tūtahi Operations Review Committee Kahui Kaumatua Governance Review Committee

One Quarterly

Four Two

Annual Report 2017 67

Directory Te Rūnanga o Ngāti Awa

Ngāti Awa Group Holdings Ltd

Chairman Dr Joe Mason

Chairman Paul Quinn

Chief Executive Officer Leonie Simpson

Chief Executive Officer Geoff Hamilton

CEO Executive Assistant Andrea Kingi

Financial Controller Peter Thomas

Board Secretary Haley McCorkindale

Board Secretary Glenda Stewart

Manager Policy & Strategy Beverly Hughes

Finance Administrator Lynsey Mariu

Manager Identity: Language & Culture Noti Belshaw

Manager Ngakauroa Farm Mike Learmond

Manager Knowledge & Information Jackie Wharewera

Manager Tumurau Farm Ngatai Hurkmans

Consents Coordinator Keri Topperwein

Manager Ngāti Awa Heritage Estate Scott Berry

Receptionist Naedene Stewart

Manager White Island Patrick O’Sullivan

Contractor Charlie Bluett Monica Maniapoto Interim Manager Mataatua Wharenui William Stewart Pou Arataki Mataatua Wharenui Mavis Hemopo Tame Hotene Pare Pouwhare-Akuhata Hare Woods Support Staff Mataatua Wharenui Carolyn Fitzpatrick Mark Tutua

68 Te Rūnanga o Ngāti Awa