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Letter: $102 million ‘Infrastructure Asset’

Tuesday 4 June 2024 | Written by Supplied | Published in Letters to the Editor, Opinion

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Letter: $102 million ‘Infrastructure Asset’

Acknowledging the response from To Tatou Vai CEO Apii Timoti in regard to 2024/25 Budget appropriation (May 27).

Making reference to the TTV Statement of Corporate Intent, can the CEO explain the $102 million ‘Infrastructure Asset’ transferred to the water authority in 2023/2024?

Te Vai Ora Maori

Reply

Kia Orana Editor

My earlier response did not state that we won’t have depreciation of the assets on our books at some stage.  It said the TTV Act does not allow that expense to be part of the calculations for the tariff.

The intent in the Statement of Corporate Intent 2023 to 2027 was for the Te Mato Vai assets to transfer to To Tatou Vai. This was scheduled to take place in the 2023/24 financial year, it didn’t. MFEM and TTV are working to effect this transfer in the 2024/25 financial year.

Meitaki

Tereapii Timoti

CEO, To Tatou Vai

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