Ngapuhi Runanga declares $2m surplus
|18 Nov 2019 12:45 PM|
Te Rūnanga a Iwi o Ngapuhi has declared a $2.1 million surplus for the year to June 30.
That’s up $150,000 on the 2018 financial year and brings its net assets to $59,97 million.
Most of the income and assets relate to management of the northern iwi’s fisheries settlement, but it also now owns a Paper Plus franchise and a petrol station in Kaikohe.
It also has heath and social services arms which receive government contracts.
The rūnanga had a $5.6 million wage bill, and it distributed $57,000 for hapū development grants and $96,000 in scholarships and grants of $7500 each to seven of its nine takiwā.
The accounts and annual report were signed off by Raniera Tau, who stepped down days after they were finalised.
The accounts had were cleared by auditors BDO Northland, but some beneficiaries and trustees want a full review of the runanga’s operations in the wake of Mr Tau’s departure.Copyright © 2019, UMA Broadcasting Ltd: www.waateanews.com