A council controlled organisation (CCO) is one in which a council (or councils) hold equity securities carrying 50 percent or more of the voting rights or a council (or councils) can appoint 50 percent or more of the directors of the organisation.
CCOs have specific legal requirements of them that are detailed in the Local Government Act 2002.
These include the requirement to submit a Statement of Intent to the shareholding council(s) each for approval. Statements of Intent set out the objectives, nature and scope of activities undertaken and performance targets for each CCO.
As part of the process to prepare a Statement of Intent Ashburton District Council now provides its local CCOs with a Letter of Expectation that outlines the Council's expectations from the organisation for the coming year.
All CCO financial accounts are required to be consolidated into the Council's accounts for its Annual Report. Audit New Zealand is required to be the financial auditor for all CCOs.
Ashburton Contracting Limited
Ashburton Contracting Limited (ACL) is a civil and roading contracting company. It is fully owned by Ashburton District Council. Its activities include:
View the Ashburton Contracting Ltd Statement of Intent 2019-20
Learn more about ACL
Ashburton Stadium Complex Trust
The charitable trust was established by Council with responsibility for undertaking community fundraising for the EA Networks Centre indoor aquatic centre and sports facility. The Trust was wound up in September 2019.
Experience Mid Canterbury
As Ashburton District's official tourism organisation, Experience Mid Canterbury (EMC) markets our district both locally and internationally. They provide visitor information services, and facilitate and enhance the promotion of tourism events, products and services.
EMC is fully owned by Ashburton District Council.
View the Experience Mid Canterbury Statement Of Intent 2019-20
Learn more about EMC