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Tuesday
Nov112014

Destination Coromandel - It Gets Better!

By total contrast, the accounts of Destination Coromandel (unaudited to 30 June 2014) are presented in a fully compliant manner and are easy to read and understand. They indicate a complete turnaround since its advent three years ago, and without going deeply into how it dealt with the excessive and inadequately explained creditor situation that it faced at that time, it now appears to have turned the corner.

All relevant information regarding the governance and payments to trustees is provided, and clearly there has been a turnaround in the modus operandi to the extent that the previous bugbear of excessive overseas travel has been brought under control. The need for a 23% over budget payment of employee benefits ($201,368)  is unexplained in the notes, but no doubt there will be some explanation at the Wednesday meeting.

'Overs and unders' elsewhere are within reasonable limits, and the organisation appears to be successfully undertaking its role. It is not clear why the production of the 2012 and 2013 accounts (and audit) was so long delayed (the Audit Report for 2012/2013 was not signed off until 18 July 2014), but no doubt explanations will be provided in due course. It is certainly something that should concern the Unelected Economic Development Committee, and answers should be sought and provided for the record.

But it is certainly a change to be able to report positively about one of this Council's economic initiatives.

 

 

 

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