Whakatāne Airport annual report adopted seven years after deadline

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An Annual Report for Whakatāne Airport has not been adopted since systematic accounting errors were discovered in 2019. Photo / Whakatāne Airport Whakatāne District Council has…

An Annual Report for Whakatāne Airport has not been adopted since systematic accounting errors were discovered in 2019. Photo / Whakatāne Airport

Whakatāne District Council has resolved systematic accounting errors in the airport’s annual report – seven years after its original reporting deadline.

This could wipe more than $1.76 million of debt from the council’s books because of a funding arrangement with the Ministry of Cities, Environment, Regions and Transport (MCERT).

Whakatāne Airport’s Annual Report 2018-2019 was published on the council’s website this week, after Audit NZ approved it with a clean bill of health (unmodified opinion).

The district council co-owns and manages the airport through a Council Controlled Organisation (CCO), in a 50/50 joint venture with MCERT.

Whakatāne District Council is legally required to adopt an audited annual report for the CCO within three months of the end of each financial year (end of September), and make it publicly available within a month of that date.

The council’s chief financial officer Paul Davidson said the council had been working with the Audit Office to resolve accounting disclosure issues with the Airport Annual Report, which arose back in 2019.

“This has taken considerable time and effort to resolve and has needed to be confirmed and cleared by Audit New Zealand’s Wellington office due to it being classified as a prior-period adjustment.

“Aligning this work with the Audit Office’s work programme has taken longer than anticipated.”

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