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Home / Waikato News

Report confirms Claudelands targets 'unrealistic'

Hamilton News
19 Feb, 2012 11:40 PM2 mins to read

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An independent review of Claudelands' Business Plan will see council setting more realistic financial and business targets which better reflect the reality of operating the city's prime convention, exhibition and events facility.

Hamilton City Council says that the report by Horwath HTL was received this week and was commissioned last
December once it became aware of budget shortfalls at Claudelands.

It will be discussed by the Council at next week's (9 February) meeting when the draft 2012 10-Year Plan is considered.

The report highlights that Claudelands' 2009 Strategic Business Plan was unrealistic in the forecasts made for future business, revenue, pricing and operating costs which were used in the 2009 10-Year Plan.

Thursday's meeting will be used to consider realistic financial projections for the future performance of the events centre.

Chief Executive Barry Harris said that the report gives a clear and independent view that the financial performance expectations for Claudelands are wrong.

"The report does raise significant questions around the overly optimistic figures used in the 2009 10-Year Plan, and as I have only just received this report, will need some time to investigate these and other issues raised. I will report back to Council at a future meeting."

"We need to get them right, and focus on driving a successful facility that creates economic opportunity for our city," Harris said.

"I am confident that with the changes made to Council's business planning and financial and reporting processes, both prior to and following the Audit NZ report into the V8s, that we have substantially improved the rigour around how we now conduct our business within Council.

"These changes enabled us to quickly identify the likely shortfalls and to respond immediately.

"The start-up period for any new business is difficult, however the events, conferences, exhibitions and shows which have been held already and which are being booked at Claudelands into the next three years show steady growth in revenue. "

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