John Allen could you possibly try .....

[NZRacing]

John Allen could you possibly try and be a little more transparent. Producing a copy of the Annual Report on the day of the AGM  is a major concern and leads one to believe that you don't want the Industry to be able to evaluate performance and efficiency of the NZRB as on the day presented at the AGM how can they possibly do this. Last year you concocted some bizarre story how you couldn't produce the Financial Reports at the AGM because the Racing Minister hadn't tabled the documents to the House.   What Company or organisation goes to an AGM and doesn't produce end of year accounts? and if they did shareholders would be demanding the Board and Senior management to be sacked. 

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NZRB AGM 2017
23 November 2017
Thank you to those of you who were able to attend the NZRB AGM at Karaka on Tuesday evening

The AGM, of course, is the last part of our reporting process for the previous year and would normally come with the publication of
our Annual Report, however before publication takes place the document needs to tabled in Parliament by the Racing Minister, and due
to Hon Winston Peters’ travel commitments and workload over the past few weeks this has not been possible.What I can say is that NZRB
is delivering on its financial commitments and it is delivering on its commitments to increase support to the industry.

 

You say a lot of things John like the betting platform would be ready August 1 now its  the first week in December, well lets see how much later you deliver this months old commitment and how much over budget it is. 

You said above the 'document' needs to be tabled in Parliament by the Racing Minister let's look at the NZ Racing Act on what is actually required:

 21 Annual report
(1)The Board must, as soon as practicable after the end of each racing year, deliver to the Minister and each racing code a report of its proceedings and operations during that year.
(2)The annual report must include—
(a)the financial statements of the Board and the audit report on those statements; and
(b)information on the development and implementation under section 9(1)(f) of programmes relating to problem gambling.
(3)The Minister must present the report and statements to the House of Representatives not later than 6 sitting days after they have been received by the Minister

You breached the Racing Act by not providing the financial statements to the codes at the AGM. Could you please advise where in the Racing Act it states that the Minister must present the documents for tabling to Parliament before the Report can be tabled to the Codes at the AGM. Why would you wait for this to happen when the Auditors signed of the years accounts on 12th October? Nothing could possibly change the accounts even after tabled in Parliament. 

 The Act says as soon as practicable deliver to the Minister and each racing code a report that is the Annual Report not documents 'report'. Internal Affairs briefing to the Minister included Roles and responsibilities: tabling the NZRB’s Annual Report, Statement of Intent and betting rules in the House. Had to wait for it to be printed come on lets get real.

The Act says as soon as practicable deliver to the Minister and each racing code a report that is the Annual Report not documents 'report'. The last 4 years Auditors signed of the end of year accounts 12th Oct, 20th Oct, 12th October & 6th October so on average 13th October. You are having the AGM on  December 7th two weeks later than last year and the financial reports were signed of on average over the last four years 13th October that's nearly two months and you can't produce a copy of the Annual report to the codes prior to December 7th. Something doesn't add up John it borders on a gross incompetent performance by you as CEO to deliver what is required under the NZ the Racing Act and expected by the racing codes. The bottom line in any major company or organisation you would be sacked.  

If you believe that when the Racing Act says 'as soon as practicable after the end of each racing year' that over four months from the end of the season  and over seven weeks from the accounts getting signed of is in line with that above NZ Racing Act requirement you are living in cuckoo land.

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The New Zealand Racing Board 2016 Annual Report has been published and is now available for viewing online. 
The NZRB AGM will be held on 22 November at our Petone (Wellington) office, where NZRB CEO John Allen will discuss the 2015/16 year

In 2016 you could produce the Annual Reports online prior to the AGM held on the 22nd November two years later the AGM is to be held on the 7th December so 13 days later than 2016. Most company's performance improves with technology so if you could do that in 2016 there is simply no excuse not to do it this year. You say your transparent in your dealings well lets see it.    

So last year it was the Racing Minister used as a feeble excuse now this year the AGM is two weeks later and you still can't produce the Accounts as required by the Act. Who or what is to blame this year?  I think its not hard to work out the real reason why rather than who. Wake up sheeple your getting the wool pulled over your eyes. 

And you wonder why the Messara report was to include the performance and efficiency of the NZRB.

ps

I am glad you don't deliver the post mail