Local Government

Accounting involves a range of complex challenges. Our specialist accounting advisory team works with our local government clients to understand their accounting and financial reporting issues and helps resolve them in the most effective way.

We have a deep understanding of Public Benefit Entity (PBE) accounting standards, for profit NZ IFRS accounting standards and the complications arising with local authority groups that contain both for profit and public benefit entities. We can work through emerging accounting rules/standards and the developing regulatory climate to achieve the most suitable outcomes.

Our services include:

• Accounting technical opinions under PBE and IFRS accounting standards

• Preparation of accounting policy papers

• Impact assessments of new accounting standards

• Review of client prepared accounting papers

• Preparation or review of financial reporting disclosures

• Assistance with responses to auditor queries

• Accounting standards training.

Our team can help you make the right decisions about funding and financing whether that relates to a specific project, an ongoing programme, or for your longer term financial strategies.

Our services include:

• Funding and financing strategies (e.g. Financial Business Case)

• Debt and capital advice

• Rating reviews

• Advice on development contributions reserves

• Project/structured finance

Delivering affordable infrastructure to support thriving communities has long been a critical issue for the local government sector in Aotearoa. Our team has deep expertise and experience advising local authorities on everything from long-term investment planning preparation of business cases.

Our services include:

• Project finance (strategy and transactions)

• Financial strategy and investment planning (e.g. Long Term Plan, Annual Plan etc.)

• Funding and financing 

• Procurement

• Planning and delivery 

• Value creation and capture

• Capital markets

• Business case 

• Governance and management of CCOs/CCTOs

• Strategic reviews of assets and investment portfolios

Real estate held by local authorities often has a community function (e.g. parks, libraries etc) and, in some instances, assets are held for strategic or investment purposes. Our dedicated Real Estate advisory team has significant experience across all property asset types and can advise on strategy, asset optimisation, and property and developer procurement, for example.

Our services include:

• Real estate advisory

• Transactions

• Capital projects

Being proactive about risk will ensure local authorities are resilient to change and any unexpected shocks. Whether it is identifying and managing climate change risks, or addressing technology debt, our team has a strong understanding of what is important to local authorities, and how to put in place fit-for-purpose solutions. 

Our services include:

• Sustainability and climate change advisory

• Internal audit

• Governance risk and compliance

• Data and analytics

• Project and Infrastructure Assurance

• Risk modelling

• Cyber and Technology Risk

Our team helps local authorities with the development of strategy as well as the creation or fine tuning of operating models to bring strategy to life, transform ways of working and secure better outcomes for the people local authorities serve. 

Our services include:

• Strategy development (both at an organisational and business unit level)

• Operating model design

• Organisational reviews

• Business planning

There are unique tax settings for local authorities and the associated entities. Our PwC local government specialist tax team has a comprehensive understanding of these and the tax needs of local government. We have for a number of years, both independently and for Taituarā, made submissions on tax policy to ensure the tax regime is fit for purpose for local government.

We work with our clients to help solve a broad-range of tax issues, ensure that they manage their tax risk and meet their tax compliance obligations. In a world of complex tax laws and constant change, our team can help navigate the most challenging tax issues and proactively ensure the local government sector is aware of related developments.

The PwC specialist team provides tax services to over 90% of the local government sector, enabling them to leverage their vast experience to efficiently resolve tax matters for clients.  Our services include supporting clients with:

• Implementing tax governance frameworks 

• Developing tax strategies to manage risk

• Independent assessments of tax compliance reviews and advising on enhancements to tax processes and controls

• Tax advice across a broad range of issues including:

  • Establishing, removing or restructuring Council groups

  • Property transactions

  • Grant funding, both received and provided

  • Financial and development contribution policies

  • Employment tax issues, such as rewards and benefits, exit payments, FBT compliance

• Tax compliance, including income tax returns, FBT returns etc.

• Providing local government specific on-line tax policies 

• Tax training

Over the last 20 years the only constant in the financial markets has been unpredictability and increased volatility. In this environment, managing financial risk is all important as it impacts ratepayers - whether it's in interest rate or debt markets. Our team of experienced advisers provide insights to local government clients on all aspects of treasury and debt management.  

We currently act as independent treasury advisor to over 30 district, city and regional councils across New Zealand. 

Our services include:

• Liability management and investment policy design and reviews

• Ongoing retained treasury advisory services

• Debt and interest rate strategy advice

• Investment strategy, SIPO design, fund manager selection and review

• Cloud-based treasury reporting tool including scenario-testing capability

• Credit rating analysis

• Introductory treasury courses

• Economic and financial market updates