Eke Panuku Annual Report 2021/2022

05 December 2022

  • News

Eke Panuku is pleased to publish its annual report for the year ending June 2022.

The year was not without its challenges, with the ongoing impact of COVID-19 being significantly felt in the first part of the year.

Despite this, we’re proud of our momentum that is creating amazing places and delivering urban regeneration outcomes on behalf of Auckland Council.

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Key highlights

  • 404 new homes completed by Eke Panuku development partners around the region
  • Significant development partnerships agreed to enable more homes in Takapuna and Avondale
  • New public spaces and streetscape upgrades underway and completed in our locations
  • Signing of the ground-breaking Te Whakaoranga o te Puhinui charter
  • Adoption of our Thriving Town Centres guidance.

A significant part of the work we do is to deliver returns to Auckland Council through managing its non-service property portfolio and selling properties the council no longer needs.

This year the portfolio we manage on behalf of Auckland Council generated $68.7m revenue and our property sales and pre-paid leases totalled $100.9 million.

Download the Report


Eke Panuku Annual Report 2021 /2022 - Overview

Eke Panuku has released its annual report for the 2021/2022 financial year, which runs from 1 July 2021 to 30 June 2022. The report is being released later than expected due to a lack of resources among our auditors.

Eke Panuku is involved in a number of complex financial arrangements with Auckland Council and Auckland Transport. In summary, Eke Panuku provides staff to manage non-service property owned by Auckland Council and Auckland Transport, as well as to carry out urban regeneration work on Auckland Council's behalf.

In addition to managing itself as an organisation, Eke Panuku manages portfolio (property and marinas) income and expenditure budgets within Auckland Council and within Auckland Transport, and urban regeneration budgets within Auckland Council. Within Auckland Council, the managed budgets include both opex and capex budgets, but only opex budgets within AT. Budgets managed or controlled by Auckland Council are reported and retained by Auckland Council, as are AT budgets. Auckland Council separates the budgets managed on its behalf by Eke Panuku, and these budgets can be found in Eke Panuku’s Statement of Intent.

The table below shows the total inflows and outflows generated by Eke Panuku, regardless of whether they are shown in the financial statements of Eke Panuku, Auckland Council or Auckland Transport as it is not accurate to look at them in isolation.


Our people

Urban regeneration requires a diverse set of skills and abilities. We employ people with highly sought-after skills from a variety of professional services, including urban design, architecture, property and development management, Māori outcomes, sustainability and climate change, engagement and strategic planning.

We work using a matrix system to deliver our project outcomes. Our project and programme leaders draw on specialist skills from across our functional teams. Our functional teams are mostly led by senior subject matter experts which we refer to as people leaders, this allows them to lead others but also work in projects themselves. Our fairly flat structure, particularly for our urban regeneration work, allows our people leaders to best use the talents of our staff across multiple locations and projects.

We compete with the private sector for talent and have a higher average salary than a more operationally based organisation because the majority of our roles are professional services and subject matter experts in their field of specialisation. We work closely with Auckland Council and remuneration experts to ensure our people are paid competitively for their experience and skill set, which has been extremely competitive in the last two years. This is also consistent with Auckland Council's compensation policies.

The number of Eke Panuku employees fluctuates depending on recruitment and turnover. Our FTE employees at 30 June 2022 was 199.13, compared to 199.95 at 30 June 2021. In addition, at 30 June 2022 Eke Panuku had 15 temporary staff in FTE roles and 22 vacancies.


Employee costs – how to read the tables

For 2021/2022, Eke Panuku has reported its employee salaries in two ways. Both disclosures exclude temporary staff, who are generally employed via recruitment agencies.

· This year, we have chosen to voluntarily disclose our salaries in an additional way in the table on page 108. This shows them in the same format Auckland Council reports its salaries in its annual report, as required by the Local Government Act. This makes comparing our salaries to those of Auckland Council easier.

This is the annualised salary (pro-rated for part-time employees) including KiwiSaver contributions of employees as at 30 June. This is very much a point in time of disclosure. Increases in the number of employees in a band can be the result of positions that were vacant or filled by temporary staff at 30 June 2021 being filled by employees at 30 June 2022, and vice versa for decreases in the number of employees in a band.

Eke Panuku, like Auckland Council, reviews its salaries with effect from 1 September each year. For September 2021, Eke Panuku employees on salary bands H or below received a salary increase of 1.6%, in line with Auckland Council. Eke Panuku employees on salary bands I and above did not receive a pay increase.

Employees earning less than the full time equivalent of $47,320 also received social equity increases through a living wage. We adopt Auckland Council salary bands, which were also reviewed to ensure we remain competitive with the job market and taking into consideration the bands were not increased the year before.

· On page 109 we reported actual salaries paid during the year to employees earning $100,000 or more. We are required to provide this disclosure under the Companies Act.

These figures are the actual gross amount paid to employees during the financial year for salaries, including KiwiSaver contributions. Because these figures are not annualised, if someone works at Eke Panuku for only six months of the fiscal year, this table will only show six months of their annual salary. This disclosure also excludes leave accruals.

Many employees volunteered to take salary reductions from May 2020 to December 2020while we recovered from COVID-19. The voluntary deductions totalled $304,000 in the 2021 financial year. The table shows salary information with and without salary reductions. This will make it easier to compare financial years.


Temporary staff

Our staff costs were impacted by a competitive labour market. This year we paid $3.1m for temporary staff, which we needed to fill vacancies through longer recruitment periods. This is a $1.1m increase over the previous year.