The Establishment of NREDA

structure content

EDA Structure

The Nelson Regional Economic Development Agency (EDA) was established by the Nelson City Council as a Charitable Trust in June 2004, known as the Nelson Regional Economic Development Agency Trust.   The Deed of Trust allows the Nelson City Council to appoint no more than five and no fewer than three trustees.
 
The Trust is subject to the Charities Act 2005, and as a Nelson City Council controlled organisation is subject to the requirements of Part 5 of the Local Government Act 2002.   This includes Section 70 which requires the Agency to be audited by the Auditor General.
 
Base funding is received from the Nelson City Council on an annual basis, subject to the Council approving the Agency’s Statement of Intent.    A financial grant is also received from the Tasman District Council on an annual basis.
 
The Agency is required to report to the Nelson City Council at the following intervals:
 
  • Annual Report - due 30 September for year ended 30 June
  • Half Yearly Report - due 28 February for half year ended 31 December
  • Draft Statement of Intent - due 1 March for year commencing 1 July
  • Final Statement of Intent approval - due 30 June for year commencing 1 July
The intention of the draft Statement of Intent allows the Nelson City Council to participate in the direction of the EDA.   When finally approved, the Statement of Intent is the document to which the Nelson City Council will measure the performance of the Trustees and the Agency.
 
The Agency is required to plan its’ activities taking into account the principal objective of a council-controlled organisation as described in the Local Government Act 2002 (s59) and purposes of the Agency as laid out in the organisation’s Deed of Trust.
 
The Board of Trustees employs a Chief Executive who currently employs an Office Manager and a Development Manager.   The Agency engages a number of contractors to carry out project funded work which are assigned in accordance with a robust procurement policy ensuring projects are transparent and goal driven.