Council, 1 May 2019.

The current resolutions for the Capital Endowment Fund Policy as at 1 May 2019 are as follows:

  1. That the purpose of the fund be for civic and community, innovation, economic development and environment.
  2. Use of the capital of the fund including the inflation adjusted component requires the support of 80% of the councillors present when the vote is taken.
  3. Funds are managed in accordance with Council’s Investment Policy.
  4. That earnings from the fund be split 40% to civic and community, and 60% to innovation, economic development and environment. This split is to be reviewed three yearly in line with the long term plan or if the fund’s income changes significantly in between.
  5. That no single project be funded for more than three years, except in exceptional circumstances.
  6. That if desired, funds be carried forward to another year for allocation.
  7. That the minimum community grant for projects from the civic and community portion be set at $50,000.
  8. All funding proposals must include an assessment against the agreed assessment criteria for the category and a clear statement about the effect of the proposed funding on the balance of funds for the category to be drawn from for the period funded.

    The assessment criteria for proposals in the category of innovation, economic development and environment projects or activities are as follows:
    1. Evidence of the innovation, economic or environmental benefits that will be provided;
    2. Evidence that the benefits will be for the people of Christchurch; and
    3. Evidence that the benefits will be experienced now and in the future.

    The assessment criteria for proposals in the category of Civic and community projects and activities are as follows:
    1. Evidence that the proposal is for a specific project or activity projects;
    2. Evidence that the project demonstrates a benefit for the City of Christchurch, or its citizens, or for a community of people living in Christchurch; and
    3. Evidence that the benefits will be experienced now and in the future.

These resolutions reflect the original policy set up in March 2001 and amendments made in July 2001, March 2004, June 2004, February 2009, January 2016 and April 2018.