Council, 1 May 2019.

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

  1. The purpose of the fund is for civic and community, innovation, economic development and the 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 the Council’s Investment Policy.
  4. The 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. No single project be funded for more than three years, except in exceptional circumstances.
  6. If desired, funds be carried forward to another year for allocation.
  7. 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. The value of the application is greater than $50,000.
  2. The project is not otherwise provided for through rates revenue or other funding sources available to Council.
  3. This discrete project has not received partial funding or has been refused under the SCF or Events and Festivals Fund.
  4. The project is not already underway but has run out of funding.
  5. The application is for something specific and new.
  6. There will not be ongoing Council operational investment required
  7. The project is a one-off with no expectation of future Council funding.
  8. Benefits will be experienced now and in the future.
  9. Demonstrates a benefit for the City of Christchurch, its citizens, or for a community of people living in Christchurch.

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.