Funding assistance for multi-party projects

Introduction

This section sets out the guidance on funding assistance for and management of multi-party projects.

Funding agreement

Funding assistance for multi-party projects is conditional on the parties entering into a formal funding agreement. The extent of detail required in the agreement will depend on the size, complexity and duration of the project.

Each multi-party funding agreement should be developed in consultation with the appropriate NZTA regional representative, executed by the parties involved and sent to the NZTA regional representative prior to funding being released.

Content of agreement

The multi-party funding agreement must include the following:

• Identification of the lead organisation, who is responsible for the overall project management and recovering costs from other parties
• the total project cost, the total cost of each phase and the agreed division of these costs between each party, and whether a financial summary report is required
• the organisation responsible for reporting to the NZTA on project changes
• the organisation responsible for preparing and updating the economic analysis at project key points
• how the parties’ separate interests are protected within the contractual arrangement
• a risk-sharing and approvals procedure for any variations, contractual disputes, etc
• the basis for accounting for the respective parties’ costs associated with the project.

Programming

Each organisation must identify its specific portion of the project cost in the RLTP A regional land transport plan, prepared under Part 2 of the LTMA, as from time to time amended or varied. .

Claims

Each organisation must claim funding assistance for its portion of the project cost.

Transport Investment Online

In Transport Investment Online (TIO The NZTA's web-based funding allocation system. ), the lead organisation creates one of the following activity types: Programme Business Cases (for support through the Business Case Approach) and specifies the contributing organisations.

Each contributing organisation creates an activity which details their specific portion of the project cost and selects the package/strategy which the activity is part of.

NZTA audit of multi-party projects

The NZTA may audit multi-party projects at any time to confirm that all accounting and reporting requirements are being met.