NZTA investment policy - overview

Introduction

This section introduces the Transport Agency's investment policy.

Activity classes

Activities in which the NZTA can invest funds from the National Land Transport Fund (NLTF The fund established under section 10 of the LTMA ) are organised into activity classes that are defined in the current Government Policy Statement on Land Transport (GPS A Government Policy Statement on Land Transport Funding issued under section 86 of the LTMA ). The Transport Agency cannot invest funds from the NLTF The fund established under section 10 of the LTMA in activities that are not defined in a GPS A Government Policy Statement on Land Transport Funding issued under section 86 of the LTMA activity class.

The GPS A Government Policy Statement on Land Transport Funding issued under section 86 of the LTMA requires that funding invested by the Transport Agency in a National Land Transport Programme Interrelated and complementary combination of activities that, when delivered in a coordinated manner, produce synergies – can span more than one work category and more than one activity class, e.g. a programme could include a road improvement and public transport improvement activities. (NLTP A National Land Transport Programme Interrelated and complementary combination of activities that, when delivered in a coordinated manner, produce synergies – can span more than one work category and more than one activity class, e.g. a programme could include a road improvement and public transport improvement activities. adopted by the NZTA under section 19 of the LTMA, as from time to time amended or varied ) must be allocated within the funding ranges set out in the GPS A Government Policy Statement on Land Transport Funding issued under section 86 of the LTMA .

The Transport Agency organises activity classes into work categories, mainly for accounting and reporting purposes. Work categories can provide further definition of activities that are eligible for investment from the NLTF The fund established under section 10 of the LTMA and, in some cases, may have specific Funding Assistance Rates.

Investment Assessment Framework

The Investment Assessment Framework is the means by which the Transport Agency aligns investment from the NLTF The fund established under section 10 of the LTMA to the government's results set out in the GPS A Government Policy Statement on Land Transport Funding issued under section 86 of the LTMA . It does this by rating the strategic fit, effectiveness and benefit and cost appraisal of proposed activities to form an assessment profile The three-part rating for an activity, rated as high, medium or low e.g. HMM, and representing the assessment for Strategic Fit, Effectiveness, and Benefit and Cost Appraisal respectively. . The profile is then used to prioritise activities for NLTF The fund established under section 10 of the LTMA investment.

Funding assistance and sources

Most funding for land transport investment is sourced from the NLTF The fund established under section 10 of the LTMA , Approved Organisations' local share and supplementary funds Funding contributions that are additional to the contributions of the NZTA and standard approved organisation local share. They usually reflect third party benefits. .

The NLTF The fund established under section 10 of the LTMA funds are further categorised as:

• regionally distributed (R) funds,
• Crown (C) funds,
• nationally distributed (N) funds.

A full description of these can be found in the funding assistance and sources section.

Funding assistance policy and rates

The Transport Agency's funding assistance policy and rates can be accessed at this link.

Funding assistance for multi-party projects

Guidance for funding assistance to apply to multi-party projects is provided in this section.

Other funding related policy

Alternative funding approaches to support the NLTF The fund established under section 10 of the LTMA should be considered in certain circumstances. The Transport Agency has developed policy for tolling, debt funding and public private partnerships.