Chapter F15 Funding assistance for multi-party projects

F15.2 Funding assistance for 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 must 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:

• the organisation responsible for the overall project management and recovering costs from other parties (the lead organisation)
• 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.

Claims

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

When required in terms of the agreement, each claim made by the lead organisation must be supported by a financial summary report using the form on the following page.

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.

Financial summary report

Print version: Multi-party projects - financial summary report (PDF, 17 KB)