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Introduction

This section provides an overview of the Transport Agency's investment and funding assistance policy. 

Drivers of investment and funding assistance policy

The Transport Agency's investment and funding assistance policy is driven by:

 

  • Giving effect to the GPS

    Giving effect to the GPS

    The Government sets out its direction to the sector and Transport Agency over the next 10 years through its objectives, results and investment strategy set out in the GPS.  The Transport Agency must give effect to the GPS and does so by:

    • applying its Investment Assessment Framework  to investments proposed for inclusion in the National Land Transport Programme (NLTP), and subsequent funding from the NLTF, to give priority to those activities that will best deliver on the Government's desired long, medium and short term results set out in the GPS
    • allocating funding to the activity classes defined in the GPS within the funding ranges prescribed by the Government in the GPS
    • developing and managing the NLTP to optimise delivery of programmed activities within available revenue, including use of short-term debt to manage cash-flow variations.
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  • Crown funding outside of NLTF

    Crown funding outside of NLTF

    The Government provides Crown funding to progress transport activities outside of the NLTF, as either the activities do not have sufficient priority to be delivered in the current NLTP or they deliver on Government policy not covered by the LTMA. The Transport Agency delivers the activities as directed by the Government. Current Crown funds and loans are described at this link.

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  • Planning & investment principles

    Planning & investment principles

    The Transport Agency's planning & investment principles are a primary driver of its investment policy. In particular, the following aspects of the principles are seen as critical to its policy:

    • a collaborative approach to planning and development of investment opportunities
    • a transport network that is integrated across modes, within areas, e.g. inter-region/region/district/sub-district, and amongst organisations
    • progressive development of a robust, evidence based investment case under the business case approach
    • optimising the provision, use and maintenance of the network, particularly in the application of the investment hierarchy
    • right outcomes, at the right time, at the right cost and risk
    • those who pay should benefit, which underlies the Agency's funding assistance policy and expectations around supplementary (third party) funding.
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 Other related Transport Agency policy and guidance

 Other related Transport Agency policy and guidance includes:

  • planning, funding and procurement delegations policy
  • policy around the obligations for users of NLTF funds
  • raising revenue - tolling policy
  • debt funding and public private partnerships policy
  • FAR adjustment and front loading policy
  • funding assistance for multi-party activities
  • professional services and administration policies.

  

  • Delegations policy

    Delegations policy

    The authority to approve funding to specified levels has been delegated by the Board to Transport Agency staff and Approved Organisations. The delegations policy also enables the management of cash-flows for maintenance, low cost low risk improvements and public transport services programmes within approved levels.

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  • Significance policy

    Significance policy

    All NZTA employees and contractors with delegations need to consider the significance of every decision before the decision is made. The significance policy helps you assess if you need to elevate the decision to ensure it’s made at the appropriate level.

    Sub-delegates should consider what the impact of a decision made under that function or power will be on:

    • The capacity of the NZ Transport Agency to perform its roles and the costs associated with this.
    • The ability of the NZ Transport Agency to reach its goals and objectives.
    • Any persons likely to be particularly affected by the decision and the way in which they are going to be affected.

    The Significance policy and guidance(external link) page sets out NZ Transport Agency policy in relation to a “significance” threshold with respect to the delegation of functions and powers.  Note that this page is currently internal to the Transport Agency, but may be moved in future.  This policy is effective from 6 May 2016 and is due for review in 1 June 2018.

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  • Raising revenue - tolling policy

    Raising revenue - tolling policy

    Under the Land Transport Management Act the Transport Agency may propose tolling new roads and apply for an order in council to do so. Revenue from the tolling scheme flows into the NLTF. The Agency's policy on tolling may be accessed at this link.

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  • Debt funding and public private partnerships policy

    Debt funding and public private partnerships policy

    While the foundation of the NLTP is funded on a "pay-go" basis, i.e. investment is matched to the revenue available in a year, debt funding and public private partnership arrangements may be considered under the Agency's policy to advance large strategic projects with the approval of the Ministers of Transport and Finance.

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