Reallocation of Electra Trust Dividend


Well, well. So the Mayor of Kāpiti had decided that the Kāpiti Coast District Council should have been able to access the beneficiaries dividend fund managed by Electra Trust to help subsidise Council approved community projects. How outrageous.

Thank goodness we have at last been advised of a responsible decision from Council. They actually agreed to say no. A big thank you to Councillor Molineux, for having the gumption to speak out and give this issue the publicity it deserves.

This particular matter had been an agenda item during a public excluded meeting of Council on Thursday 03 June, with the Mayor supporting and recommending voting for a Council nomination, to the board of trustees of Electra Trust. Specifically this would be the deputy mayor Ann Chapman (an Electra Trustee candidate) who would also be in favour of diverting funds away from beneficeries discounts.

Remarkably the deputy mayor chose not to attend the meeting, presumably because of conflict of interest. Even more remarkable is the Electra Trust candidate mission statement by Ann Chapman which in no way indicates her interest in a partial siphoning off of discounts from the 42,000 beneficiaries of Electra Trust.

There is too much wrong here for sweeping under the carpet. The action of the Mayor, Council’s Chief Executive, and collusion by the deputy mayor is out of order and totally unacceptable.

1. This matter does not qualify for inclusion and should never have been an item in a

Public Excluded agenda. The Chief Executive Officer should be asked to explain.

2. The Mayor of Kāpiti has no mandate to speak for, act or represent the 42,000

beneficiaries of Electra Trust or attempt to influence how the Trust should operate.

3. The deputy mayor, as a consequence of her involvement was prepared to falsely

represent her intention to Electra Trust beneficiaries and should withdraw her


All round a classical example of political ineptitude and deception which will not be quickly forgotten.

Mike Cardiff