Source: MIL-OSI Submissions
Source: The Treasury
The second round of Investor Confidence Rating (ICR) assessments for six District Health Boards (DHBs) is now complete. The DHBs assessed are Auckland, Capital and Coast, Canterbury, Counties-Manukau, Waikato and Waitematā.
The ICR is an incentive mechanism for investment-intensive government agencies that rewards good investment management performance and proactively addresses performance gaps. Ratings are an indicator of the confidence that investors can have in an agency’s capacity and capability to realise a promised investment result if funding were committed.
Assessment focuses on the frameworks and processes underpinning an agency’s investment and asset management capability. It does not look at an agency’s investment choices, current funding streams, or their current financial position.
The ICR uses a rating scale from A to E, with an ‘A’ rating signalling a high level of performance and an ‘E’ rating indicating significant assistance may be required for the agencies investments to deliver results. A ‘C’ rating means that the status quo investment management system arrangements remain in place.
Comparing each DHB’s rating from their first assessments in 2016, Auckland, Canterbury and Waitematā retained their ‘B’ rating; Capital and Coast and Waikato retained their ‘C’ rating; and Counties-Manukau reduced from an ‘A’ to a ‘B’ rating.
Improvements to the ICR assessment process between rounds have made it more rigorous. Therefore, having an improved ICR or retaining the same result are both positive outcomes, and a decrease in score or rating for this round does not necessarily indicate a deterioration in maturity and performance, or lack of improvement.
All six DHBs assessed have activities underway to improve their investment maturity and performance, and have acted upon previous improvement recommendations from the first round of assessment.