A major announcement about the future of Dunedin's council-owned companies is expected today, after political ructions that have soured city politics since July, and a behind-closed-doors meeting yesterday.
The announcement will follow the Dunedin City Council's acceptance yesterday of its companies' annual report, despite some tense debate among councillors.
Dunedin City Holdings Ltd's (DCHL) annual report, released in September, showed a healthy profit and multimillion-dollar dividend to the council.
Council finance and corporate support general manager Athol Stephens said in a report to a full council meeting yesterday it was "an excellent result for the year".
DCHL chairman Paul Hudson and company directors "have discussed with councillors at some length details of the performance of the companies".
Debate focused on the size of the dividend to the council, and whether it was sustainable.
The council voted by a majority to accept the report, with Cr Teresa Stevenson abstaining.
The public-excluded section of the meeting included an item on CCTO (council-controlled trading organisation) governance.
Asked about that yesterday, Mayor Dave Cull said a press conference today would explain what was discussed.
