IWI IKA - supporting iwi fisheries

Keeping AHC costs down

Tips to Saving Money for your AHC

  1. Set a Budget
    If you haven’t done so already set a 12 month budget of income and expenses for your AHC.  First, work out how much money you will receive from ACE sales and any other income source.  Generally you should receive two payments: one in April-May for your April ACE sales and the other in October-November for your October ACE sales.  Then work out how much you are likely to spend on expenses/outgoings such as fees and levies, rent, expert advice, staff, etc…  We have developed a 12-month AHC budget template to help you.

  2. Collect ACE Sales Payments up Front
    Rather than the purchaser of your ACE paying you after they’ve caught your ACE negotiate for payment to be made prior to transferring your ACE.  Not only will receiving payment up front bolster your cashflow, it will lower the risk of you losing money should the purchaser get into financial difficulty.

  3. Share Costs
    Some iwi have a MIO that perform functions that require staff and office space.  Rather than establish a separate office for the AHC, you may want to consider whether it would be more cost effective for the AHC to share staff and office space with your MIO or other iwi organisation.  This is especially effective where the activities of the AHC are such that it only requires part-time staff and office space for a few weeks of the year.

  4. Setup Direct Debit Payments with Fishserve
    If you don’t pay your Fishserve levies by the due date you could be stung with payment penalties.  To avoid this setup a direct debit payment system so that all Fishserve levies are paid automatically and on time.  Then you don’t have to worry about meeting payment dates and you won’t have to waste money on unnecessary payments.  To obtain a direct debit form contact Fishserve on (04) 460 9555.

  5. Shop Around
    Shop around for a good deal on your ACE.

  6. Use Fishserve Online Services
    You have the option to carry out Fishserve transactions, such as the transfer of ACE, manually using paper forms or online via the Fishserve website.  The cost of online transactions are significantly cheaper than manual costs.  Not only that but automatic transactions take a lot less time to complete.

     Transaction Type Details Charges (incl. GST)
    ACE Transfer Manual Base Fee & 1 line $29.25
        Each extra line $3.00
      Electronic Flat rate $16.65

  7. Free Quota Valuation
    Rather than pay for your accountant to obtain a valuation of your quota every year, contact teohu and they can provide you with a free copy of their valuations to give to your accountant.