1993/94  ‘Residual’ functions

Our original ‘residual’ functions: The CHFA (formerly the Residual Health Management Unit (RHMU)) was established by the Health Sector (Transfers) Act 1993, and continues under Section 57 of the New Zealand Public Health and Disability Act 2000.

The CHFA is a Crown agent for the purposes of the Crown Entities Act 2004.

The CHFA was established in 1993 to assume responsibility for a range of former Area Health Board assets and liabilities. At the time, the CHFA was also responsible for providing advice, assistance, and a limited amount of debt funding to the Crown Health Enterprises and their successors, the Hospital and Health Services. 

1999/00  Property function

Addition of the property function: In 1999, the CHFA was assigned the function of assisting DHBs to dispose of surplus properties to release funds for reinvestment in the sector. 

2001/02 Crown lender

Addition of the lending function: After the DHBs were established, the CHFA was assigned the function of Crown lender to the sector in 2001. This new role followed the introduction of a new Government policy which transferred DHB private bank debt back to the Crown.  The lending role also includes providing independent advice on the financial performance of DHBs to the Minister of Health and Minister of Finance.

2004/05 Diversification of property and financial advisory services

Financial advisory services: During 2004/05, the CHFA continued to enhance the core services and successfully broadened the scope of property and financial advisory services. During that year, the CHFA adopted it’s current name to more appropriately reflect its ongoing role and range of services provided to the DHBs.