The Waitaki District Council has turned in a positive financial result against the first year of the 2012-22 Long-Term Plan.
Figures released last week by the council’s chief executive Michael Ross show the result has been achieved with a significantly better operating position compared to budget; improved asset values, including council’s cash position and reduced debt, including internal borrowing.
In his annual report, Mr Ross said the actual surplus of $1.96 million compared favourably to a budget surplus of $185,000.
“Various factors contributed to this result including extra revenue and good cost control, as well as some one-off events,” he said.
“This means council will have some further options available to it to take some pressure off rates and increase the capacity to respond to change.
“These were both objectives council set in the 2012-22 Long-Term Plan.”
Mr Ross said the last 12 months had seen a great deal of change for local government and for Waitaki as a district.
“Government reforms continued over the period, which amongst other things has changed what councils can and cannot do,” he said.
“More change is expected as the Government continues to roll out its reforms and responds to the Royal Commission on the Canterbury earthquakes.
“This is likely to have implications for property owners in the district which council will need to respond to over the next 12 months.”
Mr Ross’s chief executive report will be tabled at today’s meeting of the Waitaki District Council.