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Rates Up 4.2%, Public Debt Increasing

21 January 2001

The Waipa District Council is evaluating the next years estimates in preparation of the draft Annual Plan release in March.

"The preliminary Estimates for the 2001/02 year provide for total operating expenditure of $37.748 million, capital expenditure of $22.579 million and total revenues of $37.725 million inclusive of a total rates revenue requirement of $19.887 million," Corporate Services Manager John Mills stated.

"The preliminary Estimates propose a 4.2% increase in total rates requirement while holding charges for water and sewerage disposal at the same levels as 2000/01 and after absorbing increased operating costs of the Trust Waikato Te Awamutu Events Centre/Pool."

"To acheive this, $650,000 of one off items that should proceed in the 2001/02 year (would equate to a 3% rates increase) have to be funded only $350,000 from rates with the balance to come from unspecified savings made throughout the year."

John Mills report to Council also indicates a further rates increase in 2002/03 of 6.1%, while public debt has jumped from $13,149 million last year to a new level of $21,769 million and is expected to increase to $28,931 in 2002/03 then $32,161 million in 2003/04. The new current level in equal to approximately $1416 per rateable property or about $549 per head of district population.

Public fears of a $5 million loan funded Te Awamutu Museum project have also been confirmed for the 2002/03 year. The initial draft plan and revised estimates will be prepared for February. Council will be adopting the draft Annual Plan in March for public comment and hearing public submissions in May. The Annual Plan will finally be adopted in June and rates struck in July.


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