Local Govt | National News Video | Parliament Headlines | Politics Headlines | Search

 

IA's net worth at year end: $819 million


IA’s NET WORTH AT YEAR END $819 MILLION

Statement made by John Robertson, Chairman, Infrastructure Auckland

After making grants of $127 million, funding agency Infrastructure Auckland reported an audited net surplus before taxation of $6.1 million for the financial year ending 30 June, 2002.

This surplus is consistent with the forecast built into IA’s 2002 annual plan and long term funding plan as a funding source for grants.

At year end our public equity and net worth was $819.4 million, up $105.2 million on the position 12 months’ previously.

A key factor contributing to the better than planned performance was income, at $137.2 million. The major portion of this came from Ports of Auckland making a capital return to shareholders, with our share of this being $66.4 million.

Through active management by our investment team and by working closely with Ports of Auckland, our investment returns including dividends was $70.4 million.

A strong management focus on total operating expenses saw these held to $4.3 million, 2% below last year’s expenditure.

Infrastructure Auckland entered the 2003 financial year in a strong financial position and with the resources to make a significant, but only partial, contribution to funding the region’s future passenger transport and stormwater infrastructure needs.

While through prudent management and timing our funds are greater than anticipated at this stage, within the context of the region’s need for funds our resources are limited.

IA looks forward to continuing to prudently manage and distribute its limited funds in a transparent, collaborative and enterprising manner.

© Scoop Media

 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

KiwiBailed: KiwiBuild Head Officially Resigns

The head of Kiwibuild, Stephen Barclay has officially resigned from the role. In a statement issued on his behalf, it was announced that he would step down from today [Friday].

Housing Minister Phil Twyford's office said he would not be commenting on Mr Barclay's resignation as it was an employment matter. Last month, Mr Twyford confirmed that Mr Barclay had not been at work for a number of weeks. More>>

 

Welfare Stats: Rise In Hardship Numbers Shows Income Inadequacy

The latest Ministry of Social Development quarterly report show that a record number of people have received hardship assistance from work and income, with an additional 40,000 hardship payments made between September and December 2018, compared to the previous quarter of the same year... More>>

ALSO:

DHBs "Prepared": Junior Doctors Strike Again

The needs of acute patients will be met during tomorrow's junior doctor strike, a DHB spokesperson says... Almost 3000 junior doctors are expected to walk off the job, which will affect all DHBs apart from West Coast District Health Board. More>>

ALSO:

Gordon Campbell: On MBIE’s Social Media Scam

Given the ambit of MBIE’s work, almost any form of social activity could qualify as being part of MBIE’s brief, so the privacy threats posed by this training programme are extensive. The current oversight safeguards seem threadbare to non-existent. More>>

ALSO:

JusTrade: New Campaign For A 21th Century Trade Agenda

‘Critique is no longer enough. If anything is to really change, we need to step away from the existing framework and take a first-principles approach to rethinking what will work for the 21st century.’ More>>

Earlier:

Gordon Campbell: Thompson + Clark Are The Tip Of The Iceberg

How can we tell where and how any lines are being drawn? Oversight is not exactly robust. If it were, Thompson + Clark would have been out of contention for state security work ten years ago. More>>

Trainers: Taratahi Institute of Agriculture In Interim Liquidation

Taratahi employ 250 staff and this year has provided education to over 2500 students. Taratahi owns and manages 8 farms throughout the country. More>>

ALSO:

IPCA Report: Complaints About Deputy Commissioner Wallace Haumaha

The Authority has found that DC Haumaha acted improperly by approaching staff and others to provide information to support him to refute the allegations about his 2016 conduct, or solicited other staff to do so on his behalf... More>>

ALSO:

 
 
 
 
 

LATEST HEADLINES

  • PARLIAMENT
  • POLITICS
  • REGIONAL
 
 

InfoPages News Channels