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

 

Council responds well to challenging year

1 September 2005

Wellington City Council responds well to challenging year

Wellington City Council has achieved strong financial results in a challenging year.

Councillors last night adopted the Council’s annual report for the year ended 30 June 2005. The Council has reported a net surplus of $3.786 million for the year ended 30 June 2005, compared with a budgeted deficit of $9.233 million.

Wellington City Council Acting Chief Financial Officer Neil Cherry says the favourable turnaround is due to several sources of unbudgeted revenue. The Council does not usually budget for these, as they are either non cash in nature or result from year-end accounting adjustments only. They include:

- vested assets such as donated assets, assets provided by developers and assets transferred from the Crown ($12.1 million)
- net gains on the sale of various assets including the Chews Lane Precinct ($3.3 million)
- revenue received from bequests, including JR Hancock ($1.8 million)
- additional Transfund subsidies received for roading projects ($0.9 million)
- surpluses from our joint ventures with Porirua City Council (Spicer Valley Landfill and Wastewater Treatment Plant) and the Wellington Waterfront Project ($0.6 million)

Wellington Mayor Kerry Prendergast says this is an excellent result, particularly in view of many unforeseen challenges.

“We did well despite costs associated with the clean-up of the city after the heavy storm which devastated trees on Tinakori Hill, increases in construction costs and the lack of any dividend from Wellington International Airport.

“We are dedicated to good stewardship of city assets and finances. With all these challenges we have performed ahead of budget for the sixth consecutive year, demonstrating that the Council acts in a financially prudent manner, while delivering high quality services to the residents of Wellington.”

Chief Executive Garry Poole says 2004/05 was a year of significant progress for Wellington in building a world-class, creative and innovative city as well as ensuring our city is run sustainably, with high-quality infrastructure, safe roads and a strong transport network.

“Infrastructure highlights include the completion of the new inner-city stormwater system, the construction of two new water reservoirs at Maupuia and Roseneath, and the beginning of stormwater work related to the inner-city bypass. Other significant projects started or finished during the year include the construction of the Tawa Recreation Centre and renewals work on our library and housing portfolios.”

ENDS

© Scoop Media

 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

RBNZ To RNZB: PM's Press Conference

Prime Minister Jacinda Adern was joined by Minister of Finance Grant Robertson and Minister for Children Tracey Martin to announce the appointment of Adrian Orr as the new Governor of the Reserve Bank and the name change of the Ministry for Vulnerable Children to ‘Oranga Tamariki - Ministry for Children’.

Robertson said he and the Cabinet viewed Orr in high regard. Terms will be agreed on his employment after the reserve bank act review. The future governor's pay would be greatly reduced - in the same scale as the most recent governor. More>>

 

'Taming Globalised Capital': Why Is Labour Supporting Investment Rules In WTO?

‘Today, we learned the new government has added New Zealand’s name to a proposal designed to lead to foreign investment rules in the WTO at this week’s ministerial meeting in Argentina,’ said Auckland University Professor Jane Kelsey. More>>

ALSO:

Gordon Campbell: On The Politics Of Scaring Voters Back Into Line

Fear has always been a useful mobilising tool in politics… yet in 2017, bogeymen of all shapes and sizes seem to have fallen on hard times. For years, the National party had painted itself as being the only reliable defensive bastion against the terrifying prospect of a centre-left government… More>>

ALSO:

Gordon Campbell: On Drinking Water As A Failure Of Political Leadership

It is almost possible to feel sorry for the Health Ministry in their terrible, no good, very bad week... More>>

ALSO:

Gordon Campbell: On Saying ‘Work For The Dole,’ Nicely

As New Zealand First learned the hard way from its two previous periods in government, small parties in MMP coalitions get blamed for the unpopular stuff done by their senior partner in power, but no one remembers the good stuff the junior player brought to the table... More>>

ALSO:

Seismic Blasting: Greenpeace Launches Legal Challenge Against Amazon Warrior

A legal challenge against the world’s largest seismic oil exploration ship was launched at a public rally on Parliament Lawn. More>>

ALSO:

Tertiary: 80,000 People Eligible For Fees Free

The Government has today made good on its 100-day promise of delivering the first year of fees-free post school training and education and industry training from 1 January next year, says Education Minister Chris Hipkins. More>>

ALSO:

 
 
 
 
 

LATEST HEADLINES

  • PARLIAMENT
  • POLITICS
  • REGIONAL
 
 

Featured InfoPages