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Auckland City’s balance sheet healthy

Auckland City’s balance sheet healthy

Auckland City’s annual report shows New Zealand’s largest city is in a healthy financial position.

The annual report details the council’s achievements from 1 July 2004 to 30 June 2005.

Committee chairperson Councillor Vern Walsh says, “This annual report highlights efforts the council has put into ensuring ratepayers get value for money and shows that this council is putting rates into action.”

The report shows a net surplus of $96.1 million against a budget of $62.6 million as a result of revenue from airport shares, financial contributions, assets and the Metro Water charitable payment. This resulted in an $800,000 increase in the financial and capital expenditure surplus target from $15.1 million budgeted to $15.9 million.

Much of last year’s capital spend of $201.9 million was spent on transport initiatives ($77 million) that support public transport, such as providing bus lanes and widening roads.

“In addition to transport we have continued to focus on stormwater improvements and community infrastructure including a $10 million citywide upgrade of footpaths.

“We have also reinforced our commitment to investing in a sustainable city with completion of major environmental projects such as Waiatarua Reserve and Brady Road landfill.

“Last year’s activities show this council’s dedication to sustainable development through a robust economy, connected and involved communities, a vibrant cultural sector and a healthy natural environment. We are now planning to take this a step further with the introduction of targeted rates that are ring-fenced to fund key priorities facing the city,” says Mr Walsh.

The past year has also seen progress on work that furthers the council’s goal of creating a world class, international city, including: a 10-year action plan to transform the CBD consulting on plans for the future of Auckland’s CBD waterfront progress on the Vector Arena a venue for world-class sports and entertainment events new targeted rates established to address the key priorities facing the city: transport: spending increased by $14.1 million per year open spaces and volcanic cones: spending increased by $2.8 million per year heritage and urban design: generating $1.4 million per year (plus an extra $523,000 over and above the targeted rate). community development and housing: dedicated funding to develop and carry out initiatives and to investigate partnerships with relevant organisations to increase the amount of affordable housing around the city prudent management of debt that is line with Auckland City’s sustainable debt policy.

The annual report will be available at www.aucklandcity.govt.nz, in libraries and service centres on Friday, 7 October A summary will be delivered with City Scene on 9 October.

Ends

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