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

 


Manukau Water Steps Out

Media Release
04 July 2006


Manukau Water Steps Out

Manukau Water Limited took its first steps as the city’s stand-alone manager and operator of the city’s water and wastewater services and assets this week.

On Friday afternoon (30 June) Manukau Mayor Sir Barry Curtis and Manukau Water Limited chairman James Hill signed the documents that formally sealed the company’s future as a Council Controlled Organisation.

Ownership of the water and wastewater assets were transferred to Manukau Water Limited today in the Agreement for the Transfer of Ownership of Assets. However, the council still retains ultimate ownership through its 100 percent shareholding.

Manukau Water Limited will operate under a Statement of Intent and Constitution, approved by Council in April, which details the activities and intentions of Manukau Water Limited for next year. It also allows Manukau City Council to influence the direction of the organisation and to hold the directors accountable for the performance of the organisation.

Sir Barry says Manukau Water Limited has been established with a financial structure that requires Manukau Water to perform well.

“However,” Sir Barry says, “we have also made sure the company will have operating cash flows sufficient for it to run effectively and maintain and replace its assets as required.

“The company will pay rates in the same way as other utilities and this, together with additional benefits from forming the company, has contributed to Manukau City’s projected rate increases being amongst the lowest in the Auckland region.”

Mr Hill says that performance targets have been set in key areas and the Manukau Water team is highly motivated and looking forward to meeting the challenge, which includes the company taking on some demanding targets.

“Our assets have recently been revalued and the additional depreciation charges on the revalued assets to establish the transfer price will result in a ‘paper’ loss in the first few years. However, our forecasts show that we will have adequate cash flows and funding facilities from day one.”

Sir Barry says establishing Manukau Water Limited will deliver further benefits for ratepayers while retaining a social focus.

“The change to a Council Owned Organisation ensures full ownership and control of assets stays with Council. As well, Council will continue to approve how water and wastewater tariffs to consumers are set,” Sir Barry says.

Manukau Water Limited has an independent board of directors reporting to the Council, its own balance sheet and a financial structure appropriate for a utility company.

Manukau Water serves about 315,000 people living in an area covering 552 square kilometres and has infrastructural assets of almost a billion dollars and an annual turnover of nearly $85 million.

ENDS


Manukau Water Limited Board of Directors
James Hill (Chairman)
Alan Bickers
Peter Drummond
Kevin Johnson
Ron Pearson
Rabin Rabindran

© Scoop Media

 
 
 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

 

Wellington: Predator Free Capital Plan

Wellington City Council (WCC), the Greater Wellington Regional Council (GWRC) and NEXT Foundation, today announced a joint collaboration to make Wellington the first Predator Free capital city in the world. More>>

ALSO:

Gordon Campbell: On Judith Collins’ Efforts At Self Correction

Thousands of prisoners currently in prison may be entitled to an earlier release than expected – and compensation – because Corrections has incorrectly calculated their term of imprisonment. Unless of course, the government buries its mistakes by changing the law and retro-actively getting itself off the hook… More>>

ALSO:

More Justice & Corrections

Sector Opposes Bill: Local Government Bill Timeframe Extended

The Minister of Local Government Peseta Sam Lotu-Iiga has asked the Select Committee to extend the report back date for the Local Government Act 2002 Amendment Bill (No 2). More>>

ALSO:

Breed Laws Don’t Work: Vets On New National Dog Control Plan

It is pleasing therefore to see Louise Upston Associate Minister for Local Government calling for a comprehensive solution... However, relying on breed specific laws to manage dog aggression will not work. More>>

ALSO:

Not Waiting On Select Committee: Green Party Releases Medically-Assisted Dying Policy

“Adults with a terminal illness should have the right to choose a medically assisted death,” Green Party health spokesperson Kevin Hague said. “The Green Party does not support extending assisted dying to people who aren't terminally ill because we can’t be confident that this won't further marginalise the lives of people with disabilities." More>>

ALSO:

General Election Review: Changes To Electoral Act Introduced

More effective systems in polling places and earlier counting of advanced votes are on their way through proposed changes to our electoral laws, Justice Minister Amy Adams says. More>>

Get More From Scoop

 

LATEST HEADLINES

 
 
 
 
 
 
 
 
 
Regional
Search Scoop  
 
 
Powered by Vodafone
NZ independent news