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Council acts to cut spending

Media Release
2 December 2008

Council acts to cut spending

Manukau City Council has shaved around $6 million from its operational spending, and has deferred capital projects worth around $15 million as it responds to the effects of the economic downturn.

With revenue reduced by about $25 million on what was budgeted in June, the council has set up a Current Economic Conditions Working Party to overview the council’s response to current and emerging economic issues.

Accountability and Performance Committee Chair Cr Jami-Lee Ross says major projects which have not yet been contracted out have been deferred for this financial year.

“We must be prudent and we must take appropriate action. Our other option was to take on more debt. More debt would lead to higher lending costs and therefore higher rates to service the debt.

“While we have deferred some major projects, we are continuing to invest in the city’s development with more than $150 million still invested in current capital projects,” Cr Ross says.

The council will work with contractors to ensure that spending on those capital projects does not exceed the target of 77.5 per cent of budget.

Staff will also continue to identify capital and operational spending that can be deferred until later this financial year or until the 2009/10 financial year.

ENDS

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