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

 


Smoke and Mirrors accounting seen as a desperate ploy

19 August 2013

Smoke and Mirrors accounting seen as a desperate ploy

Kapiti Coast District Council’s debt level is now so high that valuing land under the district’s roads may be seen as a desperate ploy to avoid bankruptcy says leading mayoral candidate Jackie Elliott”

“I appealed to the Corporate Business Committee last Thursday against the proposal on the agenda, that Council value the land to add a potential $300million to the debt/asset ratio. The public are not going to wear this smoke and mirrors accounting. They will see it as a vehicle with which you will borrow more money,” Ms Elliott told the meeting.

Under the KCDC proposal the land under roads would be revalued from $200million up to $500million.

Councillors requested that the decision be deferred until after the election, or until they had a definitive reply from LGNZ and the Auditors Office, however Senior Manager Warwick Read and CEO Pat Dougherty expressed no desire to wait for any outside clarification. With Mr Dougherty suggesting it could take LGNZ years to even answer their letter and formulate a policy.

Cr Lester, said he wanted KCDC to follow ‘best accounting practices’, and that this was standard practice for Councils.

“They chose to use commercial rates. So they believe the land under our roads is worth the same as any prime piece of commercial land for sale on the Kapiti Coast. I have seen some appalling decisions made by this Council over this triennium, but in my opinion this one takes the cake,” says Ms Elliott.

ENDS

© Scoop Media

 
 
 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

 

Departure Speech: Governor-General’s State Farewell Luncheon

"...Unfortunately I was unable to get to the Antarctic, the Chatham Islands and the Kermadecs. A dicky heart thwarted our travel to the Antarctic; and even though I volunteered to parachute into the Kermadecs to join the Young Blake expedition, time, commitments and officials frustrated my plans to visit the Kermadecs and Chathams." More>>

ALSO:

New Research: Most Homeless People Working Or Studying

“The cost of housing has been rising without corresponding increases in income, whilst the number of state houses per capita has been in decline. Many low-income people are missing out on housing, whether we recognise them as ‘homeless’ or not. More>>

ALSO:

Post-Traynor: New Offender Info Sharing Plan

“This Bill delivers on that step-change by moving away from name-based records held by individual agencies to a shared, anchor identity based on unalterable information, such as fingerprints and facial recognition. It also gives agencies access to the drivers’ licence photo database and birth, death and marriages information." More>>

  • NZ Law Foundation - New $2M fund for research on information challenges
  • Littoral: New Ship To Deliver Enhanced Naval Capability

    Defence Minister Gerry Brownlee says the Government has approved a Ministry of Defence and New Zealand Defence Force recommendation to request tenders for a new naval ship to support littoral operations. More>>

    July:

    After King's Labour Snub: Māori Party And Kiingitanga To Work Together

    Māori Party Co-leaders Te Ururoa Flavell and Marama Fox met with Kiingitanga representatives in Wellington yesterday to discuss working together on key issues for the betterment of Māori. More>>

    ALSO:

    Waitangi Claim On Rehabilitation: The 'Justus' System For Māori Not Good Enough

    Closing statements at the Waitangi Tribunal case against Corrections called for immediate steps and a comprehensive review to address the high rate of Māori reoffending. More>>

    ALSO:

    Advice: PM Sets Rules For Ministers' Treatment Of Public Servants

    Prime Minister John Key has laid down the law about the way ministers and public servants should interact, saying ministers may not always like the advice they receive, but they must listen to it carefully, respectfully and professionally. More>>

    Gordon Campbell: On The Funding Changes In Special Needs Education, And Uber

    The plan to strip out the educational support for older “special needs” children in order to meet the existing shortfall in funding for special needs in early childhood education is so miserly and relentlessly stupid as to defy belief… More>>

    SPECIAL EDUCATION (& More):

    Online Learning Plans:

    Get More From Scoop

     

    LATEST HEADLINES

     
     
     
     
     
     
     
     
     
    Regional
    Search Scoop  
     
     
    Powered by Vodafone
    NZ independent news