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

 


Annual Report: Wellington is in great shape

Annual Report: Wellington is in great shape

Wellington City Council’s 2013-14 Annual Report was formally approved this afternoon – and it shows that not only are the Council’s finances healthy and prudently-managed but that the city itself is in great shape.

Mayor Celia Wade-Brown says the refreshed Council elected in 2013 is focused on transforming Wellington City and serving its residents. “Our finances are healthy and we are meeting 12 of the 13 legislated financial benchmarks,” she says. “Wellington is in great shape as a city. Together we have the people and financial capacity to do more.”

Highlights for the Council included its contribution to progressing a proposed extension to the airport runway, working on a proposed new convention centre, bringing the waterfront management company ‘in-house’ and advancing plans for a film museum.

In the 2013-14 financial year the Council also:
• put forward an economic growth agenda underpinned by 8 Big Ideas
• agreed the 2014/15 Annual Plan in record time without making service cuts
• tripled our investment in cycling as part of that plan
• struck a 2.5% rates rise
• established a $3 million a year fund to support events, initiatives and growth opportunities
• participated in the merger of the region’s economic CCOs into one agency
• began the upgrade of the Keith Spry Pool (scheduled to reopen in summer 2015)

• installed a new artificial turf at Alex Moore Park and upgraded Grasslees Reserve at Tawa

• expanded and upgraded the pedestrian and cycle network, including completing the Tawa Valley path

• invested $5 million in the $60 million National War Memorial Park project

• completed design work for the Cenotaph as part of the project to upgrade the Parliamentary Precinct.

Councillor Mark Peck, Chair of the Council’s Audit and Risk Subcommittee, which oversees the annual reporting process, said council officers can be proud that Wellington City Council is once again the first local authority to finalise its annual accounts and complete the Annual Report.

He told today’s meeting of the Governance, Finance and Planning Committee: “We deliver value for money! The services we provide cost Wellingtonians $5.82 per day, less than a household spends on power.”

He said the Council maintained its AA credit rating with Standard and Poor’s. “The effect of this rating is that it provides the Council with a reduced cost of borrowing.”

For 2013-14 the Council achieved an underlying surplus of $1.2 million - reflecting what it collects through rates, investments and other sources (fees and charges) subtracted from what it spends on services. Cr Peck said the relatively small surplus reflects the council’s commitment to intergenerational equity, or in other words that “each generation of ratepayers should pay for the services they consume.”

The Council spent significantly less on capital programmes than budgeted due largely to the deferral of work to earthquake strengthen the Town Hall.

Cr Peck stressed that Council debt remains low. Net debt stands at $346 million while Council investments are worth $404 million.

The draft 2013-14 Annual Report, as considered today, is here.

The final Annual Report, in printed and online versions, will be available on 26 September.

ends

© Scoop Media

 
 
 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

Scoop Editor "Ask me anything" : Scoop's 'Invisible Paywall'

Operation Chrysalis: The Final Countdown - Thanks & There's Still Time To Pledge

Phew! We are now counting down the hours to the end of this crowd-funding campaign at 11pm on Sunday. Thankyou to all those Scoop readers and supporters who have pledged already. You have been awesome. But this is not over yet. More>>

 
 

PARLIAMENT TODAY:

IPCA Reports: Significant Problems In Police Custody

In releasing two reports today, the Independent Police Conduct Authority has highlighted a number of significant problems with the way in which Police deal with people who are detained in Police cells. More>>

ALSO:

Inspector-General of Intelligence and Security: Inquiry Into GCSB Pacific Allegations

The complaints follow recent public allegations about GCSB activities. The complaints, and these public allegations, raise wider questions regarding the collection, retention and sharing of communications data. More>>

ALSO:

TPPA Investment Leak: "NZ Surrender To US" On Corporates Suing Governments

Professor Jane Kelsey: ‘As anticipated, the deal gives foreign investors from the TPPA countries special rights, and the power to sue the government in private offshore tribunals for massive damages if new laws, or even court decisions, significantly affected their bottom line’. More>>

ALSO:

Werewolf: The Myth Of Steven Joyce

Gordon Campbell: The myth of competence that’s been woven around Steven Joyce – the Key government’s “Minister of Everything” and “Mr Fixit” – has been disseminated from high-rises to hamlets, across the country... More>>

ALSO:

RMTU: No Public Submissions On International Government Procurement Deal

“The government is preparing to assent to the Government Procurement Agreement, a World Trade Organisation Treaty which opens up New Zealand Government contracts to foreign companies and closes the door on local businesses and their workers. However the Foreign Affairs, Defence and Trade Select Committee is refusing to take public submissions on the decision.” More>>

ALSO:

Gordon Campbell:
On Pacific Spying

So New Zealand spied on its friends and allies in the Pacific – and has not only been passing on the results to the NSA, but has apparently passed on the details of the Pacific’s relations with Taiwan to our other best friends, the Chinese. On the side, the Key government has also been using the security services to gauge the chances of Trade Minister Tim Groser landing the top job at the WTO... More>>

ALSO:

State Housing Transfer: Salvation Army Opts Out

The Salvation Army has decided against negotiating with Government for the transfer of Housing New Zealand stock.
More>>

ALSO:

Get More From Scoop

 

LATEST HEADLINES

 
 
 
 
 
 
 
 
Regional
Search Scoop  
 
 
Powered by Vodafone
NZ independent news