Scoop has an Ethical Paywall
Work smarter with a Pro licence Learn More

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

 

Whangarei District Council’s books better than the govt's!

News Release

23 May 2017

Whangarei District Council’s books better than the government’s!

Whangarei District Council’s management and councillors are reveling in an outstandingly positive report from international credit rating agency Standard and Poors (S&P).

The agency has confirmed a AA credit rating for the Council, stating that it is the highest credit rating possible in New Zealand.

“In short, we have hit the credit-rating ceiling for New Zealand, ours can’t go any higher than the Central Government’s. If New Zealand’s credit rating was higher, ours would be too,” said WDC Finance Committee Chairman Cr Shelley Deeming.

“Council’s credit rating has moved from AA- to AA in the two years since the current financial strategy was adopted in the 2015 – 2025 Long Term Plan. This is an exceptional result and is directly attributable to Council preparing a robust financial policy and sticking to it.

“The agency said Council’s management is focused on prudent financial management and has contributed to the council’s strong financial position, and it expects we will continue to improve our operating surplus by sticking to our rates policy, further strengthening our surplus and reducing our debt ratio.

“That feedback provides a strong incentive to continue on this steady course. The agency says that any significant deviation from our current financial strategy, such as a major lift in capital expenditure without an increase in rates and other revenue, would see our credit strength diminish.

Advertisement - scroll to continue reading

Are you getting our free newsletter?

Subscribe to Scoop’s 'The Catch Up' our free weekly newsletter sent to your inbox every Monday with stories from across our network.

“I will be urging Councillors to remember this while developing the financial strategy in the 2018 – 2028 Long Term plan,” Cr Deeming said.

“Standard and Poors said our focus on prudent financial management has contributed to the strong result and that the current management restructure will help to align our business activities to enable better delivery of services. The agency also commended us for clearing a backlog of infrastructure improvements.”

Mayor Sheryl Mai said it was enormously satisfying to get this level of recognition from an independent, internationally recognized agency.

“Their praise is not just for the way we handle money. It is also for a range of measures we have taken to improve our operation and results for our customers.

“Everything we have done in recent years has focused on getting the absolute best value for dollar for ratepayers in terms of service, assets and financial management. It’s paying off, and we are on a roll.”


© Scoop Media

Advertisement - scroll to continue reading
 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines



Gordon Campbell: On Dune 2, And Images Of Islam


Depictions of Islam in Western popular culture have rarely been positive, even before 9/11. Five years on from the mosque shootings, this is one of the cultural headwinds that the Muslim community has to battle against. Whatever messages of tolerance and inclusion are offered in daylight, much of our culture tends to be hostile to Islam when we’re sitting in the dark, with popcorn.
Any number of movie examples come to mind, beginning with Rudolf Valentino’s role (over a century ago) as the romantic Arab hero in The Sheik...
More


 
 


Government: One-stop Shop Major Projects On The Fast Track

The Coalition Government’s new one-stop-shop fast track consenting regime for regional and national projects of significance will cut red tape and make it easier for New Zealand to build the infrastructure and major projects needed to get the country moving again... More

ALSO:


Government: GPS 2024: Over $20 Billion To Get Transport Back On Track
Transport Minister Simeon Brown has released the draft Government Policy Statement (GPS) on Land Transport, outlining the Coalition Government’s plan to build and maintain a transport system that enables people to get to where they need to go quickly and safely... More

ALSO:

Government: Humanitarian Support For Gaza & West Bank

Winston Peters has announced NZ is providing a further $5M to respond to the extreme humanitarian need in Gaza and the West Bank. “The impact of the Israel-Hamas conflict on civilians is absolutely appalling," he said... More


Government: New High Court Judge Appointed

Judith Collins has announced the appointment of Wellington Barrister Jason Scott McHerron as a High Court Judge. Justice McHerron graduated from the University of Otago with a BA in English Literature in 1994 and an LLB in 1996... More

 
 
 
 
 
 

LATEST HEADLINES

  • PARLIAMENT
  • POLITICS
  • REGIONAL
 
 

InfoPages News Channels


 
 
 
 

Join Our Free Newsletter

Subscribe to Scoop’s 'The Catch Up' our free weekly newsletter sent to your inbox every Monday with stories from across our network.