Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 

Positive financial performance at regional council

15 August 2014

Positive financial performance at regional council

Waikato Regional Council has posted a very positive result for the last financial year, according to figures presented to yesterday’s finance committee meeting.

“Our performance for the year to June shows some really good highlights and reflects the strong focus we have on delivering value for money to our ratepayers,” chairwoman Jane Hennebry said after the meeting.

The results reported included:
• An unallocated surplus of $1.6 million compared to a forecast of $1.2 million
• A healthy $4 million increase in the value of total investments to $84.3 million
• 92 per cent of performance measures being achieved.

“Both surpluses achieved through cost savings and increases in the value of investments help reduce upward pressure on rates,” said Cr Hennebry.

The committee heard that the $2.4 million remediation of the council’s Hamilton headquarters had been successfully completed at $142,000 under budget.

The meeting also saw the first written report from the new audit and risk sub-committee which has been established, with an independent chair, to further bolster oversight of the council’s financial performance.

“It’s excellent to see the various fruits of the tight financial and project management we have in place,” said Cr Hennebry.

“We will continue to keep costs under very close scrutiny to ensure they are contained and spending delivers efficient services and facilities for the region.”

Meanwhile, the committee approved a total of $20,800 to environmental initiative fund applications.

They included:
• $11,000 to help with upgrades to the Otorohanga Kiwi House
• $5,000 to the Te Hoeroa Tahau Whanau Trust for restoration work at a wetland at Waitahanui near Taupo
• $4,800 to the Grandview Community Garden Trust for a gully restoration and Maori traditional plants project in Nawton, Hamilton.

ENDS

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Quake Insurance: Reforms To EQC Act Announced

· Increasing the monetary cap from $100,000 (plus GST) to $150,000 (plus GST) for EQC building cover.
· Clarifying EQC land cover is for natural disaster damage that directly affects the insured residence or access to it... More>>

ALSO:

Reserve Bank: Official Cash Rate Unchanged At 1.75 Percent

Global economic growth has increased and become more broad-based. However, major challenges remain with on-going surplus capacity and extensive political uncertainty... More>>

Kaikōura Earthquake: Private Insurers Receive $1.8b Claims

Insurance Council Chief Executive Tim Grafton said most is for commercial loss at $1.36 billion, with residential claims amounting to over $460 million. “...We have a high level of confidence that most people will have received settlement offers by the end of this year." More>>

ALSO:

Forms And Data: New Proposals To Simplify Personal Income Tax

The Government is proposing to make tax simpler for individuals, with people whose only income is from a salary, wages or investments no longer being required to file tax returns to receive tax refunds or to calculate any additional tax. More>>

OECD: NZ Economic Expansion Faces Long Term Challenges

The OECD Economic Survey of New Zealand discusses the gap between the strong short-term outlook and long-term challenges posed by low productivity growth and a changing labour market. More>>

ALSO:

GDP: