Council posts operating surplas
Greater Wellington Regional Council advised today that it had posted an actual operating surplus for the 2006/07 financial year of $123,000.
"While our income statement shows a deficit of $4.5 million, this figure includes unrealised gains and also the effect of accounting treatments associated with the recent purchases of Metlink commuter rail trains and carriages. A more realistic figure is a $123,000 surplus," Greater Wellington's former chairman Ian Buchanan said.
"On a consolidated basis, the Council and its subsidiaries achieved a net surplus after tax of $33.6 million. Operationally the Group made a surplus of $9.3 million. This amount included unrealised gains from revaluation of $18.1 million, and a surplus arising from the accounting treatment of the purchase of Wairarapa rail carriages.
"Greater Wellington is making a significant and
long-overdue investment in the region's public transport
network. While much of this is funded by way of central
government grants and interest-free loans, this still has an
impact on regional rates," he said.
Another major
investment with rates' impacts is flood protection work on
the region's rivers.
"Greater Wellington is responsive to
the needs that our communities have identified through our
Long-Term Council Community Plan. Communities have placed
priority on improvements to public transport and flood
control, and that is what our Council is delivering.
"New
carriages have been delivered and stations upgraded on the
Wairarapa rail line. Sixty new electric trolley buses have
been ordered, and negotiations are nearing completion with
Rotem Mitsui to supply new electric multiple units.
"Flood damage work in the Wairarapa was completed, and major capital work progressed on the Otaki and Hutt rivers, and the Kopuaranga River enhancement scheme was finalised," Ian Buchanan said.
"There were numerous other projects completed over the year, from biosecurity to biodiversity, regional economic development, park amenity upgrades, water supply, emergency management, environmental education and community outreach (a list of community outcomes is detailed at www.gw.govt.nz/yearinreview).
"Sustainability is a major theme behind almost everything that Greater Wellington does. It is Council's role to ensure that future generations are able to benefit from all that our region has to offer and that our region's resources are well managed with this outcome in mind," Ian Buchanan said.
ends