12 November 2008

Annual Report shows Council ahead on financial targets

The Christchurch City Council’s Annual Report 2008 shows the organisation came out ahead of its financial targets in the 2007/08 financial year.

The Council has recorded a cash surplus of $2.9 million for the financial year. This is a result of higher-than-expected gains received from the sale of land – a consequence of the increase in property values over the previous 18 month period.

The Council invested $209.3 million in capital works in the 2008 financial year. This includes:

- Completion of the Whakahoa Village Housing Complex, $2.5 million.
- Housing improvements and redecoration, $2.1 million.
- Kerb and channel replacement, $14.3 million.
- Purchase of a site for the new transport interchange, $18.8 million.
- Progress on the Ocean Outfall Pipeline, $31.1 million.
- Redevelopment of Jellie Park, $10.1 million.

Major capital projects planned for the financial year to June 2009 include: the continuation of the City Mall revitalisation; construction of the Graham Condon Sport and Recreation Centre; upgrading digestors at the Christchurch Wastewater Treatment Plant; and development of integrated water catchment plans.

Christchurch City Council Chief Executive Tony Marryatt says the Annual Report shows the Council has delivered on 85% of the service delivery targets set out in the 2006-16 Long-Term Council Community Plan.

“This year’s Annual Report shows the Council is in a good position, ahead of its financial targets. It outlines a number of key projects that were carried out in the financial year and shows just how diverse our work is.”

He says highlights include the purchase of the Ellerslie International Flower Show, an internationally regarded event that will be held in Christchurch for the first time in March. Visitor numbers at Christchurch Art Gallery have also increased, with the some excellent exhibitions stages over the year.

Other highlights were:

- Implementation of the Greater Christchurch Urban Development Strategy getting underway.
- A major review of several key city bylaws.
- Approval on the first three Bus Priority Routes to promote public transport in the city.
- The opening of the Blenheim Road deviation.
- Initial work on the new, three-wheelie bin kerbside waste collection service that will significant reduce the amount of rubbish we send to landfill.

ENDS

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