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Marlborough District Council’s Annual Report 2016-17

Marlborough District Council’s Annual Report 2016-17

Despite a major earthquake Marlborough District Council has come through the last 12 months in strong financial shape, its double AA credit rating secure.

The Annual Report for 2016-17 shows how Council has met its financial and performance targets and the state of Council assets and liabilities at the end of the financial year; $1.6B in assets with just $104.3M in liabilities. Overall, Council’s net debt stood at $8.6M.

The good quality of the Council’s financial management has been independently endorsed by Audit New Zealand. The Audit Office took the rare step of acknowledging Council’s financial management in the face of the earthquake, noting Council’s clear signal that it may be some time before the full extent of damage to underground services is uncovered.

Despite the earthquake’s direct effect on sewerage, stormwater and water supply, Council still managed to fully achieve 82% of its performance targets. In 90% of work areas, a performance target of at least 80% was met.

Marlborough Mayor John Leggett says the results are exceptional given the severity of the November 2016 earthquake.

“Council is managing a billion dollars’ worth of assets on behalf of our community so it’s very reassuring to see that, even with a disastrous event, residents and ratepayers can be confident that our finances are extremely well managed. The Mayor said he was pleased to see public appreciation of the excellent service provided by the Council which came through in this year’s customer satisfaction survey which recorded its highest ever approval rating.

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“I think that’s another sign this community knows how hard the Council staff worked for them through the earthquake and its after-effects,” said Mr Leggett.

The Marlborough District Council’s Annual Report for 2016-17 was formally adopted today and is now available on the Council website.

Read the full Annual Report 2016-17 at

https://www.marlborough.govt.nz/your-council/long-term-and-annual-plans-policies-and-reports/annual-report/2016-17-annual-report


ENDS

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