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Horowhenua District Council on track in the First Quarter

Horowhenua District Council on track in the First Quarter

Council has spent 3% less than budgeted in the first financial quarter of this year.

The three-month report was presented and received by the Finance, Audit and Risk Subcommittee on Wednesday 1 November.

Council’s Chief Executive David Clapperton says Council is operating with a $2.22 million surplus - 3% less than budgeted.

“Overall, it is a very good place to start the financial year,” he says. “I want to publically thank my team for their efforts in keeping within budget and keeping on schedule.”

Council’s Chief Financial Officer Doug Law says the main variances included employee costs, which were $337,000 lower than budgeted, due to several vacant positions. Finance costs were also below budget by $123,000 reflecting lower interest rates on loans.

Mr Law says the delay in the estimated transfer date of the Community Housing portfolio means that Council is receiving rents that were not anticipated.

However, this is countered by depreciation being higher than budgeted by $603,000, as a result of the revaluations of assets last year.

“Depreciation is the loss of value of an asset over time. Last year, assets were revalued higher than was budgeted and this is expected to continue in this financial year.”

The report also showed Council had received 4% less in revenue than budgeted.

“Rates rebates continue to be strong this year with 1,253 applications processed by the end of September, generating $17,266 more in rebates than the same time last year.”

There were also fewer grants and subsidies than budgeted; these are still expected to come through though.

Economic Development – first quarter

In the first quarter of the 2017/18 financial year, 56 resource consents were approved compared to 50 for the same period last year.

Resource Consents for 17 subdivisions were approved – the same number as occurred during the same period last year.

In all, just over $23 million worth of Building Consents were issued for 171 projects during the period – a similar amount to the same period last year. The figure includes 59 new dwelling consents issued which was slightly up on 57 recorded for the same period last year. In all 171 new building consents were approved.

Council Economic Development Manager Shanon Grainger says the month of July was a record month for Council.

“Since then, consent numbers have reduced, as they have around New Zealand. However, we anticipate it will pick up again towards calendar year’s end,” he says.

© Scoop Media

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