Local Govt | National News Video | Parliament Headlines | Politics Headlines | Search


Summary of 4 December Finance Committee meeting

A quarter of the way through the financial year Hamilton City Council is in a solid financial position against a range of fiscal measures.

In a series of reports to yesterday’s monthly meeting of the Council’s Finance Committee, the organisation’s financial situation was presented as sound and within budget – although senior staff have signalled anticipated costs emerging for the Council in the second half of the year, resulting in budgets in line with expectations.

The Annual Monitoring Report to October 2018 showed a positive variance against the Council’s accounting result ($11.2M) and balancing the books measure ($7.9M) – delivering a budget surplus for the organisation.

Although the organisation is generating more revenue from fees and charges, staff told the committee they expected an expenditure “catch-up” in the second half of the year as contracts and consultant costs eventuate.

In the Capital Monitoring Report, General Manager Development Chris Allen confirmed very positive traction in delivering the Council’s significant capital programme. Although some projects are likely to be deferred to align with contractors’ availability, the programme remained largely on track with budgeted funding shared across all of the Council’s groups and assets. The Council’s capital programme over the next three years is its largest ever, totalling $772M.

As part of that report, the committee approved a $4.7M renewals project to replace floodlights at Seddon Park (see separate media release), and also recommended to the Council it commit $1.75M to a project which will see a section of the city’s river path network in the central business district repaired. The river path project, just north of the Claudelands Bridge, is part of the Te Awa Cycleway and the repair will see the construction of a timber retaining wall and soil nails into the slope so the path can be reopened. The Council will seek an NZTA subsidy to help fund the work. Planning for the project will be carried out this financial year and it is expected to be complete by June 2020 – or potentially sooner if contractor availability allows.

The Council also approved a revised Investment and Liability Management Policy. The policy controls and provides guidelines on the Council’s borrowings and investments, and outlines the controls that should be in place to prudently manage risks. The policy is required by the Local Government Act and must be reviewed every three years, and was a required outcome under the 2018-2028 10-Year Plan.

Staff will continue investigating options to mitigate a funding shortfall on growth infrastructure arising from the submission of large subdivision consents shortly before the Council adopted its 2018/19 Development Contributions Policy. This work seeks the recovery of costs of large infrastructure projects which will benefit these future developments, which would not otherwise be recovered because that infrastructure was not included in the prior policy. The Council will work on finding a solution early and are confident there are good options available to address the funding gap. Staff will present back to councillors in February 2019.

The committee also received a progress report on the 10-Year Plan 2018-28 non-financial performance indicators. The discussion focussed on the merits of perception-based measures in the report, particularly those from the Quality of Life Survey. The bi-annual survey gleans information from the city’s residents on their perception of life in Hamilton and how the council is performing. A summary of the survey results can be accessed here.

© Scoop Media

Parliament Headlines | Politics Headlines | Regional Headlines

Gordon Campbell: On What We Could Do For Hong Kong, If Only We Dared

There has been something repulsive about PM Jacinda Ardern’s assurances that our joint 5 Eyes criticism of China’s actions over Hong Kong – and China’s harsh reaction – are all well understood on both sides. According to Ardern, it has been a case of us saying the sort of things we’ve said before, them acknowledging our need to do so, and then them responding much as we would expect them to do. All neat and tidy. Frankly, if all of this is merely virtue signalling on our part, and huffy declarations of independence on their part, then what’s the point of this diplomatic dance..? More>>


Grant Robertson: Government To Review Housing Settings

New Zealand’s stronger-than-expected economic performance has flowed through to housing demand, so the Government will review housing settings to improve access to the market, the Finance Minister Grant Robertson announced today. “Our focus More>>


Law Commission: Recommends New DNA Laws For Criminal Investigations

Te Aka Matua o te Ture | Law Commission today released a report that recommends a new, comprehensive regime to control how DNA is obtained, used and retained for criminal investigations. The report has revealed significant gaps in the operation ... More>>


National: Leader’s Speech At Annual General Meeting

Good morning delegates. It’s an absolute privilege to be speaking as your leader. I’d like to acknowledge the party president, regional chairs, board members, National Party staff, our MPs, our candidates, and most importantly, you – the delegates, ... More>>


Economy: Crown Accounts Reflect Govt’s Careful Economic Management

The better-than-expected Crown accounts released today show the Government’s careful management of the COVID-19 health crisis was the right approach to support the economy. As expected, the Crown accounts for the year to June 2020 show the operating balance ... More>>


Green Party: Announce Portfolio Reshuffle With Talented And Energised Caucus Team

“The Green Party caucus offers a breadth of talent and energy to the Parliament this term. In ten MPs you have a small business owner, a human rights lawyer, an academic, a climate negotiator, a transport planner, and so much more”, Green Party ... More>>


APEC: New Zealand Ready To Host Virtually

Prime Minister Jacinda Ardern took over the leadership of APEC earlier today, when she joined leaders from the 21 APEC economies virtually for the forum’s final 2020 meeting. “We look forward to hosting a fully virtual APEC 2021 next year. While ... More>>





InfoPages News Channels