Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 

Auckland Council Group finances go from strength to strength

Media release
29 August 2014


Auckland Council Group finances go from strength to strength

It has been another year of good financial performance for the Auckland Council Group which reported its unaudited preliminary financial results to the NZX today.

During the year the group’s credit ratings were reaffirmed by both Standard & Poor’s and Moody’s and the group has achieved results better than budget. This provides a strong base for planning the next ten years.

• The group is reporting an operating surplus of $150 million compared to a $38 million budgeted deficit
• Total borrowings are below budgeted levels
• Savings targets were achieved and the organisation has increased its expected annual savings targets for future years

The group continues its transformation focused on delivering services with better value for money.

This year the group invested $1.6 billion renewing and expanding assets to its growing Auckland communities. The capital programme delivered local community facilities and parks, and local and regional infrastructure and transport. This work contributed to a boost in the value of the group’s total assets from $37 billion to $40 billion.

“Aucklanders can have confidence that we are continuing to invest in our city whilst delivering the services they value,” says Auckland Council Chief Executive Stephen Town.

A copy of the results reported to NZX is available on the council’s website: www.aucklandcouncil.govt.nz/annualreport

Ends

© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 


Statistics: Annual Inflation Hits A Three-decade High At 5.9 Percent
The consumers price index increased 5.9 percent from the December 2020 quarter to the December 2021 quarter, the biggest movement since a 7.6 percent annual increase in the year to the June 1990 quarter, Stats NZ said today... More>>



Digitl: Bumper year ahead for NZ IT sector

Gartner says New Zealand spending on technology products and services will grow 7.4 percent this year. The company’s latest forecast says the market will total NZ$15.3 billion in 2022... More>>



Fonterra: Lifts Forecast Farmgate Milk Price Range

Fonterra Co-operative Group today lifted its 2021/22 forecast Farmgate Milk Price range to NZD $8.90 - $9.50 per kgMS, up from NZD $8.40 - $9.00 per kgMS. This increases the midpoint of the range, which farmers are paid off... More>>



Skoltech: Study Probes Earth’s Turbulent Past To Explain Where Oceans Came From

The origin of water on our planet is a hot question: Water has immense implications for plate tectonics, climate, the origin of life on Earth, and potential habitability of other Earth-like planets. In a recent study in Physical Review Letters, a Skoltech professor and his Chinese colleagues suggest... More>>


Statistics: Household Net Worth Grows In The September 2021 Quarter But At A Slower Pace Compared To March 2021

Household net worth grew by $60.7 billion in the September 2021 quarter compared with the June 2021 quarter, Stats NZ said today. This represents an increase of 2.5 percent, a similar result to the June 2021 quarter, which was up $60.6 billion or 2.6 percent... More>>

TradeMe: Job Market Ends 2021 On A High With Record Number Of Vacancies
The New Zealand job market finished 2021 on a high note, with the ball still firmly in the job hunters’ court, according to the analysis of 69,600 vacancies listed on Trade Me Jobs for the quarter ending 31 December (Q4)... More>>