Strong year for Western Bay

Western Bay of Plenty District mayor Garry Webber. Photo: Supplied.

A strong balance sheet, reduced debt and positive signs for continuing District-wide growth, are features of the Western Bay of Plenty District Council's annual report, which is approved by the council.

'We are in a good position financially fuelled by continued growth which has resulted in an increase in growth-related income through financial contributions,” says Mayor Garry Webber.

'What is most pleasing is our continued reduction in debt – something our communities have told us they want us to do. We have cut net debt by $10.6 million – reflecting prudent spending, increased income and a careful capital works programme.''

Net debt as at June 30, 2017 is $100,221,000, being gross debt of $150,000,000 less cash of $14,779,000 and short term investments of $35,000,000.

The council revenue for the year was $102.5 million, its capital and operating expenditure was $80.4 million and it achieved a debt reduction of $10.6 million.

Council is required to prepare and adopt an annual report and financial summary within four months of the end of the last financial year.

The report compares council's actual performance for the year against what it forecast in its Long Term Plan and Annual Plan.

The past year has been one of sustained growth for the District and Council's financial situation is pretty close to what was predicted this time last year, says Garry.

In the past year Council's income has grown by $1.97m or three per cent, based on increased subdivision consents and strong building activity, the momentum is expected to continue this year.

The district council also continues to benefit financially from its shareholding in the New Zealand Government Funding Agency which enables cost effective ways of financing to local authorities.

'We estimate that our Council has saved up to $500,000 annually in interest costs directly as a result of being part of the LGFA,'' says Garry.

Another significant achievement this past year has been Council's leadership in engaging with local iwi and hapu to seek their mandate to participate in the Partnership Forum.

Māori expressed the desire for a strong relationship with Council at both governance and operational levels.

'As a result, the Partnership Forum has been reconvened which enables iwi and hapu to share issues of importance and address these together with Council.” Says Garry.

The district council will continue with its major projects highlighted in the Annual Plan over the coming year; the Omokoroa Road upgrade, the new Katikati Library and Community Hub, the Ongare Point community wastewater scheme and a continuation of community development contracts with Waihi Beach Events and Promotions, Katch Katikati, Te Puke EDG and Epic Te Puke.

The full annual report is here.

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1 comment

Te Puke

Posted on 25-09-2017 15:20 | By Brykir

could do with being returned to two lanes as requested by a majority of residents. Or are two surveys and many meetings not enough to convince you that you made a mistake?!


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