Annual Report Shows Strong Result

Annual Report Shows Strong Result

Monday, October 12, 2015

Prudent financial management has seen the South Taranaki District Council finish the 2014/15 financial year with a $1.19 million operational surplus according to figures released in its Annual Report, which was adopted at today’s (12 October) Special Council meeting.

Council Chief Executive Craig Stevenson says he was very pleased with the organisations strong financial performance which will help cover unbudgeted expenditure which arose from unexpected flood events in June and August.

The Council’s Long Term Investment Fund (LTIF) continued to perform strongly and at year end the Fund totalled $130.8 million, an increase of $10 million from June 2014.

Mr Stevenson says this is the fourth year in a row the fund has exceeded budget expectations.

“Each year the Council’s draws down $5.6 million from the LTIF which provides $3.87 million to subsidise general rates and a further $1.73 million to service interest and loan repayments for specific community projects. In this way the LITF has returned around $84 million back to the South Taranaki Community since it was started in 1997,” says Mr Stevenson.

“All revenue over and above the annual drawdown of $5.6 million is returned to the Fund to build it up for those years when it doesn’t perform so well,” he says.

Council’s sound financial position also saw Standard and Poor’s upgrade the Council’s credit rating from A+ Stable to A+ Positive Outlook in May.

Mr Stevenson says other highlights during the year included; development of the Council’s 2015-25 Long Term Plan and 30 year Infrastructure Strategy for managing the Council’s roads, water supply, wastewater and stormwater; development of the Hawera Town Centre Strategy; completion of the $10 million Waimate West Water Treatment Plant – which was the last major water project to finish in the district and the long awaited $11 million Normanby Overbridge Realignment project on State Highway 3 was started.

ENDS

Other notable achievements during the year included:

The Connector bus service, offering four weekday return trips between Hawera and New Plymouth, saw a total of 24,164 passengers, an average of 96.7 per day.

Connect15 - a South Taranaki Mayor’s Taskforce for Jobs event was held at TSB Hub on 22 and 23 May 2015, to demonstrate the jobs and careers on offer in south and central Taranaki. In total, there were 31 exhibitors made up from local employers and training organisations. Over the two days, 1,529 people attended with 1,011 being pupils from nine schools across Stratford and South Taranaki districts.

TSB Hub had another strong year with 166,546 visitors using the facility. The majority of these figures were made up by sports events but also included a number of conferences, seminars and meetings.

The Hawera Aquatic Centre had 92,265 visitors, the third busiest year since the upgrade completed in July 2009, and South Taranaki rural pools saw 46,745 visitors which made for their second busiest season in the past decade.

Council’s proactive approach to dog control continued to pay dividends with further significant decreases in serious dog incidents over the previous two years.