Annual Report for 2018-2019 Adopted

Published: 09-Oct-2019

Yesterday Waimakariri District Council adopted the Annual Report for the 2018-2019 financial year which reflected on the significant amount of work achieved in the last year.

The 2018/19 year has very much focused on the building of infrastructure with accompanying work to further develop the value-add services the Council supplies on behalf of the community.

Some of the highlights of the year included:

  • Adopting strategies to manage our growth – including the rural residential growth strategy, Kaiapoi Town Centre Plan and starting work on the Rangiora Town Centre Plan
  • Open road links – such as the Westbelt extension, Feldwick Drive realignment and reconstruction of Courtney Drive and Jones St
  • Significant investment in drinking water – commissioning the Oxford Rural No.1 water supply, a new ultra-violet treatment plan in Waikuku and joining the Pegasus and Woodend schemes
  • Wastewater improvements – progressing the upgrade to the Rangiora primary sewer main, increasing capacity for cluster housing in Tuahiwi and upgrading the Oxford treatment plant
  • Rolling out the new ‘three bin’ service as part of our Waste Management and Minimisation Plan
  • Upgrading a number of parks – such as  Ohoka Domain used by the Ohoka Farmers market, Gladstone Park and are working to upgrade facilities in Kairaki and other places
  • Construction has started on Multi-use Sports Facility
  • Regeneration work in Kaiapoi is well underway with sports fields and the BMX track completed, planting of the Honda Forest underway and work to improve use of the Kaiapoi River near completion.

All projects are in line with the projected growth in the District and recovering from the Canterbury earthquakes.

Generally speaking the Council budgets to break even each year - the meaning rates revenue is what is required to run district-wide Council services.

Year-end accounts showed a net surplus for the year, before taxation and other gains, of $29.5m. This was primarily due to $37.7m of assets such as roads, footpaths and parks which are built as part of new subdivions being vested to the Council, being offset with a $7.8m write down on revaluation of interest rate swaps.

Borrowing for the year was lower than projected by $27.9m under budget due to come capital works being delayed.

Overall there were no major variances in the Council’s financial performance from what was signalled during the Long Term Plan which enables the assessment the Council is prudently managing its revenue, expenses, assets, liabilities and general finances.