Ashburton Guardian, Thursday, October 31, 2013

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ASHBURTON

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www.guardianonline.co.nz

Thursday, Oct 31, 2013

Since Sept 27, 1879

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THE INDEPENDENT VOICE OF MID CANTERBURY

Council $9.7m in the black BY SUE NEWMAN

SUE.N@THEGUARDIAN.CO.NZ

The Ashburton District Council recorded a surplus of $9.7 million last financial year, posting a balance sheet that showed it had net assets of $616 million. The council’s annual report was presented yesterday at its first meeting for the new term, with Ashburton Mayor Angus McKay saying it showed council was on track to achieve the goals set out in its long-term plan. “We are in good shape financially, delivering quality infrastructure and services and we’re performing financially,” he said. The annual report details the council’s performance over the past year and shows whether it has met the targets in its long-term plan. During the year it earned itself $54.7 million in income, with $25.5 million of this coming from rates. Its expenditure for the year totalled $45 million. During the year the council stayed within its limits on external debt (no higher than 10 per cent of the council’s total revenue) and paid $2.275 million in interest. The council’s average debt per rateable property is $2466 ($2446 in 2012). Its public debt as a percentage of total assets is 5.68 per cent (6.15 per cent in 2012). The council had focused strongly during the year on providing quality core services that delivered value for

money for residents, Mr McKay said. The council has two cornerstone projects under way, the EA Networks Centre and the Ashburton Art Gallery and Heritage Centre. It is also planning for a second bridge across the Ashburton River. “These will provide significant new opportunities for our community and the bridge will be important for managing future traffic flows,” he said. The largest area of the council’s budget is transportation, with the district having one of the longest roading networks in New Zealand. During the year it had more than $11 million roading capital expenditure, $3 million over budget. A growing district meant there was ongoing pressure on roads from heavy transport and that meant increased expenditure for surface and structure upgrading on top of general maintenance, Mr McKay said. A reduction in the New Zealand Transport Agency subsidy assistance level simply added to the pressure, he said. “We’re continuing to lobby NZTA for increases in funding that recognise the size of our roading network in relation to our population and the contribution of our district’s export–focused industries to the national economy.”

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