Waitomo District Council adopts Annual Plan 2017/18
4 May 2017, 9:52 AM
Council adopted its Annual Plan 2017/18 on Tuesday 2 May 2017.
Council prepares a Long Term Plan every three years which details the programmes and financial forecasts over the next 10 years. This plan covers year three of the Long Term Plan 2015-2025 (LTP) for the 12 months from 1 July 2017 to 30 June 2018, and details the annual budget and also notes any variations or differences from the forecasts contained for that financial year, in the LTP.
Our focus areas are Community Connectivity and Development, Economic Development and Good Asset Stewardship. Our intention for the coming financial year is to make progress in these areas in a financially prudent and sustainable manner.
Highlights of the Annual Plan 2017/18:
- $10 million of capital expenditure across various projects including the Te Kuiti Water Treatment Plant upgrade, improvements to our quarries, performance enhancement of the Te Kuiti Waste Water Treatment Plant, and the development of an improved entranceway to Brook Park, to name a few.
- Reduction of the rates requirement for 2017/18; 2.7% increase (from 3.88% forecast in the LTP).
- A decrease of $2.5 million less external public debt
- A $2.38 million increase in our reserves balance
- Commencement of the District Plan Review project
- Continuing with development of Timber Trail Marketing
- Bathroom upgrade for the Les Munro Centre
- Support Digital advancement of the District
- Support implementation of the Waitomo Village Structure Plan
The total rate revenue required for the 2017/18 financial year is $19,571,000 (excluding GST) which is less than the forecast of $20,015,000 contained in the LTP for the corresponding financial year. The decrease is a result of prioritising needs and re-sequencing works where appropriate. More favourable interest rates and lower than forecast public debt have also been contributors to the reduction in rates requirement.
Click here (PDF 1.32 MB) to view a summary of where rates are spent on a weekly basis using indicative residential and rural properties.
The Cost of Service Statement illustrates that Council’s planned Net Operating Expenditure for the 2017/18 year is 2.9% more than forecast in the LTP.
| EAP 2016/17 |
Cost of Service Statement Council |
LTP 2017/18 $000's |
EAP 2017/18 $000's |
Variance to LTP $000's |
| 11,451 | Total Operating Income | 10,977 | 11,227 | 250 |
| 27,592 | Total Operating Expenditure | 28,563 | 29,380 | 817 |
| 16,141 | Net Operating Cost/(Surplus) | 17,586 | 18,153 | 567 |
| 12,341 | Total Operating Expenditure | 8,197 | 10,150 | 1,953 |
| 28,482 | Total Net Expenditure | 25,783 | 28,303 | 2,520 |
| Funded By | ||||
| 5,206 | Reserves | 4,745 | 5,562 | 817 |
| 4,220 | Internal Loans Drawn | 1,023 | 3,170 | 2,147 |
| 19,056 | General Rates, UAGC and Service Charges | 20,015 | 19,571 | (444) |
| 28,482 | Total Funding | 25,783 | 28,303 | 2,520 |
| 5,780 | Depreciation and Amortisation Expense | 5,874 | 6,005 | 131 |
The external public debt forecast at the end of the 2017/18 year is $2.5 million less than the forecast for the corresponding year contained in the LTP. We are on target to achieve the forecast debt reduction of $21 million over the life of the LTP.
The Annual Plan forecast for the Reserves balances is a $2.38 million increase over the LTP forecast for 2017/18.
The following graph illustrates the Reserves balances as forecast in the LTP for 2017/18 and the forecast in the Annual Plan once again demonstrating a positive trend of reserve balances being higher than forecast.
We look forward to the year ahead and representing our residents and ratepayers to create a better future for our District, with vibrant communities with thriving business.
The Annual Plan 2017/18 document will be made publicly available later this month on our website and from our WDC Office, Queen Street, and Waitomo District Library, 28 Taupiri Street Te Kuiti.