Operating deficit saving a highlight of early-adopted Annual Report
An operating deficit $600,000 below what was budgeted for is among the key takeaways from the newly-adopted South Waikato District Council 2024-2025 Annual Report, which was signed off prior to 1 October for the first time in 25 years.
The report was given the tick of approval from independent auditors Deloitte with an unqualified opinion last week.
South Waikato District Mayor Gary Petley said the result is evidence of Council sticking to its promise of balancing the books.
“We promised to eliminate the operating deficit and balance the books. What is really pleasing is that we are doing so faster than we had forecast,” Petley said.
“Through a lot of people working hard, we have saved $600,000 more than our target.
“This reflects our commitment to changing the way we do business and to fulfilling our promise to get back to a more sustainable monetary position.”
The report shows Council has continued to deliver services and projects while achieving the positive result.
Council brought in more revenue than planned, thanks to higher numbers of building consents and LIM applications, trade waste income and additional Indoor Pools admission fees. These helped to offset increased costs in road repairs and dealing with illegal dumping.
“As is the case across much of New Zealand, the pressure is on to do more with less, and to do it better and more efficiently,” Petley added.
“With that in mind, we have stuck to our word of not overspending, keeping it tight and focusing on the services the community expects.”
Council’s Chief Financial Officer, Wiki Cortesi, meanwhile celebrated the report being signed off prior to 1 October for the first time since the year 2000.
“Every year Council produces an Annual Report to share with the community the progress we’ve made and how we are performing against the targets set in our Long Term Plan and Annual Plan,” she said.
The 2024–25 Annual Report and Summary were signed off with an unqualified opinion on 30 September – only the second time this century we’ve achieved sign-off this early. It’s a huge effort from staff across the organisation, our Councillors and our auditors, and something we should all be very proud of.”
A number of pieces of significant capital works were also completed or started during this period, the most visible of which was the completion of work at the Blue Spring / Te Waihou Walkway.
That project saw three years of work ticked off in the space of one. The remedial work and upgrades undertaken at the hugely popular attraction will ensure that – barring an unforeseen natural event – the site won’t have to be closed again in the immediate future.
Council also began work on a wide-ranging, and long overdue, refurbishment of the South Waikato Indoor Pools, which was needed to ensure the District didn’t lose what is a crucial community hub.
In the waters space the installation of new telemetry and scada systems ensures Council can measure and monitor water systems more efficiently and effectively.
Within the 2024–25 Annual Report you’ll find:
- A message from the Mayor
- Statement of compliance
- Reporting on Council’s strategic direction, vision and goals (as outlined in the Long Term Plan 2024-2034)
- Performance measures
- Financial statements and notes
- The Auditor’s Report
