26 September 2013

Solid performance by Waikato District Council in 2012/13

Waikato District Council today adopted its Annual Report which shows solid performance and sound financial results for the past year.

It is the first integrated Annual Report for the new district which combines the former Waikato district and part of the former Franklin district.

Chief Executive Gavin Ion said the 2012/13 year had been one of challenges and change, and overall Council had delivered well on the projects and initiatives it progressed and in its financial management.

“We’ve steered a steady course by maintaining what we have, preparing for future growth opportunities and ensuring financial prudence. There has been a focus on efficiency, cost effectiveness and working smarter.”

Financially the Council has reported an operating surplus of $24.5 million, which is an improvement of $11 million over budget. The substantial variance relates to assets Council has inherited, as well as savings made as a result of staff reviews and delays in recruitment , and reduced project spending and interest savings from delayed projects. The surplus will be used to advance a number of projects which ratepayers have identified as priorities, including a review of the District Plan and purchase of civil defence equipment.

Non-financial performance over the past year has had a strong focus on planning and design of infrastructure, relationship building and developing the district’s economic presence to take advantage of rapidly emerging growth opportunities, particularly in Pokeno, Horotiu and Tamahere.

The draft Annual Report was shared with Council’s Audit and Strategy and Finance committees. It was signed off by the Office of the Auditor General today.

The Annual Report will be available online as well as a hard copy being available in all Council offices before the end of October.

ENDS

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