Hurunui councillors today adopted the Annual Report for the financial year 1 July 2023 to 30 June 2024, as well as the Summary Annual Report.

Chief Financial Officer Jason Beck said the annual report is a valuable way for communities to assess Council’s performance over the year against the objectives and budgets set out in the 2023-24 Annual Plan.

The year saw major projects completed in the district, including the merging of three drinking water schemes into the Waikari Basin Water Scheme, the near completion of the district’s biggest drinking water scheme, Hurunui No 1, the Kowai Amberley waterpipe upgrade, and the Cheviot township drinking water upgrade.

Overall, Council’s revenue for the year was $67.4 million, which was $6.1 million above the budgeted level for the year. Key variances were additional roading subsidies received for Emergency Reinstatement work carried out during the year ($1.63 million higher than budget), and the level of vested asset revenue received for the year ($3.38 million higher than budget), generated largely by an increase in development contributions due to increased development in Amberley.

In tandem with increased revenue was increased expenditure at $67.6 million, ringing in at $7.1 million greater than budget.

Beck said the increase in overall expenditure was largely due to additional emergency reinstatement costs in Roading due to flooding and storm events over the year.

The comparison of revenue and expenditure resulted in a total operating deficit of $108,000.

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The financial position at the end of the year settled with total Council assets at $769 million, some $60 million greater than last year. This reflects increased capital expenditure and an increase in the value of three water assets. The balance of debt at the end of June 2024 was $67 million, against the $71.5 million in budget. Beck said the key difference was the timing of payments for significant levels of capital expenditure.

Mayor Marie Black encouraged Hurunui communities to use the Annual Report as a “good sounding board” to see how targets were measured and met for the district.

“It's a document that talks about the integrity of our district and the commitment our staff have made to make this district the great district it is. It gives a good account of what we've done and why we have done it,” Mayor Black said.

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