The place of the possible

Financial highlights

Investments and net borrowings – 5 year trend

The Council’s net debt has only increased by $21.3 million during the year, $34.0 million less than budget. The difference is mainly due to changes in the timing of capital projects.

STRATEGIC AREA TOTAL COST
$m
COST PER RESIDENT PER YEAR
$
COST PER RESIDENT PER DAY
$
Governance 14.9 74 0.20
Environment 143.2 716 1.96
Economic Development 42.9 215 0.59
Cultural Wellbeing 19.1 95 0.26
Social and Recreation 103.3 517 1.42
Urban Development 37.3 187 0.51
Transport 53.9 269 0.74
Council 19.7 99 0.27
  434.3 2,172 5.95

It costs $5.95 per resident per day to pay for the wide range of services that the Council provides, ranging from the provision of basic services such as roading, water, waste water and storm water, through to the maintenance and running of parks, gardens, swimming pools, libraries and the economic development of the city.

Sources of revenue

The Council’s biggest source of revenue is rates revenue, which accounts for 54% of all revenue. The Council’s funding mechanism is governed by its Revenue and Financing Policy, as disclosed in the 2012 Long-term Plan.

Operational expenditure by strategic area

The Council’s largest operational expenditure is on Environment with 33%, which includes the maintenance of water, waste water and storm water networks, followed by Social and Recreation at 24%.

Total income by source ($m)

The Council’s revenue over time is influenced by the amount of grants it receives for capital expenditure in any one year. This varies dependant on the annual capital expenditure programme to be funded, as shown by the higher 2012 revenue levels resulting from an increase in housing grants received.

Operating expenditure by strategic area ($m)

The Council has shifted its operational expenditure by strategy over time from Governance to Economic Development and Urban Development, in line with its overall strategy as outlined in the 2009 and 2012 Long-term Plans.