Rotorua Lakes Council's financial performance after seven months of the financial year indicates the council remains on target to deliver on the budget councillors set for year one of its 10 year plan.
In his report to the council's Operations and Monitoring committee today, chief financial officer Thomas Collé said the council's operating result at the end of January was $1.4 million better than budget. The year-end forecast is expected to be $700, 000 better than budget
"It is very pleasing (that) both operational revenue and operational expenditure are tracking well to budget," he told councillors.
Capital expenditure is less that budget at present and forecast to end the year $5.7million under budget.
This is a result of five projects which were expected to be completed this year but have now been stopped or deferred.