Rotorua Daily Post
  • Rotorua Daily Post home
  • Latest news
  • Business
  • Opinion
  • Lifestyle
  • Property
  • Sport
  • Video
  • Death notices
  • Classifieds

Subscriptions

  • Herald Premium
  • Viva Premium
  • The Listener
  • BusinessDesk

Sections

  • Latest news
  • On The Up
  • Business
  • Opinion
  • Lifestyle
    • All Lifestyle
    • Residential property listings
  • Property
    • All Property
    • Dairy farming
    • Sheep & beef farming
    • Horticulture
    • Animal health
    • Rural business
    • Rural life
    • Rural technology
  • Rural
  • Sport

Locations

  • Tauranga
  • Te Puke
  • Whakatāne
  • Rotorua
  • Tokoroa
  • Taupō & Tūrangi

Media

  • Video
  • Photo galleries
  • Today's Paper - E-Editions
  • Photo sales

Weather

  • Rotorua
  • Tauranga
  • Whakatāne
  • Tokoroa
  • Taupō

NZME Network

  • Advertise with NZME
  • OneRoof
  • Driven Car Guide
  • BusinessDesk
  • Newstalk ZB
  • Sunlive
  • ZM
  • The Hits
  • Coast
  • Radio Hauraki
  • The Alternative Commentary Collective
  • Gold
  • Flava
  • iHeart Radio
  • Hokonui
  • Radio Wanaka
  • iHeartCountry New Zealand
  • Restaurant Hub
  • NZME Events

SubscribeSign In
Advertisement
Advertise with NZME.
Home / Rotorua Daily Post

Council's 'rosy' financial position to be presented

Matthew Martin
By Matthew Martin
Senior reporter, Rotorua Daily Post·Rotorua Daily Post·
3 Feb, 2016 05:00 PM3 mins to read

Subscribe to listen

Access to Herald Premium articles require a Premium subscription. Subscribe now to listen.
Already a subscriber?  Sign in here

Listening to articles is free for open-access content—explore other articles or learn more about text-to-speech.
‌
Save

    Share this article

PHOTO/FILE

PHOTO/FILE

Rotorua Lakes Council staff are painting a rosy picture of the organisation's financial position, which is to be presented to councillors at a meeting this morning.

Councillors will meet from 9.30am to discuss agenda items relating to the council's performance, both financial and operational, during a meeting of the Operations and Monitoring committee.

Staff will present reports outlining the council's quarterly progress towards its "2030 visions", financial performance for the six months ended December 2015, non-financial performance for the six months ended December 2015 and an operational report for November, December and January.

In his agenda report the council's finance manager Paul Sands said overall "council is tracking favourably against budget half way through the year with both revenue and expenditure tracking favourably against budget.

"Council set a funding envelope in the LTP (long-term plan) which would see council borrow $7 million for capital expenditure by year end. With the current positive position forecast to continue to year end it is anticipated council will borrow $2 million less than planned."

Advertisement
Advertise with NZME.
Advertisement
Advertise with NZME.

Mr Sands said the reasons behind the $2 million downgrade to forecast borrowing was due to spending on the Sir Howard Morrison Performing Arts Centre not going ahead due to an external funding application being declined and lower spend for corporate services.

"Overall the capital works program net of capital subsidies is forecast to end the year $2.6 million under budget," he said.

He also said council expenditure was below budget "by $145,000 with operating and staff expenses being over, but being offset by savings in administration, finance and depreciation expenditure.

Advertisement
Advertise with NZME.

"The favourable position is mainly due to lower finance expenses ($249,000) achieved through holding lower borrowings than planned and restructuring debt to achieve significantly lower interest rates".

At today's meeting the council's business performance analyst James Simpson will outline progress towards achieving the council's non-financial performance targets.

The Local Government Act stipulates that local authorities are required to report on how well they are performing in delivering levels of service to their communities as measured by the Key Performance Indicators (KPIs).

"Of the 62 KPIs which have been measured 51 KPIs (82 per cent) are progressing on track and 11 KPIs (18 per cent) need attention to achieve the KPI, or improve the current position, by financial year end. The overall change from the September to December 2015 quarter has been a slight improvement in the number of actions that are on track," he said in his report.

Save

    Share this article

Latest from Rotorua Daily Post

live
Rotorua Daily Post

Up to 50 people evacuated from homes after wild weather, clean-up begins

11 Jul 08:08 PM
Rotorua Daily Post

'Merry hell' in Mamaku: Village held 'to ransom' by hoons

11 Jul 06:00 PM
Rotorua Daily Post

Bay home crowd rallies behind netball's Magic

11 Jul 05:00 PM

From early mornings to easy living

sponsored
Advertisement
Advertise with NZME.

Latest from Rotorua Daily Post

Up to 50 people evacuated from homes after wild weather, clean-up begins
live

Up to 50 people evacuated from homes after wild weather, clean-up begins

11 Jul 08:08 PM

The North Island is expected to get off to a wet start this morning, with lingering rain.

'Merry hell' in Mamaku: Village held 'to ransom' by hoons

'Merry hell' in Mamaku: Village held 'to ransom' by hoons

11 Jul 06:00 PM
Bay home crowd rallies behind netball's Magic

Bay home crowd rallies behind netball's Magic

11 Jul 05:00 PM
Tearful hunter admits shooting and killing friend

Tearful hunter admits shooting and killing friend

11 Jul 05:00 PM
Solar bat monitors uncover secrets of Auckland’s night sky
sponsored

Solar bat monitors uncover secrets of Auckland’s night sky

NZ Herald
  • About NZ Herald
  • Meet the journalists
  • Newsletters
  • Classifieds
  • Help & support
  • Contact us
  • House rules
  • Privacy Policy
  • Terms of use
  • Competition terms & conditions
  • Our use of AI
Subscriber Services
  • Rotorua Daily Post e-edition
  • Manage your print subscription
  • Manage your digital subscription
  • Subscribe to Herald Premium
  • Subscribe to the Rotorua Daily Post
  • Gift a subscription
  • Subscriber FAQs
  • Subscription terms & conditions
  • Promotions and subscriber benefits
NZME Network
  • Rotorua Daily Post
  • The New Zealand Herald
  • The Northland Age
  • The Northern Advocate
  • Waikato Herald
  • Bay of Plenty Times
  • Hawke's Bay Today
  • Whanganui Chronicle
  • Viva
  • NZ Listener
  • Newstalk ZB
  • BusinessDesk
  • OneRoof
  • Driven Car Guide
  • iHeart Radio
  • Restaurant Hub
NZME
  • About NZME
  • NZME careers
  • Advertise with NZME
  • Digital self-service advertising
  • Book your classified ad
  • Photo sales
  • NZME Events
  • © Copyright 2025 NZME Publishing Limited
TOP