Rotorua Lakes Council and three council controlled organisations have higher incomes than expected according to reports presented in a meeting Thursday. Photo / File
Rotorua Lakes Council and three council controlled organisations have higher incomes than expected according to reports presented in a meeting Thursday. Photo / File
Rotorua Lakes Council's finances are on solid ground, partly due to income from ratepayers.
The council - and its three council-controlled organisations - have reported higher than expected incomes for the first quarter of 2021.
The information comes as the Operations and Monitoring Committee met yesterday.
The council financial performanceupdate related to the 10 months ending April 30, 2021.
Rotorua Lakes Council deputy chief executive organisational enablement Thomas Colle. Photo / File
A report prepared for the meeting by council finance business partner Michelle Overbeek said the council's overall operating performance was tracking better than its budget by $183,000.
Council deputy chief executive organisational enablement - formerly the chief financial officer - Thomas Colle said the council was well over $1 million ahead of its budgeted target.
Colle's presentation said the council's income was driven by the timing of rates, penalties and water usage.
Consenting fees, Government subsidies, and legacy NZTA funding were also a factor.
Colle said it was "pleasing" the council was "continuing to track well ahead".
When councillor Reynold Macpherson asked what debt reduction tactics were being considered, Colle said the council's strategy was to leverage debt to invest in the community.
"There is no strategy to reduce [the] council's debt at the moment," Colle said.
Rotorua Airport chief executive Mark Gibb. Photo / File
Rotorua Airport chief executive Mark Gibb reported a year-to-date revenue of just over $3.5m against a budget of $3.1m as of March 31.
The airport is one of the three council-controlled organisations, along with InfraCore and Rotorua Economic Development, also known as Destination Rotorua.
Lowered expenses and higher than expected passenger numbers helped the airport reach surplus, Gibb said.
Councillor Mercia Yates asked if flight availability would increase.
Gibb said the airport had "positive dialogue" with Air New Zealand and was looking to reinstate the Christchurch and Auckland red-eyes.
Gibb didn't rule out discussions with other airlines.
