Council Annual Report available to public

MEDIA RELEASE

28 October 2009

Taupo District Council’s Annual Report is now available.  Its balance sheet presents a very healthy picture, reflecting a growing district investing in its infrastructure. 

The Annual Report is a key accountability document reporting Council’s performance over the past year.  It includes Council’s financial statements which report the financial results for the year and the financial position of Council at 30 June 2009.

It also includes reports of Council’s service performance and of Council’s achievement, or otherwise, of targets that it set itself for year three of its Long Term Council Community Plan.

Finance and Corporate Services Group Manager Alan Menhennet said the balance sheet shows ratepayer equity in excess of $1 billion. “This result was achieved principally by revaluation gains on land, building, road and infrastructural assets.”

The report also shows an operating surplus in excess of expectations.  Mr Menhennet says this is primarily the result of NZ Transport Agency subsidy in relation to the East Taupo Arterial and a number of non-cash items such as infrastructure vested by developers being recognised in the income statement.  “The Council is in a strong financial position to cope with the current volatile market,” said Mr Menhennet.

Taupo District Council’s 2008/09 Annual Report is available to the public and Council is encouraging ratepayers and other interested persons in the community to obtain a copy. 

The 8-page Summary Annual Report, which pulls out key points from the full report, is available from all Council offices and libraries, and is much more concise and readable than the full document. Both versions are now available here

Contact:
Jeanette Paenga
Financial Accountant
Taupo District Council
Ph 07 376 0899