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Report shows accounting surplus for Council
September 26th, 2014
[TDC press release]
The Tasman District Council has reported a $14.5m accounting surplus in its Annual Report presented to the Councillors yesterday.
The positive overall financial result was influenced by a number of extraordinary items. In addition the Council has reduced its debt level by $24m from the projected $173m. While there has been a genuine reduction in debt compared to past forecasts the timing of capital expenditure has positively influenced the result.
"The Council is a large and complex business with $1.2Billion in assets under its management and the Councillors, ably supported by the staff, have worked hard to reduce its work programme in order to reduce the reliance on debt and keep rates increases as low as possible," said Tasman Mayor Richard Kempthorne.
"This result provides the Council with confidence that the processes we have put in place are working. This confidence is essential as we head towards the Long Term Plan early next year and the consideration of the largest infrastructure project this region has ever undertaken in the Waimea Community Dam.
"The Council has received an unqualified audit report. This is a positive sign in light of the increased scrutiny all of local government is under and reinforces the success of the changes we have and will continue to make," said Mr Kempthorne.
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