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TDC reduces debt, runs operating surplus
September 29th, 2017
[TDC press release]
The Tasman District Council has reduced its debt for the third year in a row and continues to strengthen its balance sheet, its latest Annual Report shows.
The report, adopted today, shows the Council's net external debt at the end of the 2016 - 2017 financial year was $122 million. That has reduced from $129 million at July 2016, and $141 million at July 2015.
The Council also recorded an underlying operating surplus of $12.9 million.
Tasman Mayor Richard Kempthorne said it was a good result that would benefit Tasman residents. "There are some major infrastructure works needed because of the high growth our area is experiencing and will continue to experience. Having a strong balance sheet makes it easier to carry out that work."
Richard said careful control of spending, low interest rates, higher dividends from Port Nelson and Nelson Airport and increased forestry revenue had all contributed. While the Council's capital projects spend of $32.7 million was below budget, a lot had been achieved in the year, including:
- Responding to the effects of the Kaikoura earthquake with extra facilities for St Arnaud and Murchison
- The start of joint landfill operations with Nelson City Council
- Progress on replacing the Kaiteriteri sewer main that runs under the Tapu Bay estuary with a land-based pipe
- Work towards improving freshwater quality
- Progress securing land and funding for the proposed Waimea Community Dam
- Completion of a new community recreation facility for Golden Bay
A small sample of some of the Council's other work in the past year includes:
- Managing and maintained 810 hectares of parks and reserves, 52 playgrounds and 12 open cemeteries
- Supplying water to 11,100 domestic water connections
- Processing 1564 building consents
- Making 156,350 library items available to the community
- Collecting 5232 tonnes of recycling
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