|Not a member? Sign up now!|
Council’s Balance Sheet presents a very healthy picture, reflecting a growing District investing in its infrastructure.
Group Manager – Finance and Corporate Services Alan Menhennet says, “our Balance Sheet shows ratepayer equity in excess of $1 billion, this result achieved principally by revaluation gains on land, building and road assets.”
In regard to the finances the report shows an operating surplus in excess of expectations. Mr Menhennet says this is primarily the result of Land Transport NZ 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.
Taupo District Council’s 2007/08 Annual Report is available to the public and Council is encouraging ratepayers and other interested persons in the community to obtain a copy.
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 2008.
It also includes reports of Council’s service performance and of Council’s achievement, or otherwise, of targets that it set itself for year two of its Long Term Council Community Plan.
Mr Menhennet says that ratepayers in reading the report can also gain a very good insight into what Council has been achieving in its various activity areas, and with key projects. He points readers to the activity story boxes printed throughout the report, and the Chief Executive’s report in the early pages of the document, for this.
The Annual Report is available in a 25-page summary form, as well as the full form. The summary report is the document being made widely available as it is much more concise and readable than the full document.
The Summary Annual Report, which pulls out key points from the full report is available from all Council offices and libraries. It will also be accessible on Council’s www.taupo.govt.nz website. The full Annual Report will also be available on the website, or by request in hard-copy form.