Here you will find a budget snapshot outlining the sourcing and allocation of council’s financial resources to service areas as well as the 2015/16 budget by broad categories.
This table and chart shows a breakdown of council’s revenue. Rates and annual charges equate to 57% of total funds. Sources of funds include user charges and fees, interest and investment revenue, grants and contributions, sale of assets, loan funds and other revenue. The utilisation of external and internal reserves is not part of these funds.
Loan funds are new borrowings only.
Expenditure by service area
The table and chart shows where council spends money, broken up into service areas. We have included operating expenses, borrowing costs, capital expenditure and loan repayments. Excluded in the calculations are depreciation, transfers to reserves and internal transfers between funds.
This table and chart shows a breakdown of council’s expenditure. This includes operating expenses (excluding depreciation), borrowing costs, loan repayments and capital expenditure. Transfers to external and internal reserves, as well as internal charges, are excluded from this expenditure.
The forecast net operating position is heading in the right direction.
The 2013/14 year resulted in a $12 million surplus, well above the budgeted deficit of $3 million.
Employee expenses for the General Fund were increased by 2.8% and other expenses increased by the forecast CPI for the 2015/16 year.
Depreciation is based on the estimated useful life of assets as known at the time and will be reviewed each year.
Interest on debt for existing loans is assumed at 5.64% over 20 years.
The following graph shows the comparison between budgets and actuals for the 2013/14 year and the 2014/15 year to date as well as the ongoing improvement in the forecast operating result from continuing operations for 2015/16 to 2017/18.