All About The Money
17 April 2012
For the first time our draft Long Term Plan includes a proposed financial strategy.
Our financial strategy is about setting a sustainable course for the city's future
The strategy is designed to help us to make financially sustainable decisions for the future. The strategy sets out future rates targets (the rates increase we would like to achieve) and rates limits (the level we do not want to exceed in future years). It also includes future limits on capital expenditure, which is funded by debt, and our overall debt limits.
For next year our projected rates increase (taking into account the growth in the number of ratepayers) is 4.1 percent. For residential ratepayers the average increase is 3.7 percent, however actual increases will vary depending on the services ratepayers receive and changes in the value of their property. We are consulting on the option to reduce the amount we spend on asset replacement, which could reduce rates.
In our financial strategy, our rates target and rates limit for next year is 3.8 percent (taking into account growth in the ratepayer base). We're encouraging people to make submissions about any areas where we could reduce spending to keep rates more affordable.
For more information and to have your say, see:
Public Input - Draft Long Term Plan 2012/22