Wellington City Council’s vision for Pōneke is a creative capital where people and nature thrive. To achieve our vision we need to balance our priorities. This means managing our finances so we can invest for both current and future Wellingtonians. The Council faces major financial risks due to under-insurance and a lack of diversified investment.
The 2024-34 Long-term Plan (LTP) proposed to manage these risks through the establishment of a new, large investment fund, created through the sale of our minority shareholding in Wellington International Airport Ltd.
On 10 October 2024, Councillors approved a Notice of Motion to begin a process to remove the sale of the airport shares from the plan. This significant change meant an amendment was required to the LTP.
The amendment focused on options to address the financial risks of under-insurance and undiversified investments. It did not seek to review or change the entire 2024-34 LTP.
The overall plan
Our 2024-34 LTP sets the direction for the next 10 years, outlines what we will be investing in, how much it may cost and how this will be funded.
The plan is focused on fixing the city’s aging infrastructure, minimising sewage sludge and waste, ensuring our buildings are resilient, preparing for population growth with housing and transport, and acting on climate change.
Over the next 10 years, we plan to spend $3.5 billion in capital costs to make improvements in the city, and $8.95 billion in operating costs to provide the hundreds of services Wellingtonians use everyday.
The plan is published in three volumes.
Volume 1
Volume one is a summary of the plan. It includes:
- strategic priorities and overview of work programme
- budget summary
- financial strategy summary
- strategy summary.
Volume 1 amendments
This volume was updated as part of the LTP Amendment to include the changes made through the amendment process and in relation to the Government’s Local Water Done Well Reform.
Volume 1 files
Long-term Plan 2024-34 – Volume 1 Amended (2.03MB PDF) | Word version (5.87MB DOCX)
Long-term Plan 2024-34 – Volume 1 (5.2MB PDF) | Text version (15MB RTF)
Volume 2
Volume two includes:
- statements of service provision
- significant forecasting assumptions
- all financial policies and strategies that support this plan.
Volume 2 amendments
The amendment includes the following sections:
- Statements of service provision
- Funding Impact Statements
- Significant Forecasting Assumptions, including:
- Three Waters Legislative Reform Assumptions
- Other Forecasting Assumptions
- Forecast Financial Statements
- Balanced Budget Statement.
The following sections were not changed and remain as adopted in 2024:
- Significance and Engagement Policy – Summary
- Financial information for 2024/25, including 2024/25 Funding Impact Statements and Indicative rating examples.
- Summary of significant accounting policies
- Rating Policy
- Revenue and Financing Policy
- Individual activity analysis by key achievement area
- Rates remissions and postponements policies.
Volume 2 files
Long-term Plan 2024-34 – Volume 2 Amended (2.72MB PDF) | Word version (4.65MB DOCX)
Long-term Plan 2024-34 – Volume 2 (27MB PDF) | Text version (120MB RTF)
Volume 3
Volume three includes:
- full strategic framework (not amended, as published in 2024)
- full infrastructure strategy (in amended Volume 3)
- financial strategy (in amended Volume 3)
Volume 3 files
Long-term Plan 2024-34 – Volume 3 Amended (2.53MB PDF) | Word version (4.36MB DOCX)
Long-term Plan 2024-34 – Volume 3 (5.93MB PDF) | Text version (37MB RTF)
Investment and Liability Management Policies
These policies explain how the council handles its approach to its investments, borrowings and other liabilities and how to manage the exposure to various financial risks.
Investment and Liability Management Policies (145KB PDF) | Text version (73KB DOCX)
If you have any questions about these documents
These documents are complex, so if you have any questions about accessing or interpreting the information, contact us: ltp@wcc.govt.nz.
Consultation
Consultation on the draft Long-term Plan took place between April and May 2024. To see what we consulted on and the feedback we received, go to:
Draft Long-term Plan 2024-34 closed consultation – Letstalk.govt.nz
Contact us
For more information, contact the Corporate Planning and Reporting Team: ltp@wcc.govt.nz.