Lower debt, higher surplus for council
The Tasman District Council has ended the 2018-19 financial year with $39.8 million less debt than budgeted and an accounting surplus of $33.2m.
That accounting surplus is $20.5m higher than the budgeted total of $12.7m.
The figures are contained in the 2019 Annual Report, which was adopted on Thursday by councillors at their final full council meeting of the 2016-19 term.
The council ended the year with net debt of $149.4m, well below the $189.2m that was budgeted in its Long Term Plan. Its final net debt total is also lower than $155m that was tipped in June.
A staff report says the financial position reflects ongoing operational savings, delayed capital expenditure for some large projects, and lower debt.
Some external factors worked in the council’s favour, including lower borrowing costs, low inflation, increased dividends from Port Nelson and Nelson Airport, increased revenue from forestry, higher grant receipts, and higher-than-anticipated growth.
(The Nelson Mail, Saturday 12 October 2019)
Introducing James Sandston
James is a Registered Valuer who will be joining us from Whanganui, where he has been since graduating from Lincoln University. Originally from Nelson, James is a keen rower and has been coaching the senior Wanganui Collegiate rowing team. James will be joining us from 11 November and assisting both the Residential and Commercial Teams.
Thought for the Week
Be like a postage stamp, stick to a thing till you get there.