Annual report for the 2011-12 financial year available now

12 October 2012

Annual report for the 2011/12 financial year available now

Copies of Waipa District Council's Annual Report for the 2011/12 financial year are available now.

Waipa District Council ended the year with a general funds cash surplus of $104,000, close to its goal of reaching a break even position.

This surplus forms part of a $7.7 million operating surplus which includes a number of non-cash items such as pipes and roads gifted as part of development work, first time recognition of assets, gains on revaluation of forestry and cash received for asset-related spending.

Chief financial officer Ken Morris said contributing factors to the $104,000 surplus was a higher than expected rating base and higher than budgeted levels of interest revenue.

We are pleased to have only a relatively minimal cash surplus as our main aim is to only rate our ratepayers for the amount we need to run our business, he said.

Waipa District Council had also performed well in its non-financial reporting with high levels of satisfaction across a number of significant areas being reported in the year's NRB survey of residents.

Copies of the Annual Report and the summary document are available at the council offices and libraries and at www.waipadc.govt.nz.