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From the Mayor
City finances in great shape
 |
For the first time
in a very long time the City Council will go into
operating surplus in the next financial year. This means
there is money to pay for new assets without borrowing. The City's finances are in great shape. When we looked at doing major capital projects in the City we set ourselves very tough financial ratios, which cannot be breached. These were not imposed from outside. We put them there ourselves to make sure we kept tight control of your money. |
Christchurch City's debt is one of the lowest of any City in New Zealand. The maximum we reach is like having $16,000 owing on your $100,000 home, or $18,000 owing on $200,000 worth of your total assets.
It's great to reflect that in the last four years the value of the Christchurch community's assets in all our Council-owned companies has grown by about $500 million.
This City is in great heart financially, with strong financial control and the capacity to deal with some of the really big issues that confront any community.
Vicki Buck, Mayor