Page 12 ~ Page 1 of 12 ~ Page 2May 1999 C H R I S T C H U R C H C I T Y C O U N C I L · Y O U R P E O P L E · Y O U R C I T Y |
Strategy
stops big rate hikes While people in other major centres face rates increases of up to 19 per cent this year, Christchurch ratepayers have been protected from such a blow out by far sighted measures taken in 1994. Following recent Government legislation, all local authorities must account for the depreciation of assets such as roads, water mains and sewage pipes. Many other centres have to front up with this additional expenditure, giving them a big rates hike. Christchurch ratepayers will not suffer a similar increase, thanks to Christchurch City Councils long-term financial strategy, which was developed five years before the legislation made it a requirement. Director of Finance Bob Lineham explains that under the strategy, asset depreciation has been gradually incorporated into Christchurch rates. "Council revenues should fund all annual operating costs, including the cost of assets wearing out or depreciation. Funds raised for depreciation are then available to finance a significant part of the capital works programme," he says. "We saw large costs coming up for projects such as the treatment plant upgrade, and renewal of roads and other city assets, so we altered the way we structure our finance. For five years our system has been consistent with the way commercial organisations establish costs well before the Government decided that all other councils must use the same accounting practice." As a result, Christchurch ratepayers will not experience huge rates increases as is happening in Auckland and Wellington because of the change in legislation. |
Wizards
wave of magic The Wizard casts a magic spell as he "walks on water" at the new Centennial Leisure Centre on Armagh Street. Opening for business on Wednesday, 26 May, the Centennial holds a public preview day on Sunday, 23 May, from 12 noon-4pm. |
|
Your City, your say Have your say... The Christchurch City Council Draft Plan 1999 has been published for public consultation. Containing budgets, objectives and levels of service for the coming year, the plan maps out what the Council will do for Christchurch in the 1999/2000 financial year. There are some important issues to decide, including how to use the substantial capital repayment the Council will receive from its trading enterprises this year and what level to set rates. To have your say in the Councils decision process, read the supplement in the centre of this edition of City Scene and complete the City Scene response form. |
Page 12
~ Page 1 of 12 ~ Page 2