Auckland Council continues to perform strongly and to deliver for a growing Auckland, according to the latest performance and quarterly updates presented to yesterday’s Finance and Performance committee.
Alongside the results of the recently adopted Auckland Council 2017/2018 Annual Report the Auckland Council parent (excluding the CCOs) reported its individual performance for the period 1 July 2017 to 30 June 2018.
The results show a strong performance against the revised budget with the Council parent delivering $463 million of capital investment and performing well operationally with a net operating result that was $32 million better than expected.
This was mainly due to higher than expected dividend income ($15 million), higher than expected commercial property rental income ($6 million), and lower staff costs ($16 million below), offset by reduced revenue in some areas.
Councillor Ross Clow, Chair of the committee, said the report showed another quarter of prudent transparent financial management.
“The Auckland Council Group is in a strong financial position, it has been successful in controlling costs and in making the organisation more efficient while still providing for large infrastructure investment into local communities”, he says.
The Committee also received updates for the fourth quarter ending 30 June 2018, from its CCOs - Watercare, Regional Facilities Auckland, Auckland Transport, Auckland Tourism Events and Economic Development, Panuku Development Auckland and Auckland Council Investments Limited.
Summaries of the CCO fourth quarter reports are available here.