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Quarterly performance shows council finances remain on track

Published: 15 November 2018

Auckland Council is performing well against agreed budgets, according to the latest quarterly update to the Finance and Performance Committee today.

The report to 30 September 2018 shows that Auckland Council Group has generated an increase in operating surplus before gains and losses of $1,495million that was $41 million better than expected.

This was mainly due to higher than expected vested assets revenue ($38 million) and lower than budgeted staff costs ($10 million).

Chair of the committee, Councillor Ross Clow said the report showed another quarter of careful financial management.

“The report shows that we continue to effectively manage our financial responsibilities so that we can provide the investment required to manage the ongoing growth of the city.”

“We are operating in a testing financial environment but I am confident we are doing all we can to deliver on the challenges facing Aucklanders,” he says.

The Committee also received reports for the fourth quarter ending 30 September 2018 from its council-controlled organisations (CCOs) – Regional Facilities Auckland, Auckland Transport, Auckland Tourism Events and Economic Development, Watercare and Panuku Development Auckland.

Auckland Transport presented a quarterly update on the Regional Fuel Tax. Initial focus is on funding projects such as the redevelopment of the Downtown Ferry Terminal, enhanced safety programme, network performance and capacity, and progressing the Eastern Busway. You can view the report here.

Summaries of the CCO fourth-quarter reports are available here.

The agenda is available on Auckland Council’s website and minutes will be added once confirmed. This meeting was also webcast on the council’s website and items are available on demand.