Ag 7 november, 2014

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Friday, November 7, 2014

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Mount Hutt College names dux Irene Anderson received a raft of awards at the Mount Hutt College prizegiving last night, and to top it all off, she was named dux

INTERVIEW, PRIZE LIST

P5, 8

Record council surplus BY SUE NEWMAN

SUE.N@THEGUARDIAN.CO.NZ

For the Ashburton District Council the past year was a record breaker. Its end of year balance sheet showed an $18.3 million surplus, almost double that achieved in the previous year. At the same time its asset base hit a new high, with total equity rising to $657 million ($616 mil-

lion last year). Its annual report showed a revenue that was $12.89 million above budget with vested assets, forestry income and property sales bringing in significantly higher income than anticipated. It also had a comprehensive income gain of $21.9 million that was largely a result of the revaluation of its infrastructural assets.

And while that result pleased mayor Angus McKay, the surplus had to be taken in context; it was not money the council would keep in its coffers, he said. “Inevitably people will comment on this surplus but the council has on-going projects and if any of those are delayed, payments are not made so that money becomes part of the surplus.”

Contracts that had not been completed on time also contributed to the surplus but so too did prudent financial management by council staff, Mr McKay said. “We are in a very good position to move ahead and complete our major projects. “Any council would love to be in our position, but I do assure people that our profit is spoken for.”

The past year had been one of significant change both in terms of its mix of councillors following last October’s local body elections and in the direction and focus of the council as a whole, but it had more than achieved its financial goals for the year, he said.

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