Satisfactory Start to Year Achieved

Palmerston North City Council has achieved an operating budget surplus for the first period of the 2016/17 financial year.

The Council has recorded a controllable surplus of $1.7m more than planned in the four months to 31 October 2016.

Chief Executive Officer Paddy Clifford says several factors contributed to the surplus including a reduction in some costs.

He says there has been a delay to some planned spending on operating and professional services. Some grants have also not been distributed as yet.

“Operating revenues have been below budget, notably parking, however this has been offset by an increase in the amount of rates received,” says Mr Clifford.

Chief Financial Officer Grant Elliott says it has been a good start to the 2016/17 financial year.

"Council managers and officers are continuing their focus on delivering services at the lowest possible cost without compromising on quality.”

Financial Accountant Keith Allan told Councillors at today's Finance and Performance Committee meeting that Capital Expenditure programmes valued at $8.1m have been incurred against the overall capital programme budget for the year of $52.8m.

“The Council is 11 per cent ahead in terms of the amount of work it has completed compared to the same time last year.

There is always a lot of planning and project management needed at the beginning of each financial year and more work is carried out once the weather improves,” says Mr Allan.

Copies of the Financial Report can be found in the Finance and Performance Committee Agenda at pncc.govt.nz.

ends

© Scoop Media