NPDC’s strong financial performance gets another big tick

Published: Thu 5 Sep 2019 02:10 PM
NPDC’s strong financial performance gets another big tick from global credit assessor
Independent global rating agency Standard and Poor’s has again reconfirmed NPDC’s AA/A-1+ credit rating, highlighting its strong financial management.
The rating is the highest possible rating a local government body can get in New Zealand.
“NPDC manages assets worth $3.3 billion, runs 17 businesses and has an annual operating budget of about $155 million so it’s very pleasing to see our robust financial management get the seal of approval from independent global credit assessor, Standard and Poor’s,” says Chief Financial Officer Joy Buckingham. “The strong credit rating is underpinned by the $296 million Perpetual Investment Fund, which makes an annual release that offsets rates.”
NPDC is investing $44 million over the next decade to improve water resilience, while the $21 million investment in Zero Waste 2040 is already having an impact with new bins rolling out and work starting soon on The Junction reuse and recycle centre.
The positive outlook for NPDC comes ahead of the upcoming elections where residents will vote for a Mayor, Councillors and Community Board Members who make strategic decisions about our priorities and their financial impacts.
To read the full Standard and Poor’s report click: here.

Next in New Zealand politics

Statement From Police Commissioner Mike Bush Following Guilty Pleas In Operation Deans Prosecution
By: New Zealand Police
Nation Steps Up To COVID-19 Alert Level 2
By: New Zealand Government
Cabinet Approves Business Continuity Package In Response To COVID-19
By: New Zealand Government
Record transport investment in Draft GPS 2021
By: New Zealand Government
On The Loss Of Abortion Safe Zones
By: Gordon Campbell
On The Oil Price Smackdown, And On National’s Fatuous Crusade Against Red Tape
By: Gordon Campbell
Predator Free 2050 Strategy - Expert Reaction
By: Science Media Centre
Land, Air And Sea: Regions To Benefit From NZ Upgrade
By: New Zealand Government
Statement On Guilty Plea Of March 15 Terrorist
By: New Zealand Government
Christchurch mosque attacks: Gunman pleads guilty to all charges
PM on mosque attacks anniversary: 'A year on gives us a chance as a nation to reflect'
Dunne Speaks: Nothing Much Has Changed Since March 15
By: Peter Dunne
Statement On Guilty Plea
By: Royal Commission of Inquiry into Attack on ChCh
Guilty Plea By Accused In Christchurch Mosque Attacks
By: Islamic Women's Council of New Zealand
Life In Prison Looms For Australia's Christchurch Gunman, Now NZ's First Convicted Terrorist
By: The Conversation
View as: DESKTOP | MOBILEWe're in BETA! Send Feedback © Scoop Media