The money - who's paying for it?
While your rates go a long way toward paying for the work we do, we don’t expect you to pay for everything. Some of our funds come from other sources.
We have minimised general rates by:
Increasing the Port Otago dividend from $8.1 million to $10.1 million.
Using $4 million of our general reserves.
Our Long-term Plan forecasted a need to increase its rating revenue to match community aspirations, particularly on freshwater. While we did not foresee the level of expenditure now proposed for 2020-21, we’re in a position to use our financial strength. We have reduced the rating requirement through using investment income and reserves.
Overall rate increase
|Average rate increase||5.5%|
Consultation has concluded