Where the money comes from

The Council uses a number of mechanisms to fund our operational and capital expenditure. Rates are expected to fund 60 percent of our operational expenditure.

We also collect revenue from fees and user charges, grants and government subsidies, and other sources such as interest and dividends from investments. Capital expenditure is funded through borrowings, grants and government subsidies, and development contributions for projects which aim to meet the demands from growth.

The Council uses a number of mechanisms to fund our operational and capital expenditure. Rates are expected to fund 60 percent of our operational expenditure.

We also collect revenue from fees and user charges, grants and government subsidies, and other sources such as interest and dividends from investments. Capital expenditure is funded through borrowings, grants and government subsidies, and development contributions for projects which aim to meet the demands from growth.

  • Rates

    by Fiona@WCC, 5 months ago
    4 rates

    Ngā reiti

    We are proposing to increase average rates by 3.9 percent in 2019/20.

    The Council is planning to collect $325 million (GST exclusive) of rates during 2019/20. This figure reflects our efforts to manage the city’s finances efficiently and prudently.

    Our rates revenue is split between general rates and targeted rates.

    General rates are paid by all ratepayers and are applied to services which benefit the whole community, for example parks, libraries, pools, roads and footpaths.

    Targeted rates are paid for by an identified group of ratepayers. Examples of targeted rates are water, stormwater and wastewater, and Business Improvement...

    Ngā reiti

    We are proposing to increase average rates by 3.9 percent in 2019/20.

    The Council is planning to collect $325 million (GST exclusive) of rates during 2019/20. This figure reflects our efforts to manage the city’s finances efficiently and prudently.

    Our rates revenue is split between general rates and targeted rates.

    General rates are paid by all ratepayers and are applied to services which benefit the whole community, for example parks, libraries, pools, roads and footpaths.

    Targeted rates are paid for by an identified group of ratepayers. Examples of targeted rates are water, stormwater and wastewater, and Business Improvement Districts (BIDs).

    Who pays rates?

    We all pay rates * insert infographic.

    To find your property and rates information visit our property search.


  • Borrowings

    by Fiona@WCC, 5 months ago
    2 borrowing

    Te Mino

    We borrow to fund upgrades to our assets or to invest in new infrastructure. This allows us to spread the cost of funding this expenditure over multiple generations who will benefit from the investment.

    Council debt is currently capped at a maximum of 175 percent of annual income over the 10-year plan and is expected to be 127 percent by the end of 2019/20 – the same as a household earning $75,000 a year having a mortgage of $105,000.

    $690m

    For 2019/20 total borrowings are forecast to be $689.6 million at the end of 2019/20, this equates to...

    Te Mino

    We borrow to fund upgrades to our assets or to invest in new infrastructure. This allows us to spread the cost of funding this expenditure over multiple generations who will benefit from the investment.

    Council debt is currently capped at a maximum of 175 percent of annual income over the 10-year plan and is expected to be 127 percent by the end of 2019/20 – the same as a household earning $75,000 a year having a mortgage of $105,000.

    $690m

    For 2019/20 total borrowings are forecast to be $689.6 million at the end of 2019/20, this equates to 127 percent of operating income.

    $3,200 per resident

    The forecast average borrowings per resident at the end of 2019/20 is $3,222.