$881,000 surplus reported
Stratford District councillors received the council’s annual report for the year during an extraordinary meeting last Tuesday.
The council finished the year with an operating surplus of $881,000, compared to a budgeted surplus of $263,000. The difference was primarily due to additional subsidy revenue from the NZ Transport Authority.
The statement of financial position showed equity was less than council anticipated, which is primarily due to the lesser than predicted increase in council’s asset values as a result of the revaluation in July 2016.
The audit provides an overview of council’s performance and keeps things transparent for ratepayers and it received an unmodified opinion from Audit New Zealand, as presented at the meeting by audit director Andrew Clark. Andrew commended council staff for the hard work they put into the report.
Stratford mayor Neil Volzke says the fact council had managed to finish the year on the right side of the ledger was positive.
He noted that the council had achieved an “outstanding feat” around drinking water compliance.
All three of the council’s water schemes achieved full compliance for the past financial year.