TRC balance sheet healthy
A new, more colourful and informative way of reporting financial performance as been adopted by Taranaki Regional Council to report budget trends.
Council staff would now use a colour coded green, yellow and red ‘scoreboard’ system to compare monthly financial performances against annual full budgets, corporate services director Mike Nield told the executive, audit and risk committee meeting on Tuesday.
The dials would show the financial performance of different council activities, such a resource management or biosecurity, and whether it was over or under budget.
TRC chief executive Basil Chamberlain said the new system would allow the council to give regular budget updates clearly to the public.
‘‘That’s what the public pay their rates for,’’ he said.
In other items covered by the six weekly meeting, the council public risk liability insurance coverage had increased by $100 million, from $200m to $300m, as a result of the council switching underwriters from NZ Mutual Liability to Lloyds of London.
However the switch to Lloyds for combined liability had reduced the premium from $23,490 to $19,725, Nield said.
The Kaikoura earthquake and a 40 per cent increase if fire services levies had increased premiums for material damage insurance, he said.
Recent flood control upgrades in the lower Waiwakaiho, and lower Waitara rivers had been successful, the meeting was told.
Both areas were unaffected by heavy rain over winter and withstood high river levels, council operations director Stephen Hall told the meeting.
It is projected council will spend on average between $40,000 and $46,000 on annual maintenance in the two areas.
No major projects are in the pipeline for either Hollard or Tupare Gardens over the next decade, regional gardens manager Greg Rine told the meeting.
Smaller projects at the attractions, such as a barbecue, heating, lighting and a workshop, had been completed to maintain the high standards, Rine said.
The regional development strategy Tapuae Roa - Make Way for Taranaki was important to leverage concessions from central government, council chairman Dave McLeod told the meeting.
The strategy focused on tourism and visitor services, energy futures and future food sources to develop an action plan to be launched in early 2018.
McLeod said the region had been exposed by its reliance on dairying, and oil and gas.
‘‘We need to be more than just dairying, and oil and gas to be more resilient and grow a sustainable economy,’’ he said.
Upgrades to Pouakai Crossing, and Pukeiti were being used to focus on the ‘Mountain to the Surf’ visitor experience.
Yarrow Stadium continued to build a strong support from small events outside the main sporting codes.
As many as 33,000 people used the Stadium for 413 events, including expos, weddings and conferences, during the past 12 months, he said.
New hospitality areas at the Stadium had helped attract large events such as the All Black v Argentina test in September, Nield said.
The regional council provided $876,000 annual funding to the ground to help host 10 major sports events during the year to date including A - League football, T20 cricket, and Super Rugby, he said.