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HIGHLIGHTS 2005/2006

Town Centre
The upgrading of the town centre will continue, to be funded from loan.  The upgrading of public toilets and playgrounds will also continue, this to be funded from reserves.

Coastal Development
Funds have been budgeted to develop a walkway/cycleway from the Ocean Ridge subdivision towards South Bay, to eventually form part of the link with walkways over the peninsula.  This is to be funded by the Ocean Ridge developer.

Airport
The hangar development should be completed in 2005/2006, once the development plan has been completed.

Harbour
The New Wharf should be replaced within the next two years, and Council has made provision for some work on the Old Wharf.

Council Office/Museum/Library
Council is continuing to investigate the feasibility of relocating its offices to a major facility that could potentially house the museum, library, other government agencies, a multi-sports complex, gymnasium and swimming pool.  At this stage provision has only been made in this Annual Plan for design and investigation, as it is anticipated that any construction costs to be incurred are at least 12 months away.

VARIATION FROM LTCCP 

Provision had been made for the town centre development to have been completed in 2004/2005, some of this work has been carried forward to 2005/2006.

The hangar development had been provided for in 2004/2005.

Other than these variations, there is no significant change from the LTCCP.

                                                                  LTCCP        Annual Plan
                                                                     2006                   2006
Operating Expenses  
Parks & Reserves  
Operations                                              330,940               306,301
Loan Interest                                             59,472                23,472
Depreciation                                              24,241                24,069
                                                                414,653              353,843
Airport  
Operations                                                18,439                 18,490
Loan Interest                                             13,604                   6,802
Depreciation                                                2,199                   2,891
                                                                  34,242                 28,183
Harbour  
Operations                                                77,366                  90,601
Loan Interest                                             76,239                 76,239
Depreciation                                              31,878                 31,878
                                                                185,483               198,718
Property  
Operations                                               197,213              196,509
Loan Interest                                             40,293                40,293
Depreciation                                              46,674                61,357
                                                                284,180              298,159
Library  
Operations                                               188,060              192,191
Loan Interest                                                       -                         -
Depreciation                                               37,926               38,009
                                                                 225,986             230,200
Forestry  
Operations                                                 18,978               19,020
Loan Interest                                                       -                         -
Depreciation                                                        -                         -
                                                                   18,978               19,020
  
Total Operating Expenses                     1,163,523          1,128,122
  
Funded by:  
Targeted Rates                                          94,888               95,723
User Fees & Charges                              432,368             422,563
Grants & Subsidies                                      2,500               62,500
Interest & Other                                        100,000             130,000
Development Contributions                       100,000             100,000
                                                                  729,757             810,786
  
Operating Surplus/(Deficit)                      -433,766           -317,336
  
Capital Expenditure  
Parks & Reserves                                      55,000               76,000
Airport                                                                 0                 6,500
Harbour                                                               0                        0
Property                                                              0               30,000
Library                                                       29,000               31,000
Forestry                                                       8,000                 8,000
Loan Principal                                           120,092             111,195
                                                                 212,092             262,695
  
Other Revenue:  
General Rates                                          598,718             515,543
Reserves                                                  -92,000            -131,500
Loans                                                                  0               30,000
                                                                 506,718             414,043
  
BALANCE (DEPRECIATION)                    -139,140            -165,988

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