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Kaikoura District Council
PO Box 6
Kaikoura

Street:                    34 Esplanade
Phone:                   (03) 319-5026
Fax:                       (03) 319-5308
Email:                     kdc@kaikoura.govt.nz
Website:                www.kaikoura.govt.nz

 
BANKERS:

Bank of New Zealand, Kaikoura Branch

AUDITOR:

Audit New Zealand

GENERAL STATISTICS:

Land Area:                                           2,048 square kilometres
Capital Value:                                       740,671,750
Length of Coastline:                             105 km
Length of Roads:                                 199.2 km
Number of Bridges:                              38
Population:                                            3,483    (Census 2001)
Rateable Properties:                             2,200
Estimated Total Rates 2005/2006:        $3,670,617 (incl GST)

Our Vision:

“The Kaikoura community displays responsible custodianship of its unique natural, social and built environmental resources by striving towards the sustainable utilization and management of these resources.

It is a community that treasures the present small-scale town atmosphere and strives to retain and enhance this coastal village character and atmosphere”.

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Forecast Statement of Financial Performance
For the year ended 30 June 2006

	LTCCP 2004/2005	Annual Plan 2005/2006
Revenue
Roading	326,131	327,648
Water Services	1,720,720	1,908,245
Refuse & Recycling	1,000	1,000
Community Facilities	743,328	810,786
Leadership	118,400	91,400
Development Control	355,638	366,904
Community Safety	47,960	68,969
Sustainable Development	172,224	259,331
General Rates	2,059,616	2,191,000
Interest Income	33,226	26,080
	5,578,243	6,051,363
Expenses
Roading	902,146	969,933
Water Services	987,598	1,052,746
Refuse & Recycling	195,538	229,117
Community Facilities	1,120,790	1,128,122
Leadership	470,473	455,900
Development Control	489,971	515,412
Community Safety	175,887	190,474
Sustainable Development	325,297	533,090
	4,667,700	5,074,794
Net Surplus/(Deficit)	910,543	976,569

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Forecast Statement of Financial Position
As at 30 June 2006

	LTCCP 2004/2005	Annual Plan 2005/2006
Current Assets
Cash & Deposits	1,073,364	1,151,767
Stock	1,885	1,885
Accounts Receivable	607,673	660,305
Prepayments	42,719	42,719
Current Portion of Sinking Fund	91,269	91,821
GST Refundable	14,400	14,400
	1,831,311	1,962,896
Non Current Assets
Sinking Funds & Investments	169,500	170,524
Fixed Assets	59,485,400	59,986,354
	59,654,900	60,156,878
Current Liabilities
Accounts Payable	420,884	464,203
Current Portion of Term Debt	1,373,000	1,480,000
	1,793,884	1,944,203
Non Current Liabilities
Long Term Borrowings	4,024,836	3,547,237
Term Debt and Other	974,675	974,675
	4,999,511	4,521,912
Net Assets	54,392,816	55,653,659
Equity
Share Capital	13,455,320	13,455,320
Reserves & Special Funds	40,130,106	40,130,106
Retained Earnings	1,107,390	2,068,233
	54,392,816	55,653,659

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Forecast Statement of Cashflows
For the year ended 30 June 2006

	LTCCP 2004/2005	Annual Plan 2004/2005
Operating Activities
Cash provided from:
Rates	3,073,737	3,262,770
Interest Income	33,226	26,080
Other	2,344,158	2,706,263
Cash applied to:
Interest Expense	365,321	353,282
Operating Expenses	3,369,810	3,721,882
Net Cash Flow from Operations	1,726,989	1,919,949
Investing Activities
Cash provided from:
Sinking Funds Received	193,164	174,555
Sale of Assets	-	-
Cash applied to:
Sinking Funds Paid	202,602	181,082
Purchase of Assets	2,673,327	1,414,765
Net Cash Flow from Investing	(2,682,765)	(1,421,292)
Financing Activities
Cash provided from:
Drawdown/(Repayment) of loans	886,836	65,591
Total Net Cash Flows	(68,940)	564,248
Opening Cash Balance	1,142,304	587,519
Closing Cash Balance	1,073,364	1,151,767

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Highlights 2005/2006

The coming year is shaping up to be a very busy year for Council, as much of the development we have been planning for so long is starting to come to fruition, and much of the growth we have been anticipating is on its way. 

The footpath and streetlight upgrades commenced in 2005 and some of this work will continue into the 2005/2006 financial year.  The design for the New Wharf is being finalised and could be constructed this summer.

Council has purchased a secure ground water source with exceptional water quality to supply the Kaikoura township.  It is anticipated that this source will be able to supply the town water for the next ten years, providing for a doubling of population and tourist numbers over that period.  The water source will require the construction of a new mainline and treatment facility before it is fully operative, and will need to be pumped up to the storage reservoirs, unlike the current water source which is largely gravity fed.

The existing oxidation ponds will be desludged, therefore restoring them to full capacity and ensuring their useful life is extended a further 20 years.

The Proposed District Plan is nearing the point at which it can become operative, once this Plan is in place the planning process should be simplified as building and resource consents will not need to be checked against two concurrent Plans.  However new Building Act legislation has made the building consent process much more stringent with far greater administrative demands.

Council has recently announced it is considering a relocation of its offices to the area of land at the corner of Churchill Street and Scarborough Tce, currently occupied by Innovative Waste’s office and education centre.  An exciting concept has been developed which could potentially see the development of a new museum, library, art gallery, multisports complex including gymnasium and swimming pool, and outdoor sports grounds, all housed within this facility.  During 2005/2006 Council will undertake feasibility studies and will assess how each stage of the development could best be funded.

As part of this process, Council has developed a Development Contributions Policy, included in this document, which will provide an opportunity for some of these community facilities to be funded from developers.

Pleasingly, the net affect of our increased rates requirement will this year result in a less than 3% increase in rates for most properties, largely due to the growing rating base.  Council continues to focus on minimising funding impacts on these residential ratepayers, and is proud to deliver this promise.

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