Council not collecting enough money
By local democracy reporter Brendon McMahon:
The West Coast Regional Council is being warned it is not collecting enough money from rates, and will need to consider using its investments again to subsidise rates.
The council's financial manager raised the matter as it received a report on its investment portfolio at a Risk and Assurance Committee meeting on February 20.
Committee chairperson Frank Dooley said fund manager JB Were had advised "a cautious stance" over divesting its portfolio.
Acting corporate services manager Aaron Prendergast said the draft long-term plan suggested using funds generated from this portfolio to reduce rates.
The council was "under rating".
"It is timely for some of those decisions around how the portfolio operates," he said.
Dooley said the council's rates income should generate debate again this year.
He repeated his previous stance that council could not afford to keep rates down if it were to meet its statutory responsibilities.
"This council has under rated for a number of years, and as a result we have accumulated a number of deficits," he said.
"As we go through the LTP consultation phase I think this is something that will be … debated quite rigorously."
That included the role of the investment portfolio and rates income, Dooley said.
The ouncil's investment fund closed for the six months to December 31 at just over $13 million, $431,484 higher from July 1 ($12.57m).
Its catastrophe fund sat at $495,817 while awaiting the $1m previously spent in Westport in 2022.
According to the investment report, the council owes $11.4m via the Local Government Funding Agency, and nearly $2m under a 'multi-option credit loan' with Westpac.
Prendergast said the council needed to weigh up its investment and its capacity to use that to subsidise rates increases.
"I think the quantum if we were to reinvest as opposed to subsidise rates is about $1 million a year," he said.
Councillor Brett Cummings said council had previously used investment income to subsidise rates income, but this saw the investment fund growth rate slowly decrease.
Subsequently, the council chose to build up the main fund again, with the last withdrawal in 2021.
Dooley was the sole dissenter against the 2023-24 increase of 16.4%, saying it needed to be much higher.
Meantime, some ratepayers are still unclear what their total 2023-24 rates bills will be.
Poll: Is it rude to talk on the phone on a bus?
Buses can be a relaxing way to get home if you have a seat and enough space. However, it can be off-putting when someone is taking a phone call next to you.
Do you think it's inconsiderate for people to have lengthy phone calls on a bus? Vote in the poll, and add your comments below.
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64% Yes
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33.4% No
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2.5% Other - I'll share below
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Paddy Gower seeks ‘bloody great Cantab’
The Kiwi journalist drilling deep into the country’s biggest issues is on a mission to find the local greats.
Paddy Gower is looking for the Good Kiwi in every region to feature in his show, The F@#$ing News - Paddy Gower Live on Tour.
To nominate a Good Kiwi, email reporters@press.co.nz with the name and a description of why your nominee should win. You an also share the local issues you think Paddy needs to tackle in the comments below.
It could be the woman whose knitting circle has made 3800 items for victims of domestic violence, the guy running the length of Aotearoa for mental health, or the woman with terminal cancer who spends her time campaigning to raise awareness and save lives.
“Basically I am looking for ... a bloody great Cantab who just gets on and gets things done. The criteria is somebody who has a positive attitude and makes the community a better place," Gower said.
“I will give this person the 'Big Ups' they deserve, and the community can celebrate them with me.”
A Good Kiwi will feature in each of Gower’s live shows in 14 centres through November and December. He will name the Cantabrian Good Kiwi at his Christchurch show on the evening of Friday, November 22, at St Margaret’s College.
The F@#$ing News - Paddy Gower Live on Tour is a sort of book tour, sort of stand-up comedy, some journalistic yarns and memoir, and some motivational speaking - with a fair bit of local in each show.
Gower also wants to know about topics of interest in the region.
“I’m ... going to be taking on a big issue facing Canterbury and offering up solutions.”
A stinky suburb, a neighbourhood needing a round-about or a cathedral in disrepair - “I will make your views count”, he said.
“I'm touring the nation to spread positivity, optimism and good vibes.”
*For tickets to the The F@#$ing News - Paddy Gower Live on Tour visit paddygower.co.nz
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