City Finance Cost(s)
Finance (Interest) Cost(s)
2017/2018 Annual Plan
There was much joy and jubilation Hamilton receiving $272 million interest free from the Government $1 billion infrastructure fund. The current debt is $434 million; finance (interest) cost is $21,819,000 (nearly $22 million per year). The increase of $272 million will push the debt to $706 million with additional cost of $27.2 million per year to pay back the $272 million takes the annual interest (finance) cost to $41.019 million and pushes the net interest–cost-to-total-revenue to 20.78%.
Current Finance Cost (Interest) $21,819,000
Plus
Infrastructure Fund Payments $27,200,000
$49,019,000 per year
Broken down Council (Ratepayers) have to fund/find
Monthly (12) $4,084,916.67
Weekly (52) $942,673.08
Daily (365) $134,298.63
As well as run the daily operation of the city. All of this takes no account of
:
a. $13.3 million at ‘Waterworld’ www.stuff.co.nz...
b. The Water Pipes leading to the East
c. The ‘Frankton Plan’ the ‘River Plan’, the ‘Ferrybank Plan’ the ‘CBD plan’ and at least another 20 odd other projects Council have pencilled in and some supposedly FUNDED.
d. Oh, the ZOO $15.7 million
e. $34.5 million on Founders Theatre www.stuff.co.nz...
f. Not to mention other ‘Dreams are Free’ Plans/Projects proposed by Council.
If Ratepayers objected to the recent “Free” parking proposal, imagine the reaction when they receive their rates to fund this 20.78% interest–cost-to-total-revenue plus any other ‘Dreams are Free’
Hamilton is in deep do dos.
Austerity is the order of the day – cut one’s cloth…the alternative will be to price people out of their homes, it has happened overseas the conditions are the same.
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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64.6% Yes
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32.8% No
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2.6% Other - I'll share below
What would you do if it was your job to fix Hamilton's CBD?
More alcohol restrictions, more lighting, busking rule changes and a whole lot of lobbying - these are some ways Hamilton leaders want to sort out the CBD.
Crime and anti-social behaviour in the area has been in the spotlight after recent news of a man defecating in the street near a city pub and another who flipped tables out the back of a bar after being found scrounging cigarette butts and asked to leave.
What would you do if it was your job to fix Hamilton's CBD? Tell us your reasons in the comments (adding NFP if you don't want your words used in print).
Floor show
Spruce up your outdoor area for spring soirées in the sun with a simple but stylish rug you can personalise with your own design using your favourite Resene colours.
Find out how to create your own with these easy step by step instructions.
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