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.
New Year, New Questions You Won’t Solve!
I get smaller every time I take a bath.
What am I?
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Clothesline upgrade
Turn a tired old clothesline into a stylish garden feature that brings joy to the chore of getting your washing out in the sun. Finish in Resene Waterborne Woodsman Crowshead. Find out how to create your own with these easy step by step instructions.
Explore more, worry less at Ryman
Pack your bags, hit the open road, or set sail on your next big adventure. With Ryman’s lock-and-leave-style living, you’re free to explore without worrying about home maintenance or security.
While you’re off enjoying life, we’ll take care of everything back home – from mowing the lawns to watering the garden, pulling weeds, and even cleaning the windows.
Ryman residents are free to embrace adventure because they're not tied down with home maintenance stress and security worries. They're rediscovering lost passions and plunging headfirst into new ones whenever they feel like it.
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