AKC
29/08/2014 09:28
FLLYR
REL: 0928 HRS Auckland Council
FLLYR: AKC: Auckland Council finances go from strength to strength
Media release
29 August 2014
Auckland Council Group finances go from strength to strength
It has been another year of good financial performance for the Auckland
Council Group which reported its unaudited preliminary financial results to
the NZX today.
During the year the group's credit ratings were reaffirmed by both Standard &
Poor's and Moody's and the group has achieved results better than budget.
This provides a strong base for planning the next ten years.
o The group is reporting an operating surplus of $150 million compared to a
$38 million budgeted deficit
o Total borrowings are below budgeted levels
o Savings targets were achieved and the organisation has increased its
expected annual savings targets for future years
The group continues its transformation focused on delivering services with
better value for money.
This year the group invested $1.6 billion renewing and expanding assets to
its growing Auckland communities. The capital programme delivered local
community facilities and parks, and local and regional infrastructure and
transport. This work contributed to a boost in the value of the group's total
assets from $37 billion to $40 billion.
"Aucklanders can have confidence that we are continuing to invest in our city
whilst delivering the services they value." says Auckland Council Chief
Executive Stephen Town.
A copy of the results reported to NZX is available on the council's website:
www.aucklandcouncil.govt.nz/annualreport
Ends
For media assistance, please contact:
Glyn Walters, Manager Media Relations, 021 278 6858
End CA:00254579 For:AKC Type:FLLYR Time:2014-08-29 09:28:13
