AKC
27/02/2015 12:33
HALFYR
PRICE SENSITIVE
REL: 1233 HRS Auckland Council
HALFYR: AKC: Finances show further investment in Auckland
Media release
27 February 2015
Finances show further investment in Auckland
The Auckland Council Group financial results for the six months to 31
December 2014 have been released today.
It shows an on-going commitment to investing in priority areas across
Auckland while providing value for money.
"Aucklanders can have confidence that our focus continues to be on delivering
efficient services and in providing the necessary investment to meet the
demands of growth whilst balancing this progress with affordability," says
Kevin Ramsay, Acting Chief Finance Officer.
This half-year $751 million has been invested in key assets across priority
areas such as transport and in growing Auckland communities.
This includes $107 million on new electric trains providing more frequent and
reliable services with an 18 per cent increase in rail patronage for the 12
months to December 2014 and $22 million on new local libraries with openings
of the Ranui, Te Atatu and Waiheke libraries.
Overall, this investment has contributed to an increase in the value of the
group s total assets from $40 billion to $41.2 billion.
There has also been increased activity in improving infrastructure such as
roading, water and wastewater network, a growth in building consent activity
and more events such as Auckland Nines, Cricket World Cup and preparations
for the World Masters Games. This is reflected in the staff and other costs
shown in the statements.
The Council Group has also worked hard to bring more skills, knowledge and
services in-house to reduce the use of external contractors.
During this period the Group's AA Standard and Poor's and Aa2 Moody's credit
ratings was reaffirmed, which remains one of the strongest ratings in New
Zealand.
ENDS
Note: The Council Group s six monthly results will be reported to the Finance
and Performance Committee on 19 March 2015. Each of the Council s seven CCOs
will report to the CCO Governance and Monitoring Committee on 3 March 2015.
End CA:00261270 For:AKC Type:HALFYR Time:2015-02-27 12:33:30
