Contents. Page Number 1 Introduction. 2 Long Term Financial Strategy. 3 Annual Plan. 4 Appendices

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1 Contents Page Number 1 Introduction Mayor s Message 3 City Manager s Introduction 5 Community Consultation 8 Background and Future Direction 9 2 Long Term Financial Strategy An Acceptable, Viable and Sustainable Strategy 12 The Long Term Financial Strategy 13 Impact on the Ratepayer 22 Capital Development Programme and Renewals Programme 24 3 Annual Plan Budget 32 Activities of Council 37 Significant Interest Organisations 74 Borrowing and Investment Policies 78 Accounting Policies 80 Funding Policy 81 Rating Issues 84 4 Appendices The Council Structure 90 City Statistics and Council Resources 93 Statutory Compliance 96 Equal Employment Opportunities 102 Council Supported Organisations 103 Transfund New Zealand In-House Work 107 Programmes Approved for 1999/ Glossary Of Terms 114 Where To Go For More Information 115 Note: Each section has a detailed contents page. 1

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3 Mayor s Message It is with pleasure that I commend to your attention our Annual Plan for the 1999/ 2000 financial year, and thank all those who contributed through submissions and at meetings. A key feature in our decision-making has been the Long Term Financial Strategy (LTFS) proposal. This was a controversial part of the Annual Plan and I am appreciative of the very positive and thoughtful approach that was brought to the issues, and in particular to that of the Water LATE. A strong sense of the importance of community emerged and of being citizens rather than customers. The LTFS is a means to an end. Its purpose is an acceptable, viable Long Term Financial Strategy that advances our City Vision, of making Palmerston North an exciting city in which to live, learn, work and play. The LTFS has to be the framework in which the City of Palmerston North can be financially sustainable over the next 10 years and achieve its Vision. Your contributions were significant in Council s final decision about the way forward. The final plan is different in some respects from the Draft Annual Plan. For example, the decision has been made not to proceed with a LATE for water services. The contestability strategy with regard to service delivery will proceed at a more measured pace. Process improvements remain a key part of the plan. Our Council s current Mission Statement is Working with our community to build a better city. The annual planning process gave opportunity for comment on this Mission Statement and the City Vision. This led to a reaffirmation of these statements of direction and purpose. Councillors have recently confirmed their support for the City Vision but with greater emphasis on economic development and the environment, underpinned by recreation and community development. We asked a lot of the community of Palmerston North in this year s annual plan process, but did so because the issues are so important for the future of our splendid city. We were not disappointed. An ongoing imperative is to thoroughly debate the role of local government in a society which has changed dramatically in the past 30 years. The history of local government is a history of change. Over the year ahead we should continue to explore the positive changes this city needs to ensure our collective well-being, into the 21st century. Jill White MAYOR 3

4 Te Whakatakina a te Ripa Tai Whenua He miharo-a-ngakau tenei kia whakatakotoria-atu ki mua i a koutou, ta matou TaataingaToopu-a Tau, mo te wa 1999/2000, i runga ano i te tino whakamihi ki te hunga whaipaanga, mai i a ratou tuhinga whakatau me nga whaka-aputanga mangai. Ko te tino take na reira i para te atawhainga mo matou, i kitea i roto i te Rautaki Tahua Nuku Wharoa. Ahakoa tona whakatumatuma, e mihi kau ana mo te tino pakeketanga o te rohe hapori, i roto i nga tautohe me nga whakaritenga, me nga whakataunga hoki. Otira, te wahanga e pa aua ki nga wai ki ia hau-kaainga i raro i te Mana Tu-hokohoko a te Ripa Tai-Whenua, e meatia-ana, kote L.A.T.E.. I whakaahuatia te tumanako, kia pumau tonu te tino rangatiratanga o te iwi, haaunga ta to te Mokai. He ara whaainga ki tona mutunga atu, te Rautaki Tahua Nuku Wharoa. Ko tona tikanga, he taketake, hei kawe whakamua i te tutorohanga o to tatou taone nui, o te Papaioea, hei tauranga ataahua, hei kaainga noho, hei taone whakangungu, whakawhitiwhiti pukenga, hei waahi whakawhanaunga hoki. Koira te anga matua e waimarie ai a te Papaioea ki ona ohanga papai, mo nga tau ngahuru ka tu aki. Na a koutou hanganga kaupapa, i haangai ai nga whakatau a te kaunihera. E maharatia-ake ana, nga whakahounga haere o etahi waahi o te Taatainga Toopu Tuatahi, i whakakorea ai te tuku mana ki te rawaho mo nga ratonga wai. A muri iho nei, ka aata whakaarohia enei tumomo take i te tuatahi, engari ka pumau tonu nga whakatikatika haere. Hei ta matou tauaki, araa - Kia tu tahi me te rohe hapori, ki te whaka-atamira i tenei taone nui. Na nga tukanga mahi ia tau, i taea ai te whaka-uru mai i o koutou na whakaaro, e whai tikanga nei te horahanga o enei tauaki. Kua huri arotahi te tu torohanga a nga apiha o te kaunihera mo te Papaioea, me to ratou tino manawanui hoki, ki nga take ohanga me te taiao, e pupungia-ana e nga tikanga a rehia, me nga whanaketanga whanui a te rohe. Na runga ano i te hohonutanga o nga tino take ka whakamaua ki tenei Taatainga Toopu, i tuwheratia atu ai kia whaipaanga mai te iwi whanui tonu. Ka wananga tonutia te turanga o enei momo Kawanatanga Ripa Taiwhenua ina hoki, te maha noatu o nga whakarerekeetanga a-ture i roto i te toru tekau tau kua pahure ake. Hei nga tau ki mua, me whai tonu tatou i nga tuhuratanga hihira e paingia-ana e tenei taone nui, kia puta ai nga hua ina ka tomua ngatahi atu tatou ki te rau tau, Rua mano te tahi. Jill White MAYOR Translation by Tangihoro Fitzgerald (Licensed Maori Interpreter Maori As An Official Language Act 1987) 4

5 City Manager s Introduction Our Plans for the Future After three and a half years hard work, the Council has settled on its organisational direction. At times it has been a difficult task, as the Council has grappled with the challenges of limited resources on the one hand, and community desires on the other. It has also had to debate key issues relating to the type of organisation it wants, and how services are to be delivered. The adoption of the 1999/2000 Annual Plan and the revised Long Term Financial Strategy (LTFS) now sets the path for this Council. It is worth recapping the process that has led to these documents being adopted. Last year the Council produced its first LTFS, defining what services the Council would provide over the next ten years (of which, year one forms the Annual Plan). This was undertaken to meet new requirements of the Local Government Amendment Act (No3) The LTFS produced, although financially sustainable, was not viewed by the Council as either politically or publicly acceptable and was only adopted in June 1998 with the proviso that an immediate review be undertaken. Accordingly a review was carried out, with the assistance of KPMG. The result formed the basis of the Reviewed LTFS and the 1999/2000 Draft Annual Plan. The key features of the Reviewed LTFS were: On a per household basis rates would not increase in real terms (ie. before inflation) over the 10 years of the LTFS. Rates and charges would increase in 1999/00 and 2000/01, then decline in real terms each year thereafter. Capital expenditure was unaltered at $130m. Process improvement benefits would exceed process improvement costs from 2001/02 onwards. In 2001/02, there would be a significant shift from rates to user charges as LATEs were established. Household rates would reduce from $1,325 to $913, while water and roading charges would increase from $60 to $476. Returns from the LATEs at $2.5m would commence from 2003/04 onwards. The assumptions underpinning the new strategy were subject to more in depth investigation, following the strategy s release for public consultation. Note was also made of the risks attached to the Reviewed LTFS. The finally adopted LTFS contained in this document is a result of both that further investigation and the community s response to the reviewed strategy presented in the 1999/2000 Draft Annual Plan. Community Feedback The Reviewed Long Term Financial Strategy and Draft 1999/2000 Annual Plan were released for public consultation on 5 March this year, and were open for comment until 6 April. The Council received 813 submissions, of which 122 were heard by a Committee of Council, during 13 hearings. There was significant public comment in respect of the Water LATE proposal and the Council has resolved that Water and Roading LATEs not be established. Community feedback was also sought on the need to either reaffirm or revise the City Vision (the type of community that the citizens of Palmerston North want to create over the next 20 years) and the Council s mission statement ( Working with our Community to build a better City ) in light of proposed changes to the way in which Council delivers its services (inherent in the revised LTFS). Submissions received on this topic generally supported affirming both the City Vision and the Mission. Of those recommending change, the majority suggested greater emphasis in a particular area, already encompassed in the Vision, for example economic development and partnership. A large number of submissions received sought funding, or an increased level of funding. In response the Council will be funding an increased number of community initiatives in the year ahead, these include Drug Arm, Hip Hop Highbury and Citizens Advice. 5

6 Where to from Here? As in past years the Council has endeavoured to respond in a meaningful way, to both the needs of the community and the demands of central government. This causes, at times, a very real dilemma for the Council, as it attempts to match increasing expectations and available resources. The Adopted 1999 Long Term Financial Strategy The key features of the adopted LTFS are that: Rates increase in the first three years until a process improvement programme produces sustainable savings in costs. Rates further increase at the time Wastewater 2006 becomes operative. Business Units will be pursued to further achieve the process improvement gains, and to enhance the value of Council s assets. Debt rises initially, but drops again within 10 year period. The Major Projects included in the adopted Long Term Financial Strategy over the next 10 years are: Wastewater 2006 Wastewater Treatment Plant Upgrade Water System Improvements New Bridge Lido Development Convention Centre Showgrounds Oval Improvements CBD Developments Recreational Facilities Improvements to Stormwater More specifically, some of the major works included in the 1999/2000 Annual Plan are: Turitea Overhaul - to ensure the main control system of the Turitea Water Treatment Plant is Year 2000 compliant. Process Improvement - to make Council systems and processes operate more efficiently and effectively, which may include the purchase of new information technology. It is important to note that the costs of this project will be recovered from identified savings in Council processes, and will set a lower cost basis for the Council in future years. Roberts Line Upgrade - to meet full urban standards of kerb and channel, footpath carriageway and lighting. Wastewater Improved Effluent Treatment - provides for public consultation on treatment and disposal options for the City s wastewater and for undertaking the next stage of detailed investigations and resource consent work for the selected option. Changes between the 1998/99 Annual Plan and the final 1999/2000 Annual Plan Changes from last year s plan are in the area of presentation of information. The Lifelong Learning Significant Activity has been incorporated into the City Development activity. It is expected the status of The Science Centre and Manawatu Museum and Manawatu Art Gallery will change, with its administration becoming the responsibility of a Trust Board very early in the new financial year. The newly formed economic development agency, Vision Manawatu will receive significant support from the Council in this financial year, bringing together the functions and activities of the Knowledge Centre, Manawatu Commerce Centre and the Palmerston North Enterprise Board, previous recipients of Council funding for economic development purposes. Other Important Issues Impacting on the Community 6 Year 2000 (Y2K) Readiness The Council is taking the Y2K issue seriously and since 1997 has had a structured plan in place for dealing with it. The process has involved: identifying all systems and processes that could be affected classifying them according to risk, then analysing them and testing them for compliance undertaking remedial action further testing contingency planning and communication.

7 The Council s aim is to ensure that the services and infrastructure that it manages and on which residents and businesses depend, are available through the turn of the century. Contingency plans will be in place should factors beyond the Council s control cause breakdowns. Top priority activities for the Council are those which affect citizens health and safety and include water supply, wastewater disposal, street lighting, traffic control systems and emergency management. The Council plans to have all known problems fixed by 31 July and is well advanced towards achieving this goal. Contingency plans have been completed for all key activities. Y2K readiness planning has been subject to independent external guidance and review. Activity over coming months will focus on further testing of contingency plans and communication with other key utility and emergency service providers. CentralPower Shares The Council is currently reviewing this investment. Its decision on what it will do in regard to this investment will impact either beneficially or adversely on the Long Term Financial Strategy. This effect was not known when the strategy was adopted. Wastewater 2006 Investigations of options to achieve a better solution for the disposal of wastewater are proceeding well. Should the estimates of the costs of this project be much less than the preliminary estimates, the later years of the LTFS will greatly benefit from lower debt and financing costs. Possible Sale of Civic Complex Since the promulgation of the Draft Annual Plan, the Council has received and is considering a proposal, to sell the Civic Administration Building on The Square to developers who would convert it into a hotel of international standards. The current building is far too big for existing Council staff and services, a position that is likely to become worse as time goes on. The proposal is not yet developed enough for inclusion in the LTFS. Process Improvement Should the Process Improvement Programme produce greater savings than the estimated $2 million per annum, then both debt and financing costs will be lower in the later years of the LTFS. It should be noted that it is management s objective to recover all of the project s costs by the time the project is completed, by way of savings achieved through process improvement. Conclusion This year s Annual Plan represents the culmination of an intensive period of review, in-depth investigation and community consultation, all important elements in achieving a viable and acceptable strategy for translating the City Vision into tangible outcomes, which will benefit the community as a whole. While it does bring down the curtain on three and a half years intensive effort, it merely provides the beginning of the really hard work - implementing the LTFS! On behalf of the organisation and its staff, I would like to thank all citizens who have contributed to, or participated in, the production of the LTFS and this year s Annual Plan. Michael Willis CITY MANAGER 7

8 Community Consultation Submissions Received 813 submissions were received, 122 also made oral submissions which were heard by the Council during thirteen hearings in April. What happened to your submissions? Councillors and Managers all received a copy of every submission. Councillors, during the Annual Plan Committee of Council meetings in May, signalled to Officers changes they wanted made to the Draft Document as a result of submissions. A Discussion Document was then prepared for consideration at further Committee of Council meetings in June. More changes were made at this stage, taking into account any additional expenditure required a corresponding reduction in another area. The main changes made as a result of your submissions and more detailed investigation, were: The decision not to proceed with the establishment of Roading and Water LATEs. Additional funding of a variety of community groups. Feedback on your submissions All submitters will receive a letter outlining changes that were made as a result of community consultation (and further investigation by Council). What if the issue/request contained in your submission was not incorporated into the Long Term Financial Strategy, or Annual Plan? We are often able to accommodate requests within existing programmes, or advise when work is planned for in the future (eg Asset Management Plans). New ideas and suggestions of better ways of doing things are incorporated wherever possible. Council staff are happy to discuss issues/concerns with you. Please do not hesitate to contact us. Significant changes from 1998/99 Annual Plan A new Long Term Financial Strategy has been adopted. Rate increase of 3.5% (plus $100k growth in rateable population base) Increase in operational programmes. 8

9 Background and Future Direction Contained in this document is our Long Term Financial Strategy, defining what services Council will provide over the next 10 years and our Annual Plan, which is year one of the Long Term Financial Strategy. These are both local government legal requirements. This section of the document briefly summarises what the purpose of each document is and its linkages to other documents. Linkages between The City Vision, Strategic Plan, other Council s Plans and the New Financial Management Documents It is important to see this Annual Plan, and indeed all future Annual Plans, within the context of the City Vision, the Council s Strategic Plan and the Long Term Financial Strategy and Funding Policy. The emphasis now is on planning over a longer timeframe than previously, to ensure rational and prudent decision making. The Council began this process with the City Vision and the Council s Strategic Plan and this has further been reinforced with the new financial management documents required by the new Act. The linkages between these documents are explained below: City Vision The City Vision is the big picture plan. It sets out the type of City that the community wants Palmerston North to become. It shapes the Council s major spending decisions and has a twenty year time frame. The City Vision is: Together we will make Palmerston North an exciting City in which to live, learn, work and play. Ours will be a caring community where differences are valued. Education, research and knowledge will be our strengths. Our goal is to be a recognised leader in life-long learning. We strive to be creative in work and skilful in business. The Council uses the City Vision as its biggest big picture planning document and it guides all of Council s plans and policies, e.g. the Environment Policy, Economic Development Policy and Strategy, Recreation Plan and Community Development Plan. The Council encourages other organisations and groups in the City to use the Vision in a similar way. It is also encouraging individuals to get behind the Vision and to make it happen. The City Vision has nine Key Result Areas (KRA) in which the city must be successful if it is to achieve the Vision. These are: CV 1 Quality of Life for Residents CV 2 Tangata Whenua Partnership CV 3 Diversity CV 4 An Exciting and Attractive Cityscape CV 5 That Residents Learn for Life CV 6 Growth in Employment and the Range of Work Available CV 7 Growth in the Range of Leisure Opportunities CV 8 Growth in Education Sector CV 9 Growth in Research and Knowledge Because the Vision shapes the future of the City, it is vital that it remains relevant to the circumstances and needs of the City. Hence, the Council agreed to look at the City Vision every three years (following local body elections) to ensure it is still current and appropriate. Late last year Council staff met with some of the key organisations in the City to find out their thoughts on the City Vision. The strong message received was that the City Vision is serving the City well and that it should not be changed. More emphasis, however, is needed on making it happen, especially in the area of economic development. A similar message was received through the Draft Annual Plan. The Council has also reaffirmed its support for the City Vision and has said that it will remain paramount in the Council s planning: At all times, the City Vision will be regarded as the Council s primary driver. In particular, there is to be a focus on the environment and economic development, underpinned by recreation and community development. Strategic Plan & Long Term Financial Strategy The Council s Strategic Plan and Long Term Financial Strategy are Council s long term planning documents. They demonstrate what the Council will do to help achieve the City Vision. The Strategic Plan is a statement of the Council s philosophy and future direction. The roles the Council will undertake will be: Leadership Partnership with Tangata Whenua People Focus and Quality of Service Consultation A Prudent Financial Approach The Long Term Financial Strategy is a statutory requirement that sets out in 9

10 detail how the Council will meet its long term (10 years) financial needs. In particular it shows: the reasons Council provides particular services the costs of those services the source of funding for each service financial summaries and statements cashflow projections estimated reserves, investments and assets The LTFS is to be reviewed every three years. Every year the Annual Plan will set out, from the LTFS, more detail of that particular year s projects and finances, and indicative projects and finances for the following two years. Funding Policy This policy sets out how future expenditure needs are to be funded. The main ways of funding are either through rates or some type of user charge. Annual Plan The Annual Plan is the Council s detailed action plan on Council s projects and finances for each particular year and gives indications for the following two years. These actions will be shaped by the directions outlined in the City Vision and in the Council s Strategic Plan. The Annual Plan is reviewed annually. The expenditure will be shaped by the Long Term Financial Strategy and the Funding Policy. The desired outcomes of the Annual Plan are delivered through the Significant Activities of the Council. The Long Term Financial Strategy, Funding Policy and the Annual Plan are all statutory documents and their contents, and in some cases the process used to determine their contents, are determined by legislation. CITY VISION Council's Strategic Plan Other Plans and Policies District Plan Asset Management Plans Funding Policy LTFS Borrowing & Investment Policies Annual Plan and Report 10

11 Long Term Financial Strategy This Section Contains An Acceptable, Viable and Sustainable Strategy First LTFS Reviewed Drivers of Change The Adopted 1999 LTFS The Long Term Financial Strategy Significant Activities Why Council is involved in its Activities Assumptions Possible Future Events Risks Commercialising the Management of Infrastructural Assets Compliance with Borrowing Management Policy Funding - Where it comes from, what it is used for Financial Statements Impact on the Ratepayer Impact per Household Rates Impact in 1999/2000 Key Financial Trends Capital Development Programme and Renewals Programme Asset Management Plans Major Projects Capital Development Programme Renewals Programme 11

12 An Acceptable, Viable and Sustainable Strategy First LTFS Reviewed After extensive preparation and consultation the Council adopted its first Long Term Financial Strategy in June 1998, and published it in its 1998/99 Annual Plan. At that time the Council stated The Long Term Financial Strategy meets the requirements of the Local Government Act The Council, however, has found the result unacceptable and has, therefore, initiated an immediate review of the document with a view to completing the revision within the current Council term. In this Strategy rates were projected to rise over the 10 years in gross terms by 45% (or, on a rates per household basis by 23.5%). Debt was projected to nearly double in the same 10 years. The Council desired to have an acceptable, viable, LTFS that advanced the City Vision. In particular the Council wanted to have savings in organisational expenditure to permanently lower the Council s cost base, rather than recycle those savings into new programmes or projects as has been the practice in the past (called refilling the bucket ). The adopted 1998 LTFS did not allow this to happen, and created a gap between what the Council wanted, and what it could afford. Consultant s KPMG helped Council to work through the issues and to develop a bold step to overcome the obvious difficulties in the adopted LTFS. This proposal was released for public consultation and was subject to more in-depth investigation. Key aspects of the proposal were: holding down rates and charges a process improvement process a shift from rates to user charges the setting up of Water and Roading LATEs. Significant public comment was received. The subsequent LTFS, as adopted, reflected that comment along with the outcomes of the more indepth investigations. The Council has subsequently endorsed a programme of change. Drivers of Change Council has agreed to a number of principles as drivers of change. These are: Significant change is essential The City Vision is paramount Speed kills! Delay denies! Invest in process improvement to lower costs Diversity in service delivery The infrastructural assets are not for sale Council has also endorsed the following change strategies: Advance commercial management of infrastructural services Institute a process improvement programme Intensify current market comparability policy, and apply the Competition Policy in those areas where market comparability cannot be demonstrated Institute stricter separation between purchasing and delivery Communicate and consult. The Adopted 1999 LTFS Council s 1999 Long Term Financial Strategy increases rates in the first three years until a process improvement programme produces sustainable savings in costs. Rates further increase at the time Wastewater 2006 becomes operative. Business Units will be pursued to further achieve the process improvement gains, and to enhance the value of Council s assets. Debt is seen to rise initially, but drops again within the 10 year period. As the LTFS is achieved the City Vision will be advanced, with Palmerston North progressing towards being an exciting place in which to live, learn, work, and play. 12

13 The Long Term Financial Strategy The Long Term Financial Strategy was adopted on 28 June 1999 and covers the 10 year period from July 1999 to June Significant Activities To achieve its Long Term Financial Strategy the Council has confirmed that it should be involved in the following Significant Activities: City Development Community Development Cultural Facilities Democracy Recreation Regulatory Services Roading and Parking Strategic Planning Waste Management Water Wastewater Stormwater These Significant Activities have been further divided up into Sub-Activities for the purposes of the Funding Policy. This was on the basis of unique benefit and beneficiary patterns. How council delivers these services continues to be examined. Why Council is involved in its activities City Development Community Development The Council is involved in these activities to promote local solutions for local problems and concerns, by acting in the best interests of citizens, and by being consistent with the City Vision. It also has the capacity to advocate strongly for the benefit of all citizens. An important role played by Council is in supporting economic development and in the creation of business and employment opportunities. To enable this to happen the Council provides leadership and facilitates and monitors the growth of the local economy. The Council s involvement in community development is about assisting groups, neighbourhoods and communities within Palmerston North to help themselves to achieve community well-being, and to alleviate disadvantage on the basis of equity. Some benefits of Council providing these activities are: growing city; vibrant shopping; pleasant cityscape; advocacy; participation; equitable access to resources; civic pride; healthy community; diversity; promotional events and activities; attracts people to the City; jobs created; responsible landlord; rent moderator; housing choices; caring community. Cultural Facilities Council s provision of Cultural Facilities means that all citizens have access to information, knowledge, and learning opportunities. The facilities have a collective resource that is greater than any individual or family could afford or accommodate, and act as a focal point for the community. This enhances cultural life and diversity, and promotes public pride and community values. Some benefits of Council providing this activity are: information and knowledge resources; access; environmental awareness and understanding; focal point for the community; safe environment for young and old; entertainment; inspiration; heritage preservation and storage; archives; school project resource; promotes local artists. Democracy The Local Government Act places the responsibility and public accountability of local government in the hands of the Mayor and the elected members. Community governance and involvement is important to the citizens of Palmerston North. This activity aims to ensure that these roles are carried out in a manner that meets legal requirements and community expectations. Some benefits of Council providing this activity are: City leadership; effective decision making; informed community; involved community; fair processes; City pride. Recreation Recreation is an important part of the City Vision. There is a high community expectation that Council should provide recreation facilities, particularly parks and playing fields, as these are best provided on a collective basis. Some benefits of Council providing this activity are: healthy community; exercise; fitness; well-being; social contact; skill development; open spaces; access; diversity; creative outlets; leisure activity; good city image; aesthetic values; civic pride. Regulatory Services Council has a statutory obligation to ensure the provision of a number of regulatory services. These include: animal control, building services, district licensing agency, environmental health, inspections, parking enforcement, and planning services. Some benefits of Council providing this activity are: health; safety; protection of people s rights; reduction of nuisances; reduction of risks to 13

14 citizens; absence of disease; quality environment; implementation of the District Plan; alternative solutions; good city image; hotlines for corrective action; messes cleaned up; animal identification. Roading and Parking The Council is best positioned to ensure roading priorities are local ones and that local people can have a say in their own roading and parking needs. Apart from the roadway and traffic management, there are other amenities to be maintained, such as footpaths, trees, berms, lighting etc. Council will provide a safe and efficient land transport system and parking services, and will advocate for local control of roading networks. Some benefits of Council providing this activity are: safety; movement and access around the City; routes for emergency services; reduced vehicle maintenance; aids commerce and social contacts; visibility at night; orderly traffic management; variety in parking choices; disabled parking; availability and turnover of parking. Strategic Planning It is important that the Council has a strategic, long term view for the City and the Council if both the City and the Council are to continue to develop in appropriate and sustainable ways. This activity helps do this by ensuring that the City is well planned, by anticipating and monitoring community needs and issues, and by providing a leadership role to the Council through policy advice. It will facilitate compliance with present legislation, react to proposed legislation, plan for the City s long term growth, and develop policy for Council s other activities. Some benefits of Council providing this activity are: a strategic focus on issues; a well planned city; preparedness for civil defence; coherent policies. Waste Management Council has an important statutory role as a catalyst for our community to minimise waste, and to appropriately dispose of what cannot be reduced, reused, recycled, or recovered. Council provides the services of collection and disposal of waste, in response to public demand for a healthy and safe environment. In recent years recycling facilities have also been provided. Council will continue to supply these services, while exploring alternative forms of service delivery. Some benefits of Council providing this activity are: a healthy city; waste minimisation; wastes disposed of; convenience; safe and controlled disposal. Stormwater Wastewater Water The community wants a City that is safe, healthy, and environmentally sustainable. This includes the provision of safe drinking water, the removal and disposal of wastewater, and protection from flooding. The community has also indicated that they want the networks and assets associated with these services to remain in public ownership. Council will continue to provide water services as it is empowered by statute to provide them and it has a clear focus on safeguarding the services for the health and well being of the community. Some benefits of Council providing this activity are: health; provision of water that is essential to life; wastes are disposed of; firefighting capacity; facilitates industry; urban growth is possible, protection from floods; a cleaner river; a sustainable environment. Assumptions This Long Term Financial Strategy covers the 10 year period from July 1999 to June In developing the LTFS a number of forecasting assumptions have been made: Population Over the past 10 years the population of Palmerston North has grown by 1% per year, while households have increased by 1.3% per year. (NZ Statistics) The Long Term Financial Strategy assumes the same rate of growth of households will occur during the next 10 years. This is consistent with that assumed by the asset management plans. Funding Policy The Long Term Financial Strategy is consistent with the Funding Policy, which in some instances transitions to the Council s desired public/private splits for sub-activities over the first three years of the Strategy. Rates and Charges per Household Measure The rates and charges per household measure is calculated by dividing total rates and charges by the total number of households in the City. This figure will not relate to the average household bill actually received as: commercial property also forms part of the rates base. individual residential rates are calculated on the basis of a mix of uniform charges and of land value based charges. the measure is exclusive of GST. 14

15 Rates To fund all the services and projects contained in the Long Term Financial Strategy, Council is proposing a rate increase (in real terms, above the rate of inflation) in the first three years of the strategy, and decreasing rates in the following years. Revenues have increased in the years 2005/07 as a direct result of the Wastewater 2006 project. In order for Council to hold rates and charges to current levels savings of $2 million annually will need to be found. To do this the Process Improvement Programme proposes a $2.5 million initial investment over three years, with savings lowering costs annually after that. Levels of Service The Long Term Financial Strategy confirms the current level of service for most Significant Activities. As a result of the Process Improvement Programme some changes in levels of service may result. Asset Management Plans Asset Management Plans will enable Council to maintain its infrastructural assets in perpetuity. The present accounting treatment uses Long Run Average Renewal Accounting. Proposed changes to accounting standards will require Council to revert to accounting for depreciation rather than using Long Run Average Renewal Accounting from 2001/02. This change is reflected in the Strategy. The difference between the depreciation and the costs associated with LRARA is not significant. The Long Term Financial Strategy assumes these plans are fully funded from 1 July Infrastructural Assets The Council will retain ownership of significant public assets, especially its infrastructural assets. The infrastructure of the City will be maintained in accordance with Council s Asset Management Plans. Awapuni Landfill Aftercare Costs Once the Awapuni Landfill closes in eight years time, there will still be costs associated with the landfill. It will have a final capping, be fenced and planted with vegetation, and generally maintained for at least 30 years. Regular leachate and gas collection, disposal and monitoring will occur. Part of the current landfill fees goes towards these costs so that the current users fully pay for their disposal costs. Future ratepayers will pay only for their own disposal costs, and will not pay for the legacy of previous ratepayers. Key Assumptions Population steadily increasing Compliance with the principles of financial management and specific borrowing limits Real Rate increases (before inflation) in the first three years, and then decreasing rates. Increases in Rates and charges due to the completion of the Wastewater 2006 project. Asset Management Plans fully funded and implemented Council will retain ownership of its infrastructural assets. The introduction of new revenues transitioned over three years No inflation is allowed for in the financial model Inflation The Long Term Financial Strategy does not include an allowance for inflation. This is to enable the figures to present actual movement in the levels of activity and not a mixture of both inflation and activity. In practice, inflation is likely to be between 0% and 3%, as intended under the Reserve Bank Act. If the level of inflation is high, then the projections made in the forecast will lose significance particularly in later years. Interest Rates The financial model used for the Long Term Financial Strategy assumes that the interest rate on deposits will be 5% and on loans 8% for the early years, then 7.5% thereafter. Debt Repayment Wherever possible, excess funds held by Council in any one year will be used to reduce debt. Only a modest amount of funds will be kept for daily cashflow purposes. Central Government Policy At the time of preparing the Long Term Financial Strategy the Central Government had still not clarified its proposal under which the roading network would be managed in a radically different way. This could have very significant effects on local authorities. It is too early to make any judgments about the future impacts that this would have on the Palmerston North City Council and therefore no attempt has been made to include any effects in the Long Term Financial Strategy. Possible Future Events Modelling for the Long Term Financial Strategy has been done on the best available information to produce a result that complies with the principles of financial management in the Local Government Act, and with the Council s specific borrowing limits in its Borrowing and Management Policy. A number of opportunities are currently being considered by Council 15

16 16 that could have a significant effect on the Long Term Financial Strategy as adopted on 28 June Sale of Civic Administration Building. The Council is considering an offer to purchase the Civic Administration Building on The Square and convert it into a hotel of international standard. The current building is far too big for existing council staff and services. The proposal is not developed enough for inclusion in the Strategy. It is projected to produce benefits over the period of the Strategy were it to be included. Wastewater Investigations of options to achieve a better solution for the disposal of wastewater are proceeding well. Should the estimates of the costs of this project be much less than the preliminary estimates the later years of the Strategy will greatly benefit from lower debt and financing costs. CentralPower Shares. Council s decision on what it will do with this investment will impact either beneficially or adversely on the Strategy. This effect was not known when the Strategy was adopted. Process Improvement. Should the Process improvement Programme produce higher savings than the projected $2 million per year, then both debt and financing costs will be lower in the later years of the Strategy. Forestry. The Strategy includes estimates of costs and sales resulting from Council s forestry assets. Timing and market conditions will alter the Strategy in its later years Risks Change Process Risks Four major areas of risk have been identified in relation to the Long Term Financial Strategy: a) Process Improvement Gains. There is uncertainty that the expenditure on the process improvement programme will, in fact, produce all the benefits anticipated. Benefits (savings) could be reapplied to new projects, or expanded current projects, or higher levels of service, rather than being realised as lowering of rates and charges. There is an upfront investment in the first two years that will contribute to the proposed real rate increases for each of those years. These are similar to those originally proposed in the adopted 1998 LTFS. b) Public Acceptability of Cost Shifting from Rates to User Charges. While there is ample justification for such a move, this does not mean there is public acceptance of the direct charges for users. c) Legislative and Regulatory Changes. The Government has already signalled that it proposes radical reform of the roading sector, as well as an in-depth review of the water and wastewater industry. The risk is that Council could embark on a change path that may be inconsistent with either current or future Government direction. On the other hand the Council cannot afford to stand still. d) Impact on the Organisation. The significant changes that are implicit in the Process Improvement Programme will challenge and change organisational values and beliefs. Organisational performance could be impacted as the staff grapple with very large changes and challenges. While these risks exist, they have been planned for to mitigate their impacts on the change process. Environment The environment can present many unforeseen conditions for the citizens of Palmerston North. As far as possible these events have been anticipated and planned for, thereby minimizing the City s exposure to such conditions. In particular the Council has planned for: Flood protection The safe and healthy supply of water The safe and healthy disposal of wastes, including hazardous wastes The prevention of contaminants from old landfill sites and factories Civil defence and emergency services protection of the City. Resource Consents The reviewed strategy has assumed that the Council will be able to obtain resource consents for a pipeline and effluent treatment area for the Wastewater 2006 Project. The process required to obtain a resource consent can be costly and time consuming. There is no guarantee that the Council will be able to obtain a resource consent within the time spans assumed in the strategy. Commercial Risks The Council is exposed to two major commercial risks within its portfolio of investments: a) CentralPower Investment. Council owns a significant shareholding in CentralPower. It is held in the form of mandatory convertible notes, which provide the Council with fixed interest income until March Throughout this term the Council may elect to convert the notes to an increasing number of ordinary shares. Otherwise they will

17 convert to fully paid ordinary shares on 31 March Changes in the electricity sector mean the Council is exposed to risks to the underlying value of this investment and to its potential income stream. The Council has also identified possible opportunities to maximise the value of this asset. The recent industry reforms have resulted in a level of unpredictability in the industry which means the council may in the future have to react quickly to preserve the value of the shareholding. Council, and its business advisors, will closely monitor the investment, consider market testing results, legislative requirements and public views before reaching a decision on what it should do with this investment. b) Forestry Investment. The Council owns a five-sixths share in the Gordon Kear Forest. Towards the end of the Long Term Financial Strategy it has been assumed that the trees will reach maturity and that logging will begin. There is a significant risk to the Council in the ownership of the forest in terms of its underlying value and future income from the logging of the forest. Commercialising the Management of infrastructural Assets (water, roading and waste management) be placed into business units (this process has already begun) to produce a number of benefits: A more direct relationship is provided between the customer and service provider that is focused on service rather than expenditure of budget. Commercial discipline (through the active management of the relationship between assets, liabilities and equities) is introduced. Price for service received is separated from cost through budget allocation. This in turn provides incentives to either reduce cost, or exit from a particular activity, or increase involvement in it. There is greater transparency of the total activity including not only its costs, but also its assets and liabilities. Business Units retain Council control of its assets. They also improve the Council s risk management of its assets by retaining institutional knowledge of those assets, and their management. Compliance with the Borrowing Management Policy As can be seen from the adjacent graphs, the Long Term Financial Strategy complies with the specific borrowing limits of the Borrowing Management Policy, except for Debt as % of Realisable Assets. 10% 7% 3% 0% 35% 23% 12% 0% 15% 10% 5% 0% years of the Strategy. (Refer to Possible Future Events on page 15.) Research has shown Palmerston North s debt to realisable assets ratio to be considerably less than the average for the Local Government sector the Long Term Financial Strategy is required to be prepared and adopted not less than once every three years Council has adopted this Long Term Financial Strategy with the intention of the next revision complying with all limits for each year of the Strategy. Debt as % of Total Assets (<10%) 1999/ / / / / / / / / /09 Debt as % of Realisable Assets (<35%) 1999/ / / / / / / / / /09 Interest Paid as % of Revenues (<15%) 1999/ / / / / / / / / /09 Interest Cover (>2) 1999/ / / / / / / / / /09 Liquidity (>1) This ratio exceeds the limit of 35% in 0.75 As the result of public consultation and obtaining more information on the risks associated with setting up LATEs, the Council will not proceed with LATEs for Water or Roading at this stage. The Long Term Financial Strategy proposes that infrastructural services the last six years of the Strategy. However, given that: the Strategy complies with all limits in its first four years Council is considering a number of opportunities which could have a significant impact on the last six / / / / / / / / / /09 34% 25% 17% 8% 0% Loan Raising as % Total Debt (<Ceiling) 1999/ / / / / / / / / /09 17

18 Funding - Where it comes from, what it is used for Revenues The graph shows that Council plans to fund most of its expenditure through either charging rates or through user charges. As far as possible these are reducing in time. Returns from the forestry investment are included. Where Funding Comes From Millions New Debt Fees & Charges & Subsdies & Interest Asset Sales & Vested Assets & Revenue for Capital The mix of rates and user charges matches the public/private benefits of Council s services contained in the Funding Policy. 20 Rates - General & UACs / / / / / / / / / /09 An amount of new loans (in years 1 to 7) and asset sales (in year 6) complete the funding mix. These are applied to major projects in the Capital Development Programme. Expense Council is in the business of providing services for the benefit of its citizens. What it is Used For 80 Debt Retirement It is appropriate, then, that the majority of its funding is spent on the provision of these services (operating expenses). This is clearly shown on the graph. Millions Capital Expenditure Operating Expenditure As the population grows and levels of service increase, operating expenses increase with time. They also increase due to the impact of higher debt / / / / / / / / / /09 In the last three years of the strategy debt is able to be repaid. 18

19 Financial Statements Council s Financial Statements show its ability to meet operating expenses from operating revenues (Statement of Financial Performance); how the Council s net resources are increasing over time (Statement of Movements in Equity); what Council owns and owes (Statement of Financial Position); the turnover of cash experienced by Council each year (Statement of Cash Flows); Council s ten year capital expenditure requirements (Statement of Capital Development Programme); Council s ten year borrowing requirements (Statement of Borrowing Requirements); and, the changes in Council s reserves held (Statement of Movements in Reserves). Statement of Financial Performance Forecast Forecast Forecast 1999/ / / / / / / / / /09 $000 $000 $000 $000 $000 $000 $000 $000 $000 $000 Revenue Rates Income 34,062 34,350 35,130 35,040 34,920 34,810 36,770 39,070 39,570 40,090 Interest Income 3,289 3,489 2, Dividend Income ,500 3,500 3,500 3,500 3,500 3,500 3,500 Water Charges 1,490 2,250 2,490 2,520 2,560 2,590 2,990 3,400 3,450 3,490 Other Income 14,576 15,588 14,904 15,156 17,348 16,928 18,097 19,443 18,830 16,556 53,467 55,727 56,177 56,367 58,480 57,980 61,509 65,588 65,547 63,832 Costs of Operations Operating Costs 40,442 40,835 41,311 40,745 41,515 42,108 43,296 45,718 46,011 45,666 Interest Expense 3,629 4,237 4,745 5,221 5,395 5,751 6,304 6,697 6,464 6,303 Loss of Service Potential 5,347 6,189 Depreciation 4,154 4,224 9,477 9,677 9,897 10,107 10,317 10,527 10,657 10,797 53,572 55,485 55,533 55,643 56,807 57,966 59,917 62,942 63,132 62,766 Operating Surplus (Deficit) (105) , ,592 2,646 2,415 1,066 Special Revenues , ,852 3,142 Assets Vested in Council 1,500 1,500 1,500 1,500 1,500 1,500 1,500 1,500 1,500 1,500 NET SURPLUS (DEFICIT) 2,036 2,644 3,116 4,716 4,165 2,506 4,084 5,138 5,767 5,708 This shows Council s ability to meet operating expenses from operating revenues. The operating surplus in the last three years of the strategy enables the repayment of debt. Interest costs can be seen to increase each year as new loans are taken, and then drop in the last two years after debt is repaid. Depreciation does not include the infrastructural assets (roads, pipe networks, landfills) in the first two years as the loss of service potential is calculated using LRARA. Thereafter normal depreciation applies. Special Revenues reflects income and community fundraising designated for capital developments (Transfund, grants, community fundraising, and District Plan financial contributions). The profit or loss on the sale of assets is also included. Assets Vested in Council is a non-cash item, where the value of roading and services from subdivisions are vested in the Council. Statement of Movements in Equity Forecast Forecast Forecast 1999/ / / / / / / / / /09 $000 $000 $000 $000 $000 $000 $000 $000 $000 $000 Opening Balance 863, , , , , , , , , ,294 Period Profit/Loss 2,036 2,644 3,116 4,716 4,165 2,506 4,084 5,138 5,767 5,708 CLOSING BALANCE 865, , , , , , , , , ,002 19

20 Statement of Financial Position Forecast Forecast Forecast Forecast 1998/ / / / / / / / / / /09 $000 $000 $000 $000 $000 $000 $000 $000 $000 $000 $000 Current Assets Cash 3,268 3,087 3,089 3,040 3,015 3,052 3,032 3,058 3,952 3,924 3,912 Debtors,Accruals,Inventory 4,229 5,329 5,329 5,329 5,329 5,329 5,329 5,329 5,329 5,329 5,329 7,497 8,416 8,418 8,369 8,344 8,381 8,361 8,387 9,281 9,253 9,241 Investments 55,154 55,154 55,154 55,154 55,154 55,154 55,154 55,154 55,154 55,154 55,154 Fixed Assets 849, , , , , , , , , , ,688 Total assets 912, , , , , , , , , , ,083 Current Liabilities Bank Overdraft Creditors, Accruals,Deposits - 7,802-7,302-7,302-7,302-7,302-7,302-7,302-7,302-7,302-7,302-7,302 Current Portion Term Debt 2,808 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 10,610 8,302 8,302 8,302 8,302 8,302 8,302 8,302 8,302 8,302 8,302 Term Debt 38,151 48,759 55,159 61,459 67,059 74,809 76,559 89,539 87,039 83,339 82,739 Landfill Aftercare Liability ,000 1,250 1,500 1,750 2,000 2,250 2,180 2,110 2,040 Public Equity 863, , , , , , , , , , ,002 Total Liabilities/Reserves 912, , , , , , , , , , ,083 This shows what Council owns and owes. Investments is the value of Council s shares in its companies and in CentralPower. These are included at cost. Bank Overdraft. Council s policy is to manage its cash balances so that it can pay for its commitments when they fall due, and to only utilize its overdraft facility to cope with unusual short-term cashflow requirements. Public Equity is the net worth of the Council s assets less its liabilities. It includes reserves set aside: from development levies; for loan redemption; and, from asset reevaluations. Statement of Cash Flows Forecast Forecast Forecast 1999/ / / / / / / / / /09 Operating Activities Cash Provided Rates $000 34,062 $000 34,350 $000 35,130 $000 35,040 $000 34,920 $000 34,810 $000 36,770 $000 39,070 $000 39,570 $000 40,090 Interest 3,289 3,489 2, Dividends ,500 3,500 3,500 3,500 3,500 3,500 3,500 Other Sources 15,607 18,740 18,366 20,168 20,900 20,510 22,079 23,835 24,132 23,188 Cash Disbursed Interest Paid (3,629) (4,237) (4,745) (5,221) (5,395) (5,751) (6,304) (6,697) (6,464) (6,303) Other Payments (40,692) (40,585) (41,061) (40,495) (41,265) (41,858) (43,046) (45,788) (46,081) (45,736) 8,687 11,807 11,343 13,143 12,812 11,363 13,151 14,095 14,854 14,935 Investing Activities From Asset Sales , Capital Development (12,409) (12,877) (12,585) (13,702) (15,580) (13,955) (21,370) (5,630) (6,450) (9,615) Renewals Programme (5,584) (5,613) (5,447) (5,376) (5,220) (4,958) (5,015) (5,351) (5,012) (5,012) (17,668) (18,205) (17,692) (18,768) (20,525) (13,133) (26,105) (10,701) (11,182) (14,347) Financing Activities New Loans Required 8,800 6,400 6,300 5,600 8,700 2,300 13, Refinanced Loans 5,000 7,000 5,300 7,400 8,500 13,400 8,100 21,100 14,000 16,600 Debt Repaid (5,000) (7,000) (5,300) (7,400) (9,450) (13,950) (8,520) (23,600) (17,700) (17,200) 8,800 6,400 6,300 5,600 7,750 1,750 12,980 (2,500) (3,700) (600) Net Increase (181) 2 (49) (25) 37 (20) (28) (12) Cash at begining 3,268 3,087 3,089 3,040 3,015 3,052 3,032 3,058 3,952 3,924 CASH AT YEAR END 3,087 3,089 3,040 3,015 3,052 3,032 3,058 3,952 3,924 3,912 20

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