Tuesday, May 28, 2024

Waipā chalks up pandemic surplus

Waipā District Council has demonstrated its resilience in the face of COVID-19, with an end-of-year operating surplus of $39.6 million.

“We’re fortunate that Waipā was not impacted by the COVID-19 pandemic to the extent we were initially forecasting. The rapid growth in our district has continued and the diversity of our economy has been a huge benefit,” said Waipā District Council deputy Chief Executive, Ken Morris.

Growth-related infrastructure and cash contributions of nearly $32 million were paid for by developers participating in the local building boom – accounting for 80% of the $39.6 million operating surplus.

Construction activity continued with gusto during the pandemic, with Council issuing 1,459 building consents with a capital value of $456 million.

The district’s primary sector remained strong with an expected increase of $40 million paid out to farmers. Solid employment growth over the year to March 2021 led to a 1.5% increase in the number of filled positions, buoyed by the construction market. Unemployment in Waipā is at 3.1%, lower than the rest of the Waikato at 4.1% and the New Zealand unemployment rate of 4.7%.

The Annual Report shows that Council achieved 73% of its planned non-financial targets and a highlight of the year was the May 2021 opening of the new Cambridge Pool facility, the Perry Aquatic Centre – Puna Kaukau O Te Oko Horoi.

Despite seeing challenges ahead with an ambitious infrastructure programme in the 2021-31 Long Term Plan and the major reform agenda facing local government, Mr Morris said he remains confident that the infrastructure investment can be funded as benchmarking statistics in the report show there is plenty of scope for future borrowing.

“The value of our assets is nearly $2 billion. Our current borrowing of $98 million is small relative to many other councils so we are well-placed financially to meet our future obligations. We have the capacity to respond to growth and continue progress in making our community an attractive place to live, work and play,” he said.

Mayor Jim Mylchreest said people from other regions were noticing the district as a desirable location.

“Our population grew by 2.7% last year as more people call Waipā their new home.”

“We offer an attractive lifestyle that is just a stone’s throw to Auckland, Ruapehu and the great outdoors of the central plateau. People love our thriving community spirit, laid back vibe and boutique townships brimming with character,” said Mayor Mylchreest.

The annual report was adopted by council members last week and will be uploaded onto the Waipā District Council website here today.

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