Taupo District Council annual report now available to the public

Council’s Balance Sheet presents a very healthy picture, reflecting a growing District investing in its infrastructure.

Financial Accounting Manager Ken Morris says, “for the first time our Balance Sheet shows ratepayer equity in excess of $1 billion, this result achieved principally by revaluation gains on land and building assets.”

In regard to the financial results the report shows an operating surplus in excess of expectations. Mr Morris says this is primarily due to a number of non-cash items such as infrastructure vested by developers and profits earned from Council subdivisions being recognised in the Income Statement.

Taupo District Council’s 2006/07 Annual Report is available to the public and Council is encouraging ratepayers and other interested persons in the community to obtain a copy.

The Annual Report is a key accountability document reporting Council’s performance over the past year. It includes Council’s financial statements which report the financial results for the year and the financial position of Council at 30 June 2007.

It also includes reports of Council’s service performance and of Council’s achievement, or otherwise, of targets that it set itself for year one of its Long Term Council Community Plan.

Mr Morris says that ratepayers in reading the report can gain a very good insight into what Council has been achieving in its various activity areas, and with key projects. He points readers to the activity story boxes printed throughout the report, and the Chief Executive’s report in the early pages of the document, for this.

The Annual Report is available in a 20-page summary form, as well as the full form. The summary report is the document being made widely available as it is much more concise and readable than the full document.
The Summary Annual Report, which pulls out key points from the full report is available from all Council offices and libraries. It will also be accessible on Council’s www.taupo.govt.nz website. The full Annual Report will also be available on the website, or by request in hard-copy form.

The financial reports contained in the Annual Report are compliant with the new International Financial Reporting Standards.