Thames Coromandel District Council have released its 2013/2014 Annual Report, which is now available for public viewing.

Highlights include 81 per cent of service performance targets have been met, operating expenses are under budget by $3 million and external debt of $45.4m is well under council's total debt cap of $85.3m.

The Thames Coromandel District Council 2013/2014 Annual Report is now available. Photo: TCDC

Mayor Glenn Leach says for the third consecutive year, the council has improved its service performance, with 13 activities achieving 100 per cent of their performance measures

Glen says: 'Other expenses were less than budgeted, in the order of $3 million, and these operational savings helped us maintain the lowest operational costs per rateable property of any council in the Waikato.

'Clearly this helps our marketing of the Coromandel as not just a great place to live and work, but a cost effective one also.”

Glenn says the June storm event was also notable for the amount of damage caused to both infrastructure and private land around the Coromandel.

'Council learned valuable lessons to improve its emergency response and these have already paid dividends in preparing and responding to subsequent storm events,” he adds.

The report says as of June 30, 2014, net assets and total equity was $1,228,937 and TCDC's total comprehensive income for the year was $10,753.

Total revenue for the year came in at just over $75k, but total operating expenditure was a little under $76.8k, which created a deficit of approximately $1,644.

The three largest areas of expenditure were roads and foot paths (18 per cent), wastewater (17 per cent) and community spaces (13 per cent).

Total operating expenditure, taken from TCDC's 2013/2014 Annual Report.

Rates also rose by 1.89 per cent for existing ratepayers and just made it under the 1.9 per cent limit as set by council in the 2013/14 financial year.

Council's borrowing costs sat at 4.1 per cent of revenue and was well below council's aim of keeping costs equal or less than 10 per cent of its revenue.

Glenn says council continues to drive the improvement programme established last year around management of capital projects.

But they have 'put the brakes” on capital investment programme while council addresses its investment decision-making systems.

'During the year we have changed how we initiate capital projects to ensure that each project is desirable, viable and achievable making the process more robust,” explains Glen.

'These improvements will provide better confidence in both the level of investment proposed and in actual project delivery.”

This year TCDC disposed of $3.9m of capital works and a substantial portion of that amount relates to decommissioning charges incurred by the Pauanui Wastewater Treatment Plant.

Other highlights of the report include:

• Personnel costs increased to budget by $0.6m.
• Redundancy payments were $0.1 million over budget.
• A 3.3 per cent salary increase resulted from a budget increase of $0.1m
• Fees, charges and targeted rates for water supply decreased $0.9 million to budget.
• Building consent applications rose by nine per cent

Glenn thanks all of TCDC's elected members and staff for their effort and contribution throughout 2013/14.

'It has been another big year for us all with fantastic outcomes for our communities,” he says.

To read the Thames Coromandel District Council's 2013/2014 Annual Report click here.

Performance overview, taken from TCDC's 2013/2014 Annual Report.