Faulkner's Rambling's (Faulkner's Corner) Friday 19 November, two sections are quite misleading and grossly inaccurate. Cr Faulkner states in the section 'Well Managed Money” that 1% of rates take was equal to $900,000. If you worked on his math 100% would equal $90,000,000 but he states 'Council collected $81.9 million in rates”. That is a massive rounding up Bill and your rate figure is from 2009-2010, not this year.
The figure of 'net debt is $310 million” is not correct either, as of August 2010, refer monitoring meeting in September the figure was $329,500,000. By the end of this financial year 30 June 2011 council will be in debt to the tune of $370,000,000 that's why Bill and Mayor Crosby Mayoral candidates will not be able to reduce rates much below 17.8% as in the 10 year plan.
They have spent way more than you pay in rates. This clearly 1 0 1 banking, being a self proclaimed Big Banker surely you were not away that day in economic studies.
'Plans for Route K” have been on the books for some time to hand over to NZTA.
As all the councillors know NZTA this year knocked the council back as they said they would not take it over until it makes a profit. That is why Bill voted to increase the tolls to $2. Why at the point it makes a profit, do we need to get rid of it. This is not prudent financial thinking.
The council only has one thing that makes a profit, and that is not the airport as it spends it as fast as it makes it. It is the Mount Hot Pools, and you Bill voted for the $7,500,000 wellness centre (Massage Parlour, Seaweed Wraps) that will make a loss like all the other projects that you have been involved in, for example, Bay Park with a $1,645,000 loss this year.
Hayden Evans, Tauranga.