A reduction in the value of water, wastewater and stormwater assets owned by the Waitaki District Council is actually good news for ratepayers.
In the latest revaluation, the value has fallen from $196 million to $189 million, mainly because of a reduction in maintenance and renewal costs.
As a result, ratepayers would pay about $700,000 a year less in depreciation on the schemes, water and wastewater asset manager Martin Pacey said.
It will take effect next financial year.
The water, wastewater and stormwater assets, which range from water schemes to sewage treatment plants, are revalued every three years.
The water, wastewater and stormwater asset value had fallen for a number of reasons, including:
• Staff finding ways to reduce costs.
• Greater investment in modern asset management.
• Better procurement practices.
• Using specialist advice.
Mr Pacey said one of the biggest contributors to the fall had been work on asset management over the past decade, which had helped to identify and extend the life of the assets - for example being able to extend the life of pipes, which spread the cost of replacement over more years.
