Finances better than predicted by $3.9m

Invercargill city councillors spent a sunny afternoon inside chambers yesterday approving the latest annual report.

Finance interim group manager Dave Foster said, "What we've got here is a good result."

He said they had anticipated to run at an operating loss of $2.75million - "our actual result was a positive result of $1.17million. That's a turnaround of $3.9million positive."

He suggested councillors not get too comfortable with that result, "we're in a really robust financial ... but don't get soft".

Councillors also set their remuneration.

After some discussion, option three of six was approved - "This option suggests $7225 being equally distributed between councillors only. This is a 30% premium paid to the chairperson position," which is additional to the base of $34,155.

Invercargill Mayor Sir Tim Shadbolt's pay was set an annual $140,000 by the Remuneration Authority.

Other items in the meeting's agenda included councillors retroactively approving and endorsing the response to Central Government's discussion paper Action for Healthy Waterways.

This submission, on behalf on ICC, in summary supported the aim of improvement of quality of ecosystem health but suggested a "targeted approach devised to address the best impact towards improvements be applied".

It also stated financial support would need to come from Central Government to augment local or private funding, and "broaches those aspects that could adversely affect this council's water, wastewater and stormwater operations."


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