The council had planned to complete $86 million of capital projects in the year ending June 2026.
However, a report to the council's finance and performance committee showed it had only spent $26.1m of this budget by the end of February.
It’s the result of several major projects being delayed or deferred, including the new district park in Rolleston and Leeston’s library and community centre Whata Rau.
Head of capital works and capital David Spriggs said the council's budget has been revised after $4.7m of savings were identified.
Delivering 67% of capital projects would be "very challenging", he said.
"Being realistic, it is going to come in lower than that."
Mayor Lydia Gliddon said a lower delivery forecast “isn’t a failure” as there was good news from the savings being made.
Gliddon said it was better to deliver good projects within budget.
"Rather than try and rush and push things to hit a target number or percentage of spend.”
“Some of the delays are actually due to us wanting, as a new council, to slow some things down and have a good understanding of where we are at”.
The council was also focused on being realistic about what can be delivered in the annual plan and long-term plan processes, Gliddon said.
She said it also “doesn't actually tell the true story of the amount of projects delivered for our community.”
One big project that is behind schedule is the $9.8m Lincoln Town Centre upgrade stage 1, which was to be completed in July but has been pushed back to the end of September.
Procurement planning is underway for Stages 2 and 3 with a report expected at the next council meeting to approve going out to tender.
Gliddon said that as capital works are loan-funded, the work not going ahead reduces the level of borrowing.
By the end of February, council borrowing was at $300m, a $5m increase since June 2025, but it is $58.1m under budget.
On top of the reduced capital expenditure, there has been higher than forecast development contributions - which are payments made to help fund infrastructure for new developments.
The council has collected $14.4m development contributions to the end of February, $6.5m more than was expected,
That takes the development contributions balance to $62.4m, $2.5m above the full year’s budget.
Deputy Mayor Brendan Shefford, who owns Selwyn’s largest locally owned and operated real estate company, thanked developers for supporting Selwyn and "keeping the revenue coming in".
Cr Denise Carrick responded by thanking the ratepayers “for supporting the developers and paying the shortfall in what is covered by them”.
Council’s net operating surplus to the end of February was $56.7m, $27.7m higher than the budget.
Revenue was also higher than expected, at $139.1m against a budget of $132.7m.
However, ratepayers were overcharged $4.7m and correcting that will be factored in by the end of June.
- By Jonathan Leask, Local Democracy Reporter
