Thank you for using Neighbourly
A Hamilton barista has been named the best in the country after competing at a national championship…
m.facebook.com...
Hi all. My names Natalie and I've recently been diagnosed pre diabetic.
I'm looking for people in my area to get on the fitness bandwagon and get out and do stuff. I'm not much of a do it alone kinda person.
I'm also looking for people with pre diabetes or… View morem.facebook.com...
Hi all. My names Natalie and I've recently been diagnosed pre diabetic.
I'm looking for people in my area to get on the fitness bandwagon and get out and do stuff. I'm not much of a do it alone kinda person.
I'm also looking for people with pre diabetes or diabetes to help or give some information.
I've made a Facebook page with my journey for you to follow if you wish. Post some tips or tricks.
I want to beat this before it gets worse, and I'd love to help others too.
Tell us more about what you look forward to reading each week.
Afghan soldiers who fought shoulder to shoulder with New Zealand troops against insurgents in a deadly battle have spoken for the first time and described what really went on.
The soldiers were in the Battle of Baghak in August 2012 when two New Zealanders and four Afghans died, but were never … View moreAfghan soldiers who fought shoulder to shoulder with New Zealand troops against insurgents in a deadly battle have spoken for the first time and described what really went on.
The soldiers were in the Battle of Baghak in August 2012 when two New Zealanders and four Afghans died, but were never interviewed as part of the Court of Inquiry carried out by the New Zealand Defence Force.
Hello Neighbours
I have nearly 50 to 60 Empty Banana boxes available from 28/08/17.First come first serve.Txt me if interested 0210396145.Still 20 Left ,if interested come and pick otherwise going to recycle.
Thanks
Follow us on facebook
A 16-year-old has worked his way to a number one ranking for powerlifting in the Waikato. St John's…
Whether it's having a reliable morning routine, a repertoire with customers, or a favourite radio st…
A Waikato mum-of-eight has qualified for the Natural Universe bodybuilding championships. Running o…
Exciting news. WEL Networks has launched an activity book teaching kids how to stay safe around power.
The activity books are free, fun to use with colouring pages, word finds and more - aimed at 4-9 year olds.
Want a copy? They're available at Mooloo rugby games, at our reception or if you… View moreExciting news. WEL Networks has launched an activity book teaching kids how to stay safe around power.
The activity books are free, fun to use with colouring pages, word finds and more - aimed at 4-9 year olds.
Want a copy? They're available at Mooloo rugby games, at our reception or if you work with kids and would like copies of this resource email communication@wel.co.nz
For the first time in close to a decade, Hillcrest High School represented at a kapa haka competitio…
Hi, Can anyone recommend an electrician happy to do a small job at a reasonable rate. I need an outdoor security light replaced. On Grandview Road. 0220964508 or 8475078. Thanks so much!
As per photos, have just washed cover. Well used but still a good seat. Suitable as a spare booster. $10
As per pictures. 4 x lights, bulbs in boxes included. Surplus from a renovation. $60 for all 4. Pick up Whatawhata or can deliver Dinsdale/central Hamilton.
An Updated ratepayer’s summation of the city’s financial woes
.
Hamilton City Council borrows $4 million per year to fund the day to day running of the city. It was identified in March 2017 that there was a $12.1 million hole in the city finances requiring a 11.7-12% rate rise to stem the … View moreAn Updated ratepayer’s summation of the city’s financial woes
.
Hamilton City Council borrows $4 million per year to fund the day to day running of the city. It was identified in March 2017 that there was a $12.1 million hole in the city finances requiring a 11.7-12% rate rise to stem the ‘bleeding’. This was confirmed by the Financial Strategy Assessment Report from PricewaterhouseCoopers in July 2017.
Council voted against the 9% amendment and the original motion to increase rates by 12%. The annual 3.8% rate rise introduced in 2012 will remain. Therefore the hole in the day to day running of the city will increase to $16 million next year (2018/19) exacerbating the issue of how to address/fund the shortfall.
Hamilton City Council has $3.2 billion of assets, some falling into disrepair e.g. losing $2-$3 million dollars of water a month through leaks in the infrastructure. Council also incurs annual losses of:
a. $10 million loss on Claudelands,
b. $3 million loss on FMG Waikato Stadium,
c. $3 million loss on the Zoo, and
d. $2 million loss on Seddon Park
Disposal of these losses alone would address (and then some) the $12.1 million shortfall in the day to day operation of the city and prevent an 11.7% - 12% rate rise.
The 2015 Asset Management Plan (AMPs) estimated $1,014 million of capital works is required by 2025. In addition the Waikato Regional Council’s Healthy Rivers Plan for Change imposes replacement cost of $274.6 million for wastewater treatment over the period 2016-45 with annual operating cost of $9.2 million and does not account for future population growth.
Finance (Interest) Cost(s)
2017/2018 Annual Plan
There was much joy and jubilation when Hamilton received approval of $272 million interest free from the Government $1 billion infrastructure fund to fund development of Peacockes. The current debt is $348 million; finance (interest) cost is $21,819,000 (nearly $22 million per year), with a debt to Revenue ratio of 165% or 205% (165% as at 30 Jul 17 – 205% Annual Plan figure). The uplift of $188 million from the Housing Infrastructure Fund (HIF) will push the debt to $536 million with additional cost of $18.8 million per year to pay back the $188 million HIF, takes the annual finance (interest + HIF repayments) cost to $41.019 million and pushes the interest + repayments cost-to-total-revenue to credit card rates of 19.22%, and a debt to revenue ratio of 253.66%. Local Government Funding Authority’s maximum debt to revenue ratio is 250%. To allow headroom for civil emergencies and unplanned events Council considers that a prudent limit is 230%.
Current Finance Cost (Interest) $21,819,000
Plus
Infrastructure Fund Payments $18,800,000
Total Interest + HIF Loan Repayment $40,619,000 per year
Broken down Council (Ratepayers) have to fund/find
Monthly (12) $3,384,916.67
Weekly (52) $781,134.62
Daily (365) $111,284.93 to pay the interest + HIF Loan Repayments.
As well as run the daily operation of the city and fund depreciation of the $272 million of infrastructure at Peacockes. All of this takes no account of 24 Unfunded Plans & Strategies, the 3 largest plans include:
a. Biking Plan ($52m) - Various projects from 2018/19 to 2023/24 to transform Hamilton into a bike-friendly city. Examples of projects include: University route, Widening of the Hamilton river path and State Highway 3 cycle way.
b. Central City Transformation Plan ($39m) - Projects mostly from 2018/19 to 2021/22 to revitalise the central city. Examples include: Upgrade Garden Place, extension of shared zone down Alexandra Street and completing the Collingwood Land redevelopment.
c. Ferrybank Development Plan ($42m) - Capex in 2018/19 and 2023/24 to enable commercial, hospitality and retail development with connections to the central city and the river.
Not to mention:
a. $13.3 million at ‘Waterworld’ www.stuff.co.nz...
b. $15.7 million for the Zoo Plan,
c. $34.5 million on Founders Theatre, www.stuff.co.nz... and
d. other ‘Dreams are Free’ Plans/Projects proposed by Council.
Ratepayers objected to the recent “Free” parking proposal; the majority of submitters (82%) opposed but Council went against their wishes and will implement "Free" parking in October 2017 with the consequential loss of revenue of $650,000 Oct 17 Jun 18 then $1 million per year. Imagine the reaction when they receive their rates to fund $40,619,000 of interest and + HIF repayments and that does not include the day to day operation of the city or the renewal of the ‘clap out’ infrastructure plus any other ‘Dreams are Free’ plan(s)
In the interim there should be no debate or further work on the aspirational 24 unfunded plans. It will take a brave council with some testicular fortitude to curtail the wants and concentrate on the needs of the city. It is believed that the majority do not have the required ability to debate the issue nor the intestinal fortitude to make a decision to address the shortfall and future known costs in the best interests of the ratepayer and the city.
It is believed that council will take the easy option and will impose the cost onto the ratepayer, rating some out of their home.
© Neighbourly 2025
Loading…