Continuing growth in Selwyn
by Anonymous Author
Selwyn District Council’s just released annual report has highlighted the district’s continuing growth and development.
The report, for the 2016-17 year, noted that Selwyn’s population is now estimated to be 56,000 with growth expected to continue in the coming years.
It showed revenue for the year was $169.8 million compared with the budget of $120.9 million, largely due to growth being ahead of forecasts.
Mayor Sam Broughton said council is supporting this growth with investment in services, infrastructure and community activities across the district.
“Selwyn people value the quality of life they enjoy here,” Mayor Broughton said.
“As a council we are working hard to protect and maintain that and help residents and businesses make the most of the opportunities our district offers.”
He said overall council’s financial position remained sound.
Expenditure for the year was $105 million compared with the budget of $94.6 million.
“The main variances included finance costs being below budget due to reduced borrowing, the unbudgeted costs associated with the Port Hills fire, and higher cost of sales from Izone land sales being well ahead of budget.”
Building activity has remained strong with 2,527 building consents issued during the year, to a total value of over $600 million.
“This reflects the ongoing development of residential subdivisions in townships, along with new businesses and the opening of two new schools,” Mayor Broughton said.
The Annual Report showed the impact of the Port Hills fires in February, with the total rural firefighting costs to the council calculated at $7.9 million. The majority of the costs ($7.4 million) were covered through insurance with the Rural Fire Fighting Fund.
Council received higher dividend revenue from investments in Orion New Zealand Limited and Transwaste Canterbury Limited, while land sales revenue was also above budget due to sales in Izone being ahead of forecasts.
The report also showed the value of the council’s net assets increased by $110 million to a total value of $1.503 billion.