Financial results
Financial performance
Total Income for the year was $525,000 above budget due to contributions being $283,000 higher than budgeted as a result of the revaluation at June 2010 and unbudgeted forestry sales of $223,000.
Total Expenses were $802,000 less than budget largely due $744,000 less interest being incurred. This was as a result of the payments for large projects being lower than expected and being made later than originally planned.
Full financial results can be found in the Annual Report 2010/11.
Capital expenditure
| Renewal Plan ($,000) | Budget | Actual | Comments |
|---|---|---|---|
| Miscellaneous | 20 | 0 | Scada implementation delayed |
| Pump Stations and Rising Mains | 157 | 17 | Replacement of VSD at Beach Road. Condition assessment of Dezurik valves showed that their life can be extended. |
| Solids Handling | 142 | 0 | Considering the uncertainty with the improvements of the sludge treatment the condition of the A-train blowers were assessed and it was decided to defer the renewal to a date after the changes to the solid waste processing has been considered. |
| Total = | 319 | 17 |
| Upgrade Plan ($,000) | Budget | Actual | Comments |
|---|---|---|---|
| New R/M and P/S Richmond to Bell Island |
19,500 | 4,616 | The contract was let in November 2011. the budget allowed for the possibility of using trenchless technology. Total cost of project estimated at less than $13mil. |
| Primary Clarifier |
345 | 142 | Small components of the project still in process. |
| Outfall Capacity Upgrade |
500 | 419 | Delay in cut due to high pond levels. Expected completion date August 2011 |
| Forest Bell Island |
20 | 10 | Remainder of work in July 2011 |
| Resource consent |
15 | 0 |
|
| Total = | 8,028 | 5,269 |
