Federated Farmers Submission for Thames Coromandel District Council Long Term Plan
It is positive that Council has included information on the use of reserves and especially the Power New Zealand reserve in the Consultation Document.
In Federated Farmers view the most positive way funds from community assets can be used to support the community is by subsidizing rates. Using the reserve to offset the UAGC ensures an equalized benefit across the district, and we support this.
While this year’s rate increase is 5.17% across the district, the life of the Plan shows a relatively restrained average below 3.0% and Council should be commended for this.
This Long Term Plan offers farmers some certainty as to their future rates levels, and it is good that this issue is dealt with upfront in the Consultation Document.
As a district challenged by high visitor numbers each year, we have found the financial strategy to be realistic with a transparent summary of capital and operational expenditure and debt. We support the transparent setting of a limit on rates, to not exceed 80% of operating revenue and the stated aim of reducing external debt to $4m by 2028.
For more, see the full submission