Today I chaired our last Finance and Performance Committee meeting for the term, and what a challenging term it has been.
In my final words I noted that over the past three years, we have put in over 268 hours of workshops and 118 hours of meetings, making key decisions on all things finance.
We have had to respond to the challenges associated with an international pandemic and the consequences of subsequent lockdowns, one of the most significant droughts in Auckland’s history, the urgent need for climate action, rampant inflation, and increased interest rates . We have also had to adjust to working on our own from home, making decisions on online platforms for months at a time.
Throughout, we have continued to focus on financial prudence and providing value for money to Aucklanders, the people we represent.
Having said that though, I first acknowledged Team Auckland ( that’s local board members and councillors)
I genuinely thank you for joining us through many hours of discussion at workshops and coming willingly to the table to help us navigate significant challenges. I speak for all my colleagues when I express our collective gratitude to you all for your contributions over the past three years – it has been invaluable.
We all know council isn’t perfect, however I’d like to take this opportunity to highlight some of our achievements:
· We’ve produced not three, but four budgets to adjust to the financial pressures that came our way and still managed to stimulate economic recovery.
· Our decision making has always reflected the majority of feedback we’ve received from Aucklanders through consultation.
· We’ve delivered capital investment programmes of more than $6 billion.
· Council has made savings of $2.4 billion to date, achieving operational savings and efficiency achievements in excess of $260 million).
· We’ve achieved group procurement savings of just under $150 million.
· We’ve raised $2 billion in green bonds – the first organisation in New Zealand to raise money this way.
· We’ve saved in excess of $12m in IT services and acknowledge the role Mark Denvir had in this – thank you and RIP Mark.
· Our value for money achievements have totalled in excess of $528 million this term.
· We’ve been able to widely use debt to fund growth, while keeping our debt-debt-to-revenue ratio well within the group’s 290 per cent policy limit. Noting our debt is currently 16% of our assets and now well below pre covid levels of 270.
· As for our rates, we have never had the highest average general percentage increase of any council in NZ – Currently we are 4th (after Tauranga, Wellington and Dunedin).
· We’ve maintained investor confidence as reflected in our credit ratings with S&P Global Ratings and Moody’s Investor Services of AA and Aa2 respectively, both with a “stable” outlook.
I am sure there’s plenty more I could mention like record delivery of infrastructure programmes across Auckland in response to the growth of our city’s population, or our focus on climate action and environmental protection. There’s a lot to reflect on, and a lot to be proud of as you know.
Finally, I want to wish you all the best for the weeks ahead and hope we see each other again soon.
In the spirit of this week’s Maori Language week - Te Wiki O Te Reo Māori, I will sign-off with an apt whakataukī (proverb).
Mā mua ka kite a muri, mā muri ka ora a mua - those who lead give sight to those who follow, those who follow give life to those who lead.
Desley