2011-2012_annual_plan_section_5

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					Financial Management
Prospective Statement of Financial Position

      LTCCP                                                             Annual Plan         LTCCP




                                                                                                              Introduction
     2010/11                                                             2011/12            2011/12
     ($,000)                                                              ($,000)           ($,000)


                       ASSETS


               2,781   Cash and cash equivalents                                    2,781             2,781




                                                                                                              Council Activities
               8,592   Trade and other receivables                                  8,758             8,849
                755    Inventories                                                    778              778
                285    Other financial assets - current                               285              285
              12,413   Current assets                                           12,601              12,693

          600,612      Property, plant and equipment assets                    601,583           605,782
                 11    Intangible Assets                                               11               11
               3,144   Forestry assets                                                971             3,197




                                                                                                              Organisations
              27,372   Investment property                                      28,124              25,912




                                                                                                                Controlled
              49,343   Other financial assets                                   45,535              51,785




                                                                                                                  Council
          680,482      Non-current assets                                      676,223           686,687

          692,896      TOTAL ASSETS                                            688,824           699,380

                       LIABILITIES




                                                                                                              Fees & Charges
               8,674   Trade and other payables                                     9,064             9,064
                189    Provisions - Current portion                                   146              146
               2,382   Employee benefit liabilities - current portion               2,308             2,453
              11,344   Borrowings - Current Portion                                 2,294             2,294
              22,589   Current liabilities                                      13,812              13,957

                       Employee benefit liabilities - Non current
                779    portion                                                        755              803
                                                                                                              Management

              37,817   Borrowings - non current portion                         49,510              46,067
                                                                                                                Financial

                804    Provisions - non current portion                               706              706

              39,400   Non-current liabilities                                  50,971              47,576

           61,989      TOTAL LIABILITIES                                        64,783            61,533

                       EQUITY
          398,066      Retained earnings                                       395,686           403,760
              23,405   Restricted reserves                                      18,933              24,651
                241    Hedging Reserve                                                241              241
          209,195      Asset revaluation reserves                              209,181           209,195
          630,907      TOTAL EQUITY                                            624,041           637,847


          692,896      TOTAL LIABILITIES AND EQUITY                            688,824           699,380


                                                                                                              123
                                                                                                              123
      Prospective Statement of Comprehensive Income


           LTCCP                                                           Annual Plan         LTCCP
           2010/11                                                          2011/12            2011/12
           ($,000)                                                           ($,000)           ($,000)


                             Revenue
                   42,393    Rates revenue                                         42,689              43,757
                   30,869    Other revenue                                         32,881              32,197
                         0   Gain on sale of assets                                        0             9,007
                       849   Property Revaluations - Gain/(loss)                         778               755
                       867   Finance income                                              946             1,038
                   74,979                                                          77,293              86,754

                             Expenditure
                   19,031    Employee benefit expenses                             19,031              19,692
                   15,883    Depreciation and amortisation                         19,170              16,932
                   34,222    Other expenses                                        38,816              39,195
                     3,096   Finance expenses                                          3,760             3,993
                   72,233                                                          80,777              79,812

                     2,746   Operating surplus/(deficit)                          (3,484)                6,942

                             Other Comprehensive Income
                   17,457    Property Plant and Equipment Revaluations                     0                 0
                             - Gain/(loss)
                         0   Less Taxation Expense                                         0                 0

                 20,203      Total Comprehensive Income after Taxation            (3,484)                6,942

                             Reconciliation of total comprehensive
                             income to cost of service statements

                   42,393    Rates                                                 42,689              43,757
                   31,737    Other Income                                          33,827              33,235
                         0   Gain on sale of assets                                        0             9,007
                       849   Investment Property Revaluations                            778               755
                   74,979    Total income per cost of service statements           77,293              86,754
                             Add Property Plant and Equipment
                   17,457    Revaluations                                                  0                 0
                   92,436    Total Comprehensive Income                            77,293              86,754




124
Prospective Statement of Changes in Equity




                                                                                                          Introduction
      LTCCP                                                         Annual Plan         LTCCP
     2010/11                                                         2011/12            2011/12
     ($,000)                                                          ($,000)           ($,000)



          610,704      Equity Balance at 1 July                            627,525           630,907




                                                                                                          Council Activities
              20,203   Total Comprehensive Income after Taxation            (3,484)               6,941
                       Total Recognised Revenues and Expenses for
              20,203   year                                                 (3,484)               6,941

          630,907      Equity Balance at 30 June                           624,041           637,848


                       Components of Equity




                                                                                                          Organisations
                                                                                                            Controlled
          396,823      Retained earnings at 1 July                         395,690           398,066




                                                                                                              Council
               2,746   Net surplus/(deficit) for the year                   (3,484)               6,941
           (1,503)     Transfers (to)/from restricted reserves                  3,480         (1,246)
          398,066      Retained earnings at 30 June                        395,686           403,761

              21,902   Restricted reserves at 1 July                        22,413              23,405
               1,503   Transfers to/(from) reserves                         (3,480)               1,246




                                                                                                          Fees & Charges
              23,405   Restricted reserves at 30 June                       18,933              24,651

                241    Hedging reserves at 1 July                                 241              241
                  0    Transfers to/(from) reserves                                 0                0
                241    Hedging reserves at 30 June                                241              241

          191,738      Revaluation reserves at 1 July                      209,181           209,195
              17,457   Transfers to/(from) reserves                                 0                0
                                                                                                          Management

          209,195      Revaluation reserves at 30 June                     209,181           209,195
                                                                                                            Financial




                                                                                                          125
                                                                                                          125
      Prospective Statement of Cashflows
                             Prospective Statement of Cashflows
            LTCCP                                                                  Annual Plan          LTCCP
           2010/11                                                                  2011/12            2011/12
           ($,000)                                                                   ($,000)           ($,000)

                             Cash Flows from Operating Activities
                             Cash was provided from
                 42,393      Rate Income                                                   42,689            43,757
                    867      Investment Income                                                946             1,038
                  2,900      Dividend Income                                                3,450             3,300
                 27,680      Other Operating Income                                        29,431            28,617
                 73,840                                                                    76,515            76,712
                             Cash was applied to
                 52,899      Operating Expenditure                                         57,847            58,545
                  3,096      Interest                                                       3,760             3,993
                 55,995                                                                    61,607            62,538

                17,846       Net cash Inflow/(Outflow) from Operating Activities           14,909           14,174

                             Cash Flows from Investing Activities
                             Cash was provided from
                     2,594   Redemption of Investments                                      5,958             2,956
                        99   Sale of Fixed Assets                                              88            11,322
                     2,693                                                                  6,046            14,278
                             Cash was applied to

                 21,457      Purchase of Fixed Assets                                      22,894            22,255
                  5,262      Investments Made                                               3,412             5,397
                 26,719                                                                    26,306            27,652

               (24,026)      Net cash Inflow/(Outflow) from Investing Activities         (20,260)          (13,374)

                             Cash Flows from Financing Activities
                             Cash was provided from
                     8,130   Loans raised                                                   7,732            10,544
                     8,130                                                                  7,732            10,544
                             Cash was applied to
                     1,949   Loan Principal Repaid                                          2,380            11,344
                     1,949                                                                  2,380            11,344

                 6,181       Net cash Inflow/(Outflow) from Financing Activities            5,351                (800)



                             Net (decrease) increase in cash and cash
                        0    equivalents                                                         (0)                0

                             Cash and cash equivalents at the beginning of the
                 2,781       year                                                           2,781            2,781
                 2,781       Cash and cash equivalents at the end of the year               2,781            2,781




126
Reconciliations from Cost of Service Statements to Statement of Comprehensive Income
1.           Rates Revenue




                                                                                                                                                                                        Introduction
Non significant activities comprise of the support functions of Council. These include the Directors, Accounting and Financial Services, Information Services and Corporate Services.



           LTCCP                                                                                                      Annual Plan                              LTCCP
         2010/11                                                                                                         2011/12                             2011/12
          ($,000)                                                                                                         ($,000)                             ($,000)

                       7,049            Roading                                                                                        6,829                               7,391




                                                                                                                                                                                        Council Activities
                       4,860            Sewerage                                                                                       4,884                               4,845
                       4,085            Solid Waste Management                                                                         3,790                               4,775
                       1,936            Stormwater                                                                                     2,179                               2,017
                       5,348            Water Supply                                                                                   5,716                               5,621
                      23,278            Infrastructural Services                                                                     23,398                              24,649

                          146           Animal Control                                                                                    147                                 150
                          560           Building Consents                                                                                 558                                 496




                                                                                                                                                                                        Organisations
                          332           Civil Defence Emergency Management                                                                231                                 347




                                                                                                                                                                                          Controlled
                          735           Environmental Health                                                                              842                                 850




                                                                                                                                                                                            Council
                        (107)           Compliance                                                                                       (94)                               (106)
                          956           Resource Management                                                                            1,222                               1,027
                       2,622            Development and Regulatory Services                                                            2,906                               2,764

                          293           Community Development                                                                             218                                 301




                                                                                                                                                                                        Fees & Charges
                              0         Housing Care Service                                                                                 0                                   0
                       3,691            Libraries and Archives                                                                         3,632                               3,754
                       5,375            Parks and Reserves                                                                             4,996                               5,411
                          915           Passenger Transport                                                                               891                                 939
                       1,877            Pools                                                                                          1,568                               1,637
                          320           Public Toilets                                                                                    326                                 344
                       1,127            Theatre Services                                                                               1,078                               1,144
                       1,840            Provision of Specialised Community Services                                                    2,662                               2,314
                                                                                                                                                                                        Management

                      15,437            Community Services                                                                           15,370                              15,844
                                                                                                                                                                                          Financial



                       2,498            Democratic Process                                                                             2,571                               2,584
                       1,571            Enterprise (including Destinational Marketing)                                                 1,574                               1,610
                        (448)           Investment                                                                                     (343)                             (1,093)
                       3,621            Corporate Services                                                                             3,803                               3,101

                     (2,566)            Non significant activities                                                                  (2,788)                              (2,602)

                     42,393             Total Rates Revenue                                                                         42,689                              43,756

                                        Per Statement of Comprehensive Income:
                     42,393             “Rates Revenue”                                                                             42,689                              43,757




                                                                                                                                                                                        127
                                                                                                                                                                                        127
      Reconciliations from Cost of Service Statements to Statement of Comprehensive Income
      2.    Operating Revenue
            LTCCP                                                             Annual Plan         LTCCP
           2010/11                                                             2011/12            2011/12
           ($,000)                                                              ($,000)           ($,000)

                     7,792   Roading                                                      7,062             8,261
                      728    Sewerage                                                       528              745
                     3,807   Solid Waste Management                                       5,915             3,887
                        8    Stormwater                                                       8                8
                     1,232   Water Supply                                                 1,057             1,261
                    13,567   Infrastructural Services                                 14,570              14,162

                      467    Animal Control                                                 526              480
                     1,900   Building Consents                                            2,007             1,946
                       34    Civil Defence Emergency Management                               0               34
                      295    Environmental Health                                           182              302
                      734    Compliance                                                     822              752
                      276    Resource Management                                            233              295
                     3,706   Development and Regulatory Services                          3,769             3,809

                       55    Community Development                                            8               57
                      867    Housing Care Service                                           960              889
                      330    Libraries and Archives                                         279              346
                     1,842   Parks and Reserves                                           2,021             1,877
                     1,059   Passenger Transport                                          1,006             1,085
                     1,201   Pools                                                        1,283             1,388
                        2    Public Toilets                                                   0                2
                      502    Theatre Services                                                 0              520
                        2    Provision of Specialised Community Services                      5                3
                     5,860   Community Services                                           5,564             6,167

                       58    Democratic Process                                             113               60
                     1,541   Enterprise (including Destinational Marketing)               1,448             1,566
                     1,036   Investment                                                   1,529             1,133
                     2,636   Corporate Services                                           3,090             2,759

                     5,967   Non significant activities                                   6,834             6,337

                 31,736      Total Operating Revenue                                  33,827            33,234

                             Per Statement of Comprehensive Income:
                    30,869   “Other Revenue”                                          32,881              32,197
                      867    “Finance Income”                                               946             1,038
                 31,736                                                               33,827            33,234




128
Reconciliations from Cost of Service Statements to Statement of Comprehensive Income
3.    Operating Gains/ (Losses)




                                                                                                              Introduction
      LTCCP                                                             Annual Plan         LTCCP
     2010/11                                                             2011/12            2011/12
     ($,000)                                                              ($,000)           ($,000)

              12,276   Roading                                                  13,410              12,903
               5,025   Sewerage                                                     4,872             5,415




                                                                                                              Council Activities
               7,808   Solid Waste Management                                       9,886             8,590
               2,291   Stormwater                                                   2,915             2,536
               6,924   Water Supply                                                 7,514             7,212
              34,324   Infrastructural Services                                 38,598              36,656

                589    Animal Control                                                 649              604
               2,460   Building Consents                                            2,565             2,443
                366    Civil Defence Emergency Management                             231              381




                                                                                                              Organisations
               1,030   Environmental Health                                         1,023             1,125




                                                                                                                Controlled
                                                                                                                  Council
                627    Compliance                                                     728              646
               1,207   Resource Management                                          1,443             1,295
               6,279   Development and Regulatory Services                          6,641             6,494

                348    Community Development                                          219              358
               1,319   Housing Care Service                                         1,158             1,356




                                                                                                              Fees & Charges
               5,105   Libraries and Archives                                       5,272             5,358
               6,447   Parks and Reserves                                           6,942             6,683
               1,959   Passenger Transport                                          1,908             2,008
               3,261   Pools                                                        3,129             3,253
                315    Public Toilets                                                 353              334
               1,752   Theatre Services                                             1,168             1,815
               1,857   Provision of Specialised Community Services                  4,691             5,764
              22,363   Community Services                                       24,840              26,928
                                                                                                              Management
                                                                                                                Financial


               2,516   Democratic Process                                           2,798             2,712
               3,112   Enterprise (including Destinational Marketing)               3,023             3,176
                980    Investment                                                   1,416             1,104
               6,609   Corporate Services                                           7,236             6,992

               2,659   Non significant activities                                   3,462             2,742

           72,233      Total Operating Expenditure                              80,777            79,812


                       Per Statement of Comprehensive Income:
              34,222   “Other Expenses”                                         38,816              39,195
              19,031   “Employee Expenses”                                      19,031              19,692
              15,883   “Depreciation”                                           19,170              16,932
               3,096   “Finance Costs”                                              3,760             3,993
           72,233                                                               80,777            79,812
                                                                                                              129
                                                                                                              129
      Reconciliations from Cost of Service Statements to Statement of Comprehensive Income
      4.    Operating Expenditure

            LTCCP                                                  Annual Plan          LTCCP
           2010/11                                                   2009/10           2009/10
           ($,000)                                                   ($,000)            ($,000)

                           Cost of Service Statements
                            - GAINS IN FAIR VALUE OF ASSETS
                     849   Investment                                            750                755

                           Cost of Service Statements
                           - GAINS FROM SALE OF ASSETS
                       0   Investment                                              0              9,007

                     849   Total Other Gains and Losses                          750              9,762

                     849   “Other Gains and Losses”                              750              9,762




130
Statement of Accounting Policies

Reporting Entity                                                                      The financial statements are
                                                                                      presented in New Zealand dollars
Invercargill City Council (“the Council”) is a territorial local authority governed
                                                                                      and all values are rounded to the




                                                                                                                              Introduction
by the Local Government Act 2002.
                                                                                      nearest thousand dollars ($’000). The
                                                                                      functional currency of the Council is
The Council has not presented group prospective financial statements because
                                                                                      New Zealand dollars.
the Council believes that the parent prospective financial statements are more
relevant to the users. The main purpose of prospective financial statements in
                                                                                      The Council adopted the prospective
the Annual Plan is to provide users with information about core services that the




                                                                                                                              Council Activities
                                                                                      financial statements on
Council intends to provide ratepayers, the expected cost of those services and,
                                                                                      7 June 2011.
as a consequence, how much Invercargill City Council requires by way of rates
to fund the intended levels of service. The level of rates funding required is
                                                                                      The Council and management
not affected by subsidiaries, except to the extent that Invercargill City Council
                                                                                      of the Invercargill City Council
obtains distributions from, or further invests in, those subsidiaries. Such effects
                                                                                      accept responsibility for the
are included in the prospective financial statements presented.
                                                                                      preparation of their prospective
                                                                                      financial statements, including the




                                                                                                                              Organisations
The primary objective of the Council is to provide goods or services for the




                                                                                                                                Controlled
                                                                                      appropriateness of the assumptions




                                                                                                                                  Council
community or social benefit rather than making a financial return. Accordingly,
                                                                                      underlying the prospective financial
the Council has designated itself and the group as public benefit entities for
                                                                                      statements and all other required
the purposes of New Zealand equivalents to International Financial Reporting
                                                                                      disclosures.
Standards (“NZ IFRS”).

                                                                                      No actual financial results have been




                                                                                                                              Fees & Charges
Basis of Preparation
                                                                                      incorporated within the prospective
The financial statements of the Council have been prepared in accordance with
                                                                                      financial statements.
the requirements of the Local Government Act 2002: Part 6, Section 93 and
Part 1 of Schedule 10, which includes the requirement to comply with New
Zealand generally accepted accounting practice (NZ GAAP).


These financial statements have been prepared in accordance with NZ GAAP.                                                     Management

They comply with NZ IFRS, and other applicable Financial Reporting Standards,
                                                                                                                                Financial

as appropriate for public benefit entities. The financial statements use opening
balances from the period ended 30 June 2010, estimates have been restated
accordingly if required.


The accounting policies set out below have been applied consistently to all
periods presented in these financial statements.



The financial statements have been prepared on a historical cost basis,
modified by the revaluation of land and buildings, certain infrastructural assets,
investment property, biological assets and financial instruments (including
derivative instruments).



                                                                                                                              131
                                                                                                                              131
      Accounting Policies                                                                   Sales of goods are recognised when a
                                                                                            product is sold to the customer. Sales
      Foreign Currency Transactions
                                                                                            are usually in cash or by credit card.
      Foreign currency transactions are translated into the functional currency using
                                                                                            The recorded revenue is the gross
      the exchange rates prevailing at the dates of the transactions.
                                                                                            amount of the sale, including credit
                                                                                            card fees payable for the transaction.
      Foreign exchange gains and losses resulting from the settlement of such
                                                                                            Such fees are included in other
      transactions are recognised in the Statement of Comprehensive Income.
                                                                                            expenses.


                                                                                            Where a physical asset is acquired
      Joint Ventures
                                                                                            for nil or nominal consideration the
      Joint ventures are those entities over which the Council has joint control,           fair value of the asset received is
      established by contractual agreement. The consolidated financial statements           recognised as revenue. Assets vested
      include the Council’s proportionate share of the joint venture entities’ assets,      in the Council are recognised as
      liabilities, revenue and expenses with items of a similar nature on a line-by-line    revenue when control over the asset
      basis, from the date joint control commences until the date joint control ceases.     is obtained.


      Revenue                                                                               Interest income is recognised using
      Revenue is measured at the fair value of consideration received.                      the effective interest method.


      Rates revenue                                                                         Dividends are recognised when the
      Rates are set annually by a resolution from Council and relate to a financial year.   right to receive payment has been
      All ratepayers are invoiced within the financial year to which the rates have been    established.
      set. Rates revenue is recognised when payable.
                                                                                            Construction Contracts
      Other revenue                                                                         Contract revenue and contract
      Water billing revenue is recognised on an accrual basis. Unbilled usage, as a         costs are recognised as revenue and
      result of unread meters at year end, is accrued on an average usage basis.            expenses respectively by reference
                                                                                            to the stage of completion of the
      Traffic and parking infringements are recognised when tickets are issued.             contract at balance date. The
                                                                                            stage of completion is measured
      The Council receives government grants from the New Zealand Transport Agency,         by reference to the contract costs
      which subsidises part of the Council’s costs in maintaining the local roading         incurred up to balance date as a
      infrastructure.                                                                       percentage of total estimated costs
                                                                                            for each contract.
      The subsidies are recognised as revenue upon entitlement as conditions
      pertaining to eligible expenditure have been fulfilled.                               Contract costs include all costs
                                                                                            directly related to specific contracts,
      Revenue from the rendering of services is recognised by reference to the stage        costs that are specifically chargeable
      of completion of the transaction at balance date, based on the actual service         to the customer under the terms
      provided as a percentage of the total services to be provided.                        of the contract and an allocation
                                                                                            of overhead expenses incurred in

132
connection with the group’s construction activities in general.                      Deferred tax is the amount of income
                                                                                     tax payable or recoverable in future
An expected loss on construction contracts is recognised immediately as an           periods in respect of temporary




                                                                                                                                Introduction
expense in the Statement of Comprehensive Income.                                    differences and unused tax losses.
                                                                                     Temporary differences are differences
Where the outcome of a contract cannot be reliably estimated, contract costs are     between the carrying amount of
recognised as an expense as incurred, and where it is probable that the costs will   assets and liabilities in the financial
be recovered, revenue is recognised to the extent of costs incurred.                 statements and the corresponding




                                                                                                                                Council Activities
                                                                                     tax bases used in the computation of
Construction work in progress is stated at the aggregate of contract costs           taxable profit.
incurred to date plus recognised profits less recognised losses and progress
billings.                                                                            Deferred tax liabilities are generally
                                                                                     recognised for all taxable temporary
If there are contracts where progress billings exceed the aggregate costs incurred   differences. Deferred tax assets
plus profits less losses, the net amounts are presented under other liabilities.     are recognised to the extent that
                                                                                     it is probable that taxable profits




                                                                                                                                Organisations
                                                                                                                                  Controlled
                                                                                     will be available against which the




                                                                                                                                    Council
Borrowing Costs                                                                      deductible temporary differences or

Borrowing costs are recognised as an expense in the period in which they are         tax losses can be utilised.

incurred.
                                                                                     Deferred tax is not recognised if the

Grant Expenditure                                                                    temporary difference arises from the




                                                                                                                                Fees & Charges
                                                                                     initial recognition of goodwill or from
Non-discretionary grants are those grants that are awarded if the grant
                                                                                     the initial recognition of an asset and
application meets the specified criteria and are recognised as expenditure when
                                                                                     liability in a transaction that is not a
an application that meets the specified criteria for the grant has been received.
                                                                                     business combination, and at the time
                                                                                     of the transaction affects neither
Discretionary grants are those grants where the Council has no obligation to
                                                                                     accounting profit nor taxable profit.
award on receipt of the grant application and are recognised as expenditure                                                     Management
when a successful applicant has been notified of the Council’s decision.
                                                                                     Deferred tax is recognised on
                                                                                                                                  Financial


                                                                                     taxable temporary differences
                                                                                     arising on investments in subsidiaries
Income Tax
                                                                                     and associates, and interests in
Income tax expense in relation to the surplus or deficit for the period comprises
                                                                                     joint ventures, except where the
current tax and deferred tax.
                                                                                     company can control the reversal
                                                                                     of the temporary difference and
Current tax is the amount of income tax payable based on the taxable profit for
                                                                                     it is probable that the temporary
the current year, plus any adjustments to income tax payable in respect of prior
                                                                                     difference will not reverse in the
years.
                                                                                     foreseeable future.

Current tax is calculated using rates that have been enacted or substantively
                                                                                     Deferred tax is calculated at the tax
enacted by balance date.
                                                                                     rates that are expected to apply in


                                                                                                                                133
                                                                                                                                133
      the period when the liability is settled or the asset is realised, using tax rates     Financial Assets
      that have been enacted or substantively enacted by balance date. Current tax           The Council classifies its financial
      and deferred tax is charged or credited to the Statement of Comprehensive              assets into the following three
      Income, except when it relates to items charged or credited directly to equity, in     categories: available for sale
      which case the tax is dealt with in equity.                                            investments, loans and receivables
                                                                                             and financial assets at fair value
                                                                                             through surplus or deficit. The
      Leases                                                                                 classification depends on the purpose
      Finance leases                                                                         for which the investments were
      A finance lease is a lease that transfers to the lessee substantially all the          acquired. Management determines
      risks and rewards incidental to ownership of an asset, whether or not title is         the classification of its investments
      eventually transferred.                                                                at initial recognition and re-evaluates
                                                                                             this designation at every reporting
      At the commencement of the lease term, the Council recognises finance leases           date.
      as assets and liabilities in the Statement of Financial Position at the lower of
      the fair value of the leased item or the present value of the minimum lease            Financial assets and liabilities are
      payments.                                                                              initially measured at fair value plus
                                                                                             transaction costs.
      The amount recognised as an asset is depreciated over its useful life. If there is
                                                                                             The fair value of financial instruments
      no certainty as to whether the Council will obtain ownership at the end of the
                                                                                             that are not traded in an active
      lease term, the asset is fully depreciated over the shorter of the lease term and
                                                                                             market is determined using valuation
      its useful life.
                                                                                             techniques. The Council uses a
                                                                                             variety of methods and makes
      Operating leases
                                                                                             assumptions that are based on market
      An operating lease is a lease that does not transfer substantially all the risks and
                                                                                             conditions existing at each balance
      rewards incidental to ownership of an asset. Lease payments under an operating
                                                                                             date.
      lease are recognised as an expense on a straight-line basis over the lease term.

                                                                                             Quoted market prices or dealer
                                                                                             quotes for similar instruments are
      Inventories
                                                                                             used for long-term debt instruments
      Inventories (such as spare parts and other items) held for distribution or             held. Other techniques, such as
      consumption in the provision of services that are not supplied on a commercial         estimated discounted cash flows, net
      basis are measured at the lower of cost and current replacement cost.                  asset backing, are used to determine
                                                                                             fair value for the remaining financial
      Inventories held for use in the production of goods and services on a commercial       instruments.
      basis are valued at the lower of cost and net realisable value. The cost of
      purchased inventory is determined using the FIFO method.                               The three categories of financial
                                                                                             assets are:
      The write down from cost to current replacement cost or net realisable value is        »   Loans and receivables
      recognised in the Statement of Comprehensive Income.                                       These are non-derivative
                                                                                                 financial assets with fixed or
                                                                                                 determinable payments that are
134                                                                                              not quoted in an active market.
         After initial recognition they are measured at amortised cost using the          Non-current assets held for sale
         effective interest method. Gains and losses when the asset is impaired           Non-current assets held for sale are
         or derecognised are recognised in the Statement of Comprehensive                 classified as held for sale if their




                                                                                                                                    Introduction
         Income.                                                                          carrying amount will be recovered
                                                                                          principally through a sale transaction,
         Loans and receivables are classified as “trade and other receivables” in         not through continuing use. Non-
         the Statement of Financial Position.                                             current assets held for sale are
                                                                                          measured at the lower of their




                                                                                                                                    Council Activities
         Investments in this category include fixed term deposits and loans to            carrying amount and fair value less
         associates.                                                                      costs to sell.


»        Financial assets at fair value through Surplus or Deficit                        Impairment of Financial Assets
         This category has two sub-categories: financial assets held for trading, and     At each balance sheet date the
         those designated at fair value through surplus or deficit at inception. A        Council assesses whether there is any
         financial asset is classified in this category if acquired principally for the   objective evidence that a financial
         purpose of selling in the short term or if so designated by management.          asset or group of financial assets




                                                                                                                                    Organisations
                                                                                                                                      Controlled
         Derivatives are also categorised as held for trading unless they are             is impaired. Any impairment losses




                                                                                                                                        Council
         designated as hedges. Assets in this category are classified as current          are recognised in the Statement of
         assets if they are either held for trading or are expected to be realised        Financial Performance.
         within 12 months of the balance sheet date. After initial recognition they
         are measured at their fair values. Gains or losses on remeasurement are          Financial Instruments
         recognised in the Statement of Comprehensive Income.                             »




                                                                                                                                    Fees & Charges
                                                                                              Trade and other receivables
                                                                                              Trade and other receivables are
»        Available for sale investments                                                       initially measured at fair value
         Available for sale investments are those that are designated as being held to        and subsequently measured
         maturity or are not classified in any of the other categories above.                 at amortised cost using the
                                                                                              effective interest method, less
         This category encompasses investments that the Council intends to
                                                                                              any provision for impairment.
         hold long-term but which may be realised before maturity. After initial
                                                                                              Loans, including loans to
                                                                                                                                    Management

         recognition these investments are measured at their fair value.
                                                                                                                                      Financial

                                                                                              community organisations made
                                                                                              by the Council at nil, or below-
Gains and losses are recognised directly in equity except for impairment losses,
                                                                                              market interest rates are initially
which are recognised in the Statement of Comprehensive Income. In the event
                                                                                              recognised at the present value
of impairment, any cumulative losses previously recognised in equity will be
                                                                                              of their expected future cash
removed from equity and recognised in the Statement of Financial Performance
                                                                                              flows, discounted at the current
even though the asset has not been derecognised. Investments in this category
                                                                                              market rate of return for a
include shares in Local Government Insurance Corporation.
                                                                                              similar asset/investment. They
                                                                                              are subsequently measured at
Shareholdings that Invercargill City Council holds for strategic purposes
                                                                                              amortised cost using the
Invercargill City Council’s investments in its subsidiaries and associate companies
                                                                                              effective interest method. The
are not included in this category as they are held at cost (as allowed by NZ IAS
                                                                                              difference between the face
27 Consolidated and Separate Financial Statements and NZ IAS 28 Investments in
                                                                                              value and present value of
Associates) whereas this category is to be measured at fair value.

                                                                                                                                    135
                                                                                                                                    135
          expected future cash flows of the loan is recognised in the Statement of       Cash flow hedge
          Comprehensive Income as a grant.                                               Changes in the fair value of the
                                                                                         derivatives hedging instruments
          A provision for impairment of receivables is established when there            designated as a cashflow hedge are
          is objective evidence that the Council will not be able to collect all         recognised directly in equity to the
          amounts due according to the original terms of receivables.                    extent that the hedge is effective.
                                                                                         To the extent that the hedge is
          The amount of the provision is the difference between the asset’s              ineffective, changes in fair value are
          carrying amount and the present value of estimated future cash flows,          recognised in profit or loss.
          discounted using the effective interest method.
                                                                                         If a hedge of a forecast transaction
      »   Cash and cash equivalents                                                      subsequently results in the
          Cash and cash equivalents includes cash in hand, deposits held at call         recognition of a financial asset or
          with banks, other short-term highly liquid investments with original           a financial liability, the associated
          maturities of three months or less, and bank overdrafts.                       gains or losses that were recognised
          Bank overdrafts are shown separately in current liabilities in the             directly in equity will be reclassified
          Statement of Financial Position.                                               into profit or loss in the same period
                                                                                         or periods during which the asset
      »   Borrowings                                                                     acquired or liability assumed affects
          Borrowings are initially recognised at their fair value, net of any            profit or loss.
          transaction costs incurred. After initial recognition, all borrowings are
          measured at amortised cost using the effective interest method.                However, if Invercargill City Council
          Borrowings are classified as current liabilities unless Council has an         expects that all or a portion of a loss
          unconditional right to defer settlement of the liability at least 12           recognised directly in equity will not
          months after the balance date.                                                 be recovered in one or more future
                                                                                         periods, it will reclassify into profit or
      »   Trade and other payables                                                       loss the amount that is not expected
          Trade and other payables are initially measured at fair value, and             to be recovered.
          subsequently measured at amortised cost using the effective interest
          method.                                                                        When a hedge of a forecast
                                                                                         transaction subsequently results in
      »   Accounting for derivative financial instruments and hedging activities         the recognition of a non-financial
          The Council uses derivative financial instruments to hedge exposure to         asset or a non-financial liability, or
          interest rate risks arising from financing activities. In accordance with      a forecast transaction for a non-
          its treasury policy, the Council does not hold or issue derivative financial   financial asset or non-financial
          instruments for trading purposes.                                              liability becomes a firm commitment
                                                                                         for which fair value hedge accounting
          Derivatives are initially recognised at fair value on the date a derivative    is applied, then the associated gains
          contract is entered into and are subsequently remeasured at their fair         and losses that were recognised
          value at each balance date. However, where derivatives qualify for             directly in equity will be included in
          hedge accounting, recognition for any resultant gain or loss depends on        the initial cost or carrying amount of
          the nature of the hedging relationship.                                        the asset or liability.

136
For cash flow hedges other than those covered above, amounts that had been           Disposals
recognised directly in equity will be recognised in profit or loss in the same
                                                                                     Gains and losses on disposals are
period or periods during which the hedged forecast transaction affects profit or




                                                                                                                               Introduction
                                                                                     determined by comparing the
loss (for example, when a forecast sale occurs).
                                                                                     proceeds with the carrying amount
                                                                                     of the asset. Gains and losses
If the hedging instrument no longer meets the criteria for hedge accounting,
                                                                                     on disposals are included in the
expires or is sold, terminated or exercised, then hedge accounting is discontinued
                                                                                     Statement of Comprehensive Income.
prospectively. The cumulative gain or loss previously recognised in equity
                                                                                     When revalued assets are sold, the




                                                                                                                               Council Activities
remains there until the forecast transaction occurs.
                                                                                     amounts included in asset revaluation
                                                                                     reserves in respect of those assets are
The amount recognised in equity is transferred to surplus or deficit in the same
                                                                                     transferred to retained earnings.
period that the hedged item affects the surplus or deficit.



                                                                                     Subsequent Costs
Property, Plant and Equipment
                                                                                     Costs incurred subsequent to initial




                                                                                                                               Organisations
Property, plant and equipment consists of:
                                                                                     acquisition are capitalised only




                                                                                                                                 Controlled
                                                                                                                                   Council
                                                                                     when it is probable that future
Operational assets - These include land, buildings, library books, plant and
                                                                                     economic benefits or service potential
equipment, and motor vehicles.
                                                                                     associated with the item will flow to
                                                                                     the Council and the cost of the item
Restricted assets - Restricted assets are parks and reserves owned by the
                                                                                     can be measured reliably.




                                                                                                                               Fees & Charges
Council which provide a benefit or service to the community and cannot be
disposed of because of legal or other restrictions.

                                                                                     Depreciation
Infrastructure assets - Infrastructure assets are the fixed utility systems owned
                                                                                     Depreciation is provided on a
by the Council. Each asset class includes all items that are required for the
                                                                                     straight-line basis on all property,
network to function, for example, sewer reticulation includes reticulation piping
                                                                                     plant and equipment other than
and sewer pump stations.
                                                                                     land, at rates that will write off the    Management
                                                                                     cost (or valuation) of the assets to
                                                                                                                                 Financial

Property, plant and equipment is shown at cost or valuation, less accumulated
                                                                                     their estimated residual values over
depreciation and impairment losses.
                                                                                     their useful lives. The useful lives
                                                                                     and associated depreciation rates
                                                                                     of major classes of assets have been
Additions
                                                                                     estimated as follows:
The cost of an item of property, plant and equipment is recognised as an asset
if, and only if, it is probable that future economic benefits or service potential
associated with the item will flow to the Council and the cost of the item can be
measured reliably. In most instances, an item of property, plant and equipment
is recognised at its cost. Where an asset is acquired at no cost, or for a nominal
cost, it is recognised at fair value as at the date of acquisition.




                                                                                                                               137
                                                                                                                               137
       (a) Building
       Parent
       - Structures                                                                    3% SL
       - Roof                                                                        2.5% SL
       - Electrical                                                                 2.22% SL
       - Plumbing                                                                   2.22% SL
       - Internal Fitout                                                            2.86% SL
       - Plant                                                                      3.33% SL


       (b) Furniture and Fittings                                           6.7% - 50% DV


       (c) Office equipment                                             14.4% - 60% SL/DV


       (d) Infrastructural Assets
       Bridges                                                                  1% - 2% DV
       Traffic Signals                                                    2.6% - 12.6% DV
       Footpaths and Crossings                                              6.6% - 12% DV
       Roads
       - Formation                                                                       0%
       - Shoulders and Pavements                                         1.25% - 2.65% DV
       - Top Surface                                                            15.42% DV
       Drainage and Stormwater
       - System                                                                 1% - 2% DV
       - Plant                                                                      6.67% DV
       - Buildings                                                              1% - 2% DV
       Water
       - System                                                             2.8% - 3.8% SL
       - Plant                                                                       3.4% DV


       (e) - Plant                                                         5% - 50% SL/DV
           - Tools                                                                    10% SL
       (f) Motor Vehicles                                                  10% - 31.2% DV


       (g) Library Collections                                              6.67% - 50% SL
       The non fiction collection is not depreciated.




      The residual value and useful life of an asset is reviewed, and adjusted if
      applicable, at each financial year end.




138
Revaluation                                                                           Any subsequent increase on

Those asset classes that are revalued are valued on a valuation cycle as described    revaluation that offsets a previous
                                                                                      decrease in value recognised in




                                                                                                                               Introduction
below on the basis described below. All other asset classes are carried at
depreciated historical cost.                                                          the Statement of Comprehensive
                                                                                      Income will be recognised first in

The carrying values of revalued items are reviewed at each balance date to            the Statement of Comprehensive

ensure that those values are not materially different to fair value.                  Income up to the amount previously
                                                                                      expensed, and then credited to the




                                                                                                                               Council Activities
                                                                                      revaluation reserve for that class of

Valuation                                                                             asset.

All assets are valued at historic cost less accumulated depreciation and
impairment costs, except the following:
                                                                                      Intangible Assets
»         Operational land and buildings have been valued at fair value.
          Valuations are completed three yearly.                                      Software

»         Investment land and buildings have been valued annually at net              Intangible assets that are acquired




                                                                                                                               Organisations
          realisable value. Any adjustment to the values has been accounted for       which have finite useful lives are




                                                                                                                                 Controlled
                                                                                      measured at cost less accumulated




                                                                                                                                   Council
          as an increase (decrease) in the Statement of Comprehensive Income.
»         Restricted land and buildings have been valued at net current value as at   amortisation and accumulated

          30 June 1992.                                                               impairment losses.

»         Library collections are valued at depreciated replacement cost.
          Valuations are completed three yearly.                                      Amortisation is charged to the




                                                                                                                               Fees & Charges
»         Infrastructural assets                                                      statement of performance on a

          Land under Roads                                                            straight-line basis over the estimated

          Land under roads has been valued at deemed cost. Deemed cost is the         useful economic lives of the

          fair value being the current valuation at 30 June 2005.                     intangible assets. The amortisation

          Roads and Bridges                                                           rates for the current period are as

          Roads and bridges are valued at depreciated replacement cost.               follows:

          Valuations are completed three yearly.
                                                                                      Software          40-48%SL/DV
                                                                                                                               Management
          Stormwater, Waste Water and Water Systems
                                                                                                                                 Financial

          Assets are valued at depreciated replacement cost. Valuations are
          completed three yearly.


Accounting for revaluations                                                           Forestry Assets
The Council accounts for revaluations of property, plant and equipment on a class     Forestry assets are independently
of asset basis.                                                                       revalued annually at fair value less
                                                                                      estimated point of sale costs. Fair
The results of revaluing are credited or debited to an asset revaluation reserve      value is determined based on the
for that class of asset. Where this results in a debit balance in the asset           present value of expected net cash
revaluation reserve, this balance is expensed in the Statement of Comprehensive       flows discounted at a current market
Income.                                                                               determined pre-tax rate.




                                                                                                                               139
                                                                                                                               139
      Gains or losses arising on initial recognition of biological assets at fair value less   For revalued assets the impairment
      estimated point of sale costs and from a change in fair value less estimated point       loss is recognised against the
      of sale costs are recognised in the Statement of Comprehensive Income.                   revaluation reserve for that class of
                                                                                               asset. Where that results in a debit
      The costs to maintain the forestry assets are included in the Statement of               balance in the revaluation reserve,
      Comprehensive Income.                                                                    the balance is recognised in the
                                                                                               Statement of Comprehensive Income.


      Investment Property                                                                      For assets not carried at a revalued

      Properties leased to third parties under operating leases are classified as              amount, the total impairment loss

      investment property unless the property is held to meet service delivery                 is recognised in the Statement of

      objectives, rather than to earn rentals or for capital appreciation.                     Comprehensive Income.

      Investment property is measured initially at its cost, including transaction costs.
                                                                                               The reversal of an impairment loss
                                                                                               on a revalued asset is credited to the

      After initial recognition, the Council measures all investment property at fair          revaluation reserve.

      value as determined annually by an independent valuer.
                                                                                               However, to the extent that an

      Gains or losses arising from a change in the fair value of investment property are       impairment loss for that class of asset

      recognised in the Statement of Comprehensive Income.                                     was previously recognised in the
                                                                                               Statement of Comprehensive Income,
                                                                                               a reversal of the impairment loss is

      Impairment of Non-Financial Assets                                                       also recognised in the Statement of
                                                                                               Comprehensive Income.
      Non-financial assets that have an indefinite useful life are not subject to
      amortisation and are tested annually for impairment. Assets that have a
                                                                                               For assets not carried at a revalued
      finite useful life are reviewed for impairment whenever events or changes in
                                                                                               amount (other than goodwill) the
      circumstances indicate that the carrying amount may not be recoverable. An
                                                                                               reversal of an impairment loss is
      impairment loss is recognised for the amount by which the asset’s carrying
                                                                                               recognised in the Statement of
      amount exceeds its recoverable amount. The recoverable amount is the higher
                                                                                               Comprehensive Income.
      of an asset’s fair value less costs to sell and value in use.


      Value in use is depreciated replacement cost for an asset where the future
                                                                                               Employee Benefits
      economic benefits or service potential of the asset are not primarily dependent
      on the asset’s ability to generate net cash inflows and where the entity would, if       Short-term benefits

      deprived of the asset, replace its remaining future economic benefits or service         Employee benefits that the Council

      potential.                                                                               expects to be settled within 12
                                                                                               months of balance date are measured

      The value in use for cash-generating assets is the present value of expected             at nominal values based on accrued

      future cash flows.                                                                       entitlements at current rates of pay.


      If an asset’s carrying amount exceeds its recoverable amount the asset is                These include salaries and wages

      impaired and the carrying amount is written down to the recoverable amount.              accrued up to balance date, annual

140
leave earned to, but not yet taken at balance date, retiring and long service           current market assessments of
leave entitlements expected to be settled within 12 months, and sick leave.             the time value of money and the
                                                                                        risks specific to the obligation. The




                                                                                                                                  Introduction
Long-term benefits                                                                      increase in the provision due to the
Long service leave and retirement leave                                                 passage of time is recognised as an
Council’s net obligation in respect of long-term employee benefits other than           interest expense.
pension plans is the amount of future benefit that employees have earned in
return for their service in the current and prior periods; that benefit is discounted   Landfill Post Closure Costs




                                                                                                                                  Council Activities
to determine its present value.                                                         The Council has a legal obligation
                                                                                        under the Resource Consent to
The discount rate is the yield at the reporting date on AA credit-rated bonds           provide ongoing maintenance and
that have maturity dates approximating the terms of Council’s obligations. The          monitoring services at the landfill
calculation is performed using the projected unit credit method. Any actuarial          site after closure. A provision for
gains or losses are recognised in surplus or deficit in the period in which they        post closure costs is recognised as a
arise.                                                                                  liability when the obligation for post




                                                                                                                                  Organisations
                                                                                        closure arises.




                                                                                                                                    Controlled
Superannuation schemes




                                                                                                                                      Council
Defined contribution schemes:                                                           The provision is measured based
Obligations for contributions to defined contribution superannuation schemes are        on the present value of future cash
recognised as an expense in the Statement of Comprehensive Income as incurred.          flows expected to be incurred, taking
                                                                                        into account future events including
Defined benefit schemes:




                                                                                                                                  Fees & Charges
                                                                                        new legal requirements and known
The Council belongs to the Defined Benefit Plan Contributors Scheme (the                improvements in technology. The
scheme), which is managed by the Board of Trustees of the National Provident            provision includes all costs associated
Fund. The scheme is a multi-employer defined benefit scheme.                            with landfill post closure. The
                                                                                        discount rate applied is 7% which
Insufficient information is available to use defined benefit accounting, as it is not   represents the risk free discount rate.
possible to determine from the terms of the scheme, the extent to which the
surplus/deficit will affect future contributions by individual employers, as there
                                                                                                                                  Management

is no prescribed basis for allocation. The scheme is therefore accounted for as a       Borrowings
                                                                                                                                    Financial


defined contribution scheme.
                                                                                        Borrowings are initially recognised
                                                                                        at their fair value. After initial
                                                                                        recognition, all borrowings are
Provisions
                                                                                        measured at amortised cost using the
The Council recognises a provision for future expenditure of uncertain amount or        effective interest method.
timing when there is a present obligation (either legal or constructive) as a result
of a past event, it is probable that expenditures will be required to settle the
obligation and a reliable estimate can be made of the amount of the obligation.
Provisions are not recognised for future operating losses.


Provisions are measured at the present value of the expenditures expected to
be required to settle the obligation using a pre-tax discount rate that reflects

                                                                                                                                  141
                                                                                                                                  141
      Equity                                                                                   Critical Accounting Estimates
      Equity is the community’s interest in the Council and is measured as the                 and Assumptions
      difference between total assets and total liabilities. Equity is disaggregated and       In preparing these financial
      classified into a number of reserves.                                                    statements Invercargill City Council
      The components of equity are:                                                            has made estimates and assumptions.
      »        Retained earnings.                                                              These estimates and assumptions may
      »        Council reserves (includes sinking funds, special reserves and                  differ from the subsequent actual
               endowment reserves).                                                            results. Estimates and assumptions
      »        Fair value and hedging reserves.                                                are continually evaluated and are
      »        Asset revaluation reserves.                                                     based on historical experience and
                                                                                               other factors, including expectations
                                                                                               or future events that are believed
      Goods and Services Tax (GST)                                                             to be reasonable under the

      All items in the financial statements are stated exclusive of GST, except for            circumstances. The estimates and

      receivables and payables, which are stated on a GST inclusive basis. Where GST           assumptions that have a significant

      is not recoverable as input tax then it is recognised as part of the related asset or    risk of causing a material adjustment

      expense.                                                                                 to the carrying amounts of assets and
                                                                                               liabilities within the next financial

      The net amount of GST recoverable from, or payable to, the Inland Revenue                year are discussed below:

      Department (IRD) is included as part of receivables or payables in the Statement
      of Financial Position.
                                                                                               Properties
                                                                                               Invercargill City Council owns a
      The net GST paid to, or received from, the IRD including the GST relating to
                                                                                               number of properties, which are
      investing and financing activities, is classified as an operating cash flow in the
                                                                                               maintained primarily to provide
      Statement of Cash Flows.
                                                                                               housing to pensioners. The receipt
                                                                                               of market-based rental from these
      Commitments and contingencies are disclosed exclusive of GST.
                                                                                               properties is incidental to holding
                                                                                               these properties. These properties
                                                                                               are held for service delivery
      Cost Allocation
                                                                                               objectives as part of Invercargill
      The Council has derived the cost of service for each significant activity of the
                                                                                               City Council’s social housing policy.
      Council using the cost allocation system outlined below.
                                                                                               These properties are accounted for as
                                                                                               property, plant and equipment.
      Direct costs are those costs directly attributable to a significant activity. Indirect
      costs are those costs, which cannot be identified in an economically feasible
      manner, with a specific significant activity.                                            Infrastructural Assets
                                                                                               There are a number of assumptions
      Direct costs are charged directly to significant activities. Indirect costs are          and estimates used when performing
      charged to significant activities using appropriate cost drivers such as actual          DRC valuations over infrastructural
      usage, staff numbers and floor area.                                                     assets. These include:




142
»        The physical deterioration and condition of an asset, for example the
         Council could be carrying an asset at an amount that does not reflect its
         actual condition. This is particularly so for those assets which are not




                                                                                     Introduction
         visible, for example stormwater, waste water and water supply pipes
         that are underground. This risk is minimised by Council performing a
         combination of physical inspections and condition modelling assessments
         of underground assets;
»        Estimating any obsolescence or surplus capacity of an asset; and




                                                                                     Council Activities
»        Estimates are made when determining the remaining useful lives over
         which the asset will be depreciated.
         These estimates can be impacted by the local conditions, for
         example weather patterns and traffic growth. If useful lives do not
         reflect the actual consumption of the benefits of the asset, then
         Invercargill City Council could be over or under estimating the annual
         depreciation charge recognised as an expense in the Statement of
         Financial Performance. To minimise this risk Invercargill City Council’s




                                                                                     Organisations
                                                                                       Controlled
         infrastructural assets’ useful lives have been determined with reference




                                                                                         Council
         to the NZ Infrastructural Asset Valuation and Depreciation Guidelines
         published by the National Asset Management Steering Group, and have
         been adjusted for local conditions based on past experience. Asset
         inspections, deterioration and condition modelling are also carried out
         regularly as part of the Invercargill City Council’s asset management




                                                                                     Fees & Charges
         planning activities, which gives Invercargill City Council further
         assurance over its useful life estimates. Experienced independent
         valuers review the Council’s infrastructural asset revaluations.


Prospective Financial Information
The financial information contained within this document is prospective financial
information in terms of accounting standard FRS42 and complies with this
                                                                                     Management
                                                                                       Financial

standard. The purpose for which it has been prepared is to enable ratepayers,
residents and any other interested parties to obtain information about the
expected future financial performance, position and cash flow of the Invercargill
City Council. The actual results achieved for any particular financial year are
also likely to vary from the information presented and may vary materially
depending on the circumstances that arise during the period. Estimates and
judgements are continually evaluated and are based on historical experience
and other factors, including expectation of future events that are believed to be
reasonable under the circumstances.



Changes in Accounting Policies
There have been no changes to accounting policies.

                                                                                     143
                                                                                     143
      Funding Impact Statement


           LTCCP                                                              Annual Plan         LTCCP
          2010/11                                                              2011/12            2011/12
           ($,000)                                                              ($,000)           ($,000)

                             Funding
                   20,065    Fees and Charges                                         22,403              20,522
                      867    Interest                                                       946             1,038
                     2,900   Dividends                                                    3,450             3,300
                        0    Gain on sale of assets                                          0              9,007
                     8,130   Borrowing                                                    7,732           10,544
                       99    Proceeds from Asset Sales                                      88              2,315
                     7,905   Grants and Subsidies                                         7,028             8,375
                     5,865   General Rates                                                6,488             5,833
                   36,529    Targeted Rates                                           36,201              37,924
                   14,962    Transfers from Special Reserves - Depreciation           18,237              15,991
                     2,604   Transfers from Reserves                                      5,958             2,957
                 99,924      Total Funding                                           108,531           117,806

                             Expenditure
                   53,253    Operating Costs                                          57,847              58,888
                     3,096   Interest                                                     3,760             3,993
                   15,883    Depreciation                                             19,170              16,932
                   21,457    Capital Expenditure                                      22,894              22,254
                     1,949   Loan Repayments                                              2,380           11,344
                     4,285   Transfers to Reserves                                        2,479             4,395
                 99,924      Total Expenditure                                       108,531           117,806




144
Rating
This Rating Policy should be read in conjunction with the Revenue and Financing




                                                                                                                           Introduction
Policy and the funding principles included in this Plan. Figures in this Policy are
inclusive of GST. The 2010/11 rate amounts are shown at 15% GST.


The following rates will be set by Council for the financial year commencing 1 July
2011 and ending 30 June 2012.




                                                                                                                           Council Activities
Shown below are the details for each of the rates to be set for each financial year.
All rates set by way of a rate in the dollar are based on Capital Value.



Differentials Applied In Setting General And Targeted Rates

In order to maintain an equitable rating impact and preserve the relationship which
exists between residential, rural, commercial, utilities and large industrial rating
units, differentials have been applied to the residential rating unit base rate, as




                                                                                                                           Organisations
                                                                                                                             Controlled
follows:




                                                                                                                               Council
General Rate                                                                                                          %
Residential                                                                                   Base Rate          100.00
Residential – Home Business                                                                   Base Rate         + 20.00
Residential – Multi Units              For the first unit                                     Base Rate          100.00




                                                                                                                           Fees & Charges
                                       For each additional unit                               Base Rate         - 50.00
Commercial                                                                                    Base Rate         + 20.00
Industrial                                                                                    Base Rate         + 10.00
Rural – Farming                                                                               Base Rate         - 55.00




                                                                                                                           Management
                                                                                                                             Financial



The General Rate is to fund the activities of Environmental Health, Building
Consents, Emergency Services, Grants, Total Mobility, Civic Theatre, Democratic
Process and 10% of both Street Lighting and Footpaths. It is based on the Capital
Value of that Rating Unit. This is the Base Rate.


Differentials will be applied to the General Rate as outlined above. No Uniform
Annual General Charge is applied.
Targeted Rates
                                                                                       2011/12                 2010/11
General Base Rate                                                                 0.00112565 / $          0.00100532 / $




                                                                                                                           145
                                                                                                                           145
      (a)      Targeted Rates Payable on All Rating Units


      The following rates are payable on all rateable land by applying a rate in the
      dollar based on the Capital Value of the Rating Unit and are subject to the
      differentials as outlined:
      »        Resource Management Rate is to fund the function of Resource
               Management.
      »        Roading Rate is to fund the provision of Roading Services.
      »        Parks and Reserves Rate is to fund provision of Parks and Reserves in the
               district.
      »        Cemeteries Rate is to fund the operation of Council’s Cemeteries.
      »        Pools Rate is to fund provision of Aquatic Facilities in the district.



                                                                                               2011/12           2010/11
      Resource Management Base Rate                                                       0.00021193 / $    0.00018620 / $
      Roading Base Rate                                                                   0.00081658 / $    0.00081138 / $
      Parks and Reserves Base Rate                                                        0.00082806 / $    0.00083863 / $
      Cemeteries Base Rate                                                                0.00003862 / $    0.00004146 / $
      Pools Base Rate                                                                     0.00027199 / $    0.00027625 / $


      The following rates are set on all rating units by applying a fixed charge with
      differentials applied as outlined above:
      »        Libraries Rate is to fund provision of Library Services in the district.
      »        Regional Heritage Rate is to fund Council’s contribution to the operation
               of Southland Museums.
                                                                                                2011/12           2010/11
      Libraries Base Rate                                                                        $170.13           $171.02
      Regional Heritage Base Rate                                                                 $29.89            $29.45


      The following rate applies to those rating units which have a land use as shown in
      the Rating Information Database of Commercial or Industrial only. This differential
      has the objective of applying a nil rate to all other categories of land use. The rate
      is detailed below:
      »        Economic Development Rate is to fund economic, sporting and cultural
               development initiatives.
                                                                                                2011/12           2010/11
      Economic Development Base Rate                                                      0.00004909 / $    0.00004942 / $

      »        Vibrant Invercargill Rate (Map H)                                                2011/12            2010/11
      Vibrant Invercargill Base Rate                                                       0.00016188 / $    0.00016509 / $




146
(b)     Targeted Rates Payable by Groups of Ratepayers


Payable by Ratepayers Within a Specified Location




                                                                                                             Introduction
The following rates are payable on all rateable land within a specified location. A
general description of the area is given in each case. Maps defining the areas are
attached as Maps A - G.
(1)     Rateable Land Within the Invercargill City and Bluff Urban Areas
        (Map A). These targeted rates will be set for each rating unit by




                                                                                                             Council Activities
        applying a rate in the dollar based on the Capital Value of the Rating
        Unit. Differentials will be applied to these targeted rates as outlined
        earlier. 90% of the rates for footpaths and street lighting will be
        targeted and 10% general rate.
        »   Footpaths Rate to fund provision of footpaths in the Invercargill City
            and Bluff areas.
        »   Street Lighting Rate to fund provision of street lighting in Invercargill
            City and Bluff.




                                                                                                             Organisations
                                                                                2011/12          2010/11




                                                                                                               Controlled
                                                                                                                 Council
Footpaths Base Rate                                                       0.00033052 / $    0.00031566 / $
Street Lighting Base Rate                                                 0.00009867 / $    0.00009987 / $



(2)     Rateable Land within the Invercargill City Area Only (Map B). This
        targeted rate will be set for each rating unit by applying a rate in the




                                                                                                             Fees & Charges
        dollar based on the Capital Value of the Rating Unit. Differentials will
        be applied to these targeted rates as outlined above.
        »   Transport Rate to fund the cost of subsidised passenger transport in
            the Invercargill City area.

                                                                                2011/12          2010/11
Transport Base Rate                                                      0.00017166 / $     0.00017561 / $   Management
                                                                                                               Financial




(3)     Rateable Land Within the Makarewa Drainage Area (Map C). The
        Makarewa targeted drainage rate will be set for each rating unit on a
        fixed charge per rating unit basis.
        »   Drainage - Makarewa Rate to fund costs in the Makarewa Drainage
            area.

                                                                                2011/12          2010/11
Drainage Makarewa Base Rate                                                        $79.63          $64.00




                                                                                                             147
                                                                                                             147
      (4)     Rateable Land Within the Myross Bush Drainage Area (Map D). The
              Myross Bush targeted drainage rate will be set for each rating unit on a
              fixed charge per rating unit basis.
              »   Drainage – Myross Bush Rate to fund costs in the Myross Bush Drainage
                  area.
                                                                                   2011/12        2010/11
      Drainage Myross Bush Base Rate                                                $74.36          $70.36




      (5)     Rateable Land Within the Specified Locations for Community Centres
              (Map E). These targeted rates will be set for each rating unit on a
              fixed charge per rating unit basis to fund the cost of operating a
              Community Centre in each location.
              »   Community Centre - Makarewa Rate
              »   Community Centre - Myross Bush Rate
              »   Community Centre - Awarua Rate
              »   Community Centre - Otatara Rate
              »   Town Hall - Bluff Rate
                                                                                   2011/12        2010/11
      Community Centre – Makarewa Base Rate                                         $10.22          $10.22
      Community Centre – Myross Bush Base Rate                                      $30.66          $30.67
      Community Centre – Awarua Base Rate                                           $20.45          $20.45
      Community Centre – Otatara Base Rate                                           $6.00           $5.75
      Bluff Town Hall Base Rate                                                      $6.34           $6.37




      (6)     Rateable Land Within the Bluff Ward (Map F). This targeted rate will
              be set for all rateable land by applying a rate in the dollar based on the
              Capital Value of the Rating Unit. Differentials will be applied to this
              rate as outlined above.
              »   Community Board – Bluff Rate to fund costs within the Bluff
                  Community Board
                                                                                   2011/12        2010/11
      Bluff Community Board Base Rate                                     0.00035230 / $     0.00035330 / $




      (7)     Land Within the Redmayne Road Drainage District (Map G).
              Drainage Rate - Redmayne Road to fund drainage operational costs.
                                                                            2011/12               2010/11
      Drainage Redmayne Road Base Rate                                              $75.47          $81.75




148
(c)      Targeted Rates Payable Where a Service is Provided or Available for
         Provision by Council




                                                                                                   Introduction
         The following rates are payable on all rateable land where the service
         is provided or available to be provided. In the provision of water,
         sewerage and refuse disposal services these rates also apply to those
         non-rateable rating units as specified in Section 9 and Parts 1 and 2
         of Schedule 1, Local Government (Rating) Act 2002. There are two




                                                                                                   Council Activities
         categories for each rate – Residential and Non-Residential.


         Non-residential means rateable land included in the Rating Information
         Database as rating units being used for Commercial, Industrial or
         Other purposes. Rest Homes, Hospitals, Schools, Kindergartens and
         Playcentres, Halls, Services and Sports facilities are included in the
         Non-residential category.




                                                                                                   Organisations
                                                                                                     Controlled
                                                                             2011/12     2010/11




                                                                                                       Council
Water Base Rate                                                                $286.99   $282.43
Sewerage Base Rate                                                             $207.96   $200.36
Drainage Base Rate                                                              $92.95    $94.63




                                                                                                   Fees & Charges
The following differentials will be applied to these targeted rates:
»        Water – those rating units designated Residential will meet 84% of the
         total Water rate. Non-residential rating units will meet 16%.
»        Sewerage – those rating units designated Residential will meet 75% of
         the total Sewerage rate. Non-residential rating units will meet 25%.
»        Drainage – those rating units designated Residential will meet 75% of the
         total Drainage rate. Non-residential rating units will meet 25%.
                                                                                                   Management

»        All rateable land designated Residential will be set a fixed charge for
                                                                                                     Financial


         each of the water, sewerage and drainage rates.
»       Vacant rating units which are able to be connected to a Water, Sewerage
         or Drainage system but have not been connected will be charged half
         the amount of the above charge.
»        All rateable land designated as Non-residential will be set a fixed charge
         for each of the water, sewerage and drainage rates based on a range of
         capital values as follows:




                                                                                                   149
                                                                                                   149
          Group                                                                                    %
          A       Less Than $50,000                   =     Base Fixed Charge                    - 20
          B       From $50,001 - $100,000             =     Base Fixed Charge
          C       $100,001 – $200,000                 =     Base Fixed Charge                    + 20
          D       $200,001 – $400,000                 =     Base Fixed Charge                    + 40
          E       $400,001 – $1,000,000               =     Base Fixed Charge                   + 100
          F       $1,000,001 – $3,000,000             =     Base Fixed Charge                   + 200
          G       $3,000,001 – $5,000,000             =     Base Fixed Charge                   + 300
          H       $5,000,001 +                        =     Base Fixed Charge                   + 400


      Refuse Collection Rate is to fund the provision of refuse removal and kerbside
      recycling services in the serviced area. This targeted rate will be set by applying
      a fixed change for each rate on all rateable land within the serviced area which
      receives or is able to receive the service. The General Waste Management Rate is
      17% of the total solid waste service cost and is the education and administration
      service provided to all ratepayers. This rate is borne by all ratepayers.
      Differentials will be applied to these targeted rates as outlined above. Each
      additional wheelie bin provided for refuse or recycling costs $150 per annum.


      Additional Rating Policies
      In addition to the policy and method of collecting rates as outlined above the
      following additional policies will also be applied.
                                                                                      2011/12           2010/11
      Refuse Collection Base Rate                                                     $172.28           $110.70
      Recycling Base Rate                                                               $0.00            $71.86
      Additional Wheelie Bin                                                          $150.00                $0
      General Waste Management Rate                                                    $30.97                $0




      Rating of Utilities
      Utilities as specified in the Rating Information Database will be charged only the
      following rates:
      »           General Rate
      »           Resource Management Rate
      »           Roading Rate
      »           Parks and Reserves Rate
      »           Cemeteries Rate
      »           Libraries Rate
      »           Pools Rate
      »           Regional Heritage Rate
      All utilities are rated as industrial properties at their full capital value.



150
Rating of Non-Rateable Land
Rating Units which are deemed to be non-rateable under the Local Government
(Rating) Act 2002 will be rateable for water, sewerage and refuse collection




                                                                                    Introduction
where these services are provided (Section 9 of that Act).


These rating units will be assessed in the same manner as other ratepayers and
according to their Residential or Non-residential status. Churches, community
groups, residential homes and pensioner housing will be classified as Residential




                                                                                    Council Activities
for this purpose. All other non-rateable rating units will be classified as
Non-residential.


Water Charge
Water user charges based on metered consumption may also be made for water
consumed by rating units, other than private residential rating units. This
targeted rate will be charged by invoice, on a three monthly basis.




                                                                                    Organisations
                                                                                      Controlled
Industrial




                                                                                        Council
The maxiumum value on which an industrial property is rated is $15,000,000.




                                                                                    Fees & Charges
                                                                                    Management
                                                                                      Financial




                                                                                    151
                                                                                    151
      Total Rates to be Collected
      Note: All 2010/11 are stated at 15% GST for the whole year.
                                                                         2011/12         2010/11
                                                                    GST inclusive   GST inclusive
                                                                                $               $
      General Rate                                                     7,461,609       6,562,569
      Resource Management                                              1,404,788       1,215,451
      Roading                                                          5,412,857       5,296,534
      Parks and Reserves                                               5,488,985       5,474,363
      Cemeteries                                                         255,983         270,604
      Libraries                                                        4,176,548       4,176,479
      Pools                                                            1,802,937       1,803,335
      Regional Heritage                                                  700,458         714,081
      Footpaths                                                        1,691,780       1,596,285
      Street Lighting                                                    504,881         504,881
      Transport                                                          864,288         873,501
      Sewerage                                                         5,616,315       5,383,699
      Drainage                                                         2,481,339       2,572,806
      Drainage                 Makarewa                                   12,662          10,110
                               Myross Bush                                 8,998           8,443
                               Redmayne Road                               2,415           2,616
      Refuse Collection                                                3,617,951       2,324,866
      Recycling                                                                0       1,494,282
      Waste Minimisation Fee                                             741,026               0
      Water                                                            6,573,214       6,442,322
      Economic Development                                                63,250          63,250
      Vibrant                                                             92,000          92,000
      Community Centre         Awarua                                      2,331           2,187
                               Makarewa                                    1,758           1,758
                               Myross Bush                                15,698          12,819
                               Otatara                                     7,555           6,905
      Bluff Town Hall                                                      8,183           8,144
      Bluff Community Board                                               82,455          81,765
      Net Rates                                                      49,092,264      46,936,055




152
                                                                                           Makarewa




                                                                                                                                                                                                                                                        Introduction
                                                                                              Lorneville



                              Makarewa River
                                                                                                                                               Myro ss Creek


                                                          West Plains
                                                                                                                                                 Myross Bush



                                                                                                                                  Rive r
                                                                                                                  Waih op ai




                                                                                                                                                                                                                                                        Council Activities
                                     Waikiwi Stream
                                                                                                                                                                         Kennington




                                                                                                   INVERCARGILL                                  Otepuni Creek




                                                      Otatara                                                                               Kingswell Creek

                      Oreti                                                                                                                                                              Waimatua
                      Beach




                                                                                                                                                                                                                                                        Organisations
                                                                                                                                                                                                                                                          Controlled
                                                                                                                                                                                                                                                            Council
                                                                                                                                            Waimatua or Duck Creek

                                          Oreti River

                                                                                                                                           Woodend                  Motu Rimu



                                                                                  New River Estuary
                                                                                                                                                  M
                                                                                                                                                  M
                                                                                                                                                     ok




                                                                       Sandy
                                                                                                                                                      ko
                                                                                                                                                        tu




                                                                       Point
                                                                                                                                                        au
                                                                                                                                                             St
                                                                                                                                                             S




                                                                                                                                                                                                                                                        Fees & Charges
                                                                                                                          Awarua
                                                                                                                                                             re
                                                                                                                                                               am




                                                                                                                 Wa
                                                                                                                      ip a
                                                                                                                          ka
             Omaui                                                                                                             C re
                                                                                                                                      ek
             Island
                                                                                                                                                                                                    Awarua Plains

                                  Omaui



                                                        Mokomoko
                                                          Inlet

                                                                             Greenhills                                                                                                                     Muddy
                                                                                                                                                                                                            Creek



                                                                                 Colyers Island
                                                                                                                                                                                                                                                        Management
                                                                                                                                                                                      Awarua Bay
                                                                                                                                                                                                                                                          Financial
                                                                                          Tikore
                                                                                          Island

                                                                Greenpoint                            Bluff Harbour


                                                                               Ocean
                                                                               Beach

                                                                                                                      Tiwai
                                                                                                                      Point


                                                                                           Bluff

                                                                                                                               Stirling
                                                                                                    Bluff Hill                 Point
Legend                                                                                             Motupohue


     Urban Rateable Land

     District Boundary

     Roads

     Railway
                                                                                                                                                                       Dog Island




                                       Map A
                                                                               Urban Rateable Land - Invercargill and Bluff
                                                                                                                                                                                                                           ±
                                                                                                                                                                                                            Information shown is the currently
                                                                                                                                                                                                            assumed knowledge as at Date Printed.
                                                                                                                                                                                                            If information is vital, confirm with the
                                    Current as at : 1/3/2009
                                                                                                                                                                                                            Authorative Owner. E & O.E




                                                                                                                                                                                                                                                        153
                                                                                                                                                                                                                                                        153
                                                                                                                       NORTH RD
                                                                STEEL RD             WEST PLAIN S RD




                                                                                                                                                                 BAINF IELD RD




                                                                                                                                                                                                                                                                                                                                B
                                                                                                                                                                                                                                                                                                                                BA
                                                                                                                                                                                                                                                                                                                                   IN
                                                                                                                                                                                                                                                                                                                                     FIE
                                                                                                                                                                                                                                                                                                                                     F
                                                                                                                                                                                                                                                                                                                                     LD
                                                                                                                                                                                                                                                                                                                                       RD
                                                                                                                                  NORTH RD




                                                                                                                                                                                            QUEEN
                                                                                                                                                                                            QUEEN S DRV
                                                       Y   RD
                                                    BA

                                                                                                                                                                                                                                                               LAYAR D ST




                                                                                                                                                                                                                                                                    HERBE RT ST
                                                                                                                                                                             HERBE RT ST




                                                                                                                                                                                                                                                                                                                                           RA
                                                                                                                                                                                                                                                                                                                                            AC
                                                                                                                                                                                                                                                                                                                                              EC
                                                                                                                                                                                                                                                                                                                                              OU
                                                                                                                                                                                                          QUEEN S DRV




                                                                                                                                                                                                                                                                                                                                               UR
                                                                                                                                                                                                                                                                                                           ST




                                                                                                                                                                                                                                                                                                                                                  S
                                                                                                                                                                                                                                                                                                        EW




                                                                                                                                                                                                                                                                                                                                                   ER
                                                                                                                                                                                                                                                                                                    R
                                                                                                                                                                                                                                                                                                 ND
                                                                                                                                                                 KELVIN ST




                                                                                                                                                                                                                                                                                             A                                                                                                                          D
                                                                                                                                                                                                                                                                                          ST                                                                                                                          TR




                                                                                                                                                                                                                                                                                                                                                     D
                                                                                                                                             DEE ST
                                                                                                                                             DEE ST




                                                                                                                                                                                                                                                                                                                                                                                                                  S
                                                                                                                                                                                                                                                                                                                                                                                                               EA
                 D
              AR
          TA R




                                                                                                                                                                                                                                                                                                                ST
      OT A




                                                                                                                                                                                                                                                                                                           W
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                                                                                                                                                                                                                                                                                                         RR
                                                                                                                                                                                                                                                                                                    YA
                                                                                                                                  AVE
                                                                                                                 VIC TOR IA                                                     GALA ST                                                                                                                                                 Y   ST
                                                                                                                                                                                                                                                                                                                                     TA



                                                                                                                                                                               YARROW ST




                                                                                                                                                                                                                                                                                                                                                                RO
                                                                                                                                                                                                                                                                                                                                                                 OC
                                                                                                                                                                                                                                                                                                                                                                 KD
                                                                                                                                                                                                                                                                                                                                                                   AL
                                                                                                                                                                                                                                                                                                                     ING




                                                                                                                                                                                                                                                                                                                                                                    L ER
                                                                                                       BOND ST




                                                                                                                                                                                                                                                                                                                         LE W
                                                                                                                                                                                                                                                                                                                          E




                                                                                                                                                                                                                                                                                                                                                                       D
                                                                                                                                                                                                                                                                     LI ND
                                                                                                                                                                                                                                                                        N




                                                                                                                                                                                                                                                                                                                         OO


                                                                                                                                                                                  TAY ST
                                                                                                                                                                                                                                                                                                                                                                                                                                      RD
                                                                                                                                                                                                                                                                      ISFA




                                                                                                                                                                                                                                                                                                                           DR
                                                                                                                                                                                                                                                                                                                           D



                                                                                                                                                                                                                                                                                                                                                                                                                               IK A
                                                                                                                                                                                                                                                                                                                                                                                                                          AM
                                                                                                                                                                                                                                                                                                                                                                                                                        ER
                                                                                                                                                                                                                                                                                                                                D




                                                                                                                                                                                                                                                                                                                                                                                                                   OT
                                                                                                                                                                                                                                                                           R
                                                                                                                                                                                                                                                                         NE S
                                                                                                                                                                                                                                                                          E T




                                        Invercargill Airport
                                                                                                                                                                                                                                                                                                        TWEED ST

                                                                                                                                                                              TWEED ST
                                                                                                                                                                                                                                                                             MORT ON ST




                                                                                                                                                                                                                                                                                                            CENTR E ST
                                                                                                                                                      CLYDE ST
                                                                                                                                                            ST




                                                                                                                                                                                                                        ELLES RD




                                                                                ST
                                                                       E   AD
                                                                    ST
                                                                                                                                                                                                                                                                                                                                                  ST
                                                                                                                                                                                                                                                                             SATUR N ST




                                                                                                                                                                                                                                                                                                                                                 T
                                                                                                                                                                                                                                                                                                                                             EN
                                                                                                                                                                                                                                                                                                                                              G
                                                                                                                                                                                                                                                                                                                                           RE




                                                                                                                                                                                                                                                                                                                                                         TRAMW AY RD

                                                                                                                                                                                                                                              TRAMWAY RD

                                                                                                                                                                                                                                              MO
                                                                                                                                                                                                                                                   UL
                       DUNNS RD                                                                                                                                                                                                                         SO
                                                                                                                                                                                                                                                           N
                                                                                                                                                                                    ELIZABETH ST                                                               ST
                                                                                                                                                                                                                                                                                                                                                                                ROCK DALE RD




                                                                                                                                                                                                                                              MCQUARRIE ST
                                                                                                                                                                                                                                                                                                                                                                                     DALE




                                                                                                                                                                                                                                                                                                                                      SC
                                                                                                                                                                                                                                                                                                                                         O   TT
                                                                                                                                                                                                                                   ELLES RD




                                                                                                                                                                                                                                                                                                                                                  ST
                                                                                                                                                                              BL
                                                                                                                                                                               LU
                                                                                                                                                                                FF
                                                                                                                                                                                  HW
                                                                                                                                                                                     Y




                                                                                                                                                                                                                                                                                                                                                                                                   GO
                                                                                                                                                                                                                                                                                                                                                                                                              RG
                                                                                                                                                                                                                                                                                                                                                                                                                   ER
                                                                                                                                                                                                                                                                                                                                                                                                                      O   AD
                                                                                                                                                                                                                                                                                                                                                                                                                            -IN V
                                                                                                                                                                                                                                                                                                                                                                                                                                 ER
                                                                                                                                                                                                                                                                                                                                                                                                                                      CA
                                                                                                                                                                                                                                                                                                                                                                                                                                         RG
                                                                                                                                                                                                                                                                                                                                                                                                                                            IL   LH
                                                                                                                                                                                                                                                                                                                                                                                                                                                   WY
                                                                                                                                                                                                                                                                                                                                                                                               BOUN DARY RD




                     Legend

                           Transport Rateable Land
                                                                                                                                                                                                                                                           BL
                                                                                                                                                                                                                                                           B
                                                                                                                                                                                                                                                              U FF




                           District Boundary
                                                                                                                                                                                                                                                                    HW
                                                                                                                                                                                                                                                                      Y




                           Road

                           State Highway

                           Railway




                                                                    Map B
                                                                                                                                                                     Transport Rateable Land                                                                                                                                                                               Information shown is the currently
                                                                                                                                                                                                                                                                                                                                                                                                               ±
                                                                                                                                                                                                                                                                                                                                                                           assumed knowledge as at Date Printed.
                                                                                                                                                                                                                                                                                                                                                                           If information is vital, confirm with the
                                                           Current as at : 1/3/2009
                                                                                                                                                                                                                                                                                                                                                                           Authorative Owner. E & O.E




154
                                  ORION RD WEST                                                                                                                                                 ORION RD EAST
                                                                                                         283                   269             257        253                                  223                                    201    185                173     171          157
                                  317                                                                                                                                                                                   217                          183




                                                                                                                                                                                                                                                                                                                        Introduction
                                                                                                                                                                                              - 233

                                                                                               1927
                                                                                1932           1931
               142                                                                                                                                              143

                                                                                                                                                                                                                                                                                                      143
                                                                                                            1943                                                 139
                                                                                1938                                                                                                    136                                                                                       139
                                                                                                                                                                                                                                                                                                     123
                                                             1946A               1946*                      1953
                                                                                                                                                                127
              128                                                                                                                                                                  124
                                                                                 1954*                       1957                                                119
              118
                                                                                                             1959
                                                                                                                                                                  117




                                                                                                                                                                                                                                                                                                                        Council Activities
                                                                                1964
                                                                                                           1965                                                  115
                   110
                                                                                                                                                                                    112
                                                                                1970                        1977                                                 101
                   108


                                                                                 1984                       1981                                                     93
                   96

                                                                                  1986               1985
                                                                                  1990



                                                                                                                                                                           ACTAEON RD




                                                                                                                                                                                                                                                                                                           MINERVA RD
      CALYPSO RD




                                                                                        1993                                                                          89
                                                                            1992 - 1996                                                                                                  109          115     127             131     143     153         159    165 167                     181*
               1             11              21                  33        39 1998 1997                                   63         73              77           101            107
                                       FLORA RD WEST                                                                                                                                            FLORA RD EAST
                   2              12               22 28 32 36             42                                     56 - 64            66              84                                 106           116         124         130    144      154          164        168 172                  188
                                                       30 34                      2006

                                                        26                                                       2013




                                                                                                                                                                                                                                                                                                                        Organisations
                                                                                                                 2019




                                                                                                                                                                                                                                                                                                                          Controlled
                                                                                2022                                                                                  59                                                                            158                                               61




                                                                                                                                                                                                                                                                                                                            Council
                                                                                                                                                                                                                                                                                        55
                                                                                                                 2027
                                                                                         WINTON-LORNEVILLE HWY




                                                                                                                                                                     51
             48                                                                   2030
                                                                                                                                                                                        48
             44                                                                   2034
                                                                                                                 2039
                                                                                                                                                                                                              40                     38
             42
             30                                                                                                  2041                                                31                 36
                                                                                2044
                                                                                                                                                                                                                                                                                                      47
                                                                                2048                             2051                                                                   22
                   26




                                                                                                                                                                                                                                                                                                                        Fees & Charges
                                                                                2060                              2057                                                15
                   20
                                                                           15     2064
                                                                            MOIR ST




                                                                           13     2066
                                                                           11     2068
                                                                            9     2070
                                                                            7     2072
                                                                            5     2074
                                                                                  2076                                                                                                       111             129               131          143            153             171                  185
                         1               17                  33       37          49                                           61                         89
                                   POMONA RD WEST                                                                                                                                              POMONA RD EAST
           2 4                8         24                                  38                                                 68          70             88    98        104                          116               126




                                                                                                           2097                                                                         110


                                             16
                                                                                2112                              2111
                                                                                                                                                                                                                                                                                                                        Management
                                                                                                                                                                                                                                                                                                                          Financial

                                                                                2122


                                                                                                      2125
                                                                                2126
                                                                                                      2129                     2127

                                                                                                                        2135
                                                                                2132                   2139
                                                   24
                                                                                                                     2137
                                                                                 2150                                                                                                                                                                             Legend
                                                                                                                                                                                                                                                                             District Boundary
                                        30                                             2158                                                                                                                                                                                  Legal Boundaries
                                                                   2/12                                                                         27
     W ALLA C                                            22 20                         2162                                                                                                                                                                                  Unformed Road
                             ETOW N-L                            4/12 12    8 6
63                                                OR NEVIL
                        49        39          31                  LE H WY                                                                                                                                                                                                    Drainage District
                                                        25
                                                                                                                                LO RN E-D
                                                                                                      871 6 8
                                                                                                              10                                AC RE R                                  59
                                                                                                      869                       16        18            D                                                    67



                                                             Map C
                                                                                                                 Rateable Land Within the Makarewa Drainage Area
                                                                                                                                                                                                                                                                                      ±
                                                                                                                                                                                                                                                                       Information shown is the currently
                                                                                                                                                                                                                                                                       assumed knowledge as at Date Printed.
                                                                                                                                                                                                                                                                       If information is vital, confirm with the
                                                        Current as at : 1/3/2009
                                                                                                                                                                                                                                                                       Authorative Owner. E & O.E




                                                                                                                                                                                                                                                                                                                        155
                                                                                                                                                                                                                                                                                                                        155
                                                                                                MCGILVRAY RD
                                                                         55*                    49                23                 5


                                                                                                                                                                428

                                                                                                                                      407
                                                                                                              21                     405

                                                                                                                                         403




                                                                                                                                                       388


                                                                                                                                                       372




                                                                                                                                                                    350
                                                                                                                                                    342


                                                                                                                                         331
                                                                                                                                                                                                                                                                                                   131                  141
                                                                                                                                            MILL RD NORTH




                                                                                                                                                                                                                                                                                                               133*                                                                           221                        233
      421                           455       457                                                                      523                                      7                      23          39 41*
                  431                                                    485*
      420                                             MCIVOR RD                                                                                                                                                                                                                  MYROSS RD
                             440                      464         478         490         500        510                                                                          20                              48                58       72         76         84   100     102     118         130         134                                                   192       202               212        232
                                                                                                                                                                                                  34
                                                                                                                                                                                                                                                                                                                      148      154     170      176         190
                                                                                                                                                       308
      422                                                                                                                                299



                                                                                                                                                       290                                                                        42
                                                                                                                                                                                                                        35
                                                                                                              289                                       288
       426                                                                                                                                                                                                                    34                                         184C 184B
                                                                                                                                                                                                                         SIMON RD




                                                                                                                                         279                                                                            29
                                                                                                                                                     276                                                                                                                                                                       158A     160                                    92
                                                                                                                                                                                                                                                                                                                                                                                         90
                                                                                                                                                                                                                                  20                                     184D 184A                                             158B                                 94
                                                                                                                                                                    274                                                 19                                                                                154
                                                                                                                             304                     272

                                                                                                                                                                                                                         9     12                                                                                                                                             88
                                                                                                                                                                                                                                                                                                                                                      108         100                                                  54
                                                                                                                                          261
                                                                                                                                                                                   264             246                                                                                                                                                                        80
                   398       384             376             358*       350           340              326             310                                      276                                                                                 210       200        186          180                162      148                 128
                                                                                                                        DRYSDALE RD                                                                251            241               227           215        205               183          173
                                                                                                                                                                                                                                                                                                        DRYSDALE RD
                                                                                                                                                                                                                                                                                                        155       149
                          389             379                359*       351           337             317              303          299                                      275        267
                                                                                                                                                                                                                                                                                                                                        121                       93                                    56
                                                                                                                                                                                                                                                                                                                                                      103                                                                48
                                                                                                                                                                                                                                                                                                                                                                            1/14 14
                                                                                                                                                        238
                                                                                                                                          237                                                                                                                                                                                                                                      FOX RD
      22*         620                                                                                                                                                                                                                                                                                                                                                  21           15                                        53
                                                                                                                                           225 230
                                                                                                                                                                                                                                                                                                                                                      187

                                                                                                                                                                                                                                                                                                                                                                                         5
                                                                                                                                                                                                                                                                                                  123                    145
                                                                                                                                   714                              9              17*                       55                57*                73*                   89*     107                                                   161
      602          618                        640           662                     684                     706
                                   632
                                                                RD
                                                      BAINFIELD677                                                                                                                                                                                                             FAIRWEATHER RD                                                 171
                   619             637        641                                                699              703              723                      2               12*             26*        34*         44*                      62*     72*        84*       94*    110           124                     138                             175
                                                                                                                                                                                                                                                                                                         130                   158
                                                                                                                                               MILL RD NORTH




       609                                                                                                                                                                                                                                                                                                                              170                                                       219         231
                                                                                                                                                                                                                                                                                                                                                       182
                                                                                                                                                                                                                                                                                                                                                                       198         210        216*       228             240
                    623/RC                          653/RC
                                             641/RC
                                   637/RC                    665/RC

                                                                                                                                                                                                                                                                                                                                        168          180
                                                                                                 699/RC                                                                                                                                                                                                                                                            192

                                                                                                                                          165*                                                                                                                                                    126 128                 150152
                                                                                                                                         163

                                                                                                                                                                150*




                                                                                                                                                                                                                                                                                                                                                                                                                   471
                                        40
                                   37
                                                                                                                                           106
                                                     260/RC 264/RC
                                                                                                                   310 312
                                        G IL




              Legend
                                            L IE




                                                                                                                             308
                          216                                                                                                                     92
                                                                                                                                                                                                                                       61
                                             SR




                                                                                                                         301                                                                                                                                                                                                                                                                          5*
                    214    District Boundary                                          274
                                                                                                 282                                                                                                                                                                                                                                                                                              1
                                                                                                                                                                                                                                                                                                                                                                              RD
                                                                          264                                299                            93          84                                                                                                                                                                                                                                   2*         11
                                              D




                                                               260                                     285
                                                                              D                                                                                                                                                                                                                                                                                   403*
                           Legal Boundaries LA Y R                                                                                                                                                                                                                                                                                                                       T
                                                                                                281
                                                                                                                                                                                                       RD                                                                                                                                                             AS
                                                                                                                                                                                                                                                                                                                                                                                                      18 21
                                          D 261       FIN
                                                                                                                                                                                                                             52
                                                                                                                                                                                        WN                                                                                                                                                                        E                                    22 23 120
                                218
                                                                                                                                                                        5          B RO                  30                                                                                                                                            385                                    6
                         210 Unformed Road                                                                                                                                                                                                                                                                                                                                               12 8
                                                                                                                                                     70                               24                                                                                                                                                                                                                                7
                                  221
                   208                                                                                                                                                                                                                                                                                                                                                             D                                   6 9
            190           215
                           Drainage District
                                                                                                                                                                                                                             44
                                                                                                                                                                                                                                                                                                                                              373*                    LE        WR                                 8
                                                                                                                                                                                                                                                                                                                                                                                                                          11
            185
                   203
                                                                                                                                                                                                                                                                                                                                                                   MC
                                                    24 19                                                                                                                                                                    42
                                                                                                                                                                                                                                                                                                                        341
                                   219                                                                                                                          6
                                                                                                                                          16




                                                                              Map D
                                                                                                                         Rateable Land Within the Myross Bush Drainage Area
                                                                                                                                                                                                                                                                                                                                                                                ±
                                                                                                                                                                                                                                                                                                                                                            Information shown is the currently
                                                                                                                                                                                                                                                                                                                                                            assumed knowledge as at Date Printed.
                                                                                                                                                                                                                                                                                                                                                            If information is vital, confirm with the
                                                                        Current as at : 1/3/2009
                                                                                                                                                                                                                                                                                                                                                            Authorative Owner. E & O.E




156
                                                                                     Makarewa
                                                                                   Makarewa
                                                                                  Community
                                                                                  Centre Area




                                                                                                                                                                                                                                                          Introduction
                                                                                            Lorneville



                                Makarewa River
                                                                                                                                               Myro ss Creek


                                                            West Plains                                                                  Myross Bush
                                                                                                                                               Myross Bush
                                                                                                                                         Community
                                                                                                                                         Centre Area
                                                                                                                                Rive r
                                                                                                                Waih op ai




                                                                                                                                                                                                                                                          Council Activities
                                       Waikiwi Stream
                                                                                                                                                                           Kennington




                                                                                                 INVERCARGILL                                     Otepuni Creek




                                                       Otatara
                                                       Otatara                                                                               Kingswell Creek
                                                     Community
                                                                                                                                                                                           Waimatua
                        Oreti
                        Beach
                                                     Centre Area




                                                                                                                                                                                                                                                          Organisations
                                                                                                                                                                                                                                                            Controlled
                                                                                                                                                                                                                                                              Council
                                                                                                                                            Waimatua or Duck Creek

                                            Oreti River

                                                                                                                                           Woodend                    Motu Rimu



                                                                                New River Estuary
                                                                                                                                                  M




                                                                      Sandy
                                                                                                                                                     ok




                                                                                                                                                  Awarua
                                                                                                                                                        o
                                                                                                                                                        ot




                                                                      Point
                                                                                                                                                         a
                                                                                                                                                         a u




                                                                                                                                                Community
                                                                                                                                                           St




                                                                                                                        Awarua




                                                                                                                                                                                                                                                          Fees & Charges
                                                                                                                                                               re
                                                                                                                                                                 am
                                                                                                                                                                 a




                                                                                                                                                Centre Area
                                                                                                               Wa
                                                                                                                    ip a
                                                                                                                        ka
               Omaui                                                                                                         C re
                                                                                                                                    ek
               Island
                                                                                                                                                                                                      Awarua Plains

                                    Omaui



                                                          Mokomoko
                                                            Inlet

                                                                           Greenhills                                                                                                                         Muddy
                                                                                                                                                                                                              Creek


                                                    Bluff                      Colyers Island
                                                  Town Hall
                                                    Area
                                                                                                                                                                                                                                                          Management
                                                                                                                                                                                        Awarua Bay
                                                                                                                                                                                                                                                            Financial
                                                                                        Tikore
                                                                                        Island

                                                              Greenpoint                            Bluff Harbour


                                                                              Ocean
                                                                              Beach

                                                                                                                    Tiwai
                                                                                                                    Point


                                                                                         Bluff

                                                                                                                             Stirling
                                                                                                  Bluff Hill                 Point
                                                                                                 Motupohue
Legend

     District Boundary

     Roads

     Railway

     Community Centre and Town Hall Areas
                                                                                                                                                                         Dog Island




                                         Map E                             Rateable Land Within the Specified Locations
                                                                           For Community Centres and Bluff Town Hall
                                                                                                                                                                                                                             ±
                                                                                                                                                                                                              Information shown is the currently
                                                                                                                                                                                                              assumed knowledge as at Date Printed.
                                                                                                                                                                                                              If information is vital, confirm with the
                                      Current as at : 1/3/2011
                                                                                                                                                                                                              Authorative Owner. E & O.E




                                                                                                                                                                                                                                                          157
                                                                                                                                                                                                                                                          157
                                                                                              Makarewa




                                                                                                 Lorneville



                                 Makarewa River
                                                                                                                                           Myross Creek


                                                             West Plains                                                                               Myross Bush



                                                                                                                     Waihopai River



                                        Waikiwi Stream
                                                                                                                                                                     Kennington




                                                                                                                                               Otepuni Creek




                                                         Otatara                                                                          Kingswell Creek

                        Oreti                                                                                                                                                        Waimatua
                        Beach




                                                                                                                                          Waimatua or Duck Creek

                                             Oreti River

                                                                                                                                         Woodend               Motu Rimu



                                                                                     New River Estuary



                                                                                                                                                   Mokotua
                                                                          Sandy                                                                    Stream
                                                                          Point
                                                                                                                         Awarua



                                                                                                                    Waipaka
               Omaui                                                                                                  Creek
               Island
                                                                                                                                                                                                Awarua Plains

                                     Omaui



                                                           Mokomoko
                                                             Inlet

                                                                                Greenhills                                                                                                              Muddy
                                                                                                                                                                                                        Creek



                                                  BLUFF                             Colyers Island


                                                  WARD
                                                                                                                                                                                  Awarua Bay
                                                                                             Tikore
                                                                                             Island

                                                                   Greenpoint                            Bluff Harbour


                                                                                  Ocean
                                                                                  Beach

                                                                                                                      Tiwai
                                                                                                                      Point


                                                                                              Bluff

                                                                                                                              Stirling
                                                                                                       Bluff Hill             Point
                                                                                                      Motupohue

      Legend

           District Boundary

           Roads

           Railway

           Bluff Ward                                                                                                                                              Dog Island




                                          Map F                                                                                                                                                                             ±
                                                                            INVERCARGILL CITY DISTRICT                                                                                                    Information shown is the currently
                                                                                                                                                                                                          assumed knowledge as at Date Printed.
                                                                                                                                                                                                          If information is vital, confirm with the
                                Date Printed : 24/2/2009                                                                                                                                                  Authorative Owner. E & O.E




158
                                                                                                                                                                                                                                                                                      Introduction
                                               283
                                              283E                   Myross Creek


                                                       285




                                                                                                                                                                                                                                                                                      Council Activities
                                                                                                      315
                                          281
                                 275
            253255
                                                                    293
                                                 284
                            268
                                                                   292
                                                                                           305

                                                                                     302                                                                                                                              403
                                                                                                                                                                                    397
98                                                                                                                327
                                                                                                      320                331
                                                                                                            322                                                                            399                401


                                                                                                                                              MC
                                                                                                                                                 IV   OR                                                405
                                                                                                                                        342
                                                                                                                                                         R   OA
                                                                                                                                                                  D


                                                                                                                                                                                  377
                                                       57
                                         55                                                                                                                                 374




                                                                                                                                                                                                                                                                                      Organisations
                                                                                                                                                                                                 395
                                                                                                                                                                                                       407




                                                                                                                                                                                                                                                                                        Controlled
                                                      53A
                                                                                                                                                                                          390




                                                                                                                                                                                                                                                                                          Council
                                                                                                                                                                                                 396
     68                                                                                                                                                                                                                                                                         455
                                                                                                                                                                                                                                  421
     66                                                                                                                                                                                                                                           431
                                                       53
NEAS ROAD




                                                                                                                                                                                           392                                420                                       440
                                                                         69
                                                                                                 71
                                                        51                       70
                                                                                                                  87
                                                                                                                  RE
                                                                                                                     D   MA                                       119
                                                                                                                              YN 97                                                             394                               422
                                                                                                                                ER
                                                            45                                                           96        OA
                                                                                                                                        D     105
                                                            41                                                                      102




                                                                                                                                                                                                                                                                                      Fees & Charges
                                                                                                                                                               121

                                                             29    28                                                                                                 130
                                                                                                                                                             124
            32
            30                                                                                                                98
                                                                                                                                                                                                                                        426

                                                                                                                                                                      128

                                                                                                                                               112
                                                                    12*



      7
                                                                     458
                                                440                                                     466
             416       426 428                                                 468
                                                             455                                                                                                                                       37                                                 398            384
                 415             431    439                                                                                                                                                                                       41
                                                                                                                                                                                                                                                                 DRYSDALE ROAD
                                                                                                                                               480                                                              39
                                                                                                                                                                                                                                                                                      Management
                                                                                             478                                                                                                                                                                     389
                                                                                     479
                                                                                                                                                                                                                                                                                        Financial

                                                                                                        496

                                  433     437
                                                                                                                          498                                                                                                                              620
                                                                                                                                                                                                                                        22*
                                                                                                                                                       536

                                                                                                                                                                                                                10*
                                                                                                                                                                                                                        SAVILLE ROW




                                                                                                            503

                                        435                                                 511                               510
                                                                                                             515
     Legend
                                                                                                                                                                                                                                                              618 622
                                                                                                                                                                                                                                          602
                   Waterway                                                                                                                                                               578         588
                                                                                                                                                                                  568
                                                                                                                                                         538                                    BAINFIELD ROAD                                                 619 623
                   Legal Boundaries                                                                                                                                         551
                                                                                                                                                                                                           591                                609

                   Drainage District
                   Unformed Road                                                                                                    529                                                                               595
                                                                                                                                                                                                                                                         619/RC623/RC




                                                 Map G
                                                                              Rateable Land Within the Redmayne Road Drainage Area
                                                                                                                                                                                                                                                        ±
                                                                                                                                                                                                                                        Information shown is the currently
                                                                                                                                                                                                                                        assumed knowledge as at Date Printed.
                                                                                                                                                                                                                                        If information is vital, confirm with the
                                              Current as at : 1/3/2009
                                                                                                                                                                                                                                        Authorative Owner. E & O.E




                                                                                                                                                                                                                                                                                      159
                                                                                                                                                                                                                                                                                      159
                                                                                                                                                                                                                                                                                       SYDNEY ST
                                                                                                                                                                                                                                                     MELBOURNE ST
                                                           FOX ST




                                                     THAMES ST                                                                                                                                                                                                                W   ST
                                                                                                                                                                                                                                                      D                    RE
                                                                                                                                                                                                                                                   AN




                                                                                                    KELVIN ST




                                                                                                                                                                                                                                                                                                   RITCH
                                                                                                                                                                                                                                                ST
                            LIFFEY ST




                                                                                                                                                                                                                                                                                                      STIE
                                                                            EARNSLAW ST




           VICTORIA AVE                                                              VICTORIA AVE

                                                                                                                                                         GALA ST




                                                                                                                                                                                                                          QUEENS DRV
                                                              DEE ST




                                                                                                                                                                                                                                                            MACMASTER ST
                                                                                                                             LEET ST




                                                                                                                                                                                                                                                                                          MARY ST
                                                                                                                                                               YARROW ST
                                                                                                      KELVIN ST




                                                                                                                                                                                                DOO N ST
                                                                                                                                        DEVERO N ST
                                    LEVEN ST




                                                                                                                                                                            JED ST




                                                                                                                       SPEY ST




                                                                                                                                                      DON ST




                                                                                                                                       ESK ST




                                                 TH                                                                                                                TAY ST
                                                   E
                                                           C RE
                                                                  S
                                                                                                                                                                                                           NESS ST




                                                                             WOOD ST


                                                                                                                                       FORTH ST




                                                                                                                                 TYNE ST
                                                                                                                                                                                                                                          ELLES RD
                                               LIDDEL ST




                                                                                                                                                                                     YTHAN ST
                                                                          CLYDE ST




                                                                                                                  NITH ST




                                                                                                                                                EYE ST
                                                                                                                                                                                                                NESS ST




                                                                                                                                        TWEED ST


      Legend
                                                                                                                                                                                                                                                                           TEVIOT ST
                 ANNAN ST
      ANNAN ST




                       Legal Boundaries
                                                                                                                                                TEVIOT ST
                       Vibrant Rateable Land




                                                                          Map H
                                                                                                                                 Vibrant Rateable Land
                                                                                                                                                                                                                                                                    ±
                                                                                                                                                                                                                                       Information shown is the currently
                                                                                                                                                                                                                                       assumed knowledge as at Date Printed.
                                                                                                                                                                                                                                       If information is vital, confirm with the
                                                                       Current as at : 1/3/2009
                                                                                                                                                                                                                                       Authorative Owner. E & O.E




160

				
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