Funding Impact Statement

Transcription

1 Funding Impact Statement FUNDING IMPACT STATEMENT The total estimated for Regional Council for 217/218 is $26,86,866. This will be funded from the following sources. These /financing sources are consistent with the Council s Revenue and Financing Policy. 216/ / /218 $ 4,91,343 General rates 4,774,768 4,318,287 2,626,15 UAGC 2,837,9 3,255,888 1,82,63 Targeted rates 1,865,532 1,699,487 7,47,44 Direct charges 8,58,874 8,728,451 2,45,93 Government grants 2,7,987 1,883,854 4,924,7 Dividends 5,417,17 5,417,17 1,5, Rent revenue 1,5, 1,93,93 Vested assets Gains on property revaluation 525, Finance income 525, 585, , Transfer from reserves 4, 4, (6,71) Transfer to reserves (147,969) (184,51) 26,21,42 Total 26,428,452 26,838,844 CAPITAL VALUE GENERAL RATE The Council proposes a general rate on the capital value on each rating unit in the. The estimated general rate (in cents in the dollar of capital value) for 217/218 is.1788 (GST inclusive). The Council proposes no differentials on the general rate. The general rate will be equalised between the three districts in (see page 54). The rates to be collected from each district are: New Plymouth and North Taranaki constituencies to produce $3,39,259 at a rate of cents in the dollar of capital value GST inclusive Stratford constituency to produce $527,134 at a rate of.2272 cents in the dollar of capital value GST inclusive South Taranaki constituency to produce $1,924,59 at a rate of cents in the dollar of capital value GST inclusive UNIFORM ANNUAL GENERAL CHARGE The Council proposes a uniform annual general charge of $6.95 (GST inclusive) on all separately used or inhabited parts of a rating unit in the to produce $3,262,654 (GST inclusive). Separately used or inhabited part of a rating unit (SUIP): A SUIP is defined as a separately used or occupied part of a rating unit and includes any part of a rating unit that is used or occupied by any person, other than the ratepayer, having a right to use or inhabit that part by virtue of a tenancy, lease, licence, or other agreement, or any part or parts of a rating unit that are used or occupied by the ratepayer for more than one single use. Separately used or inhabited for a residential rating unit includes a building or part of a building that contains, two or more separately occupiable units, flats or houses each of which is separately inhabited or is capable of separate inhabitation Separately used or inhabited for a small holding or farmland property rating unit includes a rural property/farm with multiple dwellings (e.g., a house is used by a farm worker) each of which is separately inhabited or is capable of separate inhabitation Separately used or inhabited for a commercial or industrial rating unit: means a building or part of a building that is, or intended to be, or is able to be, separately tenanted, leased or subleased for commercial An exception is made for motels/hotels as these are treated as one business even if each accommodation unit may be capable of separate habitation. This definition of SUIP only applies to the uniform annual general charge as the Council does not set a fixed charge for any other rates. Working with people caring for Taranaki 49

2 TARGETED RATES The following table summarises the types of targeted rate, the group of activities or activity funded by that targeted rate together with the matters and factors of the targeted rates. A targeted rate for passenger transport services on the capital value on each rating unit in the New Plymouth and North Taranaki constituencies of the Taranaki. The estimated targeted rate (in cents in the dollar of capital value) for 217/218 is.4873 GST inclusive to produce $927,262 (GST inclusive). Group of activities funded Hazard management Hazard management Transport Transport Transport Recreation, culture and heritage Type of rates Flood and river control works rate Flood and river control works rate Passenger transport services rate Passenger transport services rate Passenger transport services rate Yarrow Stadium rate Types of land to be funded the New Plymouth and North Taranaki constituencies of the South Taranaki constituency of the New Plymouth and North Taranaki constituencies of the Stratford constituency of the South Taranaki constituency of the New Plymouth and North Taranaki constituencies of Different categories Capital value Capital value Capital value Capital value Capital value Differential land value A targeted rate for passenger transport services on the capital value on each rating unit in the Stratford constituency of. The estimated targeted rate (in cents in the dollar of capital value) for 217/218 is.75 GST inclusive to produce $18,563 (GST inclusive). A targeted rate for passenger transport services on the capital value on each rating unit in the South Taranaki constituency of. The estimated targeted rate (in cents in the dollar of capital value) for 217/218 is.42 GST inclusive to produce $41,113 (GST inclusive). A differential targeted rate for Yarrow Stadium on the land value on each rating unit in the New Plymouth and North Taranaki constituencies of the Taranaki. The estimated targeted rate (in cents in the dollar of land value) for 217/218 for each differential category is: Group 1 Commercial and Industrial to produce $168,36 at a rate of cents in the dollar of land value GST inclusive Group 2 Residential to produce $159,64 at a rate of.2883 cents in the dollar of land value GST inclusive Group 3 Small holdings to produce $9,63 at a rate of.1686 cents in the dollar of land value GST inclusive Group 4 Farmland to produce $15,929 at a rate of.543 cents in the dollar of land value GST inclusive. The Council differentiates the Yarrow Stadium targeted rate based on land use. The differential categories are: The Council proposes the following targeted rates for 217/218: A targeted rate for flood and river control works on the capital value on each rating unit in the New Plymouth and North Taranaki constituencies of the Taranaki. The estimated targeted rate (in cents in the dollar of capital value) for 217/218 is.3924 GST inclusive to produce $746,61 (GST inclusive). A targeted rate for flood and river control works on the capital value on each rating unit in the South Taranaki constituency of. The estimated targeted rate (in cents in the dollar of capital value) for 217/218 is.576 GST inclusive to produce $58,912 (GST inclusive). Group 1: Commercial/industrial. All rating units that are used primarily for any commercial or industrial purpose. Group 2: Residential. All rating units with a land area of one hectare or less, not being rating units in Group 1, used for residential and related. Group 3: Small holdings. All rating units, not being rating units included in Groups 1 or 2, having a land area of more than one hectare but no greater than four hectares. Group 4: Farmland. All rating units, not being rating units included in Group 1, 2 or 3, having a land area in excess of four hectares /218

3 FUNDING IMPACT STATEMENT The above figures are estimated cents in the dollar rates based upon the required revenue to be from each type of rate and the current capital or land value of the or sub-part of the. The final capital or land value of the or sub-part of the used to set the rates (in July 218) will be different from the values used in the above calculations. The effect on the cents in the dollar rates is not expected to be significant. The Council does not require a lump sum contribution for any of its targeted rates. DUE DATES All rates will be payable in four equal instalments due on: Instalment 1: 3 August 217. Instalment 2: 29 November 217. Instalment 3: 28 February 218. Instalment 4: 3 May 218. PENALTIES AND DISCOUNTS Pursuant to Section 57 and 58 of the Local Government (Rating) Act 22 the following penalties on unpaid rates will be. A charge of 1 percent on so much of any instalment that has been assessed after 1 July 217 and which remains unpaid after the due date for that instalment. The Council will charge a penalty of 1 per cent on any rates that were assessed or levied in any previous financial years and which remain unpaid on 3 September 217 and a further additional penalty of 1 per cent on any rates that were assessed or levied in any previous financial years and which remain unpaid on 31 March 218 (New Plymouth and North Taranaki constituencies). The Council will charge a penalty of 1% on so much of any rates levied before 1 July 217 which remain unpaid on 1 July 217 or such later date as required under section 58(1) (b) (ii). A continuing additional penalty of 1% on so much of any rates levied before 1 July 216 which remain unpaid six months after the previous penalty was added (Stratford constituency). The Council will allow a discount of 3% where a ratepayer pays the year s rates in full on or before the due date of the first instalment for the year (South Taranaki constituency only). This will be 3 August 217. PAYMENT LOCATIONS The Council s rates and charges will become due and payable at the principal offices and service centres of the s district councils. The rates and charges can also be paid at the principal office of Regional Council. EACH DOLLAR OF GENERAL RATES COLLECTED IS SPENT IN THE FOLLOWING MANNER: Working with people caring for Taranaki 51

4 RATING IMPACT The following are examples of the level of total rates that different groups of ratepayers will incur in 217/218 under this. All figures are GST exclusive. These figures are calculated on the equalised capital value of each district. The actual rates struck will be on the unequalised capital value. Accordingly, there will be some differences (expected to be minor) between the figures below and the final rates figures charged. RATEPAYERS IN THE NEW PLYMOUTH AND NORTH TARANAKI CONSTITUENCIES: In these constituencies ratepayers incur a mixture of capital value general rates, uniform annual general charges, capital value targeted rates and land value targeted rates. To determine the rates for any property, refer to the table for that type of property and then look by capital value (columns) and land value (rows). For instance, a residential ratepayer with a capital value of $3, and a land value of $1, will pay $ in total al council rates (see highlighted example below). Commercial and industrial property Capital value of property: $2, $3, $5, $75, $1,, Land value of property: $5, $17.92 $ $ $ $ $1, $115.6 $ $ $ $34.56 $15, $ $ $ $ $ $3, $146.3 $ $ $ $ $5, $177.1 $2.63 $ $36.93 $ Residential property Capital value of property: $2, $3, $5, $75, $1,, Land value of property: $5, $11.49 $ $ $ $29.46 $1, $12.75 $ $ $ $ $15, $14. $ $ $ $ $3, $17.76 $ $ $ $ Small holdings property Capital value of property: $2, $3, $5, $75, $1,, Land value of property: $5, $1.97 $ $ $23.89 $ $1, $11.71 $ $ $ $29.67 $15, $12.44 $126.6 $173.3 $ $ $3, $14.64 $ $175.5 $ $293.6 Farmland property Capital value of property: $5, $1,, $2,, $3,, $5,, Land value of property: $25, $ $29.39 $ $762.8 $1, $5, $ $ $ $ $1, $1,, $ $ $53.13 $ $1, $1,5, $ $ $ $768.7 $1, $2,, $18.54 $ $ $771.6 $1, RATEPAYERS IN THE STRATFORD AND SOUTH TARANAKI CONSTITUENCIES: In these constituencies, ratepayers incur a mixture of capital value general rates, uniform annual general charges and capital value targeted rates. Stratford constituency Capital value of property: $2, $5, $1,, $2,, $5,, Total rates $94.28 $156.2 $ $ $1, /218

5 FUNDING IMPACT STATEMENT South Taranaki constituency Capital value of property: $2, $5, $1,, $2,, $5,, Total rates $92.35 $ $ $ $1,36.64 ACTUAL RATES TO BE PAID To calculate the approximate rates payable for a property, obtain the rateable land value and capital vale from the Rates Assessment Notice issued by your local district council and then complete the attached table. All figures include GST. For example if you own a residential property in the North Taranaki constituency with a capital value of $4, and a land value of $12,, then the rates calculation would be as follows: EXAMPLE New Plymouth and North Taranaki Constituencies Capital Value (CV): $4, Land Value (LV): $12, Rate Factor Differential Value Rate Amount General CV $4,.16 $64.4 UAGC 1 $6.95 $6.95 River control CV $4,.39 $15.6 Transport CV $4,.49 $19.6 Yarrow Stadium LV Residential $12,.29 $3.48 LV Commercial/industrial LV Farmland.5 N/A LV Small holding.17 N/A Total rates $164.3 New Plymouth and North Taranaki Constituencies Capital Value (CV): Land Value (LV): Rate Factor Differential Value Rate Amount General CV.16 UAGC 1 $6.95 $6.95 River control CV.39 Transport CV.49 Yarrow Stadium LV Residential.29 LV Commercial/industrial LV Farmland.5 LV Small holding.17 Total rates Stratford Constituency Capital Value (CV): Land Value (LV): Rate Factor Differential Value Rate Amount General CV.2 UAGC 1 $6.95 $6.95 Transport CV.7 Total rates South Taranaki Constituency Capital Value (CV): Land Value (LV): Rate Factor Differential Value Rate Amount General CV.188 UAGC 1 $6.95 $6.95 River control CV.6 Transport CV.4 Total rates Working with people caring for Taranaki 53

6 The three Taranaki based district councils collect al general rates on behalf of Regional Council. The projected apportionment of general rates between districts is as follows: District Capital Value Equalised $ % Estimated Rate Revenue $ GST $ GST incl rate revenue $ Rate in the $ excl GST 29/21 New Plymouth 16,24,55, 56.63% 2,76, ,611 2,336,52 Stratford 2,957,872, 1.45% 383,251 47,96 431,157 South Taranaki 9,313,618, 32.92% 1,27,332 15,917 1,358,249 28,295,545, 1.% 3,667, ,434 4,125, /211 New Plymouth 14,961,826, 59.11% 2,58, ,623 2,93,69 Stratford 2,41,563, 9.49% 414,372 51, ,169 South Taranaki 7,948,75, 31.4% 1,371,53 171,382 1,542,435 25,311,464, 1.% 4,366, ,82 4,912, /212 New Plymouth 15,95,32, 6.42% $2,766,26 $414,94 $3,18,93 Stratford 2,662,41, 1.8% $461,638 $69,246 $53,884 South Taranaki 7,787,2, 29.5% $1,35,418 $22,563 $1,552,981 26,399,561, 1.% $4,578,83 $686,712 $5,264, /213 New Plymouth 13,29,429, 55.7% 2,588, ,218 2,976,335 Stratford 2,593,336,5 1.74% 54,746 75,712 58,458 South Taranaki 8,252,154, 34.19% 1,66, ,23 1,847,846 24,135,919,5 1.% 4,699,686 74,953 5,44, /214 New Plymouth $16,94,949, 6.17% $2,765,159 $414,774 $3,179,933 Stratford $2,586,32, 9.67% $444,392 $66,659 $511,51 South Taranaki $8,69,489,5 3.16% $1,386,26 $27,94 $1,593,93 $26,75,74, 1.% $4,595,578 $689,337 $5,284, /215 New Plymouth 16,453,922,1 59.3% 2,734,493 41,174 3,144,667 Stratford 2,633,724, % 437,76 65,664 53,424 South Taranaki 8,786,39, % 1,46, ,19 1,679,145 27,873,686,62 1.% 4,632, ,857 5,327, /216 New Plymouth 16,961,17, % 2,822,44 423,37 3,245,341 Stratford 2,663,615,5 9.37% 443,221 66,483 59,74 South Taranaki 8,85,959, % 1,464, ,742 1,684,688 28,43,592,547 1.% 4,73,211 79,532 5,439, /217 New Plymouth 18,34,73, % $2,926,73 $439,5 $3,365,78 Stratford 2,873,743, % $459,639 $68,946 $528,585 South Taranaki 8,488,451, % $1,357,98 $23,565 $1,56,663 29,666,925,211 1.% $4,743,441 $711,516 $5,454, /218 New Plymouth 16,998,928, % 2,642, ,425 3,39,259 Stratford 2,946,817, % 458,378 68, ,135 South Taranaki 1,763,892, % 1,673, ,33 1,924,589 3,79,638,69 1.% 4,774, ,215 5,49, /218

7 FUNDING IMPACT STATEMENT The following information is presented for compliance with Local Government (Financial Reporting and Prudence) Regulations 214. In accordance with the Regulations, the information presented is incomplete (in particular, the information presented does not include depreciation and internal transactions such as overheads) and it is not prepared in compliance with generally accepted accounting practice. It should not be relied upon for any other purpose than compliance with the Local Government (Financial Reporting and Prudence) Regulations 214. WHOLE OF COUNCIL FUNDING IMPACT STATEMENT RESOURCE MANAGEMENT FUNDING IMPACT STATEMENT 216/217 7,536,494 Sources of operating 217/ /218 7,611,858 7,574,175 1,82,63 Targeted rates 1,865,532 1,699,487 1,61,93 2,7,987 1,883,854 7,47,44 Fees and charges 7,81,374 8,728,451 6,499,7 Interest and dividends from investments 6,992,17 7,96,928 24,866,131 Total operating 26,278,921 26,982,895 23,89,9 Payments to staff and suppliers 24,429,159 25,53,68 Finance costs 23,89,9 1,56,231 42, Other operating Sources of capital 24,429,159 25,53,68 1,849,762 1,929, ,5 Increase/(decrease) in debt 235, Gross proceeds from sale of assets 118, 118, Lump sum Other dedicated capital 637, Total sources of capital 375,5 118, Applications of capital - meet additional demand 4, - improve the level of service 6, 5,362,4 - replace existing assets 3,286,75 1,589,45 (351,29) Increase/(decrease) in reserves 17, ,51 (3,357,879) Increase/(decrease) in investments (1,769,457) 313,786 1,693,231 (1,56,231) 2,225,262 2,47,287 (1,849,762) (1,929,287) 216/217 3,986,371 3, Sources of operating general charges, rates penalties 217/ /218 4,29,997 3,89,651 Targeted rates 32, 245, 5,68,69 Fees and charges 5,682,156 6,721,769 9,895,61 Total operating 1,194,153 1,857,42 8,79,15 Payments to staff and suppliers 9,16,657 9,933,71 4,14,94 12,93,244 Finance costs 4,388,888 4,171,214 Other operating 13,549,545 14,14,915 (3,35,183) (3,355,392) (3,247,495) Sources of capital Increase/(decrease) in debt 94, Gross proceeds from sale of assets 71, 71, Lump sum Other dedicated capital 94, Total sources of capital 71, 71, Applications of capital - meet additional demand - improve the level of service 598,6 - replace existing assets 1,199,25 43,95 Increase/(decrease) in reserves (3,539,783) Increase/(decrease) in investments (4,483,642) (3,58,445) (2,941,183) (3,284,392) (3,176,495) 3,35,183 3,355,392 3,247,495 Funding balance Funding balance Working with people caring for Taranaki 55

8 BIOSECURITY FUNDING IMPACT STATEMENT TRANSPORT FUNDING IMPACT STATEMENT 216/ / / / / / ,847 Sources of operating 796, ,61 Targeted rates 16,5 Fees and charges 16,5 11, ,347 Total operating 92,788 1,33, ,796 Sources of operating 146,89 169,761 85,272 Targeted rates 858,27 811,628 1,31,93 1,75,987 1,638,854 1,136,45 Fees and charges 1,149,36 1,365,188 3,438,448 Total operating 3,859,643 3,985,431 1,258,25 Payments to staff and suppliers 985,745 1,134, ,27 Finance costs 1,739,52 Other operating 468, ,458 1,454,292 1,722,297 3,851,12 Payments to staff and suppliers 3,861,184 3,988, ,8 Finance costs 3,997,182 Other operating 153, ,833 4,14,349 4,14,819 (95,173) (551,54) (688,58) (558,734) (154,76) (155,388) Sources of capital Increase/(decrease) in debt 6, Gross proceeds from sale of assets 8, 8, Lump sum Other dedicated capital 6, Total sources of capital 8, 8, 42, Sources of capital Increase/(decrease) in debt 8, Gross proceeds from sale of assets Lump sum Other dedicated capital 41, Total sources of capital Applications of capital - meet additional demand - improve the level of service 172,5 - replace existing assets 44,5 44,5 (372,) Increase/(decrease) in reserves 1, 1, (645,673) Increase/(decrease) in investments (688,4) (825,8) (845,173) (543,54) (68,58) Applications of capital - meet additional demand - improve the level of service 725, - replace existing assets (35,18) Increase/(decrease) in reserves (36,73) (32,82) (838,554) Increase/(decrease) in investments (118,3) (122,568) (148,734) (154,76) (155,388) 95, ,54 688,58 558, ,76 155,388 Funding balance Funding balance /218

9 FUNDING IMPACT STATEMENT HAZARD MANAGEMENT FUNDING IMPACT STATEMENT CIVIL DEFENCE EMERGENCY MANAGEMENT 216/ ,48 Sources of operating 217/ / , ,626 Targeted rates 361,721 Fees and charges 688, , ,129 Total operating 873, ,68 491,667 Payments to staff and suppliers 668,69 525,94 198,776 Finance costs 69,443 (135,314) Other operating Sources of capital 333, ,946 1,1, ,886 (128,568) (159,818) Increase/(decrease) in debt 1, Gross proceeds from sale of assets Lump sum Other dedicated capital 1, Total sources of capital Applications of capital - meet additional demand - improve the level of service 44,8 - replace existing assets 74, 4, Increase/(decrease) in reserves (17,114) Increase/(decrease) in investments (22,568) (163,818) (125,314) 135,314 (128,568) (159,818) 128, ,818 Funding balance HAZARD MANAGEMENT FUNDING IMPACT STATEMENT FLOOD MANAGEMENT, GENERAL RIVER CONTROL AND RIVER CONTROL SCHEMES 216/217 1,28 Sources of operating 217/ /218 (47,975) 135, ,877 Targeted rates 7, ,295 51,43 Fees and charges 2, 814,128 Total operating 672, ,881 41,59 Payments to staff and suppliers 386, ,968 16,24 Finance costs 516,83 297,298 Other operating Sources of capital 111,392 11, ,715 5, , , ,5 Increase/(decrease) in debt Gross proceeds from sale of assets Lump sum Other dedicated capital Total sources of capital 257,5 Applications of capital - meet additional demand 4, - improve the level of service 6, - replace existing assets 55,89 Increase/(decrease) in reserves 44,672 76,871 21,48 Increase/(decrease) in investments (212,48) 17, ,298 (297,298) 432, ,489 (174,764) (247,489) Funding balance Working with people caring for Taranaki 57

10 RECREATION, CULTURE AND HERITAGE FUNDING IMPACT STATEMENT 216/217 1,61,39 Sources of operating 217/ /218 1,588,231 1,61,997 37,454 Targeted rates 36, , , Fees and charges 152, 118,93 2,46,844 Total operating 2,47,12 2,17,464 2,229,267 Payments to staff and suppliers 2,25,965 2,248, ,741 Finance costs 3,42,8 (995,164) Other operating Sources of capital 852, ,747 3,58,12 3,93,498 (1,11,18) (1,76,34) Increase/(decrease) in debt Gross proceeds from sale of assets 8, 8, Lump sum Other dedicated capital Total sources of capital 8, 8, Applications of capital - meet additional demand - improve the level of service 2,839, - replace existing assets 1,226, 476, Increase/(decrease) in reserves (3,834,164) Increase/(decrease) in investments (2,229,18) (1,544,34) (995,164) 995,164 (1,3,18) (1,68,34) 1,11,18 1,76,34 Funding balance REGIONAL REPRESENTATION, ADVOCACY AND INVESTMENT MANAGEMENT FUNDING IMPACT STATEMENT 216/ ,474 Sources of operating 217/ / , ,986 Targeted rates 5, Fees and charges 3, 7, 782,474 Total operating 737, , ,452 Payments to staff and suppliers 925, , ,181 Finance costs 1,432,633 (65,159) Other operating Sources of capital 452, ,478 1,377,987 1,24,134 (64,714) (578,148) Increase/(decrease) in debt 63, Gross proceeds from sale of assets 31, 31, Lump sum Other dedicated capital 63, Total sources of capital 31, 31, Applications of capital - meet additional demand - improve the level of service 982,5 - replace existing assets 743, 661, Increase/(decrease) in reserves (1,569,659) Increase/(decrease) in investments (1,352,714) (1,28,148) (587,159) 65,159 (69,714) (547,148) 64, ,148 Funding balance /218