The Long-term Plan, Finance and Performance Committee and Council deliberated on the results of public consultation and made decisions on how to proceed.

To manage the city’s insurance and investment risks, Councillors agreed to proceed with the preferred option, increasing borrowing capacity by reducing capital spending, and creating a small investment fund of around $68 million.

As part of this decision, spending will be adjusted to several Capital projects.

The Council also addressed aspects of the 2025/26 Annual Plan, containing a provisional rates increase of 12% (including the 1.4% sludge levy).

Click here to learn more about the decisions made.

Thursday’s deliberations were the final stage for developing the 2024-34 LTP amendment and 2025/26 Annual Plan and their respective budgets.

A final review will be conducted by Audit NZ and then formal adoption by Council will take place at the end of June.