The Invercargill City Council adopted its 2017-2018 Annual Report at a meeting on Tuesday night (30 October 2018).
Council Interim Director of Finance Dave Foster said the report received a clear audit opinion from Audit New Zealand.
The report shows a $5.4 million loss compared to a budgeted loss of $1.8m, however Council’s cash expenses were below budget by $4m. Depreciation and revaluation accounted for $6.8m of Council’s expenses, which are non-cash items, Mr Foster said.
Strategy and Policy Manager Melissa Brook said the Annual Report shows Council achieved 62 out of 91 Level of Performance Measures, which were set as part Council’s planning responsibilities.
Level of Performance Measures are targets set by Council to ensure the maintenance of essential services like infrastructure, as well as the meeting of community expectations around Council’s wider responsibilities.
Ms Brook said in the 2018-2019 year, staff would focus on improving performance in areas where the 29 measures are not currently met.