A Layman's version of the Annual Accounts 2010/11
From: Bryan Pepperell [mailto:Bryan.Pepperell@wcc.
Sent: Monday, 29 August 2011 2:39 p.m.
To: Peter Garty
Cc: GRP: Councillors
Subject: FW: A Layman's version of the Annual Accounts
CFO Wellington City Council
Dear Peter,
Recently I raised the issue of a Layman's version of the Annual accounts with you.
As we are about to bring the 2010/11 Financial Statements and Statements of Service Performance to Strategy and Policy tomorrow I would like a layman's short overview in plain English. Please answer the following questions:
1)What is the value of the realisable assets that Council has? That is what could be realistically sold in an emergency to raise cash?
2) What is the total income of Council from rates?
3)What is the total non-rateable income and a breakdown of that income?
4)What is Council's debt in total, including the Council owned trading organisations and Trusts? Could you separate Council's debt please?
5)What does it cost to run Council as a Corporation? The total wage and salary bill please.
6) How much do we spend on outside
contracting, consulting and legal services?
7) What is the total
interest bill for Council borrowings and its other entities? Please give a breakdown.
8)What does it cost to deliver all Council's services and what percentage of the total is wages and salaries?
Regards
Councillor Pepperell
To: Bryan Pepperell
Cc: GRP: Councillors
Subject: RE: FW A Layman's version of the Annual Accounts
Councillor Pepperell
Responses:
1) Total realisable assets = $313m (Investment property of $204m plus Airport investment of $109m - other investments in subsidiaries and associates would not be easily realisable)
2) Income from rates = $223m (53% of total income)
3) Total non-ratable income = $193m. Broken down as follows:
| 2011 |
| $000 |
|
|
Rendering of services | 81,271 |
Grants, subsidies and reimbursements - capital | 54,741 |
Investment property lease rentals | 13,452 |
Fines and penalties | 11,689 |
Dividend from investment in associates | 9,061 |
Grants, subsidies and reimbursements - operating | 6,261 |
Sale of goods | 5,600 |
Vested assets | 4,256 |
Development contributions | 2,708 |
Petrol tax | 1,167 |
Gain on disposal of property, plant and equipment | 1,009 |
Release of provisions | 569 |
Other <$500k | 1,690 |
Total | 193,474 |
4) Gross borrowings – cash and cash equivilents = net borrowings
The gross borrowings Council = $331.4m (Group gross borrowings = $332.0m)
Net borrowings Council = $311.8 m (Group net borrowings = $308.1m)
5) Total wages and salaries = $84.5m (including Councillor and community board remuneration, superannuation contributions, retirement costs and other personnel costs)
6) Cost of consultants, legal fees and contractors = $9.9m
7) Interest costs for Group is $18.3m. Only $42k is CCOs (St James) - the rest is Council.
8) Cost to deliver Council services (total expenses) = $400.0m. Wages and salaries (including Councillor and community board remuneration, superannuation contributions, retirement costs and other personnel costs) is 21.1%
Regards
Peter
Peter Garty
Chief Financial Officer
E-mail: peter.garty@wcc.govt.nz
Phone: +64 4 803 8785
-----Original Message-----
posted by pepptalk at 8:04 PM
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