He Pūrongo Pūtea
Finances at a Glance
The year has been one of economic challenges and financial pressures and this is reflected in the financial results of Greater Wellington. Summary highlights from the year include:
- We received an AA+ credit rating with Standard & Poor’s, which indicates a very strong capacity to meet financial commitments, and good financial health overall.
- The cost of delivering all our services amounted to $7.9 dollars per rating unit per day.
- Our total assets held this year were worth $2.57 billion.
Greater Wellington’s revenue is sourced primarily through rates and grants from central government. Other revenue sources include water supply levy, fees, charges, including public transport fares, and investment income.
- Our annual revenue from rates this year was $211.9 million, compared to $180 million in the prior year.
- Revenue from grants and other sources was $355.6 million, compared to $348.9 million in the prior year.
Financial overview
Revenue
Greater Wellington’s revenue is sourced primarily through rates and grants from central government. Other revenue sources include water supply levy, fees, charges and investment income.
Revenue
Operational expenditure
Greater Wellington’s operational expenditure across the four LTP Activity Groups.
Operational expenditure by Activity Group
Capital expenditure
Greater Wellington’s capital expenditure highlights infrastructure investment in public transport, flood protection, water supply and parks and forests.
Capital expenditure by Activity Group
Property, plant, and equipment
Greater Wellington’s asset base comprising public transport, flood protection, water supply and parks. Public transport includes $486.3m of rail rolling stock and railway station infrastructure owned by Greater Wellington Rail Limited, a Council subsidiary.
Property, plant, and equipment asset value by Activity Group
Total expenditure
Greater Wellington’s total expenditure (operational plus capital) by Activity Group.
Total expenditure by Activity Group
Full details on our financial service performance information can be found in Wāhanga tuatoru: He pūrongo pūtea | Section three: Financial performance of the full 2023/24 Annual Report.
Pūrongo ā Tau | Annual Report 2023/24
date_range Published 26 Nov 2024
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