City Finance Cost(s)
Finance (Interest) Cost(s)
2017/2018 Annual Plan
There was much joy and jubilation Hamilton receiving $272 million interest free from the Government $1 billion infrastructure fund. The current debt is $434 million; finance (interest) cost is $21,819,000 (nearly $22 million per year). The increase of $272 million will push the debt to $706 million with additional cost of $27.2 million per year to pay back the $272 million takes the annual interest (finance) cost to $41.019 million and pushes the net interest–cost-to-total-revenue to 20.78%.
Current Finance Cost (Interest) $21,819,000
Plus
Infrastructure Fund Payments $27,200,000
$49,019,000 per year
Broken down Council (Ratepayers) have to fund/find
Monthly (12) $4,084,916.67
Weekly (52) $942,673.08
Daily (365) $134,298.63
As well as run the daily operation of the city. All of this takes no account of
:
a. $13.3 million at ‘Waterworld’ www.stuff.co.nz...
b. The Water Pipes leading to the East
c. The ‘Frankton Plan’ the ‘River Plan’, the ‘Ferrybank Plan’ the ‘CBD plan’ and at least another 20 odd other projects Council have pencilled in and some supposedly FUNDED.
d. Oh, the ZOO $15.7 million
e. $34.5 million on Founders Theatre www.stuff.co.nz...
f. Not to mention other ‘Dreams are Free’ Plans/Projects proposed by Council.
If Ratepayers objected to the recent “Free” parking proposal, imagine the reaction when they receive their rates to fund this 20.78% interest–cost-to-total-revenue plus any other ‘Dreams are Free’
Hamilton is in deep do dos.
Austerity is the order of the day – cut one’s cloth…the alternative will be to price people out of their homes, it has happened overseas the conditions are the same.
Be Loved this Spring! Reduced fee dog adoptions at SPCA start today
From 5-20 October only, SPCA dog and puppy adoption fees are 25% off. Plus, every dog adopter gets a free Simparica Trio flea, tick & worm treatment, and discount voucher.
We have more than 300 adoption-ready dogs and puppies nationwide, waiting for their happy forever after.
Visit www.spca.nz... to start your journey together.
Poll: Is it okay to grocery shop in your PJs?
I'm sure you've seen it while doing your weekly shop... In fact, it may have even been you.
What do you think about people heading to the supermarket in their pyjamas?
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14.3% It's fine!
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75.1% It's questionable
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10.6% Other - I'll share below
What do you think of this 11-year-old's chosen cause?
A Whangamatā 11-year-old has placed his award-winning mullet up for auction to raise money for Starship Hospital.
Kahū Hall, who named himself ‘Taco’ when he was three years old, is selling his mullet after growing it for three years. Taco said he was motivated to raise the money after his friend Evie Taylor stayed at Starship Hospital for a heart operation.
What do you think of this 11-year-old's chosen cause? Tell us in the comments (adding NFP if you don't want your words used in print).
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