Tag Archives: Lunacy

Waipori Fund – inane thinkings from a councillor

### ODT Online Wed, 25 Jan 2012
DCC could borrow from self
By David Loughrey
The Dunedin City Council will consider borrowing from its own almost $70 million Waipori fund, instead of using commercial lending institutions. The idea would be to provide regular income to the fund through interest, and produce a situation where the council would, in effect, be paying interest on its loans to itself.
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### ODT Online Wed, 25 Jan 2012
Communities will have to help pay: Cull
By Chris Morris
Communities across Dunedin will need to do more to help pay for projects, as the Dunedin City Council grapples with tight finances threatening to curtail spending on key ventures, Mayor Dave Cull says. The warning came as councillors met in public yesterday for the start of a two-day meeting to discuss the council’s 2012-13 pre-draft annual and long-term plans. The early budgets forecast a 4.7% rates increase from July 1, but councillors were also grappling with a list of about 40 unfunded projects – including the proposed $11.5 million Mosgiel pool and a new South Dunedin library – yet to be included in the council’s spending plans.
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Citizens and ratepayers are given the “pay up or shut up” treatment—councillors are “of a mind” to include some projects in council spending plans…

The top five projects, in order, were a new Maori consultation model, Ocean Beach erosion work, Caversham tunnel work, repairs to the St Clair sea wall, ramp and stairs, and a new council energy plan. [Added items] The council’s share of the Blueskin Bay library ($745,000) and priority parts of the strategic cycle network ($1.5 million over three years) in South Dunedin.

Further discussion at DCC draft annual plan 2012/13 and DCC living beyond its means [all spending and debt not declared]

Posted by Elizabeth Kerr

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