Tag Archives: Shell companies

DCC living beyond its means [all spending and debt not declared]

Mr Cull said he was not alarmed by the level of debt, and believed the issues Dunedin faced could be addressed. “Headroom” created by lower debt levels was important.

### ODT Online Tue, 17 Jan 2012
As debt peaks, Cull talks of asset sales
By David Loughrey
Dunedin Mayor Dave Cull has raised the prospect of asset sales to deal with the city’s debt, as the amount owed hit a historic peak this financial year. The figure reached a grand total of $327.4 million this financial year which ends on June 31, just over 10 times what the city owed in 1999.

“The council could not stop developing the city, fixing things, or thinking about new things.”

Read more

Posted by Elizabeth Kerr

72 Comments

Filed under CST, DCC, DCHL, DVL, DVML, Economics, Politics, Project management