Wellington city councillors are patting themselves on the back after signing off draft annual report today.
The financial summary for the 2013/14 year shows the council recorded a net surplus of $1.2 million compared to a budgeted break-even position.
Borrowing is sitting at $346m, a $2.6m increase on the previous year, and investments are valued at $404m.
The capital spending programme came in $44.5m under budget, largely due to the deferral of the Town Hall strengthening work after costs sky-rocketed, and delays in swimming pool and social housing work.
Audit and risk committee chairman Mark Peck told the governance, finance and planning committee the report reflected a solid year where ratepayers were delivered good value for money, with an average cost to individuals of about $5.82 per day for services - cheaper than the average power bill.
"We deliver value for money here."
Simon Marsh said some areas for improvement were rightly highlighted, but on the whole it was a positive report.
"It also shows the things that council does very well and there are a lot of things."
However, Sarah Free questioned why the public perception of streetlights was so far below the 75 per cent satisfaction, instead sitting at 51 per cent down from 57 per cent the previous year.
Chief asset officer Anthony Wilson said there were still ongoing issues from damage caused by last year's storms, and the priority of the line's company was to ensure supply to houses first.
Free said that was an excuse, and performance needed to improve.
"What's the point in a target unless we have actually got a way in getting there?"
The annual report was then formally adopted by the full council this afternoon.
- The Dominion Post
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