$1.4m in savings found
Overheads, power targeted in reviewMATT RILKOFF
An activity and service review at New Plymouth District Council has identified $1.4 million in savings for next year.
If implemented, the savings would cut the 2013/14 rates increase from 6.6 per cent to 4.6 per cent.
The bulk of the savings will come from council reducing its overheads by $603,000 and electricity use by $300,000.
The $850,000 major events fund that helped bring such acts as Fleetwood Mac, Elton John and Jack Johnson to New Plymouth is proposed to be reduced by $200,000.
It is also recommended the controversial $28m TSB Stadium upgrade, pegged to start in 2015, be reconsidered in the 2015-2025 long term plan.
The review also recommends the council drastically reduce how much it takes from its $227m perpetual investment fund next year from $17m to $10.7m.
Public submissions on the proposed savings will be sought through the annual plan process, with council first debating the draft plan next week.
- Taranaki Daily News
Should New Plymouth council sell off assets from the Perpetual Investment Fund to pay off debt?Related story: Perpetual Investment Fund asset sell-off 'should be debated'
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