Our preliminary financial results for the year ended June 30, 2026 were presented to the Finance and Corporate Committee in late July. They provide an early picture of our 2025/26 performance and, once finalised and audited, will be included in the Annual Report due in October.
The preliminary 2025/26 financial results show a positive year-end position, with operating income slightly higher and operating expenditure slightly lower than expected. There was also signs of growth across the district.
Operating budget
Our operating budget pays for the day-to-day services we provide, such as maintaining parks and reserves and running libraries and the museums.
| Actual | Budget | Variance |
Total operating income | $179.9m
| $174.2m
| ▲ $5.6m
|
Total operating expenditure | $158.9m*
| $163.1m
| ▼ $4.2m
|
* Actuals exclude $33.6m of non-cash write offs
Capital expenditure
Capital expenditure is the money we spend on the assets that support our services. It is divided into three categories – growth, renewals and levels of service.
Growth | Renewals | Levels of service |
$41.8m
| $15.6m
| $9.3m
|
New infrastructure to support growth
| Replacing ageing assets
| Improving existing services
|
In 2025/26, we invested $66.8m in capital projects, with most spending allocated to growth-related projects.
Borrowing
Capital expenditure is paid for from a variety of sources, including external borrowing. We use borrowing to help pay for long-life assets such as roads and pipes. This spreads the cost over time so it is shared by the people who will use those assets.
| 2025/26 actual | 2025/26 budget | Variance |
Net external borrowings
| $392.5m
| $470.0m
| ▼ $77.5m
|
Growth indicators
Growth indicators give us a useful picture of how development is tracking across the district.
| 2025/26 result | 2024/25 result | Change |
Resource consents issued | 624
| 616
| ▲ 1.3%
|
Building consents issued | 1445
| 1369
| ▲ 5.6%
|
Value of construction work | $448.3m
| $376.6m
| ▲ 19.0%
|
Development contribution revenue | $11.2m
| $10.1m
| ▲ 50.8%
|
Despite the challenging economic environment, the preliminary results show growth is starting to lift. Resource and building consent numbers were higher than last year, while the value of construction work increased by almost 20 percent, showing continued investment and development across the district. Development contribution revenue also increased.
