Waipā adopts Annual Report with clean audit
Waipā District Council’s 2024-25 Annual Report has been adopted with a clean audit, confirming Waipā remains financially stable despite a challenging year.
The report received an unmodified opinion from Audit NZ, which provides independent assurance of the Council’s financial statements.
Mayor Mike Pettit said the past year involved significant challenges and difficult decisions. “Like many other councils, we faced pressures from rising costs, high depreciation, and changes in water services delivery,” he said.
And in addition, Waipā’s rapid growth requires upfront investment in infrastructure, creating extra financial pressure.
“But even in this environment, we have continued to deliver essential services and invest in our communities. Our AA- credit rating has been maintained for the eighth consecutive year.”
Major projects progressed over the year included the Cambridge Wastewater Treatment Plant – on target to be completed on time and under budget – major road and stormwater upgrades across the district, the reset of Cambridge Connections, pathway extensions, and community projects including new destination playgrounds.
Council also enjoyed strong community engagement through 16 projects, including the final shaping of Ahu Ake – Waipā Community Spatial Plan which was adopted in March after five years in the making.
Extensive consultation on Local Water Done Well – including 20 community sessions – led to the decision to join Waikato Waters Ltd, which will deliver the most affordable model for water services delivery for the community.
The impact of water services on Council’s books was clearly shown in the report – accounting for around 38 percent of the $99.3 million collected from rates.
Just over a third – 35 percent – went to funding community services and facilities, including parks, libraries, halls, and cemeteries. Roads and footpaths made up 14 percent, planning and regulatory services seven percent, and the remainder covered governance, strategy, and communications.
The report shows an operating deficit of $17.3 million, largely due to non-cash items such as depreciation and asset write-offs, rather than overspending. Council’s total assets are valued at $2.7 billion, with $2.4 billion in equity.
"Even with the pressures we face, Waipā continues to plan for the future, and deliver for our communities,” said Pettit. “Our focus remains on building a district that is resilient, connected, and thriving for generations to come."
The full Annual Report 2024–25 and the Summary Annual Report are available online at www.waipadc.govt.nz/our-council/finance/annual-report
