Long Term Community Plan 2012-2022 - Hurunui District Council

Funding Impact Statement (and Rates System)
Hurunui Community Long Term Plan 2012 - 2022
Introduction
The funding impact statement for the Council as a whole and the
groups of activities, in accordance with section 5 of schedule 10
of the Local Government Act 2002 and the Local Government
(Financial Reporting) Regulations 201, are presented in this
section.
These Funding Impact Statements do not comply with Generally
Accepted Accounting Practice (GAAP) as they do not recognise
depreciation and movements in the valuation of assets and also
they do not show capital income (Subsidies and Development
Contributions) as operating income. On each Funding Impact
Statement, a reconciliation between the surplus/(deficit) as
per the relevant financial summary and the surplus/(deficit) of
operating funding has been presented.
In addition to the legislation stated above, the funding impact
statement has been prepared in accordance with clause 15 of
schedule 10 of the Local Government Act 2002. It must set out
the following:
• The revenue and financing mechanisms used;
• An indicative level or amount of funding for each
mechanism;
• Explanatory information supporting the use of general
and targeted rates;
• A summary of the total rates requirement;
• Subsidies, grants and contributions; and
• Revenue and funding mechanisms.
The funding mechanisms described in the funding impact
statement apply for the entire period covered by the LTP. The
Funding Impact Statement should be read in conjunction with
the Revenue and Financing Policy (page 230) which describes
how costs for services are collected.
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