2011-2012 Annual Report - Full Version - PDF - Palmerston North ...

Contents1. OVERVIEWCouncil’s Vision for the Future 3Year in Review 4Financial Overview 7Revenue 9Expenditure 11Capital Expenditure 12Equity 13Borrowing Ratios 142. WHAT THE COUNCIL DOESOverview 27Leadership 31Community Support 41Economic Development 57Leisure 63Environmental Sustainabilityand Health 85Support Services 119Contents & He MihiWhat’s Happening in the City? 15State of the City 15Palmerston North - Key Facts 18Recreation, Cultureand Leisure Activities 18Events 18How Do We Operate? 19Role of the Council 19Council Representationand Structure 19Role of Managementand Employees 22Funding Supportto External Organisations 233. FINANCIAL STATEMENTSAuditor’s Report 131Statement ofCompliance and Responsibility 133Comprehensive Income 134Financial Position 135Changes in Equity 136Cash Flows 137Accounting Policies 138Notes to Financial Statements 1384. COUNCIL CONTROLLEDORGANISATIONSOverview 189Caccia Birch Trust Board 190Globe Theatre Trust Board 191Regent Theatre Trust Board 192Te Manawa Museums Trust Board 193Palmerston North Airport Limited 195He Mihi5. APPENDICESHow to Find us 197Glossary 198Kei te mihi atu ki a Tararua te pae maunga me tōnataumata Te Ahu ā Turanga.Ko te awa e rere mai nei ko Manawatū.Ko Tānenuiarangi te tangata, ko Rangitāne te iwi, no reiraka tuku whakamihi ki te iwi o Rangitāne e pupuri nei i temauri otēnei whenua.Tini whetu ki te rangi, Rangitāne ki te whenua.Tihei Mauriora!The Palmerston North City Council respectfullyrecognises the local iwi Rangitāne and their customaryrelationship to this area and appreciates the ongoingsupport of the iwi in the development of this City and allof those people who have made it their home.The Council remains committed to fostering andstrengthening our relationship with Rangitāne.2Cover Photo: “Ignition’ event for youth in the CIty held in the newYouth Space, organised by the Youth Council.Palmerston North City Council Annual Report 2011/12