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

Financial ResultsActivity Operational Results: HousingRevenueActual Budget Variance Actual Note2012 2012 2012 2011$000 $000 $000 $000Social Housing 1,398 1,231 167 1,257 1.Total Revenue 1,398 1,231 167 1,257CommunitySupportExpensesSocial Housing 1,641 1,691 50 1,614 2.Total Expenses 1,641 1,691 50 1,614Net Operating CosT OF ACTiviTY (243) (460) 217 (357)Note1. Stable occupancy and rent increases has increasedrent, budget low.2. Lower maintenance required.What the Council Does HousingSignificant Activity Capital Projects: HousingCapital RenewalActual Budget Variance Actual Note2012 2012 2012 2011$000 $000 $000 $000City Wide community housing upgrades 58 53 (5) a.Total Capital Renewal 58 53 (5) 529Capital NeWPapaioea Place communityhousing unit replacement 67 1,044 977 b.Total Capital NeW 67 1,044 977 -Total Capital ProjeCTs 125 1,097 972 529Significant acquisitions and explanation of variances from Annual Plana. Major item was replacement of locks as many notsecure to improve security with some to be completednext year.b. Feasibility studies continuing to determine scope ofproject. Decisions to be made about number of unitson the site and the final design with $500k of budgetto be carried forward to 2012/13.56 Palmerston North City Council Annual Report 2011/12