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Thames Coromandel budget blowout

Thames Coromandel budget blowout

Posted February 11, 2020

Thames Coromandel ratepayers are in for a hike in their rates after a review identified substantial budget increases will be necessary to keep pace with operating costs.

Mayor Sandra Goudie is staying tight lipped about what the actual cost to ratepayers could be for now, preferring to have the information released to everyone at the same time.

Unforeseen costs have increased exponentially according to the Mayor.The council’s operating budget was revised after an increase of more than $6 million was spent in 2018/19.

A budget blowout of $12 million is forecast for a two year period.

Making savings and identifying costs that could be spread across a number of financial years to ease the ratepayer burden will be a priority for council management going forward.

Thames Coromandel District Councillors will be asked to approve a new budget forecasting a $6.7 million operating deficit when they meet to go over the reports prepared by staff later today.