Environment Waikato’s draft annual accounts record a surplus of $5.2 million for the 2006/07 financial year.

In a report to the Finance and Audit Committee in Hamilton today, finance manager Warren Stevens said the surplus was $2.9 million more than forecast owing to the delayed completion of some projects and lower-than-budgeted depreciation charges.
  
The surplus would be carried forward this financial year to finish the projects that had not been completed because of staff shortages.

As a result of the decision to delay purchasing a replacement computer system, depreciation charges were $1.4 million lower than forecast.

The report also showed net income was higher than expected, underpinned by growth in the number of rateable properties in the region and higher-than-expected investment returns.
   
The council also reviewed the draft Annual Report for 2006/07 showing achievements in all key result areas.

The performance measures this year also require Environment Waikato to report any known effects of its activities on the four community well-beings – environmental, economic, social and cultural.