This budget details what the council plans to spend money on, the services we will provide and where we will make savings in the 2023/2024 financial year.
During the process of setting this budget, Auckland faced the impact of a rapid rise in both interest rates and inflation, and experienced devastating and tragic storm events.
These factors led to some tough budget measures
in response to a $325 million gap between our revenue and operating expenses, along with a $40 million gap to fund storm-related costs in 2023/2024.
After considering your feedback, this budget sets a range of measures to close the gap including:
- spending cuts
a total rates increase of 7.7 per cent per year for the average value residential property
- an increase in debt
- the sale of some assets to save on interest payments.