Te Tahua ā-Tau 2023/2024 Annual Budget 2023/2024

The council's Governing Body adopted the Annual Budget 2023/2024 on 29 June 2023.

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.

Section One includes our plan for the financial year 2023/2024, including:

• a balanced budget
• our approach and responses to challenges, storms, and rates increase
• changes and outlook for future improvements for our Māori communities in Tāmaki Makaurau.

Section Two includes regional projects, budgets and activities throughout the Auckland Council Group, including a breakdown of programmes and services reflecting the impacts of the storms.

Section Three includes:

• the financial overview for our organisation as a whole
• key changes to rates and other fees
• prospective financial statements for 2023/2024
• rating policy overview
• prospective funding impact statement
• other key financial information.

Section Four includes information on The Tūpuna Maunga o Tāmaki Makaurau Authority.

Section Five outlines:

• the structure of the council
• ways to contact the council
• a glossary of terms.

Section One provides information on local boards and a summary of their planned expenditure for 2023/2024.

Section Two includes a local board agreement for each of the 21 local boards that outline local activity, initiatives and budgets for 2023/2024.

Section Three includes the allocation of Auckland Council’s Governing Body and Local Boards Policy decision-making responsibilities.

Section Fourcontains a glossary of terms.