The 2019/20 Statements of Intent (“SOI”) of Dunedin City Holdings Group of Companies were approved by Council on 29 June 2019. The SOI for Dunedin City Holdings Limited (“DCHL”) included the following debt forecasts for the DCHL Group:
June 2020 $791m
June 2021 $887m
June 2022 $927m
These debt forecasts can be added to the debt graph as per the 2019/20 Annual Plan as follows:
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Notes to graph
This graph illustrates actual debt for the 1990/91-2018/19 years (forecast for the 2019/20-2021/22 years) for the Council, the Stadium, other Council-owned companies and the combined group.
Council debt increased in 2010/11 due to the construction of the Stadium and declined in 2011/12 due to the sale of the Stadium to a Council-owned company, Dunedin Stadium Property Limited.
In 2014/15, $30 million of Stadium debt was transferred back to the Council.
Forecast figures are based on 2019/20 Statement of Intent (SOI) for DCHL.
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Graph information
This table contains the information displayed in the graph above.
Debt Financial Year DCC Stadium DCC Consolidated Group CCOs
Aurora, DELTA,
City Forests, DCHL1990/91 32 72 40 1991/92 45 87 43 1992/93 35 76 41 1993/94 91 64 1994/95 33 100 67 1995/96 27 81 54 1996/97 29 88 59 1997/98 31 88 57 1998/99 30 191 161 1999/00 33 182 150 2000/01 36 183 147 2001/02 35 191 156 2002/03 30 172 142 2003/04 43 188 145 2004/05 60 213 154 2005/06 69 228 159 2006/07 89 246 157 2007/08 114 306 191 2008/09 175 374 200 2009/10 240 498 258 2010/11 326 0 567 241 2011/12 216 148 620 256 2012/13 225 146 623 252 2013/14 220 139 610 252 2014/15 239 104 594 251 2015/16 216 94 581 270 2016/17 202 93 573 278 2017/18 200 89 610 320 2018/19 219 88 691 384 2019/20 Forecast 250 87 791 454 2020/21 Forecast 274 85 887 528 2021/22 Forecast 287 84 927 555
Note – the SOI that provides the figures for the above graph was issued before the DCC 2019/20 Annual Plan. The DCC 2019/20 Annual Plan shows that DCC is planning to bring forward some significant renewals capital projects that were previously scheduled for future years. The Annual Plan also recognises additional expenditure in relation to the Peninsula Project and Flood Reinstatement works that will attract some significant additional funding for DCC.
These amendments provide several benefits to Council and the City but will bring forward and/or increase the DCC debt figures that were included in the DCHL SOI. To the extent that this is the case the above graph will need to be amended.