13/06/2026
I thought this reply about debt that CCC hold would be of interest to Selwyn
The response was about a 10 million dollar increase in rates revenue to pay off existing debt Christchurch holds.
“it’s a start towards the $2,650,300,000 or in words for simple terms
Two billion, six hundred and fifty million and three hundred thousand dollars
As declared in the LGFA investor prospectus of May 2026
To put that in context if Chch was to pay off 1 million a year it would take them 2,650.3 years.
Or at 10 million a year 265.03 years 😂😂😂
Might need an additional revenue stream mate 😅”
What’s cool about this, Selwyn’s actually lowered its debt from the previous report 30th of November $315.9 million down to $285.5 million in May.
We are on track to reduce this even further down to $225 million by the end of July.
All while the delivering the same service, refunding rate payers $4.7 million of their last years rates bills and reducing operating expenses by $9.2 million.
We are
Stopping the spend and starting the mend 😉