Coasties may be interested to learn that Auckland Council has made substantial progress in its savings initiatives for the current financial year.

As of now, the council has achieved nearly 50 per cent of its $66 million savings target for 2024/2025, amounting to $31.9 million.

The annual savings programme is part of the council's ongoing efforts to ensure cost-effectiveness and value for money across all its activities.

This week, the Revenue, Expenditure and Value Committee received an update on these savings, with Deputy Mayor Desley Simpson highlighting their importance in reducing rates rises for residents.

“These savings are directly used to keep rates and debt down. In total, $66 million saved represents 2.5 per cent of rates rises that have been avoided,” Cr Simpson stated.

“The savings to date this year are excellent news for our ratepayers and show the council’s focus on delivering increased efficiency and maximising every ratepayer dollar. We want rates to remain affordable, particularly when the cost of living is so high for Aucklanders.”

The council's savings in the last quarter have been achieved through various measures, including detailed budget reviews and reductions in staffing, consultancy, and promotional activities.

Over recent years, Auckland Council has consistently exceeded its savings targets, with many initiatives continuing to yield benefits annually.

The current $66 million savings target builds on top of ongoing savings of $90 million per year that have already been integrated into the council’s budget.

Over the past three years, the council has achieved $337 million in savings, which is expected to approach half a billion dollars by the end of the 2024/2025 financial year.

“The results so far speak volumes for how closely the council is monitoring its costs and enhancing its revenue,” Cr Simpson added.

“While we’re off to a promising start this year, continuing to find savings across the business is a challenge. But we continue to focus on delivering value for money, because it’s vital work to keep rates as affordable for Aucklanders as possible.”

Looking ahead, the council aims to save an additional $19 million per year for 2025/2026 and a further $20 million per year for 2026/2027.

For every $25 million of planned savings in the council’s budget, a rates rise of around 1 per cent is avoided.