Whitianga Waterways Policy for Recovering Costs
Basis for recovery of Costs:
In accordance with instruments that apply to benefiting properties, charges are applied to each property to recover the costs of maintaining the waterways to the standards required by conditions of consent set by regulators and as the directors see appropriate.
There are three main elements to costs:
Overheads (management)
Maintenance and monitoring (works)
Structure Cleaning (removal of foul from pontoons)
Overhead costs are recovered as a “base fee” in the annual levy by dividing total budgeted overheads by total benefiting properties.
Maintenance and monitoring costs are a “variable charge” in the annual levy recovered by a formula that considers the revetment wall frontage of each allotment in increments of 25m.
Dredging is carried out annually when fine sediment accumulates to affect draft and navigation within canals.
Structure Cleaning is carried out periodically deemed necessary. Property Owners are charged by a formula that considers the surface area of structures on each property in increments of 5 square meters to recover the actual cost invoiced to the management company for each scraping event.
Debtors A 10% late payment penalty for all invoiced charges paid later than one month after the month invoiced.
Directors No Directors remuneration is provided.
Annual Budget:
The annual budget is generally designed to recover anticipated costs for the year, with an intention to generally retain $50,000 surplus of funds at end budget year. It is expected this will provide sufficient working capital for unforeseen expenditure throughout the year.