Revenue and Financing Policy • Roads, where funding has been adjusted to take account of NZ • Roading to reflect that as a network roads have the ability to potentially Transport Agency financial contributions. benefit each Ratepayer equally with a weighting of 100 except for Halls, Convention Centre, reserves, drains, river channels, Sounds Admin Rural with a weighting of 25. • retards and Taylor Dam as it is planned that these assets are • Economic Development and Tourism and Events to reduce the either maintained in perpetuity, or their replacement is not certain Commercial/Individual weightings. because of changing community needs. Transferring Smart and Connected Communities from Economic • • Southern Valleys’ Irrigation Scheme, where funding is capped at Development to Community Support where weightings better reflect the current levels in accordance with practice established following benefits accruing to the different groups of ratepayers. community consultation. 12.6 A review of the Wairau Valley River Works Rates. Council has modified the • Activities with loans as well as a high value of non-depreciable weightings of the various Wairau Valley Rivers’ groups to adjust for assets, as below. disproportionate valuation movements arising from the 2017 District wide revaluation. (ii) Debt Servicing Costs have been funded from depreciation reserves with This means that the various differential groups will have similar levies (in total) the following exceptions: on the new capital values, as for the former valuation. • In activities with loans as well as a high value of non-depreciable 12.7 Council may from time to time introduce a Business Improvement District (BID) assets debt servicing costs are fully funded from revenues and/or rate where a BID has been formed in accordance with the Council BID Policy, reserves and depreciation is not funded. and the Council accepts (through consultation with affected parties) that it is appropriate to fund the activity by targeted rates. • Where there is a specific rate or dedicated part of any rate to meet debt servicing costs. 12.3 The Geographic Areas are described in Part 4 - Funding Impact Statement on pages 286 to 287 . Changes 12.4 Council reviewed the appropriateness of Geographic Rating Areas paying a target percentage of total General Rates and Charges. The Council considers it is now time to remove these percentages to enable the rates to be set in a way that is a fairer reflection of the benefits accruing to the different groups of ratepayers. The majority of the community will not be significantly impacted by their removal. The exception is the Picton Vicinity Rating Area and Council has introduced a new Remissions Policy to remit a proportion of the increase for three years to smooth its impact. 12.5 Review of the “funding relationship weighting system”. Changes in weighting have occurred: • Pest Management to reflect the development of a Regional Pest Management Plan guided by the Biosecurity Act1993 and National Policy Direction for Pest Management. 2018-2028 Long Term Plan Page 318