Dear Wellington City Council,

RE the Long Term Plan
You specifically mention the following regarding fiscal responsibility.
"The answer from the Finance team is below:

The proposed budget included in the Long-Term Plan is significantly impacted by increases in inflation, interest and insurance costs, and depreciation. "

There is no mention of S&P's recent evaluation of WCC opening statement re "Large spending by Wellington City Council (Wellington) will continue to contribute to large after-capital account deficits and a debt burden well-above 'AA+' rated peers.
We expect the council to scale back expenses and implement high rate increases as part of the upcoming 2024-2034 long-term plan, resulting in a declining debt trajectory beyond fiscal 2025 (year ending June 30). . . . We could lower our ratings on Wellington if financial metrics underperform our base-case forecasts. This could occur if revenue growth falls below our expectations or if rising expenses are not contained, which could lead to debt, and interest expenses exceeding our forecasts. This could cause us to reassess our view of the council's financial management and view it as an indication of weakening budgetary flexibility."

Can you provide all information as to why you have not scaled back to any meaningful extent, large spending or expenses and what do you consider the threshold of such spending or expenses.

Yours faithfully,

David Edmund