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Local Government (Water Services) Act 2025

Planning, reporting, and financial management - Planning - Water services annual budget

241: Contents of water services annual budget

You could also call this:

"What's in a water services annual budget?"

Illustration for Local Government (Water Services) Act 2025

When you look at a water services annual budget, it must have certain information in it for the financial year. This includes the water service provider's proposed budget, which has things like rates, fees, and charges. You can find more about rates in the Local Government (Rating) Act 2002.

The budget also has financial statements and a funding impact statement. The funding impact statement is described in clause 5(2)(e) and (9) of Schedule 3. The budget must explain any big differences between the information in it and the information in the water services strategy for the year.

The budget must be consistent with the provider's approach to funding, revenue, and pricing, as set out in its water services strategy, which you can find in clause 5(2)(a) of Schedule 3. It must also be published in accordance with section 223.

If you are looking at a budget from a water organisation, it may include a list of charges that the organisation must publish under section 91. Any information in the budget must be consistent with requirements from the Commerce Commission under Part 4 of the Commerce Act 1986.

The information in the budget must be prepared in a way that follows generally accepted accounting practice, unless Part 4 of the Commerce Act 1986 says otherwise or it is a funding impact statement, which is described in clause 5(2)(e) and (9) of Schedule 3.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=LMS1010430.

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240: Water services annual budget, or

"A water service provider must make a yearly plan to manage their water services, called a water services annual budget."

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242: Process for making water services annual budget, or

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Part 4Planning, reporting, and financial management
Planning: Water services annual budget

241Contents of water services annual budget

  1. A water services annual budget must, for the relevant financial year,—

  2. contain the water service provider’s proposed budget, including,—
    1. if the water service provider is a territorial authority, any rates proposed to be set under the Local Government (Rating) Act 2002; and
      1. fees and charges (including any charges set by a water organisation under section 86); and
        1. financial statements (as described in clause 5(1) and (2)(d)(i) to (iii) of Schedule 3); and
          1. a funding impact statement (as described in clause 5(2)(e) and (9) of Schedule 3); and
          2. contain any information that the water service provider is required to publicly disclose in the water services annual budget under Part 4 of the Commerce Act 1986; and
            1. explain any significant variation between the information in the annual budget and the corresponding information in the water services strategy for the financial year; and
              1. be consistent with the provider’s intended approach to funding, revenue, and pricing for the financial year, as set out in its water services strategy (see clause 5(2)(a) of Schedule 3); and
                1. be published in accordance with section 223.

                  1. In the case of a water organisation, the water services annual budget may include the list of charges that the organisation is required to publish under section 91.

                  2. Information included in a water services annual budget must be consistent with any applicable requirements or determinations issued by the Commerce Commission under Part 4 of the Commerce Act 1986.

                  3. All information that is included in a water services annual budget must be prepared in accordance with generally accepted accounting practice if that information is of a form or nature for which generally accepted accounting practice has developed standards.

                  4. However, the requirement in subsection (4) does not apply—

                  5. if Part 4 of the Commerce Act 1986 makes alternative requirements; or
                    1. to a funding impact statement that is included in the budget (see clause 5(2)(e) and (9) of Schedule 3).