Latest news with #Plan
Scoop
15 hours ago
- Business
- Scoop
Tauranga Council Cuts $9.85m In Costs To Shave 2.1% Off Rates Rise
Tauranga residents are facing a 9.9% rates rise after the council found extra savings. Tauranga City Council faced public criticism for proposing a 12% rates increase, down from a projected 20%. It has found $9.85 million more in cuts to council operating costs to knock off another just over 2%. These included saving $166,000 by turning public recycling bins - which had high contamination rates - into rubbish bins. The biggest cost drop, however, came from employee reductions, with at least 98 roles cut and at $12.3m saved. The council deliberated on its 2025/26 Annual Plan from Monday to Thursday after receiving 968 submissions and hearing from 68 people in person this month. On Thursday Mayor Mahé Drysdale said the changes and savings made in the plan would flow through to future years. Drysdale promised he would keep the rates below those forecast in the long-term plan. The 9.9% overall rates rise was 'not as good' as the councillors would have liked, but it was a start, he said. The council would be looking at every dollar because they needed to be prudent with people's money, Drysdale said. 'We have to respect ratepayers' money, and we have to deliver things for as small a cost as we can.' The community had also told the council more facilities were needed, he said. 'We've been dealt a very tough situation where our infrastructure and our community assets are well below where they need to be.' He said the challenge was finding the balance between delivering projects and reducing rates. 'I'm very proud of this team [and] I think we have delivered a very good balance.' Councillor Glen Crowther said it was a challenging Annual Plan because they were dealing with past decisions that added costs to the organisation. A lot of those decisions were 'firmly locked into place', he said. Crowther said he wanted a lower rates increase. 'I appreciate that a lot of work went into getting to the 9.9%, so I'm not dismissing that, but I think we need to end up lower.' The council's operating expenses were still too high, and he wanted work done before the Annual Plan was adopted in July to reduce rates further, he said. During the four days of deliberations, the council discussed everything from portaloos to tsunami paths in Pāpāmoa. Tauranga Netball asked for $20,000 to lease five portaloos toilets at Blake Park during the winter sports season. Drysdale said this was 'expensive' and they needed to 'get a deal'. The council decided to buy the portaloos and would be able to pay for this within the current budget. The Ōtūmoetai Pool, an 'amazing community asset' slated for closure, was saved. The council also agreed to extend the Pāpāmoa shared coastal path from Parton Rd to Taylor Reserve, provided it cost no more than $1m and could be delivered within the council's current budget. There were some losers from the deliberations. Councillors declined ARGOS Gym Sports $67,000 for a new kitchen and cafe facility, and Bowls Matua would not receive $180,000 to upgrade its third green. Creative Bay of Plenty would also not receive a $77,500 increase in its funding. The rates increase would be finalised in June when the Annual Plan was adopted. How the council achieved its savings • Projects reprioritised or delivered in-house $3.2m • Reduction in consultants and more use of internal services $3.9m • Employee cost reductions $9.1m - 98 roles were disestablished with more possible • Uptake-related kerbside collection cost reduction $900,000 • Interest-related finance cost savings $2m • Increased user fees $2.3m • Reduced engagement and education costs $1.5m • Other organisation-wide cost reductions $5.1m The extra savings to get to 9.9% • Further employee cost reductions $3.2m • Interest and depreciation savings $2.2m • Process improvement savings $3.8m - LDR is local body journalism co-funded by RNZ and NZ On Air.
Yahoo
a day ago
- Business
- Yahoo
FTX Commences Second Distribution of More than $5 Billion to Convenience and Non-Convenience Classes
Customers in Second Distributions Expected to Receive Funds within 1-3 Business Days Subsequent Record and Payment Dates to be Announced in Due Course WILMINGTON, Del., May 30, 2025 FTX Trading Ltd. (d/b/a. and the FTX Recovery Trust (collectively "FTX") today announced that FTX has commenced the distributions of recoveries to holders of allowed claims in FTX's Convenience and Non-Convenience Classes that have completed the pre-distribution requirements (the "Second Distribution"), consistent with FTX's Chapter 11 Plan of Reorganization (the "Plan"). Eligible creditors should expect to receive funds from their selected distribution service provider (a "Distribution Service Provider"), either Bitgo or Kraken, within 1 to 3 business days from May 30, 2025. Subsequent record and payment dates will be announced in due course. In the Second Distribution, in accordance with the waterfall priorities set forth in the Plan: Allowed Class 5A Dotcom Customer Entitlement Claims are receiving a 72% distribution; Allowed Class 5B U.S. Customer Entitlement Claims are receiving a 54% distribution; Allowed Classes 6A General Unsecured Claims and 6B Digital Asset Loan Claims are each receiving a 61% distribution; and Allowed Class 7 Convenience Claims are receiving a 120% distribution. John J. Ray III, Plan Administrator of the FTX Recovery Trust, said: "Today's announcement represents continued progress returning cash to FTX's customers and creditors. I am proud of the outstanding success of the recoveries to date. Our work continues on recovering more for creditors and resolving outstanding claims." To be eligible to receive a distribution on subsequent distribution dates, customers and other creditors must complete the following prior to the distribution record date: Login to the FTX Customer Portal ( (applicable to customers). Complete required Know Your Customer ("KYC") verification. Submit the required tax forms. Onboard with either BitGo or Kraken, FTX's Distribution Service Providers. FTX will provide instructions for onboarding with each of the Distribution Service Providers on the existing FTX Customer Portal. Phishing Advisory Reminder Please remain aware of phishing emails that may look like they are from FTX and scam sites from channels that may appear to look like the FTX Customer Portal ( This is another reminder that FTX will never ask you to connect your wallets. Additional Information U.S. Bankruptcy Court filings, including the Plan and other documents related to the Court proceedings, are available at FTX Digital Markets Ltd. ("FTX DM") will be separately communicating distribution information for customers who have elected to have their claims administered by FTX DM. Advisors FTX is represented by Sullivan & Cromwell LLP as legal counsel and are assisted by Alvarez & Marsal North America, LLC as financial advisor, Perella Weinberg Partners LP as investment banker, Quinn Emanuel Urquhart & Sullivan, LLP as special counsel and Landis Rath & Cobb LLP as Delaware counsel. View original content to download multimedia: SOURCE FTX Sign in to access your portfolio
Chicago Tribune
a day ago
- Chicago Tribune
Best Arlo cameras
While security monitoring services are often expensive and intrusive, leaving your home unprotected is not worth the risk. An excellent way to save money, regain your peace of mind, and have full control over your surveillance system is by setting up one or more Arlo cameras in your home. Discerning security-system buyers have many aspects to consider before investing in a new system, including video recording quality, data storage options, and weatherproofed components. Our buying guide will walk you through these considerations and offer a few recommendations at the end, including our favorite model, the Arlo Ultra 2, which features stunning 4K quality. Power source Since some Arlo cameras rely on a power cord and others use a rechargeable battery, it is important to research how each model is powered to find the best fit for your installation situation. Weather-resistant If you plan on placing an Arlo camera outside, make sure that you buy a model that is weather-resistant against rain, sun damage, and a range of temperatures. Two-way audio Two-way audio allows Arlo system owners to communicate directly with whoever is on the other side of the camera via their smartphone. Whether it's to confirm delivery, tell a solicitor to go away or to let an early guest know that you're on the way to open the door, two-way audio is a handy feature to have on standby. Video quality The video quality of an Arlo camera ranges from 720p to a crisp 4 K, and while you will save money by purchasing a lesser model, you will likely appreciate the vibrant and picture-perfect video of a higher-end camera when looking for small details in your footage. We recommend buying an Arlo camera that supports a video quality of at least 1080p. Recording storage All Arlo cameras send recordings to the cloud by communicating with the companion base station via Wi-Fi, but some models have the option to store video and audio content directly on the device itself. Note that some Arlo cameras use a microSD card for local storage, while others need a USB drive. Bundles If a single camera isn't enough to cover your security needs, Arlo sells a range of cameras and SmartHub bundles. Keep in mind that purchasing a set of two to six Arlo cameras ensures you have the coverage you need from the moment you open the box. You can expect an Arlo camera bundle to include Arlo Basic service. However, if you need to store 30-60 days of footage in the cloud or have vehicle detection alerts sent to your smartphone, you may want to upgrade your default system to a Smart Plan. A single Arlo camera and SmartHub cost anywhere from $149 to $400. If you plan to create a security system with multiple cameras, we highly recommend purchasing a bundle for maximum savings. Q. Which smart home systems will Arlo cameras connect to? A. Arlo security cameras work with Apple HomeKit, Google Assistant and Amazon Alexa. Q. How long will the battery of a wireless Arlo camera last before I need to recharge them? A. Quite a while. Under normal circumstances, Arlo wireless camera batteries will last between three and six months without needing to be recharged. Of course, temperatures below 32 degrees or a poor connection to the Arlo base station will run down the battery much more quickly. Top Arlo camera Arlo Ultra 2 – Two-Camera Kit What you need to know: Although outfitting your property with many Arlo Pro 4 cameras may be costly, those who do will feel secure when they see just how impressive the audio and video quality of this camera truly is. What you'll love: With this camera, you get crystal-clear 4K HDR video quality. Nothing escapes its wide 180-degree field of view. The bundle includes a pair of Arlo Ultra 2 cameras and a base station. Each camera has a color night vision mode, and real-time alerts can be sent to your phone, Apple Watch or Alexa-enabled device. It also features distortion-free, two-way audio. What you should consider: The battery life is poor, so you'll have to recharge both cameras often. Top Arlo camera for the money Arlo Q What you need to know: Simple yet effective, the Arlo Q is an inexpensive way to set up a single high-end security camera to watch over an indoor space via its 50-foot motion detector and instant notification system. What you'll love: This affordable camera features 1080p HD quality video and night vision. The wide 130-degree lens and two-way audio ensure that you don't miss a thing. It has seven-day cloud video storage and is extremely easy to configure. What you should consider: It doesn't have batteries, so you have to plug it in for it to work. Worth checking out Arlo Pro 4 Spotlight Camera – 2 Pack What you need to know: Considering the price and features, this pair of Arlo Pro 4 cameras is a great deal for a solid smart home security system. What you'll love: It's wire-free and easy to set up. While it's not the fanciest Arlo camera, you can still get up to 2K resolution video, which is pretty great for the price. It also features a 160-degree viewing angle, and the package includes two cameras. What you should consider: Some people had issues keeping the cameras connected to their Wi-Fi consistently. BestReviews spends thousands of hours researching, analyzing and testing products to recommend the best picks for most consumers. BestReviews and its newspaper partners may earn a commission if you purchase a product through one of our links. Distributed by Tribune Content Agency, LLC.
Scoop
2 days ago
- Business
- Scoop
Stratford District Council Rates Increase For 2025/26 Stays On Track From Long Term Plan Forecast
Stratford District Council (SDC) has adopted its Annual Plan 2025/26 with an average rates increase of 6.9%. Chief Executive Sven Hanne says, 'After a period of significant project delivery, as well as significant cost increases across most of our operations as a result of record-high inflation, things are now starting to look a bit more settled, and this is apparent in our annual planning for 2025/26.' 'While there are still some unders and overs in the individual budgets, we're pleased to have been able to maintain the overall rates increase for this Annual Plan at 6.9% as originally forecast in year 2 of the Long Term Plan 2024-2034,' says Sven. The Long Term Plan 2024-34 adopted a streamlined approach to the delivery of council services, in recognition of the strained economic environment and a significant reduction in external funding available to council. The Annual Plan 2025/26 realises that vision, with the next 12 months focused on maintaining existing infrastructure and continuing to replace assets when they come to the end of their life. 'It's about being realistic and prioritising our core service areas,' says Sven. 'Two notable exceptions from this will be the upgrade of Prospero Place, Stratford's town square, and the extension of Council's residential subdivision,' he says. The Prospero Place project has been a few years in the making and is now in full flight with draft plans being share with the community this month, and work expected to begin before the end of the calendar year. The residential subdvision is a continuation of the previous council subdivision off Pembroke Road with 2025/26 focused on preparing the site for the delivery of infrastructure, such as roading, water and wastewater. Progressing the outcome of the Local Water Done Well reforms will also be a key area of attention for SDC staff and elected members alike. Both options being consulted on in May 2025 will require additional work across the 2025/26 year, with financial investment from the following year, 2026/27. Outside of Local Water Done Well, SDC is awaiting the outcomes of the Resource Management Act and changes to the Building Act. These are likely to have a big influence on the way all councils operate in the regulatory space, setting a new direction for the delivery of consenting and building services. As part of the Annual Plan adoption, minor changes were made to the Fees and Charges Schedule across building services, parking, solid waste, and sale and supply of alcohol. The full Fees & Charges schedule is available here. Mayor Neil Volzke says, 'We have a lot to be proud of here, in the Stratford district, and we want to keep that feeling alive. Elected Members will continue to work hard to maintain a balanced and realistic approach that manages the needs and wants of our community against our financial performance. Finding that sweet spot, that we believe will result in positive outcomes for the whole community, is what democracy is all about.' The Annual Plan 2025/26 will come into effect from 1 July 2025. View the full plan online here: How much rates you pay can depend on a number of things like: The value of your property The services your property receives (water supply, wastewater or solid waste collection) How many dwellings are on the property View our sample rates on page 14 and 15 of the Annual Plan 2025/26.
The Hindu
2 days ago
- Business
- The Hindu
The case for a special fiscal package for Andhra Pradesh
Andhra Pradesh is in deep financial distress and there is a strong case for the Finance Commission to make a special dispensation for the State. When Telangana was carved out of the larger State of Andhra Pradesh in 2014, the rump State of Andhra Pradesh demanded that it be given a 'special category' status to cope with the loss of Hyderabad, the dominant tax generator of the combined State. Even though then Prime Minister Manmohan Singh gave an assurance on the floor of Parliament conceding this demand, the Act dividing the State did not make any provision for a special category status. The division of the State took effect in June 2014, a time when the National Democratic Alliance government had replaced the United Progressive Alliance government at the Centre; N. Chandrababu Naidu became the first Chief Minister of the rump State of Andhra Pradesh. All through his term (2014-19), Mr. Naidu fought energetically for the parliamentary assurance to be honoured but the Narendra Modi government stonewalled the plea on the ground that the Centre had discontinued the 'special category' scheme on the advice of the 14th Finance Commission. Mr. Naidu, who returned as the Chief Minister in 2024 is staring at near empty coffers after the blows of structural fiscal handicaps and the pressure of funding unaffordable freebies under the preceding Y.S. Jagan Mohan Reddy government (which he topped up handsomely in his own campaign). Competitive freebies under electoral pressures are a State-level issue and the Centre is under no obligation to come to the State's aid. But the Centre has a definite obligation to compensate Andhra Pradesh for the structural fiscal losses it suffered on account of the bifurcation of the State. An option A straightforward option is for the Centre to make an exception and accord 'special category' status to Andhra Pradesh on the ground that it is only fulfilling an assurance given in Parliament. But for Andhra Pradesh itself, this may not be an attractive choice because the 'special category status' has been watered down. Unlike before, when a special category State received substantial fiscal support through Plan assistance, all that it now gets is external loans such as those from the World Bank on slightly softer terms. Such a diluted 'special category status' will be a hollow victory for Andhra Pradesh. A better option for Andhra Pradesh is to seek a special package of assistance that is more generous than a straitjacketed special category status. There are many precedents for politically driven, discretionary special packages such as the Koraput-Balangir-Kalahandi special plan for Odisha and the Bundelkhand special package for Madhya Pradesh and Uttar Pradesh. Bihar was also given a special 'pre-election' package in 2015. However, such 'one off' packages on political and discretionary grounds weaken the federal fabric and are best avoided. A neater option is for the Finance Commission to recommend a special package for Andhra Pradesh. Since the Finance Commission is an apolitical, professional body enjoying a constitutional status, its recommendation will have gravitas. States and divisions But what is the case for Andhra Pradesh that the Finance Commission should consider? All divisions of States into smaller units post 1956 have been done on political, administrative or geographical considerations. This has inevitably resulted in an uneven division of fiscal capacity. There are many indicators of the fiscal capacity of a State. One of the most robust is the State's own revenue. Consider State divisions that happened post 2000: Uttar Pradesh, Madhya Pradesh and Bihar were broken up in the year 2000, and Andhra Pradesh was divided in 2014. The table shows that in terms of per capita own revenue, in each of these cases, the carved out States, namely Uttarakhand, Chhattisgarh, Jharkhand and Telangana, gained at the expense of the rump States. But the loss in the case of Uttar Pradesh and Madhya Pradesh was relatively small when compared to that of Bihar and Andhra Pradesh. One possible formula for a special package is that if the loss in fiscal capacity of a State on account of division is more than 10%, the Centre would give a special package spread over a limited period to compensate for the loss. On this formula, both Bihar and Andhra Pradesh will qualify for assistance. The Finance Commission could of course consider other formulae that it thinks better capture the gain or loss in fiscal capacity. The important thing is that States such as Andhra Pradesh that have lost fiscal capacity on account of bifurcation are not abandoned to fend for themselves. It is incumbent on the Finance Commission, which is free to make recommendations to put our fiscal federalism on a sound footing, to evolve an objective, apolitical and formula-based solution to the problem. Duvvuri Subbarao is former Finance Secretary to the Government of India and a former Governor, Reserve Bank of India
