Waikato District Council reports $26.7m surplus for 2025/26
Wednesday 7 October 2026 · 1 outlet · 2 reports · updated In this story Waikato Times, Waikato District Council
The Waikato District Council recorded a $26.7 million operating surplus for the 2025/26 financial year, despite budgeting for a $5.8 million deficit. This financial result comes as CEO Craig Hobbs is stepping down after less than two years in the role.
Key facts
4 facts
- Waikato District Council recorded a $26.7m operating surplus for 2025/26
- CEO Craig Hobbs is resigning at the end of the month
- Asset values were $533.7m above budget at year end
- Water and wastewater assets worth $1.1b transferred to IAWAI on July 1
The full story
1 min read · 1 outlet
Waikato District Council has recorded a $26.7 million operating surplus for the 2025/26 financial year. This result significantly exceeded the $5.8 million deficit that had been budgeted for the period. The surplus was driven by revenue being $40 million above budget, though operating expenditure was $7.6 million higher than expected.
The council's CEO, Craig Hobbs, will leave his position at the end of the month. Hobbs, who was appointed in December 2024, stated that the organisation is now well positioned for the future. Mayor Aksel Bech noted that finding a permanent replacement would likely wait until after the general election due to uncertainties regarding potential council amalgamations.
Financial gains were bolstered by asset valuations that were $533.7 million above budget. Chief financial officer Paul Conder attributed these increases to higher replacement costs for infrastructure such as water, wastewater, stormwater, and roading networks. Additionally, investments in council-controlled entities were $9.2 million above budget, partly due to the valuation of Waikato Regional Airport Limited.
The council also completed the transfer of $1.1 billion in water and wastewater assets to IAWAI on July 1. Following this transfer, the council holds a 36% ownership stake and 50% voting rights in the new entity.
Compiled from reports by Waikato Times.
