Just over $145.5 million had been budgeted for the 2021-22 financial year and the actual spend was almost $144 million, or nearly 99% of the budgeted allocation.
The capital spend was $110.8 million in the previous year.
Delivering on capital expenditure has historically been an issue for the council, but chief executive Sandy Graham made it a focus of her appointment, from October 2020.
"We want to deliver for our residents and these figures show we’re doing more of what we should — fixing the stuff that ensures our city functions well," Ms Graham said.
"It does mean we have to put up with some unavoidable disruption, but it’s important to make sure our assets ... remain fit for purpose."
High-profile projects include an upgrade of George St in Dunedin, construction of the Mosgiel Pool and restoration of the Dunedin Railway Station.
Ms Graham said much of the spend, almost $100 million, was for renewing key infrastructure assets, including Three Waters and roading.
Replacing ageing pipes became a focus in the past term, as well as pressing ahead with adjustments to the transport network.
The council plans to deliver almost $190 million of capital expenditure in the 2022-23 financial year.
A steady stream of work had been provided by the council, and contractors had grown their capacity to get it done, Ms Graham said.
In 2016, the council and its contractors were delivering about $37 million of capital work.
City councillor Mike Lord said at a council meeting this week the work needed to be done, and that it was what people had asked for.
He also countered critics of the council increasing staff levels.
"The reason we need more staff is because we’re doing more work," he said.
Deputy mayor Christine Garey said some commentary in the community seemed to show a lack of understanding.
The council had an operating surplus in 2021-22 of just over $13.2 million.
