Cr Hugh Perkins, who successfully argued for the investigation into potential savings, said this week he did not choose $100,000 a year with an "intimate knowledge" of depreciation funding, but the figure could represent a target for staff.
Council assets group manager Neil Jorgensen said the money set aside for depreciation funding had already been "well reviewed".
The council had the option not to replace assets or to loan-fund the replacement of assets.
Waitaki deputy mayor Melanie Tavendale said the target of $100,000 savings a year was "not aspirational".
"This is money that we will not have in the budget," she said. "Let’s not put a Mickey Mouse figure on it; that makes no sense."
But Waitaki Mayor Gary Kircher said Cr Perkins’ request was reasonable.
"The key is to really collect the last dollar you need to replace it on the day it breaks; that’s the goal," he said.
"If we’re collecting too much money, then we’re just taking money out of people’s pockets that we didn’t need to. If we’re not collecting enough, then the asset breaks down, needs to be replaced and you haven’t got the money, so you need to loan-fund the balance."
Crs Tavendale and Craig Dawson voted against the proposal. After the meeting, council accounting manager Ian Wells said as at June 30 last year, the council had depreciation reserves of just over $33.4million.
"In 2017, council’s total depreciation charge was $11.887million, less unfunded depreciation of $3.797million, and less $6.732million used to fund capital and related expenditure, resulting in a net increase in the reserves for the year of $1.358million," he said.
