The report, written by chief financial officer Carolyn Allan, will be presented to councillors at tomorrow’s meeting , at which they will be asked to consider details of the council’s work for the year ending June 30.
In his written introduction, Mayor Jules Radich said the report covered the council’s progress made in the 2023-24 year.
The council had delivered a "significant range" of capital projects totalling $206 million, he said.
"This year [the report] is presented in a format designed to make the material more interesting, informative and transparent for anyone reading it."
A highlight of the year for the city was co-hosting the Fifa Woman’s World Cup, which injected $21m into the local economy and had showcased Dunedin to international audiences, Mr Radich said.
"We spearheaded the formation of a citywide stakeholder group to develop a multi-agency approach to homelessness in the city, and we have championed the needs of residents in Dunedin and the lower South Island in challenging any proposed cuts to the new Dunedin hospital."
The council remained focused on investing to secure infrastructure and services for the health and wellbeing of the community, he said.
In the 2023-24 year, the council had generated a total revenue of $640m with a total expenditure of $684m, leaving a deficit of $44m before taxation.
In February, S&P Global Ratings issued the council with a credit rating of AA, indicating its capacity to meet financial commitments was "very strong".
However, S&P also indicated the credit outlook for the council, and 14 others across New Zealand, was negative.
Council debt represented 201% of total revenue — a percentage which had climbed steadily from 141% in 2021.
The annual report is still subject to final clearance from Audit New Zealand and, if adopted, will be published on the council’s website.
