Auckland's new mayor says the city is sailing into an "economic and fiscal storm".
Wayne Brown says he's had a two hour briefing on the council's books, and confirmed his concerns about several risks, including the unknown but rising costs of the City Rail Link and costs associated with Ports of Auckland.
In a statement, he says he's shocked at the value for money ratepayers are getting from Eke Panuku Development and thinks its boss should consider his position.
The briefing to the mayor came from Auckland Council chief executive Jim Stabback.
He told Checkpoint there are financial challenges that need solving in the council's books, especially in an environment of high inflation.
"All the information we provided to the mayor and his team this morning is based on our recently released annual results," he said.
"They were released just last week for the year ended June. They demonstrated I think stable delivery on the commitments made to Aucklanders that year.
"The results were signed off by the Office of the Auditor General, and we're really pleased credit rating agencies have reaffirmed our stable outlook into the future."
