Dunedin City Council owned companies have returned a record $19.5 million to the council in the past financial year, in the form of dividends and cash payments.
The news is music to the councils' ears and could be for city rate-payers aswell.
The Dunedin City Holdings group which includes City Forests, Delta, Citibus, and the Taieri Gorge had a record trading year with cash flow up 8 per cent on last year.
The almost twenty million will go back into the council with the councillors deciding what it is to be spent upon.
City Holdings chairman Paul Hudson says the combined companies performance is good news for rate-payers, as the more earned the less rates-take is needed for council expenditure.
He says the council's not looking to sell off any of its assests at present but is always on the look out to secure more.
He's hoping the anticipated Government carbon trading credits will come into force, as it could see the DCC several million dollars richer due to their ownership of City Forests.