Ryan Gray's letter (April 22) dismissed RDRR's (Rotorua District Residents and Ratepayers) press release as "nonsense" but without citing or refuting any of our criticisms of the council's Annual Plan, which may justify statutory management.
He may, therefore, not know what he is talking about.
Instead he asserted that the call for statutory management was "nonsense" because "the council has recently retained its excellent credit rating."
Wrong. It has a marginal credit rating that it is only satisfactory so long as conditions don't change. And conditions are changing. Worse, the credit rating allows council to lift debt as a ratio of revenue to 250 per cent. On last year's revenue of $104 million, it could lift the current debt from $174m to $260m, with higher interest rates forecasted.
Ratepayers, be terrified.