Funding for key Auckland projects could be under threat as income from the regional council's business arm tumbles in the face of the global recession.
Auckland Regional Council and its business arm Auckland Regional Holdings have met to discuss the problem.
Auckland Regional Holdings is responsible for $1.2 billion of assets, including a 100% stake in Ports of Auckland.
Chair Judith Bassett said Auckland Regional Holdings is able to meet funding obligations to the end of June, but after that it will be revising how much money it can commit to the regional council.
She said a reduction in business at the port means profits are down, and a serious fall in returns from cash and shares is affecting the pool of money it can return to the council.
Ms Bassett said funding to the council this year was to be about $110 million but could now be as little as $10 million.
It is understood funding for several high-profile projects such as integrated ticketing, rail electrification and the Tank Farm development could be under threat.
Regional council chairman Mike Lee is adamant ratepayers will not miss out. The council is committed to complete the projects it has undertaken to carry out, he said.
A second meeting to discuss the situation is being held on Thursday.