The Christchurch City Council says it has only been able to provide estimated financial costs in this year's annual report.
It says that is because the full extent of earthquake damage to the city's infrastructure and other assets remains unknown.
On Thursday the council adopted the 2011 report, which outlines its activities and finances over the past year, including the city's response to the earthquakes.
Mayor Bob Parker says that while the report gives a good account of the council's business over the past 12 months, details of what the earthquake will cost the city are still being worked through.
At this stage, the cost of repairing infrastructure, buildings and other assets is estimated to be about $2.4 billion.
Mr Parker says the council is making good progress in responding to the issues, but it still has a lot of work ahead.