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Auckland City on target to achieve budget

Auckland City on target to achieve budget

Auckland City has tightened its belt to the tune of $300,000, keeping the organisation right on budget for the year.

The council¡¦s Finance and Corporate Business Committee yesterday approved the second operating expenditure review for 2003/04. This review results in a base-operating surplus of $12.4 million, which is $300,000 more than the previous forecast and in line with the annual budget.

¡§The base operating surplus provides funds for vitally needed capital projects so it¡¦s important that we review our position every three months to ensure we¡¦re keeping on track,¡¨ said Councillor Douglas Armstrong, committee chair. ¡§The council has met any unforeseen expenditure without affecting the annual budget by tightening the belt right across the organisation.¡¨

Increased expenditure in some areas was offset by efficiency gains across the organisation, positive trading results from The Edge„µ and increased net revenue from dividends, interest, petrol tax and royalties, to provide the net $300,000 gain.

¡§There is a huge amount of activity underway at Auckland City. It¡¦s our job to ensure that we¡¦re prudent with our finances so that ratepayers¡¦ money is spent in the areas it¡¦s needed most.¡¨

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