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Local Authorities Report Surplus

Local Authority Statistics: March 2005 quarter

Local Authorities Report Surplus

Local authorities reported a seasonally adjusted operating surplus of $49.7 million for the March 2005 quarter, Statistics New Zealand said today. The operating surplus for the December 2004 quarter was $68.1 million.

Total operating revenue for the March 2005 quarter was $1,230.2 million, a marginal increase of 0.2 percent ($3.1 million) compared with the December 2004 quarter. The increase was mainly due to a $20.8 million rise in investment income and a $12.1 million increase in rates, petrol tax, licence fees and fines. This was partly offset by decreases in government grants and subsidies (down $24.9 million) and sales of goods and services (down $4.9 million).

Total operating expenditure rose to $1,180.5 million in the March 2005 quarter from $1,159.0 million in the December 2004 quarter. The rise was due to increases in employee costs (up $12.5 million), purchases of goods and services (up $9.9 million) and interest paid (up $5.3 million). This was partly offset by a decline in depreciation (down $6.1 million).

Results from the Local Authority Census are now available for the year ended June 2004. Local authorities recorded an annual operating revenue of $4,626.0 million (up 8.8 percent) and an annual operating expenditure of $4,379.0 million (up 8.8 percent), resulting in an annual surplus of $247.0 million. Contributing to the increase in revenue were general rates (up $169.5 million), grants, subsidies and levies (up $72.9 million), sales and other income (up $65.0 million), fees and fines (up $32.5 million), investment income (up $23.2 million), water rates (up $10.5 million) and petrol tax (up $0.7 million). Increases in purchases and other expenditure (up $208.1 million), employee costs (up $82.8 million), depreciation (up $60.6 million) and interest paid (up $1.2 million) contributed to the increase in expenditure.

Ian Ewing

Acting Government Statistician

END

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