Local authorities show quarterly surplus
Local authorities show quarterly surplus – Media release
14 March 2014
Local authorities had an operating surplus in the December 2013 quarter, Statistics New Zealand said today. After adjusting for seasonal effects, income exceeded spending by $56.3 million.
"A slight increase in income and a large decrease in spending resulted in the surplus this quarter," local government statistics manager Peter Gardiner said.
Operating income (funding earned for core services) for the December 2013 quarter was just over $2.0 billion, up $17.2 million (0.8 percent) from the September 2013 quarter. During the same period, operating expenditure (spending on core services) was just under $2.0 billion, a fall of $65.8 million (3.2 percent).
The rise in operating income was mainly due to increases in regulatory income and petrol tax (up $21.2 million) and current grants, subsidies, and donations (up $11.2 million). The rise was partly offset by a fall in investment income (down $18.0 million).
The fall in operating expenditure was mainly due to a decrease in purchases and other operating expenditure (down $62.2 million). Increases in employee costs (up $1.2 million) and depreciation (up $0.4 million) partly offset the fall.
Local authority statistics are quarterly accounting-based estimates of the money local authorities in New Zealand earn and spend on their core business.
For more information about these
• Visit Local Authority Statistics: December 2013 quarter – tables
• Open the attached files