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Local Authority Investment Income Rises

Local Authority Statistics: March 2001 quarter

Local Authority Investment Income Rises

Local authorities' investment income rose during the March 2001 quarter, according to Statistics New Zealand's latest Quarterly Local Authority Survey. Investment income in the March 2001 quarter was $81.7 million, an increase of $15.6 million over the December 2000 level of $66.1 million. The increase was due to an increase in dividend income of $11.6 million and an increase in interest revenue of $4.0 million.

Overall, New Zealand's 86 local authorities reported a seasonally adjusted quarterly surplus of $110.0 million in current revenue over current expenditure in the March 2001 quarter. This is an increase of $22.3 million, over the December 2000 quarter result, and an increase of $14.4 million over the March quarter result a year ago, when a surplus of $95.6 million was recorded. The larger surplus is a result of increased operating revenue and relatively static operating expenditure.

Brian Pink GOVERNMENT STATISTICIAN END

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