Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 

Local Authority Surplus Up

Local Authority Statistics: December 2001 quarter

Local Authority Surplus Up

Local authorities recorded a $76.8 million seasonally adjusted surplus of current revenue over current expenditure in the December 2001 quarter, according to Statistics New Zealand. The latest quarterly local authority survey shows the surplus was $21.7 million higher than the $55.1 million surplus recorded in the September 2001 quarter.

Government grants and subsidies to local authorities decreased $9.4 million to $107.7 million in the December 2001 quarter, compared with the September 2001 quarter. The latest quarter was 8.0 percent lower than the September 2001 quarter result of $117.1 million, but similar to a year ago, when grants and subsidies paid to local authorities were $107.5 million for the December 2000 quarter.

Local authority sales of goods and services and all other income dropped to $170.9 million in the December 2001 quarter, the lowest level in two years. The latest result was $13.6 million or 7.4 percent lower than the September 2001 quarter.

Despite the decrease in revenue from sales of goods and services and government grants and subsidies, an increase of $25.3 million in investment income was sufficient to offset the decline, and total operating revenue rose $1.3 million to $958.0 million.

Total seasonally adjusted operating expenditure decreased $20.5 million to $881.1 million in the December 2001 quarter. This 2.3 percent decline since the September 2001 quarter was primarily due to a decrease in purchases of goods and services, grants and donations and all other expenditure. Operating expenditure in December 2001 was $17.0 million or 2.0 percent higher than the same quarter the previous year.

Brian Pink Government Statistician END

© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

Voluntary Administration: Renaissance Brewing Up For Sale

Renaissance Brewing, the first local company to raise capital through equity crowdfunding, is up for sale after cash flow woes and product management issues led to the appointment of voluntary administrators. More>>

Elsewhere:

Approval: Northern Corridor Decision Released

The approval gives the green light to construction of the last link of Auckland’s Western Ring Route, providing an alternative route from South Auckland to the North Shore. More>>

ALSO:

Media Mega Merger: Full Steam Ahead For Appeal

New Zealand's two largest news publishers have confirmed they are committed to pursuing their appeal against the Commerce Commission's rejection of the proposal to merge their operations. More>>

Crown Accounts: $4.1 Billion Surplus

The New Zealand Government has achieved its third fiscal surplus in a row with the Crown accounts for the year ended 30 June 2017 showing an OBEGAL surplus of $4.1 billion, $2.2 billion stronger than last year, Finance Minister Steven Joyce says. More>>

ALSO:

Mycoplasma Bovis: One New Property Tests Positive

The newly identified property... was already under a Restricted Place notice under the Biosecurity Act. More>>

Accounting Scandal: Suspension Of Fuji Xerox From All-Of-Government Contract

General Manager of New Zealand Government Procurement John Ivil says, “FXNZ has been formally suspended from the Print Technology and Associated Services (PTAS) contract and terminated from the Office Supplies contract.” More>>