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


Half A Billion Accounts: Yahoo Confirms Huge Data Breach

The account information may have included names, email addresses, telephone numbers, dates of birth, hashed passwords (the vast majority with bcrypt) and, in some cases, encrypted or unencrypted security questions and answers. More>>

Rural Branches: Westpac To Close 19 Branches, ANZ Looks At 7

Westpac confirms it will close nineteen branches across the country; ANZ closes its Ngaruawahia branch and is consulting on plans to close six more branches; The bank workers union says many of its members are nervous about their futures and asking ... More>>

Interest Rates: RBNZ's Wheeler Keeps OCR At 2%

Reserve Bank governor Graeme Wheeler kept the official cash rate at 2 percent and said more easing will be needed to get inflation back within the target band. More>>


Half Full: Fonterra Raises Forecast Payout As Global Supply Shrinks

Fonterra Cooperative Group, the dairy processor which will announce annual earnings tomorrow, hiked its forecast payout to farmers by 50 cents per kilogram of milk solids as global supply continues to decline, helping prop up dairy prices. More>>



Meat Trade: Silver Fern Farms Gets Green Light For Shanghai Maling Deal

The government has given the green light for China's Shanghai Maling Aquarius to acquire half of Silver Fern Farms, New Zealand's biggest meat company, with ministers satisfied it will deliver "substantial and identifiable benefit". More>>


Get More From Scoop

Search Scoop  
Powered by Vodafone
NZ independent news