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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

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