Local Authority Surplus Up

Thursday, 18 March 2004, 11:36 am
Press Release: Statistics New Zealand

The combined operating surplus of New Zealand's 86 local authorities was $60.2 million in the December 2003 quarter, according to Statistics New Zealand. The latest quarterly local authority survey shows the surplus was $10.3 million higher than the $49.9 million surplus recorded in the September 2003 quarter.

Operating revenue rose 3.7 percent to $1,137.5 million in the December 2003 quarter, largely due to investment income, up $44.0 million to $91.2 million. The rise in revenue from rates, petrol tax, licence fees and fines (up 0.8 percent) was more than offset by falls in government grants and subsidies (down 4.7 percent) and sales of goods and services and all other income (down 1.4 percent). Without the rise in investment income, the operating revenue for the December 2003 quarter was $1,093.5 million, virtually unchanged from the September 2003 quarter. The December 2003 quarter showed an increase of $58.8 million (5.4 percent), when compared with the December 2002 quarter.

In the December 2003 quarter, local authority expenditure was $1,077.3 million, an increase of 2.9 percent compared with the previous quarter. All expenditure items recorded increases. Purchases of goods and services, grants and donations and all other expenditure were up 2.0 percent and employee costs rose 2.9 percent. When compared with the December 2002 quarter, the December 2003 quarter showed an increase of $91.7 million (9.3 percent).

Brian Pink
Government Statistician
END

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