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

 


Local Authority Statistics: June 2004 quarter

Local Authority Statistics: June 2004 quarter

17 September 2004

Floods Impact on Local Authority Finances

The February 2004 floods had an impact on the June 2004 quarter financial results of a number of local authorities in the lower North Island, according to Statistics New Zealand. Additional government grants, mainly for road repairs, saw total government grants and subsidies to all New Zealand's 86 local authorities increase to $156.0 million for the quarter, when seasonally adjusted. This was an increase of $15.4 million (11.0 percent) on the March 2004 quarter.

The same floods also contributed to a record quarterly expenditure figure of $1,125.8 million, an increase of $23.4 million (2.1 percent) compared with the March 2004 quarter. Purchases of goods and services, grants and donations, and all other expenditure was the largest component, accounting for $615.6 million, an increase of $18.8 million. Overall, local authorities produced a combined operating surplus of $52.0 million in the June 2004 quarter, a decrease of $23.1 million on the March 2004 quarter.

Provisional figures for the financial year ended 30 June 2004 show local authorities reporting a combined operating surplus of $236.9 million. This is an increase of $11.5 million on the June 2003 annual result. Revenue for the year was $4,616.7 million, an increase of $364.9 million (8.6 percent) compared with the 2003 year. Rates, petrol tax, licence fees and fines increased 7.3 percent, sales of goods and services increased 8.0 percent, government grants and subsidies were up 17.6 percent, and investment income rose 6.6 percent. ƒnƒn

Expenditure was $4,379.7 million in the June 2004 year, an increase of $353.3 million (8.8 percent) compared with the previous year. Employee costs increased 7.2 percent and depreciation rose 4.8 percent. Interest paid decreased 2.3 percent. The largest expenditure category, purchases of goods and services, grants and donations, and all other expenditure, rose 11.8 percent to $2,359.4 million. Brian Pink Government Statistician

ENDS

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Nurofen Promotion: Reckitt Benckiser To Plead Guilty To Misleading Ads

Reckitt Benckiser (New Zealand) intends to plead guilty to charges of misleading consumers over the way it promoted a range of Nurofen products, the Commerce Commission says. More>>

ALSO:

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>>

ALSO:

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>>

ALSO:

Results:

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>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news