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


Floods Still Affect Local Authority Finances

Local Authority Statistics: December 2004 quarter —

18 March 2005 2004

Floods Still Affect Local Authority Finances

Floods in the North Island in February and July of 2004 are still impacting on local authority finances, Statistics New Zealand said today. A number of councils remitted rates to owners of flood-damaged properties, which contributed to a small decrease in rates revenue in the December 2004 quarter. However, this decrease was more than offset by an increase in grants and subsidies received, up $19.4 million when seasonally adjusted. The additional grants and subsidies came from central government, to compensate for rates remissions, and from Land

Transport New Zealand (formerly Transfund) for road repairs. The December 2004 quarter figure for grants and subsidies was up 34.7 percent on the December 2003 quarter. Payments for goods and services, grants and donations, and all other expenditure increased 4.1 percent to $632.4 million in the December 2004 quarter.

This is the largest December quarter increase since 1999, and also reflects an element of flood-related expenditure. For some councils, the bad weather in the September 2004 quarter delayed maintenance works until the December quarter.

Total income was $1,230.8 million for the December 2004 quarter, up 3.9 percent compared with the September 2004 quarter. Total expenditure was up 1.8 percent, to $1,165.1 million, resulting in a combined surplus of $65.7 million for New Zealand's 86 local authorities.

Brian Pink

Government Statistician


© Scoop Media

Business Headlines | Sci-Tech Headlines


Watch This Space: Mahia Rocket Lab Launch Site Officially Opened

Economic Development Minster Steven Joyce today opened New Zealand’s first orbital launch site, Rocket Lab Launch Complex 1, on the Mahia Peninsula on the North Island’s east coast. More>>


Marketing Rocks!
Ig Nobel Award Winners Assess The Personality Of Rocks

A Massey University marketing lecturer has received the 2016 Ig Nobel Prize for economics for a research project that asked university students to describe the “brand personalities” of three rocks. More>>


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>>


Half A Billion Accounts, Including Xtra: 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>>


Get More From Scoop

Search Scoop  
Powered by Vodafone
NZ independent news