Local authorities show small surplus
Local authorities show small surplus – Media release
15 March 2013
Local authorities had a small operating surplus in the December 2012 quarter, Statistics New Zealand said today. After adjusting for seasonal effects, income exceeded expenditure by $0.3 million.
"Although minor, this surplus comes after more than two years of quarterly deficits," local government statistics manager Peter Gardiner said.
The surplus was the result of a rise in operating income (funding earned for core services) and a fall in operating expenditure (spending on core services).
Operating income for the December 2012 quarter was $2.1 billion, up $50 million (2.5 percent) from the September 2012 quarter. Operating expenditure decreased during the same period by $37 million (1.8 percent).
The rise in operating income was mainly due to rises in investment income (up $30 million) and current grants, subsidies, and donations income (up $9 million). There were smaller increases in rates (up $7 million), and sales and other operating income (up $6 million). These rises were partly offset by a fall in regulatory income and petrol tax (down $2 million).
The fall in operating expenditure was mainly due to a decrease in purchases and other operating expenditure (down $54 million). This decrease was partly offset by increases in employee costs (up $12 million), and depreciation (up $7 million).
Local authority statistics are quarterly accounting-based estimates of the money local authorities in New Zealand earn and spend on their core business.
information about these statistics:
• Visit Local Authority Statistics: December 2012 quarter
• Open the attached files