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

 


Local authorities show quarterly deficit

Local authorities show quarterly deficit

16 June 2014

Local authorities had an operating deficit in the March 2014 quarter, Statistics New Zealand said today.

After adjusting for seasonal effects, expenditure exceeded income by $79.8 million.

“A drop in income coincided with a rise in spending, which led to the deficit this quarter,” local government statistics manager Michele Lloyd said.

Operating income from core services for the March 2014 quarter was just under $2.0 billion. This was a fall of 3.0 percent from the December 2013 quarter. Operating expenditure on core services was $2.1 billion (up 3.3 percent) in the same period.

A drop in dividends was the main cause of the drop in operating income. Dividend income fell $40.9 million from the December 2013 quarter to the March 2014 quarter. Other contributions to the fall in operating income were current grants, subsidies, and donations (down $16.6 million), rates income (down $12.6 million), and sales income (down $7.1 million).

Operating expenditure rose mainly due to purchases and other operating expenditure (up $63.8 million). There were also increases in depreciation (up $3.2 million) and employee costs (up $1.6 million).

More information on local authorities’ financial statistics (including information on individual councils) will be released in Local Authority Financial Statistics: Year ended June 2013. This will be released on 23 July 2014 alongside Government Finance Statistics (Local Government): Year ended June 2013.

For more information about these statistics:
• Visit Local Authority Statistics: March 2014 quarter – tables
ends

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Season Ends: Is Whitebaiting Sustainable?

The whitebait fry - considered a delicacy by many - are the juveniles of five species of galaxiid, four of which are considered threatened or declining. The SMC asked freshwater experts for their views on the sustainability of the whitebait fishery and whether we're doing enough to monitor the five species of galaxiid that make up whitebait. More>>

ALSO:

Crown Accounts: Smaller-Than-Expected Four-Month Deficit

The New Zealand government's accounts recorded a smaller-than-forecast deficit in the first four months of the fiscal year on a higher-than-expected inflow of corporate and goods and services tax. More>>

ALSO:

On For Christmas: KiwiRail Ferries Back In Full Operation After Quake

KiwiRail’s Interislander ferries are back in full operation for the first time since the Kaikoura earthquake, with the railspan that allows rail wagons to be loaded on the Aratere now restored. More>>

ALSO:

Comerce Commission Investigation: Prosecutions Over Steel Mesh Labelling

Steel & Tube Holdings, along with two other companies, will be prosecuted by the Commerce Commission following the regulator's investigation into seismic steel mesh, while Fletcher Building's steel division has been given a warning. More>>

ALSO:

Wine: 20% Of Marlborough Storage Tanks Damaged By Quake

An estimated 20 percent of wine storage tanks in the Marlborough region, the country’s largest wine producing area, have been damaged by the impact of the recent Kaikoura earthquake. More>>

ALSO:

ACC: Levy Recommendations For 2017 – 2019 Period

• For car owners, a 13% reduction in the average Motor Vehicle levy • For businesses, a 10% reduction in the average Work levy, and changes to workplace safety incentive products • For employees, due to an increase in claims volumes and costs, a 3% increase in the Earners’ levy. More>>

Women's Affairs: Government Accepts Recommendations On Pay Equity

The Government will update the Equal Pay Act and amend the Employment Relations Act to implement recommendations of the Joint Working Group on Pay Equity. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news