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

 

Court Ruling: Kiwifruit NZ Ordered To Consider Collaborative Marketing Proposals

The High Court has told kiwifruit marketer Zespri to reconsider collaborative marketing proposals from Splice Fruit and Seeka Kiwifruit to sell fruit offshore that its board had previously rejected. More>>

ALSO:

Electric Vehicles: No Road User Charges Feature In Govt Package

Drivers of electric vehicles won't have to pay road user charges and will be allowed to drive in bus lanes as part of a new government plan to double EV numbers annually to a target 64,000 by 2021. More>>

ALSO:

Pre-Budget: Computer Emergency Response Team, Assemble!

John Key told the country's first ever Cyber Security Summit in Auckland that the government had earmarked funding set up a national Computer Emergency Response Team to help prevent and act on cyber incidents in partnership with the private sector and other organisations. More>>

ALSO:

Job Cutter Goes: Mark Weldon To Step Down As MediaWorks CEO

“When I joined MediaWorks in August 2014, I had a mandate to lead a significant change programme to bring the business back from receivership into a position where it could once again be a strong competitor in the market, with a sound and sustainable future. It was a big brief, laden with inherent challenges, but I took it in good faith and have dedicated myself fully to the goal since." More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news