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

 

Local Authority Revenue Rises


Local Authority Revenue Rises

Local authorities' seasonally adjusted operating revenue rose 1.6 percent, reaching $1,101.5 million in the September 2003 quarter, according to Statistics New Zealand. The increase in operating revenue was due to rises in government grants and subsidies (up 14.2 percent to $133.5 million), sales of goods and services and all other income (up 6.6 percent to $219.9 million), and rates, petrol tax, licence fees and fines (up 5.9 percent to $701.3 million). Partly offsetting the increases was a sharp decline in investment income (down 52.5 percent to $46.9 million), which is influenced by the timing of dividend receipts. Total quarterly revenue in the latest quarter is up 7.8 percent compared with the September 2002 quarter.

Total operating expenditure for the September 2003 quarter increased 3.9 percent, largely due to a 9.4 percent increase in purchases of goods and services, grants and donations, and all other expenditure (reaching $550.3 million). This was partly offset by decreases in interest paid (down 17.3 percent to $33.5 million), depreciation (down 0.5 percent to $217.0), and employee costs (down 0.2 percent to $246.4 million). Compared with the September quarter a year earlier, when total operating expenditure of $996.0 million was recorded, the September 2003 quarter showed an increase of 5.1 percent.

Local authorities reported a seasonally adjusted operating surplus of $54.3 million in the September 2003 quarter. This was down on the $75.7 million surplus recorded in the June 2003 quarter. The latest result was due to expenses rising faster than income.

Brian Pink

Government Statistician

© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

Maritime Union: Deepening Supply Chain Crisis Requires Action

Maritime Union of New Zealand National Secretary Craig Harrison says the global COVID-19 pandemic exposed pre-existing weaknesses in our logistics sector, and created enormous problems... More>>



Air New Zealand: Employees Recognised With $1,000 Share Award

The efforts Air New Zealand employees made during one of the airline’s toughest years will be recognised via an award of $1,000 worth of company shares to all permanent employees... More>>

Consumer NZ: Bank Complaints On The Rise, Survey Shows

Nearly one in five Kiwis had a problem with their bank in the past year, Consumer NZ’s latest satisfaction survey finds. Consumer NZ chief executive Jon Duffy said the number of bank customers reporting problems had jumped to 18%, up from 11% in 2020... More>>

Mercury: Enters Into Binding Agreements To Acquire Trustpower’s Retail Business

Mercury NZ Limited (Mercury) has announced that it has entered into binding agreements with Trustpower Limited (Trustpower, NZX:TPW) to acquire Trustpower’s retail business for NZ$441 million... More>>

ALSO:


ASB: New Zealanders Missing Out On Hundreds Of Millions In KiwiSaver Government Contributions

New Zealanders have just over a week to ensure they’re eligible for the maximum annual government KiwiSaver contribution... More>>


Stats NZ: GDP Climbs 1.6 Percent In March 2021 Quarter Following December Dip

Gross domestic product (GDP) rose by 1.6 percent in the March 2021 quarter, following a 1.0 percent fall in the December 2020 quarter, Stats NZ said today. "After an easing of economic activity in the December quarter, we’ve seen broad-based growth in the first quarter of 2021... More>>