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Floods Impact on Local Authority Finances

18 December 2006

Floods Impact on Local Authority Finances

Floods in July and August had an impact on the September 2006 quarter financial results of several local authorities in the lower North Island, Statistics New Zealand said today. Additional government grants were needed as some towns were flooded. Total government grants and subsidies to New Zealand's 86 local authorities increased to $186.7 million for the quarter (when seasonally adjusted), up $28.9 million (18.3 percent) on the June 2006 quarter.

Total operating revenue for the September 2006 quarter was $1,420.5 million, up $45.2 million (3.3 percent) compared with the June 2006 quarter. The increase was mainly due to rises of $57.6 million in rates, and $28.9 million in government grants and subsidies.

The floods also contributed to a record quarterly expenditure figure of $1,388.7 million, an increase of $39.0 million (2.9 percent) compared with the June 2006 quarter. The purchase of goods and services, grants and donations, and all other expenditure was the largest component, accounting for $745.7 million (up $25.8 million). Overall, local authorities produced a combined operating surplus of $31.8 million in the September 2006 quarter, up from a $25.6 million surplus in the June 2006 quarter.

Brian Pink

Government Statistician

ENDS

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