INDEPENDENT NEWS

Local Authorities Record Surplus

Published: Fri 14 Jun 2002 03:42 PM
Local Authority Statistics: March 2002 quarter
Local Authorities Record Surplus
Local authorities recorded a $53.3 million seasonally adjusted operating surplus in the March 2002 quarter, according to Statistics New Zealand. The latest quarterly local authority survey showed total operating revenue of $989.3 million for the quarter exceeded total operating expenditure of $935.9 million. The March 2002 surplus of $53.3 million was $18.0 million higher than the $35.3 million surplus recorded in the December 2001 quarter. The surplus resulted from a 2.1 percent (or $20.1 million) increase in total revenue and a 0.2 percent (or $2.0 million) increase in expenditure.
During the latest quarter, purchases of goods and services, grants, donations and all other expenditure decreased 1.4 percent (or $6.8 million). Offsetting this fall were increases in interest paid (up 3.8 percent) and depreciation (up 4.0 percent). Employee costs, at $224.0 million, remained virtually unchanged from the previous quarter.
Operating revenue for the March 2002 quarter was $989.3 million, an increase of 2.1 percent compared with the December 2001 result. Revenue from rates, petrol tax, licence fees and fines increased 0.7 percent (or $4.3 million) to $622.9 million. Government grants and subsidies paid to local authorities increased 5.7 percent (or $5.7 million) to $105.1 million during the latest quarter, while sales of goods and services and all other income increased $17.5 million to $199.5 million. Offsetting these rises was a $7.3 million decline in investment income.
Results from the Local Authority Census are now available for the year ended June 2001. Local authorities recorded annual revenue of $3,847.0 million and annual expenditure of $3,620.3 million, resulting in an annual surplus of $226.7 million. Annual revenue showed increases in rates (up $92.4 million), sales and other income (up $27.7 million), and fees and fines (up $15.0 million). Offsetting these were lower investment income (down $33.6 million), grants, subsidies and levies (down $4.1 million), and petrol tax (down $0.1 million). Annual expenditure showed increases in purchases and other expenses (up $94.5 million), depreciation (up $14.8 million), and employee costs (up $10.2 million), while expenditure on interest paid declined $7.8 million compared with the previous year.
Brian Pink Government Statistician END

Next in Business, Science, and Tech

General Practices Begin Issuing Clause 14 Notices In Relation To The NZNO Primary Practice Pay Equity Claim
By: Genpro
Global Screen Industry Unites For Streaming Platform Regulation And Intellectual Property Protections
By: SPADA
View as: DESKTOP | MOBILE © Scoop Media