INDEPENDENT NEWS

Floods Impact on Local Authority Finances

Published: Mon 18 Dec 2006 11:05 AM
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

Next in Business, Science, and Tech

The Sky Is The Limit - Air New Zealand To Relaunch 14 International Routes In 16 Days
By: Air New Zealand
Update On Hidden Economy Real Estate Campaign
By: Inland Revenue Department
Consumer Confidence Plummets To Record Lows As Financial Pressures Mount
By: Westpac
NZ Economy: Prevailing Headwinds
By: BusinessNZ
Shared Cheese Heritage Should Be Shared Not Stripped
By: NZ Specialist Cheesemakers Assn
Download Weekly - $60 million for more rural connections
By: Digitl
View as: DESKTOP | MOBILE © Scoop Media