Local authorities' rates income rises
Local authorities' income from rates increased $79.3 million to reach $902.9 million in the September 2007 quarter,
Statistics New Zealand said today. This was a 9.6 percent increase from the June 2007 quarter and reflects the new level
of rates struck for the 2007/08 year.
Total seasonally adjusted operating revenue for the September quarter was $1,517 million, a small increase of $6.3
million when compared with the June 2007 quarter. The main contributors to the increase were rates, government grants
and subsidies (up $15.1 million or 7.1 percent), and regulatory income and petrol tax (up $4.9 million or 6.1 percent).
These increases were offset by sales of goods and services (down $64.5 million or 21.2 percent) and total investment
income (down $28.5 million or 31.6 percent).
Total seasonally adjusted expenditure for the September 2007 quarter was $1,503 million. The rise of $47.1 million from
the June 2007 quarter was spread across all the expenditure categories. The main contributors to the rise were
depreciation (up $20.8 million or 6.9 percent), purchases of goods and services and donations (up $16.4 million or 2.1
percent) and employee costs (up $8.8 million or 2.7 percent).
With total operating revenue increasing by $6.3 million since the the June 2007 quarter and total expenditure increasing
by $47.1 million, the resulting quarterly surplus experienced in September fell to $14.0 million from the $54.8 million
experienced in the June 2007 quarter.
ENDS