Local authorities post jump in quarterly surplus

Local authorities almost tripled their surplus in the September quarter, compared to the June quarter, Statistics New Zealand said today.

Local authority statistics for the September quarter showed local authorities reported a quarterly surplus of $16.8 million for the September quarter, up from $5.7 million the previous quarter.

Stats NZ said local authorities' total income rose $11.7 million from the June quarter, while total expenditure rose $600,000.

Income from rates, petrol tax, licence fees and fines rose $48.2 million, or 6 per cent, to $851.7 million. Stats NZ said the increase reflected the new level of rates struck for the 2005/2006 year.

Employee costs, which made up 23 per cent of local authorities' current operating expenses for the quarter, rose $5.3 million, or 1.8 per cent, compared to the previous quarter. Compared to the same time last year, employee costs were up 7.6 per cent.

- NZPA