Local authorities' operating surplus continues

Local authorities recorded a $42.8 million seasonally adjusted surplus in the March 2009 quarter, Statistics New Zealand said today. This surplus was down $8.2 million compared with the December 2008 quarter and down $14.1 million compared with the March 2008 quarter.

Total seasonally adjusted operating revenue for the March 2009 quarter was $1,690.7 million, up $1.0 million compared with the December 2008 quarter. Increases in rates (up $17.7 million or 1.8 percent) and sales of goods and services and all other income (up $3.7 million or 1.3 percent) were mostly offset by a decrease in investment income (down $20.0 million or 21.6 percent).

Total seasonally adjusted operating expenditure for the March 2009 quarter was $1,648.0 million, up $9.2 million compared with the December 2008 quarter. Increases in depreciation (up $5.1 million or 1.5 percent) and purchases of goods and services, grants and donations, and all other expenditure (up $4.8 million or 0.6 percent) were the major contributors to this increase.