Local authorities had a quarterly operating surplus of $69 million in the December 2011 quarter, after adjusting for seasonal effects.
Seasonally adjusted local authority statistics for the December 2011 quarter, compared with the September 2011 quarter, show that:
- Operating income increased $36 million (up 1.8 percent), driven by rises in rates, and sales and other operating income.
- Operating expenditure decreased $40 million (2.0 percent), driven by falls in purchases and other operating expenditure, and employee costs.
The surplus in the December 2011 quarter is the first since a $14 million surplus in the December 2007 quarter. Local authorities had a $97 million deficit in the December 2010 quarter.
Local authorities' actual (not seasonally adjusted) surplus for the December 2011 quarter was $11 million, compared with a deficit of $144 million in the December 2010 quarter.
|14 March 2012