Auckland Council records $1.95b surplus

Chief executive Jim Stabback said construction work came to a halt. (Image: supplied)

Mon, 28 Feb 2022

Auckland Council cut capital spending by 24% to $917 million for the six months to December 2021, down $288m on the comparable period in 2020.That was about 71% of budgeted spend for the period of $1.3b, as a result of pandemic restrictions in the city, which saw a number of projects shelved, ramped up employment costs and slashed event-related income.The silver lining was that the net surplus ballooned, by 21% to $1.95 billion, with revenues climbing $235m to $3.8b. That largely reflected a $202m jump in non-cash assets, including the rec...

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