Local councils underspent in 2015, need to improve forecasting accuracy, Auditor-General says

Thu, 07 Apr 2016

By Sophie Boot April 7 (BusinessDesk) - Local councils spent considerably less than they budgeted on capital expenditure in 2015, with some spending below the rate of depreciation, according to the Auditor-General. In the report on local government audits for the year to June 30, 2015, which was presented to the parliament today, the auditor said local authorities recorded capital expenditure spending of $2.2 billion, down from $2.3 billion in 2014 and just 66 percent of the total budgeted capital expenditure of $3.4 billion. With Auc...

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