NZ local authorities spend record $2.3 bln in second quarter, generating deficit of $145M

Mon, 10 Sep 2012

Sept. 11 (BusinessDesk) - New Zealand’s 11 regional councils and 68 territorial authorities spent $145 million more than they earned in the second quarter, continuing an almost unbroken run of deficits reaching back to 2007, government figures show. Total operating income, which includes rates, investment returns, grants, subsidies and donations, regulatory income such as building consent and dog registration fees, and operating income such as admissions and service charges, rose 7 percent to $2.16 billion in the second quarter from the first...

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