Auckland Council makes $80 million surplus

1:25 pm on 28 August 2015

The Auckland Council has made an $80 million surplus for the year.

The surplus is smaller than last year's $150 million.

The council said revenue was up 8 percent, but spending rose by 11 percent, mainly through higher depreciation, staff, and spending on weathertightness and land contamination.

The big shift on the council's books was the impact of an accounting component called derivatives, which turned the operating profit into an $88 million loss.