14 Jun 2012

Councils show $50m operating surplus

7:12 am on 14 June 2012

Official figures show councils had a seasonally adjusted operating surplus of $50 million in the three months to March.

Statistics New Zealand says it's the second successive quarterly surplus.

Operating income increased 0.3% to $2 billion, driven by rises in investment income, and sales and other operating income.

Operating expenditure rose 1% to $1.9 billion, due to depreciation and employee costs.