24 Jul 2012

Council operating deficits tripled

12:15 pm on 24 July 2012

New figures show councils tripled their operating deficits to $0.6 billion in the year to June 2011.

Statistics New Zealand's local authority financial figures shows operating income rose 6.5% compared with the previous year, while income from rates increased 4.9%.

Spending on core services was up nearly 12%.

Councils nearly tripled recorded their surplus on all transactions to $3.5 billion , while their assets increased by 17%.