Revenue is up slightly and expenditure down slightly on expectations, but the Dunedin City Council is behind on capital spending.
The council’s net deficit for the period to the end of October, excluding the performance of the Waipori investment fund, was $6.8 million, compared with a budgeted deficit of $10.5 million.
When the Waipori Fund is included, the net deficit is reduced to $3.5 million.
The financial results since July are part of a report presented to councillors ahead of a meeting today.
More rubbish than expected was dumped at the Green Island Landfill after the autumn lockdown and that pushed up revenue, offset by some rising costs.
A boost in building activity in Dunedin led to regulatory services revenue climbing $344,000 above expectations.
The lockdown also seemed to influence revenue generated from aquatic services and gym memberships.
Renewal of gym memberships was delayed by the lockdown period and changes in Covid-19 alert levels affected the timing of some services provided at Moana Pool.
The timing of software licensing and timing of some grants payments were among the reasons for expenditure being below budget.
The capital spend of $30.1million was $12.1million short of the amount due to be spent.
Delayed timing of projects, including the Civic Centre roof renewal and Wall St Manuka Causeway, led to property capital expenditure being underspent by $3.9million.
Transport capital expenditure was underspent by $3.5million, but that mostly reflected the timing of projects such as urban cycleways and intersection improvements.
