DCC beats budget projections by $8m

Photo: ODT files
PHOTO: ODT FILES
Fears of financial losses have proven unfounded, the Dunedin City Council having beaten its budget projections for the last year by more than $8million.

The interim end-of-year financial results were presented to a meeting of the council’s finance and council-controlled organisations committee on Tuesday.

The grim spectre of Covid-19 had prompted council staff to forecast an unbalanced budget for the 2020-21 financial year, projecting a deficit of $2.97million for the period.

However, improved revenue and a strong performance from the Waipori fund meant that instead of a loss, the council finished in the black to the
tune of $5.51million, an im-
provement of $8.48million.

Revenue was up in several areas, economic development revenue rising $1.87million.

This increase was due to unbudgeted funding the council received from the Centre of Digital Excellence, Otago Regional Economic Development projects and the regional events fund.

Waste and environmental revenue was up $2.37million due to higher than expected tonnage entering the Green Island landfill, although this was offset by $2.19million in additional costs brought about by the extra dumping.

Aquatic services was another strong performer, raising an extra $551,000 of revenue from gym memberships and swim school patronage.

The Chinese Garden, Olveston Historic Home, the Dunedin Public Art Gallery and Toitu Otago Settlers Museum all had greater than budgeted revenue from admissions and gift shop sales.

The interim result is still subject to final adjustments and an external audit by Audit New Zealand.

andrew.marshall@odt.co.nz

Add a Comment

 

Advertisement