Council $2m surplus10 times budget forecast

A surplus of almost $2 million has been recorded by the Waitaki District Council in the last financial year, more than 10 times what it budgeted for.

A draft annual report for the 2012-13 financial year was released by the council this week and the result received praised from Waitaki Mayor Alex Familton at the last council meeting.

The council had achieved a healthy surplus, he said.

''That was significant,'' he said, praising council staff for working hard to make savings.

The council's 2012-13 balance sheet showed a surplus of $1.96 million, compared with $367,000 in the previous financial year. The council had budgeted for a $185,000 surplus in 2012-13.

Total income was $43 million, compared with $41.5 million in the previous financial year.

Operating expenditure was $41.1 million, compared with $41.2 million in 2011-12.

Major increases in income were a $300,000 payment from Whitestone Contracting Ltd for subvention payments and dividends; and more than $700,000 in grants and subsidies, the bulk of which was money fundraised by the Omarama community for upgrading its community hall, and held on the community's behalf.

There were also many small increases across other income sectors.

Staff held down expenditure where possible, coming in below budget in many sectors.

What will happen to the surplus will be decided when a report is put to the new council after the October elections.

- david.bruce@odt.co.nz

 

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