The move was discussed when QLDC finance general manager Stewart Burns tabled the finance report for the year ending June 30, at the finance and corporate accountability committee meeting this week.
Operating costs were up 2.7% on the budget and the largest unfavourable variances were in roading and sewerage expenditure.
The variance of $662,000 in roading was attributed to costs involved in network and asset management, interest and maintenance.
The $635,000 unfavourable variance in sewerage was put down to repairs and maintenance as a result of establishment costs and an increased workload.
Mr Burns said the operating revenue was up by $350,000 due to user fees, parking fees and roading subsidy.
Development contributions were expected to be reduced.
The year-to-date total was $7.3 million, but the budget was $15.4 million.
Mr Burns said there was a growing number of consents that had been issued but not given effect, which meant the council could not collect contributions.
Vested assets amounted to $10 million, in contrast to a $24 million peak last year.
Cr Gillian Macleod questioned why stormwater expenditure had gone over budget by $270,000 but no-one had an answer.
The overspend came as a surprise to finance committee members who also sat on community and utilities committees.
Cr Vanessa van Uden questioned why there was a $64,000 overspend on maintenance of trees on Queenstown and Wanaka streets, compared to the conditions of the contract.
QLDC chief executive Duncan Field would report back to community and utility general managers to find out the details behind the figures.
Mr Burns said there was a $13 million unrealised loss on valuation on council investment land, which equated to a 15% drop in value.
"This will be in line with the wider property market. We've had periods of steady growth in that area and this is a correction."
