Big surplus for council

A report on the Invercargill City Council’s quarterly financial performance was presented at a finance and policy committee meeting yesterday.

In the document, the council’s acting director of finance Dave Foster said at the end of the first financial quarter the council had a $37.8 million surplus — compared with the forecast $36.8 million surplus.

However, he stated the high level of surplus was due to the full year’s rates revenue and it would be reduced through the year as expenditure occurred.


Invercargill City Council, or Southland district Council?