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Infrastructure
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A financial storm: Council costs blow out by almost $1 billion

Operating costs for the supercity spiralled $940 million beyond what was planned, prompted by $685m in spending on storm-affected properties.

Provision of $900m for removing storm damaged homes.

The Auckland Council reported $6.5 billion in operating costs for the year to June, a $940 million blowout to its budget, its latest financial report shows.

While group revenues were up 5.1% on budget at $7.2b, spending was up across every measure – the biggest chunk of which was a $649m provision

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Brent Melville Sat, 28 Sep 2024
Contact the Writer: bmelville@nbr.co.nz
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A financial storm: Council costs blow out by almost $1 billion
Infrastructure,
106051
true