Council left $483,000 short

Press, 13 September 1988, Page 7

Council left $483,000 short

By

KAY FORRESTER

The Government’s change of heart on revenue sharing will leave the Christchurch City Council $483,000 short this year.

But the City Treasurer, Mr Bob Lineham, believes the deficit in council revenue can be met from other revenue sources.

He cited two likely areas where the shortfall could be made up as interest on airport funds and a surplus of rates levied.

The city’s budget provides for two separate income items relating to airport funds — that payable by the airport company on debt owed to the council and interest payable on the council’s share of remaining joint venture funds. The likely

surplus is $150,000. The amount of rates levied by the council is about $700,000 more than that budgeted. Mr Line-

ham said such a variation was usual and indicated new subdivisions and other adjustments not known at budget time. He warned that greater than normal outstanding rates figure at the end of the year, because of the substantial rise in rates faced by some ratepayers, might absorb a portion of the surplus. But there should still be enough to cover the revenue sharing deficit, he said.