Bruce SmithThe Westland District Council looks set to finish the financial year almost $1 million in the red - a complete reversal of the $1.3 million surplus it had projected. The previous council had previously forecast a surplus of $1.3 million for the year. Despite the large deficit, councillors were mute on the financials, which Mr McMillan noted were interim and were subject to change. Mayor Bruce Smith questioned the forecast overall debt position of $16.7 million, which was $2.4 million less than the $19.1 million projected. The fresh year forecast has budgeted for a $2.5 million surplus at June 30 next year.

Source: Otago Daily Times August 28, 2017 03:11 UTC