Revenue dip for city

The March budget review, based on the actual results to February 28, showed the City’s revenue has reduced by $550,000 since the previous review in November.

A report to council says the reduction is primarily caused by a $483,000 decrease in rates, a $692,000 increase in grants, lower rubbish collection fees and a loss of $275,000 in parking fees due in part to congestion caused by construction projects.

The report says the review does not change the overall financial position of the City from that forecast in November 2013 because capital expenditure has fallen by $3.4 million.