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Correction

From City Scene, published on 21 October, 2007

Auckland City Council's annual report summary delivered with City Scene last month incorrectly stated on page 8 that the surplus in the past financial year before taxation was $55.3 million. The correct figure was $51.3 million, down $100.7 million on budget because of timing differences in receiving capital subsidies. In the full restatement of comparative balances for the year ending June 2006 on page 7, surplus should have read deficit, and in the notes to the summary financial statements on page 6, total assets of $9.734 billion is $0.7 billion higher than budget. Both figures were stated as millions.