Deficit forecast falls

Environment Southland is forecasting a deficit of almost $160,000 for the financial year, which is substantially less than originally predicted.

The organisational performance and audit committee yesterday received a report that projected a final deficit of $155,807.

Environment Southland had originally budgeted for a deficit of $487,307.

In the last full financial year, it had a surplus of $2.2million.

The operating result for the nine months ended in March was better than budgeted by more than $3million, the report said.

Income was ahead by $220,000, and there was $3million in operational costs for projects not yet completed.

Finance manager Tanea Hawkins informed the committee income from investments was $170,000 less than budgeted.

"These numbers are due to the market fluctuation, but definitely we are in the right direction," she said.