The Auckland Council Group has released its first full 12 month financial result to the NZX.
The group includes the seven council-controlled organisations that deliver services and facilities.
There was a surplus of $278 million in the year ended June 30, which includes the revaluation of property, plant and equipment.
Before income was taken into account, there was an after tax deficit of $233 million.
$167 million of that was lost from the impact of falling interest rates on the value of borrowing.
Photo: NZ Herald