✨ Trust Financial Report
3744 NEW ZEALAND GAZETTE No. 173
Trust Bank Waikato Community Trust
Trustee Banks Restructuring Act 1988
Trust Particulars
The Trust Bank Waikato Community Trust was incorporated as a charitable trust in accordance with the provisions of the Trustee Banks Restructuring Act 1988. The purpose of the community trust is to provide charitable, cultural, philanthropic and recreational benefits to the community.
Trustees
David Joseph Braithwaite, Malcolm MacPherson Brooker, Bertha Carter, Joseph Gilbert Dillon, Martin Owen Gallagher, Lynne Evelyn Holder, Bruce Leighton Hosking, Monica Marjorie Leggat, Robert Te Kotahi Mahuta, Anthony Trevelyan Rogers.
Bankers
Trust Bank Waikato Limited.
Solicitors
Tompkins Wake and Co., Hamilton.
Auditors
Deloitte Ross Tohmatsu, Hamilton.
Trustees' Report for the Period Ended 31 March 1990
The Trust Bank Waikato Community Trust received dividend income of $586,300 during the 1990 financial year. This comprised 2 dividend payments. The first of $471,900 related to the 1989 financial year with the second of $114,300 being an interim dividend for the 1990 year.
Grants totalling $380,670 were made during the current financial year. These were made to 1213 recipients. This represents a continuation of the grant distribution practices adopted previously by Trust Bank Waikato.
It is the trustees' intention to continue this policy and when funds permit, supplement this with some larger grants.
The trustees are pleased to report a net surplus for the year of $218,764. With trust funds conservatively valued at $21.5 million the trust is in a sound position to continue to provide charitable, cultural, philanthropic and recreational benefits to the community.
Income and Expenditure Account for the Period Ended 31 March 1990
| 1990 | 1989 | |
|---|---|---|
| Income— | ||
| Dividends received | 586,300 | — |
| Interest earned | 33,268 | — |
| Sundry income | — | 100 |
| Total income | 619,568 | 100 |
| Less expenditure— | ||
| Trustees' fees | 15,990 | 14,573 |
| Travelling expenses | 2,084 | 3,478 |
| Publication expenses | 1,243 | — |
| Professional fees | — | 817 |
| Other expenses | 817 | 3 |
| Total expenditure | 20,134 | 18,054 |
| Net income before grants | 599,434 | (17,954) |
| Less grants | 380,670 | — |
| Net surplus (loss) transferred to the trust fund | 218,764 | (17,954) |
(The notes to the financial statement form part of and are to be read in conjunction with the above account.)
Balance Sheet as at 31 March 1990
| Note | 1990 | 1989 | |
|---|---|---|---|
| Trust funds— | |||
| Balance start of year | 21,298,668 | 21,316,622 | |
| Funds introduced | — | — | |
| Net income for year | 218,764 | (17,954) | |
| $21,517,432 | $21,298,668 |
Represented by:
Current assets—
| 1990 | 1989 | |
|---|---|---|
| Trust Bank Waikato current account | 4,631 | — |
| National Disaster Relief Fund | 12,155 | — |
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VUW Te Waharoa —
NZ Gazette 1990, No 173
NZLII —
NZ Gazette 1990, No 173
✨ LLM interpretation of page content
💰 Trust Bank Waikato Community Trust Report
💰 Finance & RevenueCommunity Trust, Financial Report, Grants, Dividends, Waikato
10 names identified
- David Joseph Braithwaite, Trustee
- Malcolm MacPherson Brooker, Trustee
- Bertha Carter, Trustee
- Joseph Gilbert Dillon, Trustee
- Martin Owen Gallagher, Trustee
- Lynne Evelyn Holder, Trustee
- Bruce Leighton Hosking, Trustee
- Monica Marjorie Leggat, Trustee
- Robert Te Kotahi Mahuta, Trustee
- Anthony Trevelyan Rogers, Trustee