✨ Community Trust Financial Reports
1 AUGUST
NEW ZEALAND GAZETTE
2541
Remuneration
The Minister of Finance advised that he had agreed with the trustees recommendation regarding remuneration, namely that the honoraria remain at the previous year's level but that the meeting fees be increased from $70 per half day and $100 per full day to $90 and $140 respectively.
Public Meeting
The trustees were again disappointed at the poor attendance at the public meeting held on Tuesday, 17 July 1990 and have invited the latest recipients of grants to the next public meeting.
Appreciation
As chairperson I express my appreciation of the support received from all trustees and for the time they have devoted to meeting attendance and in particular to the consideration they have given to the large number of applications for grants during the year. I would also like to acknowledge the excellent service given by our secretary, Alison Alldridge throughout the year. The trust also wishes to place on record the generosity of Westland Bank Limited in making their boardroom available free of charge for our ordinary meetings.
J. F. KEENAN, Chairperson.
Dated this 1st day of May 1991.
Audit Report to the Trustees of Westland Bank Community Trust
We have audited the financial statements in accordance with accepted auditing standards, and have carried out such procedures as we considered necessary.
In our opinion, the financial statements are properly drawn up and show a true and fair view, on a historical cost basis, of the financial position of the trust as at 31 March 1991 and income and expenditure for the year ended on that date.
CAMPBELL & ASSOCIATES.
Westport, New Zealand.
Dated this 31st day of May 1991.
Balance Sheet as at 31 March 1991
| Current assets— | 1991 $ | 1990 $ |
|---|---|---|
| Westland Bank cheque account | 240,076 | 79,048 |
| Interest PAYE refund due | — | 24,665 |
| Accrued interest | 46,995 | — |
| 287,071 | 103,713 |
| Investments (note 2)— | | |
| Westland Bank deposits | 1,550,000 | 3,000,000 |
| Postbank | 400,000 | — |
| National Bank | 400,000 | — |
| Westpac | 400,000 | — |
| Rural Bank | 406,865 | — |
| | 3,156,865 | 3,000,000 |
| Fixed assets (note 5)— | | |
| Typewriter | 1,615 | 2,019 |
| Total assets | $3,445,551 | $3,105,732 |
| Liabilities— | | |
| Accounts payable | 172 | — |
| | 172 | — |
| Accumulated funds (note 1)— | | |
| Opening balance | 3,105,732 | 2,039,585 |
| Add retained surplus | 339,611 | 66,147 |
| Capital gain on shares | — | 1,000,000 |
| | 3,445,343 | 3,105,732 |
| Total funds and liabilities | $3,445,515 | $3,105,732 |
J. F. KEENAN, Trustee.
J. DOLAND, Trustee.
The attached notes form part of these financial statements.
Income and Expenditure Account for the Year Ended 31 March 1991
| Income— | 1991 $ | 1990 $ |
|---|---|---|
| Interest received (note 4): | ||
| Westland Bank | 382,486 | 156,174 |
| Westpac | 41,580 | — |
| National Bank | 6,312 | — |
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VUW Te Waharoa —
NZ Gazette 1991, No 116
NZLII —
NZ Gazette 1991, No 116
✨ LLM interpretation of page content
💰
Westland Bank Community Trust Annual Report
(continued from previous page)
💰 Finance & Revenue1 May 1991
Remuneration, Meeting Fees, Public Meeting, Grants, Trustees
- Alison Alldridge, Secretary acknowledged
- J. F. Keenan, Chairperson
💰 Audit Report for Westland Bank Community Trust
💰 Finance & Revenue31 May 1991
Audit, Financial Statements, Trust, Westport
- CAMPBELL & ASSOCIATES
💰 Balance Sheet for Westland Bank Community Trust
💰 Finance & RevenueFinancial Statements, Assets, Liabilities, Investments
- J. F. KEENAN, Trustee
- J. DOLAND, Trustee