2418 NEW ZEALAND GAZETTE No. 122

                                                                                 1993                1992
                                                                                 $                   $

5. Shares
   Shares in Trust Bank New Zealand Limited—
   8,700,000 ordinary shares of $1 each, fully paid ... $11,810,000 $11,810,000

6. Government and Local Authority Stock
   New Zealand Government stock maturing 15 July 1992 @ 13.25 percent ... – 50,000
   New Zealand Government stock maturing 15 February 1995 @ 10 percent ... 230,000 –
   New Zealand Government stock maturing 15 November 1995 @ 8 percent ... 233,000 –
   New Zealand Government stock maturing 15 July 1997 @ 10 percent ... 218,000 –
   Hastings D.C. stock maturing 1 October 1992 @ 13.25 percent ... – 50,000

Nominal value ... 681,000 100,000
Unamortised premium ... 40,624 67
$721,624 $100,067

7. Reconciliation of Net Surplus With Operating Cash Flows
   Net Surplus transferred to trust fund ... 310,877 314,636
   Adjust for non cash items—
   – Interest included in purchase price of investments ... 23,585 1,313
   – Amortisation of premium on investments ... 3,950 650
   – Compounded interest ... (656) (894)
   Movements in net current assets—
   – Sundry debtors ... 2,509 (2,509)
   – Accruals ... 712 (14,409)
   – Sundry creditors ... 2,559 (7,128)
   Net operating cash flows ... $343,536 $291,659

Auditors’ Report to the Trustees of the Trust Bank Eastern and Central Community Trust Inc.
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 give, using the historical cost method, a true and fair view of the financial position of the trust as at 31 March 1993 and the results of its activities and cash flows for the period ended on that date.

DENT ROBERTSON & PARTNERS, Chartered Accountants.
Hastings, New Zealand.
Dated this 27th day of May 1993.

Trust Bank Wellington Community Trust

Trustee Banks Restructuring Act 1988

Trust Bank Wellington Community Trust

Annual Report for the Year Ended 31 March 1993

Trust Particulars

The Trust Bank Wellington 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:
Right Hon. F. D. O’Flynn (Chairperson), Mr M. F. Dunphy, Dr M. B. Jameson, Mr G. Littlefair, Mr K. H. Eddy, Mr W. A. Brien, Ms E. Tennent, M.P., Ms B. S. Stones, Mr N. Ryder-Lewis, Mr G. L. Reeves, M.P.

Bankers:
Trust Bank Wellington Limited.

Solicitors:
Morrison Morpeth.

Auditors:
Deloitte Touche Tohmatsu.

Report of Chairman for the Year Ended 31 March 1993

This is the fifth annual report of the Trust Bank Wellington Community Trust.

Personnel: Two new trustees were appointed by the Minister of Finance; Ms Barbara Stones of Whitby and Mr W. A. Brien of Wellington. Regrettably Mr T. J. McGuinness died in December. He was a valuable member and the month before he