19 AUGUST
NEW ZEALAND GAZETTE
2493

8. Contingent Liabilities
   The community trust (prior to 31 March 1993) undertook commitments to 2 organisations providing they were able to raise the balance of funds required for their projects. The details are as follows:

(a) Ashburton Arts Centre Association Inc—total donation of $150,000 to be made in 3 annual payments.

(b) South Canterbury Women’s Suffrage Centennial Committee for the Kate Sheppard Memorial Garden—total donation of $2,000 to be made in 1 payment.

Auditors’ Report to the Trustees of the Trust Bank South Canterbury 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 for the period ended on that date.

MARTIN WAKEFIELD, Chartered Accountants.
Timaru, New Zealand.

Dated this 15th day of July 1993.

The Hon. Minister of Finance has directed that the Trust Bank South Canterbury Community Trust Inc. need not publish the full list of its donations but a copy of the list of donations is available to anyone upon request to: The Chairperson, Trust Bank Canterbury Community Trust Inc., P.O. Box 591, Timaru.

Trust Bank Waikato Community Trust

Trustee Banks Restructuring Act 1988

Trust Bank Waikato Community Trust

Trust Directory as at 31 March 1993

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

Edith Hazel Barnes, David Bay, David Joseph Braithwaite (Chairman), Malcolm MacPherson Brooker, Bertha Ellen Carter, Martin Owen Gallagher, Ian Robert Gear, James Alistair Grace, Lynne Evelyn Holder, Monica Marjorie Leggat, Robert Te Kotahi Mahuta, Frederick John Hunt Parker and Roger Newton Stanich.

Secretary

Geoffrey Frank Balme.

Bankers

Trust Bank Waikato Limited.

Auditors

Deloitte Touche Tohmatsu, Hamilton.

Trustees’ Report for the Year Ended 31 March 1993

Dividends

Dividends of $1,339,767 (1992: $1,396,824) were received by the Trust Bank Waikato Community Trust from Trust Bank New Zealand Limited during the 1993 year.

Other income amounted to $139,971 (1992: $114,151) being income from other investments held by the trust.

Grants

Grants for 1993 totalled $734,265 (1992: $814,080). This represents a 9.8 percent decrease over the previous year. These grants were made to 1998 recipients.

Trust Funds

A net surplus of $664,089 (1992: $660,460) was transferred to trust funds, giving an accumulated balance of $23,546,884 (1992: $22,882,785). During the year, the trustees have diversified the trust assets with investments in short term deposits, fixed interest securities and managed equity funds.

General

The trust remains in a sound position to continue to provide charitable, cultural, philanthropic and recreational benefits within its area of operation.

Income and Expenditure Account for the Year 31 March 1993