New Zealand Gazette – 1993 – No. 166

Page 3381

✨ Financial Statements



11 NOVEMBER

NEW ZEALAND GAZETTE

3381

General

ASB BANK COMMUNITY TRUST

Statement of Income & Expenditure for the year ended 31 March 1993

NOTE 1993 $000 1992 $000
INCOME
From Dividends 2 5,951 5,037
From Other Investments 2 218 212
6,169 5,249

| EXPENDITURE | | | |
| Audit | 8 | 6 | 6 |
| Facilities rental | | 22 | 24 |
| Legal | 3 | 16 | 13 |
| Occupancy | | 23 | 23 |
| Other Operating | | 60 | 56 |
| Public & Statutory Reporting | | 55 | 46 |
| Staff | | 161 | 159 |
| Trustees' Fees | | 58 | 82 |
| Expenses | | 17 | 18 |
| | | 407 | 409 |

| Surplus before Taxation | | 5,762 | 4,840 |
| Taxation | 3 | 2,006 | 1,724 |
| | | 3,756 | 3,116 |

| Unrealised Investment Fluctuations | 2 | 3,756 | (39) |
| Unrealised Investment Revaluations | 4 | 5,898 | 3,815 |

| SURPLUS Before Allocations | | 9,693 | 6,931 |

| ALLOCATIONS | | | |
| Committed Donations | 5 | 3,542 | 2,869 |
| General Reserve | 6 | 200 | -- |
| Investment Fluctuation Reserve | 6 | 39 | -- |
| Investment Revaluation Reserve | 6 | 5,698 | 3,815 |

| Surplus this year | | 14 | 247 |
| Uncommitted Surplus Brought Forward | | 350 | 103 |

| Uncommitted Surplus Carried Forward | | 384 | 350 |

Balance Sheet as at 31 March 1993

NOTE 1993 $000 1992 $000
SOURCE OF FUNDS
TRUST FUNDS
Capital 7 44,320 44,320
Investment Revaluation Reserve 6 20,090 14,192
Investment Fluctuation Reserve 6 89 --
General Reserve 6 1,500 1,300
Uncommitted Surplus 364 350
66,363 60,162

| LIABILITIES | | | |
| Creditors | | 55 | 54 |
| Committed Donations | 5 | 1,791 | 1,962 |
| Taxation | | 0 | 3 |
| | | 1,846 | 2,019 |

| | | 68,159 | 61,281 |

| EMPLOYMENT OF FUNDS | | | |
| INVESTMENTS | | | |
| Shares | 4 | 64,411 | 58,513 |
| Other Investments | | 3,579 | 2,650 |
| | | 67,990 | 61,163 |

| CURRENT ASSETS | | | |
| Cash | | 103 | 60 |
| Debtors | | 3 | 18 |
| ASB Charitable Trust | | 63 | 140 |
| | | 169 | 218 |
| | | 68,159 | 61,281 |

Statement of Cash Flows for Year Ended 31 March 1993

1993 $000 1992 $000
CASH FLOWS FROM OPERATING ACTIVITIES
Cash was provided from:
Refund of expenses by ASB Charitable Trust 654 140
Dividends received 5,951 5,037
Net decrease in term deposits 2,550 --
Interest received on investments 230 225
Cash was disbursed on:
Net increase in term deposits -- (580)
Net bonds purchased (3,443) --
Payment to suppliers, trustees & staff (972) (949)
Net GST paid (5) --
Taxes paid (2,010) (1,701)
Donations to voluntary organisations (2,812) (2,564)
Net cash inflow / (outflow) from operating activities (143) (3,774)

| Net increase / (decrease) in cash held | 143 | (372) |
| Add opening cash brought forward | 60 | 432 |

| Ending cash carried forward | 203 | 60 |

Reconciliation of Reported Surplus to Net Cash Flow from Operating Activities

1993 $000 1992 $000
Reported surplus 14 6,931
Add non-cash items:
Allocation to General Reserve 200 --
Unrealised interest on bonds (111) 189
Add premium paid on bond purchases 13 --

| Movements in working capital items: | | |
| Increase in creditors | 1 | -- |
| Increase in committed donations | 730 | -- |
| Decrease in taxation payable | (3) | -- |
| Decrease in debtors | 15 | -- |
| Decrease in ASB Charitable Trust | 77 | -- |

| Movements in investments: | | |
| Decrease in term deposits | 2,550 | (3,443) |
| Increase in bonds | -- | (693) |

| Net cash inflow from operating activities | 143 | -- |

The notes to these Financial Statements form part of, and should be read in conjunction with these accounts.

Approved on behalf of the Board:

[Signature]
Chairperson

[Signature]
Deputy Chairman



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