New Zealand Gazette – 1993 – No. 166

Page 3383

✨ Financial Statements

11 NOVEMBER NEW ZEALAND GAZETTE 3383

ASB CHARITABLE TRUST

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

NOTE	1993 $000	1992 $000
INCOME
From Managed Funds	40,905	34,219
From Other Investments	1,281	1,228
Rent	61	7
	42,247	35,454
EXPENDITURE
Audit	33	24
Depreciation	33	36
Legal	7	5
Occupancy	40	35
Other Operating	81	85
Public & Statutory Reporting	83	72
Staff	252	239
Trustees’ Fees	86	92
Expenses	25	26
	640	614
Unrealised Investment Fluctuations	2	3,032
SURPLUS Before Allocations		44,639
ALLOCATIONS
Capital Maintenance Reserve	3	2,827
Committed Donations	4	18,831
General Reserve	3	23,000
Investment Fluctuation Reserve		173
		44,831
Surplus / (Deficit) this year		(192)
Uncommitted Surplus Brought Forward		378

Uncommitted Surplus Carried Forward		186

Balance Sheet as at 31 March 1993

NOTE	1993 $000	1992 $000
SOURCE OF FUNDS
TRUST FUNDS
Capital	5	251,786
Capital Maintenance Reserve	3	32,660
Investment Fluctuation Reserve	3	10,644
General Reserve	3	40,000
Retained Surplus		186
		335,276
LIABILITIES
Creditors		284
Committed Donations	4	15,580
ASB Bank Community Trust		63
		15,927
		351,203
EMPLOYMENT OF FUNDS
INVESTMENTS
Managed Funds	2	339,106
Other Investments	2	9,265
Investment Properties	2	836
		349,207
CURRENT ASSETS
Cash	6	179
Debtors		13
		192
FIXED ASSETS
		1,804
		351,203

Statement of Cash Flows for Year Ended 31 March 1993

	1993 $000	1992 $000
CASH FLOWS FROM OPERATING ACTIVITIES
Cash was provided from:
Receipts from Fund Managers	10,920	8,190
Net decrease in term deposits	1,300	7,382
Net bonds sold	655	—
Interest received on investments	1,275	1,308
Net receipts from rentals	71	6
	14,221	16,886
Cash was disbursed on:
Payment to suppliers	(30)	(6)
Refunds to ASB Bank Community Trust for services of suppliers, trustees, & staff	(654)	(140)
Fund management & Advisory fees	(1,593)	(1,276)
Net bonds purchased	—	(8,158)
Donations to voluntary organisations	(11,220)	(6,955)
	(13,497)	(16,535)
Net cash inflow from operating activities	724	351
CASH FLOWS FROM INVESTING ACTIVITIES
Cash was provided from:
Sale of vehicle, office equipment & furniture	1	13
Net bills receivable purchased	444	—
	445	13
Cash was disbursed on:
Purchase of vehicle, office equipment & furniture	(37)	(33)
Purchase of land & buildings	(1,019)	—
Net bills receivable purchased	—	(684)
	(1,056)	(717)
Net cash outflow from investing activities	(611)	(704)
Net increase / (decrease) in cash held	113	(353)
Add opening cash brought forward	419	772
Ending cash carried forward	532	419

Reconciliation of Reported Surplus to Net Cash Flow from Operating Activities

NOTE	1993 $000
Reported surplus (deficit)	(192)
Add non-cash items:
Unrealised Investment Fluctuations	(3,032)
Unrealised interest on bonds	(11)
Depreciation	7
Allocation to General Reserve	23,000
Allocation to Capital Maintenance Reserve	2,827
Allocation to Investment Fluctuation Reserve	173
	23,013
Movements in working capital items:
Decrease in operating activity creditors	(38)
Increase in committed donations	7,611
Decrease in ASB Bank Community Trust	(77)
Increase in debtors	(1)
	7,495
Movements in investments:
Decrease in term deposits	1,300
Decrease in bonds	655
	1,955
Plus item classified as investing activity:
Loss on disposal of fixed assets	8
Less Fund Managers’ income reinvested by Fund Managers	(31,555)
Net cash inflow from operating activities	724

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

Approved on behalf of the Board:

Chairperson

Deputy Chairman

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VUW Te Waharoa — NZ Gazette 1993, No 166

NZLII — NZ Gazette 1993, No 166

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✨ LLM interpretation of page content

💰 ASB Charitable Trust Financial Statements (continued from previous page)

Domain💰 Finance & Revenue
KeywordsFinancial Statements, Income, Expenditure, Balance Sheet, Cash Flows, ASB Charitable Trust

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