New Zealand Gazette – 1993 – No. 98

Page 1880

✨ Trust Bank Canterbury Community Trust Financial Report



1880

NEW ZEALAND GAZETTE

No. 98

Policies and Structure of the Trust:

The trust is structured to include community representatives from all 3 regions of the bank it represents. Its policies are to manage and distribute its income to the community it serves.

Activities of the Trust:

During the period under review the trust has provided financial assistance to a wide range of community groups in Canterbury, Marlborough and Nelson. In addition to responding to applications for assistance the trust has initiated several new projects of benefit to community groups.

Review of Results and Financial Position of the Trust:

The trust distributed over $2.4 million by way of donations to community groups during the last 12 months. The trust’s investment in Trust Bank New Zealand Limited continues to be very profitable and has enabled the trust to expand its charitable work while maintaining a sound financial position.

Income and Expenditure Statement for the Year Ended 31 March 1993

Note 1993 $ 1992 $
Revenue—
Dividend 3,044,925 3,174,600
Interest—
Government and local authorities securities 196,784 156,314
Other 61,848 75,049
Rent received 6,110 5,421
Profit on sale of gondola shares 9,642 –
Total revenue 3,319,309 3,411,384
Less expenses—
Advertising 22,841 16,785
Audit fees 2,650 3,675
Computer software 1,360 1,663
Distribution expenses 20,213 19,884
General expenses including stationery expenses 18,709 13,459
Restructuring expenses 18,538 –
Staff and treasurer expenses 70,415 43,739
Trustees expenses 16,073 16,171
Trustees fees 70,800 75,500
Depreciation 5,467 2,530
Total expenses 247,066 193,366
Net surplus before holding gains/(losses) 3,072,243 3,218,018
Add holding gain/(loss) on fixed interest Government and local authorities securities (78,334) 171,926
Net surplus before donations 2,993,909 3,389,944
Less donations paid or approved 2,671,505 2,449,999
Net surplus transferred to the trust fund $322,404 $939,945

(The notes to the financial statements form part of and are to be read in conjunction with these financial statements.)

Balance Sheet as at 31 March 1993

Note 1993 $ 1992 $
Trust funds—
Balance brought forward, 1 April 1992 58,900,381 57,960,436
Net surplus for year 322,404 939,945
Total trust funds $59,222,785 $58,900,381
Represented by—
Trust Bank Canterbury Limited—
On call account 391,037 112,998
Term investment account 300,000 408,838
Sundry debtors and prepayments 94,926 70,499
Current portion of investments 758,335 2,816
1,544,298 595,151
Investments—
Government securities 917,064 946,285
Local authorities securities 1,249,414 1,000,184
Trust Bank New Zealand Limited shares 2 56,235,000
Community trust social loans 363,491 18,807


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✨ LLM interpretation of page content

💰 Trust Bank Canterbury Community Trust Inc. Trust Directory (continued from previous page)

💰 Finance & Revenue
31 March 1993
Trust Deed, Trustees, Trust Manager, Trust Secretary, Accountants, Auditors, Bankers, Solicitors

💰 Policies and Structure of the Trust

💰 Finance & Revenue
Community Trust, Policies, Structure, Community Representatives

💰 Activities of the Trust

💰 Finance & Revenue
Community Trust, Financial Assistance, Community Groups, Canterbury, Marlborough, Nelson

💰 Review of Results and Financial Position of the Trust

💰 Finance & Revenue
Financial Results, Donations, Community Groups, Charitable Work, Financial Position

💰 Income and Expenditure Statement for the Year Ended 31 March 1993

💰 Finance & Revenue
31 March 1993
Financial Statement, Revenue, Expenses, Dividend, Interest, Profit, Donations

💰 Balance Sheet as at 31 March 1993

💰 Finance & Revenue
31 March 1993
Balance Sheet, Trust Funds, Investments, Government Securities, Local Authorities Securities