✨ Trust Annual Report
7 JULY NEW ZEALAND GAZETTE 2235
General
Trust Bank Bay of Plenty Community Trust Incorporated
Trustee Banks Restructuring Act 1988
Annual Report for the Period Ended 31 March 1994
Trust Particulars
The Trust Bank Bay of Plenty Community Trust was incorporated on 5 August 1988 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:
Ms P. Jones (Chairperson), Mr J. Black, Mr T. Currie, Mr B. Dickie, Mr S. Edward, Mr P. Howard, Mr B. Scantlebury, Mrs R. Tait, Mr T. Te Heuheu, Mr L. Thurston, Mrs M. Townshend, Mrs L. Watling.
Secretary:
Mr A. Short.
Bankers:
Trust Bank Bay of Plenty Limited.
Auditor:
Ingham Mora Malcolm & Russell.
Trustees’ Report for the Period Ended 31 March 1994
Objectives of the Trust: To receive income and allocate such income for charitable, cultural, philanthropic, recreational and other purposes, being purposes beneficial to the community principally in the Bay of Plenty area.
Policies and Structure of the Trust: A charitable trust designed to administer capital and distribute income for charitable purposes in the Bay of Plenty area.
Activities of the Trust: As in previous years, the trust has continued the policy of selecting a number of projects in each region to receive large donations and providing smaller amounts to many other organisations. The 1994 dividend income is substantially higher than the previous year, even after deducting the $7.5 million relating to the 1:1 bonus share dividend from Trust Bank New Zealand Limited. A record total of $511,535 was donated to community organisations throughout the Bay of Plenty.
Review of Results and Financial Position of the Trust: Cash dividends totalling $1,081,275 were received from Trust Bank New Zealand during the year. This is an increase of $378,600. Interest income also records an increase. The Trust’s operating costs reflect the greater workload on Trustees in respect to Trust Bank New Zealand Limited restructuring matters. Concurrent with this, the Trust has been required to appoint an independent Secretary/Treasurer and these costs previously absorbed predominantly by Trust Bank Bay of Plenty Limited now rest with the Trust. The net surplus for the year, including the 1:1 bonus share dividend issue, was $8,080,791 bringing the accumulated trust fund to $18,058,956. The Trust purchased additional shares in Trust Bank New Zealand Limited in March 1994. At balance date the trust holds a total of 30 571 429 shares as follows:
- Directly in Trust Bank New Zealand – 2000 fifty cent ordinary shares
- Through Community Trust Nominees Limited – 30 569 429 fifty cent ordinary shares
Income and Expenditure Account for the Year Ended 31 March 1994
| Income— | Note | 1994 $ | 1993 $ |
|---|---|---|---|
| Dividends | 2 | 8,581,275 | 702,675 |
| Interest | 85,974 | 63,316 | |
| Other | 12,500 | – | |
| 8,679,749 | 765,991 | ||
| Less expenditure— | |||
| Advertising | 11,751 | 4,036 | |
| Audit fees | 338 | 338 | |
| Interest/bank fees | 50 | 87 | |
| Other expenses | 20,258 | 5,059 | |
| Secretarial fee | 7,500 | 5,000 | |
| Trustees’ fees | 28,585 | 27,023 | |
| Travelling expenses | 8,441 | 8,335 | |
| 76,923 | 49,878 | ||
| Net income before donations | 8,602,826 | 716,113 |
Next Page →
PDF embedding disabled (Crown copyright)
View this page online at:
VUW Te Waharoa —
NZ Gazette 1994, No 68
NZLII —
NZ Gazette 1994, No 68
✨ LLM interpretation of page content
💰 Trust Bank Bay of Plenty Community Trust Annual Report for 1994
💰 Finance & RevenueCommunity Trust, Annual Report, Bay of Plenty, Charitable Donations, Financial Summary
13 names identified
- P. Jones (Ms), Chairperson of Trust
- J. Black (Mr), Trustee
- T. Currie (Mr), Trustee
- B. Dickie (Mr), Trustee
- S. Edward (Mr), Trustee
- P. Howard (Mr), Trustee
- B. Scantlebury (Mr), Trustee
- R. Tait (Mrs), Trustee
- T. Te Heuheu (Mr), Trustee
- L. Thurston (Mr), Trustee
- M. Townshend (Mrs), Trustee
- L. Watling (Mrs), Trustee
- A. Short (Mr), Secretary of Trust