2236 NEW ZEALAND GAZETTE No. 68

Note 1994
$
1993
$
Donations ... 511,535 432,258
R. Dillon scholarships ... 10,500 8,250

Net surplus transferred to the trust fund ... $8,080,791 $275,605

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

Balance Sheet as at 31 March 1994

Note 1994 1993
$
$
Trust Funds:
Balance as at 1 April 1993 ... 9,978,165 9,702,560
Net surplus for period ... 8,080,791 275,605

Balance as at 31 March 1994 ... $18,058,956 $9,978,165

Represented by:
Current assets—
Trust Bank Bay of Plenty—
Current account ... 33,234 14,812
Call account ... — 62,341
Deposit accounts ... 10,000 200,000
Other ... 43,234 277,153
Accounts receivable ... 5,771 10,151

                                                                                           49,005                                                                                       287,304

Current liabilities—
Short term loan ... 370,000 —
Accounts payable ... 16,518 15,605

Working capital ... (337,513) 271,699

Long term assets—
Shares in Trust Bank New Zealand Limited ... 3 3
17,726,000 9,026,000
Government stock ... 670,469 680,466

Net assets ... $18,058,956 $9,978,165

Signed on behalf of the board of trustees:
H. P. JONES, Chairperson.
M. B. DICKIE, Trustee.
Dated this 28th day of May 1994.

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

Statement of Cash Flows for the Period Ended 31 March 1994

                                                                                           1994                                                                                         1993
                                                                                           $
                                                                                           $

Cash flows from operating activities—
Cash was provided from:
Dividend from Trust Bank New Zealand Limited ... 1,081,275 702,675
Interest on investments ... 100,349 84,135
Other ... 22,500 0

Cash was disbursed to:
Suppliers of goods and services ... 38,435 14,504
Trustees ... 47,573 32,766
Donations to the community ... 511,535 432,258
R. Dillon scholarships ... 10,500 8,250

Net cash flows from operating activities ... 596,081 299,032

Cash flows from investing activities—
Cash was provided from:
Bridging finance (15 days)—share purchase ... 370,000 —
Cash was applied to:
Net increase in investments ... (1,200,000) (592,464)

Net cash flows from investing activities ... (830,000) (592,464)

Increase (decrease) in cash held ... (233,919) (293,432)
Add cash at 1 April 1993 ... 277,153 570,585

Cash at 31 March 1994 ... $43,234 $277,153