✨ Trust Bank Otago Community Trust Financial Statements
2942 NEW ZEALAND GAZETTE No. 96
For and on behalf of the trustees:
C. A. MELVILLE, Trustee.
R. S. McKNIGHT, Trustee.
Dated the 24th day of May 1994.
A full list of donations is available from the secretary, P.O. Box 5751, Dunedin. Publication of these took place in the 7th day of August 1993 edition of the Otago Daily Times.
Trust Bank Otago Community Trust Inc.
Income and Expenditure Account for the Year Ended 31 March 1994
| 1994 $ | 1993 $ | |
|---|---|---|
| Income— | ||
| Interest received | 191,911 | 89,225 |
| Dividends received (note 2) | 1,946,295 | 1,264,815 |
| Total income | 2,138,206 | 1,354,040 |
| Less expenses— | ||
| ACC levy | 6 | 316 |
| Advertising | 4,441 | 15,228 |
| Audit fees | 1,000 | 800 |
| General expenses | 850 | 1,816 |
| Professional fees | 9,026 | 5,843 |
| Secretarial fees and expenses | 65,995 | 41,035 |
| Travelling expenses | 9,646 | 8,988 |
| Trustees fees | 31,896 | 32,101 |
| Total expenses | 122,860 | 106,126 |
| Net income before extraordinary item | 2,015,346 | 1,247,914 |
| Extraordinary item— | ||
| Profit on sale of shares in Trust Bank New Zealand Limited | 50,451,783 | 0 |
| Net income before donations | 52,467,129 | 1,247,914 |
| Less donations paid | 1,472,614 | 918,918 |
| Undistributed income | $50,994,515 | $328,996 |
These accounts are to be read in conjunction with the notes set out below.
Trust Bank Otago Community Trust Inc.
Balance Sheet at 31 March 1994
| 1994 $ | 1993 $ | |
|---|---|---|
| Accumulated funds— | ||
| Balance at 31 March 1993 | 22,759,455 | 22,430,459 |
| Add undistributed income from this year | 50,994,515 | 328,996 |
| Total accumulated funds | 73,753,970 | 22,759,455 |
| Represented by current assets— | ||
| Trust Bank Otago—current accounts | 331,253 | 999,118 |
| Trust Bank Otago—short term deposit | 62,230,867 | 0 |
| Trust Bank Otago—term deposits | 1,679,440 | 550,000 |
| National Disaster Relief Fund—at call | 15,267 | 15,716 |
| Interest accrued | 101,751 | 11,460 |
| Total current assets | 64,358,578 | 1,576,294 |
| Deduct current liabilities— | ||
| Sundry creditors | 12,742 | 4,056 |
| Undistributed grant provision—NDRF | 15,135 | 15,135 |
| Total current liabilities | 27,877 | 19,191 |
| Working capital | 64,330,701 | 1,557,103 |
| Add investment (note 3)— | ||
| 24,000,000 shares in Trust Bank New Zealand Limited (at cost) | 9,423,269 | 21,202,352 |
| Net assets as per accumulated funds | $73,753,970 | $22,759,455 |
Signed on behalf of the board of trustees:
C. A. MELVILLE, Chairperson.
R. S. McKNIGHT, Trustee.
Dated the 24th day of May 1994.
These accounts are to be read in conjunction with the notes set out below.
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VUW Te Waharoa —
NZ Gazette 1994, No 96
NZLII —
NZ Gazette 1994, No 96
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Trust Bank Otago Community Trust Financial Statements
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💰 Finance & Revenue24 May 1994
Financial statements, Income and Expenditure, Balance Sheet, Trust Bank Otago, Community Trust
- C. A. MELVILLE, Trustee
- R. S. McKNIGHT, Trustee
- C. A. MELVILLE, Chairperson
- R. S. McKNIGHT, Trustee