24 AUGUST

NEW ZEALAND GAZETTE

2447

period they will not increase at the same rate as income is expected to. Once reserves are fully established the percentage of donations paid relative to income received should increase.

In anticipation of larger sums becoming available for donations, trustees will be making several policy changes designed to:

(a) Increase the profile of the trust so more community groups become aware of its existence.

(b) Upgrade assessment procedures for larger applications to ensure funds are donated in the most appropriate and effective way.

(c) Increase general knowledge of overall community need always trying to reach an acceptable balance in donations policy across the categories of education, health, sport, recreation, community welfare, culture, heritage and the environment.

(d) Increase the frequency of donations. Whereas in the past there has been a single annual donations round, two rounds will be introduced annually for applications less than $10,000. Larger applications will be accepted at any time during the year.

The trust will become a source of increasing community funding. Its ability to assess and process applications as well as keep abreast of ongoing and changing community needs will make growing demands upon its resources. Trustees are determined the trust will respond to this exciting challenge and in so doing play its role in promoting community networks, sporting developments and welfare services throughout Otago.

Administration

In view of the increasing responsibilities that will be placed upon trustees consequent upon the expansion outlined above, a full time executive director was appointed to the trust in November 1994. Mr Keith Ellwood has assumed that position having formerly acted as secretary/treasurer to the trust. The trust appreciates the professionalism and commitment Keith has made to the organisation. In addition there are 2 part-time office staff. Short-term office facilities have been secured in Skeggs House, Tennyson Street, pending a decision about a long-term home for the trust.

Trustees

Currently there are 12 trustees appointed by the Minister of Finance. In addition to having skills and interests which enable them to react both sensitively and sensibly to donation requests from the community each of the trustees must live in the Otago area. The term of appointment of 2 trustees, Mrs Shirley Jones and Mrs Holly Russell ended during the year. Both were foundation trustees and it is appropriate to mention their significant contribution to the success of the trust since 1988. Mr John Edgcombe resigned following his shift out of the area. To each of these trustees the trust as a whole extends its grateful thanks. Their wisdom and advice contributed so much for which we are truly indebted. We warmly welcomed 1 new appointment from Balclutha, Mrs Nancy Bamford.

Public Information

The trust has a responsibility to the public under its trust deed. It is required to hold an annual meeting and to publish its annual accounts and donations list. In keeping with its growing capacity to serve the community the trust plans to create a greater public awareness of its activities in a number of different areas.

The role of the trust and its relationship with the bank is not fully understood. They continue to be seen as the same organisation. The next several years however will witness a continuing emergence of the trust in its own right and a wider public recognition of its very major role in supporting community groups in Otago.

CAROL MELVILLE, Chairperson.

Consolidated Statement of Financial Performance for the Year Ended 31 March 1995