✨ Trust Report and Financial Statement
18 JULY NEW ZEALAND GAZETTE 1847
Chief Executive Designate:
R. L. E. Austin.
Executive Director:
K. M. Loughlin.
Donations Officer:
P. D. Stewart.
Administrative Assistant:
L. E. Riddler.
Accountants:
KPMG, P.O. Box 274, Christchurch (M. J. Hadlee).
Auditors:
Deloitte Touche Tohmatsu, P.O. Box 248, Christchurch (I. G. Rowley).
Investment Fund Manager:
Armstrong Jones (NZ) Limited.
Custodial Trustee:
State Street Limited.
Bankers:
Trust Bank New Zealand Limited.
Solicitors:
Buddle Findlay, P.O. Box 322, Christchurch (C. H. Levin).
Trustees’ Report for the Year Ended 31 March 1996
Objectives of the Trust and Charitable Company Subsidiary:
To provide charitable, cultural, philanthropic and recreational benefits to the communities of Canterbury, Marlborough and Nelson.
Policies and Structure of the Trust and Charitable Company Subsidiary:
These organisations are structured to include community representatives from all three regions of the bank it represents. Their policies are to manage and distribute their income to the community they serve.
Activities of the Trust:
During the period under review the trust and its charitable subsidiary have provided financial assistance to a wide range of community groups in Canterbury, Marlborough and Nelson. In addition to responding to applications for assistance these organisations have initiated several new projects of benefit to community groups.
Trustees’ Remuneration:
During the period the trustees of the trust received $82,800 (1995 $81,736) in trustee’s fees.
Review of Results and Financial Position:
The total distribution from the trust and charitable company was $12.9 million (1995 $6.7 million) by way of donations to community groups during the last 12 months.
Signed on behalf of the board of trustees:
Chairperson: I. D. HOWELL.
Trustee: R. J. TODD.
Date: 28 May 1996.
Consolidated Statement of Financial Performance for the Year Ended 31 March 1996
| Note | 1996 $ | 1995 $ |
|---|---|---|
| Revenue | ||
| Dividend | 12,600,000 | 7,725,000 |
| Interest | 659,150 | 1,139,900 |
| Investment income | 2,492,827 | 819,559 |
| Total revenue | 15,751,977 | 9,684,459 |
| Less expenses | ||
| Advertising, public relations, distribution and travelling costs | 216,028 | 111,569 |
| Audit fees | 7,750 | 5,550 |
| CTIL administration and support costs | 57,973 | 48,117 |
| Custodial and investment management fees | 123,988 | 51,109 |
| Depreciation and loss on sale | 22,684 | 14,126 |
| Premises | 35,794 | 32,729 |
| Salaries and professional fees | 244,763 | 153,252 |
| Trustees fees | 82,800 | 81,736 |
| Write off of debit balance in revaluation reserve | 4 | 7,899 |
| 14,740 |
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VUW Te Waharoa —
NZ Gazette 1996, No 73
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NZ Gazette 1996, No 73
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Trust Bank Canterbury Community Trust Inc. Trust Directory for the Year Ended 31 March 1996
(continued from previous page)
💰 Finance & Revenue28 May 1996
Trust Directory, Trust Bank, Canterbury, Community Trust, Financial Report
6 names identified
- R. L. E. Austin, Chief Executive Designate
- K. M. Loughlin, Executive Director
- P. D. Stewart, Donations Officer
- L. E. Riddler, Administrative Assistant
- I. D. Howell, Chairperson of the board of trustees
- R. J. Todd, Trustee
- I. D. Howell, Chairperson
- R. J. Todd, Trustee