✨ Financial Statements
NEW ZEALAND GAZETTE
3 JULY
General
Trust Bank Canterbury Community Trust Inc.
Trustee Banks Restructuring Act 1988
Consolidated Statement of Financial Performance for the Year Ended 31 March 1997
| Note | 1997 $
| 1996 $
|
| --- | --- |
| Dividends | |
| CTIL | 700 | — |
| WestpacTrust | 8,400,000 | 12,600,000 |
| Interest | 27,984,817 | 659,150 |
| Investment income | 2,475,257 | 2,492,827 |
| Total revenue | 38,860,774 | 15,751,977 |
| Less expenses | | |
| Advertising, public relations, distribution and travelling costs | 361,278 | 204,034 |
| Audit fees | 12,750 | 7,750 |
| Central administration and support costs | 264,302 | 69,967 |
| Consultants fees | 249,300 | 1,038 |
| Custodial and investment management fees | 123,216 | 123,988 |
| Depreciation and loss on sale | 28,301 | 22,684 |
| Professional fees | 185,938 | 97,990 |
| Property costs | 38,516 | 35,794 |
| Salaries and staff recruiting fees | 279,432 | 145,735 |
| Trustees fees | 89,945 | 82,800 |
| Write off of debit balance in revaluation reserve | — | 14,740 |
| Total expenses | 1,632,978 | 806,520 |
| Net surplus before taxation | 37,227,796 | 14,945,457 |
| Less taxation | — | 40,892 |
| Net surplus before retentions and distributions | 37,227,796 | 14,904,565 |
| Less retentions | | |
| Future donation/capital base reserves | 8,740,535 | 1,427,932 |
| Available for distribution | 28,487,261 | 13,476,633 |
| Donations to tax approved entities | | |
| Donations approved | 2,824,165 | 1,404,225 |
| Special project donations approved | 3,494,188 | 3,592,065 |
| Cancelled donations from prior years | (123,489) | — |
| Total distributed/approved | 6,194,864 | 4,996,290 |
| Net surplus transferred to trust funds | $22,292,397 | $8,480,343 |
| Transferred to: | | |
| Accumulated income reserve | 22,292,397 | 8,480,343 |
The notes to the financial statements form part of and are to be read in conjunction with these financial statements.
Consolidated Statement of Movements in Trust Funds for the Year Ended 31 March 1997
| Note | 1997 $
| 1996 $
|
| --- | --- |
| Total trust funds at beginning of year | 325,737,272 | 254,036,286 |
| Less donations paid from capital | (9,490,218) | (7,807,289) |
| Plus cancelled donations from prior years | 37,661 | — |
| | 316,284,715 | 246,228,997 |
| Add net surplus for the year | 22,292,397 | 8,480,343 |
| Prior years donations transferred to long term commitments | 51,667 | — |
| Increase in capital base reserve | 8,740,535 | 1,427,932 |
| Revaluation of investments | 45,757,244 | 69,600,000 |
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NZ Gazette 1997, No 66
✨ LLM interpretation of page content
💰 Consolidated Statement of Financial Performance for Trust Bank Canterbury Community Trust Inc.
💰 Finance & RevenueFinancial Performance, Revenue, Expenses, Donations, Trust Funds
💰 Consolidated Statement of Movements in Trust Funds for the Year Ended 31 March 1997
💰 Finance & RevenueTrust Funds, Capital, Donations, Revaluation of Investments