✨ Financial Statements
31 JULY
NEW ZEALAND GAZETTE
1947
whether caused by fraud or error. In forming our opinion we also evaluated the overall adequacy of the presentation of information in the financial statements.
Other than in our capacity as auditors we have no relationship with or interest in the trust.
Unqualified Opinion
We have obtained all the information and explanations we have required.
In our opinion the financial statements:
- comply with generally accepted accounting practice;
- give a true and fair view of the financial position of the trust as at 31 March 1997 and the results of its operations and cash flows for the year ended on that date.
Our audit was completed on 26 May 1997 and our unqualified opinion is expressed as at that date.
KPMG, Auckland.
ASB Charitable Trust
Statement of Income and Expenditure for the Year Ended 31 March 1997
| Note | 1997 $000 | 1996 $000 | |
|---|---|---|---|
| Income— | |||
| Managed funds | 42,111 | 42,467 | |
| Sale of investment property | 2 | 0 | 120 |
| Other investments | 132 | 107 | |
| Rent | 7 | 74 | 74 |
| 42,250 | 42,768 |
Direct expenditure— | | |
Fund management, custodian and advisory fees | | 1,683 | 1,659 |
| | 40,567 | 41,109 |
Committed donations | 4 | 12,029 | 13,209 |
| | 28,538 | 27,900 |
Other expenditure— | | |
Audit | 25 | 25 | 30 |
Depreciation | 47 | 4 | 52 |
Loss on disposal of fixed assets | 7 | 0 | 0 |
Legal | 3 | 3 | 12 |
Occupancy | 34 | 32 | 29 |
Other operating | 63 | 66 | 66 |
Public and statutory reporting | 82 | 72 | 84 |
Staff | 295 | 295 | 295 |
Trustees’ fees | 77 | 72 | 72 |
Trustees’ expenses | 21 | 15 | 15 |
| | 654 | 655 |
Net surplus | | $27,884 | $27,245 |
The net surplus has been allocated as follows:
Capital maintenance reserve | 3 | 5,548 | 6,951 |
General reserve | 3 | 20,000 | 20,000 |
Uncommitted surplus | | 2,336 | 294 |
| | $27,884 | $27,245 |
The notes to these financial statements form part of and should be read in conjunction with this statement of income and expenditure.
Statement of Movement in Trust Funds for the Year Ended 31 March 1997
| 1997 $000 | 1996 $000 | |
|---|---|---|
| Total trust funds at beginning of year | 345,544 | 318,299 |
| Net surplus | 27,884 | 27,245 |
| Total trust funds at end of year | $373,428 | $345,544 |
The notes to these financial statements form part of and should be read in conjunction with this statement of movement in trust funds.
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NZ Gazette 1997, No 79
✨ LLM interpretation of page content
💰
ASB Bank Community Trust Financial Statements
(continued from previous page)
💰 Finance & Revenue26 May 1997
Income, Expenditure, Trust Funds, Balance Sheet, ASB Bank Community Trust, Cash Flows, Investments, Dividends, Donations
- KPMG, Auckland
💰 ASB Charitable Trust Statement of Income and Expenditure
💰 Finance & RevenueIncome, Expenditure, Financial Statements, Trust Funds, ASB Charitable Trust
💰 ASB Charitable Trust Statement of Movement in Trust Funds
💰 Finance & RevenueTrust Funds, Financial Statements, ASB Charitable Trust