✨ Financial Statements
NEW ZEALAND GAZETTE
No. 100
3. Reserves
Capital maintenance reserve—
Balance as at 1 April ... 60,565 ... 55,017
Allocation from surplus ... 4,393 ... 5,548
Balance as at 31 March ... $64,958 ... $60,565
General reserve—
Balance as at 1 April ... 58,000 ... 38,000
Allocation from surplus ... 42,000 ... 20,000
Balance as at 31 March ... $100,000 ... $58,000
| 1998 $000 | 1997 $000 |
|---|
4. Donations
For this year—
Committed and disbursed ... 9,791 ... 3,786
Committed but not yet disbursed ... 10,388 ... 8,358
Total donations approved ... 20,179 ... 12,144
Donations written back ... (303) ... (115)
Committed but not yet disbursed—
Committed in previous years ... 2,182 ... 4,537
Committed this year ... 10,334 ... 8,355
Total ... $12,516 ... $12,892
5. Trust Capital
Balance as at 1 April ... 251,786 ... 251,786
Balance as at 31 March ... $251,786 ... $251,786
6. Fixed Assets
| 1998 $000 | 1997 $000 | ||
|---|---|---|---|
| Cost | Accumulated Depreciation | Book Value | |
| Land and buildings | 2,079 | 112 | 1,967 |
| Vehicle, office equipment and furniture | 644 | 390 | 254 |
| Total | $2,723 | $502 | $2,221 |
7. Statement of Cash Flows
The depreciation charged to the cash flow statement includes a sum of $34,068 (1997 $31,586) on charged to the ASB Bank Community Trust as facilities rental.
8. Commitments
Investments
Net investment transactions payable by the fund managers but unsettled prior to year end total $2,535,554 (1997 $513,383).
9. Financial Instruments
Currency Risk
The trust invests in securities that are denominated in foreign currencies and therefore result in a currency risk. In order to minimise the currency risk, foreign currency assets are hedged.
| 1998 $000 | 1997 $000 | |
|---|---|---|
| Foreign currency denominated assets | 246,931 | 175,754 |
| Less foreign currency contracts | 172,236 | 117,997 |
| Net Exposure | $74,695 | $57,757 |
Interest Rate Risk
The trust, through its fund managers, invests in securities that are subject to interest rate risk. The trust actively monitors this risk and changes asset allocations and maturity profiles accordingly.
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VUW Te Waharoa —
NZ Gazette 1998, No 100
NZLII —
NZ Gazette 1998, No 100
✨ LLM interpretation of page content
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Investments Summary for the Year Ended 31 March 1998
(continued from previous page)
💰 Finance & RevenueInvestments, Market Value, Cash, Bonds, Equities, Call Deposits, Reserves, Donations, Trust Capital, Fixed Assets, Cash Flows, Commitments, Financial Instruments