30 JULY
NEW ZEALAND GAZETTE
2321

Trustees’ Responsibilities

The trustees are responsible for the preparation of consolidated financial statements which give a true and fair view of the consolidated financial position of the trust as at 31 March 1998 and of the consolidated results of operations and cash flows for the year ended 31 March 1998.

Auditors’ Responsibilities

It is our responsibility to express an independent opinion on the consolidated financial statements presented by the trustees and report our opinion to you.

Basis of Opinion

An audit includes examining, on a test basis, evidence relevant to the amounts and disclosures in the consolidated financial statements. It also includes assessing:

• the significant estimates and judgments made by the trustees in the preparation of the consolidated financial statements, and
• whether the accounting policies are appropriate to the trust’s circumstances, consistently applied and adequately disclosed.

We conducted our audit in accordance with generally accepted auditing standards in New Zealand. We planned and performed our audit so as to obtain all the information and explanations which we considered necessary in order to provide us with sufficient evidence to give reasonable assurance that the consolidated financial statements are free from material misstatements, whether caused by fraud or error. In forming our opinion we also evaluated the overall adequacy of the presentation of information in the consolidated financial statements.

Our firm carries out other assignments for the trust in the area of special consultancy projects. The firm has no other interest in the trust.

Unqualified Opinion

We have obtained all the information and explanations we have required. In our opinion:

• Proper accounting records have been kept by the trust as far as appears from our examination of those records; and
• The consolidated financial statements:
  • comply with generally accepted accounting practice;
  • give a true and fair view of the consolidated financial position of the trust as at 31 March 1998 and the consolidated results of its operations and cash flows for the year ended on that date.

Our audit was completed on 3 July 1998 and our unqualified opinion is expressed as at that date.

TAYLOR McLACHLAN.

Dunedin.

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West Coast Community Trust

Trustee Banks Restructuring Act 1998

West Coast Community Trust

The West Coast Community Trust gives notice that the Minister of Finance has directed each trust that it need not publish the full list of grants in the New Zealand Gazette, but will provide a copy of its lists of grants to anyone upon request from the Secretary, West Coast Community Trust, P.O. Box 190, Hokitika.

The West Coast Community Trust Chairperson’s Annual Report 1997–98 Year

Trustees

James Keenan, Hokitika; Jan Coll, Westport; Stanley Dawson, Hokitika; Jean Doland, Hokitika; Ashley Groom, Greymouth; Frances Hunter, Reefton; Margaret Moir, Hokitika; Brenda Monk, Lake Paringa; and Roy Munn, Greymouth.

Secretary

Alison Aldridge, Hokitika.

On behalf of the trustees of the The West Coast Community Trust I am pleased to present the tenth annual report to the people of the West Coast.

The trust continues its good relationship with a large number of organisations serving our West Coast community and our annual public meetings over recent years have been well attended by representatives of many recipient organisation.

Grants

During the year under review a total of $177,500 was granted to 206 organisations operating within the trust’s specified area and these are set out in the schedule of grants published as part of the financial statements for the year ended 31 March 1998. Since its inception on 1 June 1988 the trust has made 1966 grants totalling $1,277,193 representing an average grant of approximately $650. Due to lack of funds in its formative year only one grant was made in the 1988–89 year and that was by way of a $10,000 grant to the West Coast Flood Relief Appeal administered by the West Coast United Council. In the 9 years following, the trust has therefore made on average 218 grants per annum with the average amount being $650 per grant allocated. These donations again covered a wide spectrum of the services and activities which our communities provide and enjoy.