30 JULY NEW ZEALAND GAZETTE 2323

on 9 July immediately following the ordinary meeting on that date. A special meeting at Hokitika to meet with Messrs Ballantyre and Cambridge was also held at Hokitika on 20 March 1998. All meetings were well attended.

Remuneration

Although a promise was made by a former Minister of Finance to pay trustees retrospective increases on honoraria over a period of 7 years the Right Hon. Bill Birch made it quite clear that this could not be done legally. However, effective from 1 September 1997 the honoraria for the chairperson has increased to $3,000 per annum and for other trustees $1,000 per annum and meeting fees have increased to $360 for a full day for the chairperson and $200 for all other trustees. The fees for a half day (less than 6 hours) are now $250 for the chairperson and $140 for trustees.

Obituary

It is with great sorrow that I refer to the passing of Mr John Stott, the trust’s inaugural chairperson. It was John who played a very important part in the setting up of the trust and he steered this trust through a difficult first year with great skill. We have extended our condolences to his widow, Mary and her family and we are deeply appreciative of the fine contribution he made to the West Coast Community Trust.

Appreciation

As this will be my final annual report I wish to record my sincere appreciation to all trustees for their dedication and wise counsel that they have brought to the meetings and activities of the trust and for their support which they have accorded me. I wish to record my thanks to a wonderfully efficient secretary/treasurer in Alison Alldridge who has won the utmost respect not only of all of the trustees but by the many organisations which she has dealt with so competently and so helpfully.

In conclusion, I am delighted to have been associated with a trust which has given its community years of splendid service and with trustees whom I believe have performed their role in a very able manner.

The substantial increase in the funds which the trust manages and its allocation of over $1.25 million splendid achievement and I am confident of the trust’s continuing success.

J. F. KEENAN, Chairperson.

Dated this 17th day of April 1998.

Auditor Report

To the readers of the financial statements of West Coast Community Trust:

We have audited the financial report of the trust. The financial report provides information about the past financial performance of the trust and its financial position as at 31 March 1998. This information is stated in accordance with the accounting policies set out.

Trustees’ Responsibilities

The trustees are responsible for the preparation of a financial report which gives a true and fair view of the financial position of the trust as at 31 March 1998 and of the results of operations for the year ended 31 March 1998.

Auditors’ Responsibilities

It is our responsibility to express an independent opinion on the financial report 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 financial report. It also includes assessing:

• the significant estimates and judgments made by the trustees in the preparation of the financial report, 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 financial report is free from material misstatements, whether caused by fraud or error. In forming our opinion we also evaluated overall adequacy of the presentation of information in the financial report.

Other than in our capacity as auditors we have no relationship with or interests 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 financial report
  • complies with generally accepted accounting practice;
  • gives a true and fair view of the financial position of the trust as at 31 March 1998 and the results of its operations for the year ended on that date.

Our audit was completed on 8 July 1998 and our unqualified opinion is expressed as at that date.

B. M. SMITH, Wilding Smith & Co.

Hokitika.