Financial Statements




6 AUGUST

NEW ZEALAND GAZETTE

1998
$
1997
$

Less—
Movements in revaluation reserve ...

24,056,842
Total trust funds at 31 March 1998 ...
48,765,750
44,568,855

Consolidated Statement of Financial Position as at 31 March 1998

Notes 1998 $
1997 $

Current assets—
Trust Bank Wellington ...
10,503
6,332
Accounts receivable ...
182,065
143,936
Prepayments ...
1,519
1,519
Deposits—Trust Bank Wellington ...

363,335
Resident withholding tax ...
110

Total current assets ...
194,197
515,122

Less current liabilities—
Accounts payable ...
474,539
67,658
Total current liabilities ...
474,539
67,658

Net current liabilities ...
280,342
(447,464)

Non current assets—
Fixed assets ...
3
5,332
2,610
Investments ...
4
49,040,760
44,118,781
Total non current assets ...
49,046,092
44,121,391

Net assets ...
48,765,750
44,568,855

Represented by:
Trust funds—
Accumulated funds ...
48,765,750
44,568,855
Total trust funds ...
48,765,750
44,568,855

For and on behalf of the board of trustees:
W. A. BRIEN, Chairperson.
B. M. ALLEWAY, Trustee.

Consolidated Statement of Cash Flows for the Year Ended 31 March 1998

1998 $
1997 $

Cash flows from operating activities—
Cash was provided from:
Investment income ...
8,144,075
8,724,011
Profit on sale of Trust Bank New Zealand shares ...

24,602,905
Interest on investments ...
15,551
110,610
Donations returned and other income ...
10,000
2,285

Total provided ...
8,169,626
33,439,811

Cash was applied to:
Payments to suppliers ...
(191,521)
(274,913)
Payments to trustees ...
(50,046)
(25,317)
Donations to community ...
(3,602,166)
(2,059,405)
Tax paid ...
(110)

Net outflow from operating activities ...
(3,843,843)
(2,359,635)

Net inflow (outflow) from operating activities ...
4,325,783
31,080,176

Cash flows from investing activities—
Cash was applied to:
Purchase of fixed assets ...
(4,801)
(1,166)
Purchase of investments ...
(4,680,146)
(7,444,942)
Realisation of revaluation reserve ...

(24,056,842)

Net inflow (outflow) from investing activities ...
(4,684,947)
(31,502,950)

Net increase (decrease) in cash held ...
(359,164)
(422,774)
Opening cash brought forward ...
369,667
792,441

Closing cash carried forward ...
10,503
369,667

Shown in statement of financial position as:
Deposits—Trust Bank Wellington ...

363,335



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🏢 The Community Trust of Wellington Financial Performance and Fund Movements (continued from previous page)

🏢 State Enterprises & Insurance
Financial Statements, Trust Funds, Donations, Investment Income, Wellington
  • W. A. Brien, Chairperson
  • B. M. Alleway, Trustee