✨ Financial Statements
6 AUGUST
NEW ZEALAND GAZETTE
| Group 1998 $ | Group 1997 $ | Trust 1998 $ | Trust 1997 $ | |
|---|---|---|---|---|
| Transfer to Southland Community Trust Charities Limited ... | 0 | 0 | 23,368,928 | 0 |
| Trust capital—end of year ... | $181,317,045 | $177,047,078 | $165,869,746 | $177,047,078 |
Statement of Financial Position as at 31 March 1998
| Note | Group 1998 $ | Group 1997 $ | Trust 1998 $ | Trust 1997 $ | |
|---|---|---|---|---|---|
| Funds employed: | |||||
| Trust capital | $181,317,045 | $177,047,078 | $165,869,746 | $177,047,078 | |
| Liabilities: | |||||
| Accounts payable | 197,763 | 42,064 | 197,763 | 42,064 | |
| Grants committed but not paid | 8,561,572 | 5,039,340 | 3,249,058 | 5,039,340 | |
| Southland Community Trust Charities Limited | 0 | 0 | 10,080,508 | 0 | |
| Total liabilities | 8,759,335 | 5,081,404 | 13,527,329 | 5,081,404 | |
| Total capital and liabilities | $190,076,380 | $182,128,482 | $179,397,075 | $182,128,482 |
Assets:
| | | | | | |
| Current assets: | | | | | |
| WestpacTrust cheque account | | 281,919 | 609,377 | 349,760 | 609,377 |
| Accounts receivable and interest accrued | | 257,926 | 2,109,236 | 210,778 | 2,109,236 |
| Total current assets | | 539,845 | 2,718,613 | 560,538 | 2,718,613 |
| Fixed assets | 3 | 1,112,077 | 108,869 | 1,112,077 | 108,869 |
| Investment assets: | | | | | |
| WestpacTrust call account | | 2,271,997 | 151,000 | 2,071,997 | 151,000 |
| Trading bank deposits | | 46,000,000 | 168,150,000 | 35,500,000 | 168,150,000 |
| TeNZ fund 10 million units | | 11,600,000 | 11,000,000 | 11,600,000 | 11,000,000 |
| Managed funds— | | | | | |
| ANZ funds management | 4 | 42,337,526 | 0 | 42,337,526 | 0 |
| Armstrong Jones | 4 | 42,857,206 | 0 | 42,857,206 | 0 |
| Bankers Trust | 4 | 42,127,809 | 0 | 42,127,809 | 0 |
| Southland Community Trust Charities Limited | | 0 | 0 | 2 | 0 |
| Invest South Limited | 5 | 1,229,920 | 0 | 1,229,920 | 0 |
| Total investment assets| | 188,424,458 | 179,301,000 | 177,724,460 | 179,301,000 |
| Total assets | | $190,076,380 | $182,128,482 | $179,397,075 | $182,128,482 |
Signed on behalf of the board of trustees:
C. S. BALLANTYNE, Chairman.
W. A. CAMBRIDGE, Trustee.
Statement of Cash Flows for the Year Ended 31 March 1998
| Note | Group 1998 $ | Group 1997 $ | Trust 1998 $ | Trust 1997 $ | |
|---|---|---|---|---|---|
| Cash flows from operating activities—Cash was provided by (applied to): | |||||
| Administration expenses | -905,960 | -637,480 | -904,053 | -637,480 | |
| Grants to the community | -6,508,002 | -3,400,601 | -3,159,635 | -3,400,601 | |
| Net cash flows from operating activities | 8 | -7,413,962 | -4,038,081 | -4,063,688 | -4,038,081 |
| Cash flows from investing activities—Cash was provided by (applied to): | |||||
| Sale of Trust Bank New Zealand shares | 0 | 162,603,993 | 0 | 162,603,993 | |
| Proceeds from disposal of other investments | 132,650,000 | 0 | 132,650,000 | 0 | |
| Interest and dividends | 13,046,539 | 15,718,318 | 12,352,526 | 15,718,318 | |
| Investments | -135,498,864 | -180,219,921 | -124,998,866 | -180,219,921 | |
| Fixed assets | -990,172 | -111,187 | -990,172 | -111,187 | |
| Net cash flows from investing activities | 9,207,503 | -2,008,797 | 19,013,488 | -2,008,797 |
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VUW Te Waharoa —
NZ Gazette 1998, No 107
NZLII —
NZ Gazette 1998, No 107
✨ LLM interpretation of page content
💰
Financial Report of The Community Trust of Southland
(continued from previous page)
💰 Finance & Revenue30 June 1998
Financial Report, The Community Trust of Southland, Audit Report, Financial Statements, Accounting Policies, True and Fair View
- C. S. Ballantyne, Chairman of the board of trustees
- W. A. Cambridge, Trustee