NEW ZEALAND GAZETTE
No. 150
| Note |
1999 |
|
$ |
| Salaries and staff costs |
214,220 |
| Fund manager fees |
906,733 |
| Professional fees |
152,784 |
| Occupancy costs |
18,330 |
| Communications |
14,412 |
| Office expenses |
20,016 |
| Audit fees |
5,834 |
| General expenses |
52,429 |
| Vehicle expenses |
14,922 |
| Grants advertising and promotion |
17,862 |
| Conference costs |
14,917 |
| Trustees’ fees |
124,345 |
| Reporting and compliance expenses |
45,160 |
| Depreciation |
71,004 |
| Total expenditure |
1,672,968 |
|
1998 |
|
$ |
| Salaries and staff costs |
273,894 |
| Fund manager fees |
374,596 |
| Professional fees |
103,167 |
| Occupancy costs |
17,658 |
| Communications |
14,621 |
| Office expenses |
12,967 |
| Audit fees |
5,400 |
| General expenses |
36,293 |
| Vehicle expenses |
14,054 |
| Grants advertising and promotion |
13,260 |
| Conference costs |
0 |
| Trustees’ fees |
94,080 |
| Reporting and compliance expenses |
45,348 |
| Depreciation |
43,285 |
| Total expenditure |
1,048,623 |
|
Note |
| Net surplus before taxation |
9,705,927 |
| Taxation |
0 |
| Net surplus after taxation |
9,705,927 |
| Share of income of Invest South Limited |
4 16,202 |
| Net surplus for the year |
$9,722,129 |
|
1998 |
|
$ |
| Net surplus before taxation |
14,320,281 |
| Taxation |
0 |
| Net surplus after taxation |
14,320,281 |
| Share of income of Invest South Limited |
-20,080 |
| Net surplus for the year |
$14,300,201 |
Consolidated Statement of Movements in Trust Funds for the Year Ended 31 March 1999
| Note |
1999 |
|
$ |
| Trust capital—beginning of year |
181,317,045 |
| Add this year’s surplus |
9,722,129 |
| Less— |
| Grants approved |
9,570,828 |
| Trust capital—end of year |
$181,468,346 |
|
1998 |
|
$ |
| Trust capital—beginning of year |
177,047,078 |
| Add this year’s surplus |
14,300,201 |
| Less— |
| Grants approved |
10,030,234 |
| Trust capital—end of year |
$181,317,045 |
Consolidated Statement of Financial Position as at 31 March 1999
| Note |
1999 |
|
$ |
| Funds employed: |
| Initial trust capital |
158,460,000 |
| Capital maintenance reserve |
4,402,377 |
| Grants maintenance reserve |
18,605,969 |
| Total capital and reserves |
181,468,346 |
|
1998 |
|
$ |
| Initial trust capital |
181,317,045 |
| Capital maintenance reserve |
0 |
| Grants maintenance reserve |
0 |
| Total capital and reserves |
181,317,045 |
| Liabilities: |
| Accounts payable | 448,887
| Grants committed but not paid | 8,871,349
| Total liabilities | 9,320,236
|
1998 |
|
$ |
| Accounts payable |
197,763 |
| Grants committed but not paid |
8,561,572 |
| Total liabilities |
8,759,335 |
| Total capital and liabilities | $190,788,582
|
1998 |
|
$ |
| Total capital and liabilities |
$190,076,380 |
| Assets:
| Current assets:
| WestpacTrust cheque account | 10,224
| Accounts receivable and interest accrued | 60,279
| Total current assets | 70,503
|
1998 |
|
$ |
| WestpacTrust cheque account |
281,919 |
| Accounts receivable and interest accrued |
257,926 |
| Total current assets |
539,845 |
| Fixed assets | 1,180,131
|
1998 |
|
$ |
| Fixed assets |
1,112,077 |
| Investment assets:
| WestpacTrust call account | 1,111,072
| ASB call account | 335,000
| Trading bank deposits | 19,500,000
| TeNZ fund 10 million units | 9,900,000
| Managed funds—
| ANZ funds management | 44,234,658
| Armstrong Jones | 44,801,626
| Bankers Trust | 24,597,746
| Morgan Stanley | 43,396,184
| Loans | 415,540
|
1998 |
|
$ |
| WestpacTrust call account |
2,271,997 |
| ASB call account |
0 |
| Trading bank deposits |
46,000,000 |
| TeNZ fund 10 million units |
11,600,000 |
| Managed funds— |
| ANZ funds management |
42,337,526 |
| Armstrong Jones |
42,857,206 |
| Bankers Trust |
42,127,809 |
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NZ Gazette 1999, No 150
