New Zealand Gazette – 1999 – No. 163

Page 3914

✨ Trust Financial Statements



NEW ZEALAND GAZETTE

No. 163

The trustees are very conscious of its responsibilities to the community, and they strive to invest capital prudently to generate a financial return for use in the wider community.

The Community House project was successfully launched, and so far 12 community-based organisations are leasing the excellent office accommodation provided, and taking advantage of the central location and other facilities provided in the house.

The trust’s official office is also based in Community House, making it more accessible to the community and enabling a more efficient service to be provided.

The terms of office for trustees, Hon. Jim Sutton, M.P., Mr Peter McLlraith and Mr Eddie Thompson (Chairman), expired on 31 May 1998.

The Minister of Finance advised the trust that Mr McLraith had been re-appointed for a further term of office expiring on 31 May 2002, and that Mr Sutton and Mr Thompson had been replaced by Mrs Carole Brand and Mrs Huriata Weeks.

The trust acknowledges the outstanding contribution made by Hon. Jim Sutton and Mr Eddie Thompson to the affairs of the trust, and welcomes the two new trustees to our team.

With the departure of Mr Thompson, I was appointed chairperson of the trust, with Mr Peter McLraith as deputy chairperson. Mr Ken Churcher, secretary of the trust retired on 31 July 1998, and Mr Bruce Strathern was appointed as the trust’s executive director from 1 August.

The trust is pleased to contribute to the well-being of the district it serves, not only in the provision of tangible assets, but in assisting in the social welfare of the district.

I would like to pay tribute to the large number of individuals in the district, who voluntarily work for the well-being of the charitable organisations they serve.

R. J. UNDERDOWN, Chairperson.

Consolidated Statement of Financial Performance for the Year Ended 31 March 1999

Note 1999 $ 1998 $
Income—
Interest 2,022,865 2,241,326
Dividends 326,579 258,202
Gain on redemption of Government stock 13,045 0
Total income 2,362,489 2,499,528
Less expenditure—
Advertising 9,673 26,076
Auditor’s fees 6,412 1,875
Interest 0 365
Investment administration 35,895 30,508
Legal fees 3,148 4,172
Postage, tolls and fax 3,810 1,769
Printing and stationery 20,640 3,243
Secretarial and accountancy fees 70,920 44,527
Special reports 14,270 5,693
Sundry administration expenses 11,064 5,870
Trustees fees and travel 44,395 34,905
Loss on redemption of Government stock 3,513 29,041
Loss on sale of investments 9,202 0
Total expenditure 232,942 188,044
Net income 2,129,547 2,311,484
Unrealised capital gain on investments 64,864 267,313
Surplus transferred to the trust fund 2,194,411 2,578,797

Consolidated Statement of Movements in Equity for the Year Ended 31 March 1999

1999 $ 1998 $
Opening equity 34,994,644 33,438,962
Net surplus for year 2,194,411 2,578,797
Less donations approved (1,398,371) (1,023,115)
Closing equity $35,790,684 $34,994,644

Consolidated Statement of Financial Position as at 31 March 1999

Note 1999 $ 1998 $
Trust capital—
General fund 3 33,526,105 32,993,718
Donations reserve 4 1,878,064 1,733,613


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✨ LLM interpretation of page content

🏢 Trustees' Report and Appointments

🏢 State Enterprises & Insurance
Trustees, Appointments, Financial Report, Community Trust
7 names identified
  • Jim Sutton (Honourable), Resigned as trustee
  • Peter McLlraith (Mr), Re-appointed as trustee
  • Eddie Thompson (Mr), Resigned as trustee
  • Carole Brand (Mrs), Appointed as trustee
  • Huriata Weeks (Mrs), Appointed as trustee
  • Ken Churcher (Mr), Retired as secretary
  • Bruce Strathern (Mr), Appointed as executive director

  • R. J. Underdown, Chairperson

🏢 Consolidated Financial Statements

🏢 State Enterprises & Insurance
Financial statements, Income, Expenditure, Equity