New Zealand Gazette – 1999 – No. 83

Page 1959

✨ Community Trust Financial Statements



15 JULY NEW ZEALAND GAZETTE 1959

suggestions. But we will not be guided by popular sentiment or anything other than rigorous thinking in our desire to get it right.

Our Trustees and Staff

I want to thank fellow trustees for their wise, constructive involvement and for the harmonious way in which the trust operates.

I also want to assert that the trust has high quality staff. Our chief executive, Keith Ellwood, provides quality thinking and leadership, our donations assessor, Carol Melville, remains key to our operations, and Heather Wyatt and Fay Jackson are ever cheerful and efficient.

For myself, I am grateful for the opportunity to be involved.

The trust will continue to do its absolute best to make a positive difference for the people of Otago.

CLIVE MATTEWSON, Chairperson.

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

Note 1999 $000 1998 $000
Revenue 1 17,687 25,493
Expenditure 2 (1,705) (1,268)
Surplus before donations 15,982 24,225
Donations paid from income 4 (6,650) (6,745)
Trustee surplus 9,332 17,480

This surplus has been allocated to:

1999 $000 1998 $000
Capital maintenance reserve 10 3,843 —
Uncommitted surplus 5,489 13,637
9,332 17,480

The notes to these financial statements form part of and should be read in conjunction with this consolidated statement of financial performance.

Consolidated Statement of Movement in Trust Funds for the Year Ended 31 March 1999

Note 1999 $000 1998 $000
Opening trust funds 174,923 157,889
Donations paid from capital 4 (333) (446)
174,590 157,443
Trustee surplus 9,332 17,480
Closing trust funds 183,922 174,923

The notes to these financial statements form part of and should be read in conjunction with this consolidated statement of movement in trust funds.

Consolidated Statement of Financial Position as at 31 March 1999

Source of funds— Note 1999 $000 1998 $000
Trust funds 3 183,922 174,923
Current liabilities—
Creditors 101 101
184,023 175,024

| Employment of funds— | | | |
| Current assets— | | | |
| Current account—Westpac Trust | | 155 | 260 |
| Short-term bank deposits | | 1,296 | 1,838 |
| Debtors | 3 | — | 2,098 |
| | | 1,454 | |
| Non current assets— | | | |
| Managed funds | 5 | 181,101 | 171,499 |
| Fixed assets | 6 | 1,468 | 1,427 |
| | | 182,569 | 172,926 |
| | | 184,023 | 175,024 |

Approved on behalf of the board:



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✨ LLM interpretation of page content

💰 Community Trust of Otago Chairpersons Report 1999 (continued from previous page)

💰 Finance & Revenue
Annual Report, Investment Performance, Donations, Economic Development, Otago
  • Clive Matthewson, Chairperson of the Trust
  • Keith Ellwood, Chief Executive of the Trust
  • Carol Melville, Donations Assessor of the Trust
  • Heather Wyatt, Staff member of the Trust
  • Fay Jackson, Staff member of the Trust

  • Clive Matthewson, Chairperson

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

💰 Finance & Revenue
Financial Performance, Revenue, Expenditure, Surplus, Donations, Otago

💰 Consolidated Statement of Movement in Trust Funds for the Year Ended 31 March 1999

💰 Finance & Revenue
Trust Funds, Donations, Surplus, Otago

💰 Consolidated Statement of Financial Position as at 31 March 1999

💰 Finance & Revenue
Financial Position, Trust Funds, Assets, Liabilities, Otago