✨ Financial Statements
1960 NEW ZEALAND GAZETTE No. 83
CLIVE MATTHEWSON, Chairperson.
RICHARD McKNIGHT, Trustee.
Date: 27 May 1999.
The notes to these financial statements form part of and should be read in conjunction with this consolidated statement of financial position.
Consolidated Statement of Cash Flows for the Year Ended 31 March 1999
| 1999 | 1998 | |
|---|---|---|
| $000 | $000 |
Cash flows from operating activities—
Cash was provided from:
Managed funds ... 17,375 24,046
Interest received on investments ... 220 1,597
Other ... 90 57
17,685 25,700
Cash was disbursed on:
Payment to suppliers and staff ... 850 713
Fund management ... 772 528
Donations to voluntary organisations ... 6,983 7,191
Managed funds reinvested ... 9,602 23,456
18,207 31,888
Net cash inflow/(outflow) from operating activities ... (522) (6,188)
Cash flows from investing activities—
Cash was disbursed on:
Purchase of managed funds ... — 41,950
Purchase of fixed assets ... 125 1,454
125 43,404
Net cash from investing activities ... (125) (43,404)
Net increase/(decrease) in cash held ... (647) (49,592)
Add opening cash brought forward ... 2,098 51,690
Ending cash carried forward ... $1,451 $2,098
Ending cash comprises:
Cheque accounts ... 155 260
Term deposits ... 1,296 1,838
$1,451 $2,098
The notes to these financial statements form part of and should be read in conjunction with this consolidated statement of cash flows.
Notes to the Consolidated Financial Statements for the Year Ended 31 March 1999
Basis of Preparation
These are the consolidated financial statements of the Community Trust of Otago, Otago Community Charities Limited, the Community Trust Amateur Sports Co Limited, the Community Trust District Improvement Co Limited and Fillmore House Limited. The Community Trust of Otago was incorporated as a charitable trust in accordance with the provisions of the Trustee Banks Restructuring Act 1988.
The financial statements have been prepared to comply with the Financial Reporting Act 1993 and comprise consolidated statements of the following: financial performance, movement in trust funds, financial position, cash flows, as well as notes to these financial statements.
The financial statements are prepared on the basis of historical cost, except for the revaluation of managed funds.
Specific Accounting Policies
Income
Income from managed funds includes both realised and unrealised income and is recorded gross of fund management expenses.
Interest is recognised on an accrual basis.
Donations
Donations are accounted for as they are distributed.
Foreign Currencies
All amounts denominated in foreign currencies are converted to New Zealand dollars at balance date. All realised and unrealised gains and losses are recognised in the statement of financial performance.
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VUW Te Waharoa —
NZ Gazette 1999, No 83
NZLII —
NZ Gazette 1999, No 83
✨ LLM interpretation of page content
💰
Consolidated Statement of Financial Position as at 31 March 1999
(continued from previous page)
💰 Finance & RevenueFinancial Position, Trust Funds, Assets, Liabilities, Otago
- CLIVE MATTHEWSON, Chairperson
- RICHARD McKNIGHT, Trustee
💰 Consolidated Statement of Cash Flows for the Year Ended 31 March 1999
💰 Finance & RevenueCash Flows, Financial Performance, Trust Funds, Investments, Otago
💰 Notes to the Consolidated Financial Statements for the Year Ended 31 March 1999
💰 Finance & RevenueFinancial Statements, Accounting Policies, Income, Donations, Foreign Currencies