New Zealand Gazette – 1999 – No. 90

Page 2164

✨ Financial Statements



2164
NEW ZEALAND GAZETTE
No. 90

4. Donations

For this year—
Committed and disbursed ... 13,902 ... 9,791
Committed but not yet disbursed ... 12,681 ... 10,388
Total donations approved ... 26,583 ... 20,179
Donations written back ... (665) ... (303)
... $25,918 ... $19,876

Committed but not yet disbursed—
Committed in previous years ... 3,580 ... 2,182
Committed this year ... 12,396 ... 10,334
... $15,976 ... $12,516

5. Trust Capital

Balance as at 1 April ... 251,786 ... 251,786
Balance as at 31 March ... $251,786 ... $251,786

6. Fixed Assets

1999 1998
$000 $000
Accumulated Book Accumulated
Cost Depreciation Value Cost Depreciation
Land and buildings ... 2,079 133 1,946 2,079 112
Vehicle, office equipment and furniture ... 657 452 205 644 390
$2,736 $585 $2,151 $2,723 $502

7. Other Expenditure

1999 1998
$000 $000
Audit fees ... 23 27
Depreciation ... 50 51
Loss on disposal of fixed assets ... 0 1
Legal fees ... 9 4
Occupancy costs ... 37 57
Other operating costs ... 98 67
Public and statutory reporting ... 87 78
Staff expenses ... 299 300
Trustees' fees ... 91 84
Trustees' expenses ... 22 17
$716 $686

8. Statement of Cash Flows
The depreciation charged to the cash flow statement includes a sum of $33,353 (1998 $34,068) on charged to the ASB Bank Community Trust as facilities rental.

9. Commitments
Investments
Net investment transactions receivable by the fund managers but unsettled prior to year end total $28,960,599 (1998 ($2,535,554)).

10. Financial Instruments
Currency Risk
The trust invests in securities that are denominated in foreign currencies and therefore result in a currency risk. In order to minimise the currency risk, foreign currency assets are hedged.

1999 1998
$000 $000
Foreign currency denominated assets ... 252,020 246,931
Less foreign currency contracts ... 178,393 172,236
$73,627 $74,695

Interest Rate Risk
The trust, through its fund managers, invests in securities that are subject to interest rate risk. The trust actively monitors this risk and changes asset allocations and maturity profiles accordingly.



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✨ LLM interpretation of page content

💰 ASB Bank Community Trust Financial Statements (continued from previous page)

💰 Finance & Revenue
31 May 1999
Financial Statements, Income, Expenditure, Trust Funds, Balance Sheet, Cash Flows, Foreign Currencies, Investments, Financial Instruments, Reserves, Taxation, Accounting Policies