✨ Financial Statements
NEW ZEALAND GAZETTE
No. 86
Equity
Trustee funds
148,950,226 138,395,779
Total trust funds
148,950,226 138,395,779
GRAEME GLASS
Chairperson
9th June 2000
BRIAN BOURKE
Trustee
9th June 2000
Consolidated Statement of Cash Flows for the Year Ended 31 March 2000
| 2000 $ | 1999 $ | |
|---|---|---|
| Cash flows from operating activities— | ||
| Cash was provided from: | ||
| Interest and dividends on investments | 4,605,135 | 6,271,965 |
| 4,605,135 | 6,271,965 |
Cash was applied to:
| Community payments | (6,765,414) | (4,986,355) |
| Trustees and employees | (337,992) | (288,146) |
| Suppliers of other goods and services | (383,326) | (437,628) |
| Net operating cash flows | (2,881,597) | 559,836 |
(note 7)
| Cash flows from investing activities— | | |
| Cash was provided from: | | |
| Sale of government securities | 350,000 | 856,806 |
| Withdrawals from managed funds | 3,938,770 | 6,000,000 |
| | 4,288,770 | 6,856,806 |
Cash was applied to:
| Investment in government securities | — | (8,116,586) |
| Investment in managed funds | — | — |
| Investment in shares | — | — |
| Purchase of fixed assets | (18,192) | (7,959) |
| Net investing cash flows | 4,270,578 | (1,267,739) |
| Net increase (decrease) in cash held | 1,388,981 | (707,903) |
| Add cash at 1 April | 7,841,500 | 8,549,403 |
| Cash at 31 March | 9,230,481 | 7,841,500 |
(note 5)
Notes to the Consolidated Financial Statements for the Year Ended 31 March 2000
1. Statement of accounting policies
1.1 Reporting entity
Eastern and Central Community Trust is a charitable trust incorporated in accordance with the provisions of the Trustee Banks Restructuring Act 1988.
The trust has a wholly owned company — Eastern & Central Community Trust Charities Limited — which is registered under the Companies Act 1993.
The consolidated financial statements have been prepared in accordance with generally accepted accounting practice.
1.2 Measurement base
The measurement base applied is that of historical cost adjusted for the market valuation of investments.
1.3 Specific accounting policies
The following are the particular accounting policies, which have a material effect on the measurement of results and financial position.
1.3.1 Basis of consolidation
The consolidated financial statements include the trust and its wholly owned company accounted for using the purchase method. All significant inter-entity transactions are eliminated on consolidation. Both entities have a common balance date of 31 March.
1.3.2 Investment income is accounted for on an accruals basis recognising both realised and unrealised gains or losses in value.
1.3.3 Foreign currency balances are converted to NZD at the year end rate of exchange unless covered by a forward exchange contract. Where such contracts are in place the contracted rate is adopted. Transactions completed during the year are converted at the rate applying at the approximate date of the transaction. Foreign exchange gains and losses are included within the Statement of Financial Performance.
1.3.4 Investments are recorded at market value at year-end.
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Online Sources for this page:
VUW Te Waharoa —
NZ Gazette 2000, No 86
Gazette.govt.nz —
NZ Gazette 2000, No 86
✨ LLM interpretation of page content
💰 Eastern and Central Community Trust Financial Performance
💰 Finance & RevenueFinancial statements, Income, Expenditure, Community payments, Equity
- Graeme Glass, Chairperson
- Brian Bourke, Trustee