New Zealand Gazette – 2001 – No. 119

Page 3128

✨ Financial Statements and Investments



3128

NEW ZEALAND GAZETTE

No. 119

  1. Fixed Assets
Land Cost $ Accum depn $ 2001 value $ 2000 value $
Buildings 457,419 – 457,419 457,419
Office equipment 523,063 63,680 459,383 481,242
Furniture and fittings 120,533 87,044 33,489 36,618
Motor vehicles 145,233 57,125 88,108 106,214
Totals 1,356,914 245,583 1,111,331 1,117,374
  1. Investments Managed by Fund Managers

The group has funds invested with institutional investment managers (fund managers), AMP Asset Management, Armstrong Jones (NZ) Ltd, State Street Global Advisors and Invest South Limited. Market values and asset allocations of these investments as at balance date were as follows:

AMP (NZ$m) Armstrong Jones (NZ$m) State Street Global Advisors (NZ$m) Invest South Ltd (NZ$m) Total 2001 value (NZ$m) Total 2000 value (NZ$m)
NZ equities 8.41 2.50 10.91 13.10
Overseas equities 52.21 52.21 57.95
NZ fixed interest 27.36 27.36 55.81
Overseas fixed interest 30.53 30.53 –
Cash 25.72 39.56 65.28 58.75
Totals 83.61 47.97 52.21 2.50 186.29 185.61

Exposure to currency, interest rate and credit risk arises in the normal course of the fund managers’ management of the group’s investments. A range of hedging policies are in place whereby the fund managers use derivative financial instruments as a means of managing exposure to fluctuations in foreign exchange rates and interest rates. While these financial instruments are subject to the risk of market rates changing subsequent to acquisition, such changes would generally be offset by opposite effects on the items being hedged.

  1. Loans

Loan balances outstanding as at 31 March were as follows:

2001 $ 2000 $
Troopers Memorial Corner Charitable Trust 195,000 –
Topoclimate South Trust 428,525 693,333
Southland Museum and Art Gallery 48,492 62,199
Ringa Ringa Heights Golf Club 39,000 –
Otatara Community Church 2,490 –
Totals 713,508 755,532

Each loan is repayable upon demand. All loans are interest free, with the exception of the loan to Topoclimate South Trust, which attracts interest at the 90 Day Bank Bill rate, plus a margin of 2%.

  1. Reconciliation with Operating Surplus
Net surplus before distribution 2001 $ 2000 $
Less grants (8,918,418) (9,630,707)
(5,185,745) 3,899,829
Add/(less) movement in working capital:
Increase/(decrease) in liabilities (2,185,970) 851,429
(Increase)/decrease in accounts receivable (37,101) 40,507
(2,223,071) 891,936
Add/(less) movement in items classified as investing/financing:
Asset purchases (11,250) 20,886
(11,250) 20,886
Add/(less) movement in non-cash items:
Revaluation of investments 32,543 (56,654)
Depreciation 78,727 84,316
111,270 27,662
Net cash provided by operating activities (7,308,796) 4,840,313


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Online Sources for this page:

VUW Te Waharoa — PDF NZ Gazette 2001, No 119


Gazette.govt.nz — PDF NZ Gazette 2001, No 119




✨ LLM interpretation of page content

💰 Fixed Assets Valuation

💰 Finance & Revenue
Fixed Assets, Valuation, Land, Buildings, Office Equipment, Furniture, Motor Vehicles

💰 Investments Managed by Fund Managers

💰 Finance & Revenue
Investments, Fund Managers, AMP Asset Management, Armstrong Jones, State Street Global Advisors, Invest South Limited, NZ Equities, Overseas Equities, Fixed Interest, Cash

💰 Loan Balances Outstanding

💰 Finance & Revenue
Loans, Troopers Memorial Corner Charitable Trust, Topoclimate South Trust, Southland Museum and Art Gallery, Ringa Ringa Heights Golf Club, Otatara Community Church

💰 Reconciliation with Operating Surplus

💰 Finance & Revenue
Operating Surplus, Grants, Working Capital, Investing, Financing, Non-Cash Items, Depreciation