✨ Financial Statements
28 JUNE NEW ZEALAND GAZETTE 1569
Non-current assets—
Investments 9 212,554 225,859
Fixed assets 10 1,566 1,285
214,120 227,144
Total assets 215,232 (227,749)
J. A. GRACE, Trustee
R. A. WIBERG, Trustee.
Dated this 8th day of June 2001.
The Waikato Community Trust Incorporated Consolidated Statement of Cash Flows for the Year Ended 31 March 2001
| Notes | 2001 $’000 | 2000 $’000 | |
|---|---|---|---|
| Cash flow from operating activities— | |||
| Cash was provided from: | |||
| Investment income received | 17,773 | 13,030 | |
| 17,773 | 13,030 | ||
| Cash was disbursed to: | |||
| Payments to suppliers and employees | (1,871) | (1,907) | |
| Donations paid from income | (13,141) | (6,192) | |
| Tax paid | (39) | – | |
| Net cash flow from operating activities | 13 | 2,722 | 4,931 |
| Cash flow from investing activities— | | | |
| Cash was applied to: | | | |
| Net increase in investments | | (497) | (2,876)|
| Purchase of fixed assets | | (362) | (454) |
| Net cash flow from investing activities | | (859) | (3,330)|
| Cash flow from financing activities— | | | |
| Cash was applied to: | | | |
| Donations paid from donation reserve | | (2,015)| (1,532)|
| Net cash flow from financing activities | | (2,015)| (1,532)|
| Net increase (decrease) in cash held | | (152) | 69 |
| Cash at beginning of the year | | 99 | 30 |
| Ending cash carried forward | | (53) | 99 |
The Waikato Community Trust Incorporated Notes to and Forming Part of the Consolidated Financial Statements for the Year Ended 31 March 2001
- Statement of Accounting Policies
Basis of Reporting
The financial statements presented here are for the reporting entity The Waikato Community Trust Incorporated and its wholly-owned subsidiary Trust Waikato Charities Limited, Trust Waikato Amateur Sport Limited and Trust Waikato District Improvements Limited.
The financial statements have been prepared in accordance with the requirements of the Institute of Chartered Accountants of New Zealand for the measurement and reporting of profit on an historical cost basis with the exception of investments which are recorded at market value.
Specific Accounting Policies
The following specific accounting policies which materially affect the measurement of financial performance and the financial position have been applied:
(a) Trust Funds
In order to prudently manage the financial affairs of the trust, the trustees have adopted the following policies for accounting for the trust’s capital and retained earnings.
Capital
Following the sale of the trust’s shares in Trust Bank New Zealand Limited in April 1996, the trustees agreed that the value of the trust at that time should be maintained for the benefit of current and future generations living in the Waikato region. For this purpose, the trustees agreed that $169,800,000 would be considered as the “initial capital” of the trust. The “initial capital value” is increased each year to show the “base capital value” which reflects growth due to inflation and regional growth. An amount was transferred from retained earnings in 1997 to increase the capital of the trust from its original amount of $21,316,622 to the “initial capital value” and to provide for growth during the 1997 year. Each year an appropriate amount is transferred from income to allow for growth due to inflation and regional population growth.
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Online Sources for this page:
VUW Te Waharoa —
NZ Gazette 2001, No 66
Gazette.govt.nz —
NZ Gazette 2001, No 66
✨ LLM interpretation of page content
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The Waikato Community Trust Incorporated Consolidated Statement of Cash Flows for the Year Ended 31 March 2001
(continued from previous page)
💰 Finance & Revenue8 June 2001
Cash Flows, Investments, Donations, Tax, Waikato Community Trust
- J. A. Grace, Trustee
- R. A. Wiberg, Trustee
💰 Notes to and Forming Part of the Consolidated Financial Statements for the Year Ended 31 March 2001
💰 Finance & RevenueAccounting Policies, Trust Funds, Capital, Retained Earnings, Waikato Community Trust