New Zealand Gazette – 2001 – No. 75

Page 1799

✨ Financial Statements



NEW ZEALAND GAZETTE

19 JULY 1799

Investments comprise—
2001 2000
Bonds 45,066,697 45,140,717
Equities 75,202,852 94,267,709
Total managed funds 120,269,549 139,408,426

Held in:

New Zealand:

2001 2000
Bonds 25,889,620 27,702,438
Equities 10,752,300 20,174,282
36,641,920 47,876,720

Off shore

2001 2000
Bonds 19,177,077 17,438,279
Equities 64,450,552 74,093,427
83,627,629 91,531,706
Total managed funds 120,269,549 139,408,426

4. Fixed Assets

2001 2000
Fixtures, fittings and equipment at cost 128,307 117,157
Less accumulated depreciation 91,476 76,207
36,830 40,950

5. Cash and Bank Deposits

2001 2000
Current accounts 4,162 7,760
Call accounts 2,665,884 1,197,658
Petty cash 36 63
Short term deposits 14,263,000 8,025,000
16,933,082 9,230,481

6. Donations Payable

Included in donations payable are $3,516,918 (2000 – $2,340,800) of donations, which are subject to the applicants fulfilling certain conditions.

7. Reconciliation of Net Surplus With Operating Cash Flows

2001 2000
Net surplus for the period $(17,262,118) $10,554,448
Adjust for non-cash items:
Income on investments 6,016,270 (14,491,710)
Depreciation 15,269 14,762
Movements in net current assets:
Accrued income 71,989 (57,064)
Donations and sundry payables 2,753,982 1,097,967
Net operating cash flows (8,404,608) (2,881,597)

8. Contingent Liabilities and Commitments

Commitments

The trust is committed to $2,971,784 ($7,230,000 – 2000) for the “Shooting Star Community Project” and future funding of $1,000,000 ($560,000 – 2000) for the four sports trusts in the region.

Lease Commitments (including G.S.T.)

2001 2000
Within 1 year 39,375 33,750
1-2 years 39,375 33,750
2-5 years 21,791 52,151
100,541 119,651

A six-year renewal option exists

Contingencies

The trust’s charitable status is currently under review by the Inland Revenue Department. The trustees consider that any amount which may be payable following the review is unlikely to be material.

9. Segmental Reporting

The trust operates as a charitable trust distributing funds to the community in the central North Island region.

10. Financial Instruments

Financial instruments include short-term deposits, New Zealand bonds, international bonds, derivatives and investments in managed funds both within New Zealand and overseas.

10.1 Credit Risk

The trustees regularly review their investment strategy. The investment strategy ensures an appropriate diversification of investments so that the trust has no significant concentration of counterparty or credit risk.



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Online Sources for this page:

VUW Te Waharoa — PDF NZ Gazette 2001, No 75


Gazette.govt.nz — PDF NZ Gazette 2001, No 75




✨ LLM interpretation of page content

💰 Investments in Managed Funds for the Year Ended 31 March 2001 (continued from previous page)

💰 Finance & Revenue
Managed Funds, Bonds, Equities, Financial Statements, Investments