New Zealand Gazette – 2001 – No. 84

Page 2190

✨ Financial Statements



NEW ZEALAND GAZETTE

No. 84

2190

5. Donations

For this year:
Committed and disbursed 13,434 8,156
Committed but not yet disbursed 25,523 21,691
Total donations approved 38,957 29,847
Donations written back (1,804) (124)

Committed but not yet disbursed:
37,153 29,723
Committed in previous years 7,575 2,820
Committed this year 25,367 21,671
32,942 24,491

6. Trust Capital
Balance as at 1 April 251,786 251,786
Balance as at 31 March 251,786 251,786

7. Fixed Assets

2001 2000
Cost Accumulated Depreciation Book Value Cost
Land and buildings 2,079 175 1,904 2,079
Vehicle, office equipment and furniture 723 505 218 643
2,802 680 2,122 2,722

8. Other Expenditure

2001 ($000) 2000 ($000)
Audit fees 20 24
Depreciation 40 42
Loss on disposal of fixed asset 0 3
Legal fees 23 6
Occupancy costs 34 33
Other operating costs 61 43
Public and statutory reporting 78 86
Staff expenses 390 324
Trustees’ fees 102 93
Trustees’ expenses 26 22
774 676

9. Statement of Cash Flows

The depreciation charged to the cash flow statement includes a sum of $26,497 (2000 $28,153) on charged to the ASB Bank Community Trust as facilities rental.

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.

2001 ($000) 2000 ($000)
Foreign currency denominated assets 355,068 329,132
Less foreign currency contracts 248,052 215,668
Unhedged exposure 107,016 113,464

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.

Credit Risk

The trust, in the normal course of business, enters into arrangements with other parties. These arrangements give rise to credit risk for the trust and hence policies and procedures are maintained so that this risk is minimised. No collateral is required in respect of financial assets.

For all classes of financial assets held by the trust, the maximum credit risk exposure to the trust is the carrying value as disclosed in the financial statements at balance date.

Due to the diversification of the investment portfolio and the policies and procedures in place, there is no significant concentrations of credit risk.



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Online Sources for this page:

VUW Te Waharoa — PDF NZ Gazette 2001, No 84


Gazette.govt.nz — PDF NZ Gazette 2001, No 84




✨ LLM interpretation of page content

💰 Notes to the Financial Statements for the Year Ended 31 March 2001 (continued from previous page)

💰 Finance & Revenue
Donations, Trust capital, Fixed assets, Expenditure, Cash flows, Financial instruments, Currency risk, Interest rate risk, Credit risk