✨ Financial Statements
NEW ZEALAND GAZETTE
No. 85
5. Managed Funds
Managed by external managers:
| 2003 | 2002 | |
|---|---|---|
| $000 | $000 | |
| Opening balance | 165,880 | 178,402 |
| Gross income | (5,908) | (764) |
| Fund managers’ fees – deducted | (374) | (758) |
| Withdrawals to fund donations | (5,567) | (11,000) |
| Closing balance | 154,031 | 165,880 |
Investments comprise:
| 2003 | 2002 | |
|---|---|---|
| $000 | $000 | |
| Cash, deposits and miscellaneous | 17,091 | 15,237 |
| Bonds | 92,473 | 84,422 |
| Equities | 44,467 | 66,221 |
| Total managed funds | 154,031 | 165,880 |
| Held in: New Zealand | 70,034 | 72,316 |
| Offshore | 83,997 | 93,564 |
6. Fixed Assets
| 2003 | 2002 | |
|---|---|---|
| $000 | $000 | |
| Land: | ||
| At cost | 432 | 432 |
| Buildings: | ||
| At cost | 1,026 | 1,026 |
| Accumulated depreciation | 285 | 241 |
| 741 | 785 | |
| Office furniture and equipment | ||
| At cost | 226 | 210 |
| Accumulated depreciation | 172 | 123 |
| 54 | 87 | |
| Total net carrying value | 1,227 | 1,304 |
7. Financial Instruments
(a) The financial instruments are subject to an interest rate risk.
The investment portfolios are treated as lump sum investments. The fund managers or custodians manage both the credit risk and foreign exchange risk.
No comparison is provided between the carrying value and estimated fair value of financial instruments, due to the carrying value reflecting market price.
| New Zealand: | 2003 | 2002 |
|---|---|---|
| $000 | $000 | |
| Bonds and deposits | 61,750 | 62,627 |
| Equities | 8,284 | 9,689 |
| 70,034 | 72,316 |
| Overseas: | 2003 | 2002 |
|---|---|---|
| $000 | $000 | |
| Bonds and deposits | 47,815 | 37,032 |
| Equities | 36,182 | 56,532 |
| 83,997 | 93,564 |
| Total: | 2003 | 2002 |
|---|---|---|
| $000 | $000 | |
| Bonds and deposits | 109,564 | 99,659 |
| Equities | 44,467 | 66,221 |
| 154,031 | 165,880 |
(b) Credit Risk
At balance date, there were no significant concentrations of credit risk. The maximum exposure to credit risk is represented by the carrying value of each financial asset in the statement of financial position.
(c) There are no off balance sheet financial instruments.
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Online Sources for this page:
VUW Te Waharoa —
NZ Gazette 2003, No 85
Gazette.govt.nz —
NZ Gazette 2003, No 85
✨ LLM interpretation of page content
💰 Managed Funds Financial Report
💰 Finance & RevenueManaged Funds, Financial Report, Investments, Cash, Bonds, Equities, New Zealand, Offshore
💰 Fixed Assets Financial Report
💰 Finance & RevenueFixed Assets, Land, Buildings, Office Furniture, Depreciation, Financial Report
💰 Financial Instruments Report
💰 Finance & RevenueFinancial Instruments, Interest Rate Risk, Credit Risk, Bonds, Deposits, Equities, New Zealand, Overseas