New Zealand Gazette – 2004 – No. 101

Page 2513

✨ Financial Statements



19 AUGUST 2004

NEW ZEALAND GAZETTE, No. 101

2513

  1. Donations
    For this year:
    Committed and disbursed
    Committed but not yet disbursed
    Total donations approved
    Donations written back

    Committed but not yet disbursed:
    Committed in previous years
    Committed this year

  2. Fixed Assets
    Cost
    Land and buildings
    Vehicle, office equipment and furniture

    2004
    Accumulated Depreciation
    Book Value

    2003
    Accumulated Depreciation
    Book Value

  3. Other Expenditure
    Audit fees
    Depreciation – land and buildings
    Depreciation – vehicle
    Depreciation – office equipment and furniture
    Legal fees
    Occupancy costs
    Other operating costs
    Public and statutory reporting
    Staff expenses
    Trustees’ fees
    Trustees’ expenses

  4. Statement of Cash Flows
    The depreciation charged to the cash flow statement includes a sum of $37,635 (2003 – $48,182) on charged to the ASB Bank Community Trust as facilities rental.

  5. 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.

    2004 2003
    $000 $000
    Foreign currency denominated assets 292,088 267,476
    Less foreign currency contracts 195,404 195,262
    Unhedged exposure 96,684 72,214

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 2004, No 101


Gazette.govt.nz — PDF NZ Gazette 2004, No 101




✨ LLM interpretation of page content

💰 ASB Bank Community Trust Financial Statements (continued from previous page)

💰 Finance & Revenue
31 May 2004
Community Trusts Act 1999, Income and Expenditure, Trust Funds, ASB Bank Community Trust