New Zealand Gazette – 2004 – No. 104

Page 2590

✨ Financial Statements



2590 NEW ZEALAND GAZETTE, No. 104 26 AUGUST 2004

Opening balance 2004 2003
$000 $000
131,467 131,467
Closing balance 131,467 131,467

Capital maintenance reserve:
Opening balance 23,423 19,613
Transfers from uncommitted surplus 2,490 3,810
Closing balance 25,913 23,423

The capital maintenance reserve represents the additional amount necessary to preserve the real value of the capital allowing for inflation as measured by the Consumers’ Price Index (CPI).

Uncommitted surplus:
Opening balance (4,534) 17,201
Donations – paid from capital (4,377) (5,538)
– increase in unpaid approved donations (720) (5,380)
Trustee surplus/(deficit) 20,757 (7,007)
Transfer to capital maintenance reserve (2,490) (3,810)
Closing balance 8,636 (4,534)
Total closing trust funds 166,016 150,356

  1. Donations

                         2004        2003
                     $000        $000

    Paid from capital 4,377 5,538
    Increase in unpaid approved donations 865 5,380
    Donations withdrawn (145) –
    5,097 10,918

During the year ended 31 March 2003, the trust changed its policy to include donations approved but unpaid as a current liability in the statement of financial position. Previously, they were recognised as a contingent liability in the notes to financial statements.

  1. Managed Funds

                         2004        2003
                     $000        $000

    Managed by external managers:
    Opening balance 154,031 165,880
    Gross income 21,850 (5,908)
    Fund managers’ fees – deducted (376) (374)
    Withdrawals (6,000) (5,567)
    Closing balance 169,505 154,031

Investments comprise:
Cash and deposits 17,010 17,091
Bonds 101,531 92,473
Equities 50,964 44,467
Total managed funds 169,505 154,031

Allocated as follows—
New Zealand:
Bonds and deposits 68,693 61,750
Equities 9,163 8,284
77,856 70,034

Overseas:
Bonds and deposits 49,848 47,815
Equities 41,801 36,182
91,649 83,997

Total:
Bonds and deposits 118,541 109,564
Equities 50,964 44,467
169,505 154,031



Next Page →



Online Sources for this page:

VUW Te Waharoa — PDF NZ Gazette 2004, No 104


Gazette.govt.nz — PDF NZ Gazette 2004, No 104




✨ LLM interpretation of page content

🏢 Community Trust of Otago Financial Statements 2004 (continued from previous page)

🏢 State Enterprises & Insurance
28 June 2004
Financial Statements, Trust Funds, Cashflows, Dunedin