2596 NEW ZEALAND GAZETTE, No. 104 26 AUGUST 2004

John Sturgeon 4 4 2,350
Peter Kerridge 4 4 3,240
Tony Sullivan 4 4 2,350
Maurice Roberts 4 4 2,350
Eunice Brown 3 3 925
Rowan Sullivan 3 3 925
Brenda Monk (retired May 2003) 1 1 1,425

Total remuneration paid in the financial year ended 31 March 2004 – $23,595.

Rates of remuneration, including honorarium and meeting fees, are set by the Minister of Finance. The group has also insured all trustees against liability to other parties that may arise from their position as trustees, excluding liability for gross negligence or criminal actions.

A register of interest is held at the office of the trust and is available for public inspection.

The trustees have adopted a code of conduct. There were no breaches of this code during the financial year ended 31 March 2004.

Audit Report

To the Readers of the Financial Statements of West Coast Community Trust

We have audited the consolidated financial report. The financial report provides information about the past financial performance and financial position of the West Coast Community Trust and group as at 31 March 2004. This information is stated in accordance with the accounting policies set out in the financial report.

Trustees' Responsibilities

The trustees are responsible for the preparation of a financial report which gives a true and fair view of the financial position of the West Coast Community Trust and group as at 31 March 2004 and of the results of operations for the year ended on that date.

Auditors' Responsibilities

It is our responsibility to express an independent opinion on the financial report presented by the trustees and report our opinion to you.

Basis of Opinion

An audit includes examining, on a test basis, evidence relevant to the amounts and disclosures in the financial report. It also includes assessing:

• the significant estimates and judgements made by the trustees in the preparation of the financial report; and
• whether the accounting policies are appropriate to the West Coast Community Trust and group circumstances, consistently applied and adequately disclosed.

We conducted our audit in accordance with New Zealand auditing standards. We planned and performed our audit so as to obtain all the information and explanations which we considered necessary in order to provide us with sufficient evidence to obtain reasonable assurance that the financial report is free from material misstatements, whether caused by fraud or error. In forming our opinion, we also evaluated the overall adequacy of the presentation of information in the financial report.

The offices of Wilding Smith & Co act as the registered office of West Coast Community Trust Charitable Company Limited, a wholly-owned subsidiary of the trust.

Our firm provides administrative services to the company in relation to this function. The firm has no other interests in the West Coast Community Trust or its subsidiary.

Unqualified Opinion

We have obtained all the information and explanations we have required.

In our opinion:

• proper accounting records have been kept by the West Coast Community Trust as far as appears from our examination of those records; and
• the financial report:
  • complies with generally accepted accounting practice; and
  • gives a true and fair view of the financial position of the West Coast Community Trust and group as at 31 March 2004 and the results of operations and cash flows for the year ended on that date.\n
    Our audit was completed on 16 July 2004 and our unqualified opinion is expressed as at that date.

WILDING SMITH & CO, Chartered Accountants, Hokitika.

(The West Coast Community Trust gives notice that the Minister of Finance has directed that they need not publish the full list of grants in the New Zealand Gazette but will provide a copy of its list of grants to anyone upon request from: The Secretary, West Coast Community Trust, P.O. Box 190, Hokitika.)