✨ Community Trust Financial Statements
8 JULY 2004 NEW ZEALAND GAZETTE, No. 85 2143
The Community Trust
Community Trusts Act 1999
The Community Trust Consolidated Financial Statements for the Year Ended 31 March 2004
Trust Directory for the Year Ended 31 March 2004
Trust Particulars: The Community Trust was incorporated as a charitable trust in accordance with the provisions of the trustee provisions of the Community Trusts Act 1999. The purpose of The Community Trust is to provide charitable, cultural, philanthropic and recreational benefits to the community.
Date of Trust Deed: 30 May 1988.
Settlor: Minister of Finance.
Trustees: R. J. Todd (Chair), D. C. Close, B. C. Dent, L. H. Jeffs, F. M. Jessep, P. B. Lowe-Johnson, M. E. O’Connor, A. H. Reriti-Crofts, E. M. Richards, P. J. Richardson, P. J. Sigglekow, P. R. Taylor.
Trust Manager: W. P. Ward.
Accountants: Hadlee Kippenberger & Partners, P.O. Box 577, Christchurch (M. J. Hadlee).
Taxation Consultant: KPMG, P.O. Box 274, Christchurch (O. M. Wallis).
Auditors: PricewaterhouseCoopers, P.O. Box 13-244, Christchurch (R. Harris).
Custodial Trustee: Trustees Executive.
Fund Investment Advisor: Forsyth Barr Funds Management (S. Loomans).
Bankers: Westpac.
Solicitors: Chapman Tripp Sheffield Young, P.O. Box 2510, Christchurch (J. L. Holland).
Trustees’ Report for the Year Ended 31 March 2004
Objectives of the Trust and Charitable Company Subsidiary
To provide charitable, cultural, philanthropic and recreational benefits to the communities of Canterbury, Marlborough, Nelson and the Chatham Islands.
Policies and Structure of the Trust and Charitable Company Subsidiary
These organisations are structured to include community representatives from the four regions. Their policies are to manage and distribute their income and capital to the community they serve.
Activities of the Trust
During the period under review, the trust and its charitable subsidiary have provided financial assistance to a wide range of community groups in Canterbury, Marlborough, Nelson and the Chatham Islands. In addition to responding to applications for assistance, these organisations have initiated several new projects of benefit to community groups.
Trustees’ Remuneration
During the period, the trustees of the trust received fees of $131,583 (2003 $145,100).
Review of Results and Financial Position
The total distribution from the trust and charitable company was $11.483 million (2003 – $11.476 million) donations to community groups during the last 12 months.
Signed on behalf of the Board of Trustees:
Chairperson: R. J. TODD.
Trustee: D. C. CLOSE.
Date: 28 June 2004.
Consolidated Statement of Financial Performance for the Year Ended 31 March 2004
| Note | 2004 | 2003 |
|---|---|---|
| Revenue | 45,744,598 | 7,148,864 |
| Less investment fees | 2 | 1,175,455 |
| Less expenses | 2 | 1,180,206 |
| Net surplus before taxation | 43,388,937 | |
| Less retentions: | ||
| Transfer to capital base reserve | 4 | 5,979,954 |
| Available for distribution | 37,408,983 | |
| Donations to tax approved entities | 3 | 9,350,307 |
| Net surplus transferred to trust funds | 28,058,676 |
Consolidated Statement of Movements in Trust Funds for the Year Ended 31 March 2004
| Note | 2004 | 2003 |
|---|---|---|
| Total trust funds at beginning of year | 421,419,006 | 427,897,483 |
| Less donations paid from capital | 3 | (2,132,967) |
| 419,286,039 |
Next Page →
Online Sources for this page:
VUW Te Waharoa —
NZ Gazette 2004, No 85
Gazette.govt.nz —
NZ Gazette 2004, No 85
✨ LLM interpretation of page content
💰
The Community Trust Consolidated Financial Statements for the Year Ended 31 March 2004
(continued from previous page)
💰 Finance & Revenue28 June 2004
Financial Performance, Community Trusts, Income, Expenditure, Equity
- R. J. Todd, Chairperson of the Board of Trustees
- D. C. Close, Trustee
- R. J. Todd, Chairperson
- D. C. Close, Trustee