✨ Financial Report of The Waikato Community Trust Incorporated
2506
NEW ZEALAND GAZETTE, No. 105
7 JULY 2005
Impact of changes in working capital items:
Increase (decrease) in accounts payable
(67)
(29)
Increase (decrease) in donations payable
375
(538)
308
(567)
Net cash inflow from operating activities
10,067
10,757
14. Financial Instruments
The trust uses the services of an investment advisor to pursue an investment policy considered appropriate for the trust. The current policy is to achieve a long-term asset allocation of:
New Zealand equities
7.50%
New Zealand fixed interest
25.00%
New Zealand cash
12.50%
Global fixed interest (fully hedged)
27.50%
Global equities (fully hedged)
27.50%
100.00%
The following financial assets have been recognised in the financial statements of the trust.
2005
2004
$’000
$’000
Investments
216,144
206,062
216,144
206,062
These are denominated in the following currencies:
2005
2004
$’000
$’000
Australian dollar equivalents
426
545
Canadian dollar equivalents
2,742
1,515
Danish krona equivalents
197
179
Euro equivalents
28,665
39,997
Great Britain pound equivalents
13,301
5,728
Japanese yen equivalents
11,568
9,276
New Zealand dollars
95,441
94,739
Swedish krona equivalents
727
546
Swiss franc equivalents
1,860
1,755
United States dollar equivalents
59,430
50,130
Other equivalents
1,787
1,652
216,144
206,062
The unrealised gains and losses on forward contracts have been included in other equivalents.
Trust policy is to hedge exposure on fluctuations in foreign exchange on 100% of global fixed interest investments and global equity investments. At 31 March 2005, the trust’s investment managers had forward exchange contracts in accordance with this policy.
The market value of the New Zealand cover is $63,214,031 (nominal value – $64,657,017). The market value of the cover at balance date accounts for 104% of funds held in global equities. At balance date, global fixed interest investments were held by a New Zealand investment manager. No undisclosed credit risk exists.
Credit Risk
Financial instruments which potentially subject the society to credit risk principally consist of bank balances, accounts receivable, and investments.
15. Donations
On 25 September 2004, the Waikato Times published a list totalling $6,990,485 which showed all of the donations approved by the trust from the period 1 April 2004 to 25 September 2004.
In the period from 26 September 2004 to 31 March 2005, the trust has also paid, committed or withdrawn the following donations:
$
Total donations published in the Waikato Times on 25 September 2004
6,990,485
Anglican Action
2,500
Capernwray Bible School
10,000
Chartwell Co-operating Parish
7,000
Enderley Park Community Centre Committee
2,500
Fairfield/Chartwell Community Centre
200
Fraser Tech Rugby Football Club
5,000
Hamilton Multicultural Services Trust
3,000
Hamilton Youth Council
1,000
Hauraki Māori Trust Board
3,000
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Online Sources for this page:
VUW Te Waharoa —
NZ Gazette 2005, No 105
Gazette.govt.nz —
NZ Gazette 2005, No 105
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Financial Position of The Waikato Community Trust Incorporated
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💰 Finance & RevenueFinancial Position, Trust Funds, Liabilities, Assets, Capital, Investment Fluctuation Reserve, Donation Reserve, Fixed Assets, Depreciation, Donations, Goods and Services Tax, Taxation, Currency Translation, Consolidation Method, Cash Flows, Financial Instruments, Investments, Accounting Policies