✨ Financial Statements
3452 NEW ZEALAND GAZETTE, No. 141 25 AUGUST 2005
4. Managed Funds
Managed by external managers:
| 2005 | |
|---|---|
| $000 | |
| Opening balance | 169,505 |
| Gross income | 11,708 |
| Fund managers’ fees – deducted | (409) |
| Withdrawals | (7,078) |
| Closing balance | 173,726 |
| 2004 | |
|---|---|
| $000 | |
| Opening balance | 154,031 |
| Gross income | 21,850 |
| Fund managers’ fees – deducted | (376) |
| Withdrawals | (6,000) |
| Closing balance | 169,505 |
Investments comprise:
| 2005 | |
|---|---|
| $000 | |
| Cash and deposits | 11,396 |
| Bonds | 110,769 |
| Equities | 51,561 |
| Total managed funds | 173,726 |
| 2004 | |
|---|---|
| $000 | |
| Cash and deposits | 17,010 |
| Bonds | 101,531 |
| Equities | 50,964 |
| Total managed funds | 169,505 |
Allocated as follows—
New Zealand:
| 2005 | |
|---|---|
| $000 | |
| Bonds and deposits | 65,006 |
| Equities | 9,465 |
| Total | 74,471 |
| 2004 | |
|---|---|
| $000 | |
| Bonds and deposits | 68,693 |
| Equities | 9,163 |
| Total | 77,856 |
Overseas:
| 2005 | |
|---|---|
| $000 | |
| Bonds and deposits | 57,159 |
| Equities | 42,096 |
| Total | 99,255 |
| 2004 | |
|---|---|
| $000 | |
| Bonds and deposits | 49,848 |
| Equities | 41,801 |
| Total | 91,649 |
Total:
| 2005 | |
|---|---|
| $000 | |
| Bonds and deposits | 122,165 |
| Equities | 51,561 |
| Total managed funds | 173,726 |
| 2004 | |
|---|---|
| $000 | |
| Bonds and deposits | 118,541 |
| Equities | 50,964 |
| Total managed funds | 169,505 |
5. Fixed Assets
| 2005 Book Value | |
|---|---|
| $000 | |
| Land: | |
| At cost | 432 |
| Buildings: | |
| At cost | 1,026 |
| Accumulated depreciation | (361) |
| 665 | |
| Office furniture and equipment: | |
| At cost | 237 |
| Accumulated depreciation | (198) |
| 39 | |
| Total net carrying value | 1,136 |
| Depreciation: |
| Buildings | 37 |
| Office furniture and equipment | 13 |
| | 50 |
| 2004 Book Value | |
|---|---|
| $000 | |
| Land: | |
| At cost | 432 |
| Buildings: | |
| At cost | 1,026 |
| Accumulated depreciation | (324) |
| 702 | |
| Office furniture and equipment: | |
| At cost | 234 |
| Accumulated depreciation | (186) |
| 48 | |
| Total net carrying value | 1,182 |
| Depreciation: |
| Buildings | 43 |
| Office furniture and equipment | 12 |
| | 55 |
6. Financial Instruments
Currency Risk
The trust, through its fund managers, invests in securities that are denominated in foreign currencies and therefore result in a currency risk. The trusts fund managers actively monitor this risk and hedge positions in accordance with their investment guidelines.
Interest Rate Risk
The trust, through its fund managers, invests in securities that are subject to interest rate risk. The trusts fund managers monitor this risk and change asset allocations and maturity profiles in accordance with their investment guidelines.
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 the risk is minimised. No collateral is required in respect of financial assets.
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Online Sources for this page:
VUW Te Waharoa —
NZ Gazette 2005, No 141
Gazette.govt.nz —
NZ Gazette 2005, No 141
✨ LLM interpretation of page content
💰
Community Trust of Otago Financial Statements
(continued from previous page)
💰 Finance & Revenue27 June 2005
Financial Statements, Revenue, Expenditure, Trust Funds, Capital Maintenance Reserve, Uncommitted Surplus, Donations, Trustee Fees, Professional Fees, Audit Fees, Accounting, Legal Advisers, Tax Advice, Investment Advisers, Managed Funds, Fixed Assets, Financial Instruments, Currency Risk, Interest Rate Risk, Credit Risk