New Zealand Gazette – 2005 – No. 175

Page 4421

✨ Financial Statements



13 OCTOBER 2005

NEW ZEALAND GAZETTE, No. 175

4421

Notes to the Financial Statements for the Year Ended 31 March 2005

1. Investment Income

Note 2005 2004
$ $
Dividends and distributions 4,895,478 13,138,165
Interest 2,726,959 2,730,525
Change in value of investments 6,637,291 5,856,444
Total 14,259,728 21,725,134

2. Reserves

(a) Capital Maintenance Reserve

2005 2004
$ $
Opening balance of capital maintenance reserve 3,095,438 7,103,390
Transfer from statement of financial performance 4,914,318 2,866,327
Transfer to capital reserve (6,725,092) (6,874,269)
Closing balance 1,284,664 3,095,438

(b) Grants Maintenance Reserve

2005 2004
$ $
Opening balance of grants maintenance reserve 942,316 (16,111,546)
Transfer from statement of financial performance 7,117,016 17,053,862
Total reserves 8,059,332 942,316
9,343,996 4,037,754

3. Trust Capital

2005 2004
$ $
Opening balance of trust capital 158,460,000 158,460,000
Transfer from capital maintenance reserve 6,725,092 6,874,279
Less grants paid from capital (6,725,092) (6,874,279)
Closing balance 158,460,000 158,460,000

4. Professional Fees

2005 2004
$ $
Financial/taxation advisory 151,193 135,368
Legal 7,069 17,247
Schools' review mediation 43,243 –
Strategic 31,708 –
Other 18,878 14,298
Total 252,091 166,913

5. Auditor's Remuneration

During the year, the following amounts were paid to auditors:

2005 2004
$ $
To Ward Wilson, the group's auditors, for annual audit work 10,688 11,644
To Ward Wilson, the group's auditors, for other services 3,600 4,927
To other auditors, for grants' audits – 3,181
Total 14,288 19,752

6. Trustees' Fees

Meeting fees and honorariums were paid to trustees as follows:

Trustee Meetings Attended Fees 2005 Fees 2004
T. W. Harpur 52 34,122 44,265
C. S. Ballantyne (retired June 2003) 0 – 2,192
A. R. Macdonald (retired June 2003) 0 – 974
F. G. Cardno 34 17,755 16,985
S. G. Palmer 43 20,800 19,450
J. D. Frampton (retired June 2003) 0 – 1,181
A. A. Broad 44 27,196 18,825


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Online Sources for this page:

VUW Te Waharoa — PDF NZ Gazette 2005, No 175


Gazette.govt.nz — PDF NZ Gazette 2005, No 175




✨ LLM interpretation of page content

💰 The Community Trust of Southland Financial Statements (continued from previous page)

💰 Finance & Revenue
Financial Performance, Trust Funds, Financial Position, Income, Expenditure, Grants
7 names identified
  • T. W. Harpur, Trustee
  • C. S. Ballantyne, Trustee (retired)
  • A. R. Macdonald, Trustee (retired)
  • F. G. Cardno, Trustee
  • S. G. Palmer, Trustee
  • J. D. Frampton, Trustee (retired)
  • A. A. Broad, Trustee