✨ Financial Statements and Audit Report
NEW ZEALAND GAZETTE, No. 175
13 OCTOBER 2005
| 2005 | 2004 | |
|---|---|---|
| Wakatipu Trails Trust | 300,000 | — |
| Child Health Research Foundation | 200,000 | — |
| South Catlins Environment and Development Trust | 750,000 | — |
| Murihiku Whanau Services | 100,000 | — |
| Tuatapere Hump Ridge Track | 80,000 | 120,000 |
| Venture Southland – Broadband | — | 223,320 |
| Invercargill City Council – Civic Theatre | 600,000 | 3,000,000 |
| Croydon Aviation Museum | 280,000 | 280,000 |
| Queenstown Aquatic Centre | 1,500,000 | — |
| Southland District Health Board | 1,000,000 | — |
| Families First Trust | 80,000 | — |
| Southland Indoor Leisure Centre Charitable Trust | 160,000 | — |
| 5,050,000 | 3,623,320 |
The years in which these commitments fall due are as follows:
| Year ending 31 March | 2005 | 2004 |
|---|---|---|
| Year ending 31 March 2005 | — | 1,543,320 |
| Year ending 31 March 2006 | 1,865,000 | 1,040,000 |
| Year ending 31 March 2007 | 1,435,000 | 1,040,000 |
| Year ending 31 March 2008 | 550,000 | — |
| Year ending 31 March 2009 | 350,000 | — |
| Year ending 31 March 2010 | 400,000 | — |
| Year ending 31 March 2011 | 450,000 | — |
| 5,050,000 | 3,623,320 |
Commitments of up to $4,908,850 exist for loans which trustees have approved, but which had not been drawn down as at balance date. The approved loans are as follows:
| 2005 | 2004 | |
|---|---|---|
| Borland Lodge | 293,850 | 293,850 |
| Wyndham & Districts Community Rest Home | 100,000 | 100,000 |
| Queenstown Childcare Centre | — | 24,000 |
| Troopers Memorial Trust | — | 179,000 |
| South Catlins Environment and Development Trust | 600,000 | — |
| Southland Heritage Building Preservation Trust | — | 50,000 |
| Living Fiordland Charitable Trust | 3,700,000 | — |
| Awarua Social Services | 200,000 | — |
| Parata Anglican Charitable Trust | 15,000 | — |
| 4,908,850 | 646,850 |
A commitment has been made to invest up to $2,000,000 in the AMP Property Opportunity Fund. As at 31 March 2005, $1,319,807 of this committed amount had been paid.
16. Related Party Transactions
There were no related party transactions during the year.
17. Tax Calculation
With effect from 1 April 2004, community trusts, including the Community Trust of Southland, became exempt from income tax pursuant to section CB4 (1) (m) of the Income Tax Act 1994.
Audit Report
To the Trustees of the Community Trust of Southland
We have audited the financial statements. The financial statements provide information about the past financial performance and financial position of the trust and the group as at 31 March 2005. This information is stated in accordance with the accounting policies set out.
Trustees’ Responsibilities
The trustees are responsible for the preparation of financial statements which give a true and fair view of the financial position of the trust and group as at 31 March 2005 and the results of their operations and cash flows for the year ended on that date.
Auditors’ Responsibilities
It is our responsibility to express an independent opinion on the financial statements presented by the trustees and report our opinion to you.
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Online Sources for this page:
VUW Te Waharoa —
NZ Gazette 2005, No 175
Gazette.govt.nz —
NZ Gazette 2005, No 175
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The Community Trust of Southland Financial Statements
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💰 Finance & RevenueFinancial Performance, Trust Funds, Financial Position, Income, Expenditure, Grants, Loans, Reconciliation, Financial Instruments, Capital Commitments