2992 NEW ZEALAND GAZETTE, No. 100 24 AUGUST 2006

9. Distributions

$
Distributions made during the year 77,793
Less distributions returned during year 8,360
Net distributions made 69,433

Audit Report

To the Readers of the Financial Statements of West Coast Community Trust

We have audited the consolidated financial report. The financial report provides information about the past financial performance of the West Coast Community Trust and group and its financial position as at 31 March 2006. This information is stated in accordance with the accounting policies set out in the financial report.

Trustees’ Responsibilities

The trustees are responsible for the preparation of a financial report which gives a true and fair view of the financial position of the West Coast Community Trust and group as at 31 March 2006 and the results of operations for the year ended on that date.

Auditors’ Responsibilities

It is our responsibility to express an independent opinion on the financial report presented by the trustees and report our opinion to you.

Basis of Opinion

An audit includes examining, on a test basis, evidence relevant to the amounts and disclosures in the financial report. It also includes assessing:

• the significant estimates and judgements made by the trustees in the preparation of the financial report; and
• whether the accounting policies are appropriate to the West Coast Community Trust and group circumstances, consistently applied and adequately disclosed.

We conducted our audit in accordance with New Zealand auditing standards. We planned and performed our audit so as to obtain all the information and explanations which we considered necessary in order to provide us with sufficient evidence to obtain reasonable assurance that the financial report is free from material misstatements, whether caused by fraud or error. In forming our opinion, we also evaluated the overall adequacy of the presentation of information in the financial report.

The offices of Wilding Smith & Co act as the registered office of the West Coast Community Trust Charitable Company Limited, a wholly-owned subsidiary of the trust.

Our firm provided administrative services to the company in relation to this function from time to time. Our firm has no other interests in the West Coast Community Trust or its subsidiary.

Unqualified Opinion

We have obtained all the information and explanations we have required.

In our opinion:

• proper accounting records have been kept by the West Coast Community Trust and as far as appears from our examination of those records; and
• the financial report:
– complies with generally accepted accounting practice; and
– gives a true and fair view of the financial position of the West Coast Community Trust and group as at 31 March 2006 and the results of operations for the year ended on that date.\n
Our audit was completed on 16 August 2006 and our unqualified opinion is expressed as at that date.

WILDING SMITH & CO, Chartered Accountants, Hokitika.

(The West Coast Community Trust gives notice that the Minister of Finance has directed that they need not publish the full list of grants in the New Zealand Gazette but will provide a copy of its list of grants to anyone upon request from:
The Secretary, West Coast Community Trust, P.O. Box 190, Hokitika.)

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New Zealand Gazette Fee Increase

Due to increased costs, the charge for notices published in the New Zealand Gazette will increase from 40 cents per word to 50 cents per word with effect from 1 September 2006.