✨ Financial Statements and Donations
3116 NEW ZEALAND GAZETTE, No. 105 7 SEPTEMBER 2006
(iii) General reserves – intended to enable the trustees to continue with distributions should the trust incur a deficit in
a particular income year.
(e) Basis of Consolidation
The Community Trust of Mid & South Canterbury Incorporated and its subsidiary the Trust Bank South Canterbury
Community Trust Charities Limited have been consolidated using the purchase method of consolidation.
(f) Depreciation
The assets of the trust are stated at cost price less depreciation based on rates as allowed by the Inland Revenue
Department.
Changes in Accounting Policies
There have been no changes in accounting policy.
- Capital Fund
| 2006 | 2005 | |
|---|---|---|
| Initial capital fund | $32,087,148 | $32,087,148 |
| Balance at end of the year | $32,087,148 | $32,087,148 |
- Inflation Reserve
| 2006 | 2005 | |
|---|---|---|
| Balance at beginning of the year | 5,184,500 | 3,242,489 |
| Transfer from/to general reserves | 1,789,889 | 1,942,011 |
| Balance at end of year | 6,974,389 | 5,184,500 |
- General Reserves
| 2006 | 2005 | |
|---|---|---|
| Balance at beginning of the year | – | – |
| Add: Surplus for the year | 5,899,410 | 2,464,413 |
| Distribution from Community House Trust | – | 43,343 |
| Add: Donations returned | 4,300 | 5,000 |
| 5,903,710 | 2,512,756 | |
| Deduct: Donations approved | (1,056,741) | (566,426) |
| Deduct: Tax adjustment | – | (4,319) |
| Transfer to inflation reserve | (1,789,889) | (1,942,011) |
| Balance at end of the year | 3,057,080 | – |
- Donations Approved Not Yet Paid
Approved donations not yet paid out include:
| 2006 | 2005 | |
|---|---|---|
| Air Training Corp – No 15 Squadron | $603 | – |
| Alzheimers Society SC Inc | 462 | – |
| Aoraki Community Toy Library | 500 | – |
| Ashburton Community Pool | – | 20,000 |
| Ashburton Domain Pavilion Committee | 2,000 | – |
| Ashburton Regent Charitable Trust | 300,000 | – |
| Ashburton Safer Community Council | 5,000 | – |
| Citizens Advice Bureau | 1,000 | – |
| Geraldine Aged Persons Welfare Assn Inc | 80,000 | – |
| Geraldine Pre-school Inc | – | 5,000 |
| Geraldine Vintage Car & Machinery Club | 10,000 | – |
| Hakatere Maori Committee | – | 10,000 |
| Highfield Community Club | 424 | – |
| Hilton Hall Committee | – | 2,000 |
| Hinds History Group | 2,500 | – |
| Hinds Squash Racquets Club Inc | 15,000 | – |
| Holy Name Catholic Parish Ashburton | – | 20,000 |
| IHC South Canterbury | – | 1,500 |
| Lake Clearwater Hutholders Association | – | 2,000 |
| Mid/South Canterbury Life Education Trust | 20,000 | – |
| Mid Canterbury Cricket Association | – | 1,000 |
| Mid/South Canterbury Search & Rescue | – | 60,000 |
| Order of St John – Mackenzie Area | 65,000 | – |
| Pleasant Point Railway & Historical Society | 780 | – |
| Project Waimate Inc | 50,000 | – |
| SC Bonsai Society | 200 | – |
| SC Conservation Trust | – | 500 |
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Online Sources for this page:
VUW Te Waharoa —
NZ Gazette 2006, No 105
Gazette.govt.nz —
NZ Gazette 2006, No 105
✨ LLM interpretation of page content
💰
Notes to the Consolidated Financial Statements for the Year Ended 31 March 2006
(continued from previous page)
💰 Finance & RevenueAccounting Policies, Financial Statements, Trust Capital, Dividend Income, Donations, Investments
💰 Capital Fund Report
💰 Finance & RevenueCapital Fund, Trust Funds, Financial Reporting
💰 Inflation Reserve Report
💰 Finance & RevenueInflation Reserve, Financial Reporting, Trust Funds
💰 General Reserves Report
💰 Finance & RevenueGeneral Reserves, Financial Reporting, Trust Funds, Donations
💰 Donations Approved Not Yet Paid
💰 Finance & RevenueDonations, Trust Funds, Charitable Contributions