New Zealand Gazette – 2006 – No. 112

Page 3329

✨ Financial Statements



28 SEPTEMBER 2006 NEW ZEALAND GAZETTE, No. 112 3329

5.2 Other Investments Comprise

2006 2005
Call deposits 610 317
Call deposits distributed by ASB Charitable Trust 614 –
Total 1,224 317

6. Grants

6.1 For This Year

2006 2005
Committed and disbursed 8,651 6,499
Committed but not yet disbursed 25,814 16,617
Total grants approved 34,465 23,116
Grants written back (1,396) (964)
Grants committed this year 33,069 22,152

6.2 Outstanding Grants Payable

2006 2005
Committed in previous years 5,298 11,619
Committed this year 25,814 16,610
Total outstanding 31,112 28,229

Liability assumed for outstanding grants payable on distribution of ASB Charitable Trust Fund:

2006
Committed in previous years 4,336
Committed this year 12,086
Total 47,534

7. Trust Funds and Reserves

7.1 Trust Capital

2006 2005
Original capital 327,320 327,320
Original capital received on distribution from ASB Charitable Trust 251,786 –
Total trust capital 579,106 327,320

7.2 Capital Maintenance Reserve

2006 2005
Opening balance 32,142 22,252
Transfer from surplus 12,376 9,890
Capital maintenance reserve received on distribution from ASB Charitable Trust 125,243 –
Total capital maintenance reserve 169,761 32,142

7.3 General Reserve

2006 2005
Opening balance 75,000 50,000
Transfer from retained surplus 50,000 25,000
General reserve received on distribution from ASB Charitable Trust 75,000 –
Total general reserve 200,000 75,000

7.4 Community Innovation Reserve

As a result of the exceptional investment returns achieved in the 2005/06 year, the trustees resolved to establish a community innovation reserve of $65 million. The fund will be administered according to specific policies and guidelines which will be developed during the 2006/07 financial year.

2006 2005
Balance at 1 April – –
Transfer from retained surplus 65,000 –
Total community innovation reserve 65,000 –

7.5 Retained Surplus

2006 2005
Retained surplus 72,435 51,208
Retained surplus received on distribution from ASB Charitable Trust 72,641 –
Total before transfers 145,076 51,208
Less: Transfer to general reserve (50,000) (25,000)
Transfer to community innovation reserve (65,000) –
Total retained surplus 30,076 26,208

These reserves maintain the capital base of the trust.



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Online Sources for this page:

VUW Te Waharoa — PDF NZ Gazette 2006, No 112


Gazette.govt.nz — PDF NZ Gazette 2006, No 112




✨ LLM interpretation of page content

💰 Notes to the Financial Statements for the Year Ended 31 March 2006 (continued from previous page)

💰 Finance & Revenue
29 May 2006
Accounting Policies, Financial Statements, Trust Funds, ASB Bank Community Trust