New Zealand Gazette – 2006 – No. 91

Page 2744

✨ Financial Statements and Related Transactions



2744 NEW ZEALAND GAZETTE, No. 91 3 AUGUST 2006

  1. Financial Instruments
    Currency Risk
    The trust, through its fund managers, invests in securities that are denominated in foreign currencies and therefore result in
    a currency risk. The trusts fund managers actively monitor this risk and hedge positions in accordance with their investment
    guidelines.

Interest Rate Risk
The trust, through its fund managers, invests in securities that are subject to interest rate risk. The trusts fund managers monitor
this risk and change asset allocations and maturity profiles in accordance with their investment guidelines.

Credit Risk
The trust, in the normal course of business, enters into arrangements with other parties. These arrangements give rise to credit
risk for the trust and hence policies and procedures are maintained so that the risk is minimised. No collateral is required
in respect of financial assets.

For all classes of financial assets held by the trust, the maximum credit risk exposure to the trust is the carrying value
as disclosed in the financial statements at balance date.

Due to the diversification of the investment portfolio and the policies and procedures in place, there are no significant
concentrations of credit risk.

Fair Values
All financial instruments are carried at market value.

  1. Reconciliation of Reported Surplus to Net Cashflow From Operating Activities
2006 2005
$000 $000
Surplus for the period 22,803 10,594
Add:
Non-cash items:
Depreciation 51 50
Managed fund (revaluation)/devaluation (23,974) (11,708)
(23,923) (11,658)
Movements in working capital items:
Increase/(decrease) in creditors 32 (60)
(Increase)/decrease in debtors 2 14
34 (46)
Net cashflow/(outflow) from operating activities (1,086) (1,110)

8 Related Party Transactions
Several of the trustees of the community trust are also members of the governing body of organisations which were recipients
of community trust donations during the year. The details are as follows:

Trustees Recipient Organisation Donation Amount
Hilary Allison Anglican Family Care $65,860
Russell Hendry Otago Cricket Association 60,000
Sally Hope Oamaru Victorian Heritage Celebrations 5,600
Alan McLay Waitaki District Council 5,000
WDC-Waitaki Development Board 80,000
Barbara Payton Basketball Otago 70,000
Otago Employment Trust 2,860
Raewynne Pedofski IDEA Services Otago 16,500
Mark Ryan Otago Polytechnic 2,000
Nicola Taylor Otago Polytechnic 2,000
Pikiake Te Rito 2,860
Trustees of the Purakanui Urupa 2,000
Bill Thomson Heartland Otago/Southland Life Education Trust 51,400

  1. Contingent Liabilities
    Contingent liabilities at 31 March 2006 – $Nil. (2005 – $Nil).

  2. Advance to Dunedin Community House Trust (Inc.)
    A 10-year term, interest free advance was made to the Dunedin Community House Trust (Inc.) in December 1999.



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Online Sources for this page:

VUW Te Waharoa — PDF NZ Gazette 2006, No 91


Gazette.govt.nz — PDF NZ Gazette 2006, No 91




✨ LLM interpretation of page content

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

💰 Finance & Revenue
Financial Instruments, Currency Risk, Interest Rate Risk, Credit Risk, Fair Values, Financial Assets, Investment Portfolio

💰 Reconciliation of Reported Surplus to Net Cashflow From Operating Activities

💰 Finance & Revenue
Surplus, Depreciation, Managed Fund, Working Capital, Cashflow, Operating Activities

💰 Related Party Transactions

💰 Finance & Revenue
Trustees, Community Trust, Donations, Organisations, Financial Transactions
9 names identified
  • Hilary Allison, Trustee and recipient of donation
  • Russell Hendry, Trustee and recipient of donation
  • Sally Hope, Trustee and recipient of donation
  • Alan McLay, Trustee and recipient of donation
  • Barbara Payton, Trustee and recipient of donation
  • Raewynne Pedofski, Trustee and recipient of donation
  • Mark Ryan, Trustee and recipient of donation
  • Nicola Taylor, Trustee and recipient of donation
  • Bill Thomson, Trustee and recipient of donation

💰 Contingent Liabilities

💰 Finance & Revenue
Liabilities, Financial Year, Nil Contingent Liabilities

💰 Advance to Dunedin Community House Trust (Inc.)

💰 Finance & Revenue
Interest-Free Advance, Community Trust, Financial Assistance