✨ Financial Statements
10 AUGUST 2006 NEW ZEALAND GAZETTE, No. 95 2831
10. Property, Plant and Equipment
| 2006 $'000 | 2005 $'000 | |
|---|---|---|
| Office equipment: | ||
| At cost | 199 | 210 |
| Accumulated depreciation | (139) | (135) |
| Net book value | 60 | 75 |
| 2006 $'000 | 2005 $'000 | |
|---|---|---|
| Motor vehicles: | ||
| At cost | 74 | 74 |
| Accumulated depreciation | (39) | (23) |
| Net book value | 35 | 51 |
| 2006 $'000 | 2005 $'000 | |
|---|---|---|
| Art and artefacts: | ||
| At cost | 629 | 543 |
| Accumulated depreciation | – | – |
| Net book value | 629 | 543 |
| 2006 $'000 | 2005 $'000 | |
|---|---|---|
| Buildings: | ||
| At cost | 973 | 969 |
| Accumulated depreciation | (239) | (204) |
| Net book value | 734 | 765 |
| 2006 $'000 | 2005 $'000 | |
|---|---|---|
| Land: | ||
| At cost | 841 | 841 |
| Accumulated depreciation | – | – |
| Net book value | 841 | 841 |
| Total property, plant and equipment | 2,299 | 2,275 |
11. Capital Commitments and Contingent Liabilities
Commitments of $1,000,000 (2005 – $1,730,000) exist for donations that have been approved in the current or previous years subject to the fulfilment of certain conditions in future years. These donations, which will be distributed from either capital or future income sources, have not been recorded in either the statement of financial performance or statement of financial position.
Subject to fulfilment of the conditions, the commitments payable in 2006/2007 are $1,000,000.
There are no other capital commitments or contingent liabilities at balance date (2005 – Nil).
| 2006 $'000 | 2005 $'000 |
|---|
12. Cash Flow Reconciliation
| Net surplus (deficit) | 21,445 | 10,027 |
| Adjust for non-cash items: | | |
| Depreciation and loss on sale | 74 | 85 |
| Investment income | (13,845) | (353) |
| | (13,771) | (268) |
Impact of changes in working capital items:
| (Increase)/decrease in accounts receivable | (63) | – |
| Increase/(decrease) in accounts payable | (24) | (67) |
| Increase/(decrease) in donations payable | 299 | 375 |
| | 212 | 308 |
| Net cash inflow from operating activities | 7,886 | 10,067 |
13. Financial Instruments
The trust uses the services of an investment advisor to pursue an investment policy considered appropriate for the trust. The current policy is to achieve a long-term asset allocation of:
- New Zealand equities: 7.50%
- New Zealand fixed interest: 25.00%
- New Zealand cash: 12.50%
- Global fixed interest (fully hedged): 27.50%
- Global equities (fully hedged): 27.50%
Total: 100.00%
The following financial assets have been recognised in the financial statements of the trust.
| 2006 $'000 | 2005 $'000 | |
|---|---|---|
| Investments | 236,108 | 216,144 |
| 236,108 | 216,144 |
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Online Sources for this page:
VUW Te Waharoa —
NZ Gazette 2006, No 95
Gazette.govt.nz —
NZ Gazette 2006, No 95
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Waikato Community Trust Financial Statements for 2005-2006
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💰 Finance & RevenueFinancial Performance, Trust Funds, Financial Position, Waikato Community Trust