New Zealand Gazette – 2007 – No. 110

Page 2930

✨ Financial Statements



2930

NEW ZEALAND GAZETTE, No. 110

11 OCTOBER 2007

  1. Fixed Assets

Land:
At cost

Buildings:
At cost
Accumulated depreciation

Office furniture and equipment:
At cost
Accumulated depreciation

Total net carrying value

Depreciation:
Buildings
Office furniture and equipment

2007
Book
Value
$000

2006
Book
Value
$000

432

432

1,026
(427)
599

1,026
(395)
631

259
(224)
35
1,066

258
(214)
44
1,107

32
14
46

34
17
51

  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 trust’s 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 trust’s 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

Surplus for the period

Add:
Non-cash items:
Depreciation
Managed fund (revaluation)/devaluation

Movements in working capital items:
Increase/(decrease) in creditors
(Increase)/decrease in debtors

Net cashflow/(outflow) from operating activities

2007
$000
10,798

2006
$000
22,803

46
(11,947)
(11,901)

51
(23,974)
(23,923)

(11)
(27)
(38)
(1,141)

32
2
34
(1,086)

  1. Related Party Transactions

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



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Online Sources for this page:

VUW Te Waharoa — PDF NZ Gazette 2007, No 110


Gazette.govt.nz — PDF NZ Gazette 2007, No 110




✨ LLM interpretation of page content

🏢 The Community Trust of Otago Financial Statements for the Year Ended 31 March 2007 (continued from previous page)

🏢 State Enterprises & Insurance
26 June 2007
Financial Statements, Trust Funds, Revenue, Expenditure, Dunedin