New Zealand Gazette – 2007 – No. 84

Page 2196

✨ Community Trust Financial Statements



2196 NEW ZEALAND GAZETTE, No. 84 26 JULY 2007

  1. Segment Information
    The trust’s only activity is to receive income to allocate for charitable, cultural, philanthropic, recreational and other purposes
    beneficial to the community, principally in the Bay of Plenty area.

  2. Contingent Liabilities
    The trust has no contingent liabilities other than those disclosed in Note 12 (2006 – Nil).

  3. Grant Commitments
    The following unconditional future grants have been approved:

Grants Recipient 2008 2009 2010
Sport BOP 350,000 350,000 350,000
Phillips SRT 200,000 200,000 100,000
Shakti Ethnic Women’s Group (Central Region) 18,000 18,000 18,000
Opotiki Kiwican Charitable Trust 25,000 0 0
Total unconditional future grants 593,000 568,000 468,000

The following conditional future grants have been approved but are subject to the applicants satisfying specific criteria in each case:

Grants Recipient Amount
St Andrews Presbyterian Church of Te Puke 15,000
Waihau Bay Volunteer Rural Fire Force 30,000
Shakti Ethnic Women’s Group (Central Region) 5,000
Whakarewarewa Rugby Community Sports Inc 5,000
Tuwharetoa Social Services 10,000
Pongakawa Community Trust 10,000
Nga Whare Oranga Trust 51,020
Tauranga Millennium Track Trust 100,000
Total conditional future grants 226,020
  1. Commitments
    Capital commitments:
    There are no capital commitments (2006 – Nil).

Lease commitments:
Lease commitments under non-cancellable operating leases:

Less than one year $61,562
(2006 – $45,082).

Schedule of Distributions of Income by Way of Grants for the Year Ended 31 March 2007
Grants made by the trust may be summarised as follows:

2007 2006
$000 $000
Grants 3,637 3,171
Dillon Memorial Scholarship 77 84
Total 3,714 3,255

Auditor’s Report
To the Trustees of Bay of Plenty Community Trust Incorporated

We have audited the financial statements provide information about the past financial performance and financial position of the trust and its financial position as at 31 March 2007. This information is stated in accordance with the accounting policies.

Trustees’ Responsibilities
The trustees are responsible for the preparation of financial statements, which give a true and fair view of the financial position of the trust as at 31 March 2007, and of the results of operations and cash flows for the year ended on that date.

Auditors’ Responsibilities
It is our responsibility to express to you an independent opinion on the financial statements presented by the trustees.

Basis of Opinion
An audit includes examining, on a test basis, evidence relevant to the amounts and disclosures in the financial statements. It also includes assessing:

  • the significant estimates and judgments made by the trustees in the preparation of the financial statements; and
  • whether the accounting policies are appropriate to the trust’s circumstances, consistently applied and adequately disclosed.

We conducted our audit in accordance with New Zealand Auditing Standards. We planned and performed our audit so as to obtain all the information and explanations which we considered necessary in order to provide us with sufficient evidence to give reasonable assurance that the financial statements are free from material misstatements, whether caused by fraud or error. In forming our opinion, we also evaluated the overall adequacy of the presentation of information in the financial statements.

Other than in our capacity as auditors, we have no relationship with or interest in the trust.



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Online Sources for this page:

VUW Te Waharoa — PDF NZ Gazette 2007, No 84


Gazette.govt.nz — PDF NZ Gazette 2007, No 84




✨ LLM interpretation of page content

🏛️ Bay of Plenty Community Trust Incorporated Annual Report for the Year Ended 31 March 2007 (continued from previous page)

🏛️ Governance & Central Administration
26 June 2007
Community Trust, Financial Statements, Equity, Grants, Investments