NEW ZEALAND GAZETTE, No. 127
14 AUGUST 2008

Totara Springs Christian Centre (25,000)
Waikato District Council (3,500)
(102,213)

Total donations for the year 8,611,853

Of this amount, $7,449,352 has actually been paid to community groups during the year. The remainder is made up of $2,494,000, representing donations which will be paid when it is clear to the trust that the project in question will proceed and/or any other conditions have been met, less $1,331,500, representing donations that have previously been classified as payables but have now been reclassified as contingent commitments.

Donations payable at balance date are:

For the 2008/09 year $ 1,414,000
For the 2009/10 year 1,080,000
2,494,000

A full list of donations is available on request.

17. Meeting Attendance

The trust held 25 formal meetings during the year. The following table records each trustee’s attendance at these formal meetings:

Trustee Meeting Attendance Remuneration $
Anderson, Josie 12 5,940
Astle, Dennis 21 10,805
Baddeley, Clint 21 13,910
Cave, Christine 19 11,085
Doube, Bernadette 12 8,145
Hosking, Bruce (deputy chair to June 2007, investment committee chair from June 2007) 23 22,206
Karalus, Peta 14 11,085
Kilbride, John (chair from June 2007) 21 36,352
Law, Michael 22 15,215
McConnell, Angus (from June 2007) 17 9,838
Moxon, Tureiti (deputy chair from June 2007) 19 18,193
Muru, Judith (from June 2007) 15 11,483
Purnell, Max 20 11,855
Saunders, Glenda (to May 2007 as investment committee chair) 1 1,273
Tan, Fee-Ching 22 16,195
Te Awa, Ratapu Hori (to May 2007 as chair) 2 6,345

Total remuneration 209,926

In addition during the year, trustees took part in three Trust Waikato subcommittees, various training and development forums and community sector forums.

Trustees and trust staff were invited to 205 separate formal and informal meetings and functions. The trust was able to achieve representation at approximately 140 of these meetings and functions.

18. Conflicts of Interest

During the year, trustees and staff were required to declare when they had either a direct or indirect conflict of interest in a matter being considered by the trust. 119 such interests were recorded during the course of the year (2007 – 115) and a register of those interests is available for inspection at the trust.

                2008            2007
                NZ$’000     NZ$’000

19. Operating Lease
    Non–cancellable operating leases:

Not longer than 1 year 11 29
Longer than 1 year and not longer than 5 years – 11
Longer than 5 years – 40

Operating leases relate to buildings at 87 Boundary Road and 4 Little London Street. The lease term for 87 Boundary Road is 5 years with no right of renewal. The final expiry date of the lease is 19 September 2008. The lease term for 4 Little London Street is 3 years with no right of renewal. The final expiry date of the lease was 30 September 2007. A casual lease arrangement has been in place until Trust Waikato took over the building at 4 Little London Street after 31 March 2008.

The carrying value of the leased asset is $798,857 (land – $180,453, buildings – $618,404), the accumulated depreciation is $126,716 and the depreciation charge for the year is $17,455.

20. Impacts of the Adoption of New Zealand Equivalents to International Financial Reporting Standards

The trust changed its accounting policies on 1 April 2007 to comply with NZ IFRS. The transition to NZ IFRS is accounted for in accordance with NZ IFRS-1 "First-time Adoption of New Zealand Equivalents to International Financial Reporting Standards", with 1 April 2006 as the date of transition.