✨ Community Trust Annual Report
4 SEPTEMBER 2008 NEW ZEALAND GAZETTE, No. 136 3651
The trust undertook a thorough review of the appointment of its financial adviser in November 2007. This review was undertaken by the trustees so as to ensure that they were receiving the best possible advice in order to set and meet their investment policies and objectives. I am pleased to advise that Michael Chamberlain, of MCA (NZ) Limited, has been reappointed as the financial adviser to the trust for the next three years.
Community House
The Community House in Timaru has now been operating for a complete financial year. The house was fully occupied within three months of opening and is operating as intended – a home base for over 30 community groups who share resources and facilities. Increasing use of the facilities is being made by outside organisations and feedback has been very positive. Community House is proving to be a sound social investment.
The finishing touch to Community House is the clock at the top of the building. The clock enhances the heritage facade of the building and provides Timaru with a very visible timepiece. The Timaru Suburban Lions Club jointly funded the project as part of their celebrations recognising 50 years of Lions in New Zealand. We are most grateful to them for this generous gift to our region.
Staff
There have been no changes in staffing for the trust. Sally Marsh (administration officer) and John Wilson (executive manager) continue to provide efficient and loyal service to the trust and Community House.
Trustees
There were no changes to trustees during this financial year. Four trustees attended the Community Trusts Conference in March 2008. The West Coast Community Trust hosted the conference and we look forward to hosting the conference in 2012.
NICOLA HORNSEY, Trust Chairperson.
Date: 31 March 2008.
Statement of Financial Performance for the Year Ended 31 March 2008
| 2008 $ | 2007 $ | |
|---|---|---|
| Investment account— | ||
| Income: | ||
| Interest: Managed funds | 1,088,164 | 1,105,761 |
| Other | 5,283 | 494 |
| Sundry | 2,461 | — |
| Dividends: Managed funds | 243,075 | 196,115 |
| Total income | 1,338,983 | 1,302,370 |
| Less expenses— | ||
| Direct investment expenditure: | ||
| Management fees | 76,759 | 78,404 |
| Consultancy fees | 35,271 | 28,516 |
| Total direct investment expenditure | 112,030 | 106,920 |
| Less operating expenditure: | ||
| Advertising | 12,650 | 16,017 |
| Auditors’ fees | 5,045 | 4,800 |
| Legal fees | 6,486 | 4,863 |
| Postage, tolls and fax | 1,031 | 1,143 |
| Printing and stationery | 6,759 | 6,844 |
| Salary and wages | 95,952 | 95,397 |
| Professional fees: | ||
| – Accountancy and advisory | 7,819 | 9,501 |
| – Project costs | 911 | 954 |
| Sundry administration expenses | 15,684 | 12,255 |
| Conference expenses | 5,006 | 2,828 |
| Department of Internal Affairs costs | 1,380 | 1,610 |
| Trust rental | 7,090 | — |
| Trustees: | ||
| – Meeting expenses | 61,011 | 67,608 |
| – Travel | 10,277 | 10,246 |
| – Honoraria | 20,536 | 20,262 |
| Trustees’ insurance | 1,760 | 1,400 |
| Trustees’ training | 1,599 | 2,722 |
| Total operating expenditure | 260,996 | 258,450 |
| Net income before movement in managed funds and Community House rental account | 965,957 | 937,000 |
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NZ Gazette 2008, No 136
✨ LLM interpretation of page content
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The Community Trust of Mid & South Canterbury Incorporated Annual Report and Financial Statements for the Year Ended 31 March 2008
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🏢 State Enterprises & Insurance31 March 2008
Community Trust, Annual Report, Financial Statements, Donations, Investments
- Michael Chamberlain, Reappointed financial adviser
- Sally Marsh, Administration officer
- John Wilson, Executive manager
- Nicola Hornsey, Trust Chairperson