✨ Financial Performance Statement
3916 NEW ZEALAND GAZETTE, No. 143 25 SEPTEMBER 2008
| 2008 | 2007 | |
|---|---|---|
| Legal fees | 40 | 112 |
| Occupancy costs | 72 | 153 |
| Other operating costs | 952 | 452 |
| Public and statutory reporting | 177 | 123 |
| Staff expenses | 1,871 | 1,400 |
| Trustees’ fees | 256 | 233 |
| Trustees’ expenses | 123 | 106 |
| Tax advice (paid to KPMG – Auditors) | 1 | 1 |
| 3,661 | 2,715 |
- Related Party Information
The following companies have been established by the trust:
| Name | Interest Held | Balance Date | Principal Activity |
|---|---|---|---|
| ASB Trusts Amateur Public Sports | 100% | 31 March | Grants to amateur sport bodies |
| Promotion Limited | |||
| ASB Community Trust Charitable Purposes | 100% | 31 March | Grants for specific charitable purposes |
| Limited |
These subsidiaries were incorporated on 29 March 2001. They have not traded since incorporation. During the year, the ASB Trusts Public Amenities Development Limited changed its name to ASB Community Trust Charitable Purposes Limited, and amended its constitution to meet the requirements of the Charities Act 2005. On 31 March 2008, the trust committed, but has not paid, a grant to the ASB Community Trust Charitable Purposes Limited to further the objectives of the company.
The trustees are the key management personnel of the trust as defined by NZ IAS 24: Related Party Disclosures. As the trustees are not employees of the trust, they do not receive short-term employee benefits, post employment benefits, other long-term benefits, or termination benefits. Trustees are appointed by the New Zealand Government and remunerated at rates set by the Government. These rates were last set in June 2002. During the year, trustees received honoraria and meeting fees as follows:
| Trustee | 2008 | 2007 |
|---|---|---|
| C. Craven | 19,345 | 16,375 |
| M. Foy | 18,000 | 14,955 |
| A. Green | 14,150 | 13,695 |
| P. Greenbank | 20,450 | 17,965 |
| L. Howard-Smith | – | 2,066 |
| W. Jensen | 12,645 | 13,800 |
| J. Kirk | 17,020 | 14,115 |
| K. Kohere-Soutar | 16,939 | 14,710 |
| Yoon Boo Lee | 14,815 | 12,645 |
| B. Lythe | 19,695 | 18,540 |
| M. Maka | – | 2,066 |
| S. Pamaka | 13,800 | 10,960 |
| W. Petera | 11,700 | 11,065 |
| K. Prime | 29,100 | 26,595 |
| P. Rowe | 14,150 | 12,095 |
| P. Sneddon | 16,255 | 15,235 |
| L. Wilson | 17,530 | 16,180 |
- Financial Assets and Liabilities
The trust has the following financial assets and liabilities:
Financial Assets
| 2008 | 2007 | |
|---|---|---|
| Cash at bank | 1,466 | 15,717 |
| Sundry accounts receivable | 380 | 355 |
| Managed funds consisting of: | ||
| Global equities | 366,867 | 367,665 |
| Global bonds | 254,368 | 254,887 |
| Collateralised commodities futures (CCF) | 71,720 | 58,026 |
| Global property | 23,474 | – |
| New Zealand equities | 108,052 | 114,251 |
| New Zealand bonds | 214,648 | 239,138 |
| Cash | 59,550 | 80,373 |
Next Page →
NZ Gazette 2008, No 143
✨ LLM interpretation of page content
💰
ASB Community Trust Financial Performance Statement
(continued from previous page)
💰 Finance & Revenue26 May 2008
Community Trust, Financial Performance, Statement, Financial Position, Cash Flows, Grants, Trust Funds, Reserves
17 names identified
- C. Craven, Trustee honoraria and meeting fees
- M. Foy, Trustee honoraria and meeting fees
- A. Green, Trustee honoraria and meeting fees
- P. Greenbank, Trustee honoraria and meeting fees
- L. Howard-Smith, Trustee honoraria and meeting fees
- W. Jensen, Trustee honoraria and meeting fees
- J. Kirk, Trustee honoraria and meeting fees
- K. Kohere-Soutar, Trustee honoraria and meeting fees
- Yoon Boo Lee, Trustee honoraria and meeting fees
- B. Lythe, Trustee honoraria and meeting fees
- M. Maka, Trustee honoraria and meeting fees
- S. Pamaka, Trustee honoraria and meeting fees
- W. Petera, Trustee honoraria and meeting fees
- K. Prime, Trustee honoraria and meeting fees
- P. Rowe, Trustee honoraria and meeting fees
- P. Sneddon, Trustee honoraria and meeting fees
- L. Wilson, Trustee honoraria and meeting fees