✨ Financial Statements and Grants
3 APRIL 2008
NEW ZEALAND GAZETTE, No. 69
1929
(b) Equity accounted earnings of associates
Equity accounted earnings comprise:
| Surplus/(deficit) before income tax | 21,300 | 8,807 | – | – |
| Amortisation of goodwill | – | – | – | – |
| Income tax | – | – | – | – |
| Net surplus/(deficit) | 21,300 | 8,807 | – | – |
15. Reconciliation with Net Surplus
| 2007 Group | 2006 Group | 2007 Parent | 2006 Parent | |
|---|---|---|---|---|
| Net surplus/(deficit) before distribution | 6,141,539 | 36,275,924 | 5,817,810 | 35,792,466 |
| Less: Grants | (11,770,094) | (7,469,922) | (11,770,094) | (7,469,922) |
| Net surplus/(deficit) | (5,628,555) | 28,806,002 | (5,952,284) | 28,322,544 |
Add/(less) movements in working capital items
| 2007 Group | 2006 Group | 2007 Parent | 2006 Parent | |
|---|---|---|---|---|
| Increase/(decrease) in accounts payable and accrued expenses | 41,939 | 14,094 | 13,644 | 3,026 |
| Increase/(decrease) in grants committed but not paid | (109,904) | (478,531) | (109,904) | (478,531) |
| (Increase)/decrease in accounts receivable | (107,297) | 493,156 | (132,302) | 484,061 |
| (Increase)/decrease in taxation refund due | – | 1,379 | – | – |
| (175,262) | 30,098 | (228,562) | 8,556 |
Add/(less) non-cash items
| 2007 Group | 2006 Group | 2007 Parent | 2006 Parent | |
|---|---|---|---|---|
| Depreciation | 67,407 | 73,677 | 66,240 | 71,655 |
| Depreciation recovered | (4,500) | (68,488) | (4,500) | – |
| Increase/(decrease) in non-current grants committed | 4,004,000 | – | 4,004,000 | – |
| Revaluation of investments | 685,612 | – | 685,612 | – |
| Revaluation of property | (135,773) | (96,859) | (135,773) | (96,859) |
| Non cash interest income | (20,241) | – | (20,241) | – |
| Loan repayment by way of a grant approval | 40,000 | 40,000 | 40,000 | 40,000 |
| Share of associates earnings | (21,300) | (8,807) | – | – |
| 4,615,205 | (60,477) | 4,635,338 | 14,796 | |
| Net cash from operating activities | (1,188,612) | 28,775,623 | (1,545,508) | 28,345,896 |
16. Grants Committed Not Paid
Commitments of $4,004,000 exist for grants which will be distributed from either capital or future income sources in future years. Specific commitments are as follows:
| Parent 2007 | Parent 2006 | |
|---|---|---|
| Croydon Aviation Museum | 280,000 | 280,000 |
| Deep Cove Outdoor Education Trust | 15,000 | – |
| Families First Trust | – | 40,000 |
| Gore & Districts St James Theatre Trust | 400,000 | – |
| Invercargill Repertory Society | 20,000 | – |
| Invercargill Student Support Network | 1,144,000 | – |
| Netball Southland | 50,000 | – |
| Queenstown Aquatic Centre | 1,500,000 | 1,500,000 |
| Queenstown Christian Camp | 105,000 | – |
| South Catlins Environment and Development Trust | 250,000 | 500,000 |
| Southland Indoor Leisure Centre Charitable Trust | – | 80,000 |
| Tuatapere Hump Ridge Track | – | 40,000 |
| University of Otago | 240,000 | – |
| Wakatipu Trails Trust | – | 100,000 |
| 4,004,000 | 2,540,000 |
The years in which these commitments fall due are as follows:
| Year ending 31 March | Parent 2007 | Parent 2006 |
|---|---|---|
| 2007 | – | 790,000 |
| 2008 | 1,868,800 | 550,000 |
| 2009 | 748,800 | 350,000 |
| 2010 | 598,800 | 400,000 |
| 2011 | 648,800 | 450,000 |
| 2012 | 138,800 | – |
| Total | 4,004,000 | 2,540,000 |
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Online Sources for this page:
VUW Te Waharoa —
NZ Gazette 2008, No 69
Gazette.govt.nz —
NZ Gazette 2008, No 69
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Financial Performance Statement of The Community Trust of Southland
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💰 Finance & RevenueFinancial Performance, Community Trust, Southland, Investment, Cash Flows, Accounting Policies, Trust Capital, Accounts Receivable, Loans, Investments