✨ Financial Statements Notes
5 AUGUST 2009 NEW ZEALAND GAZETTE, No. 113 2599
THE WAIKATO COMMUNITY TRUST INCORPORATED
NOTES TO AND FORMING PART OF THE FINANCIAL STATEMENTS
For the year ended 31 March 2009
| 2009 | 2008 | |
|---|---|---|
| NZ$'000 | NZ$'000 | |
| 20. OPERATING LEASE ARRANGEMENTS | ||
| The Trust as Lessor | ||
| Non - cancellable operating lease receivable | ||
| Not longer than 1 year | 22 | 11 |
| Longer than 1 year and not longer than 5 years | 33 | - |
| Longer than 5 years | - | - |
| 55 | 11 |
The operating lease relates to the building owned by the Trust at 87 Boundary Road, which is included in property, plant & equipment in the Balance Sheet. The lease term for 87 Boundary Road is three years with no right of renewal. The final expiry date of the lease is 19 September 2011.
The carrying value of the leased asset is $356,239 (Land - $87,000, Buildings - $269,239), the accumulated depreciation is $64,204 and the depreciation charge for the year is $11,412.
21. SUBSEQUENT EVENTS
There are no matters or events that have arisen, or been discovered, subsequent to balance date that would require adjustment to, or disclosure in, these financial statements.
22. RELATED PARTY TRANSACTIONS
Key Management Personnel
The compensation of the Trustees and executives, being the key management personnel of the Trust, is set out below:
| 2009 | 2008 | |
|---|---|---|
| NZ$'000 | NZ$'000 | |
| Short term Trustee and employee benefits | 352 | 357 |
| 352 | 357 |
Transactions with Key Management Personnel
Key management were related to organisations that received donations totalling $69,000 (2008-$70,000) during the year. Interests were declared when these donations were considered and key management took no part in deliberations relating to organisations they had an interest in.
There are no outstanding balances at balance date.
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NZ Gazette 2009, No 113
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Financial Statements of The Waikato Community Trust Incorporated
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💰 Finance & RevenueFinancial Statements, Operating Lease, Subsequent Events, Related Party Transactions, Waikato Community Trust