✨ West Coast Community Trust Financial Statements
NEW ZEALAND GAZETTE, No. 123
19 AUGUST 2009
West Coast Community Trust
Statement of Accounting Policies & Notes
for the Year Ended 31 March 2009
Trustee Attendance - Meetings
| Name of Trustee | Board Meetings Held | Board Meetings Attended | Honorarium and Meeting Fees |
|---|---|---|---|
| Peter Kerridge | 4 | 4 | 5,830 |
| Dennis Straker | 4 | 4 | 3,240 |
| John Sturgeon | 4 | 4 | 2,350 |
| Rowan Sullivan | 4 | 4 | 2,350 |
| Anthony Sullivan | 4 | 4 | 2,350 |
| Carol Keoghan | 4 | 4 | 2,350 |
| Elizabeth Rock | 4 | 3 | 1,925 |
| Eunice Brown | 4 | 3 | 2,100 |
| Mark Lockington | 4 | 3 | 1,925 |
Total remuneration paid in the year ended 31 March 2009 $24,420
-
TRUST FUNDS
Although the trust does not maintain an inflation reserve, it does seek to maintain the trust capital in real terms. The trust calculates that an amount of $1,690,419 is required to be retained to stabilise the original $3m fund from inflation. Our current retained earnings is $2,036,067 which leaves $345,648 as the growth of the trust in real terms. -
INVESTMENTS
The value of investments which are held in equities and fixed interest are subject to market fluctuations. The total investment portfolio is diversified in a way such that over time reductions in value in particular asset classes should be more than offset by increases in other classes. Investments are disclosed at market value at balance date and any gains (losses) arising from that treatment are shown under Revenue in the Statement of Financial Performance. No provision has been made for potential gains or losses that could occur due to future market fluctuations. The investment portfolio as at 31 March 2009 is diversified as follows:
| AMP Funds $000 | Actual % | |
|---|---|---|
| New Zealand Equities (Passive) | 215 | 4.2 |
| New Zealand Fixed Interest | 1,174 | 23.5 |
| New Zealand Enhanced Yield | 1,381 | 27.6 |
| New Zealand Cash Fund | 1,201 | 24.0 |
| Global Equities | 687 | 13.7 |
| Global Equities (Passive) | 350 | 7.0 |
| TOTAL | 5,008 | 100.0 |
The West Coast Community Trust gives notice that the Minister of Finance has directed that they need not publish the full list of grants in the New Zealand Gazette but will provide a copy of its list of grants to anyone upon request from The Secretary, West Coast Community Trust, PO Box 190, Hokitika.
Next Page →
NZ Gazette 2009, No 123
✨ LLM interpretation of page content
💰
West Coast Community Trust Financial Statements
(continued from previous page)
💰 Finance & RevenueFinancial Statements, West Coast, Community Trust, Income, Expenses, Assets, Liabilities
9 names identified
- Peter Kerridge, Trustee, attended all meetings
- Dennis Straker, Trustee, attended all meetings
- John Sturgeon, Trustee, attended all meetings
- Rowan Sullivan, Trustee, attended all meetings
- Anthony Sullivan, Trustee, attended all meetings
- Carol Keoghan, Trustee, attended all meetings
- Elizabeth Rock, Trustee, attended 3 out of 4 meetings
- Eunice Brown, Trustee, attended 3 out of 4 meetings
- Mark Lockington, Trustee, attended 3 out of 4 meetings