✨ Financial Statements
4 SEPTEMBER 2009 NEW ZEALAND GAZETTE, No. 133 3111
Revaluation Reserves
The sole reserve is an amount of $396,976 which arose on the revaluation of a building
4 Reconciliation of Reported Surplus to Cashflow from Operating Activities
| Group 2009 $ | Group 2008 $ | |
|---|---|---|
| Surplus / (Deficit) for the Year | (7,143,843) | (3,064,553) |
Add (Less) Non Cash Items
| Depreciation | 4,088 | 5,416 |
| Changes in Investment Values | 6,792,996 | 2,150,682 |
| (346,759) | (908,455) |
Working Capital Movements
| (Increase) decrease in Investments | 600,000 | 0 |
| (Increase) decrease in Accounts Receivable | 2,680 | 13,808 |
| Increase (decrease) in Accounts Payable | (11,002) | (4,385) |
| Increase (decrease) in Donations not yet Uplifted | (138,369) | (333,979) |
| Increase (decrease) in Trust Funds held | 66 | (3,105) |
| 453,375 | (327,661) |
| Net Cash Inflow (Outflow) from Operating Activities | (106,616) | (1,236,116) |
5 Investments
The Statement of Investment Policies and Objectives states:
3.1 Given the objectives and nature of the Foundation the capital base will be invested based on the following long-term benchmark allocation and will generally be maintained within the ranges indicated. The benchmark and ranges will be reviewed as circumstances change and will be reassessed as appropriate.
3.2 The assets shall be invested according to the following table:
Long-term investment strategy (including cash holdings)
| Asset class * | Benchmark allocation | Allowable range |
|---|---|---|
| Overseas shares | 67% | 57% to 77% |
| NZ bonds and cash | 33% | 23% to 43% |
The following were the allocations as at balance date:
| 2009 | % | Allocation | |
|---|---|---|---|
| Global Equities | $16,244,947 | 62.90 | 57% to 77% |
| Bonds and Term Deposits | $9,583,513 | 37.10 | 23% to 43% |
| $25,828,460 | 100.0 |
| 2008 | % | Allocation | |
|---|---|---|---|
| Global Equities | $23,014,555 | 67.7 | 57% to 77% |
| Bonds and Term Deposits | $10,986,903 | 32.3 | 23% to 43% |
| $34,001,458 | 100.0 |
6 Property, Plant & Equipment
| 2009 | Cost | Depreciation | Revaluation | Accumulated Depreciation | Book Value | |
|---|---|---|---|---|---|---|
| Land and Buildings | 173,024 | 0 | 396,976 | 0 | 570,000 | |
| Office Equipment and Furniture | 75,138 | 4,086 | 0 | 61,202 | 13,936 | |
| 248,162 | 4,086 | 396,976 | 61,202 | 583,936 |
| 2008 | Cost | Depreciation | Revaluation | Accumulated Depreciation | Book Value | |
|---|---|---|---|---|---|---|
| Land and Buildings | 173,024 | 0 | 426,976 | 0 | 600,000 | |
| Office Equipment and Furniture | 76,940 | 5,416 | 0 | 58,916 | 18,024 | |
| 249,964 | 5,416 | 426,976 | 58,916 | 618,024 |
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NZ Gazette 2009, No 133
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Financial Statements of Whanganui Community Foundation Incorporated
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💰 Finance & RevenueFinancial Statements, Community Trusts, Whanganui Community Foundation, Accounting Policies