✨ Financial Statements and Notes
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NEW ZEALAND GAZETTE, No. 101
13 AUGUST 2010
THE WAIKATO COMMUNITY TRUST INCORPORATED
NOTES TO AND FORMING PART OF THE FINANCIAL STATEMENTS
For the year ended 31 March 2010
14. RECONCILIATION OF SURPLUS (DEFICIT) FOR THE PERIOD TO NET CASH FLOWS FROM OPERATING ACTIVITIES
| 2010 | 2009 | |
|---|---|---|
| NZ$'000 | NZ$'000 | |
| SURPLUS (DEFICIT) FOR THE YEAR | 36,415 | (32,743) |
| Adjust for non-cash items: | ||
| Profit on Sale of Property, Plant and Equipment | - | (8) |
| Depreciation | 83 | 96 |
| Investment movement ** | (45,011) | 23,043 |
| Fair Value Adjustment on Initial Recognition of the Interest Free Loan | - | 525 |
| Notional Interest on Interest Free Loan | (93) | (53) |
| (45,021) | 23,603 | |
| Impact of changes in net assets and liabilities: | ||
| (Increase) decrease in Trade & Other Receivables | 7 | 20 |
| Increase (decrease) in Trade & Other Payables | 44 | (52) |
| Increase (decrease) in Donations Payable | 57 | (1,071) |
| Increase (decrease) in Employee Entitlements | 7 | (1) |
| 115 | (1,104) | |
| Net cash inflow from operating activities | (8,491) | (10,244) |
**The investment movement relates to realised/unrealised gains/losses, interest, dividends and management fees. These items, while recognised by the Trust, were not physically received or paid during the year. These have been treated as contributions/withdrawals to/from the investments.
15. FINANCIAL INSTRUMENTS
Financial Risk Management
The Trust's activities expose it to a variety of financial risks: market risk (including currency risk, fair value interest rate risk, cash flow interest rate risk and equity price risk), credit risk and liquidity risk.
The Trust has policies to manage the risks associated with financial instruments. The Trust is risk averse and seeks to minimise exposure from its treasury activities. The Trust has established investment policies. These policies do not allow any transactions that are speculative in nature to be entered into.
Market Risk
The Trust's activities expose it primarily to the financial risks of changes in foreign currency exchange rates, interest rates and equity prices.
There has been no change to the Trust's exposure to market risks or in the manner it manages and measures the risk.
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NZ Gazette 2010, No 101
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Financial Statements of the Waikato Community Trust
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🏢 State Enterprises & InsuranceFinancial Statements, Loans, Capital Commitments, Contingent Liabilities