✨ Financial Statements
18 AUGUST 2010 NEW ZEALAND GAZETTE, No. 104 2791
Notes to the financial statements (continued)
in New Zealand Dollars ($000's)
10 Taxation
Bay of Plenty Community Trust Inc is exempt from income tax with effect 1 April 2008, under section CW 52 of the Income Tax Act 2007
11 Cash and cash equivalents
| 2010 | 2009 | |
|---|---|---|
| Bank balances | 168 | 158 |
| Call deposits | 49 | 57 |
| Cash and cash equivalents | 217 | 215 |
12 Trust Funds
| Trust Capital | Retained Earnings / (Deficit) | Income Fluctuation Reserve | Inflation & Population Growth Reserve | Total | |
|---|---|---|---|---|---|
| Balance at 1 April 2008 | 89,308 | - | 12,087 | 31,167 | 132,562 |
| Total recognised income and expense | - | (20,475) | - | - | (20,475) |
| Distributions in the form of grants | - | (2,650) | - | - | (2,650) |
| Reserves transfers | - | 6,846 | (12,087) | 5,241 | - |
| Balance at 31 March 2009 | 89,308 | (16,279) | - | 36,408 | 109,437 |
| Balance at 1 April 2009 | 89,308 | (16,279) | - | 36,408 | 109,437|
| Total recognised income and expense | - | 29,146 | - | - | 29,146 |
| Distributions in the form of grants | - | (1,365) | - | - | (1,365) |
| Reserves transfers | - | (11,502) | 9,113 | 2,389 | - |
| Balance at 31 March 2010 | 89,308 | - | 9,113 | 38,797 | 137,218|
Income Fluctuation Reserve
The Income Fluctuation Reserve relates to a capital maintenance reserve established and maintained at the trustees' discretion.
Inflation & Population Growth Reserve
The Inflation & Population Growth Reserve relates to a capital maintenance reserve based on an inflation factor (CPI) and as income permits, adjustments for population growth in the region.
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NZ Gazette 2010, No 104
✨ LLM interpretation of page content
💰
BayTrust Annual Report for the year ended 31 March 2010
(continued from previous page)
💰 Finance & RevenueFinancial statements, Revenue, Expenses, Grants, Investments, Taxation, Cash, Trust Funds