✨ Financial Statements
NEW ZEALAND GAZETTE, No. 117
14 SEPTEMBER 2010
ASB COMMUNITY TRUST
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2010
5. GRANTS
5.1 Committed during this year
| Consolidated 2010 $000 | Parent 2010 $000 | Parent 2009 $000 | |
|---|---|---|---|
| Committed and disbursed | 7,213 | — | — |
| Committed but unpaid | 9,091 | 68,600 | 19,707 |
| Total Grants approved and committed this year | 16,304 | 68,600 | 33,643 |
5.2 Outstanding Grants Payable
Outstanding Grants Payable
| 2010 $000 | 2010 $000 | 2009 $000 | |
|---|---|---|---|
| Committed in previous years | 33,007 | 20,923 | 45,415 |
| Committed but unpaid this year | 9,091 | — | 19,936 |
| Total Grants outstanding as at 31 March 2010 | 42,098 | 20,923 | 65,351 |
Reconciliation of Outstanding Grants
| 2010 $000 | 2010 $000 | 2009 $000 | |
|---|---|---|---|
| Opening Balance at 1 April | 65,351 | 65,351 | 80,680 |
| Less: Transfer to ASB Community Trust Charitable Purposes Limited Current Account | — | (60,684) | — |
| Plus: Grants committed during year | 16,304 | 68,600 | 33,643 |
| Less: Grants paid to community organisations | (35,775) | (28,562) | (43,197) |
| Grants Written Back | (3,782) | (3,782) | (5,775) |
| Closing Balance 31 March | 42,098 | 20,923 | 65,351 |
Committed but unpaid grants are recognised as liabilities pending the satisfaction of conditions under which the grant was made. At balance date Committed but unpaid Grants totalled $42.1 million (2009: $65.3 million) for the consolidated group and $20.9 million (2009: $65.3 million) for the parent trust. The timing of the payment of these Grants is uncertain.
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NZ Gazette 2010, No 117
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ASB Community Trust Financial Statements
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💰 Finance & RevenueFinancial statements, Community Trusts, ASB Community Trust, Grants, Committed Grants, Outstanding Grants, Grants Payable, Grant Reconciliation, Liabilities