New Zealand Gazette – 2011 – No. 101

Page 2912

✨ Financial Statements



Otago Community Trust

Notes to the financial statements

in New Zealand Dollars (000's)

5 Revenue

Group Parent
2011 2010 2011 2010
Rents received 118 122 - -
Managed Fund income
- Interest 164 271 213 346
- Investment income 16,218 37,185 16,218 37,185
- Impairment loss - (652) - (652)
Other 16 18 28 28
Total revenue 16,516 36,944 16,459 36,907

6 Other income

Group Parent
2011 2010 2011 2010
Change in fair value of investment property (50) (10) - -
Net gain on sale of property, plant and equipment - - - -
Total other income (50) (10) - -

7 Investment fees

Group Parent
2011 2010 2011 2010
Fund manager fees 24 432 24 432
Investment advisory fees 111 85 111 85
Total investment fees 135 517 135 517

The Trust incurs fund manager fees on its investments. However, as the Trust has shifted its investments entirely to pooled funds and income from pooled funds is disclosed net of fund manager fees, actual fund manager fees reported as an expense has reduced considerably.

8 Other expenses

Group Parent
2011 2010 2011 2010
Public and statutory reporting 20 20 20 20
Auditors remuneration (analysis below) 12 18 12 18
Promotion 17 17 17 17
Depreciation 6 4 6 4
Professional fees (analysis below) 62 51 62 51
Property costs 150 70 59 65
Salaries 346 303 346 303
Other operating 133 100 124 91
Net finance costs - - - -
Trustee remuneration 134 142 134 142
Trustee expenses 30 39 30 39
Total other expenses 910 764 810 750

Auditor's remuneration to Poison Higgs:

Group Parent
2011 2010 2011 2010
- audit of financial statements 12 11 12 11
- HR consulting - 7 - 7
Total auditor's remuneration 12 18 12 18


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Online Sources for this page:

Gazette.govt.nz — PDF NZ Gazette 2011, No 101




✨ LLM interpretation of page content

💰 Otago Community Trust Financial Statements for 2011 (continued from previous page)

💰 Finance & Revenue
Financial Statements, Revenue, Other Income, Investment Fees, Other Expenses, Auditor's Remuneration