β¨ Financial Statements Notes
3348 NEW ZEALAND GAZETTE, No. 119 5 AUGUST 2011
THE WAIKATO COMMUNITY TRUST INCORPORATED
NOTES TO AND FORMING PART OF THE FINANCIAL STATEMENTS
For the year ended 31 March 2011
Property (note 10)
| 2011 | 2010 | |
|---|---|---|
| NZ'000 | NZ'000 | |
| 25,550 |
Denominated in the following currencies:
Australian dollar equivalents
| 2011 | |
|---|---|
| 25,550 |
Alternatives (note 10)
| 2011 | 2010 | |
|---|---|---|
| NZ'000 | NZ'000 | |
| 1,851 |
Denominated in the following currencies:
Australian dollar equivalents
| 2011 | |
|---|---|
| 1,851 |
Forward Foreign Exchange Contracts
The Trust manages its foreign exchange risk by using a separate currency overlay or investing in a hedged pool to cover 100% of its foreign currency exposures. Such forward exchange contracts have the economic effect of converting foreign currency denominated balances into New Zealand Dollars. These forward exchange contracts are not treated as hedges for accounting purposes.
The following table details the forward foreign currency contracts outstanding at reporting date.
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Notes to Financial Statements of the Waikato Community Trust
(continued from previous page)
π° Finance & RevenueFinancial Statements, Property, Alternatives, Foreign Exchange Contracts, Currency Overlay, Hedging, Accounting Policies
NZ Gazette 2011, No 119