✨ Financial Statements
17 AUGUST 2011
NEW ZEALAND GAZETTE, No. 126
3483
year sufficient sums from Reserves to increase the Trust Capital by the annual rate of inflation as measured by the Consumer Price Index and the rate of population growth in the region served by the Foundation.
Revaluation Reserves
The sole reserve is an amount of $396,976 which arose on the revaluation of a building.
4
Reconciliation of Reported Surplus to Cashflow from Operating Activities
| Group 2011 $ | Group 2010 $ | |
|---|---|---|
| Surplus / (Deficit) for the Year | 1,511,166 | 5,299,540 |
Add (Less) Non Cash Items
| | | |
| Depreciation | 5,077 | 3,544 |
| Changes in Investment Values| (1,499,371) | (5,643,412) |
Working Capital Movements
| | | |
| (Increase) decrease in Accounts Receivable | 14,681 | 50,507 |
| Increase (decrease) in Accounts Payable | (1,918) | 12,293 |
| Increase (decrease) in Donations not yet Uplifted | (97,715) | (155,522) |
| Increase (decrease) in Trust Funds held | (3,379) | (17,602) |
| | (88,331) | (110,323) |
Fixed Asset Movements
| | | |
| (Increase) decrease in Fixed Assets | (7,828) | (5,723) |
| (Increase) decrease in Loans | 36,913 | (486,913) |
|-------------------------------------|-----------|---------------|
| Net Cash Inflow (Outflow) from Operating Activities | (42,384) | 943,288 |
5
Investments
The Statement of Investment Policies and Objectives states:
3.1 Given the objectives and nature of the Foundation the capital base will be invested based on the following long-term benchmark allocation and will generally be maintained within the ranges indicated. The benchmark and ranges will be reviewed as circumstances change and will be reassessed as appropriate.
3.2 The assets shall be invested according to the following table:
| Asset class | Benchmark Allocation | Allowable range |
|---|---|---|
| Overseas shares | 67% | 57% to 77% |
| NZ bonds and cash | 33% | 23% to 43% |
The following were the allocations as at balance date:
| 2011 $ | % | Allocation | |
|---|---|---|---|
| Global Equities | 23,556,052 | 72.4 | 57% to 77% |
| Bonds and Term Deposits | 8,975,191 | 27.6 | 23% to 43% |
| 32,531,243 | 100.0 |
| 2010 $ | % | Allocation | |
|---|---|---|---|
| Global Equities | 21,502,981 | 67.1 | 57% to 77% |
| Bonds and Term Deposits | 10,556,021 | 32.8 | 23% to 43% |
| 32,059,002 | 100.0 |
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Property, Plant & Equipment
| 2011 | Cost | Depreciation | Revaluation | Accumulated Depreciation | Book Value |
|---|---|---|---|---|---|
| Land and Buildings | 173,024 | 0 | 396,976 | 0 | 570,000 |
| Office Equipment and Furniture | 93,026 | 5,077 | 0 | 74,150 | 18,876 |
| 266,050 | 5,077 | 396,976 | 74,150 | 588,876 |
| 2010 | Cost | Depreciation | Revaluation | Accumulated Depreciation | Book Value |
|---|---|---|---|---|---|
| Land and Buildings | 173,024 | 0 | 396,976 | 0 | 570,000 |
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NZ Gazette 2011, No 126
✨ LLM interpretation of page content
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Whanganui Community Foundation Incorporated Financial Statements
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🏢 State Enterprises & InsuranceFinancial Statements, Accounting Policies, Financial Assets, Impairment, Taxation, GST, Employee Benefits, Grants, Trust Funds, Revaluation Reserves, Reconciliation, Surplus, Deficit, Non Cash Items, Working Capital Movements, Fixed Asset Movements, Investments, Property, Plant & Equipment