✨ Trust Financial Statements
West Coast Community Trust
Statement of Accounting Policies & Notes
for the Year Ended 31 March 2011
Trustee Attendance - Meetings
| Name of Trustee | Board Meetings Held | Board Meetings Attended | Honorarium and Meeting Fees |
|---|---|---|---|
| Dennis Straker | 3 | 3 | 4,837 |
| Mark Lookington | 3 | 2 | 2,268 |
| John Sturgeon | 3 | 3 | 2,100 |
| Rowan Sullivan | 3 | 3 | 2,100 |
| Anthony Sullivan | 3 | 3 | 2,100 |
| Carol Keoghan | 3 | 3 | 2,100 |
| Mary Molloy | 3 | 3 | 1,767 |
| Elizabeth Rock | 3 | 2 | 1,675 |
| Eunice Brown | 1 | 1 | 1,425 |
| Peter Kerridge | 0 | 0 | 1,223 |
| Barbara Greer | 2 | 2 | 675 |
Total remuneration paid in the year ended 31 March 2011 $22,270
Rates of remuneration, including honoraria and meeting fees, are set by the Minister of Finance.
The Trust has also insured all trustees against liability to other parties that may arise from their position as trustees, excluding liability for gross negligence or criminal actions.
Appointment and Retirement
Eunice Brown Resigned on 31 May 2010 and Barbara Greer was Appointed on 1 June 2010. Peter Kerridge resigned on 30 September 2009 therefore the Honorarium was apportioned to him for the number of months he was Chairman.
7. TRUST FUNDS
Although the trust does not maintain an inflation reserve, it does seek to maintain the trust capital in real terms.
The trust calculates that an amount of $1,961,243 is required to be retained to stabilise the original $3m fund from inflation. The trusts current retained earnings is $2,525,455 which leaves $564,212 as the growth of the trust in real terms.
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NZ Gazette 2011, No 128
✨ LLM interpretation of page content
💰
West Coast Community Trust Financial Statements
(continued from previous page)
💰 Finance & RevenueFinancial Statements, Community Trust, West Coast, Income, Expenses, Assets, Liabilities
11 names identified
- Dennis Straker, Trustee
- Mark Lookington, Trustee
- John Sturgeon, Trustee
- Rowan Sullivan, Trustee
- Anthony Sullivan, Trustee
- Carol Keoghan, Trustee
- Mary Molloy, Trustee
- Elizabeth Rock, Trustee
- Eunice Brown, Resigned as Trustee
- Peter Kerridge, Resigned as Trustee
- Barbara Greer, Appointed as Trustee