✨ Financial Statements
NEW ZEALAND GAZETTE, No. 172
9 NOVEMBER 2011
4879
ASB COMMUNITY TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2011
5. GRANTS
5.1 Committed during this year
| Group 2011 $000 | Group 2010 $000 | Trust 2011 $000 | Trust 2010 $000 | |
|---|---|---|---|---|
| Committed and disbursed | 13,589 | 7,213 | 12,387 | 68,600 |
| Committed but unpaid | 27,266 | 9,091 | 14,901 | - |
| Total Grants approved and committed this year | 40,855 | 16,304 | 27,288 | 68,600 |
5.2 Outstanding Grants Payable
| Outstanding Grants Payable | Group 2011 $000 | Group 2010 $000 | Trust 2011 $000 | Trust 2010 $000 |
|---|---|---|---|---|
| Committed in previous years | 16,128 | 33,007 | 6,574 | 20,923 |
| Committed but unpaid this year | 27,266 | 9,091 | 14,901 | - |
| Total Grants outstanding as at 31 March 2011 | 43,394 | 42,098 | 21,475 | 20,923 |
| Reconciliation of Outstanding Grants | Group 2011 $000 | Group 2010 $000 | Trust 2011 $000 | Trust 2010 $000 |
|---|---|---|---|---|
| Opening Balance at 1 April | 42,098 | 65,351 | 20,923 | 65,351 |
| Less: Transfer to ASB Community Trust Charitable Purposes Limited Current Account | - | - | - | (80,684) |
| Plus: Grants committed during year | 40,855 | 16,304 | 27,288 | 68,600 |
| Less: Grants paid to community organisations | (39,489) | (35,775) | (26,710) | (28,562) |
| Grants Written Back | (70) | (3,782) | (26) | (3,782) |
| Closing Balance at 31 March 2011 | 43,394 | 42,098 | 21,475 | 20,923 |
Committed but unpaid grants are recognised as liabilities pending the satisfaction of conditions under which the grant was approved. At balance date Committed but unpaid Grants totalled $43.4 million (2010: $42.1 million) for the Group $21.5 million (2010: $20.9 million) for the Trust. The timing for the payment of these Grants is uncertain.
Committed but unpaid grants at 31 March 2011 had the following profile:
| Financial Year Approved | Number of Group Grants Outstanding | Value of Group Grants Outstanding $000 | Number of Trust Grants Outstanding | Value of Trust Grants Outstanding $000 |
|---|---|---|---|---|
| 2007 | 5 | $4,179 | 5 | $4,179 |
| 2008 | - | $0 | - | $0 |
| 2009 | 3 | $2,771 | 3 | $2,395 |
| 2010 | 38 | $9,178 | - | - |
| 2011 | 408 | $27,266 | 372 | $14,901 |
| Total | 454 | $43,394 | 380 | $21,475 |
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NZ Gazette 2011, No 172
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ASB Community Trust Financial Statements
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💰 Finance & Revenue30 May 2011
Financial Statements, ASB Community Trust, Grants, Committed, Outstanding, Disbursed, Unpaid