✨ Financial Statements
4 JULY 2011 NEW ZEALAND GAZETTE, No. 91 2575
EASTERN AND CENTRAL COMMUNITY TRUST INC
9. CASH AND CASH EQUIVALENTS
| 2011 $ | 2010 $ | |
|---|---|---|
| Current accounts | 10,454 | 6,156 |
| Call account | 860,148 | 872,628 |
| Petty cash | 164 | 63 |
| Short term deposits | 4,000,000 | 6,500,000 |
| Total cash | 4,870,766 | 7,378,847 |
10. DONATIONS
| 2011 $ | 2010 $ | |
|---|---|---|
| Standard donations | 1,625,330 | 1,720,590 |
| Special donations | 3,291,585 | 3,901,000 |
| Total community donations | 4,916,915 | 5,621,590 |
Less donations written back | (118,578) | (371,750) |
Net community donations | 4,798,337 | 5,249,840 |
Total of donations payable at year end was $1,318,130 ($1,904,930 – 2010). Included in donations payable was $1,169,490 ($1,348,400 – 2010) of donations, which are subject to the applicants fulfilling certain conditions.
11. RECONCILIATION OF NET SURPLUS WITH OPERATING CASH FLOWS
| 2011 $ | 2010 $ | |
|---|---|---|
| Net gain/(deficit) for the period | 4,821,483 | 24,004,274 |
| Adjust for non-cash items: | ||
| Unrealised loss/(gain) on investments | (1,564,009) | (19,842,020) |
| Depreciation | 12,335 | 10,607 |
| Movements in net current assets: | ||
| Accrued income | 75,557 | (119,645) |
| Current liabilities excluding donations | 36,538 | (77,347) |
| Donations Payable | (586,800) | 284,180 |
| Recognition of realised gains in investing activities | (340,512) | (876,868) |
Net operating cash flows | 2,454,592 | 3,383,182 |
12. CONTINGENT LIABILITIES & COMMITMENTS
Commitments
The Trust has entered into an agreement with 10 other Community Trusts to contribute to the cost of new software. It is expected that the Trust will pay approximately $110,000 during the next financial year towards this ($110,000 – 2010).
Lease commitments
| 2011 $ | 2010 $ | |
|---|---|---|
| Less than 1 year | 61,590 | 50,209 |
| 1 – 5 years | 246,359 | 200,836 |
| Over 5 years | 15,397 | 62,761 |
| Total | 323,346 | 313,806 |
The lease on the present Westerman’s premises commenced on 1st July 2004 and expires on 30th June 2016. The rent payable has been reviewed at the conclusion of the second and fourth years and the rental was adjusted in accordance to any increase in the consumer price index.
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NZ Gazette 2011, No 91
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Eastern and Central Community Trust Financial Statements
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💰 Finance & RevenueFinancial Statements, Community Trusts, Eastern and Central, Revenue, Expenses, Profit, Investments, Bonds, Equities, Plant & Equipment, Cash, Donations, Reconciliation, Surplus, Cash Flows, Contingent Liabilities, Commitments, Lease