New Zealand Gazette – 2011 – No. 91

Page 2583

✨ Community Trust Financial Report



4 JULY 2011 NEW ZEALAND GAZETTE, No. 91 2583

EASTERN AND CENTRAL COMMUNITY TRUST INC

The effect on the Trust’s statement of comprehensive income and balance sheet as at 31st March 2010, due to a possible change in market factors is represented in the following table:

| Financial Asset | Sensitivity Range
(-1 to +1 Standard Deviations) | Sensitivity Impact
$'000 |
|----------------------------|-----------------------------------------------|-------------------------|
| NZ/Australian Equities | -10.6% to 27.6% | -2,820 to 7,325 |
| NZ Bonds | 2.7% to 12.8% | 1,353 to 6,445 |
| NZ Cash | 4.4% to 7.1% | 333 to 536 |
| Overseas Equities | -9.0% to 27.0% | -4,076 to 12,237 |
| Overseas Bonds | 3.1% to 12.9% | 335 to 1,382 |
| Property | -7.9% to 23.9% | -113 to 340 |
| Total Portfolio | -3.5% to 19.9% | -1,081 to 7,112 |

There is a 68% probability that the return in any one year will be within the range -3.5% to 19.9%.

These sensitivity analyses are based on the volatility of each asset class and the investment portfolio as a whole, as measured by plus or minus one standard deviation.

The overall effect of the Trust’s diversified portfolio of uncorrelated financial assets is to reduce volatility and stabilise investment returns over time.

Fair Value Hierarchy

The table below analyses financial instruments carried at fair value, by valuation method. All assets are categorised as level 1, which are financial instruments with quoted prices (unadjusted) in active markets.

Financial Asset at 31 March 2011 $ at 31 March 2010 $
Financial assets held for trading 140,700,077 133,488,732
Derivative financial assets - 809,262
Total Assets 140,700,077 134,297,994

There were no transfers between levels during the year.

15. TRUSTEES’ ATTENDANCE AND REMUNERATION

Trustees’ remuneration for meeting attendance and an annual honorarium is set by the Minister of Finance. Trustees are also reimbursed for travel costs. Details of the Trustees’ attendance and remuneration are:

Attendance Record & Fees of Trustees

| Trustee | Two Day Trust
Meetings attended | Committee
Meetings attended | Fees |
|-------------------------|---------------------------|-------------------------------|-------------|
| Bev Edlin | 6 of 6 | 14 of 14 | 12,460 |
| Beverley Fullerton-Smith| 6 of 6 | 13 of 13 | 15,032 |
| Ron Garrod | 5 of 6 | 15 of 16 | 13,210 |
| John Gordon | 6 of 6 | 16 of 17 | 14,414 |
| Claire Matthews | 6 of 6 | 23 of 24 | 27,392 |
| Kaye McAulay | 6 of 6 | 13 of 15 | 12,188 |
| Margaret Millard | 5 of 6 | 5 of 7 | 8,290 |
| Bruce Mills | 6 of 6 | 6 of 6 | 9,880 |
| Keith Moreta | 5 of 6 | 6 of 6 | 9,932 |
| Jane Poa | 2 of 2 | 2 of 2 | 4,490 |
| Mere Pohatu | 1 of 1 | 1 of 2 | 1,742 |
| Caren Rangi | 5 of 5 | 3 of 4 | 8,354 |
| Robyn Rauna | 5 of 6 | 6 of 7 | 10,090 |
| Total Fees | | | 147,474|



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Online Sources for this page:

Gazette.govt.nz — PDF NZ Gazette 2011, No 91




✨ LLM interpretation of page content

💰 Eastern and Central Community Trust Financial Statements (continued from previous page)

💰 Finance & Revenue
Financial Statements, Community Trusts, Eastern and Central, Revenue, Expenses, Profit, Investments, Bonds, Equities, Plant & Equipment, Cash, Donations, Reconciliation, Surplus, Cash Flows, Contingent Liabilities, Commitments, Lease, Financial Instruments, Risks, Credit Risk, Liquidity Risk, Market Risk, Currency Risk, Interest Rate Risk, Pricing Risks, Fair Value, Asset Allocation, Statement of Investment Policies and Objectives, SIPO, Corporate Bonds, Cash, Forward Foreign Exchange Contracts, Foreign Exchange Risk, NZ Dollars, Bank of New Zealand, Standard and Poor's Rating, Australian Dollars, Euros, British Pounds, Japanese Yen, US Dollars, Buy Amount, Deal Rate, Valuation Rate, Gain/Loss, Liquidity Risk, Trade and Other Payables, Committed but Unpaid Donations, Sensitivity Analysis, Fixed Rate Instruments, Variable Rate Instruments, Cash Flow Sensitivity, Pricing Risk, NZ/Australian Equities, NZ Bonds, NZ Cash, Overseas Equities, Overseas Bonds, Property, Total Portfolio, Probability, Return
13 names identified
  • Bev Edlin, Trustee attendance and remuneration
  • Beverley Fullerton-Smith, Trustee attendance and remuneration
  • Ron Garrod, Trustee attendance and remuneration
  • John Gordon, Trustee attendance and remuneration
  • Claire Matthews, Trustee attendance and remuneration
  • Kaye McAulay, Trustee attendance and remuneration
  • Margaret Millard, Trustee attendance and remuneration
  • Bruce Mills, Trustee attendance and remuneration
  • Keith Moreta, Trustee attendance and remuneration
  • Jane Poa, Trustee attendance and remuneration
  • Mere Pohatu, Trustee attendance and remuneration
  • Caren Rangi, Trustee attendance and remuneration
  • Robyn Rauna, Trustee attendance and remuneration