✨ Financial Statements Notes
6 JULY 2011 NEW ZEALAND GAZETTE, No. 94 2769
THE COMMUNITY TRUST OF WELLINGTON
Notes to the Financial Statements
For the Twelve Months Ended 31 March 2011
9. Loans and Receivables
| 2011 | 2010 | |
|---|---|---|
| Karori Wildlife Sanctuary Trust Inc | ||
| Current Portion | 100,000 | 100,000 |
| Term Portion | 833,334 | 933,333 |
| Total Karori Wildlife Sanctuary Trust Inc | 933,334 | 1,033,333 |
The Loan is guaranteed by the Wellington City Council. The loan has a repayment term of 15 years which commenced on 1 August 2005. The interest rate is calculated against an agreed formula. The rate for the year under review was 6.5%-6.6%.
10. Financial Instruments
Significant accounting policies
Details of significant accounting policies and methods adopted, including the criteria for recognition and the basis of measurement applied in respect of each of the class of financial assets are disclosed in note 1 to the financial statements.
The Trustees have approved a Statement of Investment Policy and Objectives (SIPO) which establishes investment portfolio objectives and target asset allocations. Performance against these targets is reviewed at least quarterly by the Trustees and asset reallocations undertaken as required.
Fair Value
The carrying amount of financial assets and financial liabilities recorded in the financial statements represents their respective fair values, determined in accordance with the Trust’s accounting policies.
Liquidity Risk
All financial assets at fair value through profit and loss can be realised within 12 months. There are no significant financial liabilities.
The Trust’s investments are managed to ensure that the Trust will have sufficient liquidity to meet expected cashflow requirements. Liquidity risk is managed through the Trust’s asset allocation strategy, which provides exposure to both growth and income assets, and the benchmark portfolio against which investment returns are monitored. The Trust’s benchmarks are maintained through rebalancing between investment managers to bring the weights to benchmark.
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NZ Gazette 2011, No 94
✨ LLM interpretation of page content
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Notes to the Financial Statements of The Community Trust of Wellington
(continued from previous page)
💰 Finance & Revenue3 June 2011
Financial Statements, Loans, Receivables, Karori Wildlife Sanctuary Trust Inc, Financial Instruments, Accounting Policies, Fair Value, Liquidity Risk, Wellington