✨ Community Trust Annual Report
THE COMMUNITY TRUST OF MID & SOUTH CANTERBURY INC
CHAIRPERSON’S REPORT
FOR THE YEAR ENDED 31 MARCH 2012
FINANCIAL POSITION
As economic and political uncertainties continued to affect the global financial markets, the value of the Trust’s assets fluctuated over the course of the year. As at the 31st of March 2012, the Trust’s net assets were valued at $42,494,326 and there was a loss in value over most of the investment asset classes. The lower value of the Trust assets was also partly attributable to the investment income being lower than forecast and the $500,000 donation to the Ashburton Stadium Trust which resulted in the Trust exceeding the Donation Budget set for the 2011/2012 year.
With the respected advice of Michael Chamberlain from MCA Limited (Investment Advisors), the Trust’s investment strategies and objectives are regularly reviewed to ensure that the Trust is well placed to cope with the turbulent times that continue to affect investors. We also greatly appreciate the accounting services of Paul Wolffenbuttel from HC Partners LP.
TRUSTEES
It was with great sadness that the Trust marked the death of Trevor Linyard who served as a Trustee for four years until illness resulted in his resignation Trevor’s warmth and compassion are still greatly missed.
Peter Dalziel, having completed two four year terms, finished his trusteeship in mid 2011. Respected for presenting well thought out papers at Board meetings, providing astute and informed comment on investment matters and for initiating the introduction of Volunteering Mid and South Canterbury to our region, Peter’s wit and his valuable contribution to the work of the Trust were greatly appreciated.
The Trust welcomed two new Trustees in June 2011 – Jenifer Strauss and Maarten Dirkzwager – both South Canterbury lawyers.
STAFF
Following John Wilson’s move to take up a management position with the South Canterbury District Health Board, the Trust welcomed Liz Shea (CEO) and Clive Callow (Community Relations Manager) to the Trust staff. The assistance of John Wilson and Sally Marsh – our Office Administrator – during the transition period was much appreciated.
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NZ Gazette 2012, No 100
✨ LLM interpretation of page content
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Financial Statements of The Community Trust of Mid & South Canterbury Inc
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💰 Finance & RevenueFinancial statements, Community Trusts Act 1999, Mid & South Canterbury
10 names identified
- Michael Chamberlain, Investment Advisor
- Paul Wolffenbuttel, Accounting services
- Trevor Linyard, Deceased Trustee
- Peter Dalziel, Completed trusteeship
- Jenifer Strauss, New Trustee
- Maarten Dirkzwager, New Trustee
- John Wilson, Moved to new position
- Liz Shea, New CEO
- Clive Callow, New Community Relations Manager
- Sally Marsh, Office Administrator