New Zealand Gazette – 2012 – No. 105

Page 3029

✨ Financial Statements Notes



29 AUGUST 2012 NEW ZEALAND GAZETTE, No. 105 3029

THE COMMUNITY TRUST OF SOUTHLAND

NOTES TO THE FINANCIAL STATEMENTS

For the Year Ended 31 March 2012

Group Parent
2012 2011 2012 2011
$000 $000 $000 $000

4. ADMINISTRATION EXPENSES

Included in Administration Expenses are the following:

Auditors fees:
Audit fees paid or payable to the auditors as follows:

  • Audit of the financial statements 40 41 28 29

  • Other services - Deloitte 31 17 - 8

                  $71     $58     $28     $37

5. GRANTS

Committed and payable in the current year 9,549 8,588 3,608 3,523
Committed and not payable until future years 2,444 816 1,386 16
Transfer to Charities (3,870) -

                $11,993     $9,404      $1,124      $3,539

The Trustees have resolved that any unspent portion of the approved Grants budget for a year that remained unspent at year end would be carried forward in an “Unspent Grants Reserve”, available to be spent in future years.

6. TAXATION

Taxation expense of $74,000 (2011: $105,000) and the taxation payable due of $67,000 (2011: $54,000) relates to the subsidiary entities.

The Community Trust of Southland is exempt from Income Tax.

7. TRUST CAPITAL

Opening and closing balance $158,460 $158,460 $158,460 $158,460

                $158,460    $158,460    $158,460    $158,460

8. RESERVES

  • Capital Maintenance Reserve 39,159 38,984 65,206 64,025

  • Grants Maintenance Reserve (32,042) (24,295) (53,814) (55,566)

  • Unspent Grants Budget Reserve 570 570 570 570

                  $7,687      $15,258     $11,962     $9,029


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Gazette.govt.nz — PDF NZ Gazette 2012, No 105




✨ LLM interpretation of page content

💰 Financial Report of the Community Trust of Southland (continued from previous page)

💰 Finance & Revenue
Financial Report, Community Trust, Southland, 2012, Statements, Notes, Audit, Accounting Policies, Interest