✨ Financial Statements
14 SEPTEMBER 2012 NEW ZEALAND GAZETTE, No. 114 3277
ASB COMMUNITY TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2012
Outstanding Grants Payable
| Outstanding Grants Payable | Group | Trust | ||
|---|---|---|---|---|
| 2012 | 2011 | 2012 | 2011 | |
| $000 | $000 | $000 | $000 | |
| Grants Committed in previous years | 15,597 | 16,128 | 3,896 | 6,574 |
| Grants Committed but unpaid this year | 23,478 | 27,266 | 5,698 | 14,901 |
| Total Grants outstanding as at 31 March | 39,075 | 43,394 | 9,594 | 21,475 |
Reconciliation of Outstanding Grants Payable
| Reconciliation of Outstanding Grants Payable | Group | Trust | ||
|---|---|---|---|---|
| 2012 | 2011 | 2012 | 2011 | |
| $000 | $000 | $000 | $000 | |
| Opening Balance at 1 April | 43,394 | 42,098 | 21,475 | 20,923 |
| Plus: Grants Committed during year | 36,624 | 40,855 | 39,449 | 27,288 |
| Less: Transfer to ASB Community Trust Charitable Purposes Limited Current Account | - | - | (25,272) | - |
| Less: Grants Paid to community groups | (40,207) | (39,489) | (25,994) | (26,710) |
| Less: Grants Written Back | (736) | (70) | (64) | (26) |
| Closing Balance at 31 March | 39,075 | 43,394 | 9,594 | 21,475 |
Committed but unpaid Grants are recognised as liabilities on approval by the Board of Trustees or the directors of the Company. At balance date Committed but unpaid Grants totalled $39.1 million (2011: $43.4 million) for the Group and $9.6 million (2011: $21.5 million) for the Trust. The timing for the payment of these Grants is uncertain.
Committed but unpaid grants at 31 March 2012 had the following profile:
| Financial Year Approved | Number of Group Grants Outstanding | Value of Group Grants Outstanding | Number of Trust Grants Outstanding | Value of Trust Grants Outstanding |
|---|---|---|---|---|
| $000 | $000 | |||
| 2007 | 3 | $568 | 3 | $568 |
| 2008 | - | - | - | - |
| 2009 | 1 | $25 | 1 | $25 |
| 2010 | 8 | $5,513 | - | - |
| 2011 | 63 | $9,491 | 47 | $3,303 |
| 2012 | 182 | $23,478 | 86 | $5,698 |
| Total | 257 | $39,075 | 137 | $9,594 |
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NZ Gazette 2012, No 114
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Notes to the Financial Statements of ASB Community Trust
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💰 Finance & RevenueFinancial Statements, Investments, Grants, Fund Managers, Pooled Funds, Community Groups