✨ Financial Statements Notes
NEW ZEALAND GAZETTE, No. 114
14 SEPTEMBER 2012
ASB COMMUNITY TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2012
10. RECONCILIATION OF REPORTED SURPLUS TO NET CASH FLOW FROM OPERATING ACTIVITIES
| Group | Group | Trust | Trust | |
|---|---|---|---|---|
| 2012 | 2011 | 2012 | 2011 | |
| $000 | $000 | $000 | $000 | |
| Reported (deficit)/surplus | (50,501) | 61,455 | (53,559) | 75,282 |
Add: Non-cash items
| Depreciation | 64 | 50 | 64 | 50 |
| Loss on derecognition and disposal of fixed assets | 608 | 39 | 608 | 39 |
Movements in working capital items:
| Increase in Sundry Accounts Payable | 151 | 78 | 120 | 78 |
| (Increase) in Sundry Accounts Receivable | (236) | (665) | (236) | (665) |
| (Decrease) Increase in Outstanding Grants Payable | (4,319) | 1,296 | (11,831) | 552 |
| Increase (Decrease) in Subsidiary Company Current Account | - | - | 10,651 | (13,083) |
| Net Cash Inflows from Fund Managers | 45,816 | 42,883 | 45,816 | 42,883 |
| | 41,412 | 43,582 | 44,470 | 29,765 |
| Investment income reinvested | 10,007 | (105,648) | 10,007 | (105,648) |
| Net Cash Inflow/(Outflow) from operating activities | 1,590 | (512) | 1,590 | (512) |
11. OPERATING LEASE COMMITMENTS
The Trust has entered into a lease for premises at 8 College Hill, Auckland. The lease expires on 30 September 2012. Lease rental commitments (incl Opex) to 30 September 2012 total $115,000 (to 30 June 2011 totalled: $54,000).
12. CAPITAL COMMITMENTS AND CONTINGENT LIABILITIES
Other than committed grants for the group totalling $39.1 million (2011: $43.4 million) and capital commitments to the Allendale House Remedial Works $3.1 million (2011: $1.1 million), the Trust has no other material capital commitments.
The Trust has acted as the Project Leader for the Combined Community Trusts' database project. Project costs are shared by the participating Trusts on an agreed basis. The other participating Trusts have provided loans to the Trust to meet development and implementation costs. Once the project has been completed, ownership of the database, along with loans from the participating Trusts will be transferred to a Limited Partnership. The loans will be extinguished by way of calls on capital of the Limited Partnership. It is anticipated that the Limited Partnership will be established during the 2012/13 financial year.
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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, Currency Risk, Hedging, Pricing Risk, Market Sensitivity, Portfolio Analysis, Reconciliation, Operating Activities, Operating Lease, Capital Commitments, Contingent Liabilities