✨ Financial Statements
WELLINGTON COMMUNITY TRUST
Notes to the Financial Statements
For the Twelve Months Ended 31 March 2012
8. Held-to-Maturity Investments
| 2012 | 2011 | |
|---|---|---|
| ASB Term Deposit - 083 | 236,062 | 445,630 |
| ASB Term Deposit - 084 | 255,671 | 500,000 |
| ASB Term Deposit - 085 | 500,000 | - |
| ASB Term Deposit - 086 | 1,000,000 | - |
| BNZ Term Deposit - 03038 | 664,334 | 637,407 |
| BNZ Term Deposit - 03040 | - | 250,000 |
| BNZ Term Deposit - 03041 | 461,983 | 588,964 |
| BNZ Term Deposit - 03042 | 500,000 | - |
| BNZ Term Deposit - 03043 | 302,611 | - |
| Kiwibank Term Deposit | 1,011,385 | - |
Total Held-to-Maturity Investments | 4,932,046 | 2,422,001
9. Loans and Receivables
| 2012 | 2011 | |
|---|---|---|
| Karori Sanctuary Trust | ||
| Current Portion | 100,000 | 100,000 |
| Term Portion | 733,334 | 833,334 |
Total Karori Sanctuary Trust | 833,334 | 933,334
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 6.50%-7.05%.
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.
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NZ Gazette 2012, No 81
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Notes to the Financial Statements for Wellington Community Trust
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💰 Finance & RevenueFinancial Instruments, Investments, Loans, Accounting Policies