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New Zealand Gazette – 2012 – No. 82

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✨ Financial Statements

6 JULY 2012 NEW ZEALAND GAZETTE, No. 81 2231

Otago Community Trust

Notes to the financial statements

in New Zealand Dollars (000's)

5 Revenue

	Group		Parent
	2012	2011	2012	2011
Rents received	120	118	-	-
Managed Fund income
- Interest	41	164	93	213
- Investment income and unrealised gain / (loss)	13,113	16,218	13,113	16,218
- (Impairment loss)	-	-	-	-
Other	5	16	15	28
Total revenue	13,279	16,516	13,221	16,459

6 Other income

	Group		Parent
	2012	2011	2012	2011
Change in fair value of investment property	(10)	(50)	-	-
Net gain on sale of property, plant and equipment	-	-	-	-

7 Investment fees

	Group		Parent
	2012	2011	2012	2011
Fund manager fees	-	24	-	24
Investment advisory fees	98	111	98	111
	98	135	98	135

The Trust incurs fund manager fees on its investments. However, as the Trust has shifted its investments entirely to pooled funds and income from pooled funds is disclosed net of fund manager fees, actual fund manager fees reported as an expense has reduced considerably.

8 Other expenses

	Group		Parent
	2012	2011	2012	2011
Public and statutory reporting	18	20	18	20
Auditors remuneration (analysis below)	13	12	13	12
Promotion	15	17	15	17
Depreciation	13	6	13	6
Professional fees (analysis below)	87	62	82	62
Property costs	114	150	67	59
Salaries	390	346	390	346
Other operating	115	133	105	124
Trustee remuneration	118	134	118	134
Trustee expenses	26	30	26	30
Total other expenses	909	910	847	810

Auditor's remuneration to Deloitte (2011: Polson Higgs):

audit of financial statements | 13 | 12 | 13 | 12 |
HR consulting | - | - | - | - |

Total auditor's remuneration | 13 | 12 | 13 | 12 |

Gazette.govt.nz — NZ Gazette 2012, No 82

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✨ LLM interpretation of page content

💰 Otago Community Trust Financial Statements (continued from previous page)

Domain💰 Finance & Revenue
KeywordsFinancial Statements, Revenue, Other Income, Investment Fees, Other Expenses, Auditors Remuneration, Trustee Remuneration

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