✨ Financial Statements
6 JULY 2012 NEW ZEALAND GAZETTE, No. 81 2237
Otago Community Trust
Notes to the financial statements
in New Zealand Dollars (000’s)
17 Trade and other payables
| Group | Parent | |||
|---|---|---|---|---|
| 2012 | 2011 | 2012 | 2011 | |
| Donations payable | 1,962 | 3,937 | 1,962 | 3,937 |
| Other trade payables | 101 | 157 | 98 | 143 |
| Total | 2,063 | 4,094 | 2,060 | 4,080 |
18 Financial Instruments
The Trust has the following financial assets and liabilities:
Summary Financial Assets and Liabilities
| Financial Assets | Managed by | 2012 | 2011 |
|---|---|---|---|
| Self Managed Funds | |||
| Cash at bank and on deposit with Trading Banks | 869 | 2,554 | |
| Investments Held by Fund Managers | |||
| NZ Cash | AMP Capital NZ | 8,000 | 7,730 |
| NZ Fixed Interest | AMP Capital NZ | 23,641 | 21,342 |
| NZ Equities | Harbour Asset Management | 9,185 | 9,423 |
| Global Fixed Interest | Tower Asset Management NZ | 51,998 | 97,826 |
| Global Fixed Interest | PIMCO | 52,667 | - |
| Global Equities | Russell Investments Australia | 63,045 | 65,101 |
| Total Financial Assets | 209,405 | 203,976 |
| Financial Liabilities | 2012 | 2011 | |
|---|---|---|---|
| Donations Payable | 1,962 | 3,937 | |
| Trace Payables | 98 | 143 | |
| Total Financial Liabilities | 2,060 | 4,080 |
Risks arising from the financial assets and liabilities are inherent in the nature of the Trust’s activities and are managed by means of an ongoing process of identification, measurement and monitoring. The Trust is exposed to credit risk, liquidity risk, and market risk. Market risk includes risks around foreign currency, interest rates and pricing.
The Trust generally manages these risks in accordance with its Statement of Investment Performance Objectives (SIPO). The principle investment objectives are:
-
to maximise the total amount of donations which can be financed by the investment of the Fund over the long term;
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to preserve the real capital of the Fund;
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to maintain equity between present and future generations with respect to the amounts available for donations;
-
to maintain the highest degree of stability of investment earnings that is possible consistent with the preceding objectives;
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NZ Gazette 2012, No 82
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Otago Community Trust Financial Statements
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