✨ Financial Statements
15 AUGUST 2012 NEW ZEALAND GAZETTE, No. 97 2661
THE WAIKATO COMMUNITY TRUST INCORPORATED
NOTES TO AND FORMING PART OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2012
14. CONTINGENT LIABILITIES AND COMMITMENTS
14.1 Contingent Liabilities
The following contingent liabilities exist for donations that have been approved in the current or previous years, which are subject to the fulfillment of certain conditions in future years.
Total Contingent Liabilities
| 2012 | 2011 | |
|---|---|---|
| NZ$'000 | 3,582 | 4,512 |
Subject to fulfillment of the conditions, the contingent liabilities are payable as follows:
| 2012 | 2011 | |
|---|---|---|
| Not later than 1 year | 851 | 693 |
| Later than 1 year and not later than 5 years | 2,731 | 3,819 |
| 3,582 | 4,512 |
14.2 Commitments
The Trust has made a commitment to invest $8,000,000 in an infrastructure investment fund. To date $1,822,000 has been invested in funds of this type. The balance of $6,178,000 will be invested if the fund manager identifies suitable investment vehicles (2011: $6,178,000). It is expected that $450,000 will be called upon during the 2014 financial year. The investment will be funded by realising other investments currently held by the Trust.
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NZ Gazette 2012, No 97
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Notes to Financial Statements for The Waikato Community Trust Incorporated
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💰 Finance & RevenueFinancial Statements, Contingent Liabilities, Commitments, Waikato Community Trust