✨ TSB Community Trust Financial Statements
6 AUGUST 2013 NEW ZEALAND GAZETTE, No. 101 2723
TSB Community Trust
Notes to the Financial Statements
For the year ended 31 March 2013
12. Related Parties (continued)
| 2013 | 2012 | |
|---|---|---|
| $ | $ | |
| Key Management Compensation | ||
| Short term employees benefits | 309,521 | 270,879 |
| Short term trustee benefits | 100,705 | 62,877 |
| Total | 410,226 | 333,756 |
There were no long term benefits associated with key employees or trustees.
13. Financial Instruments
Exposure to interest rate, credit, and liquidity risks arise in the normal course of the Trust’s business.
Market Risk
Interest Rate Risk
Interest rate risk is the risk that the value of the Trust’s assets and liabilities will fluctuate due to changes in market interest rates. The Trust is exposed to interest rate risk primarily through its cash balances and investments. Management actively review exposure.
As at balance date the Trust had the following assets and liabilities exposed to interest rate risk:
| 2013 | 2012 | |
|---|---|---|
| $ | $ | |
| Cash and cash equivalents | 2,724,936 | 422,522 |
| Investments | 14,745,000 | 11,995,000 |
Sensitivity Analysis
If interest rates on cash balances and investments moved by +/- 0.5%, the Trust’s income from its cash balances and investments could be higher or lower by $101,991 (2012: $82,695). This sensitivity is based on the average cash balances and investments held at month end throughout the year. There has been no change to the method of calculation from previous periods.
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NZ Gazette 2013, No 101
✨ LLM interpretation of page content
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TSB Community Trust Financial Statements
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🏢 State Enterprises & Insurance16 July 2013
Financial statements, TSB Community Trust, Related Parties, Key Management Compensation, Financial Instruments, Interest Rate Risk, Sensitivity Analysis