✨ Financial Statements Continuation
19 AUGUST 2013 NEW ZEALAND GAZETTE, No. 110 2991
Bay of Plenty Community Trust Incorporated
Notes to the financial statements (continued)
in New Zealand Dollars (000’s)
16 Reconciliation of the profit for the year with the net cash from operating activities
| 2013 | 2012 | |
|---|---|---|
| Profit for the year | 13,241 | 2,887 |
| Adjustments for: | ||
| Depreciation | 11 | 18 |
| Unrealised (gain)/loss on investments | (16,963) | (3,380) |
| Fair value movement on loans and receivables | 199 | - |
| Change in grants payables | 614 | 167 |
| Change in trade and other payables | 139 | (9) |
| Net cash from operating activities | (2,759) | (317) |
17 Related parties
The Trust held 28 formal meetings during the year. The table below records each Trustee's attendance at these formal meetings and the remuneration paid to each Trustee.
| Trustee Name (Role/Changes) | Meeting Attendance | Remuneration $\ |
|---|---|---|
| Blanks, Peter (Retired 31 August 2012) | 9/9 | 6 |
| Brown, Gregg (Chair from 1 October 2012) | 25/25 | 18 |
| Brown, Kenneth (Audit Committee Chair) | 18/23 | 13 |
| Christensen, Michael (Appointed 1 September 2012) | 8/12 | 7 |
| Cleghorn, Bill (Investment Committee Chair) | 25/25 | 12 |
| Dillon, Mary (Retired 31 August 2012) | 11/11 | 10 |
| Hammond, Karla | 14/19 | 12 |
| Hawker-Green, Kylie | 17/21 | 13 |
| Lewis, Pamela (Dillon Committee Chair) | 24/25 | 13 |
| Mahoney, Jenny | 14/19 | 14 |
| McAdie, Nigel (Appointed 1 September 2012) | 13/13 | 8 |
| Mihinui, Roku | 13/19 | 12 |
| Morris, Steve | 20/20 | 12 |
| Rea, Tracy (Deputy Chair) | 24/27 | 14 |
| Total | 164 |
During the year Trustees and Trust staff attended 128 separate formal and informal meetings and functions.
There are no amounts payable to Trustees at balance date.
Trustees are considered to be the key management personnel of the Trust.
18 Subsequent events
There are no subsequent events at 31 March 2013 (2012: Nil).
19 Commitments
There were three loans approved in principle during the financial period totalling $1,490,000 which remain unpaid as at 31 March 2013. The loans relate to the Tauranga Community Housing Trust, The Elms and Theatre Whakatane.
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NZ Gazette 2013, No 110
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Bay of Plenty Community Trust Incorporated Financial Statements
(continued from previous page)
💰 Finance & RevenueFinancial Statements, Community Trusts, Bay of Plenty, Financial Instruments, Investment Portfolio, Valuation Techniques, Fair Value, Leases
14 names identified
- Peter Blanks, Trustee, Retired 31 August 2012
- Gregg Brown, Trustee, Chair from 1 October 2012
- Kenneth Brown, Trustee, Audit Committee Chair
- Michael Christensen, Trustee, Appointed 1 September 2012
- Bill Cleghorn, Trustee, Investment Committee Chair
- Mary Dillon, Trustee, Retired 31 August 2012
- Karla Hammond, Trustee
- Kylie Hawker-Green, Trustee
- Pamela Lewis, Trustee, Dillon Committee Chair
- Jenny Mahoney, Trustee
- Nigel McAdie, Trustee, Appointed 1 September 2012
- Roku Mihinui, Trustee
- Steve Morris, Trustee
- Tracy Rea, Trustee, Deputy Chair