✨ Financial Statements and Trustee Fees
30 AUGUST 2013 NEW ZEALAND GAZETTE, No. 119 3209
THE COMMUNITY TRUST OF SOUTHLAND
NOTES TO THE FINANCIAL STATEMENTS
For the Year Ended 31 March 2013
23. FINANCIAL INSTRUMENTS (Cont’d)
Fair Value Movements
The following table details movements in the fair value of Level 3 financial instruments measured using significant non-observable inputs in relation to the investment in Direct Capital IV.
| Group 2013 | Group 2012 | Parent 2013 | Parent 2012 | |
|---|---|---|---|---|
| $000 | $000 | $000 | $000 | |
| Opening balance | 695 | 389 | 695 | 389 |
| Net Income recognised in the statement of financial performance | 10 | (14) | 10 | (14) |
| Total realised gains/(losses) recognised in the statement of financial performance | (42) | 35 | (42) | 35 |
| Total un-realised gains/(losses) recognised in the statement of financial performance | 182 | (25) | 182 | (25) |
| Capital Contribution | 90 | 374 | 90 | 374 |
| Capital Distribution | (51) | (64) | (51) | (64) |
| Closing Balance | 884 | 695 | 884 | 695 |
Total gains/(losses) included in the statement of financial performance in relation to those financial assets held as at 31 March.
| Year ended 31 March | 150 | (4) | 150 | (4) |
24. TRUSTEE FEES
Trustee fees are set by the Minister of Finance at a fixed annual amount. Fees paid to Trustees are as follows:
| Fees 2013 | Fees 2012 | |
|---|---|---|
| $000 | $000 | |
| Robin Campbell | 22 | 16 |
| Joan Kiernan | 20 | 17 |
| Tracy Hicks | 28 | 31 |
| Alison Broad (resigned Sept 12) | 9 | 20 |
| Wayne Harpur (resigned Sept 12) | 8 | 14 |
| Raewynne Evans | 17 | 15 |
| Trish Lindsay | 19 | 21 |
| Craig Robins | 18 | 17 |
| Linette Sinclair | 18 | 19 |
| Toni Green | 16 | 13 |
| Richard Watson (commenced Oct 12) | 9 | - |
| Penny Simmonds (commenced Oct 12) | 8 | - |
| $192 | $183 |
25. CONTINGENCIES
There are no contingent liabilities or contingent assets relating to the Group at 31 March 2013 (2012: Nil).
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NZ Gazette 2013, No 119
✨ LLM interpretation of page content
💰
Financial Report of the Community Trust of Southland
(continued from previous page)
💰 Finance & RevenueFinancial Instruments, Fair Value Hierarchy, Quoted Market Value, Observable Markets, Non-Observable Inputs, Valuation Techniques, Investment Guidelines, Portfolio Valuation, Equity Value, Audited Financial Statements, Trustee Fees