✨ Financial Statements
Otago Community Trust
Notes to the financial statements
For the year ended 31 March 2013
in New Zealand Dollars ($000's)
16 Trust funds
| Group | Note | Trust Capital | Capital Maintenance Reserve | Uncommitted Surplus | Total |
|---|---|---|---|---|---|
| Balance at 1 April 2011 | 131,467 | 63,203 | 7,161 | 201,831 | |
| Total recognised income and expense | - | - | 12,261 | 12,261 | |
| Reserves transfers | - | 3,130 | (3,130) | - | |
| Donations approved from trust equity | - | - | (4,758) | (4,758) | |
| Balance at 31 March 2012 | 131,467 | 66,333 | 11,534 | 209,334 |
| | | | | | |
| Balance at 1 April 2012 | | 131,467 | 66,333 | 11,534 | 209,334 |
| Total recognised income and expense | | - | - | 21,286 | 21,286 |
| Reserves transfers | | - | 1,580 | (1,580) | - |
| Donations approved from trust equity | | - | - | (4,692) | (4,692) |
| Balance at 31 March 2013 | | 131,467 | 67,913 | 26,548 | 225,928 |
| Parent | Note | Trust Capital | Capital Maintenance Reserve | Uncommitted Surplus | Total |
|---|---|---|---|---|---|
| Balance at 1 April 2011 | 131,467 | 63,203 | 6,696 | 201,366 | |
| Total recognised income and expense | - | - | 12,276 | 12,276 | |
| Reserves transfers | - | 3,130 | (3,130) | - | |
| Donations paid from trust equity | - | - | (4,758) | (4,758) | |
| Balance at 31 March 2012 | 131,467 | 66,333 | 11,084 | 208,884 |
| | | | | | |
| Balance at 1 April 2012 | | 131,467 | 66,333 | 11,084 | 208,884 |
| Total recognised income and expense | | - | - | 21,263 | 21,263 |
| Reserves transfers | | - | 1,580 | (1,580) | - |
| Donations paid from trust equity | | - | - | (4,692) | (4,692) |
| Balance at 31 March 2013 | | 131,467 | 67,913 | 26,075 | 225,455 |
Trust Capital
Trust capital represents the realised value of its original asset, being shares in Trust Bank.
Capital Maintenance Reserve
The Capital Maintenance Reserve represents the additional amount necessary to preserve the real value of the capital allowing for inflation as measured by the Consumers' Price Index (CPI).
Uncommitted Surplus
Uncommitted surplus represents funds not allocated to the Capital Maintenance Reserve and as such form part of the Trust Fund. Like the Capital Maintenance Reserve, balances in Uncommitted Surplus are used to provide a stable flow of grants to the community during times of adverse investment earnings.
Capital Management
The Trust's policy is to maintain a strong capital base so as to sustain future development of the Trust.
The Trust is not subject to any externally imposed capital requirements.
The Trust's policies in respect of capital management and allocation are reviewed regularly by the Trustees.
There have been no material changes in the Trust's management of capital during the period.
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NZ Gazette 2013, No 98
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Otago Community Trust Financial Statements
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🏢 State Enterprises & InsuranceFinancial statements, Trust funds, Capital maintenance, Uncommitted surplus, Donations