✨ Financial Statements
27 AUGUST 2014 NEW ZEALAND GAZETTE, No. 101 2799
THE WAIKATO COMMUNITY TRUST INCORPORATED
NOTES TO AND FORMING PART OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2014
14. TE KETE PUTEA LIMITED PARTNERSHIP
The Trust and ten of the other eleven Community Trusts established under the 1988 Trustee Bank Restructuring Act have combined resources to own and operate an integrated donations and financial management system. The system is owned and operated by a limited partnership named Te Kete Putea Limited Partnership (TKPLP), which was registered on 18 December 2012. The total cost of the project was $2,380,000. The Trust contribution to these costs was 8.2%.
The capital of TKPLP consists of 10,000 units and each Trust holds units broadly in proportion to its audited capital at 31 March 2008. The Trust holds 820 units.
The investment in TKPLP was initially valued at $195,000. Subsequent to initial recognition, the investment has been recorded at fair value through profit or loss. Fair value is determined using an appropriate valuation technique.
15. RECONCILIATION OF SURPLUS FOR THE YEAR TO NET CASH FLOWS FROM OPERATING ACTIVITIES
| 2014 NZ$'000 | 2013 NZ$'000 | |
|---|---|---|
| TOTAL COMPREHENSIVE INCOME FOR THE YEAR | 21,550 | 23,963 |
Adjust for Non-Cash Items:
| | | |
| (Profit) / Loss on Sale of Property, Plant and Equipment | (13) | - |
| Depreciation | 89 | 64 |
| Impairment on Property, Plant and Equipment | - | 111 |
| Notional Interest on Sport Waikato Loan | (49) | (119) |
| | 27 | 56 |
Impact of Changes in Net Assets and Liabilities:
| | | |
| (Increase) / Decrease in Accounts Receivable | 8 | 9 |
| (Increase) / Decrease in Investments | (19,044) | (25,200) |
| (Increase) / Decrease in Derivative Financial Instruments | (1,520) | 1,000 |
| Increase / (Decrease) in Accounts Payable and Accruals | 15 | (131) |
| Increase / (Decrease) in Donations Payable | 5 | 345 |
| Increase / (Decrease) in Employee Entitlements | (16) | 39 |
| | (20,552) | (23,938) |
Net Cash Inflow From Operating Activities | 1,025 | 81 |
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NZ Gazette 2014, No 101
✨ LLM interpretation of page content
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Notes to the Financial Statements of The Waikato Community Trust Incorporated
(continued from previous page)
💰 Finance & RevenueFinancial Statements, Te Kete Putea Limited Partnership, Reconciliation of Surplus, Operating Activities