✨ Financial Statements and Trustee Information
West Coast Community Trust
Statement of Accounting Policies & Notes
for the Year Ended 31 March 2014
Conflicts of Interest
It is recognised that Trustees may have a wide range of involvement with the community and the potential of conflicts of interest will arise from time to time. A Trustee who has any direct or indirect association with any organisation is required to disclose that interest to the Board and have it recorded in the minutes of the meeting. The Trustees have adopted a Code of Conduct. There were no breaches of this code during the financial year ended 31 March 2014. A Register of Interest is available for public inspection.
Trustee Attendance - Meetings
| Name of Trustee | Board Meetings Held | Board Meetings Attended | Meeting Fees 2014 | Honorarium and Meeting Fees 2013 |
|---|---|---|---|---|
| Mary Molloy | 4 | 4 | 4,245 | 4,075 |
| Coraleen White | 4 | 4 | 2,200 | 2,383 |
| Mark Lockington | 4 | 3 | 2,180 | 6,819 |
| Tim Mora | 4 | 4 | 2,025 | 2,883 |
| Elizabeth Rock | 4 | 4 | 1,800 | 2,383 |
| Warren Gilbertson | 4 | 4 | 1,800 | 500 |
| Rob Caldwell | 4 | 3 | 1,400 | 2,883 |
| Barbara Greer | 4 | 3 | 1,300 | 2,483 |
| Michelle Lomax | 4 | 3 | 1,300 | 900 |
| Dennis Straker | 4 | 0 | - | 1,984 |
| Anthony Sullivan | 4 | 0 | - | 1,984 |
| Total remuneration paid in the year ended 31 March | $18,250 | $29,277 |
Rates of remuneration are set by the Minister of Finance. The Trust has also insured all Trustees against liability to other parties that may arise from their position as Trustees, excluding liability for gross negligence or criminal actions.
TRUST FUNDS
Although the Trust does not maintain an inflation reserve, it does seek to maintain the Trust capital in real terms. The Trust calculates that an amount of $1,891,862 is required to be retained to stabilise the original $3m fund from inflation. The Trust's current retained earnings is $2,836,493 which leaves $944,631 as the growth of the Trust in real terms.
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NZ Gazette 2014, No 102
✨ LLM interpretation of page content
💰
West Coast Community Trust Financial Statements
(continued from previous page)
💰 Finance & Revenue11 August 2014
Financial Statements, Audit, Community Trust, West Coast
11 names identified
- Mary Molloy, Trustee attendance and remuneration
- Coraleen White, Trustee attendance and remuneration
- Mark Lockington, Trustee attendance and remuneration
- Tim Mora, Trustee attendance and remuneration
- Elizabeth Rock, Trustee attendance and remuneration
- Warren Gilbertson, Trustee attendance and remuneration
- Rob Caldwell, Trustee attendance and remuneration
- Barbara Greer, Trustee attendance and remuneration
- Michelle Lomax, Trustee attendance and remuneration
- Dennis Straker, Trustee attendance and remuneration
- Anthony Sullivan, Trustee attendance and remuneration