✨ Financial Statements Notes
NEW ZEALAND GAZETTE, No. 105 29 AUGUST 2014
ASB COMMUNITY TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2014
The Group has a 44% interest in Te Kete Putea Limited Partnership. The Partnership is contracted to provide support services to Putea the Trust and other entities for database management services. The Group is not required to make any further capital contributions to the Limited Partnership. Transactions and any outstanding balances with the Limited Partnership are at arm’s length and immaterial to the Group’s activities and financial statements. The investment in the Limited Partnership is included in the Other Assets in the Statement of Financial Position.
As defined by NZ IAS 24: Related Party Disclosures, Trustees are related parties of the Trust. As the Trustees are not employees of the Trust, they do not receive short term employee benefits, post employment benefits, other long term benefits, or termination benefits. Trustees are appointed by the New Zealand Government and remunerated at rates set by the Government. During the year Trustees received honoraria as follows:
| Group and Trust | 2014 \$ | 2013 \$ |
|---|---|---|
| E Auva’a | 18,700 | 18,700 |
| A Bell | 18,558 | 17,000 |
| M Brickell | 18,700 | 18,700 |
| M Broadbelt | 18,700 | 10,908 |
| P Clark | 17,000 | 8,500 |
| V Garg | 14,167 | - |
| A Harley | - | 7,083 |
| P Kearns | 1,558 | 18,700 |
| K Kohere-Soutar | - | 7,083 |
| B Leveloff | 18,700 | 18,700 |
| L Lim | 21,250 | 21,250 |
| B Lythe | - | 7,083 |
| I McDougall | 17,000 | 17,000 |
| T Millar | 17,000 | 17,000 |
| M Milne | 18,700 | 18,700 |
| B Plunkett | 17,000 | 17,000 |
| J Slater | 17,000 | 9,917 |
| K Whitney | 34,000 | 34,000 |
| K Wright | 17,000 | 9,917 |
| 285,033 | 277,241 |
At balance date $4,250 was due to a Trustee for Honorarium and expenses pending the receipt of certain documentation. This outstanding amount was settled shortly after balance date. No other monies were owing to or due from Trustees at 31 March 2014 (31 March 2013: Nil).
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NZ Gazette 2014, No 105
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