✨ Financial Statements
29 AUGUST 2014 NEW ZEALAND GAZETTE, No. 105 2953
ASB COMMUNITY TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2014
At 31 March 2013 the Trust’s Interest Rate Swaps were in a liability position and the contractual maturities of these swaps are presented in the table below.
| 2013 | Carrying Value $\000 | 1 month $\000 | Greater than 1 month less than 1 Year $\000 | 1-2 Years $\000 | 2-5 Years $\000 | Over 5 Years $\000 | Total $\000 |
|---|---|---|---|---|---|---|---|
| (588) | (28) | (299) | (281) | (211) | 270 | (549) |
10. RECONCILIATION OF REPORTED SURPLUS TO NET CASH FLOW FROM OPERATING ACTIVITIES
| Group | Trust | |
|---|---|---|
| 2014 $\000 | 2013 $\000 | |
| -------------------------- | ------------ | ------------ |
| Reported surplus | 42,627 | 56,360 |
Add: Non-cash items
| Depreciation and Impairment | 523 | 121 | 523 | 121 |
| Loss on derecognition and disposal of fixed assets | 1 | 197 | 1 | 197 |
Movements in working capital items:
| Increase / (Decrease) in Sundry Accounts Payable | 99 | (209) | 120 | (210) |
| Decrease in Other Assets | 41 | 11 | 41 | 11 |
| Increase / (Decrease) in Outstanding Grants Payable | 1,505 | (9,236) | (2,686) | (6,185) |
| Increase in Subsidiary Company Current Account | - | - | 18,215 | 14,188 |
| Net Cash Inflows from Fund Managers | 37,524 | 33,457 | 37,524 | 33,457 |
| | 39,169 | 24,023 | 53,234 | 41,261 |
| Investment income reinvested | (81,686) | (81,165) | (81,686) | (81,165) |
| Net Cash Inflow / (Outflow) from operating activities | 634 | (464) | 634 | (464) |
11. OPERATING LEASE COMMITMENTS
There were no lease commitments at 31 March 2014 (2013: Nil).
12. CAPITAL COMMITMENTS AND CONTINGENT LIABILITIES
Other than committed grants for the Group totalling $31.3 million (2013: $29.8 million) the Group has no other material capital commitments.
At the 2013/14 financial year end the Group has committed a total of $5 million to a New Zealand based infrastructure fund. Of this sum a net $1.6 million has been drawn down to date (2013: $1.1 million). The Group has a contingent liability for the remaining $3.4 million (2013: $3.9 million).
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NZ Gazette 2014, No 105
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ASB Community Trust Financial Statements
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💰 Finance & RevenueFinancial Statements, Community Trusts, Investment Portfolio, Credit Risk, Bond Ratings, Interest Rate Swaps, Surplus, Cash Flow, Operating Lease Commitments, Capital Commitments, Contingent Liabilities