✨ Financial Statements Notes
18 AUGUST 2014 NEW ZEALAND GAZETTE, No. 93 2645
Bay of Plenty Community Trust Incorporated
Notes to the financial statements (continued)
in New Zealand Dollars ($000's)
15 Operating leases
Leases as lessee
Non-cancellable operating lease in relation to the Trust’s administrative office rentals are payable as follows:
| 2014 | 2013 | |
|---|---|---|
| Less than one year | 68 | 68 |
| Between one and five years | 237 | 305 |
| Total | 305 | 373 |
Lease is for a 6 year term until 30 September 2017 with 1 right of renewal for 6yrs.
16 Reconciliation of the surplus for the year with the net cash from operating activities
| 2014 | 2013 | |
|---|---|---|
| Surplus for the year | 13,370 | 13,241 |
| Adjustments for: | ||
| Depreciation | 16 | 11 |
| Unrealised (gain)/loss on investments | (16,211) | (16,963) |
| Fair value movement on loans and receivables | (84) | 199 |
| Change in grants payables | (316) | 614 |
| Change in trade and other payables | 68 | 139 |
| Net cash from operating activities | (3,157) | (2,759) |
17 Related parties
The Trust held 22 formal meetings during the year. The table below records each Trustees attendance at these formal meetings and the remuneration paid to each Trustee.
| Trustee | Meeting Attendance | Remuneration ($) |
|---|---|---|
| Brown, Greg (Chair until 1 December 2013) | 22/22 | 20 |
| Brown, Kenneth (Audit Committee Chair) | 11/11 | 13 |
| Christensen, Michael | 13/17 | 12 |
| Cleghorn, Bill (Investment Committee Chair) | 13/17 | 13 |
| Hammond, Karla | 7/12 | 12 |
| Hawker-Green, Kylie (Deputy Chair from 1 December 2013) | 12/16 | 13 |
| Lewis, Pamela (Dillon Committee Chair) | 21/22 | 13 |
| Mahoney, Jenny (Chair from 1 December 2013) | 11/16 | 16 |
| McAdie, Nigel | 20/20 | 13 |
| Mihinui, Roku | 11/14 | 12 |
| Morris, Steve | 12/12 | 12 |
| Rea, Tracy (Deputy Chair until 1 December 2013) | 12/18 | 14 |
| Total | 163 |
During the year Trustees attended 64 separate formal and informal meetings and functions.
There are no amounts payable to Trustees at balance date.
Trustees are considered to be the key management personnel of the Trust.
Next Page →
NZ Gazette 2014, No 93
✨ LLM interpretation of page content
💰
Bay of Plenty Community Trust Financial Statements Notes
(continued from previous page)
💰 Finance & Revenue26 June 2014
Financial Instruments, Fair Value, Valuation Methods, Investment Portfolio, Unlisted Unit Trusts, Operating Leases, Reconciliation of Surplus, Related Parties, Trustee Remuneration, Meeting Attendance
12 names identified
- Greg Brown, Chair until 1 December 2013
- Kenneth Brown, Audit Committee Chair
- Michael Christensen, Trustee
- Bill Cleghorn, Investment Committee Chair
- Karla Hammond, Trustee
- Kylie Hawker-Green, Deputy Chair from 1 December 2013
- Pamela Lewis, Dillon Committee Chair
- Jenny Mahoney, Chair from 1 December 2013
- Nigel McAdie, Trustee
- Roku Mihinui, Trustee
- Steve Morris, Trustee
- Tracy Rea, Deputy Chair until 1 December 2013