Financial Statements of Waikato River Clean-Up Trust
for the period ended 30 June 2012
28
The accompanying notes form part of these financial statements.
Statement of Comprehensive Income
for the period ended 30 June 2012
Note
2012
2011
Revenue
Settlement funds
*
5,310,313 113,473,739
Other income
5
607,657
-
Finance income
6
6,619,716
351,329
Expenses
Operating
7
(597,340)
-
Depreciation
14
(4,327)
Amortisation
15
(2,873)
Grant payments
8
(713,989)
Surplus/(Deficit) for the period
11,219,157 113,825,068
Other comprehensive income
-
-
Total comprehensive income for the period
11,219,157 113,825,068
* Subject to the Waikato-Tainui Raupatu Claims (Waikato River) Settlement Act
2010 the Trust is to receive settlement funds of $210,000,000 over the next
26 years. The 2011 revenue of $113,473,739 represents the present value of
the $210,000,000 receivable. Further settlement funds of $10,000,000 will be
received over the next 27 years subject to the Nga Wai o Manipoto (Waipa River)
Act 2012. The 2012 revenue of $5,310,313 represents the present value of
$10,000,000 receivable. Refer to note 11 for further details.