Financial Statements of Waikato River Authority
for the period ended 30 June 2013
17 Reconciliation of the profit for the period with the net cash from operating activities
Note
2013
2012
Profit/(Loss) for the period
(328,062)
(77,843)
Adjustments for:
Change in trade and other receivables
9,722
7,137
Change in trade and other payables
(19,367)
(98,783)
(9,645)
(91,646)
Net cash from operating activities
(337,707)
(169,489)
18 Related parties
Transactions with key management personnel including Trustees
Key management personnel compensation comprised:
Note
2013
2012
Trustee fees
- H Biddle
Iwi appointee
1,368
912
- P Buckley
Crown appointee
912
1,824
- J Kaati
Iwi appointee
-
1,824
- A Livingston
Crown appointee
912
-
- Hon. J Luxton
Crown appointee
1,825
1,460
- T Morgan
Iwi appointee
1,095
2,920
- S O’Sullivan
Iwi appointee
912
2,052
- R Pikia
Iwi appointee
912
1,140
- S Strang
Crown appointee
684
2,052
- J Vernon
Crown appointee
1,140
2,964
6
9,760
17,148
Trustee expenses
- H Biddle
892
297
- J Kaati
-
243
- T Morgan
480
204
- S O’Sullivan
159
379
- R Pikia
454
323
- S Strang
86
258
- J Vernon
77
138
6
2,148
1,842
Total paid to trustees
11,908
18,990
Consultants
69,000
62,015
Total key management personnel compensation
80,908
81,005
Key management personnel have not entered into any transactions with the
Authority other than the above.
All transactions and outstanding balances with these related parties are priced on
an arm’s length basis and are to be settled in cash within six months of the reporting
date. None of the balances are secured.
No provision has been required, nor any expenses recognised for impairment of
receivables, for any loans or other receivables to related parties (2012: Nil)
Restoring and protecting the health and wellbeing of the Waikato River
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