70 / 100
8 G r a n t e x p e n s e
Consolidated
2015
$’000
2014
$’000
Grant expenses during the year comprise of the following:
Kiingitanga
- Ururangi Trust
1,625
1,558
- Koroneihana
100
100
Education
1,588
1,267
Waikato Endowed Colleges Trust
1,203
1,209
Marae
16,510
1,000
Marae facilities
214
164
Other
1,107
838
22,347
6,136
During the year, Waikato-Tainui Te Kauhanganui Incorporated approved the special distribution of $15m in marae grants, which is
in relation to the Relativity income received in prior years.
9 R e s e r v e s a n d r e t a i n e d e a r n i n g s
Consolidated
2015
$’000
2014
$’000
(a) Revaluation reserves
Farm and owner occupied properties
14,344
13,523
14,344
13,523
Consolidated
Notes
2015
$’000
2014
$’000
Farm and owner occupied properties
Balance at beginning of year
13,523
10,453
Revaluation gain during the year
17
821
3,070
Balance at end of year
14,344
13,523
Consolidated
Notes
2015
$’000
2014
$’000
Associates
Balance at beginning of year
-
7,222
Derecognition of associate revaluation reserve
25
-
(7,222)
Balance at end of year
-
-
waikato raupatu lands trust
notes to the financial statements
f o r t h e y e a r e n d e d 3 1 m a r c h 2 0 1 5
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