23 / 40
10 Commitments: Investments
The Trust has made commitments to invest in certain managed funds, which will call
upon the committed funds as the fund managers identify suitable investment vehicles.
These investments will be funded by realising other investments currently held by the Trust.
2015
Commitment Contribution
to date
Commitment
Balance
Expected
Contribution
within 1 year
NZ$’000
NZ$’000
NZ$’000
NZ$’000
Committed Investments
23,000
13,588
9,412
352
2014
Commitment Contribution
to date
Commitment
Balance
Expected
Contribution
within 1 year
NZ$’000
NZ$’000
NZ$’000
NZ$’000
Committed Investments
23,000
6,159
16,841
1,800
11 Te Kete Putea Limited Partnership
The Trust and ten of the other eleven Community Trusts established under the 1988
Trustee Bank Restructuring Act have combined resources to own and operate an
integrated donations and financial management system. The system is owned and
operated by a limited partnership named Te Kete Putea Limited Partnership (TKPLP), which
was registered on 18 December 2012. The total cost of the project was $2,380,000. The
Trust contribution to these costs was 8.2%.
The capital of TKPLP consists of 10,000 units and each Trust holds units broadly in
proportion to its audited capital at 31 March 2008. The Trust holds 820 units.
The investment in TKPLP was initially valued at $195,000. Subsequent to initial recognition,
the investment has been recorded at fair value through profit or loss. Fair value is
determined using an appropriate valuation technique.
12 Reconciliation of Surplus for the Year to Net Cash Flows
from Operating Activities
2015
2014
NZ$’000
NZ$’000
TOTAL COMPREHENSIVE INCOME FOR THE YEAR
24,535
21,550
Adjust for Non-Cash Items:
71
27
Impact of Changes in Net Assets and Liabilities:
(25,912)
(20,552)
Net Cash (Outflow)/ Inflow From Operating Activities
(1,306)
1,025
THE WAIKATO COMMUNITY TRUST INCORPORATED
NOTES TO AND FORMING PART OF THE FINANCIAL STATEMENTS
for the year ended 31 March 2015
T RUST WA I K ATO
ANNUA L R E POR T
2 0 1 5
2 3