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8 Contingent Liabilities: Donations and Sponsorships
Donations that are classified as contingent liabilities at balance date are discretionary
donation obligations that are reliant on fulfilment of certain conditions in future years.
Sponsorships that are classified as contingent liabilities at balance date are sponsorship
contracts which are reliant on fulfilment of certain conditions in future years. The following
contingent liabilities exist for donations and sponsorships that have been approved in the
current or previous years.
2016
2015
NZ$’000
NZ$’000
Donations
5,673
2,619
Sponsorships
420
136
6,093
2,755
Subject to fulfilment of the conditions, the contingent liabilities are
payable as follows:
Not later than 1 year
4,270
2,220
Later than 1 year and not later than 5 years
1,823
535
6,093
2,755
9 Investments
The Trust uses the services of an investment advisor to pursue an investment policy
considered appropriate for the Trust. The Trust selects fund managers according to their
style and specialist skills including the ability to protect capital in negative or down
markets. In the year to 31 March 2016 the Trust confirmed the following strategic asset
allocations and investments at fair value.
The Waikato Community Trust Incorporated
NOTES TO AND FORMING PART OF THE SUMMARISED
FINANCIAL STATEMENTS
for the year ended 31 March 2016
7 Donations Payable
2016
2015
NZ$’000
NZ$’000
Donations Payable
1,700
1,600
1,700
1,600
Donations payable are discretionary donations where there are no significant conditions
attached or where the significant conditions attached to the donations have been met at
balance date.