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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. Subsequent to a reallocation of units
on the exit of Community Trust of Southland from the Limited Partnership, the Trust
holds 872 units (2015: 820 units).
The investment in TKPLP was initially valued at $195,000. Subsequent to initial
recognition, the investment has been recorded at fair value through the profit or loss
component of the Statement of Comprehensive Revenue & Expenses. Fair value is
determined using an appropriate valuation technique.
12 Reconciliation of Surplus for the Year to Net Cash Flows from
Operating Activities
2016
2015
NZ$’000
NZ$’000
TOTAL COMPREHENSIVE REVENUE & EXPENSES FOR THE YEAR
11,590
24,535
Adjust for Non-Cash Items
1,226
71
Impact of Changes in Net Assets and Liabilities:
(13,342)
(25,912)
Net Cash Outflow from Operating Activities
(526)
(1,306)
The Waikato Community Trust Incorporated
NOTES TO AND FORMING PART OF THE SUMMARISED
FINANCIAL STATEMENTS
for the year ended 31 March 2016