Trustee Banks Restructuring Act 1998 Consolidated Financial Statements for the Year Ended 31 March 1997 Income and Expenditure 1997$ 1996$ Income Interest2,877,593 227,950 Dividend836,389 1,231,786 3,713,982 1,459,736 Less Administration expenses111,960 72,260 Net operating income before donations3,602,022 1,387,476 Donations2,108,303 710,023 Operating surplus after donations1,493,719 677,453 Investment revaluation44,623 6,681,987 Gain on sale of investments4,627,172 2,505 Surplus for the year$6,165,514 $7,361,945 Balance Sheet 1997$ 1996$ Trust funds Opening balance, 1 April32,292,362 24,930,417 Surplus for the year6,165,514 7,361,945 Closing balance, 31 March$38,457,876 $32,292,362 Represented by Current assets Bank35,780,481 1,188,305 Other393,758 14,513 36,174,239 1,202,818 Less current liabilities454,167 50,877 35,720,072 1,151,941 Investment assets New Zealand investments1,625,102 29,977,325 Overseas investments1,109,304 1,163,096 2,734,406 31,140,421 Fixed assets3,398 $38,457,876 $32,292,362 This financial information has been extracted from the audited financial statement. A full set of financial statements together with a list of donations made is available upon request, from the executive director, P.O. Box 365, Wanganui.