Public notice is hereby given, pursuant to section 225 (i) of the Local Government Act 1974, that the trustees have prepared financial statements setting out the financial affairs of the trust for the year ended 30 June 2000.
The Northland Regional Council Community Trust is a recoverable community trust established on 25 March 1996, pursuant to section 225D of the Local Government Act.
The trust owns Destination Northland Limited, which is a company registered under the Companies Act 1993 and is a reporting entity for the purposes of the Financial Reporting Act 1993.
Northland Grow Trust was established on 14 December 1998 and its principal activity during the period was to encourage business development in Northland for the benefit of the Northland region community as a whole.
The principal activity of the trust is promoting investment in the development of the Northland region.
During the period ended 30 June 2000, consolidated interest and investment income of $2,014,445 was received and grants totalling $843,860 (before elimination) were made.
At 30 June 2000, the trust equity totalled $13,092,350, represented by current assets of $198,736 including bank deposits of $92,555.
Total investments including current assets at balance
date amounted to $13,215,971. Current liabilities amounted to $123,130.
The Northland Regional Council Community Trust received an unqualified audit opinion for the year ended 30 June 2000, from Audit New Zealand on behalf of the Controller and Auditor-General.
Copies of the audited consolidated financial statements are available for public inspection on application to the undersigned, at 113 Bank Street (P.O. Box 1762), Whangarei.
C. WHITTON, Chief Executive.