Consolidated Financial Statements for the Year Ended
31 March 2003
$ $
000 000
2003 2002
Financial Performance
Income (loss) from investments (9,474) (1,988)
(9,474) (1,988)
Less:
Administration expenses 299 298
Investment management fees 77 34
Donations 1309 2124
(1,685) (2,456)
Surplus after donations (11,159) (4,444)
Capital maintenance reserve - 476
Transferred to trust funds - (4,920)
(11,159) (4,444)
Financial Position
Trust funds:
Opening equity 36,214 36,461
Capital maintenance reserve - 4,197
Transfers to (from) reserves (11,159) (4,444)
25,055 36,214
Represented by-
Investments and other assets:
ING 4,667 6,480
State Street global assets 20,321 30,344
Bank and sundry 270 294
25,258 37,118
Less current liabilities:
Donations not uplifted 182 877
Accounts payable 21 27
25,055 36,214
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A full set of audited annual financial statements is available from the Executive Director, P.O. Box 365, Wanganui.