General Funds
During the year end 30 June 2010 the net assets of $1,470,293 were made up as follows:
| This year | Last year | |
| Cash & Short term deposits |
$88,034 | $226,213 |
| Bonds |
$100,000 | $549,979 |
| Shares in listed companies | $1,123,248 | $683,643 |
| Loans to Hohepa (at interest) | $358,640 | $158,640 |
| Total Assets |
__________
$1,581,888
|
__________
$1,392,262
|
| Less liabilities and loans to third parties | $201,213 | $201,125 |
| Net assets held. |
__________ $1,470,293 |
__________ $1,417,350 |
These assets which make up the accumulated funds are held for the general purposes of the Foundation and for specific Hohepa regions or purposes as directed by donors as follows:
| This year |
Last year | |
| General Purposes |
$747,981 | $706,046 |
| Holiday & Recreation Fund |
$47,317 | $45,130 |
| Sheelagh Thompson Endowment Fund (Canterbury) |
$533,785 | $530,099 |
| Hohepa Canterbury Development Fund | $135,258 | $130,458 |
| Auckland Fund | $5,952 | $5,617 |
| Total Accumulated Funds | __________ $1,470,293 |
__________ $1,417,350 |
Resident and Special Trust Funds
In addition to the accumulated funds as shown above, the Foundation acts as “an umbrella” for sub trusts established by parents to provide for individual residents. The financial statements of individual trusts are covered by the annual audit and parents are provided with annual accounts showing details of any payments made on behalf of residents and the individual investments held.
