General Funds
The financial results for the year ending 30th June 2007 show donations of $21,000 and investment income for the year exceeding $228,500. Grants for the year included a payment of $50,000 for the Hawke's Bay School Project, $25,000 to the Trust Board to meet the costs of the Jubilee Celebrations and a grant from the Sheelagh Thompson Endowment Fund towards the salary of a Nurse employed by Hohepa Canterbury.
During the year the net assets increased from $1,735,578 to $1,864,834 made up as follows:
| This year | Last year | |
| Cash & Short term deposits |
$183,987 | $145,763 |
| Bonds |
$555,647 | $575,000 |
| Shares in listed companies | $873,130 | $770,845 |
| Loans to Hohepa (at interest) | $456,694 | $456,694 |
| Total Assets |
__________
$2,069,49
|
__________
$1,948,303
|
| Less liabilities and loans to third parties | $204,625 | $212,265 |
| Net assets held. |
__________ $1,864,834 |
__________ $1,735,678 |
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 |
$834,880 | $801,916 |
| Holiday & Recreation Fund |
$39,449 | $36,735 |
| Sheelagh Thompson Endowment Fund (Canterbury) |
$651,036 | $609,954 |
| Hohepa Canterbury Development Fund | $108,158 | $69,683 |
| Hawke's Bay Fund |
$230,001 | $216,110 |
| Auckland Fund |
$1,308 | $1,248 |
| Total Accumulated Funds | __________ $1,864,834 |
__________ $1,735,678 |
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.
Each account is invested according to the size of each account, individual circumstances and any particular wishes of parents. The trustees have adopted specific investment policies and keep investments under ongoing review. The aggregate funds held in 35 separate accounts for individual residents are made up of:
| Cash and Interest Bearing Deposits | $235,955 |
| Bonds and Term investments | $270,345 |
| Shares and Managed Funds | $733,066 |
| Loans |
$53,500 |
| Life Insurance Policies | $3,401 |
| Total | __________ $ 1,296,268 |
