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Statement of Trust Money administered on behalf of the Crown for the year ended 30 June 2009

Statement of Trust Money Administered on Behalf of the Crown for the Year Ended 30 June 2009

The following trust money was administered on behalf of the Crown under Part VII of the Public Finance Act 1989. The statement shows the opening and closing net assets and the movements during the year.

 

Opening Net Assets
2008/09

Capital Contributions

 

Capital Distributions (Awards)

Revenue

 

Expenses

 

Closing Net Assets
2008/09

 

$000

$000

$000

$000

$000

$000

New Zealand Encyclopedia

 

1

 

 

 

 

(1)

 

 

New Zealand Historical Atlas

 

106

 

 

 

7

 

 

113

 

New Zealand History Research

 

1,448

 

 

(100)

 

123

 

 

1,471

 

Australian Trust for Oral History

 

1,626

 

 

(35)

 

137

 

(1)

 

1,727

 

Dictionary of New Zealand Biography

 

262

 

 

 

19

 

(78)

 

203

 

War History

 

515

 

337

 

 

31

 

(3)

 

880

 

Total

 

3,958

 

337

 

(135)

 

317

 

(83)

 

4,394

 

 

Under the Public Finance Act 1989 and by delegation from the Secretary to the Treasury, trust money can only be invested on deposit with New Zealand registered banks or in New Zealand Government Stock. Trust money is also managed so there is no significant concentration of credit risk. Interest rate risk is managed by investing across a wide range of maturity dates, but subject to liquidity requirements.

New Zealand Encyclopedia Trust

This trust was established to hold New Zealand Lottery Grants Board funds to be used for the feasibility study on the production of the Encyclopedia of New Zealand. The purpose for the trust has now been satisfied and consequently the trust was disestablished in 2008/09. Remaining funds ($259.63) will be returned to the Treasury in October along with the Ministry’s surplus.

New Zealand Historical Atlas Trust

This trust was established to hold New Zealand Lottery Grants Board funds, donations and royalties from sales to be used for the production of the New Zealand Historical Atlas and subsidiary volumes.

New Zealand History Research Trust

This trust was established to hold New Zealand Lottery Grants Board funds to make awards to individuals and groups for historical research and writing projects. During the 2008/09 financial year 10 awards in history were made totalling $100,000 and ranging in value from $6,000 to $12,000 (2007/08: 11 awards; $100,000; $4,000 to $25,000).

Australian Sesquicentennial Gift Trust for Awards in Oral History

This trust was established to hold funds from the Government of the Commonwealth of Australia, gifted to New Zealand in 1990 specifically to gather oral histories of importance to New Zealand. The income from these funds is used for the promotion of oral history in New Zealand. During the 2008/09 financial year ten awards in oral history were made totalling $34,500 and ranging in value from $1,500 to $35,000 (2007/08: 11 awards; $60,500; $2,000 to $12,000).

Dictionary of New Zealand Biography Trust

This trust was established to hold funds from the New Zealand Lottery Grants Board, funds from publication sales, and funds raised by private sponsorship or fundraising for the production of the Dictionary of New Zealand Biography and subsidiary volumes.

War History Trust

This trust was established to hold funds bequeathed to the Ministry for Culture and Heritage by Mr Watson, a long-time supporter of research into New Zealand’s military history. The funds and any interest income are to be used for the researching and writing of works on New Zealand’s involvement in overseas conflicts.


Updated on 23rd July 2015