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2002 Annual Report

FINANCIAL STATEMENTS

STATEMENT OF FINANCIAL PERFORMANCE

for the year ended 30 June 2002

2002
Budget
$
Note
2002
Actual
$
2001
Actual
$

INCOME

2,267,000 Government Grant 2,266,667 2,266,667

- Government grant - NZ Stock Exchange 2 134,003 -

52,000 Interest 40,835 52,400

300,000 Application fees and costs recoverable 305,428 309,340

- Recovery of Litigation and Court Costs 45,047 2,000

488,000 Administrative services to the Takeovers Panel 3 603,716 229,157

9,000 Allocation of receipt for use of assets 4 9,848 3,002

3,116,000 Total Income 3,405,544 2,862,566

EXPENDITURE

6,000 Auditors - Fees 6,000 6,000

2,000 Auditors - Other Services - -

- Bad Debts - 1,067

30,000 Communication Charges 35,825 23,470

Depreciation

- Office equipment 66,728 55,826

- Office furniture 6,543 4,888

- Leasehold improvements 21,0968 20,304

- Motor vehicle 9,600 -

- Library 20,133 25,073

120,000 Total depreciation 124,100 106,091

- Fringe benefit tax 5,785 -

25,000 Litigation 18,239 47,124

252,000 Members' Fees 5 251,737 213,382

214,000 Printing and Stationery 232,031 201,775

180,000 Professional Services 478,907 172,166

213,000 Rent 212,611 204,865

1,797,000 Salaries and Superannuation Subsidies 5 & 6 1,624,034 1,511,950

195,000 Services and Supplies 264,499 191,732

62,000 Superannuation Contribution Withholding Tax 40,701 50,933

213,000 Travel and Accommodation 228,019 139,700

3,309,000 Total Expenditure 3,522,488 2,870,255

$(193,000) Surplus (Deficit) 7 $(116,944) $(7,689)

STATEMENT OF MOVEMENTS IN EQUITY

for the year ended 30 June 2002

2002
Budget
$
2002
Actual
$
2001
Actual
$

(193,000) Surplus (deficit) for year (116,944) (7,689)

- Increase (decrease) in revaluation reserve - (10,792)

(193,000) Total recognised revenues and expenses for year (116,944) (18,481)

878,000 Equity at start of period 878,205 896,686

$685,000 Equity at end of period $761,261 $878,205

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