ANNUAL REPORT - Ngā Pae o te Māramatanga

Ngā Pae o te MāramatangaNew Zealand’s Indigenous Centre of Research ExcellenceNotes to the Financial Statementsfor the year ended 31 December 2011Actual 201112 Months$Actual 201012 Months$(b)Tertiary Education CommissionGrant for the 12 months ending 31 December 2011 5,360,576 5,330,960(c)Tertiary Education Commission – Research Funds held byThe University of AucklandResearch obligations at the beginning of the year 2,567,964 2,787,311Change in research obligations (740,099) (219,347)Change in Capital Equipment Fund (50,288) 0Research obligations at the end of the year 1,777,577 2,567,9644 Other Research Funds held as Research ObligationsResearch obligations at the beginning of the year (42,049) 122,835Research Funds returned to HRC 0 0Change in research obligations 62,674 (164,884)Research obligations at the end of the year 20,625 (42,049)5 CommitmentsThere are outstanding commitments of $3,167,896 for signedcontracts against Research Funds held for the Research,Capability Building and Knowledge Exchange programmesat balance date. (2010:$2,781,457)6 Other RevenueTotal of other grants received. 22,320 196,5497 OverheadsOverheads paid from Tertiary Education Commission Grant income 585,247 578,183Overheads paid from other grant income 0 76,401Total 585,247 654,5848 SubcontractorsPayments to subcontractors are for contracted research, knowledgeexchange and capability building projects for all participating entities.9 Operating ExpenditureNgā Pae o te Māramatanga did not incur any interest, audit fees orwrite off any bad debts expenses during the year (2011 nil).40Ngā Pae o te māramatanga