2008 Annual Report - ASB Community Trust

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32THE MAIN ACT2007-2008 TrusteesTrust governanceASB Community Trust operates under its Trust Deed and theCommunity Trusts Act 1999.Board membershipThe Board of Trustees comprises 15 trustees appointed by theMinister of Finance for a four-year term.Conflicts of interestIt is recognised that Trustees will have a wide range ofinvolvement with the community and the potential for conflictof interest will arise from time to time.To cover this eventuality, any Trustee who has an interest in anymatter before the Trust must record that interest in the Trust’sRegister of Interests.That Trustee is not counted in the quorum present at themeeting. They may not vote in respect of the matter they havean interest in and must absent themselves from any discussionor consideration of it.Before the conduct of business, the Chair of any meeting of theTrustees asks for the disclosure of any interest in the upcomingbusiness. The minutes of the meeting record any disclosureof interest made, the entry in the Register of Interests of thatdisclosure and the absence of the Trustee from the meetingwhile the matter is dealt with.1. Reviewing monthly and annual financial statementsand information prior to submission to the full Boardfor approval.2. Reviewing annual budgets prior to submission to the fullBoard for approval.3. Reviewing any taxation issues in relation to the Trust.4. Consideration of any major expenditure items prior tothese being discussed and approved by the full Board.d) Audit and risk – This committee is responsible for:1. Identifying, assessing and managing business andorganisational risk and assisting the Board in thedischarge of financial reporting responsibilities.2. Reviewing the effectiveness of internal control systems.3. Providing a formal forum for the Board, auditors and staff.4. Agreeing with the external auditors on the nature, scopeand cost of the audit.5. Ensuring the Board meets financial reportingrequirements and that external reporting of informationis of high quality.Board committees 2007/08 financial yearThe Board has formally established four sub-committees toassist with the operation of the Trust:a) Grants – This committee reviews all applications whichhave been assessed by the grants team and makes arecommendation to the full Board of the Trust. It alsoconsiders policy and strategy development.b) Investments – This committee considers the investmentpolicy, objectives, strategies and asset allocations of theTrust and makes recommendations to the full Board andreviews fund manager appointments and performance.c) Finance and administration – This committee is principallyresponsible for:INTRODUCING (from left) – Pat Snedden, Yoon Boo Lee,Lorraine Wilson, Waitai Petera, Phil Greenbank, Wilmason Jensen, Kevin Prime,Mary Foy, Candis Craven, Brian Lythe, Peter Rowe, Jenny Kirk, Ann Green,Soana Pamaka, Kristen Kohere-Soutar.
33THE MAIN ACTDirectoryTrustee attendanceBoard Meetings Sub-Committee MeetingsHeld Attended Held AttendedASB Community TrustAllendale50 Ponsonby RoadAucklandCandis Craven 11 10 16 15Mary Foy 11 11 24 24Ann Green 11 11 13 12Phil Greenbank 11 10 38 36Wilmason Jensen 11 9 19 15Jenny Kirk 11 11 28 23Kristen Kohere-Soutar 11 9 28 25Yoon Boo Lee 11 11 21 20Brian Lythe 11 11 34 30Soana Pamaka 11 6 19 17Waitai Petera 11 7 15 13Kevin Prime 11 10 17 15Peter Rowe 11 11 16 14Patrick Sneddon 11 10 23 20Lorraine Wilson 11 11 27 25Trustee remunerationHonorariumMeeting FeesCandis Craven 5,000 14,345Mary Foy 4,000 14,000Ann Green 4,000 10,150Phil Greenbank 4,000 16,450Wilmason Jensen 4,000 8,645Jenny Kirk 4,000 13,020Kristen Kohere-Soutar 4,750 12,189Yoon Boo Lee 4,000 10,815Brian Lythe 5,000 14,695Soana Pamaka 4,000 9,800Waitai Petera 4,000 7,700Kevin Prime 12,000 17,100Peter Rowe 5,000 9,150Patrick Sneddon 6,670 9,585Lorraine Wilson 4,000 13,530P 09 360 02910800 272 878F 09 378 6954E info@ASBCommunityTrust.org.nzW www.ASBCommunityTrust.org.nzInvestment advisorsRussell Investment Group Ltd135 Albert Street, AucklandCustodiansJP Morgan Worldwide Securities Services259 George Street, Sydney, AustraliaSolicitorsJones Young135 Albert Street, AucklandAuditors and tax advisorsKPMG18 Viaduct Harbour Avenue, AucklandBankersASB LtdCorner Albert and Wellesley Street, AucklandASB Community Trust was established in 1988 following thesale of shares in ASB Bank Ltd to the Commonwealth Bank ofAustralia. We are grateful to ASB for their ongoing support.
Page 1 and 2: - IN ASSOCIATION WITH AUCKLAND & NO
Page 3 and 4: 01 2008 REVIEWChairman’s reviewTi
Page 6 and 7: 042008 REVIEWStaff appointmentsInve
Page 8 and 9: 062008 REVIEWResearch & policyMajor
Page 11 and 12: 09SECTOR SHOWCASEArts & CultureThe
Page 13 and 14: 11SECTOR SHOWCASECommunity Economic
Page 15 and 16: 13SECTOR SHOWCASECommunity Faciliti
Page 17 and 18: 15SECTOR SHOWCASEEducationThe trust
Page 19 and 20: 17SECTOR SHOWCASEEnvironment & Heri
Page 21 and 22: 19SECTOR SHOWCASEHealth & Social Se
Page 23 and 24: 21SECTOR SHOWCASESport & Recreation
Page 25 and 26: 23IN THE SPOTLIGHTMaori & Pasifika
Page 27 and 28: 25IN THE SPOTLIGHT2007-2008 Grant r
Page 29 and 30: 27IN THE SPOTLIGHTPrimary School $7
Page 31 and 32: 29 IN THE SPOTLIGHTMajor Capital Pr
Page 33: 31 THE MAIN ACTNotes:Audit report1.

2008 Annual Report - ASB Community Trust

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