2008 Annual Report - ASB Community Trust

02 2008 REVIEWTitiro whakamua Look aheadWith the first three-year plan behind us, the trustees have nowadopted a five-year plan to take the trust through to 2013.Throughout this period the trustees will be guided by our vision,mission, values and founding documents – the Trustee BanksRestructuring Act, the Trust Deed, and the Strategic Plan. Thesedocuments form the bed on which our three operational streamsof funding, finance, and operational support services will flow.Our vision remains unchanged, to enhance the lives of thepeople of Auckland and Northland, by wisely allocating,equitably sharing and responsibly managing the putea that wehold in trust for present and future generations to allow forintergenerational equity. We aim to bring this vision to realityby seeking innovation and excellence through the processes inwhich we engage with our communities, by listening and askingquestions to bring innovative solutions to community needs.The funding stream interacts with our community throughthe trust’s granting programme. This programme is designedto help make our communities better places for everyone tolive in, by supporting social change and seeking to balanceour support between social and economic needs with broaderrecreational, cultural and environmental requirements. Thegrants programme is now structured around ten sectors. Grantsadvisors specialising in each sector consider grant applicationsand prepare recommendations to the sector panels. Eachsector panel (which consists of six or seven trustees) will meetup to two times each year to consider staff submissions ongrant applications. The panel considers staff submissions andrecommends an application’s approval or decline to the board.Decisions on grant applications are made by the full board. Theutilisation of these smaller sector panels enables us to makebetter use of the skills and expertise which trustees bring tothe board table. We will continue to base our grant decisionmakingon policies developed from sound research of sectorpriorities, with a greater focus on deliverable outcomes.a balance between the long- and short-term horizons. Tothis end the trust has developed an investment strategydesigned to deliver an annual investment return over arolling five-year period of 5%, plus inflation. This, togetherwith the trust’s reserving policy, is expected to provide astable level of funds available for grants to our communitiesover the long term.The operational support services stream understands that,to achieve our goals, we must be committed to improvingour organisation and operations. To this end we will striveto become more flexible, responsive, outward-lookingand open in our ways of working. As trustees, we seek toendorse good governance, encourage and support goodmanagement and effective internal systems. As a learningorganisation we will use the benefits of research, evaluationand effective communication to work towards buildingstronger communities and enhancing the lives of the peopleof Tamaki o Tai Tokerau.Finally, I want to acknowledge the hard work of thethousands of volunteers who, through their strenuousefforts and dedication, make things happen out there in ourcommunities. If it wasn’t for these efforts, we would not beable to achieve the benefits for those we serve. We appreciateyour efforts. Together we look forward to a bright future forthe Tai Tokerau and Tamaki communities that we serve.Kia oraKevin Prime – ChairmanThe finance stream is charged with the responsibility ofimplementing our investment and finance strategies tomaximise the funding available to support the trust’s mission,while always being mindful of managing risk and maintaining