2011 Annual Report - St John's in the City

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ST JOHN'S IN THE CITY
NOTES TO FINANCIAL STATEMENTS for the year ended 30 June 2011 (continued)
Commercial Buildings 50 years
Building Improvements 3-10 years
Website 3 years
Legacies
Legacies and Bequests are included within the Reserves of the Church. New Legacies, and income and expenditure specifically relating to
legacies are recorded in the Statement of Financial Performance. The net surplus or deficit for the legacies in the period is transferred from
unallocated reserves to the legacies.
Edna Carter Funds
Income from the Edna Carter Special Assistance Fund is allocated to special projects. Any unspent income is carried forward to the next year
and is available to meet future special projects.
Goods and Services Tax
The financial statements have been prepared on a GST exclusive basis except for Accounts Receivable and Accounts Payable which are
disclosed GST inclusive in the Statement of Financial Position.
Taxation
St John’s in the City is exempt from Income Tax and Resident Withholding Tax by virtue of its status as a charitable organisation under Section
CB 4(1)(c) and Section CB 4(1)(e) of the Income Tax Act 2007.
Changes in Accounting Policies
There have been no changes in accounting policy. All policies have been applied on bases consistent with those used in previous years.
Note 2 – Outreach Distributions
Outreach distributions comprise:
Special Mission – Arthur & Julia
- Funds from fundraising & donations $10,933
- Underwritten by Outreach Committee $4,880
$15,813
Presbyterian Church – Myanmar $4,380
Travel costs to Myanmar $5,000
Presbyterian Support Central $5,160
Downtown Community Ministry $5,160
Beacon Trust $5,000
Mount Cook School $4,000
Wellington College $2,500
Berhampore Junior School $1,970
Open Home Foundation $1,000
Wellington Rape Crisis $1,500
Wellington Women’s Health $1,000
Total $52,483