2016 - October
We have submitted our financial statements for the 2015/16 tax year (period ended 31 March 2016) to the Inland Revenue Department, via our new accounting agent Brenda Ryan from BJR Accounting Ltd. It's been good to get someone cast a fresh set of eyes over the finances, and she's been able to make some suggested improvements about how we do our financial reporting, which is really helpful. The finances are for the Manawatu Kukutauaki No. 3 Section 2B1 Trust, as 2E5 has no financial transactions (2E5 is the parcel of land that's under the Department of Conservation Covenant and is the wetlands restoration area).
In summary, the trust is in good health and we are totally up-to-date with our commitments to the IRD, and Brenda has made a provision for the 2016 tax due (just FYI only the net profit, less the tax due is available to be eventually distributed to beneficiaries). Brenda's picked up a small adjustment to the 2015 accounts around the RWT moving it from the P&L statement, which does not affect the net profit or undistributed shares total.
A full copy of the financial statements will be presented at the Trust's AGM (it's a combined AGM for both 2E5 and 2B1 trusts), which is at 10:00am on Saturday 10th December at the Kereru Marae. I've had a few queries about what's happening with the land and trusts, and I'd like us to have a korero about what our next decade's work plan is for the trust at this AGM. So it would be great if people can make an effort to come to this AGM. Please also let other whānau members know that it's on.
In the November update, we will update you about the wetlands work that's been happening with DOC, and we are looking to have a planting day with DOC on the date of the AGM (so it's a combined event - AGM, planting, and then a hakari at the marae afterwards).
Mauri ora whānau,
Johnny McGregor
Chairman