$600,000 for Wairarapa as trust back in black | Wairarapa News | Local News in Wairarapa

The Eastern and Central Community Trust has poured more than $600,000 into
Wairarapa in the latest financial year.

Trust chairwoman Doctor Claire Matthews said Wairarapa organisations
and group have collected $647,725 in donations during the latest financial
year, which included a $100,000 grant apiece for the Carterton Events centre
and the Bush Sports Park in Pahiatua.

Dr Matthews said financial results for the trust have provided a significant
turnaround in the latest financial year, with a net surplus of $24 million to
March 31 this year _ up from an $18 million deficit a year ago.

She said that while the financial situation has improved, and the trust has now
recovered more from its investments than it lost in the previous financial year,
there are still challenges ahead as global markets recover.

The Community Trust covers Poverty Bay, Hawke's Bay, Tararua, Manawatu,
Wairarapa and Horowhenua and is an independent charitable organisation that
distributes donations for the benefit of communities in its region.

Its investment policies are designed to protect the trust's assets to ensure
donations for future generations, Dr Matthews said.

During the past year, more than 800 organisations benefited from trust
donations, she said. A total of $5.6 million of donations were approved. The average
donation was $5258.

The average funding request was for $12,963, lower than the previous year
($19,985) but the total number of applications was up by 2 per cent.

The trust's assets now stand at $139.8million, Dr Matthews said, having earned
$30.3 million during the year.

Its capital base is $125.9 million and operating expenses for the year totalled
$1.08 million, which is 10 per cent below budget.

``We are hoping for a more settled financial environment in the coming year,
after facing a period of volatility and challenge,'' Dr Matthews said.

``Trustees are looking forward to continuing to support communities through
out the trust's region, providing a similar level of donations in the coming year.''

Included in donations in the past year is significant funding for regional sports
trusts, continuing support for the Summer Reading Programme, and a series of
Maths is Fun programmes.

Other significant donations throughout the year include $200,000 towards the
development of a world-class museum in Palmerston North and $100,000 for a
purpose-built community house, also in Palmerston North; and $100,000 for a mod
ern facility in Gisborne for the care of people with long-term chronic illnesses
associated with diabetes.

The Annual Public Meeting of the Eastern & Central Community Trust is
being held on August 18 from 6pm at the Havelock North Community Centre.