New Zealand Rugby Foundation Incorporated Notes to the Performance Report For the year ended 31 December 2017
Note 5: Accumulated Funds 2017
Description Opening Balance Surplus/(Deficit) Closing Balance
Capital Contributed by Owners or Members -
Accumulated Surpluses or Deficits 2,734,692 395,368 3,130,060
Reserves 2,000,000
Accumulated Surpluses or Deficits 2,503,531 231,161 2,734,692
Reserves 2,000,000
2,000,000
Total 4,734,692 395,368 5,130,060
2016
Description Opening Balance Surplus/(Deficit) Closing Balance
Capital Contributed by Owners or Members -
Breakdown of Reserves Nature and Purpose Name Goodman Fielder Wattie In the 1987 Annual Report “The Limited success of the Foundation has been assured by the generous participation of Goodman Fielder Wattie Limited contracting to the sum of $1 million.” The President’s report continues, It is the policy of the Foundation not to dissipate it’s funds but to provide any support from fund income.” New Zealand Rugby
Funding agreement of 2000, and a further variation in 2003. The funding agreement states; “The funding be retained as a capital sum so that the Foundation may only expend income earned from the investment of the funding.” Total
2,000,000
Total 4,503,531 231,161 4,734,692
2017
2016
$
$
1,000,000
1,000,000
1,000,000
1,000,000
2,000,000
2,000,000
NEW ZEALAND RUGBY FOUNDATION INCORPORATED CC42547 ANNUAL REPORT 2017
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