Notes to the Financial Statements (continued)

for the year ended 30 September 2022

in New Zealand Dollars

5. Cash and deposits

Bank accounts and deposits are held with major New Zealand trading banks with Standard & Poor’s credit ratings of AAand have maturities under 6 months. Term deposits have maturities over 6 months. A specific security charge is held over a $100,000 bank deposit to secure the unutilised bank overdraft facility.

6. Investments

The sale proceeds after commission and marketing expense from the sale of Chancery Chambers has been invested into the New Building Fund. The New Building Fund is a conservative fund for the purchase of a new building. The Operational Fund has a balanced growth risk profile. Investments are independently managed by Forsyth Barr.