C hair m a n ' s R e p o rt
Focus on Community The current set of Trustees is committed to working closely with its key stakeholders and partners to improving the quality of life on the West Coast for this generation and generations to follow. To this end I am pleased to report that your Trust approved the distribution of an impressive $7.44 million to the West Coast community during the 2011-12 financial year - a $6 million Extraordinary Distribution to the three district councils and the balance to various community projects and assets. The local district councils were required to thoroughly consult with their respective communities and ensure their distributions were consistent with the Objects of DWC’s Deed as key conditions to accepting the extraordinary distribution. Trustees are confident the substantial community grants made during the year will have a positive stimulus effect on the local economy and contribute to improving the quality of life on the West Coast. I would like to take this opportunity to sincerely thank the three district councils, the West Coast Community Trust and the Solid Energy Amateur Sports Trust for their co-operation and partnership in distributing DWC grants into the community. In the last 11 years of operation DWC has distributed almost $37 million of cash funding into the community. In addition we have a further commitment of $12 million in the form of MDI (Major District Initiative) funding.
Mapping the West Coast’s Future The Trustees have been diligently reviewing the Trust Deed throughout the year. In reviewing the Deed, Trustees are required to consult with key stakeholders and any amendments must be approved by our Settlor - Hon Bill English, Minister of Finance and Deputy Prime Minister. This process is important and necessary as the needs of the community change over time. DWC needs to remain relevant and in tune with the community it was set up to serve. We will be meeting with the Settlor in July 2012. We are also in the process of developing a long term strategy for the organisation and how DWC will assist the region. Early discussions are highlighting the need for all key entities on the West Coast, including but not limited to DWC, the local councils and business leaders, to work closer together in order to develop: (i) a region-wide Vision; and (ii) a set of targeted goals that will make the West Coast of the South Island a destination and the preferred place to Live, Work and Play.
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DEVELoPMENT WEST COAST 
Group ANNUAL REPORT 2012