2004 Annual Report

On behalf of the Trustees (Murray Tilyard, Graham Crombie and myself), I am pleased to present this inaugural report for the South Link Education Trust.

The Trust's funds are invested in a balanced portfolio, primarily cash and bonds with a small mix of equities and alternative asset classes to add balance. These funds are managed on a day-to­day basis by Forsyth Barr Ltd and reviewed bi-monthly by the Trustees.

At this stage the income received is allocated with one-third to direct beneficiary benefits, one­third to global education activities, and one-third to increased capital.

In the 2003/04 financial year the Trust assisted a number of projects:

  1. IPAC Conference
    The Trust sponsored the keynote speaker, Dr David Colin-Thome. Dr Colin-Thome was an excellent speaker who gave an overview of primary care developments in the United Kingdom.

  2. Otago University Matagouri Club
    The Trust has a three-year sponsorship contract with the Otago University Matagouri Club. This is a group encouraging rural interests in medical students; the long-term goal is to encourage students to consider General Practice as a career.

    Although this contract was approved in the 2003/04 financial year, the first yearly payment of $5,000 will occur in the 2004/05 financial year.

  3. Book and Journal Offer
    You will have been a recipient of our book and journal offer. We plan to repeat this offer in the 2004/05 financial year with a wider selection of resources.

  4. Queenstown Conference
    The Queenstown 'Celebration of General Practice' was funded from the 2003/04 financial year surplus as it took place after year end. This weekend came about after wide consultation with our beneficiaries, and feedback from the weekend has been positive. The Trust will consider sponsoring such a weekend in the 2004/05 financial year.

Stephen Brown

Stephen Brown
Board of Trustees

South Link Educational Trust

Summary of Financial Performance for the 14 months ended 30th June 2004

Income     2004
Donations     9,500,000
Investment Income     537,239
Total Income     10,037,239
Operating Expenses      
Audit Fees     1,500
Surplus prior to distributions     10,035,739
Medical Books 73,446    
IPAC Conference 19,173    
Net operating surplus for year     92,619
Net surplus (deficit) for year     9,943,120


South Link Educational Trust

Summary of Financial Position as at 30th June 2004

ACCUMULated funds     2004
Opening Accumulated Funds     -
Plus Surplus (Deficit) for period     9,943,120
Total Accumulated Funds     9,943,120
Represented by:      
Current Assets      
ASB Bank 12,900    
Accounts Receivable 8,057    
GST Receivable 11,089    
Total Current Assets     32,046
Forsyth Barr Ltd - Managed Funds     9,966,670
Total Assets     9,998,716
Less Current Liabilities      
  Accounts Payable     55,596
Net ASSETS     9,943,120


The above financial summaries have been extracted from the South Link Education Trust’s full financial audited accounts.  If you would like to receive a copy of the full accounts, audited by WHK, please contact Dianne Railton at South Link Health.


South Link Educational Trust 2011