2005 Annual Report

Once again on behalf of the Trustees (Murray Tilyard, Graham Crombie and myself), I am pleased to present this Annual Report for the South Link Education Trust.

Our funds are invested in a balanced portfolio of asset classes and are managed on a day-to-day basis by Forsyth Barr Ltd. During the year we have met regularly with our Fund Managers and have adjusted the ratios of asset classes in line with their advice. We are pleased with the results.

In the 2004/05 financial year the Trust has assisted a number of projects:

  1. The Trust has written to the leaders of General Practice in New Zealand, to request their assistance in planning the contribution we wish to make to the global wellbeing of primary care in our country. The identified leaders were:
    • Heads of Department of General Practice at Dunedin, Christchurch, Wellington and Auckland
    • CEO of The Royal NZ College of General Practitioners
    • Chairs of ProCare Health, Pegasus Health, Wellington IPA and IPA Council of New Zealand
    • GP Council Chair for NZ Medical Association.

  2. We are investigating the provision of an 'Occasional Paper' series by different authors on the subject of 'Primary Care in New Zealand - The Future'. These papers would be presented at one of the South Link Health Inc. residential meetings and would then be published. A lecture tour may also be undertaken.
  3. The Queenstown South Link Health Inc. 'Celebration of General Practice' residential weekend, held in August 2004, was a highlight of the 2004/05 financial year. We extended our support for this initiative in 2005.
  4. The May 2005 IPAC Conference in Christchurch was supported with a major travel grant for the keynote speakers. We do not anticipate this level of continued support for future IPAC conferences.
  5. The second cycle of the 'Update General Practice Books' programme was well supported. The third and last cycle will occur in 2006 with refunds of self purchased books offered.
  6. The second cycle of the Otago Medical School 'Matagouri Club' funding was contributed.

In summary we have had a successful year without any issues requiring major expenditure of funds. The Trust's reserves have grown by a small amount.

The Trustees look forward to continued systematic expenditure of income to support General Practice in the South Island.

Stephen Brown

Stephen Brown
Board of Trustees

South Link Educational Trust

Summary of Financial Performance for the 12 months ended 30th June 2005

Income   2005 2004
Donations   - 9,500,000
Investment Income   844,941 537,239
Total Income   844,941 10,037,239
Operating Expenses      
Audit Fees 1,600   1,500
South Link Health Management Fee 10,010   -
Total Costs   11,610 1,500
Surplus prior to distributions   833,331 10,035,739
Conference Costs 125,239   -
Director of Education 12,500   -
IPAC Conference 20,000   19,173
Matagouri Club 10,000   -
Medical Books 89,856   73,446
Net operating surplus for year   257,595 92,619
Net surplus (deficit) for year   575,736 9,943,120


South Link Educational Trust

Summary of Financial Position as at 30th June 2005

ACCUMULated funds   2005 2004
Opening Accumulated Funds   9,943,120 -
Plus Surplus (Deficit) for year   575,736 9,943,120
Total Accumulated Funds   10,518,856 9,943,120
Represented by:      
Current Assets      
ASB Bank 19,216   12,900
Accounts Receivable -   8,057
GST Receivable 13,172   11,089
Total Current Assets   32,388 32,046
Forsyth Barr Ltd - Managed Funds   10,511,427 9,966,670
Total Assets   10,543,815 9,998,716
Less Current Liabilities     -
  Accounts Payable   24,959 55,596
Net ASSETS   10,518,856 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