2008 Annual Report

On behalf of the Trustees of South Link Education Trust, I am pleased to report that we have had a successful year both in the maintenance of our Trust capital and the distribution of income to our beneficiaries.

This year we have distributed $841,772 to the benefit of General Practice in the South Island of New Zealand.

Our capital has maintained its value and stood at $11,559,527 on 30 June 2008.

Our distributions have been shared between organisations which advocate, educate and innovate within General Practice.

Specifically we have supported:

  • BPAC Inc to develop their innovative decision support tool bestpractice
  • South Link Health Inc Education programme
  • GP business model development
  • GP research
  • Medical student leadership conferences
  • IPAC conference
  • South Link Health Inc annual conference.

We have had a number of applications for funds which we have not been able to support due to lack of alignment with our objectives or our limited funds.

Our capital has continued to be safely managed by Forsyth Barr. Their performance in difficult times has been professional and competent. However, as is our policy, we are presently undertaking a three yearly review of our capital management policy and procedures. I will be able to report more fully on the outcome of this review next year.

During the year we have developed a standard form to be used by organisations applying for funds. This is available from Emma Bone our secretary or download the Request for Funding Application Form.

The financial outlook for the 2008/09 financial year appears turbulent. However, our Board is confident that we will be able to guide the Trust through this time and that we will continue to distribute funds to organisations with proposals which align with our Trust’s vision.

Stephen Brown

Stephen Brown
Board of Trustees

South Link Educational Trust

Summary of Financial Performance for the 12 months ended 30th June 2008

Income   2008 2007
Investment Income   354,265 821,108
Total Income   354,265 821,108
Operating Expenses      
Audit Fees 2,524   2,565
Trustee Fees and expenses 8,292   13,027
Consultancy 19,114   4,000
South Link Health Management Fee 10,000   10,000
Total Costs   39,930 29,592
Surplus prior to distributions   314,335 791,516
Conference Costs 100,000   372,962
Decision Support Tool 250,000   -
Education Network 300,000   -
General Expenses 1,219   597
IPAC Conference 25,000   -
Matagouri Club 5,000   -
Medical Books 1,728   787
Sponsorship 36,500   30,000
Donation – Rural Medical Immersion -   4,640
General Practice Business Survey -   10,000
GP Business Model Development 13,000   -
GP Research for General Practice 110,544   36,975
Total Distributions   842,991 455,961
Net surplus (deficit) for year   (528,656) 335,555


South Link Educational Trust

Summary of Financial Position as at 30th June 2008

ACCUMULated funds   2008 2007
Opening Accumulated Funds   12,088,183 11,752,628
Plus Surplus (Deficit) for year   (528,656) 335,555
Total Accumulated Funds   11,559,527 12,088,183
Represented by:      
Current Assets      
ASB Bank 15,544   34,606
GST Receivable 34,406   34,298
Total Current Assets   49,950 68,904
Forsyth Barr Ltd - Managed Funds   11,618,665 12,309,310
Total Assets   11,668,615 12,378,214
Less Current Liabilities      
  Accounts Payable   109,088 290,031
Net ASSETS   11,559,527 12,088,183


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