Otago Community Trust has finished the financial year in an ‘‘extremely comfortable’’ position, its chairman says.
Yesterday the trust held its annual public meeting in Dunedin, where chairman Diccon Sim and chief executive Barbara Bridger updated stakeholders and trustees on its performance over the past year.
The trust had a $57.9 million return on its investment for the year ending March 31, up 21.8% on the previous year.
After it gave out $8.6 million in grants over the year, it ended the year with a $48.5 million surplus, from a deficit of $17 million the year before.
The trust’s finances were in an ‘‘extremely comfortable position and the trust would ensure the money was used to ensure inter-generational fairness, Mr Sim said.
He told the meeting the trust appointed a new community engagement adviser, Liz Harburg, to look at communities the trust was not engaged with.
Last year the trust set up a Covid-19 response fund which gave $710,000 in a two-month period to 44 organisations, Ms Bridger said.
The trust undertook three significant projects: the Clutha Parks Trust, with a $300,000 grant to assist developing the Naish and Centennial Park playground, a $180,000 grant went to the Harington Point Community Society Inc to support the Te Rauone Beach project and Friends of Alps 2 Ocean Incorporated received a $177,297 grant to construct the long-awaited clip-on bridge for Awahokomo Stream.
