Statement of Financial Performance

Profit and Loss Statement at 30 June 2019

Income	2019	2018
Projects	1 161,524	162,583
Operational Grants & Donations	2 92,455	121,729
WINZ Subsidies	–	2,685
Landowner Contributions	7,174	8,528
Plants	252	252
Office Grant	14,685	17,500
Interest	2,198	–
TOTAL INCOME	278,317	313,278

Expenses	2019	2018
Direct Labour – Control	162,039	169,065
Direct Labour – Reporting & Liaison	19,246	28,626
Materials	13,544	16,059
Mileage	8,309	9,949
Training	885	4,812
Field Expenses	4,759	7,811
Other Unallocated Wages	32,110	24,457
Rent	4,693	4,693
Insurance	1,356	1,872
Printing, Stationery & Postage	1,589	1,464
Computer	1,633	3,054
Accounting	6,248	4,510
Legal	10,023	8,009
Travel & Accommodation	511	3,000
Other Expenses	2,708	1,844
Depreciation	2,751	4,059
Provision for legal settlement	–	15,000
TOTAL EXPENSES	272,404	311,285

SURPLUS	5,913	1992

Balance Sheet at 30 June 2019

Assets	2019	2018
Current Assets
Bank Accounts
PDVT NBS Bank Account	190,551	167,317
Petty Cash/Cash On Hand	7	61
Other Current Assets
Accrued Income	–	–
Trade Debtors	25,111	56,647
Work in Progress	3 6,989	6,989
Prepayments	3,795	1,356
Inventory	1,810	1,487
Total Current Assets	228,263	233,857
Fixed Assets
Furniture	152	181
Computers	923	2,016
Field Equipment	1,308	2,154
Total Fixed Assets	2,383	4,352

Total Assets	230,646	238,208

Liabilities	2019	2018
Current Liabilities
GST	6,630	23,309
PAYE	3,117	2,931
Trade Creditors	2,391	3,543
Gem Visa	–	1,751
Income in Advance	4 148,515	151,631
Expense Accruals	8,500	–
Holiday Pay Owed	2,918	2,441
Provision for Legal Claim	15,000	15,000
Total Liabilities	187,131	200,606

Net Assets	43,515	37,602

Opening Equity	37,602	35,609
Current Year’s Surplus	5,913	1,993
Total Equity	43,515	37,602

Notes to the Financial Statements

For the year ended 30 June 2019

Projects consist of contracted work that generates surplus.
Grants are from various funders that do not involve surplus.
Work in progress is for the expenses incurred relating to PDVT’s new geospatial database system.
Income in advance involves various grants, such as the Lottery grant and the DOC community fund grant, received in advance to be used for the 2020 and 2021 financial years.

Project De-Vine Trust generated a surplus of $5,913 in the financial year ended 30 June 2019.

The provision for legal settlement in FY2018 was allowing for expenses that might incur in FY2019, relating to the legal issue faced by the Trust during FY2018 and was anticipated to end in FY2019. As the legal issue ended in PDVT’s favour in Sep 2019, the provision for legal settlement was no longer required in FY2019. PDVT has hired the largest provider of employment regulations and workplace health and safety advice in NZ and anticipates no more legal issues relating to employment issues.

The reduction of training expenses shows the over-expenditure by the previous Operations Manager for her various trainings in FY2018 and that the existing workers did not have to renew their qualifications in FY2019.