129.042 Mahitahi Hauora Annual Report 2024-25_Spreadsv07 - Flipbook - Page 49
Notes to the Financial Statements for the Year Ended - 30 June 2025
14. Capital Management
The Trust’s capital is its accumulated revenue and expense. Equity is represented by net assets. The Trust looks to break even
each year and contracts its health service providers at values similar to the funding it receives. Management administration fees
are utilized to cover the costs of administering the contracts and general overheads. The Trust manages its general 昀椀nancial
dealings prudently in compliance with the budgetary processes and Board 昀椀nancial policies.
The Trust’s policies and objectives of managing the equity is to ensure that it achieves its goals and objectives whilst maintaining
a strong capital base. Capital is managed in accordance with the Board’s Treasury policy and is regularly reviewed by the Board.
The Trust does not have any external debt in the current and prior year.
15. Funds Held on Behalf of Other Parties
Funds managed on behalf of other organisations are excluded from the Statement of Comprehensive Revenue and Expenses as
the Trust only acts as an agent for the funding organisations. These amounts are included in cash in bank and are restricted cash,
see Note 8. The amounts held at reporting date were as follows:
2025
2024
$
$
7,158
7,158
GPSWI Funds
142,672
146,818
Kai Ora Funds
255,745
171,394
Child Friendly Cities Funds
5,507
5,557
Northland Youth Health Fund
2,262
2,262
Northern Community Pharmacy Strategic Development Fund
1,565
5,207
431,775
548,855
846,684
887,251
Asthma Society Northland
Taikorihi Locality
The funds managed on behalf of other organisations is interest-free and to be held until used or requested to return.
16. Deferred Revenue
Deferred revenue relates to funds received from the Crown to fund various programmes which have not yet been expended at
year-end and which contain conditions surrounding the use and/or refund of unspent funds. The deferred revenue reflects the
contractual obligations to spend these funds on speci昀椀c projects. The funds associated with this income are restricted for use in
accordance with the obligations. These funds are recognised as revenue when the contracted services are delivered.
Deferred revenue relates to funding received for:
2025
2024
$
$
5,341,765
7,174,562
5,341,765
7,174,562
Funding budgeted for utilisation in the next 昀椀nancial year
(current liability)
5,341,765
7,174,562
Total Deferred Revenue
5,341,765
7,174,562
Other Primary Health Programmes
49.
