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Statement of Trust Money
for the year ended 30 June 2014

Trust money is defined by section 66 of the Public Finance Act 1989 as:

  • Money that is deposited with the Crown pending the completion of a transaction or dispute and which may become repayable to the depositor or payable to the Crown or any other person.
  • All money that is paid into Court for possible repayment to the payee or a third party, by virtue of any Act, rule or authority whatsoever.
  • All money that is paid to the Crown in trust for any purpose.
  • Money that belongs to or is due to any person and is collected by the Crown pursuant to any agreement between the Crown and that person.
  • Unclaimed money that is due to or belongs to any person and is deposited with the Crown.

Trust money exists only where there is a trustee/beneficiary relationship. Money set aside by the Crown or department for a particular purpose will normally not be trust money as there is no directly identifiable beneficiary who has deposited the money with the Crown.

Trust money held by the Crown is managed separately from public money.

Under the Act, the Treasury has the responsibility to manage and invest trust money. The Treasury may appoint agents (including departments) to act on its behalf. Written Notices of Appointment to Manage and Invest Trust Money are issued in these cases. Section 68 of the Act establishes the constraints on the investment of trust money.

Amounts in this statement are expressed in thousands of dollars.


Department
 Trust Account 

As at
30 June 2013
$000
Contributions
$000
Distributions
$000
Revenue
$000
Expenses
$000
As at
30 June 2014
$000

Department of Conservation

Bonds/Deposits Trust  7,743  147 (327)  216  -  7,779
Conservation Project Trust  1,112  718 (534)  19  -  1,315
National Parks Trust  90  60  (30)  1  -  121
Walkways Trust  10 1  -  -  -  11
Wildlife and Reserves Trusts [31]  -  -  -  -  -  -

Department of Corrections

Prisons Trust  1,756  15,646  (15,048)  -  -  2,354

Crown Law Office

Legal Claims Trust  206  848 (772)  2  -  284

Ministry of Business, Innovation and Employment

Certifiers Bond Trust  81  -  (81)  -  -  -
Licensed Building Practitioners Trust  20  242 (230)  -  (4)  28
Residential Tenancies Bond Trust  390,715  195,935 (165,900)  20,132  (20,132)  420,750
Residential Tenancies Bond Trust No. 31  4  -  -  -  -  4
Weathertight Services Financial Assistance Trust  -  3,764  (3,764)  -  -  -
Employment Relations Service Trust  -  -  -  -  -  -
Employment Relations Act Security of Costs Trust  -  -  -  -  -  -
New Zealand Immigration Service Trust  1,692  566 (740)  27  (2)  1,543
Coal and Minerals Deposits Trust  107  -  (40)  10  -  77
Criminal Assets Management and Enforcement Regulators Association Trust  12 3  -  -  -  15
Official Assignee's Office Trust 17,558  69,644  (53,662)  750  (10,514) 23,776
Patent Co-operation Treaty Fees Trust  99  1,137  (1,142)  5  -  99
Petroleum Deposits Trust  91 1  (11)  -  -  81
Proceeds of Crime Trust 32,382  47,255  (25,850)  1,054  (6,737) 48,104
Radio Frequencies Tender Trust  226  -  -  -  -  226

Ministry of Culture and Heritage

New Zealand Oral History Awards Trust  1,176  - (151)  44  -  1,069
Dictionary of New Zealand Biography Trust  14  -  -  -  -  14
New Zealand Historical Atlas Trust  137  -  -  5  -  142
New Zealand History Research Trust  1,527  -  (80)  65  -  1,512
War History Trust  1,054  -  -  24  (604)  474

New Zealand Customs Services

Alcohol Liquor Advisory Council Trust  765  14,467  (13,917)  -  -  1,315
Customs Regional Deposit/Bonds Trust No.1, No.2 & No.3  5,913  41,527  (37,823)  -  -  9,617
Heavy Engineering Research Association Trust  73  1,505  (1,415)  -  -  163
Maritime Safety Authority Trust 31  -  -  -  -  -  -
New Zealand Customs Service Multiple Deposit Scheme Release Trust  74  38,014  (37,976)  -  -  112
New Zealand Customs Service Multiple Deposit Scheme Suspense Trust  16  41,573  (41,577)  -  -  12

Ministry of Education

Code of Practice for Providers who Enrol International Students Trust  2,314  3,717  (2,756)  193  (42)  3,426
Conferences Trust  2  -  -  -  -  2

Ministry of Foreign Affairs and Trade

Cook Island Trust  220  2,069  (2,070)  12  -  231
Fred Hollows Foundation New Zealand - Pacific Regional Blindness Prevention Programme Trust  9  798  -  1  -  808
Government Administration Building, Niue Trust  284  -  -  4  -  288
Niue Primary School Infrastructure Project Trust  5,314  -  -  84  -  5,398
Kiribati Sustainable Towns Programme Trust  5  -  (5)  -  -  -
New Zealand/France Friendship Trust  12  180 (164)  -  (12)  16
Afghanistan New Zealand Aid Programme Trust  684  2,642  (2,730)  13  -  609
Tuvalu Ship to Shore Transport Project Trust  -  1,514  -  -  -  1,514

Ministry of Health

Health Benefits Offices Trust  883  6,768,710 (6,768,705)  -  (13)  875
Medicines Review Objectors Deposit  -  -  -  -  -  -

Inland Revenue Department

Child Support Agency Trust 22,000  235,378 (239,984)  -  - 17,394
KiwiSaver Employer Trust 31  -  -  -  -  -  -
KiwiSaver Returned Transactions Trust  273  (229)  -  -  -  44
Reciprocal Child Support Agreement Trust  337  11,802  (11,743)  -  -  396

Department of Internal Affairs

Christchurch Earthquake Appeal Trust 54,944  1,867  (47,845)  1,991  (1,842)  9,115
Interloan Billing System Trust  58  -  -  404  (422)  40
Macklin Bequest Fund Trust  290  13  -  11  (28)  286
New Zealand 1990 Scholarship Trust  743  -  -  20  -  763
Vogel House Trust 31  -  -  -  -  -  -

Ministry of Justice

Courts Law Trust 10,558  18,321  (14,393)  -  - 14,486
Election Candidates Deposit Trust 31  -  -  -  -  -  -
Employment Court Trust  176  822 (303)  -  -  695
Fines Trust 33,552  347,672 (340,634)  -  - 40,590
Foreign Currency Euro Fund Trust 31  -  -  -  -  -  -
Foreign Currency United States Dollar Trust  -  -  -  -  -  -
Legal Complaints Review Officer Trust  335 2 (331)  -  -  6
Maori Land Court Trust  61 3  (4)  -  -  60
Supreme Court Trust  62  81  (42)  -  -  101
Victims' Claims Trust  43  -  (43)  -  -  -

Land Information New Zealand

Crown Forestry Licences Trust  453  9,495  (9,840)  -  -  108
Deposits Trust  -  -  -  -  -  -
Endowment Rentals Trust  1  138 (138)  -  -  1
Hunter Gift for the Settlement of Discharged Soldiers Trust  55  -  -  -  -  55

New Zealand Police

Bequests, Donations and Appeals Trust  70 1  (1)  -  -  70
Found Money Trust  95  200 (158)  -  -  137
Money in Custody Trust 10,896  5,375  (4,732)  -  - 11,539
Reparation Trust  11 1  (4)  -  -  8
Rewards Monies Trust 31  -  -  -  -  -  -

Ministry for Primary Industries

MAF Overfishing Account Trust  2,858  6,561  (6,463)  79  -  3,035
MAF Fish Forfeit Property Trust  1,233  641  -  39  -  1,913
Meat Board Levies Trust  56  64,027  (64,084)  1  -  -
Seized Timber Trust  1  -  -  -  -  1
National Animal Identification Tracing Trust  223  4,091  (4,030)  -  -  284

Ministry of Social Development

Australian Recovery Debt Trust  3  13  (14)  -  -  2
Australian Dollar Embargoed Arrears Trust  379  5,943  (5,296)  -  -  1,026
Maintenance Trust  54  533 (338)  2  -  251
Netherlands Recovery Debt Trust  1  108 (105)  -  -  4
Overseas Debt Recovery Trust 31  -  -  -  -  -  -
WR Wallace Trust  410  -  (57)  52  -  405

Ministry of Transport

Rena Settlement Proceeds Trust 27,954  -  (28,206)  252  -  -

Treasury

Trustee Act 1956 Trust  2,961  1,920 (106)  90  (85)  4,780
Mighty River Share Offer Trust  1,025  44  (1,065)  -  -  4
Meridian Share Offer Trust [32]  -  850,435 (850,369)  -  -  66
Genesis Share Offer Trust 32  -  1,039,603  (1,039,436)  -  -  167
Total  646,551  9,857,544  (9,847,264)  25,602  (40,437)  641,996

Notes

  • [31]Inoperative trust account.
  • [32]New trust account.
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