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Statement of Trust Money
for the year ended 30 June 2016

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.

Department
  Trust Account
As at
30 June 2015
$000
Contributions
$000
Distributions
$000
Revenue
$000
Expenses
$000
As at
30 June 2016
$000

Department of Conservation

           
Bonds/Deposits Trust 7,256 54  (758) 234 -   6,786
Conservation Project Trust 1,275 530  (790) 49 -   1,064
National Parks Trust 139 79  (76) 3 -   145
Walkways Trust 11 -   -   -   -   11
Wildlife and Reserves Trusts 1 -   -   -   -   -   -  

Department of Corrections

           
Prisons Trust 2,188 13,819  (14,569) -   -   1,438
Crown Law Office            
Legal Claims Trust 253 656  (370) 8  (2) 545

Ministry of Business, Innovation and Employment

           
Coal and Minerals Deposits Trust 64 4  (6) -   -   62
Criminal Assets Management and Enforcement Regulators Association Trust 16 5 -   -   -   21
Employment Relations Service Trust 58 465  (177) 2  (26) 322
Employment Relations Act Security of Costs Trust 4 42 -   -   -   46
New Zealand Immigration Service Trust 1,302 259 (342) 33 - 1,252
Official Assignee's Office Trust 28,407 22,322 (14,711) 864 (13,629) 23,253
Patent Co-operation Treaty Fees Trust 134 1,109 (1,098) 4 (28) 121
Petroleum Deposits Trust 81 - - - - 81
Proceeds of Crime Trust 63,551 24,458 (14,036) 1,323 (10,979) 64,317
Radio Frequencies Tender Trust 226 10 (17) - - 219
Residential Tenancies Bond Trust 457,535 230,952 (220,822) 22,694 (22,694) 467,665
Weathertight Services Financial Assistance Trust - 6,429 (6,429) - - -

Ministry of Culture and Heritage

           
Dictionary of New Zealand Biography Trust 14 - - 1 - 15
New Zealand Historical Atlas Trust 147 - - 5 - 152
New Zealand History Research Trust 1,499 - (134) 56 - 1,421
New Zealand Oral History Awards Trust 970 - (122) 32 - 880
War History Trust 290 - - 8 (199) 99
National War Memorial Trust 2 - 8 - - - 8

New Zealand Customs Services

           
Customs Regional Deposit/Bonds Trust No.1, No.2 & No.3 78,417 33,540 (89,856) - - 22,101
Health Promotion Agency Trust 968 12,984 (12,959) - - 993
Heavy Engineering Research Association Trust 148 1,773 (1,782) - - 139
Maritime Safety Authority Trust 1 - - - - - -
New Zealand Customs Service IBM MSA Trust - 37,041 - - - 37,041
New Zealand Customs Service Multiple Deposit Scheme Release Trust 524 90,407 (90,734) - - 197
New Zealand Customs Service Multiple Deposit Scheme Suspense Trust 266 33,298 (33,558) - - 6
  1. Inoperative trust account
  2. New trust account
Department  
Trust Account
As at
30 June 2015
$000
Contributions
$000
Distributions
$000
Revenue
$000
Expenses
$000
As at
30 June 2016
$000

Ministry of Education

Code of Practice for Providers who Enrol International Students Trust 4,832 5,019 (2,466) 149 (423) 7,111
Conferences Trust 2 - - - - 2
Ngārimu VC and 28th (Māori) Battalion Memorial Scholarship Fund Board Trust  2 - - - - - -

Ministry of Foreign Affairs and Trade

Afghanistan New Zealand Aid Programme Trust 412 - (412) 3 - 3
Cook Island Trust 231 1,919 (1,843) 21 (97) 231
Fred Hollows Foundation New Zealand Pacific Regional Blindness Prevention Programme Trust    3 - (3) - - -
Government Administration Building, Niue Trust 293 - (235) 7 - 65
New Zealand/France Friendship Trust 66 133 (152) 1 (12) 36
Niue Primary School Infrastructure Project Trust 1,927 1,400 (2,952) 36 - 411
Niue Development Assistance Trust 2,972 1,504 (1,676) 64 - 2,864

Ministry of Health

District Health Boards Deposit Trust 1,088 7,324,487 (7,324,151) - (500) 924
Medicines Review Objectors Deposit Trust 1 - - - - - -

Inland Revenue Department

Child Support Agency Trust 16,199 272,161 (276,645) - - 11,715
KiwiSaver Returned Transactions Trust 146 (102) - - - 44
KiwiSaver Employer Trust  1 - - - - - -
Reciprocal Child Support Agreement Trust 438 13,696 (13,695) - - 439

Department of Internal Affairs

Christchurch Earthquake Appeal Trust 7,191 5,856 (12,883) 2,214 - 2,378
Interloan Billing System Trust 79 - (36) 713 (713) 43
Macklin Bequest Fund Trust  285 - - 8 - 293
New Zealand 1990 Scholarship Trust  1 - - - - - -

Ministry of Justice

Courts Law Trust  18,023 16,568 (24,256) - - 10,335
Election Candidates Deposit Trust  1 - - - - - -
Employment Court Trust 350 321 (402) - - 269
Fines Trust  38,367 187,150 (184,421) - - 41,096
Foreign Currency Euro Fund Trust  1 - - - - - -
Foreign Currency United States Dollar Trust  1 - - - - - -
Legal Complaints Review Officer Trust 1 - (1) - - -
Maori Land Court Trust  43 6 (4) - - 45
Supreme Court Trust 52 100 (58) - - 94
Victims' Claims Trust 4 184 (122) - - 66
  1. Inoperative trust account
  2. New trust account
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