Mahitahi Hauora Annual Report 20222023 FINAL v17 - Flipbook - Page 40
Notes to the Financial Statements for the Year Ended - 30 June 2023
further shift in focus to strengthen our relevance in the new system being introduced on July 2022.
In July 2022 the Trust re-shaped and implemented their funding model and reduced infrastructure costs.
The Trust Board and Management are continuously working on aligning their strategy with the direction of the Government's
plan. However, there is risk that other organisations or models of cooperation may be favoured by stakeholders and/or the
commissioning arm of Health NZ in the future.
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
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 only external debt is lease liabilities amounting to $0.00 (2022: $1,881).
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, see Note 8. The
amounts held at reporting date were as follows:
2023
2022
$
$
-
19,899
32,759
35,229
GPSWI Funds
157,683
205,148
Kai Ora Funds
103,809
243,883
34,577
20,996
2,262
2,262
21,107
42,126
720,776
-
1,072,973
569,543
Healthy Homes Tai Tokerau
Asthma Society Northland
Child Friendly Cities Funds
Northland Youth Health Fund
Northern Community Pharmacy Strategic Development Fund
Taikorihi Locality
The funds managed on behalf of other organisations are interest-free and to be held until used or requested to return
40.