Otago Community Trust Annual Report
It is with pleasure that we present Otago Community Trust’s Annual Report for the 2022 financial year. As we reflect on the past year, we acknowledge the significant challenges, constant change, and the increasing need for our communities to be adaptable. We applaud our community groups for their ongoing flexibility and unwavering commitment.
Over the past year we have continued to work with our communities to support significant capital projects, social service and welfare programmes, and community response activities.
Trustees approved over $10.3m in grants for the year ending 31 March 2022, supporting 386 community groups around Otago.
From an investment perspective it was a challenging year for the Trust’s portfolio. Recession fears and central-bank tightening have largely driven market volatility and thus the annual return for the year ending 31 March 2022 was 0.3%. Trust funds were valued at $309m at 31st March 2022.
While an environment of uncertain investment returns may continue, we firmly believe that our sound reserving position and strong investment governance structures allow the Trust to have confidence in the long-term performance of the fund. This also has allowed us to set a strong grants budget of $10m for the year ahead ensuring we continue to support our communities in these challenging times.
The full 2022 Annual Report can be viewed on our website by following the link below or you can download the PDF attached.