Tēnā koutou, tēnā koutou, tēnā koutou katoa Greetings, greetings, greetings to you all. Otago Community Trust recently hosted its 32nd Annual Public Meeting at the Dunedin Public Art Gallery.

The meeting was well attended with over 50 members of the community in attendance. Unfortunately our meeting which was orginally scheduled for August was delayed due to restrictions imposed by the region returning to COVID Alert Level 2.

We would like to take this opportunity to thank everyone who took the time to attend. It was our pleasure to share our activities, achievements and highlights for the year to 31 March 2020. 

The 2020 Annual Report and financial statements is now available to download from our website HERE

Granting Highlights

We were pleased to report that trustees last year approved grants totalling just over $11.5m and our small dedicated grants team processed over 650 individual grant applications for the year to 31 March 2020.

The Trust continued its support of priority areas including Warm Homes, Regionally Significant Cycle Ways and Youth Health, Wellbeing and Employment.

Otago Community Trust made a number of significant grants in the 12 months to 31 March 2020, namely:

• $500,000 to Clutha Gold Trail Charitable Trust
• $500,000 to South Otago Principals, 'Kāhui Ako' Cluster
• $500,000 to Bone Marrow Cancer Trust
• $475,000 to the Order of St John South Island Region
• $365,000 to Tennis Otago
• $242,805 to Mornington School, Nga Tapa Wha Cluster
  

2020 Financial Year Highlights

From an investment perspective the year to 31 March 2020 was a challenging year for Otago Community Trust’s investment portfolio, and whilst our reserves remain robust, the Trust reported a negative return for the year of -1.2%. 

As at 31st March 2020, Trust funds sat at $270.7m down from $287.8m in 2019.

The grants budget for the 2020-21 year therefore has been provisionally set at a slight decrease on recent years at $9m, which includes an allowance to our now closed COVID-19 Response Fund.

New Initiatives 

Boundary Adjustment Proposal

After years of discussion Community Trust South and Otago Community Trust agreed and received Government approval for an alteration to their common boundary.

The new boundary adjustment extends the Community Trust South area to include the portion of the Southland District up to Awarua Point the northern boundary of Fiordland and extends the area within Queenstown Lakes District to include the whole of the Queenstown Ward area.

The main reason that Community Trust South sought a change to the boundary was to regularise what most people probably think was already the case that Milford, with its link to Southland, was already part of the Southland area.

Further detailed information to better understand the proposed boundary adjustment is on the Trust website HERE. 

Farewells

We have recently farewelled Ross McRobie, Kate Hazlett and John Wilson as Trustees. We would like to thank Ross, Kate and John for their excellent and valuable contribution to the Trust over the years. Ross and more recently John have provided the Trust with strong leadership and direction in their role as chair and this has been greatly appreciated.

We also thank Kate Hazlett for her strong advocacy for our smaller rural communities.

Looking Ahead

No one could have predicted that our year would have ended in such dramatic circumstances. COVID-19 has had a huge impact on almost every area of our lives and continues to significantly impact our communities.

As we move forward in uncertain times, our commitment to Otago is that we will continue to responsibly manage and wisely share Trust resources to ensure that Otago communities are strong, healthy, and vibrant. 

For the six months ended 30th September 2020, we are pleased to report that Trust funds have recovered substantially from their low of 31 March 2020. While market fluctuations will continue, we firmly believe that our strong investment governance structures will help to ensure good long-term results.

On behalf of the staff and trustees, we would like to thank everyone who works so hard to ensure sustained, positive impact for Otago. We look forward to working together with our communities and rising to the challenges ahead.

Diccon Sim - Chair  | Otago Community Trust

Barbara Bridger - Chief Executive | Otago Community Trust