Page 42 - PNMRT AnnRpt 2020

PALMERSTON NORTH MA¯ ORI RESERVE TRUST
NOTES TO AND FORMING PART OF THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2020
20. RELATED PARTIES (continued)
Trustee Remuneration
Trustee fees are determined by way of resolution at the Trust’s annual general meeting. Trustee remuneration by trustee is as follows:
2020 $
60,000 16,000 16,000 16,000 16,000 16,000 16,000 16,000 16,000
$188,000
Liz Mellish (Chairman) Jeanie Hughes
Paula King
Matthew Love-Parata Wiki Michalanney Ann Rewiti
Aisha Ross Mark Te One Takiri Cotterill
21. COMMITMENTS
2019 $
60,000 16,000 16,000 16,000 16,000 16,000 16,000 16,000 16,000
$188,000
At 31 March 2020 there is a $332,801 commitment to the completion of 22-24 Ngata Street Development (note 7). There are no further commitments at 31 March 2020 (2019: nil).
22. CONTINGENT LIABILITIES
There are no contingent liabilities as at 31 March 2020 (2019: nil).
23. EVENTS OCCURRING AFTER THE REPORTING DATE
Other than those detailed in note 17, there are no other events subsequent to the reporting date that would affect the financial statements (2019: nil).
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Palmerston North Ma¯ori Reserve Trust
ANNUAL REPORT 2020