The Hutt Mana Charitable Trust’s persistent late filing of financial returns risks it being struck off by the Charities Commission, losing its tax exemption status.
The trust looks after about $35 million of assets – the last remnants of the carve-up of power boards in the 1990s – on behalf of Hutt Valley, Porirua and north Wellington people. Its own deed requires a set of financial accounts to be audited and an annual meeting held within five months of the end of its financial year (June 30).
Charities Commission rules allow six months to file returns.
Trust chairman Ian Hutchings said the 2010-2011 accounts were finally signed off last week – nine months after the nominal balance date.
Hutt News put it to him that since the inception of HMCT and its forerunner the Hutt Mana Energy Trust, the accounts and annual meeting have always been late.
Hutt News Story by Simon Edwards. 03 April 2012 [Read more…]