Western Bay community organisations in line for $6.8m funding boost

BayTrust chief executive Alastair Rhodes. Photo/File

A "record" $6.8 million worth of funding will be available to Western Bay of Plenty community organisations next year.

BayTrust chairman Kenneth Brown said they were able to increase their funding for 2019 to a record $6.8m because of their strong balance sheet.

A total of $5.9m was distributed between 199 different organisations in the past financial year.

BayTrust's investment portfolio returned $17m (8 per cent) in the past year following a "stellar performance" the year prior, with total equity now sitting at $213.5m.

Brown said BayTrust more than adequately covered their expenses and granting ($8.5m) for the year as a result of their strong financial returns.

The BayTrust Board and investment advisers Cambridge Associates were cautious around the future returns with increasing volatility experienced in the financial markets, Brown said.

"However, we are thrilled to be in a position where we can help more community organisations deliver projects and services that make a huge difference to Bay of Plenty residents' lives," he said.

BayTrust chief executive Alastair Rhodes said an in-depth review of outcome areas and funding priorities had been carried out, which concluded they were well-aligned with the community's wants and needs.

"Going forward we will look to support more innovative ideas and projects, and work in a true partnership manner with many organisations including increasing our multi-year funding and introducing a new Community Amenities Fund which is an exciting prospect," he said.

The Community Amenities Fund will grant between $100,000 to $300,000 to capital projects that deliver new permanent facilities, or upgrade and preserve existing community and environmental assets.

Along with grants, BayTrust provided other significant community support during the year including capacity-building opportunities such as workshops which were extremely well-received.

A copy of this year's annual report is available on BayTrust's website www.baytrust.org.nz

WHO GOT WHAT?
- Coastguard Eastern Region were given $167,430
- ICONZ Edge, a Tauranga mentoring programme which helps young boys develop self-belief, resilience and a better attitude towards life and learning, was also able to expand their reach into more schools thanks to a $15,000 grant.