Rotorua Trust invests more than $12 million in the last year

Over the past 12 months Rotorua Trust has invested almost $13 million into the Rotorua community. Photo / Supplied

During the past year, Rotorua Trust has invested more than $12 million into the Rotorua community.

The trust has released its 2019/20 financial statements ahead of its annual general meeting on Monday. The total amount it has invested in Rotorua is $124.6 million since 1994.

Rotorua Trust chairman Steward Edward said the $12,921,160 invested into the community across the 12 months included 223 different grants – including $10 million to support the rebuild of the Rotorua Museum.

Edward said after a strong performance for most of the financial year, the trust's investment portfolio finished the year 1.6 per cent down – at $148 million – because of the significant impact of Covid-19 on financial markets around the globe during February and March.

"While it was disappointing to post a negative return for the year, we are fortunate to have a diverse portfolio which has helped limit the potential impact."

The trust's funds are currently allocated across a range of socially responsible investments including transtasman and global shares, property, infrastructure, natural resources, cash and bonds.

"Focusing on our strategic direction and our five key areas of health and the first 1000 days, education and employment, vibrancy, strengthening communities, and energy and environment, the trust has been able to support many hard-working people and organisations who are doing incredibly important mahi across our community."

Funding highlights from the past year include $1,183,330 into 71 grants to improve education and employment opportunities while $710,131 was invested in making the city more vibrant through arts, culture, and sporting activities with 56 grants.

The trust invested $586,047 into strengthening communities with 57 grants while 31 grants worth $401,477 went towards health and the first 1000 days. There were eight grants worth $40,676 in projects relating to energy and the environment.

"We have continued to collaborate with fellow funders to ensure the best possible collective outcomes are achieved for Rotorua. A feature of this was the $10 million contribution towards the restoration of Rotorua Museum."

Edward said a key event over the past 12 months was the trust's triennial election where 12,114 residents voted for trustees.

A total of 30 candidates stood in the trust elections, with four existing trustees re-elected - Edward, Tamati Coffey, Jo-Anne La Grouw and Merepeka Raukawa-Tait. They were joined on the Trust board by community stalwarts Gregg Brown and Mike Keefe.

"Our trustees have formed a tight group and are united in our commitment to making a difference over the next 12 months, in a city that has been significantly impacted by the effects of Covid-19."

The trust's AGM will be held on July 20 from 1pm at Parksyde Community Centre, Tarewa Pl. Light refreshments will be served from 12.30pm ahead of the meeting.