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Chair's Report to 2012 Annual General Meeting

I have much pleasure in presenting my annual report to the Trustees of the Bay of Plenty Education Trust. As Chair I have enjoyed being part of a team of good natured and hard working trustees all of whom have shown care and attention to the details and legal requirements of a Charitable Trust.


Millennium Scholarship: Based on our criteria, this scholarship is awarded by Deans and/or Principals to tertiary students taking a science or emerging science degree at a recognised New Zealand University. I am constantly surprised at the many and varied options "science or emerging science" offer. Second year students are more likely to change at least one if not two subjects and often in a completely new direction, which does not include science. However the study of sciences, and more specifically micro/macro-biology and technology remain woefully short of student interest at all levels of tertiary study, whilst the fields of environmental and sporting science have bourgeoned. We can be proud of every recipient but must be vigilant in retaining the high standard we expect from them. In 2011 the Trust gave $87,250 in scholarships.


Investments and Financial: The Trust's accounting policy for the valuation of equity investments in property was changed from cost to registered valuation resulting in a net property revaluation of $138,538. The Corpus account stands at $4,794,129. I congratulate Peter, John and Brian for their attention to detail, their insistence on disclosure and their diligence in the good performance of this critical part of the Trust affairs. Once again I thank the steady hands of the Investment Committee.


Publicity: Monique is very familiar with our Scholarship Award Ceremonies and the Future Leaders Programme - her articles show variation and human interest combined with Kate's photography. Exposure in all tabloids and newspapers in the area continues to raise the Trust's profile.


Our website is still under utilised but offers a much needed internet profile. The website address will be incorporated onto our letterhead.


Future Leaders Programme: Now in its 5th year the 2011 FLP run by Phil Laurence presented a programme to year 13 students. The additional second year workshop was re-evaluated and social media will be used in place of this meeting. We received reviews from participants who rated their FLP experience and also provided comments on the Programme - changes have been undertaken according to these comments. Surprisingly we continue to struggle with this programme but the benefits to the students who attend are very tangible and apparent. All Principals who support the programme continue to praise the benefits of the FLP. I again urge Trustees to attend at least one session of the FLP for an hour or two.


Instep: Our grant of $10,000 is well placed with this efficient organisation that provides a great step towards full time employment for local youth into worthwhile careers.


Trustees: Trustees who came up for rotation during 2011 were Mike Batchelor and Peter Paterson - both were available for re-election and subsequently were re-elected. Patron Doug Bull continues to enjoy his input and has liaised with me in the choice of a future Eastern BOP Trustee and Doug has also been a significant mentor to me in my role as Chair. I would like my thanks to him to be recorded.


Peter Wood's professional service and personal commitment to the Trust is gratefully acknowledged. Peter continues to be the glue which holds the Trust together. I am most grateful to him and to his staff for their superb role in the Trust's success. Thank you Peter.


Peter Paterson from the Eastern Bay of Plenty has indicated his intention to retire after the 2012 AGM. My thanks to Peter for his assistance in the Scholarship Awards and in his arrangements with Colin Guthrie's transport of FLP students. Peter has always contributed to the best of his ability and I appreciate this.


Our annual Christmas function is the only opportunity to socialise with partners and spouses. The 2011 event at Phils Place was another enjoyable evening.


Many thanks to all Trustees for their individual input - each contribute in a special and diverse way. This eclecticism generates healthy debate and strengthens decision making within the Trust.


In conclusion we have achieved a reasonable financial advantage during 2011 but due to contributing factors have not quite achieved building the Trust Capital to our target of $5 million.


I am happy to conclude my tenure as Chair knowing the Trust will be in capable hands with Roger Loveridge at the helm.