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Chair's Report to 2017 Annual General Meeting

This is my fifth report as Chair of the Trust and as in past years I would like to take this opportunity to thank all of the Trustees for their ongoing support for yet another very successful year for the Trust.

Financial

The slowdown of the equities market has had a negative impact on our financial surplus for the year – it was down to $348,433 versus $541,807 for the last financial year. We have transferred $139,373 of that to the Educational Purposes Reserve for future educational obligations and this Reserve now stands at $693,887. The Trust now has assets of $6,430,647 of which $693,887 is reserved for Educational Purposes and there is a net capital base of $5,736,760.

The Science, Technology and Emerging Industries Scholarship

We reverted to our normal criteria this year and awarded 19 scholarships with a total value of $109,250 (last year we awarded an extra scholarship to each school in our catchment area to celebrate 15 years of the scholarship and surpassing the milestone of over $1 million in scholarships awarded to date).

So far 271 scholars have gained scholarships and the total scholarships granted to date are $1,262,750.

Publicity

We continue to use Monique to publicise the Trust’s activities in the local newspapers and tabloids to raise the Trust’s profile. Our upgraded website is now working and better reflects the workings of The Trust.

Future Leaders Program

This very successful program was run again in 2016 and is now into its ninth year and continues with Phil Lawrence as the presenter. The Programme is aimed at Year 12 and 13 students from each College in our catchment area and gives them the opportunity to grow their leadership skills. The Programme comprises 3 full day workshops during Year 12 and a half day workshop in Year 13. In between workshops students have tasks to complete and are mentored by Phil.

Instep

This year we increased our Grant to $20,000 to Instep and are excited at the contribution the programme provides students in decisions towards full time employment and into worthwhile careers. We have committed in concept to support Toi EDA for a similar initiative in the Eastern BOP when they have launched the program.

Trustees

We were sad to see Michael Batchelor retire at our last AGM – Michael has been a Trustee for over thirty years and was elected to the Board at the very first meeting of the Trust. Michael served the Trust in all things legal and has been a very active trustee for the entire life of the Trust. A new position was formed to recognise this service and I am proud to write that Michael was appointed the first Emeritus Trustee of our Trust.

I am pleased to welcome Richard Dey as a new Trustee to the Trust. Richard is a partner of the local accounting firm, Ingham Mora Limited, and is already contributing significantly to the Trust.

Roger Loveridge
Chair
Bay of Plenty Education Trust

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