Statement to Accompany the Report of the Church Property Trustees

The fieldwork on the financial statements of the Amalgamated Investment Fund and the Beneficiary Fund for the year ended 30 June 2004 and all work associated with the audit of these statements has been completed.

The inter-relationship of these accounts with the General Assembly Funds leaves the Trustees in a position where the signing of the audit opinion needs to be deferred until the General Assembly Funds audit is completed. This is not expected to have any material effect.

A commentary on any variances between the accounts tabled and the final audited statements will be provided to the Council of Assembly, to all Presbyteries/UDC’s, Commissioners and Parishes as soon as practical following the signing of the auditors certificate.

The audited statements for the period ended 30 June 2003 are attached to the Trustees report.

The audited financial statements of each of the farming trusts for the year ended 30 June 2004 are also circulated herewith.

Margaret N Galt
Chairperson

E Douglas Langford
Secretary

Presbyterian Church of Aotearoa New Zealand

Statement to Accompany the Report of the Church Property Trustees