Notes to the Performance Report 2024 2023 6. Accumulated Funds Accumulated Funds Opening Balance Surplus/(Deficit) Total Accumulated Funds 6,444,222 426,727 6,870,949 2024 7. Breakdown of Reserves Reserves Goodman Fielder Wattie Limited New Zealand Rugby Total Reserves 6,226,987 217,235 6,444,222 2023 1,000,000 1,000,000 2,000,000 1,000,000 1,000,000 2,000,000 In the 1987 Annual Report "The success of the Foundation has been assured by the generous participation of Goodman Fielder Wattie Limited contracting to the sum of $1 million." The President's report continues, It is the policy of the Foundation not to dissipate it's funds but to provide any support from fund income." Funding agreement of 2000, and a further variation in 2003. The funding agreement states; "The funding be retained as a capital sum so that the Foundation may only expend income earned from the investment of the funding." 8. Commitments 2024 Description Injured Player Grants Office Rent Total Nature of Commitment Grants approved in 2024 to be paid in 2025 The Foundation leases office space at Sport Auckland House, the agreement may be terminated by either party giving six months written notice 15,750 15,750 - Within one year Between one to five years - - - 2023 Description Injured Player Grants Office Rent Total Nature of Commitment Grants approved in 2023 to be paid in 2024 14,020 The Foundation leases office space at Sport Auckland House, the agreement may be terminated by either party giving six months written notice - 15,750 29,770 - Within one year Between one to five years - NEW ZEALAND RUGBY FOUNDATION INC. CC42547 29
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