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Public Trustee

Financial statistics
Profit before income tax equivalents: $14 000
   
Fees and charges revenue: $21 million
   
Number of FTEs: 170.24
   
Number of estates under administration: 7805
   
Total value of trust funds under administration: $1.4 billion

Significant events and transactions

Public Trustee approved a change to its investment portfolio strategic asset allocation in 2015-16, increasing the allocation of funds to the Property common fund. This change led to an increase in the value of Property common fund assets of $22 million, with a comparable decrease in assets held in the Overseas Shares common fund to rebalance the portfolio.


Financial statement opinion
Unmodified

Financial controls opinion
Modified
Key issue:
  • Estates expenditure sample testing for appropriate authorisation not being performed