Grant for trust
A $50,000 New Zealand Lotteries Board grant will be used by the Canterbury Aged People’s Welfare Council to set up a trust fund. The receipt of the grant was announced at the sixmonthly meeting of the council yesterday. The secretary-manager of the council, Mr J. J. Chadderton said after the meeting that the trust fund would be allowed to accumulate to a level where it would be able .
to generate enough income to cover the running costs of the council. Bequests and gifts received by the council will be paid into the trust but Mr Chadderton said it would be several years before it would reach a level to cover exspences. The council already had another $13,000 in legacies with which to open the trust. Local body grants and gifts usually used to cover running costs would still be used for this until the trust was able to generate enough income. Mr Chadderton said the trust would give a sense of security to the council.
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/CHP19811120.2.54
Bibliographic details
Press, 20 November 1981, Page 6
Word Count
168Grant for trust Press, 20 November 1981, Page 6
Using This Item
Stuff Ltd is the copyright owner for the Press. You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons BY-NC-SA 3.0 New Zealand licence. This newspaper is not available for commercial use without the consent of Stuff Ltd. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.
Copyright in all Footrot Flats cartoons is owned by Diogenes Designs Ltd. The National Library has been granted permission to digitise these cartoons and make them available online as part of this digitised version of the Press. You can search, browse, and print Footrot Flats cartoons for research and personal study only. Permission must be obtained from Diogenes Designs Ltd for any other use.
Acknowledgements
This newspaper was digitised in partnership with Christchurch City Libraries.