Scanner gets biggest single grant from trust

CHE BAKER
Last updated 05:00 23/07/2013

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The Central Lakes Trust has injected more than $5 million in the past year to support individuals and community groups in Central Otago and the Queenstown Lakes regions.

At the trust's general meeting in Alexandra last night chairman Sir Eion Edgar said the funding included 37 tertiary education scholarships and more than 60 grants to art projects.

The largest grant was more than $1m to Central Otago Health for the purchase of a CT scanner.

"The decision to provide full funding for the scanner and its maintenance costs for the next five years was a relatively easy one.

"This vital equipment will provide direct benefit to local residents and help make our community an even better place to be," Sir Eion said.

The total amount of grants approved since the trust's establishment in 2000 stands at $63m.

"We consider this an outstanding achievement and is a reflection of the excellent work performed by trustees and staff over the years," Sir Eion said.

The performance of the trust's investment portfolio and the growth of Pioneer Generation Ltd were two big highlights in a successful year for Central Lakes Trust.

Its diversified investment portfolio produced a return of almost $21m during the past year which included a dividend of $4.58m from Pioneer.

The 100 per cent shareholding of Pioneer formed an integral and important component of the trust's investments.

Trust chief executive officer Paul Allison said during the past year $316,183 of grants were allocated to the arts and culture sector, $395,932 to education, $499,300 to heritage and environment, $1,427,309 recreation and sport and $2,439,965 to welfare and health.

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