The trust, which was established in 2018, set up Waitaki Whitestone Geopark Ltd in February 2019 to protect trustees from commercial risk if it undertook commercial operations on a larger scale, or entered into any investments, Ms Jansen said.
The company had been inactive because of Covid-19 and it was wound down to avoid annual audit fees, Ms Jansen, who was the sole director, said.
It was a "purely commercial decision to save money".
"The trust is unlikely to enter into significant capital investments or trade operations within the next year or two.
"It’s a fiduciary responsibility for us not to be spending thousands of dollars a year on a company we’re not using.
"We don’t want to use our precious resources on that."
The company could be reincorporated if the situation changed, she said.
The trust was still working towards Unesco Global Geopark status for the Waitaki district, but its application remained on hold, due to Covid-19.
Unesco status remained an important goal, and the disruption of Covid-19 had given the trust the opportunity to engage more with the community and local iwi. Its schools programme had been very well supported, Ms Jansen said.
"We’re really lifting and delivering — and we’ve got great interest in the geopark from some very significant others."
This week, the trust and the company’s annual reports, for the year to June 30, 2020, were published on the Waitaki Whitestone Geopark website. Ms Jansen said the Audit New Zealand process had delayed their publication.
The trust recorded a deficit of $5960 in its annual report, while the company recorded a $2174 deficit from audit fees.
Last month, trustees submitted to the Waitaki District Council’s long-term plan, asking for underwriting of $350,000 over three and a-half years, from January 2022, to keep two staff members. A further $100,000 was sought for for interpretation and entry signage, co-designed and co-funded with iwi, highlighting significant geological and cultural sites around the district.
The trust also asked for $25,000 for school education programmes and public exhibition staging and that the arrangement of $25,000 funding per year for the long-term plan term be continued.
