The guardian of many of Oamaru's major heritage buildings has turned in a healthy financial surplus, boosted by a $100,000 donation from an Auckland group which preserved that city's historic properties.
The Oamaru Whitestone Civic Trust owns, maintains and rents out 17 properties, most of them in the Harbour St/Tyne St historic precinct.
At its annual meeting this week, chairman Phil Hope said the financial position for the 2011-12 year had improved on previous years.
The trust had a net surplus of $176,599 compared with $11,973 in the previous financial year.
That was from income during the past financial year of $428,697 ($202,583 in 2010-11) and expenditure (including depreciation) of $192,161 ($190,610).
Mr Hope said the trust had worked very hard on collecting rentals and, where this was not possible, moved to other options more quickly than in the past.
"Our rental income and rates, insurance and ground rent recoveries are much higher than in previous years," he said.
For example, rent income totalled $217,392, compared with $150,341 the previous financial year.
"We still manage a very tight ship and we have continued with our policy of presenting premises to new tenants in as good a condition as possible."
But a "striking aspect" of the year was the $100,000 donation from Landmark Incorporated in Auckland, a group of individuals who got together in the 1970s to buy the old Ponsonby fire station and preserve it.
The group did the same for other historic buildings in Auckland.
Early last year, the group decided to wind up, sold its properties and had about $1 million to give away.
"Because one or two ... had visited Oamaru and the precinct, and because they had heard of the good works of the trust, they decided to give us $100,000," Mr Hope said.
Landmark had not tagged the funds, but was keen to see them spent on buying a building rather than administration or repairs.
The trust had invested the money pending a suitable project.
