As at 30 September 2020 the New Zealand Meat Board managed $76.4m of reserves. This includes the $56.1 million contingency fund set aside for re-establishing New Zealand’s reputation in the wake of an international industry crisis, and $2.5 milion for quota jeopardy – a situation where New Zealand’s quota arrangements are threatened by the actions of a quota market authority or quota holder. These funds are inflation adjusted.
The investment fluctuation reserve had a value of $1.8 million, representing unrealised gains from the investment fund compared to book value.
The remaining $15.9 million is held in reserve as retained earnings.
Income (interest and dividends) after reserve management expenses are available for industry good projects by application from Beef + Lamb New Zealand Limited (B+LNZ).
Industry good projects funded in 2020 were:
Beef + Lamb New Zealand Genetics $1.2 million (2019: $1.8 million)
a contribution to the Red Meat Ambassador in London representing New Zealand Meat Board in Brexit advocacy $38,000 (2019: $149,000).