TECT Confirms Distribution Plan
TECT Trustees have confirmed their Annual Distribution Plan which will see $40 million distributed to Consumers and Community Organisations in the coming financial year.
Trustees confirmed the Distribution Plan after consideration of submissions received. TECT Chairperson Bill Holland says, “It is always good to hear direct from people through our submission process about what is important to them. Obviously we can’t please everyone, but Trustees are delighted to once again be able to distribute such a significant amount back to Consumers and Community Groups this year”.
Each year TECT distributes the majority of its funds direct to its Consumers, and this year TECT Trustees have committed to pay out $31.2 million via its annual TECT Cheque scheme. Eligible TECT Consumers will receive a cheque of at least $440 in November 2016 (up from $435 in 2015). TECT Trustees have confirmed that TECT will continue to include payments to Consumers who have gas and internet services with Trustpower. “We received very positive feedback about the additional payments last year so we’re pleased to continue this as well” said Mr Holland. “The cheque distribution provides an injection of millions of dollars into the local economy”.
How much will your TECT Cheque be? Find out HERE
TECT has also committed $8.8 million to support community organisations and projects. “Trustees have agreed to continue their support of local community organisations through TECTs funding schemes. Funding community groups and causes supports TECT’s vision of its Consumers living and engaging in a vibrant and enriching community. These organisations are the backbone of our community and this allocation will again enable us to provide much needed support to their various causes” said Wayne Werder, TECT’s General Manager.
In the past 22 years, TECT has returned $399 million back to Consumers and the Community, supporting thousands of people and projects throughout the Western Bay of Plenty district.