Community groups look to be the next sector to feel the global economic meltdown.
The ASB Community Trust, which supports community groups in Auckland and Northland, says it will have to reduce its budget for funding after losing $200 million since October.
Chief executive Jennifer Gill says the trust will have only one funding round instead of two.
She says the decision does not mean the usual recipients won't eventually get the funding they need.
The trust has granted about $33 million to community groups so far this financial year.