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ETA Organisation
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EELAM TAMIL ASSOCIATION INCORPORATED
SYDNEY
FINANCIAL STATEMENTS
YEAR ENDED MARCH 31, 2001
INDEPENDENT AUDIT REPORT
To the members of The Eelam Tamil Association Inc.
Scope
I have audited the accounts of the reporting entity The Eelam Tamil Association Inc. for the year ended 31 March 2001. The preparation and presentation of the financial reports consisting of the balance sheet, statement of income and expenditure, and statement of cash flows together with notes thereto as set out in pages 1 to 5 and the information contained therein is the responsibility of the Association. My responsibility is to express an opinion on those statements to the members of the Association based on my audit as required by Section 24 of the Charitable Fund Raising Act.
This report has been prepared for distribution to members for the purpose of fulfilling the committee of management's financial reporting requirements.
My audit has been conducted in accordance with Australian auditing standards to provide reasonable assurance whether the financial report of the Association is free of material misstatement. My audit procedures included examinations, of evidence supporting the amounts and other disclosures in the financial report, and the evaluation of accounting policies and significant accounting estimates. These procedures have been undertaken to form an opinion whether, in all respects, the financial report is presented fairly so as to present a view is consistent with my understanding of the Association's financial position and the results of its operation.
AUDIT OPINION
In my opinion, the financial report of the Eelam Tamil Association Inc. presents fairly in accordance with applicable Accounting Standards and other mandatory professional reporting requirements the financial position of the Eelam Tamil Association as at 31 March 2001, and the results of the operation for the year then ended.
Dated at Sydney on 30 July, 2001
T.H. Vijenathan CPA
Honorary Auditor
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Eelam Tamil Association
Inc.
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Balance Sheet as at 31 March 2001
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| 1999/2000 | 2000/2001 | |||||||
| Current Assets | ||||||||
| Petty Cash | 254 | |||||||
| 8,136 | Cash at Bank | 15,190 | ||||||
| 17,877 | Fixed Deposits | 17,877 | ||||||
| 1,485 | Accounts Receivable | 178 | ||||||
| 5,090 | Prepayments | 9,677 | ||||||
| 32,588 | Total Current Assets | 43,177 | ||||||
| 32,588 | Total Assets | 43,177 | ||||||
| Current Liabilities | ||||||||
| 865 | Payable - Other | |||||||
| 865 | Total Current Liabilities |
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| MEMBERS' EQUITY | ||||||||
| 31723 | Accumulated Surplus | 42,922 | ||||||
| 32,588 | 42,922 | |||||||
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Eelam Tamil Association
Inc.
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Statement of Income and Expenditure for year
ended 31 March 2001
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| 1999/2000 | 2000/2001 | |||||||
| Revenue: | ||||||||
| 52,938 | Gross Proceeds from fundraising appeals | 64,729 | ||||||
| 6,108 | Cultural Functions | 16,616 | ||||||
| 19,070 | Raffle | 34,257 | ||||||
| 2,949 | Chocolate Sale | 214 | ||||||
| 5,568 | Curry Nights | 3,052 | ||||||
| 6,664 | Food Sale | |||||||
| 2,973 | Dinner | 2,128 | ||||||
| 8,550 | Catering | 6,354 | ||||||
| 1,056 | Sports | 2,109 | ||||||
| 670 | Membership | 837 | ||||||
| 5,332 | Donations | 34,518 | ||||||
| 275 | Interest Income | 399 | ||||||
| 59,215 | Total Revenue | 100,483 | ||||||
| Expenses | ||||||||
| 24,546 | Total Cost of Fundraising | 25,844 | ||||||
| 3,964 | Cultural Functions | 8,779 | ||||||
| 6,502 | Raffle | 4,567 | ||||||
| 2,080 | Chocolate Sale | 360 | ||||||
| 1,962 | Curry Nights | 2,278 | ||||||
| 3,970 | Food Sale | 1,725 | ||||||
| 1,748 | Dinner | 2,047 | ||||||
| 4,320 | Sports & Funfair | 4,116 | ||||||
| Transport - Shipping | 1,972 | |||||||
| 866 | Meeting Expenses | 186 | ||||||
| 35 | Sundries | |||||||
| Subscriptions | 200 | |||||||
| 178 | Postage | 403 | ||||||
| 355 | Insurance | 384 | ||||||
| 273 | Bank Charges | 319 | ||||||
| 154 | Stationery | 211 | ||||||
| 506 | Hotline | 569 | ||||||
| - | Consultancy | 473 | ||||||
| 1,007 | News letter | 670 | ||||||
| - | Hall Hire | 1,578 | ||||||
| 1,477 | Lobbying | 1,390 | ||||||
| 23,282 | Donations | 57,057 | ||||||
| 5,000 | Child Sponsorship - ETA Contribution | |||||||
| 57,679 | Total Expenses | 89,283 | ||||||
| 1,536 | Net Surplus Transferred to Accumulated Surplus | 11,199 | ||||||
| 59,215 | 100,483 | |||||||
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Eelam Tamil Association Inc.
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Statement of Cash Flows
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For the year ended 31 March 2000
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| 1999/00 | 2000/01 | |||||||
| Cash Flows from operating activities | ||||||||
| Receipts | ||||||||
| 53,299 | Fundraising activities | 66,036 | ||||||
| 670 | Membership | 837 | ||||||
| 275 | Interest | 399 | ||||||
| 5,332 | Donations | 34,518 | ||||||
| Payments | ||||||||
| -28,678 | Direct expenses - Fundraising activities | -31,295 | ||||||
| -23,282 | Donations | -57,057 | ||||||
| -1,477 | Lobbying | -1,390 | ||||||
| -5,000 | Child Sponsorship program - TRO | |||||||
| -3,374 | General and administration expenses | -4,993 | ||||||
| -2,235 | Net increase (decrease) in cash held (Note 1) | 7,054 | ||||||
| 28,248 | Cash at 1 March 2000 | 26,013 | ||||||
| 26,013 | Cash at 31 March 2001 (Note 2) | 33,067 | ||||||
| Note 1 | ||||||||
| Reconciliation of Net Cash used in Operating activities to Operating | ||||||||
| Results: | ||||||||
| 1,536 | Operating Result | 11,199 | ||||||
| - | Decrease in payable | -865 | ||||||
| -4,132 | Increase in prepayments | -4,587 | ||||||
| 361 | Decrease in receivable | 1,307 | ||||||
| -2,235 | Net Cash used in operating activities | 7,054 | ||||||
| Note 2 | ||||||||
| Cash at Bank and Hand | ||||||||
| Petty Cash | 254 | |||||||
| 4,959 | Eelam Tamil Association | 657 | ||||||
| 1,284 | Tamil Rehabilitation Fund | 12,433 | ||||||
| 282 | Indian Refugee Support | 285 | ||||||
| 1,612 | Teedor | 1,562 | ||||||
| 17,876 | Fixed Deposits | 17,876 | ||||||
| 26,013 | 33,067 | |||||||