ETA Organisation

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

 Page 1 
 Eelam Tamil Association Inc. 
 Balance Sheet as at 31 March 2001 
 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
                 - 
MEMBERS' EQUITY
31723 Accumulated Surplus 42,922
32,588 42,922
 Page 2 
 Eelam Tamil Association Inc. 
 Statement of Income and Expenditure for year ended 31 March 2001 
                 
 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
 Page 3 
 Eelam Tamil Association Inc. 
 Statement of Cash Flows 
 For the year ended 31 March 2000 
 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