Annual Report 2003

STATEMENT OF INCOME AND EXPENDITURE
FOR PERIOD 1 DECEMBER 2002 TO 30 NOVEMBER 2003

DETAILS 1/12/02-30/11/03 1/12/01-30/11/02
$ $
INCOME
Donations 178,688 159,608
Interest 5,306 5,477
Bequests 15,000 9,102
Bomana Donations 35,000 1,000
Botswana Donations 6,062 4,716
Order of St Lazarus Donations 10,180
Bema Donations 1,480
Sierra Leone Donations 1,200
Sundries 5
TOTAL INCOME 252,916 179,908
EXPENDITURE
DIRECT GRANTS
PNG BEMA including Sr Ursula Nihill 1,180 26,634
PNG Kanabea 72,200 59,595
Botswana 6,000 5,000
PNG Boroko Sponsorship of Student Education 10,000
PNG Boroko- Canossian Sisters 500
PNG Cluny Sisters- Projects and Brigidine Teacher Funds (5,790) 11,300
St Pauls School for the Blind Overseas Aid 59,000 48,000
East Timor Salesians 500
PNG-Waigani- Holy Spirit Seminary_Bomana 27,119 9,608
Community Education 6,823 800
Order of St Lazarus Appeal 10,200
Christian Brothers Foundation 5,000
Columban Fathers- Peru 10,000
Cluny Sisters-Sierra Leone 10,000
TOTAL DIRECT GRANTS 196,732 176,937
OTHER COSTS
Lay Missionary Support Training (Gambia and Boama PNG) 10,242 3,548
ADMINISTRATIVE / PROMOTIONAL COSTS
Postage/Photocopying/Telephone 2,072 1,656
Printing and Stationery 15 288
Appeal Publicity 7,048 8,917
Credit Card Costs 958 745
Depreciation 831 877
Computer supplies and other costs 6,009 5,723
Conference and travel expenses 1,599 122
ACFOA Membership 1,436 1,844
Sundries 483 272
Audit Fees 1,000 1,000
TOTAL ADMIN/PROM COSTS 21,451 21,444
TOTAL EXPENDITURE 228,425 201,929
EXCESS OF INCOME OVER EXPENDITURE (Deficit) 24,491 24,491
TOTAL 252,916 179,908

STATEMENT OF FUNDS AS AT 30 NOVEMBER 2003

30/11/03 30/11/02
$ $
Funds on hand at 1 December 2,164 24,185
add excess of income over expenditure 24,491
less excess expenditure over income (22,021)
Balancing Item (see Supplementary Statement for details) 5,531
TOTAL 32,186 2,164
Represented by:
Catholic Development Fund 21,641 93,842
CDF Kanabea Mission Account 5,531 0
Computer Equipment 17,431 16,518
less provisions for deprecation (16,033) (15,202)
Prepayments 3,462 6,328
Sundry debtors 154 678
Sundry creditors (100,000)
TOTAL 32,186 2,164

KANABEA MISSION ACCOUNT NO 57657 S11.1 STATEMENT OF RECEIPTS AND PAYMENT
FOR PERIOD 16 MAY 2003 TO 30 NOVEMBER 2003

DATE RECEIPTS PAYMENTS
$ $
16/05/03 Anon 7,531 25/06/03 MOM 2,000
30/11/03 Bal c/d 5,531
TOTAL 7,531 TOTAL 7,531
01/12/03 Bal b/f 5,531

CASHFLOW FOR THE FINANCIAL YEAR ENDING 30/11/2003

CASHFLOW FROM OPERATING ACTIVITIES 2003 2002
$ $
Donations Recieved 240,141 165,324
Legacies and Bequests 15,000 9,102
Payments to Suppliers and Employees (328,214) (101,819)
Investmnet Income 5,306 5,477
Other Income 2,011 5
Net cash provided by operating activities (65,756) 78,089
CASHFLOW FROM INVESTING ACTIVITIES
Fixed Asset Purchases (914) (1,114)
Proceeds on sale of fixed assets
Net cash provided (used by investing activities) (914) (1,114)
CASHFLOW FROM FINANCING ACTIVITIES
Repayment of borrowings
Net cash used in financing activities
Net increase in cash held (66,670) 76,975
Cash at the beginning of the financial year 93,842 16,867
Cash at the end of the financial year 27,172 93,842

DONATIONS MONETARY AND NON-MONETARY
FOR PERIOD 1 DECEMBER 2002 TO 30 NOVEMBER 2003

DETAILS 1/12/02-30/11/03 1/12/01-30/11/02
$ $
Donations 178,688 159,608
Bomana Donations 35,000 1,000
Botswana Donations 6,062 4,716
Order of St Lazarus Donations 10,180 0
Bema Donations 1,480 0
Sierra Leone Donations 1,200 0
Kanabea Mission Fund 7,531
TOTAL 240,141 165,324
Non-Monetary Donations 518,400 643,680
TOTAL DONATIONS 758,541 809,004

TABLE OF CASH MOVEMENTS FOR DESIGNATED PURPOSES
FOR THE YEAR ENDED 30 NOVEMBER 2003

PURPOSE CASH AVAILABLE AT BEGINNING OF YEAR CASH RAISED DURING YEAR CASH DISBURSED DURING YEAR CASH AVAILABLE AT END OF YEAR REMARKS
$ $ $ $
As per Annual Report 93,842 262,458 329,128 27,172

OPERATING STATEMENT FOR YEAR ENDED 30 NOVEMBER 2003
2003 2002
REVENUE $ $
Donations and Gifts – Monetary and non- monetary (1) 758,541 809,004
Legacies and Bequests 15,000 9,102
Investment Income 5,306 5,477
Other Income 0 5
TOTAL REVENUE 778,847 823,588
DISBURSEMENTS
Overseas Projects
* Funds to Overseas Projects (1) 710,309 819,817
* Other Project Costs 10,242 3,548
Domestic Projects
Community Education 6,823 4,620
Fundraising Costs
* Public 7,048 5,098
* Government and Multilaterals
Administration 14,403 12,527
TOTAL DISBURSEMENTS 748,825 845,610
Excess of Revenue over Disbursements (shortfall) 30,022 (22,022)
Funds available for future use at beginning of financial year 2,164 24,185
Amounts transferred to reserves 32,186 2,163
STATEMENT OF FINANCIAL POSITION AS AT 30 NOVEMBER 2003
ASSETS
Cash 27,172 93,842
Investments
Property, plant and equipment 17,431 16,518
Other 3,616 7,006
TOTAL ASSETS 48,219 117,366
LIABILITIES
Creditors and borrowings 0 100,000
Provision for deprecation 16,033 15,202
TOTAL LIABILITIES 16,033 115,202
Net Assets 32,186 2,164
EQUITY
Funds available for future use 32,186 2,164
TOTAL EQUITY 32,186 2,164

Note 1: During the financial year 2002-2003, the St. Paul Overseas Aid Fund (OAF) Committee packed and forwarded to 92 Mission Stations a total of 600 boxes (745 in 01/02) and each weighing an average of 16K and valued overall at $518,400 ($643,680 in 01/02).

Melbourne Overseas Missions Fund Inc. Assisted St Paul’s Overseas Aid Fund in meeting the large freight cost on these boxes by contributing $59,000 ($48,000 in 01/02). Any extra freight costs were borne by St Paul’s OAF from their own resources. Items contained in the boxes consisted of urgently required medical supplies such as wound dressings and bandages, soap, sheets, blankets and clothing.