Annual Report 2005

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INDEPENDENT AUDIT REPORT TO THE MEMBERS OF MELBOURNE OVERSEAS MISSIONS FUND INC.
Registered Number A0010312L
SCOPE

We have audited the surnmarised financial report of Melbourne Overseas Missions Fund Inc. for the financial year ended 30 November 2005 in accordance with Australian Auditing Standards.

The summarised financial report is derived from the Association’s annual statutory financial report.

AUDIT OPINION

In our opinion, the information contained in the surnmarised financial is consistent with the annual statutory report from which it is derived and upon which we expressed an unqualified audit opinion in our report to the members dated 10 May 2006. For a better understanding of the scope of our audit, this report should be read in conjunction with our audit report on the annual statutory financial report.

BDO

Chartered Accountants

JF Knott

Partner

STATEMENT OF FINANCIAL PERFORMANCE
FOR YEAR ENDED 30 NOVEMBER 2005

REVENUE

2005

$

2004

$

Donations and Gifts (1) 897,658 702,782
Legacies and Bequests

20,000 547,917
Grants
AusAID 0 0
Other Australian 0 0
Other Overseas 0 0
Investment Income 48,271 22,013
Other Income 0 0
Total Revenue 965,929 1,272,712

DISBURSEMENTS

Overseas Projects
Funds to Overseas Projects (1) 889,371 584,259
Other Project Costs 0 0

Domestic Projects 0 0
Community Educatioin 3,924 6,411
Fundraising Costs
Public 3,924 6,412
Government and Multilaterals 0 0
Administration 13,379

12,930
Total Disbursements 910,598

610,012

Excess of revenue over disbursements

(shortfall) before extraordinary items 55,331 662,700
Extraordinary items 0 0
Excess of revenue over disbursements

(shortfall) after extraordinary items

55,331

662,700

Funds available for future use at the

beginning of the financial year

694,886

32,186

Amounts transferred to (from) reserves 0 0
Funds available for future use at the

End of the Financial Year

750,217

694,886

BALANCE SHEET FOR THE YEAR

ENDED 30 NOVEMBER 2005

ASSETS

2005

$

2004

$

Cash 748,993 715,258
Investment 0 0
Property, Plant & Equipment 17,431 17,431
Other 4,918 38,817
Total Assets 771,342 771,506

LIABILITIES

Creditors and Borrowings 4,198 60,028
Provisions 16,927 16,592
Total Liabilities 21,125 76,620

Net Assets

750,217

694,886

EQUITY
Reserves 0 0
Funds available for future use 750,217 694,886
Total Equity 750,217 694,886

Note 1: During the financial year, the St. Paul’s Overseas Aid Fund (OAF) Committee packed and forwarded to 96 Mission Stations a total of 661 boxes (2004: 563) each weighing an average of 16 Kg and valued overall at $528,800 (2004: $405,360). Melbourne Overseas Missions Fund Inc. (MOM) assisted St Paul’s OAF in meeting the large freight cost on these boxes by contributing $47,000 (2004: $48,000). 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. In addition MOM forwarded 35 boxes valued at $50,000 (2004: $10,000) to Papua New Guinea. These items consisted of books, computer equipment and clothing.

It is stated that no single appeal for a designated purpose, other than Dontations raised as Tsunami Aid, generated 10% or more of total income for the period under review.

PURPOSE: To encourage self help and self reliance through education programs of literacy, gender equality, human rights, health, hygiene, agriculture, cottage industry and small business cooperatives.

Cash Movements for Designated Purposes for the year ended 30 November 2005
Cash available

at beginning of Year

Cash Raised

During Year

Cash Disbursed

During Year

Cash Available

at End of Year

Comments
Annual Appeal 715,258 303,278 269,794 748,742 Normal Annual

Church Appeal

Tsunami Donations 0 83,851 83,600 251 Tsunami

Donations

Total 715,258 387,129 353,394 748,993

An audited full financial statement is available on request to the secretary, Melbourne Overseas Missions. Additional information and reports are available on the web site or by Email to secretary@mom.org.au

Melbourne Overseas Missions Fund Inc.

Cardinal Knox Centre, PO Box 146

East Melbourne, Victoria 8002