2006 Annual Report

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

SCOPE

We have audited the special purpose financial report of Melbourne Overseas Missions Fund Inc. for the year ended 30 November, 2006, as set out on pages 2 to 11 of the full report. The Committee is responsible for the financial report and has determined that the accounting policies used and described in Note 1 of the full report to the financial statements are appropriate to meet the needs of the members and the Associations Incorporation Act (Vic) 1981. We have conducted an independent audit of the financial report in order to express an opinion on it to the members. No opinion is expressed as to whether the accounting policies used, and described in Note 1 of the full report, are appropriate to their needs.

The financial report has been prepared for the purpose of fulfilling the requirements of the associations Incorporation Act (Vic) 1981. We disclaim any assumption of responsibility for any reliance on this report or on the financial report to which it relates to any person other than the members or for any purpose other than that for which it was prepared. The audit opinion expressed in this report has been formed on the above basis.

AUDIT OPINION

In our opinion, the financial report gives a true and fair view, in accordance with the accounting policies described in Note 1 to the financial statements and the Associations Incorporation Act (Vic) 1981, the financial position on Melbourne Overseas Missions Fund Inc. as at 30 November, 2006 and the results of its operations and its cash flows for the year then ended.

CHAUNDY AND HENRY
Chartered Accountants

P. W. SELKRIG
Partner
Melbourne

STATEMENT OF FINANCIAL PERFORMANCE
FOR YEAR ENDED 30 NOVEMBER 2006


REVENUE
2006
$
2005
$
Donations and Gifts (2)
509,040
897,658 Legacies and Bequests
24,160 20,000 Grants AusAID 0 0 Other Australian 0 0 Other Overseas 0 0 Investment Income 46,641 48,271 Other Income 0 0 Total Revenue 579,841 965,929
DISBURSEMENTS
Overseas Projects Funds to Overseas Projects (2) 542,647 889,371 Other Project Costs 0
0
Domestic Projects 0 0 Community Educatioin 14,842 3,924 Fundraising Costs Public 12,025 3,924 Government and Multilaterals 0 0 Administration 13,627 13,379 Total Disbursements 583,141 910,598
Excess of revenue over disbursements
(shortfall) before extraordinary items -3,300 55,331 Extraordinary items 0 0 Excess of revenue over disbursements
(shortfall) after extraordinary items
-3,300 55,331 Funds available for future use at the
beginning of the financial year
750,217 694,886 Amounts transferred to (from) reserves 0 0 Funds available for future use at the
End of the Financial Year
746,917 750,217

BALANCE SHEET FOR THE YEAR
ENDED 30 NOVEMBER 2006


ASSETS
2006
$
2005
$
Cash 742,885 748,993 Investment 0 0 Property, Plant & Equipment 17,431 17,431 Other 3,729 4,918 Total Assets 764,045 771,342
LIABILITIES
Creditors and Borrowings 0 4,198 Provisions 17,128 16,927 Total Liabilities 17,128 21,125
Net Assets

746,917

750,217
EQUITY Reserves 0 0 Funds available for future use 746,917 750,217 Total Equity 746,917 750,217

Note 2: During the financial year, St Paul’s Overseas Aid Fund (OAF) Committee packed and forwarded to 96 Mission Stations a total of 403 boxes (2005: 661 boxes) each weighing 16.0kg (average) and valued at $322,400 (2005: $528,000). Melbourne Overseas Missions Fund Inc (MOM) assisted St Paul’s OAF in meeting the large freight costs on these boxes by contributing $40,000 (2005: $47,000). Any extra freight costs were borne by St Paul’s OAF from its own resources. The boxes contained various items of medical supplies, such as, wound dressings and bandages, soap, sheets, blankets and clothing. In addition to the above, Melbourne Overseas Missions Fund Inc. sent 14 boxes to Papua New Guinea containing items of clothing, toys, computer equipment, blankets and books. The value of these items was $5,000.

It is stated that there was no single appeal or other form of fund raising for a designated purpose, generating 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 2006
Cash available
at beginning of Year
Cash Raised
During Year
Cash Disbursed
During Year
Cash Available
at End of Year
Comments
Annual Appeal 748,742 251,191 258,549 741,384 Normal Annual
Church Appeal
Tsunami Donations 251 1,250 0 1,501 Tsunami
Donations
Total 748,993 252,441 258,549 742,885

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