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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
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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 |
|
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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 |
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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.
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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 |
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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
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Melbourne Overseas Missions Fund Inc.
Cardinal Knox Centre, PO Box 146
East Melbourne, Victoria 8002
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| Bishop Chris Prowse visits PNG with photographer Dave Tacon
In August 2006, Bishop Chris Prowse made is journey to Papua New Guinea to visit the highland missions.
More on this story...
More photos...
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