Melbourne Overseas Missions Fund Inc

Information shown on this page is a summary of the Special Purpose Financial Report. To download the full Special Purpose Financial Report as a PDF please click here.

Download Current MOM Annual Report.

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

STATEMENT OF FINANCIAL PERFORMANCE FOR YEAR ENDED 30 NOVEMBER 2008
REVENUE	2008 $	2007 $
Donations and Gifts	812,457	585,239
Legacies and Bequests	15,000	75,000
Grants
AusAID	0	0
Other Australian	0	0
Other Overseas	0	0
Investment Income	68,391	55,788
Other Income	0	0
Total Revenue	895,848	716,027
DISBURSEMENTS
Overseas Projects
Funds to Overseas Projects	846,384	611,905
Other Project Costs	0	0
Domestic Projects	0	0
Community Educatioin	6,220	8,519
Fundraising Costs
Public	6,221	8,519
Government and Multilaterals	0	0
Administration	9,686	12,410
Total Disbursements	868,511	641,352

Excess of revenue over disbursements(shortfall) from continuing operations	27,337	74,675

BALANCE SHEET FOR THE YEAR ENDED 30 NOVEMBER 2008
ASSETS	2008 $	2007 $
Current Assets
Cash	843,845	814,349
Financial Assets	0	0
Non-Current Assets
Property, Plant & Equipment	17,431	17,431
Other	4,975	7,062
Total Assets	866,251	838,842
LIABILITIES
Current Liabilities
Trade and other payables	0	0
Provisions	17,322	17,250
Non-Current Liabilities
Payables	0	0
Other	0	0
Total Liabilities	17,322	17,250
Net Assets	848,929	821,592
EQUITY
Reserves	0	0
Funds available for future use	848,929	821,592
Total Equity	848,929	821,592

SCOPE

We have audited the special purpose financial report of Melbourne Overseas Missions Fund Inc. for the year ended 30 November 2008, as set out on pages 3 to 12 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 to the financial statements are appropriate to meet the needs of the members and the Associations Incorportation 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, 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.

Our audit has been conducted in accordance with Australian Auditing Standards to provide reasonable assurance whether the financial report is free from material misstatement. Our procedures included examination, on a test basis, of evidence supporting the amounts and other disclosures in the financial report and the evaluation of significant accounting estimates. These procedures have been undertaken to form an opinion whether, in all material respects, the financial report is presented fairly in accordance with the accounting policies described in Note 1 to the financial statements so as to present a view which is consistent with our understanding of the Association's financial position, and performance as represented by the results of its operations and cash flows. These policies do not require the application of all Australian Accounting Standards and other mandatory professional reporting requirements.

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 of Melbourne Overseas Missions Fund Inc. as at 30 November 2008 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
Dated 20th March 2009

Note 2: During the financial year, St Paul's Overseas Aid Fund (OAF) Committee packed and forwarded to Mission Stations a total of 464 boxes (2007: 420 boxes) each weighing an average of 16kgs and valued at $371,200 (2007: $336,000). The boxes contained various items of medical supplies such as wound dressings and bandages, soap, sheets, blankets and clothing. Apart from the above, medical goods and used TVs and PC's valued at $50,000 were shipped to Nigeria. In addition, Melbourne Overseas Missions Fund Inc. (MOM) sent 51 boxes of used goods such as computer equipment, blankets and books valued at $30,000 to the Missions in Papua New Guinea.

It is stated that there was a single appeal or other form of fund raising for a designated purpose, generating 10% or more of total income for the period under review. A table designating the East Timor Project is disclosed.

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 2008
	Cash available at beginning of Year	Cash Received During Year	Cash Disbursed During Year	Cash Available at End of Year
Annual Appeal Special Donations	814,349	444,648	415,152	843,845
Total	814,349	444,648	415,152	843,845

List of Special Donations in excess of 10% of income for the year ended 30 November 2008
Projects	Total Income	% of Total Income	Amount Received	Amount Disbursed	Balance
East Timor Projects	$387,911	35.37	$137,230	$137,849	Nil

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