KU Financial Report
Notes to the Financial Statements
Continued...
21. Information & Declarations to be Furnished Under the Charitable Fundraising Act 1991
Under this Act, KU Children’s Services holds a single authority to fundraise for KU centres. The authority does not
extend to services which KU manages on behalf of another organisation. Preparation of the following information
reflects the level of disclosure existing in management systems in use by the organisation.
(a) Statement of Fundraising Income and Expenditure
Detailed income statement for the year ended 31 December 2011
2011
$ 2010
$
45,195
293,668
318,626
9,135 41,150
324,387
292,888
9,598
Gross Proceeds from Fundraising
Raffles
Functions
Sale of Items 666,624
(2,187)
(176,111)
(159,696) 668,023
(1,211)
(162,335)
(171,279)
Total Cost of Fundraising (337,994) (334,825)
328,630 333,198
Raffles
Functions
Sale of Items
Interest
Net Proceeds from Fundraising
(b) Accounting Principles and Methods adopted in Fundraising accounts
The fundraising financial statements have been prepared on an accrual basis and in accordance with Australian
Accounting Standards as per Note 2.
(c) Application of Fundraising Proceeds in 2011
38
2011
$ 2010
$
Opening balance
Net proceeds from fundraising 1,261,579
328,630 1,243,452
333,198
Centre Improvement and Equipment
Bank charges (397,017)
(608) (313,195)
(1,876)
Total Reserve 1,192,584 1,261,579
KU Children’s Services