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 2012
2012 2011 $ $
Raffles |
54,868 |
45,195 |
Functions |
286,922 |
293,668 |
Sale of Items |
257,129 |
318,626 |
Interest |
5,297 |
9,135 |
Donations |
17,139 |
0 |
Gross Proceeds from Fundraising |
621,355 |
666,624 |
Raffles |
( 1,426 ) |
( 2,187 ) |
Functions |
( 172,383 ) |
( 176,111 ) |
Sale of Items |
( 120,048 ) |
( 159,696 ) |
Total Cost of Fundraising |
( 293,857 ) |
( 337,994 ) |
Net Proceeds from Fundraising |
327,498 |
328,630 |
( 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 2012 Opening balance |
1,192,584 |
1,261,579 |
Net proceeds from fundraising |
327,498 |
328,630 |
Centre Improvement and Equipment |
( 323,136 ) |
( 397,017 ) |
Bank charges |
( 988 ) |
( 608 ) |
Total Reserve |
1,195,958 |
1,192,584 |
( d ) Details of Gross Income and Aggregate Expenditure of Appeals Conducted Jointly with Traders |
For the purpose of this note all fundraising involving the Sale of Items ( e . g . chocolates , sun hats , sunscreen , etc ) |
is deemed to have involved a trader . |
Gross income received from sale of items |
257,129 |
318,626 |
Total expenditure incurred |
120,048 |
159,696 |
( e ) Forms of Fundraising Appeals Conducted in 2012 For the purposes of reporting under the requirements of the Charitable Fundraising Act 1991 , KU Children ’ s Services classifies all fundraising activities under four categories ; raffles , functions , sale of items and interest .
( f ) Key Indicators for 2012 Fundraising Activities Total Cost of Fundraising ($ 293,857 ) divided by Gross Income from Fundraising ($ 604,216 ) equals 48.63 %. Net Surplus from Fundraising ($ 310,359 ) divided by Gross Income from Fundraising ($ 604,216 ) equals 51.37 %.
38 KU Children ’ s Services