FINANCIALS 2018
23. 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 2018
KU
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Raffles
Functions
Sale of Items
Interest
Donations
Gross Proceeds from Fundraising
Raffles
Functions
Sale of Items
Total Cost of Fundraising
Net Proceeds from Fundraising
2018 2017
$ $
19,636 23,942
155,533 192,029
95,831 134,940
188 541
47,099 39,645
318,287 391,097
(122) (370)
(115,138) (129,776)
(42,848) (60,642)
(158,108) (190,788)
160,179 200,309
(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 3.
(c) Application of Fundraising Proceeds in 2018
Opening balance
1,149,130
Net proceeds from fundraising
1,213,017
160,179 200,309
(180,118) (264,074)
Bank charges (910) (122)
Total Reserve 1,128,281 1,149,130
Centre Improvement and Equipment
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