FINANCIALS 2019
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 2019
KU
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2019 2018
$ $
Raffles 18,799 19,636
Functions 176,998 155,533
Sale of Items 101,496 95,831
Interest 2,951 188
Donations 30,259 47,099
Gross Proceeds from Fundraising 330,503 318,287
Raffles (188) (122)
Functions (115,600) (115,138)
Sale of Items (54,013) (42,848)
Total Cost of Fundraising (169,801) (158,108)
Net Proceeds from Fundraising 160,702 160,179
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 2019
Opening balance 1,128,281 1,149,130
Net proceeds from fundraising 160,702 160,179
Centre improvement and equipment (183,886) (180,118)
Bank charges (36) (910)
Total Reserve 1,105,061 1,128,281
b) 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
2019 2018
$ $
Gross income received from sale of items 101,496 95,831
Total expenditure incurred 54,013 42,848
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