KU Financial Report
Notes to the Financial Statements
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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 2010
Raffles
Functions
Building fund
Sale of Items
Interest 2010
$
41,150
324,387
-
292,888
9,598 2009
$
46,711
239,683
88
370,427
8,699
Gross Proceeds from Fundraising
Raffles
Functions
Sale of Items 668,023
(1,211)
(162,335)
(171,279) 665,608
(1,050)
(112,311)
(236,754)
Total Cost of Fundraising (334,825) (350,115)
333,198 315,493
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 2010
2010
$ 2009
$
Opening balance
Net proceeds from fundraising
Centre Improvement and Equipment
Bank charges 1,243,452
333,198
(313,195)
(1,875) 1,211,763
315,494
(281,761)
(2,044)
Total Reserve 1,261,580 1,243,452
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KU Children’s Services