KU Annual Report 2013 | Page 43

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 2013 Raffles Functions Sale of Items Interest Donations 2013 $ 32,892 309,865 245,216 8,765 51,124 2012 $ 54,868 286,922 257,129 5,297 17,139 Gross Proceeds from Fundraising 647,862 621,355 Raffles Functions Sale of Items (4,068) (179,188) (129,872) (1,426) (172,383) (120,048) Total Cost of Fundraising (313,128) (293,857) 334,734 327,498 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 2013 Opening balance Net proceeds from fundraising Centre Improvement and Equipment Bank charges 1,195,958 334,734 (275,480) (441) 1,192,584 327,498 (323,136) (988) Total Reserve 1,254,771 1,195,958 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 245,216 257,129 Total expenditure incurred 129,872 120,048 45