KU Annual Report 2014 | Page 44

KU Financial Report 24. 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 2014 Raffles Functions Sale of Items Interest Donations Gross Proceeds from Fundraising Raffles Functions Sale of Items Total Cost of Fundraising Net Proceeds from Fundraising 2014 $ 2013 $ 31,804 286,360 247,417 4,747 60,470 630,798 32,892 309,865 245,216 8,765 51,124 647,862 (94) (215,764) (121,246) (337,104) (4,068) (179,188) (129,872) (313,128) 293,694 334,734 (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 2014 Opening balance Net proceeds from fundraising Centre Improvement and Equipment Bank charges Total Reserve 1,254,771 293,694 (313,956) (517) 1,233,992 1,195,958 334,734 (275,480) (441) 1,254,771 (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, sunhats, sunscreen, etc) is deemed to have involved a trader. Gross income received from sale of items Total expenditure incurred 247,417 121,246 245,216 129,872 (e) Forms of Fundraising Appeals Conducted in 2014 For the purposes of reporting under the requirements of the Charitable Fundraising Act 1991, KU Children’s Services classifies all fundraising activities under five categories; raffles, functions, sale of items, donations and interest. (f) Key Indicators for Fundraising Activities Total Cost of Fundraising $337,104 (2013: $313,128) divided by Gross Income from Fundraising $630,798 (2013: $647,862) equals 53% (2013: 48%). Net Surplus from Fundraising $293,694 (2013: $334,734) divided by Gross Income from Fundraising $630,798 (2013: $647,862) equals 47% (2013: 52%). 119th Annual Report 2014