KU Annual Report 2015 | Page 42

KU Financial Report 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 2015 Raffles Functions Sale of Items Interest Donations Gross Proceeds from Fundraising Raffles Functions Sale of Items Total Cost of Fundraising Net Proceeds from Fundraising 2015 $ 31,260 283,952 207,792 2,563 94,244 619,811 2014 $ 31,804 286,360 247,417 4,747 60,470 630,798 (187) (248,045) (115,221) (363,453) (94) (215,764) (121,246) (337,104) 256,358 293,694 (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 2015 Opening balance Net proceeds from fundraising Centre Improvement and Equipment Bank charges Total Reserve 1,233,992 256,358 (285,693) (493) 1,204,164 1,254,771 293,694 (313,956) (517) 1,233,992 (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 Total expenditure incurred 120th Annual Report 2015 207,792 115,221 247,417 121,246