Professional Documents
Culture Documents
MOTHER AND CHILD HEALTH CARE CENTER IN ENDASELASSIE, TIGRAY (KUW MCHC PROJECT)
Independent auditors report and financial statement at and for the year ended 31st December, 2005
Contents:
Pages:
1-2
4-5
Page 1 of 5
Page 2 of 5
Unqualified opinion:
In our opinion, the financial statement, when read together with the notes set out on pages 4 - 5, gives a
true and fair view of the financial position of the project as at 31st December, 2005 and of the funds the
management has received and expended during the year then ended, in conformity with the Generally
Accepted Accounting Principles.
Page 2 of 5
Currency: Birr
Notes
Receipts from:
Donations
In cash - Kinder Unserer Welt (KUW)
In kind - Kinder Unserer Welt (KUW)
REST
5
6
7
1,143,168.35
246,318.10
214,925.33
1,604,411.78
Payments
Salaries
Employee benefits
Fees
Communications & utilities
Travel & related expenses
Supplies, vehicle & equipment
Purchased services
Education & training
Administration cost
417,858.50
35,389.68
14,244.53
7,945.10
135,294.88
911,017.57
22,662.79
117,829.01
101,313.57
(1,763,555.63)
(159,143.85)
428,846.26
269,702.41
20.00
269,682.41
269,702.41
Page 3 of 5
Currency: Birr
1. Introduction
This is the fist audit of the project. The opening balances, therefore, are as assembled by the
management of the society.
2. Objectives
The project period is from January 1, 2005 to December 31, 2006 and has the following objectives.
- To expand Community Level Maternal Child Care Services.
- To strengthen existing capacity of health service provision.
- To provide basic Mother and Child Health Care (MCHC) at static and outreach level.
3. Accounting policies
3.1 Basis of accounting
The records are kept on accrual basis of accounting.
3.2 Fixed assets
Fixed assets are expended on acquisition but leaving a nominal value of Br. 10.00 for each asset
in existence for control purposes.
3.3 Office supplies are expended on acquisition, regardless of usage.
3.4 Foreign currency translation
The donations in cash were received in foreign currencies and converted to birr by the bank at the
rates ruling on the dates of receipts.
4. Cash at bank - Br. 269,682.41
The balance shown above is kept in a bank account with the other funds managed by the society.
Page 4 of 5
5. Donation in cash
The cash transfers from Kinder Unserer Welt (KUW) during the year under review are as follows:
Net
Exchange
Amount
Equivalent
Ref
Euro
Rate
Birr
USD
Date
28/03/05 BDV 6779
27,900.00
11.1731
311,729.42
35,296.25
04/07/05 BDV 6785
27,900.00
10.4576
291,767.00
33,006.81
30/09/05 BDV 6791
27,900.00
10,4622
291,895.32
32,992.96
10.3150
247,776.61
27,982.18
30/12/05 BDV 6799
24,021.00
107,721.00
1,143,168.35
129,278.20
191,280.00
2,800.80
14,244.53
6,600.00
214,925.33
Page 5 of 5