ROTARY DISTRICT 9211...Rotary District 9211 Report and Financial Statements For the year ended 30...
Transcript of ROTARY DISTRICT 9211...Rotary District 9211 Report and Financial Statements For the year ended 30...
ROTARY DISTRICT 9211
REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2017
Rotary District 9211
Report and Financial Statements
For the year ended 30 June 2017
CONTENTS PAGE
Rotary District 9211 information 1
Rotary District 9211 Finance Committee's report 2
Statements of Rotary District 9211 Finance Committee's responsibility 3
Report of the independent auditor 4-5
Financial statements:
-Statement of Income and Expenditure 6
-Statement of financial position 7
- Statement of net assets 8
- Statement of cash flows 9
Notes to the financial statements 10-13
The following pages do not form an integral part of these financial statements
List of clubs Appendix 1
Rotary District 9211
Report and Financial Statements
For the year ended 30 June 2017
DISTRICT INFORMATION
District Governor Ken Mugisha Chairman
District Governor Elect Sharmila Bhatt Member
District Governor Nominee F. Xavier Sentamu Member
Past District Governor Stephen Mwanje Member
Past District Governor Emmanuel Katongole Member
Past District Governor Harish Bhatt Member
Past District Governor Robert Waggwa Nsibirwa Member
Past District Governor Jayesh Asher Member
Past District Treasurer Giuseppe Rosiello Member
District Treasurer Peter Kimbowa Member
District Treasurer Elect Samwel Dyelu Member
Contact Address: ROTARY DISTRICT 9211
P.O. Box 11193
Kampala,Uganda
Tel:0414374075
Mail:[email protected]
Bankers: Centenary Rural Development Bank Ltd
Plot 44-46 Kampala Road
P.O.Box 1892
Kampala,Uganda
Exim Bank (Tanzania) Ltd
Exim Tower
Dar es Salaam, Tanzania.
Bank M Tanzania Limited
Industrial Finance Branch
Plot No. 27/28, Nyerere Road,
P.O.Box 96
Dar es Salaam, Tanzania.
Auditors: RSM Eastern Africa
Certified Public Accountants
16th Floor, Golden Jubilee Towers
P.O.Box 79586
Dar es Salaam, Tanzania.
District Finance
Committee:
1
May 2
Rotary District 9211
For the year ended 30 June 2017
Opinion
Basis for opinion
Other information
District Finance Committee's responsibility for the financial statements
Auditor's responsibilities for the audit of the financial statements
In preparing the special purpose financial statements, the district finance committee is responsible for assessing the district's
ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern
basis of accounting unless the district is intended to be liquidated or cease operations or there is no realistic alternative but to
do so.
Our objectives are to obtain reasonable assurance about whether the special purpose financial statements as a whole are free
from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion.
Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with
accounting policies set out in Note 1 will always detect a material misstatement when it exists. Misstatements can arise from
fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence
the economic decisions of users taken on the basis of these financial statements.
We have audited the accompanying special purpose financial statements of Rotary District 9211, as set out on pages 6 to 13
which comprise of the statement of financial position as at 30 June 2017, statement of income and expenditure, changes in net
assets and cash flows for the year then ended, and a summary of significant accounting policies and other explanatory notes.
The special purpose financial statements have been prepared by management in accordance with the accounting policies as set
out in Note 1 to the special purpose financial statements.
We conducted our audit in accordance with International Standards on Auditing (ISAs). Our responsibilities under those
standards are further described in the Auditor's Responsibilities for the Audit of the Financial Statements section of our
report. We are independent of the district in accordance with the International Ethics Standards Board for Accountants' Code
of Ethics for Professional Accountants (IESBA Code) together with the ethical requirements that are relevant to our audit of
the financial statements in Tanzania, and we have fulfilled our ethical responsibilities in accordance with these requirements
and the IESBA Code. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for
our opinion.
The district finance committee is responsible for the other information. Other information comprises the information included
in the Annual Report, but does not include the special purpose financial statements and our auditor's report thereon.
Report of the independent auditor to the members of Rotary District 9211, on the special purpose financial statements of
Rotary District 9211
In our opinion the accompanying financial statements give a true and fair view of the financial position of the district as at 30
June 2017 and of its financial performance and cash flows for the year ended in accordance with accounting policies set out in
Note 1 to these financial statements.
Our opinion on the special purpose financial statements does not cover the other information and we do not express any form
of assurance conclusion thereon.
In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so,
consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in
the audit or otherwise appears to be materially misstated. If, based on the work we have performed, we conclude that there is a
material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.
The district finance committee is responsible for the preparation and fair presentation of the special purpose financial
statements that give a true and fair view in accordance with accounting policies set out in Note 1, and for such internal control
as the district finance committee determine is necessary to enable the preparation of special purpose financial statements that
are free from material misstatement, whether due to fraud or error.
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Rotary District 9211
Report and Financial Statements
For the year ended 30 June 2017
STATEMENT OF INCOME AND EXPENDITURE
Budget
Uganda Tanzania Total Total
2017 2017 2017 2017 2016
USD USD USD USD USD
Notes
Revenue
District dues 66,000 53,780 11,640 65,420 59,540
RI Support 59,000 38,783 16,621 55,404 61,499
Governor's contribution - 879 377 1,256 25,017
125,000 93,442 28,638 122,080 146,056
Expenditure
District Governor Expenses 9 65,404 26,648 32,785 59,434 96,516
17,500 17,004 - 17,004 14,030
PETS Support 4,000 2,000 2,000 4,000 4,483
Assistant Governor Allowances 19,500 11,800 6,100 17,900 12,560
District website design 5,000 - 4,876 4,876 3,945
2,000 - 826 826 1,914
Rotary Youth Leadership Awards 3,000 1,500 - 1,500 1,500
Audit fees 1,000 - 1,000 1,000 2,770
TRF Stewardship 2,000 260 260 57
Sundry expenses 1,000 4,265 - 4,265 4,149
Bad debts - - 420 420 1,173
Bank charges - 102 206 308 986
Vijana Poa travel expense - 1,192 - 1,192 -
Foreign exchange loss - 22 22 44 -
TRF Kilema Kati refund - - 8,500
Country training expenses - - 1,906
Stationery - - 950
120,404 64,793 48,235 113,029 155,439
Surplus/ (deficit) for the year 4,596 28,648 (19,597) 9,051 (9,383)
District Team Training Seminar
(DTTS)
District Rotaract Rep administrative
support expenses
Actual
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Rotary District 9211
Report and Financial Statements
For the year ended 30 June 2017
STATEMENT OF CHANGES IN NET ASSETS
Accumulated
fund Designated fund Total
USD USD USD
NOTES
Year ended 30 June 2017
At start of year 104,444 12,371 116,815
Surplus for the year 9,051 - 9,051
Prior period expenses 7 (8,209) - (8,209)
At end of year 105,286 12,371 117,657
Year ended 30 June 2016
At start of year 113,827 12,371 126,198
Deficit for the year (9,383) - (9,383)
At end of year 104,444 12,371 116,815
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Rotary District 9211
Report and Financial Statements
For the year ended 30 June 2017
STATEMENT OF CASH FLOWS
2017 2016
USD USD
Cashflow from operating activities
Surplus/ (deficit) 9,051 (9,383)
Adjustment for:
Prior period expenses (note 7) (8,209) -
Changes in working capital
Increase in receivables (6,748) (607)
Increase / (decrease) in payables 17,423 (8,433)
Net cash generated from / (used in) operating activities 11,517 (18,423)
Movement in cash and cash equivalents
At start of the year 112,324 130,747
Increase/ (decrease) 11,517 (18,423)
At end of the year 123,841 112,324
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Rotary District 9211
Report and Financial Statements
For the year ended 30 June 2017
NOTES
1 Accounting Policies
The principal accounting policies adopted in the preparations of these financial statements are set out below:-
(a) Basis of preparation
(b) Presentation currency
The financial statements are presented in United States Dollars which is the presentation currency of the District.
(c) Revenue recognition
(d) Cash and cash equivalents
Cash and cash equivalents comprise cash in hand and demand deposits with banks.
(e) Translation of foreign currencies
(f) Accounts Payable
(g) Contributed services
(h) Comparatives
2 Designated funds
These were designated funds for a project however they have not been used till date.
Where necessary, comparative figures have been adjusted to confirm with changes in presentation in the current year.
The Rotary District 9211 's financial statements are prepared on accrual basis under the historical cost convention and in
compliance with Generally Accepted Accounting Principles and the Rotary District 9211 Constitution and By-laws.
Except for Rotary District 9211 dues which are recognised on accruals basis, all other revenues are recognised on a cash
basis.
Transactions in functional currencies during the year are converted into United States Dollar at rates ruling at the
transactions' dates. Assets and liabilities at the reporting date which are expressed in functional currencies are translated
into United States Dollars at rates ruling at the year end. The resulting differences from conversion and translation are
dealt with in the statement of income and expenditure in the year in which they arise.
Accounts payable are obligations on the basis of normal credit terms and do not bear interest. Un reconciled receipts are
treated as deferred until they are verified against presented documents as proof that they were deposited by the clubs.
Rotarians contribute significant amount of their time each year based on their vocations. Because of the difficulty in
determining their fair value, contributed services are not recognized in the financial statements.
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Rotary District 9211
Report and Financial Statements
For the year ended 30 June 2017
NOTES (CONTINUED)
2017 2016
USD USD
3 Inventories
Rotary district 9211 Pins 2,084 2,084
4 Accounts receivables
Uganda:
Bugiri 300 -
Bugolobi 760 -
Buloba 360 -
Gaba - 2
Gulu 20 -
Kabarole 225 225
Kalongo - 88
Kajjansi 20 -
Kampala 10 -
Kampala-Impala 300 -
Kampala City Makerere 320 320
Kampala-Kawempe 210 -
Kampala-Kibuli 320 -
Kampala-Nsambya 380 -
Kampala-South * (10) -
Kampala-Wandegeya 1,080 520
Kampala West - 10
Kayunga 520 380
Kigumba 600 -
Kihihi 80 -
Kumi 194 194
Kyambogo-Kampala 300 320
Kyenjojo 440 220
Lukaya 140 -
Masindi 430 250
Mbale * (153) 247
Mityana 480 -
Mubende 527 367
Muyenge * (20) -
Namugongo 160 -
Rukungiri Central * (408) 572
Tororo 10 100
Wobulenzi 240 400
Provision for bad debts - (1,173)
7,835 3,042
* These are in credit as the clubs paid their contribution in advance.
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Rotary District 9211
Report and Financial Statements
For the year ended 30 June 2017
NOTES (CONTINUED)
2017 2016
USD USD
4 Accounts receivables(continued)
Tanzania
Arusha Mount Meru 290 290
Babati 280 280
Dar es salaam -Mzizima 260 -
Iringa 70 55
Karagwe 200 200
Machame 140 -
Marangu 240 -
Mbeya - 160
Mkuu-Rombo 20 -
Mlimani 320 -
Monduli - 260
Morogoro central 460 280
Moshi mamba 38 38
Moshi Mwanga 180 -
Moshi Mwanga 240 240
Mwanza 400 220
Mwika 240 -
Nansio- Ukerewe Island 360 200
Same 280 -
Sumbawanga 200 200
USA River 160 -
4,378 2,423
Total Receivables 12,213 5,465
5 Bank Accounts
Centenary Bank (US $)-(Uganda) 102,747 92,846
Bank M Tanzania Limited (TZS) 786 1,143
Bank M Tanzania Limited (USD) 18,419 16,804
Exim Bank Ltd (TZs)-Tanzania 1,043 1,074
Exim Bank Ltd (USD Account)-Tanzania 846 457
123,841 112,324
6 Accumulated fund
Balance brought forward - 104,444 113,827
Surplus/(deficit) for the year 9,051 (9,383)
Prior period expenses (Note 7) (8,209)
105,286 104,444
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Rotary District 9211
Report and Financial Statements
For the year ended 30 June 2017
NOTES (CONTINUED)
7 Prior period expenses
The accounts for 2015/2016 had an error in the closing bank balance of one of the accounts as below:
Bank M Tanzania USD 0250029115 USD
Reported closing balance on 30/06/2016 16,804
Actual closing balance on 30/06/2016 8,595
Difference 8,209
The difference related to expenses which were not accounted for in the financial year 2015/2016.
2017 2016
USD USD
8 Accounts Payable
Rotary Tanzania 14,155 -
Unknown receipts 1,709 1,217
DG Jayesh Asher 2,776 -
Audit fee payable 1,841 1,841
20,481 3,058
9 District Governor Expenses
2017 2017 2017
USD USD USD
Uganda Tanzania Total
Airfare 6,304 22,952 29,256
Club Visit Costs 20,344 9,834 30,1780
Total expenditure 26,648 32,786 59,434
Sourced from:
RI Support budget for the District Governor 55,404
District Budget 2,776
District Governor's contribution 1,254
Total Contribution 59,434
10 Contingent liabilities
There were no material contingent liabilities as at 30 June 2017.
11 Commitments
There were no capital commitments as at 30 June 2017.
12 Events After Reporting Date
There were no events after reporting date that require disclosure in the financial statements.
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Rotary District 9211
Supplementary information
For the year ended 30 June 2017
APPENDIX : LIST OF CLUBS
UGANDA CLUBS
CLUBNUMBER OF
MEMBERS
AMOUNT PER
MEMBER USDTOTAL USD
1 Acacia-Sunset-Kampala 34 20 680
2 Arua 19 20 380
3 Bugiri 15 20 300
4 Bugolobi 38 20 760
5 Bugolobi Morningtide Kampala (87509) 30 20 600
6 Bukoto 35 20 700
7 Bushenyi 25 20 500
8 Bwebajja 23 20 460
9 Bweyogerere-Namboole 60 20 1,200
10 Entebbe 33 20 660
11 Gaba 24 20 480
12 Gulu 18 20 360
13 Hoima-Kitara 15 20 300
14 Ibanda 17 20 340
15 Iganga 18 20 360
16 Jinja 57 20 1,140
17 Kabale 21 20 420
18 Kabarole 25 20 500
19 Kabwohe 12 20 240
20 Kajjansi 38 20 760
21 Kalisizo 19 20 380
22 Kampala 75 20 1,500
23 Kampala-Central 49 20 980
24 Kampala City-Makerere 16 20 320
25 Kampala Day-Break 18 20 360
26 Kampala-East 52 20 1,040
27 Kampala-Impala 15 20 300
28 Kampala-Kawempe 28 20 560
29 Kampala-Kibuli 16 20 320
30 Kampala Metropolitan 22 20 440
31 Kampala Munyonyo 23 20 460
32 Kampala Muyenga Breeze 35 20 700
33 Kampala Naguru 27 20 540
34 Kampala Nalya 44 20 880
35 Kampala-North 86 20 1,720
36 Kampala-Nsambya 49 20 980
37 Kampala South 49 20 980
38 Kampala-Ssese Islands 75 20 1,500
39 Kampala-Wandegeya 28 20 560
40 Kampala-West 37 20 740 41 Kasangati 33 20 660
42 Kasese 28 20 560
43 Kayunga 7 20 140
44 Kigumba 30 20 600
45 Kihihi 8 20 160
Appendix I
Rotary District 9211
Supplementary information
For the year ended 30 June 2017
APPENDIX : LIST OF CLUBS (continued)
UGANDA CLUBS (continued)
CLUBNUMBER OF
MEMBERS
AMOUNT PER
MEMBER USD TOTAL USD
46 Kisugu-Victoria View, Kampala (87467) 33 20 660
47 Kitgum 16 20 320
48 Kiwatule 58 20 1,160
49 Kololo-Kampala 76 20 1,520
50 Kumi 13 20 260
51 Kyambogo-Kampala 26 20 520
52 Kyengera 53 20 1,060
53 Kyenjojo 11 20 220
54 Kyotera 25 20 500
55 Lira 15 20 300
56 Lubowa 37 20 740
57 Lukaya 12 20 240
58 Makindye 38 20 760
59 Makindye West-Kampala 29 20 580
60 Masaka 33 20 660
61 Masindi 9 20 180
62 Mbale 21 20 420
63 Mbarara 44 20 880
64 Mbarara East 15 20 300
65 Mengo 51 20 1,020
66 Mityana 24 20 480
67 Mubende 8 20 160
68 Mukono 33 20 660
69 Mukono Central 11 20 220
70 Muyenga 115 20 2,300
71 Namugongo 41 20 820
72 Nansana 45 20 900
73 Nateete-Kampala 32 20 640
74 Nkumba 30 20 600
75 Nsangi 24 20 480
76 Ntinda 30 20 600
77 Ntungamo 11 20 220
78 Port-Bell 28 20 560
79 Rubaga 28 20 560
80 Rukungiri Central 4 20 80
81 Rwampara 13 20 260
82 Seeta 24 20 480
83 Soroti Central 28 20 560
84 Source of the Nile 26 20 520
85 Sunrise-Kampala 41 20 820
86 Tororo 11 20 220
87 Wobulenzi 12 20 240
88 Buloba 29 20 580
TOTAL 2689 1,760 53,780
Appendix I
Rotary District 9211
Supplementary information
For the year ended 30 June 2017
APPENDIX : LIST OF CLUBS (continued)
TANZANIA CLUBS
CLUBNUMBER OF
MEMBERS
AMOUNT PER
MEMBER USDTOTAL USD
1 Arusha Golden Sunrise 8 20 160
2 Arusha Mount Meru 27 20 540
3 Babati 11 20 220
4 Dar-es-Salaam-Mzizima 13 20 260
5 Machame 7 20 140
6 Mkuu-Rombo 11 20 220
7 Mlimani 16 20 320
8 Morogoro central 9 20 180
9 Moshi Mamba 15 20 300
10 Mwanza 9 20 180
11 Mwika 12 20 240
12 Nansio-Ukerewe Island 8 20 160
13 Same 14 20 280
14 USA River 8 20 160
15 Marangu Kibo 20 20 400
16 Moshi Mwanga 9 20 180
17 Iringa 12 20 240
18 Morogoro North 10 20 200
19 Dar-es-Salaam North 32 20 640
20 Arusha 17 20 340
21 Bahari-Dar-es-Salaam 43 20 860
22 Bukoba 20 20 400
23 Dar-es-Salaam 31 20 620
24 Dar-es-Salaam Mikocheni 16 20 320
25 Dar-es-Salaam Oyster Bay 60 20 1200
26 Karagwe 10 20 200
27 Marangu 12 20 240
28 Moshi 21 20 420
29 Mwalimu Nyerere Dodoma 15 20 300
30 Songea 13 20 260
31 Sumbawanga 10 20 200
32 Tanga 23 20 460
33 Zanzibar Stonetown 20 20 400
34 Igoma Mwanza 12 20 240
35 Musoma 8 20 160
TOTAL 582 700 11,640
Appendix I