The Vietnam Education Foundation 2011 Annual Report

Page 82 Annual Report 2011
NOTE 10 – RECONCILIATION OF NET COST OF OPERATIONS (PROPRIETARY) TO BUDGET
(FORMERLY THE STATEMENT OF FINANCING), CONTINUED
2011 2010
Resources Used to Finance Activities:
Budgetary Resources Obligated
Obligations Incurred $ 4,914,983 $ 4,847,839
Less: Spending Authority from Offsetting Collections
and Recoveries 2,000 4,496
Obligations Net of Offsetting Collections and Recoveries 4,912,983 4,843,343
Net Obligations 4,912,983 4,843,343
Other Resources
Imputed Financing from Costs Absorbed by Others 42,299 24,307
Net Other Resources Used to Finance Activities 42,299 24,307
Total Resources Used to Finance Activities 4,955,282 4,867,650
Resources Used to Finance Items not Part of the Net Cost of Operations
Change in Budgetary Resources Obligated for Goods
Services and Benefits Ordered But Not Yet Provided 56,530 1,000
Total Resources Used to Finance Items Not Part of the Net Cost
of Operations 56,530 1,000
Total Resources Used to Finance the Net Cost of Operations 4,898,752 4,866,650
Components of the Net Cost of Operations that will not Require or Generate
Resources in the Current Period:
Components Requiring or Generating Resources in Future Periods:
Increase in Annual Leave Liability 44,344 19,255
Total Components of Net Cost of Operations that will Require or Generate
Resources in Future Periods 44,344 19,255
Total Components of Net Cost of Operations that will not Require or Generate
Resources in the Current Period 44,344 19,255
Net Cost of Operations $4,943,096 $4,885,905
*Amounts may be off by a dollar due to rounding.
NOTE 11 – SUBSEQUENT EVENTS
In preparing these financial statements, management has evaluated events and transactions for potential recognition or
disclosure through November 15, 2011, which is the date the financial statements were available to be issued.
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