INTERNATIONAL SOLID WASTE ASSOCIATION - Denkstatt

5. Financial Overview
Annual Account 2010
The results for 2010 show an overall surplus of € 44,531
and exceed the budget by approximately € 8,000. This
result has been achieved through optimisation measures
and cost cutting actions. The external audit report on the
financial statements of the year 2010 did not give rise to
any objections and according to the auditor the financial
statements comply with legal requirements and give a
true and fair view of the assets and liabilities of ISWA and
its income and expenses. Also the internal auditors certify
in their report the correctness of the accounts 2010 and
the result 2010.
Budget 2012
On the basis of the projected results for 2011, the numbers
from previous years and the expected achievements we
developed the Budget for the year 2012. We estimate with
moderate higher income compared to the budget for 2011
due to increased number of memberships and revenues
from projects and other sources. The expenses in total are
higher due to increased project funding, increased international
presence, increased staff costs and spending for
optimization measures. The budgeted overall result shows
a surplus of € 13,000.
Projection 2011
The figures for 2011 are showing that the projected surplus
will be likely around € 70,000 higher than budgeted.
This favourable result is due to additional revenues from
successful projects and increased membership payments.
The general expenses will not exceed the budget and
the extra workload caused by the projects resulted in
hiring of one additional part time staff member. From the
Project Grant a sum of € 131,000 is dedicated to specific
projects in 2011.
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