Rotary Report.indd - Rotary Sri Lanka

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Report of the Auditors 1 We have audited the accompanying balance sheet of Rotary - Standard Chartered School Trust (Gte) Limited as at 30 June 2006, and the related statement of fi nancial activities for the 13 months then ended, together with the accounting policies and notes as set out on pages 3 to 10. 2 Respective Responsibilities of Management and Auditors The management is responsible for preparing and presenting these fi nancial statements in accordance with Sri Lanka Accounting Standards. Our responsibility is to express an opinion on these fi nancial statements based on our audit. 3 Basis of Opinion Except as discussed in paragraph 4, we conducted our audit in accordance with Sri Lanka Auditing Standards, which require that we plan and perform the audit to obtain reasonable assurance about whether the said fi nancial statements are free of material misstatements. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the said fi nancial statements, assessing the accounting principles used and signifi cant estimates made by the management, evaluating the overall presentation of the fi nancial statements, and determining whether the said fi nancial statements are prepared and presented in accordance with the Sri Lanka Accounting Standards. We believe that our audit provides a reasonable basis for our opinion. 4 Limitation on Scope Due to the prevailing security situation in the North and East of the country, it was unsafe for us to travel to the sites in the North and East to physically observe the school buildings which have been re-constructed and the schools buildings under re-construction, although we were able to physically observe the school buildings constructed by the Trust in the Southern Province. Hence, we were unable to satisfy ourselves as to the physical status of the buildings reconstructed by the Trust in the North and East of the country. 5 Opinion In our opinion, except for the effects of such adjustments, if any, as might have been determined to be necessary had we been able to satisfy ourselves as to the matter referred to in paragraph 4, so far as appears from our examination, the Trust maintained proper books of account for the 13 months period ended 30 June 2006, and to the best of our information and according to the explanations given to us, the said balance sheet and related statement of fi nancial activities and the accounting policies and notes thereto, which are in agreement with the said books and have been prepared and presented in accordance with the Sri Lanka Accounting Standards, provide the information required by the Companies Act, No. 17 of 1982 and give a true and fair view of the Trust’s fi nancial position as of 30 June 2006 and of the results of its operations, for the 13 months period then ended. 6 Board of Management’s interests in contracts According to the information made available to us, the board of management of the Trust were not directly or indirectly interested in contracts with the Trust during the 13 months period ended 30 June 2006, except as stated in Note 10 to these fi nancial statements. CHARTERED ACCOUNTANTS COLOMBO 48 Rotary SCB Schools Trust (Gte) Ltd ‘Schools Re-awaken’ Project Annual Review
Statement of Financial Activities Notes 13 months ended 30 June 2006 Rs. INCOMING RESOURCES Receipt of funds: 2 - Specifi c projects 384,985,680 - Central fund 159,137,544 Interest on call deposits 3,404,081 Other income 500 TOTAL INCOMING RESOURCES 547,527,805 RESOURCES EXPENDED Project expenses 3 395,652,156 Administration costs 4 7,966,717 403,618,873 NET INCOMING RESOURCES 143,908,932 Balance brought forward at 26 May 2005 - Balance carried forward at 30 June 143,908,932 The accounting policies on page 51 and notes on pages 52 to 56 form an integral part of these fi nancial statements 49 Rotary SCB Schools Trust (Gte) Ltd ‘Schools Re-awaken’ Project Annual Review
Page 1 and 2: Rotary SCB Schools Trust (Gte) Ltd
Page 3 and 4: Contents 2 4 6 7 8 9 10 Chairman’
Page 5 and 6: ealized the need to turn this trage
Page 7 and 8: We had to face the same challenges
Page 9 and 10: Project Staff We needed full time p
Page 11 and 12: When Rotary fi rst undertook to reb
Page 13 and 14: Mission Accomplished - The First Si
Page 15 and 16: the whole area was festooned with c
Page 17 and 18: enriching experience and able to tr
Page 19 and 20: special people who had made this dr
Page 21 and 22: 19 Rotary SCB Schools Trust (Gte) L
Page 23 and 24: “500 lucky students have continue
Page 25 and 26: 23 Rotary SCB Schools Trust (Gte) L
Page 27 and 28: Schools Under Construction 25 Rotar
Page 29 and 30: KALUTHAWALALAI RKM VIDYALAYA Battic
Page 31 and 32: KAYANKERNI SARASWATHY VIDYALAYA Bat
Page 33 and 34: MANKERNY RCTM VIDYALAYA Batticaloa
Page 35 and 36: MAWELLA/MORAKETIARA VIDYALAYA Hamba
Page 37 and 38: PUTHUMUGATHAWARAM VIDYALAYA Battica
Page 39 and 40: SRI VINAYAGAR VIDYALAYA Kaluwanchik
Page 41 and 42: THAMBADDAI GTMS Akkaraipattu Addres
Page 43 and 44: Project Information 41 Rotary SCB S
Page 45 and 46: One of the most gratifying aspects
Page 47 and 48: 16. R.I.Dist 9630 (USD33010/43) 3,2
Page 49: Transparency & Accountability Ever
Page 53 and 54: Accounting Policies A summary of th
Page 55 and 56: 3 Project expenses 13 months ended
Page 57 and 58: 6 Advances and other receivables 30
Page 59 and 60: Milestones � January 2005 - Meeti

Rotary Report.indd - Rotary Sri Lanka

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