SHISELWENI REFORMED CHURCH HOME BASED CARE FINANCIAL STATEMENTS

Transcription

1 SHISELWENI REFORMED CHURCH HOME BASED CARE FINANCIAL STATEMENTS for the year ended 28th February 2011 PLEASE NOTE: THE FIGURES BELOW ARE IN SOUTH AFRICAN RAND Ockert Vermeulen Geoktrooieerde Rekenmeester (SA) Geregistreerde Ouditeur

2 SHISELWENI REFORMED CHURCH HOME BASED CARE ANNUAL FINANCIAL STATEMENTS CEO's Report Balance sheet Detailed income statement Notes to the Financial Statements Pages Approval and statement of responsibility The Company's Directors are responsible for the maintenance of adequate accounting records, and the preparation and integrity of the annual financial statements and related information. The auditors are responsible to report on the fair presentation of the financial statements. The Directors are also responsible for the Company's system of internal financial control. These are designed to provide reasonable, but not absolute, assurance as to the reliability of the financial statements, and to adequately safeguard, verify and maintain accountability of assets, and to prevent and detect material misstatement and loss. Nothing has come to the attention of the Directors to indicate that any material breakdown in the functioning of these controls, procedures and systems has occurred during the year under review. The financial statements have been prepared on the going concern basis, since the Members have every reason to believe that the body corporate has adequate resources in place to continue in operation for the foreseeable future. The annual financial statements set out on pages 6 to 10 are the responsibility of the Members and have been approved by the Directors on 3 June 2011 and are signed on their behalf by: Chairman CEO

3 Report of the Independent Auditors Ockert Vermeulen Geoktrooieerde Rekenmeester (SA) Chartered Accountant (SA) Posbus 1241 Posbus 1793 P.O. Box 1241 P O Box 1793 GEORGE HILLCREST Cell : Fax: ockverm@mweb.co.za ockertvermeulen@hotmail.com To the Members of: SHISELWENI REFORMED CHURCH HOME-BASED CARE We have audited the Annual Financial Statements set out on pages These Financial Statements are the responsibility of the Company's Directors. Our responsibility is to report on these financial statements based on our audit. Scope We conducted our audit in accordance with statements of South African Auditing Standards. These standards require that we plan and perform the audit to obtain reasonable assurance that the Financial Statements are free of material misstatement. An Audit includes: a. Examining on a test basis, evidence supporting the amounts and disclosures included in the Financial Statements. b. Assessing the accounting principles used and significant estimates used by management. c. Evaluating the overall financial presentation. We believe that our audit provides a reasonable basis for our opinion. We have received all the information and explanations we required. Audit opinion. In our opinion, these Financial Statements fairly present, in all material aspects, the financial position of the Institution at 28th February 2011 and the results of its operations and cash flow information for the year then ended in accordance with Generally Accepted Accounting Practice issued by the South African Institute of Chartered Accountants. Ockert Vermeulen Chartered Accountant (SA) Registered Accountant and Auditor

4 Once again the past year held many highlights for Shiselweni Reformed Church Home-Based Care (SHBC). At the beginning of the year the ministry consisted of 22 projects with 627 volunteers in total. By the end of the year the group had grown to 26 projects with 746 volunteers, caring for approximately clients. Since starting with SHBC, we have had an average of a 21% fall-out (caregivers leaving the project due to death, sickness, fatigue or because of being offered another work). Although this is considered to be a relatively small fall-out measured against other similar organizations, we would still like to bring this percentage down, primarily through giving our caregivers even greater support to prevent burnout. In a ministry such as this, finances will forever be a challenge. God is blessing us with a high number of volunteers stepping forward, wishing to be trained. The cost of training and equipping one caregiver is approximately R450 ($75). A very basic food parcel costs around R105 ($17.50). When multiplied by 746, this becomes a huge R78,000 ($13,000) per month! Even keeping the medical bags filled with the most basic needs, such as multi-vitamins, pain tablets, ointment, gloves, etc, adds up to R70 ($12) per caregiver per month. Our "Adopt-A-Caregiver" program, through which we intend to find one supporter for each of the caregivers who will be willing to contribute R250 ($40) per month towards the support of the caregiver still needs to expand. With this support we will be able to replenish the medical bags of the caregivers as well as help them with food. Presently around 5% of the caregivers are supported in this way, but we believe that this may be one of the most exciting ways to get hundreds of people involved in a sustainable fashion with the work of SHBC. It is our goal to increase this support up to at least 15% during the coming year. If each of our present supporters could recruit two other supporters, then this goal could be reached or even surpassed during the present year. SHBC has become a place of choice which short-term mission teams both from South Africa and abroad feel comfortable in visiting. During the past year we have had three teams from the USA visit us: Palm Beach Atlantic University in Florida, Central Community Church in Fresno, California as well as a group from Sacramento, California. Some of the outreaches are focused on preliminary investigation with the view of establishing long-term partnerships. Others are more specialized, such as medical teams and 4x4 outreaches to assist us in mapping the area where we are working. As CEO of SHBC I am also often invited to speak at church and mission conferences and I am also regularly invited to preach in churches in South Africa. Setting up partnerships remains an important part of our work. It is really one of our ultimate goals, that people will not only support the caregivers but build lasting relationships with them. A few reasons can be identified why people wish to get involved in this ministry: * The volunteers in this ministry have a heart and a passion for what they are doing, which is contagious * Money is spent responsibly with an extremely small amount being spent on overheads * Emphasis is placed on building relationships, both with visitors to the ministry as well as with the clients * Groups visiting this ministry leave with the impression that both they and the ministry had gained from the visit After Jeanet Botha left our ministry to pursue her own career as pharmacist, we wondered how we would be able to cope without someone of her caliber to assist us. Then a family friend of many years who had retired from her occupation, volunteered to help us. With energy and drive that would make many people thirty years younger than herself jealous, Truna Odendal visits the different projects four days per week and has become indispensable for the work of SHBC.

5 We have received many compliments on the quality of SHBC s website. In this website we try and cover the many aspects of our ministry in order for people to better understand what SHBC is all about. The website can be accessed at As you read this report and study the figures and graphs, we ask you to see in your mind not the numbers written in this report, but the people of Swaziland, many of whom are living in extreme poverty, many of whom are HIVpositive, some of whom have died in the past year and many of whom are dying even now. We want to honour you for the way in which you have contributed towards the caring of these people. Our caregivers selflessly sacrifice their time, energy and even the meager food sources they have in order to help their clients. They do not wish to be rewarded for what they are doing. We fully realize that, in similar vein, our supporters also do not want to be thanked. But you may be assured that we have prayed for God s blessing upon each one of you. In Christ, Dr Arnau van Wyngaard (CEO: SHBC)

6 Page 6 SHISELWENI REFORMED CHURCH HOME BASED CARE BALANCE SHEET AS AT 28TH FEBRUARY 2011 ASSETS Notes Feb 28, '11 Feb 28, '10 Fixed Assets 1 381, ,073 Current Assets Current/Savings Absa Bank 2 262, ,341 Debtors 1,750 TOTAL ASSETS 645, ,414 EQUITY AND FUNDS ON HAND Equity Capitalized funds 295, ,255 Retained Earnings at 1st March ,775 72,906 Net Income / (Deficit) for the year 15, , ,030 Trust Funds Medical Kits 3 106,506 10,519 Adopt-A-Caregiver 4 129,353 56,220 Safaids 18,715 18,715 Orphans (Heather Annis Fund) 5, Preschool - 2,464 Trust Funds 259,652 88,384 TOTAL EQUITY AND FUNDS 645, ,414

7 SHISELWENI REFORMED CHURCH HOME BASED CARE INCOME STATEMENT Page 7 NOTES Mar '10 - Feb '11 Mar '09 - Feb '10 Income Donations Received 5 125, ,839 Outreach Team Contributions 6 32,136 47,507 Other Income 2,990 1,260 Interest Received 5,973 12,144 Total Income 166, ,750 Expense Training Food 8,505 15,785 Travelling Costs 2,200 18,650 Stationary 1,432 1,174 Honorarium 1,350 3,330 13,487 38,939 Co-ordinators Travelling 44,920 33,380 Food 4,830 3,300 Training - 14,600 Stationary 2, ,336 51,521 Caregivers Uniforms 7,562 12,067 Towels 4,062 7,568 Back Packs - 44,500 Medicine 19,566 34,679 Bibles 11,040 20,594 Funerals of Caregivers 9,000 1,000 Food Hampers 149,813 44, , ,753 Charity School fees 700 1,200 Clothing Orphans Water ,890 Short-term Outreach Teams Food 6,453 5,456 Travelling 10,984 13,453 Accommodation 9,360 15,320 26,797 34,229 Administration Postage Stationary Photocopies Bank charges ,234 1,301

8 SHISELWENI REFORMED CHURCH HOME BASED CARE INCOME STATEMENT - continued Page 8 NOTES Mar '10 - Feb '11 Mar '09 - Feb '10 Publicity Sign Boards 1,705 - Calendars and photos 12,825 13,825 DVD - 1,050 14,530 14,875 Motor vehicle and travelling Expenses 19,094 20,291 Insurance on Buildings Preschool 5,500 6,000 Electricity 1, Building Material 1,750 1,183 28,316 43,521 Depreciation 8 2,584 - Total Expense 342, ,154 Net deficit (175,479) (78,404) Capitalization of funds 191,156 79,273 Net Surplus 15,

9 SHISELWENI REFORMED CHURCH HOME-BASED CARE NOTES TO THE FINANCIAL STATEMENTS Page 9 Feb 28, '11 Feb 28, '10 NOTES TO THE BALANCE SHEET 1 Fixed Assets Dwaleni Kitchen - at cost 307, ,073 Hospice - at cost 50,254 - Tables 8,856 - Chairs 14, , ,073 2 Cash at bank Absa Current account 48, ,266 Absa Savings account 213,322 6, , ,341 3 Medical Kits Money collected to supply each of the caregivers with a backpack containing a Bible and basic medical supplies Opening balance 10,519 22,397 Funds received 161,399 89,792 Less spent on medical kits (65,412) (101,670) Amount not yet spent 106,506 10,519 4 Adopt-a-Caregiver Opening balance 56,220 - Funds Received 191,886 56, ,106 56,220 Less spent of medical Kits (118,753) - Amount not yet spent 129,353 56,220 5 Building Fund Opening balance - 216,815 Courageous Leadership Award Less: Amounts paid: Money spent on building 216, ,815 Amount not yet spent - -

10 SHISELWENI REFORMED CHURCH HOME-BASED CARE NOTES TO THE FINANCIAL STATEMENTS - continued Page 10 NOTES TO THE INCOME STATEMENT Feb 28, '11 Feb 28, '10 5 Donations received DRC MS 20,000 17,708 DRC SK 60,000 60,000 DRC PR - 6,000 Mergon 24,000 24,000 Donor ES 5,000 Donor PG 16,003 Donor JR 2,100 Donor TO 500 Miscellaneous Anonymous Donors 21,448 66, , ,839 6 Outreach team contributions Sacramento 8,892 - Fresno - 24,144 PBA 18,268 23,363 Other 4,976 32,136 47,507 7 Donations for Medical Kits Mergon 44,000 36,000 Swaziland Relief Fund 19,154 Project Glory 5,269 3,008 Miscellaneous Anonymous Donors 112,130 31, ,399 89,792 8 Depreciation Dwaleni - Tables 1,600 - Dwaleni - Chairs 984-2,584

11 SHISELWENI REFORMED CHURCH HOME-BASED CARE NOTES TO THE FINANCIAL STATEMENTS - continued Page 11 8 Expenditure as a percentage of total % 0% 4% 6% 2% 12% 15% Training Coordinators Caregivers 1% Charity Short-term Outreach Teams Administration Publicity Motor vehicle and travelling Other 50% % 4% 6% 3% 4% 15% 0% 8% Training Co-ordinators Caregivers Charity Short-term Outreach Teams Administration Publicity Motor Vehicle and travelling Other 59%