ll I pwc F T lndependent auditor's report To the members of Old Anandians' Buddhist Association Auditor's Responsibility

Transcription

1 il l li i r lr ll h l pwc lndependen audior's repor o he members of Old Anandians' Buddhis Associaion Repor on he inancial Saemens DC 2 Page 1 We have audied he accompanying financial saemens of Ananda Vihara Mandhira Renovaion Projec of Old Anandians' Buddhis Associaion ("he Projec"), which comprise saemen of receips and paymens for he period from 21 Sepember 2013 o 25 Sepember 2015, and a summary of significan accouning policies and oher explanaory informaion of he funds received and uilised by he Projec. he financial saemens of he Projec have been prepared by managemen using he cash basis of accouning. Managemen's Responsibiliy for he inancial Saemens Managemen is responsible for he preparaion of hese financial saemens in accordance wih he cash basis of accouning, which is he basis of accouning for he Projec of Old Anandians' Buddhis Associaion and for such inernal conrol as managemen deermines is necessary o enable he preparaion of financial saemens ha are free from maerial missaemen, wheher due o fraud or error. Audior's Responsibiliy Our responsibiliy is o express an opinion on hese financial saemens based on our audi. We conduced our audi in accordance wih Sri Lanka Audiing Sandards. hose sandards require ha we comply wih ehical requiremens and plan and perform he audi o obain reasonable assurance abou wheher he financial saemens are free from maerial missaemen. An audi involves performing procedures o obain audi evidence abou he amouns and disclosures in he financial saemens. he procedures seleced depend on he audio/s judgmen, including he assessmen of he risks of maerial missaemen of he financial saemens, wheher due o fraud or error. ln making hose risk assessmens, he audior considers inernal conrol relevan o he Projec's preparaion of he financial saemens in order o design audi procedures ha are appropriae in he circumsances, bu no for he purpose of expressing an opinion on he effeciveness of he Projec's inernal conrol. An audi also includes evaluaing he appropriaeness of accouning policies used and he reasonableness of accouning esimaes made by managemen, as well as evaluaing he overall presenaion of he financial saemens. We believe ha he audi evidence we have obained is sufficien and appropriae o provide a basis for our audi opinion. Opinion ln our opinion, he saemen of receips and paymens of he Projec for he period from 21 Sepember 2013 o 25 Sepember 2015 are prepared, in all maerial respecs, he funds received from Old Anandians' Buddhis Associaion by he Projec during he period rom2l sepember 2013 o 25 Sepember 2015 in accordance wih he cash basis of accouning. lndependen Audior's Repor coninued on page 2. l ' Pricewaerhousecoopers, P o. Box g9, oo Braybrooke place, colombo z, sri Lanka : +94 Q) , 47 gg$ : +94 (r) 4o 3g7, u,wrv.pnc.com/lk Parners Y. Kanagasabai CA, D.,S.H. Mudalige CA, C.S. Manoharan CA, N.R. Gunasekera CA. S. Gajendran CA, Ms. S. Hadgie CA, Ms. S. perera ACA,.U. Jayasinghe ACA PricewaerhouseCoopers samemberfrrmofpricewaerhousecooperslnernaionallimied,eachmemberfirmofwhichlsaseparaelegaleniy

2 _! l,!- h l,! - l' - ffiffis ffi!:r **e pllrc lndependen audior's repor o he members of Old Anandians' Buddhis Associaion Repor on he inancial Saemens (cond) Basis of Accouning and Resricion on Disribuion [DC 2] Page2 Wihou modifying our opinion, we draw aenion o Noe 2 o he financial saemens, which describes he basis of accouning. he financial saemens are prepared for he use of Old Anandians' Buddhis Associaion in undersanding he financial aciviies of he Projec. As a resul, he financial saemens may no be suiable for anoher purpose. Our repor is inended solely for Old Anandians' Buddhis Associaion and is members and should no be disribued o paries oher han old Anandians' Buddhis Associaion and is members. 27 De. 2+1, / COLOMBO D-;u 1-" CHARERED ACCOUNANS :

3 E OLD A{ANDANS' BUDDHS ASSOCAON [ANANDA VHARA MANDHRA RENOVAON PROJEC] DC 2l pase 3 Saemen of receips and paymens (allamouns are shown in Sri Lanka Rupees) Opening cash balance RECEPS: Proceeds from donors Proceeds from icke sale lneres income Noes Sepember 2013 o 25 Sepember Z01S fr== * "' -' ::"-:- i+---==:=,:.l i:l,::::i: :iii\= q.::::::jr :iilli',:!:::.:::::r,!: 4;:i= PAYMENS: Engineering cos Oher expenses Cash and cash equivalens in excess cerify ha his financial saemen has been prepared in compliance wih he requiremens of he policy of Ananda Vihara Mandhira Renovaion projec, {,,-- )6 / '/ Y':' Dae?3/(?J*!r Dae Secreary i"i..1.1.:.2.. ::*. r.l_... Dae : ',.','d*: -, A:!:,.' il'. '..ri:, -.1 ri. i, \, r '\"ui;;;#;;re"5" 1- he noes on pages 4 o 5 form an inegral par of hese financial saemens. Audiors' repor on pages 1 and2.

4 OLD ANANDANS BUDDHS ASSOCAON [ANANDA VHARA MANDHRA RENOVAON PROJEC] Noes o saemen of receips and paymens (ln he noes all amouns are shown in Sri Lanka Rupees unless oherwise saed) DC 2l Pase 4 General inforrnaion Old Anandians' Buddhis Associaion is a sub sociey of Old Anandians Union. Ananda Vihara Mandhira Developmen Projec is iniiaed by Old Anandians' Buddhis Associaion which is locaed in he Ananda College a Maradana. he projec was commenced on 21 Sepember 2013 and handed over o he Ananda College on 25 Sepember 'Ananda Vihara" sood as he "Cres" of Ananda College, in he middle of Colombo ciy for close upon a half a cenury of years. his mos respeced archiecure wihin he College ges exposed o dangerous condiions from ime o ime due o heavy raffic in he viciniy. Anandians of all walks of life spread over he whole globe ge ogeher, hand in hand o help heir alma maer in such siuaions. Ananda Vihara Renovaion projec includes Concree repairs o damaged roof over he shrine, New Concrees, where necessary, Waerproofing work, lmprovemens o lnerior and Exerior wall finishes, Paining and, Elecrical lighing, coupled wih newly added feaures of, Access ramp for he disabled, Granie flooring, Mechanical venilaion sysem, CCV sysem,, Sorm waer disposal sysem, a New curain for he Shrine, Landscaping & lnerior urniure ec., o Basis of preparaion he policy of Old Anandians' Buddhis Associaion for Ananda Vihara Mandhira Renovaion Projec, is o prepare he saemen of receips and paymens on a cash basis. On his basis, receips are recogn2ed based on funds received and expenses are recognized when cash is disbursed. 3 Proceeds from donors 21 sepember 2013o 25 Sepember 20{5 oal grans received from differen donors he grans received from donors have been classified as follows; Caegory (Rs) 0-10,000 10,001-25,000 25,001-50,000 50,001-75,000 75, , , , , , ,001-1,000,000 1,000,001-10,000,000 over 10,000,000,.1,3",.r' No of donors Amouns (Rs) 1,546,617 1,144,915 1,906,500 '128,000 2,700,000 1,113,134 1,164,745 4,550,000 1,062,436 10,000,000 25,316,347

5 ! OLD ANANDANS' BUDDHS ASSOCAON [ANANDA \rhara MANDHRA RENOVAON PROJEC] Noes o saemen of receips and paymens (ln he noes all amouns are shown in Sri Lanka Rupees unless oherwise saed) 4 Proceeds from icke sale Proceeds from icke sale neres income 21 Sepember 2013 o 25 Sepember 20;15 DC 2l Pase 5 Receips for he projec are deposied in fixed deposis in name of "Ananda College Developmen und". he ineres income received from fixed deposis are considered as receips for he projec. Donaions received in goods Donor's name Descripion Mr. UpaliMadanayake Cables Mr. Kingsley Ranawake Pain Mr. Pani Ranwala Camera syser Goods in excess afer he projec Goods uilized for he projec Revised conrac value Paymens made Amoun 180,554 1,552,642 86,000 1,919,{96 444,797 1,374,399 Goods in excess represen remaining pain and hey were ransferred o he school projec developmens. Engineering cos Engineering cos represens cos incurred for projec managemen and conracors. N and A Engineering Services (Privae) Limied Ally Weerasinghe(Privae) Limied ADS lnernaional (Privae) Limied 21 Sepember 2013o25 he oal cos payable o N and A Engineering Services (Privae) Limied consiss as follows; i.''j.':,r.iii.f' _,:r. Reenion,.':"1,,1, '*,"4 3,693,900 24,120,929 22,743,961 1,376,969

6 OLD ANANDANS' BUDDHS ASSOCAON [ANANDA VARA MANDHRA RENOVAON PROJEC] Noes o saemen of receips and paymens (ln he noes all amouns are shown in Sri Lanka Rupees unless oherwise saed) Oher expenses Saionary and oher adminisraive expenses 21 Sepember 2013 o 25 DC 2l Pase 6 Oher adminisraive expenses include expenses incurred by Old Anandian Buddhis Associaion for he Ananda Vihara Mandhira Renovaion Projec and reimbursed by he projec collecion. f- g Excess / (shorfall) cash and cash equivalen Excess cash and cash equivalen Reenion payable o N and A Engineering Services (Privae) Limied (Shorfall) cash and cash equivalen 2015,,.,,,' 604,926 rl.:.:::,:,:, :.:-:':::l 1:376:968: