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NEW HOPE FOR CAMBODIAN CHILDREN
FINANCIAL STATEMENTS
JULY 31, 2012
2
NEW HOPE FOR CAMBODIAN CHILDREN
FINANCIAL STATEMENTS
JULY 31, 2012
CONTENTS
Pages
Statement by Management 3
Auditor’s report 4
Balance Sheet 5
Statement of Receipts and Expenses 6
Notes to Financial Statements 7 - 13
3
MANAGEMENT STATEMENT
It is the responsibility of the management to prepare the statement of receipts, expenses and
fund balance for each financial year which gives a true and fair view of the state of affairs of
the NEW HOPE FOR CAMBODIAN CHILDREN (NHCC) for the fiscal year ended July 31,
2012 and the surplus or deficit for that period. In preparing this statement of receipts, expenses
and fund balance, the management is required to:
Select suitable accounting policies and then apply them consistently;
Make judgments and estimates that are reasonable and prudent; and
Prepare the statement of receipts, expenses and fund balance on the going concern
basis unless it is inappropriate to presume that the organisation will continue its
operations.
The management is responsible for keeping proper accounting records which disclose with
reasonable accuracy at any time the financial position of the organisation and its projects.
They have general responsibility for taking such steps as are reasonably open to them to
safeguard the assets of the organisation and to prevent and detect fraud and other
irregularities.
On behalf of management
On behalf of management
__________________________ ___________________________
Mr. John Tucker Sok Phalla
Management Advisor Director
29th August 2012
4
Barachina Consulting Co., Ltd
AUDITOR’S REPORT: NEW HOPE FOR CAMBODIAN CHILDREN (NHCC)
We have audited the balance sheets and statements of receipts and expenses of NEW HOPE
FOR CAMBODIAN CHILDREN (NHCC) for the fiscal years ending July 31, 2012. The
statements have been prepared in accordance with the accounting policies and accounting
principles generally accepted in Cambodia.
Respective responsibilities of the Organization’s management and auditors
The balance sheets and statements of receipts and expenses are the responsibility of the
Organization’s management. In preparing these statements, which gives a true and fair view,
it is fundamental that appropriate accounting policies are selected and applied consistently.
Our responsibility is to express an opinion on these balance sheets and statements of receipts
and expenses based on our audit.
Basis of opinion
We conducted our audit in accordance with generally accepted auditing standards. An audit
includes examining, on a test basis, evidence, supporting the amounts and disclosures in the
balance sheets and statements of receipts and expenses. It also includes assessing the
accounting principles used and significant estimates and judgment made by management in
the preparation of the statements, and whether the accounting policies are appropriate to the
project’s circumstances, consistently applied and adequately disclosed.
We planned and performed our audit so as to obtain all the information and explanations,
which we considered necessary in order to provide us with sufficient evidence to give
reasonable assurance as to whether the balance sheets and statements of receipts and expenses
are free of material misstatements. In forming our opinion we also evaluated the overall
adequacy of the presentation of information in the balance sheets and statements of income
and expenses. We believe that our audit provides a reasonable basis for our opinion.
The Organization’s policy is to prepare the accompanying balance sheets and statements of
receipts and expenses balance on the cash basis. On this basis, receipts are recognized when
received rather than when earned, and disbursements are recognized when paid rather than
when incurred.
Opinion
In our opinion, balance sheets and statements of receipts and expenses gives a true and fair
view, in all material respects, of NEW HOPE FOR CAMBODIAN CHILDREN (NHCC) as at
July 31, 2012, in conformity with the accounting policies and accounting principles generally
accepted in Cambodia.
License No. 33855
Philippine Regulation Commission
Phnom Penh, Cambodia
29th August 2012
4D Street 271, Boeung TomPoun, Phnom Penh, Cambodia Tel: 012-711-501 E-mail: [email protected]
5
New Hope for Cambodian Children
Balance Sheet
July 31, 2012
US DOLLARS
ASSETS
CURRENT ASSETS
Cash on hand 2
4,097
Cash in bank 3
261,042
Program Advances 4
49,847
314,986
LIABILITIES
CURRENT LIABILITIES
Employee Benefits Payable
84,837
Designated Fund - Sunrise Project 5
25,625
110,462
FUND BALANCE
Fund balance, beginning
182,887
Add: Excess of Receipts over Expenses
21,637
Fund balance, end
204,524
314,986
The accompanying notes on pages 6 to13 form part of these financial statements
6
New Hope for Cambodian Children
Statement of Receipts and Expenses
US Dollars
August 1, 2011 to July 31, 2012
Receipts
Grants
URC-USAID
252,431
Grants for Outreach/Provinces Note 6
283,736
Grants for Village Note 7
754,675
Australian Education
11,000
Other income Note 8
21,226
1,323,068
Expenses
Salaries & benefits -International staff
45,154
Salaries & benefits -National staff Note 9
283,763
Equipments & maintenance Note 10
27,041
Supplies Note 11
38,252
Activities Costs (Outreach/URC USAID) Note 12
253,150
Weekly Food Expenses Note 13
154,125
Education expenses Note 14
32,176
Village, Special Project, Livelihood, and Quilt
Expenses
397,040
Vehicle support Expenses Note 15 43,588
Village Construction expenses Note 16 132,938
Special projects (Quilt, Camp Village, etc.) Note 17 220,515
Operations Support costs Note 18
61,828
Australian Education Note 19
8,902
1,301,432
Excess of Receipts over Expenses
21,637
The accompanying notes on pages 6 to13 form part of these financial statements
NEW HOPE FOR CAMBODIAN CHILDREN
NOTES TO FINANCIAL STATEMENTS
JULY 31, 2012
7
1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Basis of preparation
The financial statements have been prepared under the historical cost convention on a cash
basis. The financial statements are not intended to present the financial position and results of
operations of the Organisation in accordance with accounting principles and practices generally
accepted in countries and jurisdictions other than Cambodia. The accounting principles and
practices in Cambodia may differ from those generally accepted in countries and jurisdictions
other than Cambodia.
Capital Expenditures
Capital expenditures are charged to expense when incurred.
Foreign currency transactions
The financial statements are expressed in United States Dollars. Transactions denominated in
local currency are translated into U.S. dollars and are recorded in the books using the exchange
rate prevailing at the time of transactions. Foreign exchange gains or loss are charged to
operation.
2 Cash on Hand
Cash on Hand-Others
1,305
Cash on Hand-URC
1,049
Cash on Hand-SUNRISE 3
1,744
4,097
3 Cash in Banks
CiB (Cambodia Public Bank-1036467)
19,211
CiB (ANZ-1625874-Fringe)
49,690
CiB (ANZ-2044763-Health)
15,269
CiB (ANZ-2003907-Sunrise/Ream)
37,405
CiB (ANZ-1635928-Activity)
131,865
CiB (ACLEDA)-24002076024919-URC
7,601
261,042
NEW HOPE FOR CAMBODIAN CHILDREN
NOTES TO FINANCIAL STATEMENTS
JULY 31, 2012
8
4 Cash Advances
Cash advance_Village
1,131
Cash Advance_Loan
18,280
Cash Advance_URC
2,076
Cash Advance_Health
2,000
Cash advance_SUNRISE 3
547
Cash advance_Outreach
7,550
Cash Advance Livelihood
8,500
Cash Advance - Quilt
220
Cash Advance - Camp
8,343
Cash Advance - Uong Sopheak - Outreach
1,200
49,846.62
5 SUNRISE/REAM Project
Sunrise is not an NHCC project, rather it is under NHCC only for management purposes. Thus,
the amount received is not considered as a grant to NHCC. Funds received are treated as
designated funds and any unspent amount is considered a payable in the balance sheet section
for financial statements presentation
Receipts
62,935
Prior period unspent funds
37,831
Total funds for FY 2011-2012
100,766
Expenses
Salaries & benefits -International staff 12,000
Salaries -National staff 16,008
National Staff - Fringe Benefits 2,316
Activities/Operations costs
Equipments 1,675
Supplies 4,179
Activities/Outreach costs 10,732
Food 16,043
Education 1,841
Operations Support costs 10,347
75,141
SUNRISE/REAM Unspent Funds (Designated)
25,625
NEW HOPE FOR CAMBODIAN CHILDREN
NOTES TO FINANCIAL STATEMENTS
JULY 31, 2012
9
6 Grants for Outreach/Provinces
Takeo
59,655
Kampot
36,272
Kampong Thom
15,000
Kampong Speu
16,204
Kampong Som
20,500
Svay Rieng
48,055
Neak Loeung
43,115
Prey Veng
17,283
Kampong Chnang
27,652
283,736
7 Grants for Village
Camp/Follow up
35,871
Volunteer Donation
27,913
NHCC Special
9,604
Village - Others Income
720,751
Livelihood Net Loss (see below)
(39,464)
754,675
Livelihood Income
Chicken Raising
134,787
Mother Pig Raising
96,707
Egg Production
46,491
277,985
Livelihood expenses
Food
229,450
Vaccination
1,348
Medicines
10,612
Purchasing cost of chicks/mother pigs
47,721
Shed maintenance/repair
45
Concrete shed
15,431
Batteries charge and Tolls
356
Materials on-going process
6,568
Transport chicks & egg
699
Transport, food for staff & Sharing profit
1,575
Diesel, oil & cleaning
323
Transport of materials
607
Gasoline & maintenance transport egg
231
Electricity & other supplies
277
Farm Truck, Tuktuk, other vehicle expenses
559
Transport chicks food
1,648
317,449
Livelihood Net Loss
(39,464)
NEW HOPE FOR CAMBODIAN CHILDREN
NOTES TO FINANCIAL STATEMENTS
JULY 31, 2012
10
8 Other Income
Sale of Quilts
20,581
Interest Income (net of tax)
646
21,226
9 Salaries & Benefits -National Staff
Salaries National staff
232,576
Benefits
51,186
283,763
10 Equipment & maintenance
Office equipment
1,332
Village Equipment
4,479
Batteries/recharge
776
Landscape/tree/flowers
403
Maintenance
655
Remodelling/Repair
19,397
27,041
11 Supplies
Office supplies
3,934
Transitional house supplies
1,495
Village supplies
3,367
Bed room supplies
6,522
Kitchen Supplies
1,415
Christmas supplies
8,287
Monthly supplies
15,677
Copy docs/photo supplies
1,038
Other supplies
696
38,252
12 Activities cost
Quilt salaries support
5,400
Food for transition house
8,668
Children hospital expenses
1,593
Visitor meal
465
Social support food
185,995
Social Educ. Support
51,284
School support 5,848
Clothes 9,463
Transportation 26,399
MMM support 1,224
Fabric for quilt 6,278
IGP project 1,839
IO Med HBC 234
Funeral
465
253,150
NEW HOPE FOR CAMBODIAN CHILDREN
NOTES TO FINANCIAL STATEMENTS
JULY 31, 2012
11
13 Village Weekly Food Expenses
Food
131,278
Rice
30,108
Extra food
3,962
Water/Coke/drinks
44
Cooking Gas/Charcoal
4,776
154,125
14 Village Education expenses
Library books/supply/equipment
722
books
617
Bikes/repair
893
Playground set up/clearance
16,517
School fees
1,910
School Supplies
504
Uniform
2,742
Birth certificate
233
School process
105
School transfer fee
277
Hair Cut
893
Pre-school supplies & Nurse
2,152
Copy
464
Teacher training
172
Computers/supplies
345
T-Shirt
1,472
University fees
200
Others (awards) / Music transport fee
211
Sport
329
Water/cake for pre-school
247
Music instrument
1,170
32,176
NEW HOPE FOR CAMBODIAN CHILDREN
NOTES TO FINANCIAL STATEMENTS
JULY 31, 2012
12
15 Village Vehicle support expenses
Ford/USAID Vehicle
6,177
Van Expenses
5,027
Market Truck
3,499
Land cruiser expenses
179
Lexus expenses
198
Bus 25 seats
6,524
KIA Carnival
1,020
Jeep
2,198
Nissan Pick up
381
Tuk Tuk
690
Generator
17,672
Small Generator
23
43,588
16 Village Construction/support
Education center
10,000
Tables for school
1,125
Art Building
28,890
Sheds
6,500
Staff houses
1,915
Bonus for Christmas
2,020
New Hope House
80,240
Audit fees/training
2,248
132,938
17 Special Project
NHCC Special
6,788
Insurances
2,915
Medical/Hospitalisation
15,181
Clothes/Shoe villages
20,109
Social Support
1,889
Trips/Activities/Team building
6,235
Fund Raising
9,381
Veterinary; other expenses
542
Garden Expenses
1,554
Small generator - biogas
8,221
Farm truck
37
Lawn mower (cutting grass machine)
2,059
Welding machine
12
Quilt
24,707
Camp Activities
29,673
Solar Expenses
4,858
Volunteers expenses
26,035
Bank Interest charge
351
New Hope Houses
59,828
220,515
NEW HOPE FOR CAMBODIAN CHILDREN
NOTES TO FINANCIAL STATEMENTS
JULY 31, 2012
13
18 Operation Cost
Office rent
5,400
Transition house rent
2,760
Transitional Day Care Furniture & Clothing Supplies 254
Admin utility charges
1,459
Utilities - Transitional house
812
Field workers transport
26,387
Gasoline 20,529
Repair 2,898
Oil 2,244
Supplies 106
Boat/Ferry fees 580
Parking 30
Staff transportation
124
E-mai/Internet
1,810
Staff communication
11,971
Road fees/Tool box
1,808
Monitoring expenses
6,172
Diesel for vehicle 4,977
Food/Refreshments 982
Accommodation 25
Others 20
Boat/Ferry fees 168
Trash/Garbage fees
844
Village Trash 281
Diesel for garbage 476
Repair 87
Room rental
360
Other health supplies
1,667
61,828
19 Australian Education
Air Ticket
3,016
Supply
42
Health Insurance
380
Pocket Money
2,200
Transportation
220
Visa/Photos
236
Clothes/Shoes
208
Room/board
2,400
Food
200
8,902
