https://aclals.lakeheadu.ca/files/original/b9d77ffe119205cb15e306fbcbd8da95.pdf 7ded9a7ced8264d88eedf59fbab24895 PDF Text Text ACLALS INTERNATIONAL (Belgium) Financial Statements June 30, 2009 �Table of Contents Accountant’s Report Balance sheet Statement 1 Statement of Operations and Changes in Fund Balances Statement 2 Statement of Cash Flows Statement 3 Notes to Financial Statements �Accountant’s Report To the Members of ACLALS INTERNATIONAL I have verified the statement of financial position of the ACLALS INTERNATIONAL (Belgium) as at June 30, 2009, the statement of operations and changes in fund balances and statement of cash flows for the year then ended. These financial statements are the responsibility of the association’s members. My responsibility is to verify the pieces on which the accounts are built and their conformity with the Belgian GAAP. In common with many not-for-profit associations, the association derives revenue from grants, donations and conference registrations the completeness of which is not susceptible of satisfactory audit verification. Accordingly, my verification of these revenues was limited to the amounts recorded in the records of the association and I was not able to determine whether any adjustments might be necessary to revenues, excess of revenues over expenses, current assets and net assets. In my opinion, except for the effect of adjustments, if any, which I might have determined to be necessary had I been able to satisfy myself concerning the completeness of the revenues referred to in the preceding paragraph, these financial statements present fairly, in all material respects, the financial position of the association as at June 30, 2009 and the results of its operations and cash flows for the year then ended, in accordance with Belgian generally accepted accounting principles. Wilfried NIESSEN Accountant �ACLALS INTERNATIONAL (Belgium) BALANCE SHEET as at June 30, 2009 STATEMENT 1 General Fund Year € ASSETS Current assets Cash 21 467.78 € 21 467.78 € LIABILITIES AND EQUITY (Fund balance) Equity Excess beginning of the year Excess of the year 7 863.99 € 13,603.79 € 21 467.78 € Approved by Chairperson Date The accompanying notes are an integral part of these financial statements. Prior �ACLALS INTERNATIONAL (Belgium) STATEMENT OF OPERATIONS AND CHANGES IN FUND BALANCES for the year ended June 30, 2009 STATEMENT 2 General Fund Year € REVENUES (Note 2) CF Funding II 2007-2008 CF Funding I 2008-2009 Interest Refunds of branch funding 14,753.18 € 12,404.00 € 27.17 € 1,630.51 € 28,814.86 € EXPENSES Regional branch funding Travel costs Membership to FILLM Funding of conferences Donation to MSF/Zimbabwe Wreath Postage Proceedings Malta Commonwealth Education Consortium Bank charges 10,455.25 € 2,043.51 € 222.00 € 640.63 € 500.00 € 75.00 € 8.40 € 1,070.00 € 124.41 € 71.87 € 15,211.07 € Excess (deficiency) of revenues over expenses Fund balance, beginning of period Fund balance, end of period The accompanying notes are an integral part of these financial statements. 13,603.79 € 7,863.99 € 21,467.78 € Prior �ACLALS INTERNATIONAL (Belgium) STATEMENT OF CASH FLOWS for the year ended June 30, 2009 STATEMENT 3 General Fund Year Sources of cash CF Funding II 2007-2008 CF Funding I 2008-2009 Interest Refunds of branch funding 14,753.18 € 12,404.00 € 27.17 € 1,630.51 € 28,814.86 € Uses of cash Purchased services and executive expenses Funding sent to regional branches Other expenses 4 255.82 € 10,455.25 € 500.00 € 15,211.07 € Excess (deficiency) of revenues over expenses Cash balances, beginning of year Cash balances, end of year 13,603.79 € 7 863.99 € 21,467.78 € Prior �The accompanying notes are an integral part of these financial statements. ACLALS INTERNATIONAL (Belgium) NOTES TO FINANCIAL STATEMENTS June 30, 2009 1. PURPOSE OF THE ORGANIZATION ACLALS International is The Association for Commonwealth Literature and Language Studies. It is a not-for-profit association organized to promote and coordinate Commonwealth Literature Studies, organize seminars and workshops, arrange lectures by writers and scholars, publish newsletters and hold a conference triennially. There are operating chapters of ACLALS in Commonwealth countries worldwide. 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Fund Accounting The association uses the unrestricted fund method of accounting for grants and donations. The General Fund accounts for the organizations program delivery and administration activities. Revenue Recognition Revenue is in the form of grants from the Commonwealth Foundation under the headings Program Grants and Core Grants, donations and grants from universities and other sources, conference registrations and interest income. All revenue is recognized on receipt. Foreign Currency Transactions All amounts are stated in EURO. _____________________________ � Dublin Core The Dublin Core metadata element set is common to all Omeka records, including items, files, and collections. For more information see, http://dublincore.org/documents/dces/. Title A name given to the resource Final Financial Statements 2009 (Belgium) Subject The topic of the resource Administration Creator An entity primarily responsible for making the resource ACLALS (Belgium) Date A point or period of time associated with an event in the lifecycle of the resource 2009