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Finance Department Review. 5 Years Financial indicators 2011 Financials Challenges in 2011 2012 numbers Highlights.

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Presentation on theme: "Finance Department Review. 5 Years Financial indicators 2011 Financials Challenges in 2011 2012 numbers Highlights."— Presentation transcript:

1 Finance Department Review

2 5 Years Financial indicators 2011 Financials Challenges in 2011 2012 numbers Highlights

3 5 Years Highlights 20112010200920082007 US$ Fee Income 2,456,5182,258,8671,754,9021,365,8911,346,027 Grants & Sponsorships 56,654129,388151,98963,971111,516 Total Operating Expenses 2,359,2622,321,4081,767,4221,311,7071,042,925 Finance (Income) and Other Costs 116,94927,500125,312-174,271140,757 Surplus/(Deficit) for the year 36,96139,34814,157292,426273,861 Total Reserves at end of year 1,464,2511,427,2901,387,9421,373,3451,254,802 Closing Cash at bank 1,091,6691,345,6361,270,6361,343,2291,254,878 Reinvestment in infrastructure 48,958346,20329,82734,23031,195

4 Actual vsActual '11ACTUALBUDGETACTUAL Budget '11Actual '102011 2010 Fee Income -9.8%8.8% 2,456,5182,723,2492,258,867 Grants & Sponsorships -43.3%-56.2% 56,654100,000129,388 Administration Costs -12.1%13.0% 1,661,2581,890,6411,470,135 Distribution Costs -25.9%-18.0% 698,004941,973851,272 Total Operating Expenses -16.7%1.6% 2,359,2622,832,6142,321,408 Finance (Income) and Other Costs 116,94919,23327,500 Surplus/(Deficit) for the year 36,9619,86839,348 Total Reserves at end of year 1.9%2.6% 1,464,2511,437,1581,427,290 2011 Financial Highlights

5 Actual vsActual '11ACTUALBUDGETACTUAL Budget '11Actual '102011 2010 HR Costs -20.9%22.2% 1,023,055 1,294,069837,465 Office Expenses 16.3%64.2% 257,581 221,520156,870 Bank Charges -27.6%-23.7% 19,571 27,04425,647 Legal & Consultancy Fees 12.5%51.6% 147,380 131,00097,219 Meeting Expenses -17.7%5.0% 198,558 241,400189,073 Travel Expenses -14.2%-24.0% 385,903 450,000507,619 Contributions & Sponsorships 18.5%27.8% 68,524 57,83353,624 2011 Major Costs movements

6 Our major challenge for 2011 has been fees collections. Defaults are on the increase. 2011 Main Challenge…

7 2012 Highlights Operating Costs Budgets Financials January 2012 to April 2012 Prospects for 2012

8 BUDGETACTUAL Financial Performance Indicators 201220112010 US$ Fee Income 3,017,128 2,456,5182,258,867 Grants & Sponsorships 135,000 56,654129,388 Administration Costs 2,307,394 1,661,2581,470,135 Distribution Costs 840,343 698,004851,273 Total Operating Expenses 3,147,737 2,359,2622,321,408 Finance (Income) and Other Costs -31,000 116,94927,500 Surplus/(Deficit) for the year 35,391 36,96139,348 Total Reserves at end of year 1,499,642 1,464,2511,427,290 2012 Operating Costs Budget

9 Major Costs movements BUDGET ACTUAL 2012 20112010 HR Costs 76.9% 76.9% 1,809,766 1,023,055837,465 Office Expenses 20.1% 20.1% 205,796 257,581156,870 Bank Charges 15.0% 15.0% 22,500 19,57125,647 Legal & Consultancy Fees 55.8% 55.8% 65,200 147,38097,219 Meeting Expenses 7.9% 7.9% 182,900 198,558189,073 Travel Expenses 5.0% 5.0% 366,667 385,903507,619 Contributions & Sponsorships 61.7% 61.7% 110,833 68,52453,624

10 ACTUALBUDGET % Annual Budget Financial Performance Indicators Jan 12 to Apr 12 2012 Fee Income2,336,2113,017,12877.4% Administration Costs559,0132,307,39424.2% Distribution Costs141,640840,34317.5% Total Operating Expenses700,6533,147,73722.2% HR Costs391,6021,809,76621.6% Bank Charges9,21122,50040.9% Legal & Consultancy20,88165,20032.0% Meeting Expenses24,240182,90013.2% Travel Expenses - Board4,20160,0007.0% Travel Expenses - Management93,582306,66730.5% 2012 Financials todate

11 Prospects for 2012 Based on the financial indicators thus far, together with a sustained cost control discipline, there are good signs that the target set for 2012 shall be met and will be achieved within budgets. At this point, the main focus shall be to achieve a higher % of fees collections and continue with our effective costs control initiatives

12 Thank you for your attention


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