ROTARY DISTRICT 9211...Rotary District 9211 Report and Financial Statements For the year ended 30...

ROTARY DISTRICT 9211

REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2017

Rotary District 9211

Report and Financial Statements

For the year ended 30 June 2017

CONTENTS PAGE

Rotary District 9211 information 1

Rotary District 9211 Finance Committee's report 2

Statements of Rotary District 9211 Finance Committee's responsibility 3

Report of the independent auditor 4-5

Financial statements:

-Statement of Income and Expenditure 6

-Statement of financial position 7

- Statement of net assets 8

- Statement of cash flows 9

Notes to the financial statements 10-13

The following pages do not form an integral part of these financial statements

List of clubs Appendix 1




DISTRICT INFORMATION

District Governor Ken Mugisha Chairman

District Governor Elect Sharmila Bhatt Member

District Governor Nominee F. Xavier Sentamu Member

Past District Governor Stephen Mwanje Member

Past District Governor Emmanuel Katongole Member

Past District Governor Harish Bhatt Member

Past District Governor Robert Waggwa Nsibirwa Member

Past District Governor Jayesh Asher Member

Past District Treasurer Giuseppe Rosiello Member

District Treasurer Peter Kimbowa Member

District Treasurer Elect Samwel Dyelu Member

Contact Address: ROTARY DISTRICT 9211

P.O. Box 11193

Kampala,Uganda

Tel:0414374075

Mail:[email protected]

Bankers: Centenary Rural Development Bank Ltd

Plot 44-46 Kampala Road

P.O.Box 1892

Kampala,Uganda

Exim Bank (Tanzania) Ltd

Exim Tower

Dar es Salaam, Tanzania.

Bank M Tanzania Limited

Industrial Finance Branch

Plot No. 27/28, Nyerere Road,

P.O.Box 96


Auditors: RSM Eastern Africa

Certified Public Accountants

16th Floor, Golden Jubilee Towers

P.O.Box 79586


District Finance

Committee:

1

May 2



Opinion

Basis for opinion

Other information

District Finance Committee's responsibility for the financial statements

Auditor's responsibilities for the audit of the financial statements

In preparing the special purpose financial statements, the district finance committee is responsible for assessing the district's

ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern

basis of accounting unless the district is intended to be liquidated or cease operations or there is no realistic alternative but to

do so.

Our objectives are to obtain reasonable assurance about whether the special purpose financial statements as a whole are free

from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion.

Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with

accounting policies set out in Note 1 will always detect a material misstatement when it exists. Misstatements can arise from

fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence

the economic decisions of users taken on the basis of these financial statements.

We have audited the accompanying special purpose financial statements of Rotary District 9211, as set out on pages 6 to 13

which comprise of the statement of financial position as at 30 June 2017, statement of income and expenditure, changes in net

assets and cash flows for the year then ended, and a summary of significant accounting policies and other explanatory notes.

The special purpose financial statements have been prepared by management in accordance with the accounting policies as set

out in Note 1 to the special purpose financial statements.

We conducted our audit in accordance with International Standards on Auditing (ISAs). Our responsibilities under those

standards are further described in the Auditor's Responsibilities for the Audit of the Financial Statements section of our

report. We are independent of the district in accordance with the International Ethics Standards Board for Accountants' Code

of Ethics for Professional Accountants (IESBA Code) together with the ethical requirements that are relevant to our audit of

the financial statements in Tanzania, and we have fulfilled our ethical responsibilities in accordance with these requirements

and the IESBA Code. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for

our opinion.

The district finance committee is responsible for the other information. Other information comprises the information included

in the Annual Report, but does not include the special purpose financial statements and our auditor's report thereon.

Report of the independent auditor to the members of Rotary District 9211, on the special purpose financial statements of


In our opinion the accompanying financial statements give a true and fair view of the financial position of the district as at 30

June 2017 and of its financial performance and cash flows for the year ended in accordance with accounting policies set out in

Note 1 to these financial statements.

Our opinion on the special purpose financial statements does not cover the other information and we do not express any form

of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so,

consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in

the audit or otherwise appears to be materially misstated. If, based on the work we have performed, we conclude that there is a

material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

The district finance committee is responsible for the preparation and fair presentation of the special purpose financial

statements that give a true and fair view in accordance with accounting policies set out in Note 1, and for such internal control

as the district finance committee determine is necessary to enable the preparation of special purpose financial statements that

are free from material misstatement, whether due to fraud or error.

4




STATEMENT OF INCOME AND EXPENDITURE

Budget

Uganda Tanzania Total Total

2017 2017 2017 2017 2016

USD USD USD USD USD

Notes

Revenue

District dues 66,000 53,780 11,640 65,420 59,540

RI Support 59,000 38,783 16,621 55,404 61,499

Governor's contribution - 879 377 1,256 25,017

125,000 93,442 28,638 122,080 146,056

Expenditure

District Governor Expenses 9 65,404 26,648 32,785 59,434 96,516

17,500 17,004 - 17,004 14,030

PETS Support 4,000 2,000 2,000 4,000 4,483

Assistant Governor Allowances 19,500 11,800 6,100 17,900 12,560

District website design 5,000 - 4,876 4,876 3,945

2,000 - 826 826 1,914

Rotary Youth Leadership Awards 3,000 1,500 - 1,500 1,500

Audit fees 1,000 - 1,000 1,000 2,770

TRF Stewardship 2,000 260 260 57

Sundry expenses 1,000 4,265 - 4,265 4,149

Bad debts - - 420 420 1,173

Bank charges - 102 206 308 986

Vijana Poa travel expense - 1,192 - 1,192 -

Foreign exchange loss - 22 22 44 -

TRF Kilema Kati refund - - 8,500

Country training expenses - - 1,906

Stationery - - 950

120,404 64,793 48,235 113,029 155,439

Surplus/ (deficit) for the year 4,596 28,648 (19,597) 9,051 (9,383)

District Team Training Seminar

(DTTS)

District Rotaract Rep administrative

support expenses

Actual

6




STATEMENT OF CHANGES IN NET ASSETS

Accumulated

fund Designated fund Total

USD USD USD

NOTES

Year ended 30 June 2017

At start of year 104,444 12,371 116,815

Surplus for the year 9,051 - 9,051

Prior period expenses 7 (8,209) - (8,209)

At end of year 105,286 12,371 117,657

Year ended 30 June 2016

At start of year 113,827 12,371 126,198

Deficit for the year (9,383) - (9,383)

At end of year 104,444 12,371 116,815

8




STATEMENT OF CASH FLOWS

2017 2016

USD USD

Cashflow from operating activities

Surplus/ (deficit) 9,051 (9,383)

Adjustment for:

Prior period expenses (note 7) (8,209) -

Changes in working capital

Increase in receivables (6,748) (607)

Increase / (decrease) in payables 17,423 (8,433)

Net cash generated from / (used in) operating activities 11,517 (18,423)

Movement in cash and cash equivalents

At start of the year 112,324 130,747

Increase/ (decrease) 11,517 (18,423)

At end of the year 123,841 112,324

9




NOTES

1 Accounting Policies

The principal accounting policies adopted in the preparations of these financial statements are set out below:-

(a) Basis of preparation

(b) Presentation currency

The financial statements are presented in United States Dollars which is the presentation currency of the District.

(c) Revenue recognition

(d) Cash and cash equivalents

Cash and cash equivalents comprise cash in hand and demand deposits with banks.

(e) Translation of foreign currencies

(f) Accounts Payable

(g) Contributed services

(h) Comparatives

2 Designated funds

These were designated funds for a project however they have not been used till date.

Where necessary, comparative figures have been adjusted to confirm with changes in presentation in the current year.

The Rotary District 9211 's financial statements are prepared on accrual basis under the historical cost convention and in

compliance with Generally Accepted Accounting Principles and the Rotary District 9211 Constitution and By-laws.

Except for Rotary District 9211 dues which are recognised on accruals basis, all other revenues are recognised on a cash

basis.

Transactions in functional currencies during the year are converted into United States Dollar at rates ruling at the

transactions' dates. Assets and liabilities at the reporting date which are expressed in functional currencies are translated

into United States Dollars at rates ruling at the year end. The resulting differences from conversion and translation are

dealt with in the statement of income and expenditure in the year in which they arise.

Accounts payable are obligations on the basis of normal credit terms and do not bear interest. Un reconciled receipts are

treated as deferred until they are verified against presented documents as proof that they were deposited by the clubs.

Rotarians contribute significant amount of their time each year based on their vocations. Because of the difficulty in

determining their fair value, contributed services are not recognized in the financial statements.

10




NOTES (CONTINUED)

2017 2016

USD USD

3 Inventories

Rotary district 9211 Pins 2,084 2,084

4 Accounts receivables

Uganda:

Bugiri 300 -

Bugolobi 760 -

Buloba 360 -

Gaba - 2

Gulu 20 -

Kabarole 225 225

Kalongo - 88

Kajjansi 20 -

Kampala 10 -

Kampala-Impala 300 -

Kampala City Makerere 320 320

Kampala-Kawempe 210 -

Kampala-Kibuli 320 -

Kampala-Nsambya 380 -

Kampala-South * (10) -

Kampala-Wandegeya 1,080 520

Kampala West - 10

Kayunga 520 380

Kigumba 600 -

Kihihi 80 -

Kumi 194 194

Kyambogo-Kampala 300 320

Kyenjojo 440 220

Lukaya 140 -

Masindi 430 250

Mbale * (153) 247

Mityana 480 -

Mubende 527 367

Muyenge * (20) -

Namugongo 160 -

Rukungiri Central * (408) 572

Tororo 10 100

Wobulenzi 240 400

Provision for bad debts - (1,173)

7,835 3,042

* These are in credit as the clubs paid their contribution in advance.

11




NOTES (CONTINUED)

2017 2016

USD USD

4 Accounts receivables(continued)

Tanzania

Arusha Mount Meru 290 290

Babati 280 280

Dar es salaam -Mzizima 260 -

Iringa 70 55

Karagwe 200 200

Machame 140 -

Marangu 240 -

Mbeya - 160

Mkuu-Rombo 20 -

Mlimani 320 -

Monduli - 260

Morogoro central 460 280

Moshi mamba 38 38

Moshi Mwanga 180 -

Moshi Mwanga 240 240

Mwanza 400 220

Mwika 240 -

Nansio- Ukerewe Island 360 200

Same 280 -

Sumbawanga 200 200

USA River 160 -

4,378 2,423

Total Receivables 12,213 5,465

5 Bank Accounts

Centenary Bank (US $)-(Uganda) 102,747 92,846

Bank M Tanzania Limited (TZS) 786 1,143

Bank M Tanzania Limited (USD) 18,419 16,804

Exim Bank Ltd (TZs)-Tanzania 1,043 1,074

Exim Bank Ltd (USD Account)-Tanzania 846 457

123,841 112,324

6 Accumulated fund

Balance brought forward - 104,444 113,827

Surplus/(deficit) for the year 9,051 (9,383)

Prior period expenses (Note 7) (8,209)

105,286 104,444

12




NOTES (CONTINUED)

7 Prior period expenses

The accounts for 2015/2016 had an error in the closing bank balance of one of the accounts as below:

Bank M Tanzania USD 0250029115 USD

Reported closing balance on 30/06/2016 16,804

Actual closing balance on 30/06/2016 8,595

Difference 8,209

The difference related to expenses which were not accounted for in the financial year 2015/2016.

2017 2016

USD USD

8 Accounts Payable

Rotary Tanzania 14,155 -

Unknown receipts 1,709 1,217

DG Jayesh Asher 2,776 -

Audit fee payable 1,841 1,841

20,481 3,058

9 District Governor Expenses

2017 2017 2017

USD USD USD

Uganda Tanzania Total

Airfare 6,304 22,952 29,256

Club Visit Costs 20,344 9,834 30,1780

Total expenditure 26,648 32,786 59,434

Sourced from:

RI Support budget for the District Governor 55,404

District Budget 2,776

District Governor's contribution 1,254

Total Contribution 59,434

10 Contingent liabilities

There were no material contingent liabilities as at 30 June 2017.

11 Commitments

There were no capital commitments as at 30 June 2017.

12 Events After Reporting Date

There were no events after reporting date that require disclosure in the financial statements.

13


Supplementary information


APPENDIX : LIST OF CLUBS

UGANDA CLUBS

CLUBNUMBER OF

MEMBERS

AMOUNT PER

MEMBER USDTOTAL USD

1 Acacia-Sunset-Kampala 34 20 680

2 Arua 19 20 380

3 Bugiri 15 20 300

4 Bugolobi 38 20 760

5 Bugolobi Morningtide Kampala (87509) 30 20 600

6 Bukoto 35 20 700

7 Bushenyi 25 20 500

8 Bwebajja 23 20 460

9 Bweyogerere-Namboole 60 20 1,200

10 Entebbe 33 20 660

11 Gaba 24 20 480

12 Gulu 18 20 360

13 Hoima-Kitara 15 20 300

14 Ibanda 17 20 340

15 Iganga 18 20 360

16 Jinja 57 20 1,140

17 Kabale 21 20 420

18 Kabarole 25 20 500

19 Kabwohe 12 20 240

20 Kajjansi 38 20 760

21 Kalisizo 19 20 380

22 Kampala 75 20 1,500

23 Kampala-Central 49 20 980

24 Kampala City-Makerere 16 20 320

25 Kampala Day-Break 18 20 360

26 Kampala-East 52 20 1,040

27 Kampala-Impala 15 20 300

28 Kampala-Kawempe 28 20 560

29 Kampala-Kibuli 16 20 320

30 Kampala Metropolitan 22 20 440

31 Kampala Munyonyo 23 20 460

32 Kampala Muyenga Breeze 35 20 700

33 Kampala Naguru 27 20 540

34 Kampala Nalya 44 20 880

35 Kampala-North 86 20 1,720

36 Kampala-Nsambya 49 20 980

37 Kampala South 49 20 980

38 Kampala-Ssese Islands 75 20 1,500

39 Kampala-Wandegeya 28 20 560

40 Kampala-West 37 20 740 41 Kasangati 33 20 660

42 Kasese 28 20 560

43 Kayunga 7 20 140

44 Kigumba 30 20 600

45 Kihihi 8 20 160

Appendix I




APPENDIX : LIST OF CLUBS (continued)

UGANDA CLUBS (continued)

CLUBNUMBER OF

MEMBERS

AMOUNT PER

MEMBER USD TOTAL USD

46 Kisugu-Victoria View, Kampala (87467) 33 20 660

47 Kitgum 16 20 320

48 Kiwatule 58 20 1,160

49 Kololo-Kampala 76 20 1,520

50 Kumi 13 20 260

51 Kyambogo-Kampala 26 20 520

52 Kyengera 53 20 1,060

53 Kyenjojo 11 20 220

54 Kyotera 25 20 500

55 Lira 15 20 300

56 Lubowa 37 20 740

57 Lukaya 12 20 240

58 Makindye 38 20 760

59 Makindye West-Kampala 29 20 580

60 Masaka 33 20 660

61 Masindi 9 20 180

62 Mbale 21 20 420

63 Mbarara 44 20 880

64 Mbarara East 15 20 300

65 Mengo 51 20 1,020

66 Mityana 24 20 480

67 Mubende 8 20 160

68 Mukono 33 20 660

69 Mukono Central 11 20 220

70 Muyenga 115 20 2,300

71 Namugongo 41 20 820

72 Nansana 45 20 900

73 Nateete-Kampala 32 20 640

74 Nkumba 30 20 600

75 Nsangi 24 20 480

76 Ntinda 30 20 600

77 Ntungamo 11 20 220

78 Port-Bell 28 20 560

79 Rubaga 28 20 560

80 Rukungiri Central 4 20 80

81 Rwampara 13 20 260

82 Seeta 24 20 480

83 Soroti Central 28 20 560

84 Source of the Nile 26 20 520

85 Sunrise-Kampala 41 20 820

86 Tororo 11 20 220

87 Wobulenzi 12 20 240

88 Buloba 29 20 580

TOTAL 2689 1,760 53,780

Appendix I




APPENDIX : LIST OF CLUBS (continued)

TANZANIA CLUBS

CLUBNUMBER OF

MEMBERS

AMOUNT PER

MEMBER USDTOTAL USD

1 Arusha Golden Sunrise 8 20 160

2 Arusha Mount Meru 27 20 540

3 Babati 11 20 220

4 Dar-es-Salaam-Mzizima 13 20 260

5 Machame 7 20 140

6 Mkuu-Rombo 11 20 220

7 Mlimani 16 20 320

8 Morogoro central 9 20 180

9 Moshi Mamba 15 20 300

10 Mwanza 9 20 180

11 Mwika 12 20 240

12 Nansio-Ukerewe Island 8 20 160

13 Same 14 20 280

14 USA River 8 20 160

15 Marangu Kibo 20 20 400

16 Moshi Mwanga 9 20 180

17 Iringa 12 20 240

18 Morogoro North 10 20 200

19 Dar-es-Salaam North 32 20 640

20 Arusha 17 20 340

21 Bahari-Dar-es-Salaam 43 20 860

22 Bukoba 20 20 400

23 Dar-es-Salaam 31 20 620

24 Dar-es-Salaam Mikocheni 16 20 320

25 Dar-es-Salaam Oyster Bay 60 20 1200

26 Karagwe 10 20 200

27 Marangu 12 20 240

28 Moshi 21 20 420

29 Mwalimu Nyerere Dodoma 15 20 300

30 Songea 13 20 260

31 Sumbawanga 10 20 200

32 Tanga 23 20 460

33 Zanzibar Stonetown 20 20 400

34 Igoma Mwanza 12 20 240

35 Musoma 8 20 160

TOTAL 582 700 11,640

Appendix I

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