Summer Camp Funds Collection Gokhale Palghar 31.08..08 3. Shri Chandrashekhar Joshi, Dadar 4. Sau....

formal education, would be able to concentrate in future. Smt. Naik also guided the girls what precautions

they are required to take when they attain puberty.

City India Group guided the senior girls with the help of Laptop how to administer first aid. The group also

gave demonstration to the younger batch of girls on painting and hands-crafts.

On the occasion of the death anniversary of the Late Lokamanya Tilak, Smt. Krantigeeta Mahabal, paid a

visit on 01-08-2008 and narrated the life of the Late Lokamanya.

All the girls in our Balikashram were taken on 01-02-2009 a trip to Rainy Resort. This trip was arranged by

Cognizant Technology Company. The girls enjoyed the trip.

On the 8th March 2009 i.e. International Women's Day, Miss Vijaya Desai and her colleagues gave a

scintillating performance of Indian music.

On the 10th March 2009 i.e. the death anniversary of Late Savitribai Phule the pioneer of women's

education in Maharashtra, Mrs. Jyoti Gadgil was invited to preside over a function when she narratted the

difficulties faced by Smt. Phule in spending women's education.

Summer Camp

During Summer Vacation, we arrange a camp for our girls, where, apart from formal education, they are

being taught some other trades. This camp also gives them a platform, where they would be able to

demonstrate their skill in the year under report, the camp was arranged between 16th April 2008 to 30th

April 2008. The camp was inaugurated by Mrs. Sudha Talashilkar, educational inspectress of 'M' ward. A

number of prominent personalities from different walks of life visited our project, had interaction with our

girls and narrated their struggle to achieve success in life Included therein were (i) Dr. Tamhane, a well-

known Psychiatrist and Smt. Mangala Kaisare of World Religious Conference. The camp was a grand

success.

Funds Collection

I am happy to report that our Sanpada Project continuous to be financially self-supporting in the year under

report, because of donations received from our numerous donors. I however beg to be excused, because

of space constraint, I am unable to list them all in the report. Despite the same, I feel, it's my duty to make a

specific mention of a few corporates and also a few individuals who regularly donate to our Sanpada

Project. Included therein are NELCO Ltd, Mumbai. NELCO Dasara Utsav Samiti, Mahape, Navi Mumbai,

Shri. S.R. Nayampally- Koparkhairane, Shri. Vishwas Avalaskar- Vikhroli, Shri. Desai- Santacruz, Shri.

Kedar Datar- Mulund, Smt. Namita Joshi- Dadar, Shri. Mohan Raisinghani- Bandra, Shri. Vinayak Joshi-

Thane, Shri. Shaila Thakur- Andheri and Shri. Nemchand M. Shah- Mulund.

Our Trust is fortunate to receive from New Mumbai Municipal Corporation an educational grant of Rs.

67,200/- for 7 girls under our care. On behalf of 'Vatsalya', I thank all of them for their generous gesture.

Our girls participated in a gathering of school children arranged on the 10th & 11th Jan. 2009 by an NGO by

name "Our Children" where they secured the 1st and the 2nd prize in two projects.

Vatsalya Trust, Mumbai - Annual Report 2008-09 Page 18

A religious programme- meleveejeeCe Hetpee was arranged on foundation day of Sanpada Project,

when apart from our Trustees and office bearers, a large number of local donors were present. The prize

distribution programme was also arranged on that day when Smt. Sanjeevani Raykar, Trustee distributed

prizes.

Obituary

I regret to inform you of the sad demise of Smt. Kala Gadgil, who was a member of our Senior Citizen's

Home. I pray Almighty God that her soul rests in peace.

During the year under report a few of Donors had expired, Names of donors reported

to us are given below,

Adoptive Parents.

1. Shri. Nitin Joshi Goregaon 13.07.08

2. Sau. Neelam Gokhale Palghar 31.08..08

3. Shri Chandrashekhar Joshi, Dadar

4. Sau. Smita Tambe 04.01.09

Donors

Smt. Shailaja Hiwalkar, Mulund 24.10.07

Smt. Kunda M. Mondkar 19.12.07

Shri. Narayan Anant Vinze, Dombivali 02.03.08

Shri. Pradyumn Upadheye ,Thane 20.05.08

Shri. B.K. Shivrao, Dadar 16.06.08

Shri. Shashikant Joglekar, Girgaon 17.06.08

Shri. Parshuram K. Patwardhan, Kankavali 29.08.08

Shri. S.V. Abhyankar, Nagothane 03.10.08

Shri. Pandurang Shenoy, Mulund 20.10.08

Shri. Bhalchadra Halbe,Thane 09.11.08

Shri. Gajanan V. Joshi,Thane 10.11.08

Others

Shri. Trimbak M. Gokhale, Dadar expired on 16.07.08 Late Gokhale retired from Mumbai municipal

Corporation as an officer. During his tenure at MMC he was largely Instrumental in raising funds since

formation he was associated with Vatsalya Trust Mumbai.

Shri. Vamanrao Prabhudesai founder of Pitambari Industries Thane expired on 17.08.08 He was closely

associated with Vatsalya Trust .Time and again he offered fabulous donation to the Trust and was also

instrumental for fund,collection/donation, He was of much help in accquiring plot at Sanpada for Trust

My colleagues in ' Vatsalya Trust' join me in paying homage to the departed soul who were of immense

help to our Trust. We pray for their eternal peace.


As a measure of economy the Balance Sheet and the Income & Expenditure Accounts for the year ended on 31/03/2009 have been presented in an abridged form in this report. Those who are desirous of having

complete set of accounts may please get in touch with us on phone.

Our Alibag Project

thVatsalya Trust- Mumbai has opened a new branch at Alibag on 7 Jan. 2007, in a small place on rental

basis. I am proud to inform you that now, with the help of prominent advocate Shri Nana Limaye, 'Vatsalya'

has now purchased our own building of approx. 2000sq, fleet behind Mayur Bakery. We have made

necessary changes in the building as per our requirements to start the orphanage. We have shifted our

thorphanage in this building from 5 of July 2008, and have given shelter to 5 infants. This place is very

spacious and sufficient for the functioning of office, orphanage and playground for the children.

During the year 2007 to 2009 Alibag branch has made sizeable progress. In the year 2008-2009, 11

children have been given shelter and 5 of them have been given in adoption in well-placed families. We

have a very good response in Raigad District. Dr. Rajiv Dhamankar and Dr. Arvind Takle frequently visit our

orphanage and give necessary medical treatment to the orphan children. We are very much thankful to

both the doctors for their valuable medical guidance/ support.

thOn 7 Jan.2009 second Annual day was performed with Satyanaran Puja. Almost 400 to 500 well

wishers from Alibag city visited the institution and have given sizeable donations

During the year many prominent personalities paid visit to our Trust. They are

1. Ex. M.P. Shri Ramsheth Thakur 2. Shri Madhukar Thakur,MLA-Alibag, 3. Shri S.G. Shevade, Well

known spiritual personality, they have expressed utmost satisfaction about the working of

orphanage.

2. Smt Neela Tulpule, Advocate and chairperson, Child Welfare Committee, Alibag.Dist.Raigad, and

Shri Burud, District. Woman and Child Welfare Officer of Alibag, both are very helpful and have

given full co-operation to run our trust,

In the last, Alibag branch has shown good progress and is likely to be self sufficient on financial aspect

to run the Trust activities. All our activists are making tremendous efforts, to run the branch successfully.


Annexure 'A'- GENERAL DONATION

Rs. 45000/-

Shri.Pitale Parag- Andheri

Rs. 42,000/-

Shri. Jani Jayesh- Dahisar

Rs. 40,000/- each

Shri.Churi Suhas- Dahisar

Shri.Kulkarni Tushar- Kandivali

Rs. 34000/-

Shri. Lambe Laxmikant-Airoli

Rs. 33000/-

Smt.Godbole Dipti B- Pune

Rs. 32,317/-

Shri. Narkar Swaraj- Bandra

Rs.30200/-

Shri. Rajiv Shekhar-Mulund

Rs. 30,000/- each

Karnik Nursing Home- Dadar

Rs. 27,000/=

Swaraj Subhash Menkar , Bandra

Rs. 25,001/- and Rs. 25,000/-each

Dr. Ginde P.V. - Wadala, Indian National Press- Nariman Point, S.B.I. Ladies Club- Belapur Branch, Smt.

Joshi Nandini- Pune, Shri. Joshi Prabhakar- Mahim, Smt. Kulkarni Chhaya- USA , Shri. Pandit A.V.-

Bhandup, Smt. Patil Sharmila- Mahim, Shri. Thatte Sudhakar- Dadar

Rs. 24,000/-

Shri. Nirantar R.B. - Kandivli

Rs. 21,195/-

Shri. Chavan Sanjay- Mulund

Rs. 21,000/-

Shri. Pandey Vijay - Ahmedabad

Rs. 20,001/-

Miss. Raorane Lekha- Mulund


Rs. 20,000/-each

Shri. Thakur Ramsheth- Panvel, Shri. Sohoni S.P.- Vile Parle, Smt. Ghaisas Ashwini- Pune, Smt. Palanivel

Madhuri- Thane, Shri. Pethe Gopal- Pune, Shri. Sohoni Shrikrishna- Borivli,K.T. Exports (India)-

Wadala,Dr.Yadav Pankaj- Kalyan, Shri. Joshi Mukul- Thane

Rs. 18,000/-each

Smt. Prabhu A.- Mulund, Smt. Dandekar Vaishali- Thane, Shri. Patel Dhaval & Mrs. Swapna - Mahim, Shri.

Alugulapati Ravi- Thane, Yashwant Gurukul Trust- Malad,

Rs. 16,675/-

Parle Tilak Vidyalaya English Primary School- Vile Parle

Rs. 16,000/-each

Shri. Mukadam V.K.- Borivli

Rs. 15,500/- & 15,200/-

Parle Tilak Vidyalaya- Vile Parle

Rs. 15,000/-each

Smt. Bhide Archana- Vile Parle, Shri. Sathe Siddhanath- Sangli, Smt. Jog S.R.- Mulund, Shree Ganesh

Mandir - Shivshakti (Kurla), Smt. Dhakras Anjali V.- Dadar, Smt. Parvatibai Abhyankar Trust- Mahim, Smt.

C. Vijayalaxmi- Kandivli, Prof. Hollmer Horst- Vile Parle, Shri. Pawar Digambar- Mulund, Shri. Date A.V.-

Powai, Smt. Sukhamandevi Kishanchand Khanna Trust- Juhu, Smt. Mane Kranti- Thane


Rs. 36,000/- each

Smt. Patil Sharmila and Meena H., Mahim

Mr. Raisinghani Mohan, Bandra

Mr. Wadekar Sachin, Mulund

Mr. Shah Nemchand M., Mulund

Rs. 25,552/-

Mr. Tataria Mohan, Mulund

Rs. 25,000/- each

Mr. Lele Sanjeev, Santacruz

Reform Image Group of Patni Computers, Thane

Rs. 24,000/-each

Mr. Agarwal Omprakash, Vashi

Mr.l Nayampally S.R., Koparkhairane.

Rs.23,500/-

Mr. Panwelkar Virprakash , Vashi

Rs. 23,000/-

Smt. Ramakrishnan Smruti, Mulund

Rs. 20,000/-each

Smt. Datar Asmita, Borivli

Mr. Datar Kedar, Mulund

Dr.(Smt) Kamble Sika;, Goregaon

Mr. Velankar Avdhoot, Borivli

Rs. 1,8000/- each

M/s Aditya Polymers and Chemicals Pvt. Ltd.,

Vile Parle

Mr. Avlaskar Vishwas, Vikhroli

Mr. Desai , Vashi

Smt. Gargava Chetna, Powai

Mr. Hadikyal Raja, Powai

Mr. Javeri Ajit, Borivli

Smt. Joshi Namita, Dadar

Smt. Joshi Sunita, Thane

Mr. Joshi Vinayak, Thane

Mr, Mungekar Vikas, U S A

Adv. Patil Akshay, Fort

Shri. Tanhane Tushar, Dadar

Smt. Thakur Shaila, Andheri

Shri. Vaze Amit, Mulund

Rs. 15,000/-

Shri. Sathe Udayan, Kalwa

Annexure 'B' - FINANCIAL ADOPTION SCHEME


Annexure 'C'- CORPUS FUND

Rs. 40,000/-

Shri. Joglekar Paresh- Thane

Rs. 39,000/-

Shri. Iyer Swaminathan- Vikhroli

Rs. 35,000/-each

Shri. Phanse Rajendra- Nallasopara, Smt. Barve Vidya- Badlapur

Rs. 30,000/-each

Shri. Vaishampayan Vinayak & Smt. Sudha- Talegaon,Shri. Shanbhag Ganesh- Thane,

Shri. Deshmukh Jaisingh- Kalyan, Shri Pade Balchandra- Dombivali

Rs. 26,000/-

Shri. Jakhi Gurunath & Smt. Supriya- Mulund

Rs. 25,000/-each

Shri. Pate Sanjive- Dombivli, Shri. Mahajan Subodh- Thane, Shri.Tamhane Dilip-Mulund,Shri. Kulkarni

Parag- Powai, Shri. Karmarkar Aditya - Borivli, Smt. Datar Sarita- Vile Parle, Shri. Garg Navinkumar-

Goregaon, Dr. Ketkar Dinesh- Thane, Shri. Datar Diwakar- Arnala, Thatte Sudhakar- Dadar, Joshi Hemant-

Badlapur,

Rs. 24,000/-

Shri. Patil Mohan- Vasai

Rs. 22,000/-each

Shri. Lele Shrikrishna- Jogeshwari, Shri. Parmar Rajeev & Smt. Snehal- Malegaon, Shri. Desai Dakshesh-

Thane

Rs. 21,000/-each

Shri. Bhusane Sandesh- Alibag, Shri. Mathur Pravin- Belapur

Rs. 20,000/-each

Smt. Sengupta Niladri- Thane, Shri. Shirodkar Shailendra- Vile Parle, Shri. Godbole S.V.- Goregaon, Shri.

Bhadkamkar Anand- Santacruz, Smt. Deshpande Vaijayanti- Bandra, Mrs. Tambe Varuna- Prabhadevi,

Shri. Shete Abhinay- Nerul, Shri. Gosavi Vivek- Bhandup, Shri. Deorukhkar Anil- Vile Parle, Shri. Mehta

Madhukar & Smt. Kusum- Goregaon, Dr. Karnik Prabodh & Dr.(Smt.) Sunita - Dadar.

Rs. 18,000/-each

Smt. Jahagirdar Archana- Mulund, Shri. Wakankar Santosh- Kharghar

Rs. 16000/-

Shri. Chitre Ninad- Thane


Rs. 15,000/-each

Shri. Ambekar Kishor- Dombivli, Shri. Panshikar Shridhar- Bangalore, Smt. Khedkar Suhasini- Khar, Shri.

Ghurye Anant- Thane, Shri. Chaudhari Ravindra- Thane, Shri. Jawale Sharad- Navi Mumbai, Shri. Gangal

Yogesh- Goregaon,Smt. Karandikar Sumedha- Thane, Late Shri Mahadeo Vithal Samant Charitable Trust-

Bandra,Shri. Desai Surendra- Mahad, Smt. Shinde Disha- Wadala, Shri. Dani Narendra- Mahim

Annexure 'D'- DONATION FROM ABROAD

1. Symantec Giving Station- Washington - Rs. 46, 032/-

2. Shir. Ranade Prashant- U.S.A. - Rs. 43,506/-

3. Shri. Parmar Harikrishna- U.K. - Rs. 30,000/-

4. Smt. Parab Megha- Dubai - Rs. 25,000/-

5. Smt. Talati Sunita- U.S.A. - Rs. 24,001/-

6. Smt. Paranjape Sheela- U.S.A. - Rs. 22,779/-

7. Smt. Gaitonde Neha- U.K. - Rs. 22,779/-

8. Mr. Joshi Hemant & Others- U.S.A. - Rs. 21,873.90/-

9. Smt. Joglekar Sucheta Anant- U.S.A. - Rs. 20,897/-

10. Shri. Desai Subhash- U.A.E. - Rs. 20,000/-

11. Shri. Lovelekar Kailash- U.K. - Rs. 18,000/-

12. Dr. Godbole H.C.- U.K. - Rs. 17,030/-

13. Shri. Pachpande Sanjay- U.S.A. - Rs. 15,866/-

Annexure 'E'

Donation under 35 AC Benefit

1) Patcon Pneumatics, Thane Rs. 30,000/-

2) Dr.Ramnath N. Kamath, Bhandup Rs. 25,000/-

3) Shri. Chandrashekar D. Wakankar,Thane Rs.25,000/-

4) Shri. Yashwant K.Lele,Mahim Rs.25,000/-

5) Shri. Kaustubh S. Koparkar,Thane Rs.25,000/-

6) Access System, Thane Rs.20,000/-

7) Shri. Shrikrishnna S. Sohoni,Borvali Rs.20,000/-

8) Shri. Anand Bhadkamkar,Santacruz Rs.20,000/-

9) Sirmaxo Chemicals Pvt. Ltd. Vile Parle Rs.20,000/-

10) Mrs. Kranti S. Main, Thane Rs.15,000/-

11) Shri. N.J.Jail, Thane Rs.15,000/-

12) THL Metals Ltd. Andheri Rs.15,000/-


Annexure 'F'- DONATION IN KIND

1. Basell Polyoleffins Pvt. Ltd.- Mulund - Fridge, Washing Machine, Oven

2. Lions Club Of Dadar- Dadar - Music System

3. M/s Arati Industries- Mulund - Fowler Bed, Milk

4. Shri. Pandey J.K.- Byculla - Colour T.V.

5. Smt. Parul- Mulund - Clothes

6. M/s FDC Ltd.- Jogeshwari - Electral Powder

7. Reliance Ind. Ltd.- Bellard Estate - Clothes for Sanpada

8. Johnson Controls- Mulund - Water Cooler

9. Gama Soft Swami Samarth- Bandra - Assembled Computer

10. J. Datta- Dadar - Toys

11. B.G.India- Powai - Toys

12. Chandan Charitable Trust- Bhandup - Stationery for Sanpada

Shri. Gohad Manoj- Mulund, Shri. Kulkarni Suhas- Mulund, Smt. Shettye Sadhana- Chembur, Mast.

Kandalkar Soham- Vile Parle, Shri. Lakhani Manoj- Vashi, Shri. Pawar Prashant- Malad, Smt. Malhotra

Ruchira- Mum-06, Smt. Shinde Prajakta- Vikhroli, Swami Samarth Bhakti Mandal- Bhandup, Shri. Naik

Krishna- Bhandup


Auditors Report of VATSALYA TRUST, Mumbai stfor the year ended 31 March, 2009

[Annexure to Report under Section 33(2) and Rule 19 of The Bombay Public Trust Act, 1950]

stWe have audited the attached Balance Sheet of VATSALYA TRUST, Mumbai as at 31 March, 2009 and also the Income and Expenditure Account for the year ended on that date annexed thereto. These financial statements are the responsibility of the Trust management. Our responsibility is to express an opinion on these financial statements based on our audit.

We conducted our audit in accordance with auditing standards generally accepted in India. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statements presentation. We believe that our audit provides a reasonable basis for our opinion.

In addition to our report attached in the prescribed form under relevant sections and rules of the Bombay Public Trust Act and subject to notes on the above.

We report that:

(i) We have obtained all the information and explanations, which to the best of our knowledge and belief were necessary for the purpose of our audit.

(ii) In our opinion, proper books of account as required by law have been kept by the trust so far as appears from our examination of those books

(iii) The Balance Sheet and Income and Expenditure Account dealt with by this report are in agreement with the books of account;

(iv) In our opinion, the Balance Sheet and Income and Expenditure Account dealt with by this report comply with the accounting standards to the extent applicable.

(v) In our opinion and to the best of our information and according to the explanation given to us, the said account read with the remarks attached herewith give the information required by the Bombay Public Trust Act, 1950 in the manner so required and give a true and fair view in conformity with the accounting principles generally accepted in India:-

(I) in case of the Balance Sheet of the state of affairs of Trust as on March 31, 2009 and (ii) in the case of Income & Expenditure Account, surplus of the Trust for the year ended on that

date.

For CVK & ASSOCIATES, Chartered Accountants

Place: MumbaiDate: 23-09-2009

S. Y. JOSHI (PARTNER)

Sd/=

1Vatsalya Trust, Mumbai - Annual Report 2008-09 Page 27

REPORT OF AN AUDITOR RELATING TO ACCOUNTS AUDITED UNDER SUB-SECTION [ 2 ] OF SECTION 33 & 34 AND RULE 19 OF THE BOMBAY PUBLIC TRUSTS ACT.

Registration No. E - 9180Name of the Public trust VATSALYA TRUST

For the year ending March 31, 2009

(a) Whether accounts are maintained regularly and in accordance with the provisions of Act

and the rules ; Yes

(b) Whether receipts and disbursements are properly and correctly shown in the accounts; Yes

(c) Whether the cash balance and vouchers in the custody of the manager or trustee on the date of audit

were in agreement with the accounts; Yes

(d) Whether all books, deeds, accounts, vouchers or other documents or records required by the auditor

were produced before him. Yes

(e) Whether a register of movable and immovable properties is properly maintained, the changes therein

are communicated from time to time the regional office, and the defects and inaccuracies mentioned

in the previous audit report have been duly complied with; Yes

(f) Whether the Manager or trustee or any other person required by the auditor to appear before him did

so and furnished the necessary information required by him; Yes

(g) Whether any property or funds of the Trust were applied for any object or purpose other than the

object or purpose of the Trust; No

(h) The amounts of outstanding for more than one year and the amounts written off, if any; No

(i) Whether tenders were invited for repairs or construction involving expenditure exceeding Rs.5,000/- Yes

(j) Whether any money of the Public trust has been invested contrary to the provisions of Section 35; No

(k) Alienations, if any, of the immovable property contrary to the provisions of Sections 36 which have

come to the notice of the Auditor ; None

(l) All cases of irregular, illegal or improper expenditure, or failure or omission to recover monies or other

property belonging to the public trust or of loss and waste of money or other property thereof, and

waste was caused in consequence of breach of trust or is application or any other misconduct on

the part of the trustees or any other person while in the management of the trust. Not noticed

(m) Whether the budget has been filed in the form provided by rule 16A; Yes

(n) Whether the maximum and minimum number of the trustees is maintained; Yes

(o) Whether the meetings are held regularly as provided In such instrument; Yes

(p) Whether the minute books of the proceedings of the meeting is maintained; Yes

(q) Whether any of the trustees has any interest in the investment of the trust; No

(r) Whether any of the trustees is a debtor or creditor of the trust; No

(s) Whether the irregularities pointed out by the auditors in the accounts of the previous year have

been duly complied with by the trustees during the period of audit; Yes

(t) Any special matter which the auditor may think fit or necessary to bring to the notice of the

Deputy/assistant Charity Commissioner. NIL

CVK &ASSOCIATESPlace : Mumbai

Dated at : 23.9.2009__________________Chartered Accountants

Sd/=


VATSALYA TRUST, MUMBAI

ACCOUNTS FOR THE YEAR ENDED 31ST MARCH, 2009

I) ACCOUNTING POLICIES

1. IMMOVABLE PROPERTY :

a) Immovable property is shown at cost less depreciation in the balance Sheet as per details given in

schedule 'A'.

b) Depreciation is charged on WDV basis as per rates shown in Schedule A- Fixed Assets including on

fixed Assets received as donations. Depreciation on Fixed Assets is calculated on the basis of number

of days the asset is used. Rate of depreciation has been changed during the year as follows:-

ASSET: PREVIOUS YEAR CURRENT YEAR

Equipments 10% 15%

Computers 40% 60%

c) Premium on Leasehold Land purchased on 24.07.97 is written off over the period of Lease viz.60

years. Further lease registration charges incurred during the year have been capitalized and the total

amount i.e. earlier balance amount and the capitalized amount is written off over the remaining period

of 50 years

2. INVESTMENTS:

Investments are valued at cost.

3. FIXED ASSETS RECEIVED AS DONATIONS: are valued and included in the Balance Sheet -

Schedule - A at estimated cost less depreciation and donation received is shown in Balance Sheet

under Trust Fund on liabilities side.

4. RECEIPTS IN ENDOWMENT FUND: are invested in approved securities and only the interest is used

for meeting expenses on children under the care of the Trust.

5. INCOME :

a) All Donations are accounted for on cash basis.

b) Receipts on account of Diwali Bhet Coupons are accounted for on cash basis.

c) Interest on FD with banks & NSCs is shown on accrued basis.

d) Grants-in-Aid are accounted for on the basis of sanctions received.

e) 'Other Receipts' are accounted for as and when received.

f) Donation in Kind- Items other than Fixed Assets are valued and accounted on monthly basis and a

credit is taken to the Income & Expenditure A/C as donations received in kind. While valuing such

items purely perishable items such as biscuits, sweets, food items etc. are not valued; but long lasting

food items such as rice, sugar etc. are valued and added to stock.

2..


: 2 :

6. EXPENDITURE :

1. All the expenditure is accounted for on accrual basis.

2. Provision for gratuity is made on the basis of actual salary and not on actuarial valuation

II) NOTES ON ACCOUNTS

1. Land at Kanjur Marg is taken on lease basis for 30 years at nominal lease rent of Rs. 1.00 p. a.

from State Govt. possession of which is taken on 05.02.2001.

2. WIP Parle Flat -

Flat at Bank of India Staff, Pushpanjali Co-op Hsg Soc, Irani Wadi, Shahaji Raje Marg, Vileparle,

Mumbai - 400 047 was donated to the trust on the year 24.8.2000. The legal heir/relative of the

donor disputed the title of the trust. The out of court settlement was reached with the legal

heir/relative and amount paid for settlement of dispute is taken as WIP pending the actual

registration and transfer of the said property in the name of the trust.

3. Employees Provident Fund has not been registered with P.F.Commissioner. Interest @ 9.472% has

been credited to individual employees on their balances. The Fixed Deposits have now been

earmarked against the said Fund & actual interest earned thereon has been credited to the

employees.

4. Balance of Donations in kind (Fixed Assets) has been transferred to Trust Fund as all items for

which donation is received has been purchased.

5. Bombay Municipal Corporation has sent the property tax bills for the period 1/10/2003 to 31/3/2007

to the tune of Rs.15,81,629/- against which the trust has paid only Rs. 2,01,594/- In the opinion of

the Trust the General Tax, Education Tax, State Education Tax and Street Tax as charged in the

said bills are not payable. Similar exemption was given by the Bombay Municipal Corporation

during the construction period of Kanjurmarg Building should have been continued in Property Tax

Assessment thereafter. The charges payable per year as per calculation made by Trust is

approximately Rs. 51,500/-. The provision has been made at the rate of Rs. 60,000/- per year for

the said period and all payments made so far have been charged against the said provision. The

matter is expected to be resolved in F.Y 2009-10. On getting the adjusted demand from BMC the

appropriate change in the provision will be made.

6. National Saving Certificate's are held in the name of 2 trustees as the NSC's cannot be held in the

name of Trust. However affidavit has been received from the concerned trustees that those NSC's

belong to Trust.


7. Contribution to Charity Commissioner to be exempted for the period of Three Financial Years from

2006-2007 under Government Notification Law and Judiciary Department, No. BPT/

1303/253/(25)XV dt. 20th October 2005. Hence provision in this respect is not made.

8. The balances in the funds were as under:

31.03.2009 31.03.2008

Rs. Rs.

Trust Fund 3,43,72,445.02 3,42,71,455.02

Endowment Fund 4,23,97,364.84 3,84,41,522.84

Foreign Fund 4,535,933.50 4,343,071.66

35AC Fund 785,211.25 273,776.25

Computer Fund 344,041.00 401,041.00

82,434,995.61 77,730,866.77

============ =============

The balances in specific assets were as under:

31.03.2009 31.03.2008

Rs. Rs.

Investments 6,55,17,876.00 5,46,54,472.00

Immovable property 2,61,44,555.21 2,52,51,299.21

Banks 20,11,147.64 42,70,318.94

Interest receivable on investmentst 12,71,826.26 11,00,771.26

9,49,45,405.11 8,52,76,861.41

============= =============

FOR VATSALYA TRUST, MUMBAI FOR CVK & ASSOCIATES

Chartered Accountants

------------ ---------------- -----------------------

G.A.Damle S.G. Mulye S.Y. Joshi (Partner)

(Secretary) (Treasurer)

Place: Mumbai

Dated: 23.09.2009

Sd/= Sd/= Sd/=



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09

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