Financial Report
2010 FINANCIAL REPORT TO ALL DONORS
New Year raises mixed feelings: gratitude that the previous year is over,
that targets have been met, that good things have been accomplished, that
difficulties have been dealt with (whether they are those one can solve or
those one has to accept). There is optimism that there are new
possibilities, new opportunities, new beginnings. Then as the champagne
bubbles die down, in comes the realisation that the fundraising has to start
all over again…. As Director of Finance and Fundraising, my primary focus is
on the “normal” fundraising needed to keep the fees affordable and to ensure
that the school has the funds needed to run smoothly – and then it is to see
that there are sufficient funds for all the 'extras'. As always, the targets
we set for 2010 seemed rather daunting.
1. We needed to find R1,5m to fund the gap between fee income and
educational costs. We
had to find an extra R2 580 for every
child in the school, on top of the fees paid by parents and the subsidy paid
by the State.
2. We have a commitment to growing numbers of orphans and vulnerable
children and needed to find an estimated extra R700 000 to keep them at
school in 2010.
3. Building had started on our new primary school at St Michael and All
Angels in Weltevreden Park in October 2009. This major project was due for
completion in the second half of 2010. We still needed to source a further
R3 530 702 to meet the full cost of R4.2m.
So we were looking at finding R5 776 579 – or 45% of all we needed to have a
successful 2010.
INCOME 2010
Parents' contributions for the year of fees, enrolment fees, outing
contributions and consumables or school books and stationery added up to R6
066 870 while we had budgeted R6 072 091, a shortfall of R5 221, less than
half of one school fee, which is pretty remarkable.
There was also an extra R244 195 which came in the subsidy from the state.
This was because we did not have the GDE subsidy notification when the
budget was drawn up – and we also had more children than expected in the
subsidised grades 1-7. Interest received was also higher than expected as
the donations came in for the St Michael's building project at exactly the
right time to pay the builder and we were able to keep some funds in the
interest bearing Diocesan saving account all year. All this helped reduce
the amount we needed to fundraise.
Funding the gap between affordable fees and costs of education
We had some very generous donations. We are so truly grateful to these
wonderful people who have helped Vuleka in its mission to provide excellent
education for our children.
|
Applied Welding |
10,000.00 |
|
Jim Joel Edu & Tr Fund |
150,000.00 |
|
Auli Airas Lailila |
1,100.00 |
|
Joan Dixon |
600.00 |
|
Barry Beckley in memoriam |
900.00 |
|
Joe Da Silva |
13,200.00 |
|
Blast Communication |
6,000.00 |
|
John Long |
500.00 |
|
Brasch Hobby |
1,136.25 |
|
JP Morgan Race |
7,800.00 |
|
CC Imelmann (Pty) Ltd |
10,000.00 |
|
Kevin Droste |
5,000.00 |
|
Character Linens |
28,105.56 |
|
Kevin Leo-Smith |
24,000.00 |
|
Christmas in July |
22,000.00 |
|
LabChem (Pty) Ltd |
32,000.00 |
|
Colin Campbell Trust |
3,000.00 |
|
Liz Coulson |
900.00 |
|
For St Anthony thanks |
1,000.00 |
|
Makro |
5,000.00 |
|
Dave and Shirlee Rogans |
50,000.00 |
|
M Dickie-Clark |
2,000.00 |
|
Derek Muller |
1,000.00 |
|
M Sutherland |
20.00 |
|
Dr CJ Lawrence |
10,000.00 |
|
Metal Tool and Trade (Pty) Ltd |
30,000.00 |
|
Dr RG Cawthorn |
2,000.00 |
|
Murray and Joan Hofmeyr |
5,000.00 |
|
Duncan & Di Buchanan |
200.00 |
|
Neville Nightingale |
1,000.00 |
|
Garth & Norma Curry |
18,000.00 |
|
Nigel & Jill Carman |
1,500.00 |
|
GenerationNext:Tom Strickland |
43,624.80 |
|
O'Keeffe & Swartz Golf Day |
88,021.00 |
|
GenerationNext: Anon |
2,181.24 |
|
Oppenheimer Memorial Trust |
270,000.00 |
|
Gerard Sharp |
500.00 |
|
P.A.E. (Pty) Ltd |
10,000.00 |
|
Hilary Carman |
10,000.00 |
|
Pat Gillwald |
500.00 |
|
Plastpro Scientific |
16,000.00 |
|
Seamus Casserley Centriq talk |
1,000.00 |
|
PlasticLand |
4,997.90 |
|
Smith Jones & Pratt |
4,992.47 |
|
Progress Solutions |
2,000.00 |
|
St Andrew's Maryland USA |
6,897.54 |
|
Randburg Methodist Church |
2,000.00 |
|
St Andrew's Randburg |
2,500.00 |
|
Richard Honeybourne in memoriam |
450.00 |
|
St Mark's Kumon |
3,300.00 |
|
Robert and Alison Harrell |
6,290.56 |
|
The River Club |
20,730.00 |
|
Rolf Eichweber |
1,200.00 |
|
The Doris Kent Trust |
20,000.00 |
|
Rosebank Homeless |
20.00 |
|
T Amend & M Weisz |
3,675.00 |
|
|
|
|
Total |
968,662.32 |
|
Support-a-Child: Annual |
|
|
|
|
|
Di Wray |
2,500.00 |
|
Mark Bower |
2,400.00 |
|
Dr Penny Corser |
5,160.00 |
|
Richard Primos |
2,600.00 |
|
Dr Peter Linnett |
3,287.29 |
|
Sharon Jansen |
2,580.00 |
|
Garth Anderson |
2,580.00 |
|
St Martin's cake sale |
2,694.50 |
|
Lyndall Murray |
3,000.00 |
|
Wayne van Drunick |
5,000.00 |
|
Maddie Farrant |
1,200.00 |
|
|
|
|
Support-a-Child: Monthly |
|
|
|
|
|
Barnett,Kate |
7,200.00 |
|
Norman Ndaba |
900.00 |
|
Barter, Lynda |
4,620.00 |
|
Ernst & Young (matching) |
900.00 |
|
Bartlet, Jan |
1,500.00 |
|
“Owen” |
2,400.00 |
|
Blunden Carolyn |
2,450.00 |
|
Peggy's Bible group |
1,740.50 |
|
Davies, Caryn |
2,540.00 |
|
Potter, ES |
175.00 |
|
de Reuck, John |
4,890.00 |
|
Rule, Sylvia |
4,800.00 |
|
Dry Alistair & Jenny |
3,000.00 |
|
Saner, Janet |
3,870.00 |
|
Fleming, Janet |
600.00 |
|
Saner, Nicky |
1,505.00 |
|
Flint, Cyril |
1,200.00 |
|
Smith, Kirsten |
3,600.00 |
|
Carly Furness |
1,770.00 |
|
Smith, Philip |
2,400.00 |
|
Glyn,Mevagh |
1,200.00 |
|
St Augustine's |
2,600.00 |
|
Grieve, Craig |
6,000.00 |
|
St Martin's in the Veld |
770.00 |
|
Kinmont, Alec |
960.00 |
|
Steyn, Liz |
960.00 |
|
Lee, Roger and Romy |
900.00 |
|
Tatalias, Nick and Jo |
1,200.00 |
|
Levick, Percy |
750.00 |
|
Thompson, Jean |
300.00 |
|
Mabuye, Dr NB |
550.00 |
|
Trathen Angela |
1,200.00 |
|
Malatsi, Dr SE |
960.00 |
|
Trent, Lawrence |
900.00 |
|
Meneses,GE |
1,560.00 |
|
Weaver family |
4,800.00 |
|
|
|
|
Total |
110,672.29 |
|
Vuleka Gift Cards |
|
|
|
|
|
Mr Atkinson for the Backwells |
500.00 |
|
St Martin's parishioners |
2,850.00 |
|
Miller’s 25th wedding anniversary |
4,075.00 |
|
Wendy Henwood’s birthday |
1,260.00 |
|
|
|
|
Total |
8,685.00 |
|
School and Event Fundraising |
|
|
|
|
|
Sports Day |
3,259.37 |
|
Big Walk |
7,483.24 |
|
Raffle |
15,541.70 |
|
ELC Christmas Concert |
2,054.00 |
|
Money for Jam |
10,621.20 |
|
Staff Fundraising |
25,588.00 |
|
Woolworth Food Programme |
20,100.00 |
|
An evening with David Whyte, hosted |
|
|
Tea and Cake sales |
861.00 |
|
by Etana at Villa Arcadia |
68,884.00 |
|
|
|
|
Total |
154,392.51 |
39% of our general funding
came from educational trusts and foundations, whose support is so greatly
valued. A further 20% came from companies, some for BEE purposes. While this
may have started off as a 'grudge spend', I think many now take pleasure in
seeing their donations doing so much good. 1% came from a handful of
churches and schools and the remaining 40% from the wonderful phalanx of
individual supporters. Some give monthly on the Support-a-Child programme,
others donated their celebrations for our Vuleka gift card programme,
getting their friends to donate to Vuleka instead of giving gifts. Others
like Ash Pagden ran a golf day at the River Club and O'Keefe and Swartz ran
one at Rand Park. Dave and Shirlee Rogans have used their business skills to
raise funds each month for Vuleka. Jos Whitfield organised her annual
Christmas in July dinner and auction. A bible study group gave R10 each a
month – but whether the gift was ten rand or hundreds of thousands of rand,
somehow at the end of the year, in late December, there was just enough.
Each gift was an important part of the whole.
In the end, R1 088 020 came in from donors for our general budget. This was
augmented by another R154 392 from school fundraising efforts: this is a
record amount and was 10% of what we needed to find for the year. It brought
the general fundraising up to R1 242 412 which – with the savings we made on
salaries and the extra we got from the state subsidy and in interest – was
sufficient to see us through 2010. I am so grateful to our Vuleka staff and
families for supporting these events: to the staff for organising them, to
the parents, grannies and sponsors for getting involved and to the children
who encourage them. Our thanks particularly go to David Whyte and his legion
of fans for his talk in October which raised R68 884.
Orphans and vulnerable children at Vuleka
In the end, we were able to meet the needs of the 118 (107 in 2009) orphans
and vulnerable children at Vuleka. We were fortunate to receive a good grant
from a private foundation which allowed us to enrol a further 16 orphans in
the second and third term, bringing to 134 the number of OVC's assisted. We
spent R1 151 875 and raised R1 143 469 – R8 406 more than we brought in. The
following donors gave to our orphans fund, enabling 58 orphans to stay at
school:
|
Aimee Cowley |
7,065.00 |
|
Matthew Arnott |
5,000.00 |
|
Anon "OVC" |
7,360.00 |
|
Ming Allen |
11,785.00 |
|
Clare and Alex Kalinka |
12,540.00 |
|
Nina Jacobsberg |
300.00 |
|
Di and Mike Peacock-Edwards |
12,000.00 |
|
O'Keefe and Swartz |
5,941.00 |
|
Douglas Place |
5,000.00 |
|
Paul Hurlburt |
3,061.90 |
|
Dr and Mrs D Cragg |
1,200.00 |
|
Peace Tshabalala |
570.00 |
|
Dr and Mrs G Cragg |
500.00 |
|
Taunton Vale Rotary Club |
5,471.65 |
|
Dr and Mrs C Semmelink |
10,000.00 |
|
St John's College Chapel Fund |
14,250.00 |
|
Elisabeth Miller |
3,750.00 |
|
St Martin's parishioners |
845.00 |
|
Hamba Phambile Trust |
70,620.00 |
|
St Michael and All Angels Church |
4,000.00 |
|
Jaguar Bryanston |
60,000.00 |
|
VOF new orphans programme |
|
|
Jonen Freight |
50,000.00 |
|
Private foundation |
190,418.00 |
|
Ken and Hilary Owen |
1,400.00 |
|
|
|
|
Margaret Place |
335.35 |
|
Total |
483,412.90 |
76 children from poor backgrounds were supported by the following donors who have contributed to the Chairman's Bursary Fund:
|
Bokomoso Trust |
88,437.50 |
|
Janet Saner |
12,570.00 |
|
Carni Wilkins |
500.00 |
|
M Cassel |
3,195.00 |
|
Caroline Tindall |
50,000.00 |
|
Margaret Place |
1,000.00 |
|
Contracting Services |
12,555.00 |
|
Marion Hester imo of her brother |
30,000.00 |
|
Cre8ive Personnel |
7,330.00 |
|
Mevagh Glyn |
4,800.00 |
|
David Whyte |
10,810.00 |
|
Ming Allen |
11,785.00 |
|
Dilys Mexson |
6,700.00 |
|
Mr & Mrs Nash |
11,290.00 |
|
FPM Administrators |
24,425.00 |
|
Mrs Gold |
4,790.00 |
|
Friends in mem of RG Anderson |
4,700.00 |
|
MySchool Cardholders |
16,286.92 |
|
Garth Curry |
11,290.00 |
|
Nic Husted |
12,580.00 |
|
Great Domaines |
12,640.00 |
|
Peter Bulkley |
20,394.78 |
|
Jan Bartlet |
1,500.00 |
|
Phillipa Stratton |
2,975.00 |
|
Postnet Broadacres |
4,000.00 |
|
The Oppenheimer Memorial Fund |
150,000.00 |
|
Sarah Edwards |
10,000.00 |
|
The PM Anderson Trust |
72,737.00 |
|
St George's Parktown |
8,000.00 |
|
Vuleka parents |
3,215.00 |
|
St Michael's Bryanston |
3,000.00 |
|
W Henwood |
4,400.00 |
|
STM Share Trust |
24,000.00 |
|
Witch & Wizard |
12,500.00 |
|
The Davies Foundation |
13,650.00 |
|
Total |
668,056.20 |
In addition, we organised concerts and other fundraising events to collect up R57 030 towards establishing music scholarships and a music programme at St Martin's in 2011. This will be a joint venture with St Martin's Church and the Johannesburg Youth Orchestra Company.
|
200.00 |
|
Hilary Saner Peckham in mem of Moira Saner |
30,000.00 |
|
|
Concerts at St Martin's |
11,000.00 |
|
Peggy Kernick |
300.00 |
|
Liz Coulson |
500.00 |
|
Whiting family book sale - music |
12,200.00 |
|
MV Concert and BA Horsfield |
2,830.00 |
|
Total: |
57,030.00 |
The Vuleka Development
Fund
Increased funding for equipment for St Michael's of R50 000 came in from the
RB Hagart Trust and an increase in funding for teacher training in 2011 put
R55 000 into the Development Fund. This means that we held R425 000
altogether in the Development Fund from the Oppenheimer Memorial Trust for
2011 programmes. Their support for Vuleka has been inestimable.
Vuleka St Michael and All Angels in Weltevreden Park
This building project was our major financial project for 2009/2010 and was
initiated to celebrate Vuleka's 20th birthday in 2009. By August 2010, the
building was complete, and in September we were able to move two classes in
to the new building.
|
A private donor foundation |
1,000,000.00 |
|
Peter and Angela McMurray |
3,000.00 |
|
DRA SA (Pty) Ltd |
100,000.00 |
|
Robin and Pene Mills |
15,000.00 |
|
Hilary Saner Peckham in memory of Pat and Moira Saner |
100,000.00 |
|
Stephen and Jane Anderson The Hermann Ohlthaver Trust |
10,000.00 125,000.00 |
|
Martin and Penny Lancaster |
15,000.00 |
|
The Mackenzie Foundation |
40,000.00 |
|
Mary Slack and Daughters Foundation |
358,940.00 |
|
The Nedbank Foundation The New Settler’s Foundation |
100,000.00 150,000.00 |
|
Nick and Jo Tatalias |
14,000.00 |
|
The PM Anderson Trust |
50,000.00 |
|
Peggy Kernick |
5,000.00 |
|
The RB Hagart Trust |
145,000.00 |
|
|
|
|
Total |
2,230,940.00 |
By 31 December, we had
fundraised R3 792 080 in total and spent R4 204 790, leaving a shortfall in
funding of R412 709 on the project. We had further pledges for R240 000,
most of which has come in during January and February 2011. A further
donation of R10 000 still leaves us with R162 709 still to find, plus a
further R100 000 to complete all remaining building work.
This project has been funded by 19 donors in total, many of whom gave grants
over three years. There was one church, one business, seven families and ten
trusts and foundations. Half of the R4 042 080 collected to date has come
from abroad. I am so very grateful to all of you for your generous support.
Our thanks also go to Mr Fred Spencer of Spencer and Associates, who was
both the architect and the project manager for Vuleka (and who has managed
to come in under budget!) and to all at St Michael's who put up with many
months of disruption.
EXPENSES 2010:
For the last couple of
years, the four strategic plan objectives were incorporated into the school
ethos and they underpin what we do and how we do it. Much of our spending is
on these four goals but they are, with the exception of the St Michael's
project, provided for within the general budget each year
1. Curriculum development is ongoing and forms about 40% of our
general expenses, with the emphasis on extending skills across all learning
areas. Teachers' budgets for consumables and the depreciation (which we use
for asset replacement) are a big part of our budget. We continued our
investment in the Oxford Reading Tree series and Reading Laboratories and
also spent on the national benchmarking exams for all Grades 1-7. We also
spent a lot on paper and printing, and we make extensive use of pupils'
worksheets.
2. Improving technology: We have maintained our commitment to
providing all staff and pupils with the necessary computer skills,
networks and internet facilities needed for the 21st Century.
· We outsource the maintenance of our offices and computer rooms at the
primary school venues. We started on the St Michael's computer room late
last year and completed the installation in the early part of 2011. Telkom
finally installed the ADSL line and the computer room is now fully
functional.
· The second computer room at Jellicoe Avenue was networked and computers
purchased with a 2009 grant from the RB Hagart Trust to allow one per class
member, instead of sharing.
· We ran a laptop programme for all staff members who needed one in 2010.
This enabled them to buy a new laptop, loaded with all the necessary
software programmes using a structured repayment system. All teachers can
now access the Edupac system from home or at work.
· The Bokomoso Trust and Deloittes gave a further 11 laptops to Randburg
Methodist, enabling the class there to have one each to use, instead of
sharing.
R63 160 was spent on licences for Edupac, Knowledge Network, Microsoft and
Pastel Payroll. R37 000 was spent on new installations of networks and just
over R18 000 was spent on maintenance.
3. Improving infrastructure and facilities continued at all venues.
The St Martin's senior primary school at Jellicoe Ave was repainted and
general maintenance done after a burst geyser; St Mark's needed a new
borehole pump and we also installed a meter in order to be able to measure
our electricity usage more accurately, with a view to saving costs. We were
donated a large wooden hut after the World Cup and moved this to the back of
the playground at St Martin's to help relieve the pressure of space on the
finance office. To move it cost just over R10 000, to complete full
insulation and put in extra windows was R4 220 and to link it to electricity
R7 800. And of course, our major improvement of facilities involved the
completion of the St Michael's Vuleka school. Special mention must be made
here of the two beautiful gardens at St Mark's Vuleka donated by Lizette
Jonker and SA Garden magazine.
Other generous gifts in kind from friends of Vuleka allowed us to upgrade a
lot of furniture and equipment at all Vuleka venues at no cost. SAME Water
donated brand new science equipment to St Michael's, joining Labchem in
enabling Vuleka children to get a thorough grasp of science. Incredible
Connection and Devcon gave five new computers to start off the 25 needed for
St Michael's. Gentron gave us a colour printer and a 3-in-1 printer. Much
second-hand furniture and equipment was also donated and is much
appreciated.
Not only have we improved our own infrastructure and facilities, but we have
a Vuleka volunteer committed to working in the crčches of Cosmo City. You
will see that we spent R39 734 on outreach on a budget figure of R5 000. Mrs
Kerry Hofmeyr has sourced donations of new goods from companies to the value
of R34 241which have been used to better the facilities at these crčches.
This work is ongoing.
4. Investing in our staff and pupils: I have already reported on our
orphans and vulnerable children at the school. Staff development is an
important priority: we are a learning organisation. In an era where it seems
teaching as a profession is under stress and undervalued by society at
large, as a school we need to attract, retain, train and respect our
teachers and encourage them in further studies. We have a detailed annual
staff development plan. This includes the teacher trainee and student
teachers programmes, for which we actively fundraise. Vuleka had five
trainees in 2010. In total we spent R340 080 on staff development across our
training and salaries budgets. Our staff members, particularly those
involved in teaching are critical to the success of Vuleka and the future of
our children. Our salary costs were under budget as we did not appoint a
fundraiser and we were also able to get sponsorship from a private donor for
one post.
So with general expenses of
R1 866 126 and our staff costs at R6 624 976, we came in under budget,
spending a total of R8 491 102, to leave a small surplus of R3 779 for 2010.
We were also, through tight control of all costs and great timing by our
generous donors, able to fund the completion of the St Michael's school
without having to take out a loan from the Diocese as bridging finance. (But
our thanks go to the Trustees of the Diocese of Johannesburg for being such
a great security blanket through some nerve-wracking times!).
Special Funds
The Vuleka Council voted in September to start an endowment fund for the
school by converting the pupil deposit on enrolment to a non-refundable
contribution to the fund on entry to the primary school. This is the
parents' financial contribution to the growth and sustainability of Vuleka
and at year end there was R101 270 for this in the total special funds of R4
375 497.
There was also R899 982 in the Development Fund; R231 287 for 2011 bursaries
in the Chairman's Fund (including R50 030 for music scholarships); R98 317
in the Orphan's Fund; R188 692 in the Capital Development Fund and R64 658
in the Staff Training Fund. The balance of R3 204 000 in the Rosebank Fund
will be depreciated against the Jellicoe land and buildings asset in time.
As I mentioned, the St Michael's Fund at 31 December was overspent by R412
710.
And so again, 2010 was a good year albeit a tough one: those champagne
bubbles were paid for by some heart-stopping moments! My grateful thanks go
to Jenny Dry, the Bursar and the wonderful team in the Vuleka office, to the
Council and in particular to Miles Crisp, the Treasurer for his careful
oversight and his generous help with fundraising, and above all to Lito
Nunes and his team from Deloittes, who again did our audit pro deo and in
time for the Gauteng Department of Education subsidy deadline.
A quick ten year overview
Melanie Sharland was appointed Head of Vuleka in 2001. With God's help and
under her visionary leadership, the school has gone from strength to
strength; from 5 Vuleka venues to 8; from 12 classes to 28; from 225 pupils
to 614; from 25 staff members to 60. One hundred scholarships to top
independent and state schools have been awarded to Vuleka children in that
same period. What a remarkable leader she is, if sometimes scary to work
with – for my job has been to find the resources needed for that phenomenal
growth and academic success. Looking back over those ten years, I realise to
my astonishment that we have fundraised R24m – R10m for keeping the fees
affordable, R4m for bursaries for orphans and vulnerable children and R10m
for building and equipping Vuleka primary schools. If you had told me ten
years ago that this would be what was needed, I would have run a mile.
Fortunately the God of Surprises, like Melanie Sharland, doesn't allow us
that much forewarning for somehow, it is only in deciding to do the
impossible, bit by bit, that we find it is entirely possible after all.
Thank you to every single one of you for being our partners in possibility,
for helping us grow, for giving us the means to help Vuleka build and
operate schools, for enabling us to give our Vuleka children the best
possible start in life and our country a sustainable future.
Janet Saner
March 2011
|
VULEKA SCHOOL BALANCE SHEET 31 December 2010 |
|
|
|
|
|
|
|
2010 |
|
2009 |
|
|
|
R |
|
R |
|
EQUITY AND LIABILITIES |
|
|
|
|
|
|
|
|
|
|
|
Capital and reserves |
|
4 434 129 |
|
5 286 421 |
|
|
|
|
|
|
|
Special funds |
|
4 375 497 |
|
5 231 568 |
|
Retained income |
|
58 632 |
|
54 853 |
|
|
|
|
|
|
|
Current liabilities |
|
703 585 |
|
617 507 |
|
|
|
|
|
|
|
Accounts payable |
|
45 973 |
|
76 014 |
|
Deposits and fees paid in advance |
|
657 612 |
|
541 493 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Total equity and liabilities |
|
5 137 714 |
|
5 903 928 |
|
|
|
|
|
|
|
ASSETS |
|
|
|
|
|
|
|
|
|
|
|
Non-current assets |
|
3 696 537 |
|
3 792 470 |
|
|
|
|
|
|
|
Property and equipment |
|
3 696 537 |
|
3 792 470 |
|
|
|
|
|
|
|
Current assets |
|
1 435 940 |
|
2 106 221 |
|
|
|
|
|
|
|
Bank balances and cash |
|
1 043 783 |
|
1 919 243 |
|
Trade and other receivables |
|
206 633 |
|
84 856 |
|
Deposits paid |
|
2 000 |
|
2 000 |
|
Payments in advance |
|
130 526 |
|
41 535 |
|
Inventory-consumables |
|
52 998 |
|
58 587 |
|
|
|
|
|
|
|
Investments |
|
5 237 |
|
5 237 |
Total assets |
|
5 137 714 |
|
5 903 928 |
|
VULEKA SCHOOL |
Annual General Meeting 12 March 2011 |
||||||||||
|
Statement of Comprehensive Income |
|||||||||||
|
2010 Actual and 2011 Budget |
|||||||||||
|
2008 |
Vuleka has 27 classes |
562 pupils |
|||||||||
|
2009 |
Vuleka has 28 classes |
585 pupils |
|||||||||
|
2010 |
Vuleka has 28 classes |
600 pupils |
|||||||||
|
2011 |
Vuleka has 30 classes |
637 pupils |
|||||||||
|
2011 |
2010 |
2010 |
2009 |
||||||||
|
Budget |
Actual |
Budget |
Actual |
||||||||
|
|
31-Dec |
|
31-Dec |
||||||||
|
INCOME |
R |
R |
R |
R |
|||||||
|
|
|
|
|
||||||||
|
Fees |
6,526,355 |
5,340,711 |
5,351,655 |
4,490,493 |
|||||||
|
Enrolment Fees |
22,500 |
33,820 |
18,000 |
29,700 |
|||||||
|
Interest |
40,000 |
70,659 |
20,000 |
165,314 |
|||||||
|
Subsidy |
1,341,120 |
1,008,181 |
763,986 |
804,313 |
|||||||
|
Consumables |
565,125 |
508,155 |
505,125 |
396,055 |
|||||||
|
Outings |
210,210 |
189,405 |
192,090 |
150,339 |
|||||||
|
Trs from special funds |
72,000 |
72,000 |
342,000 |
72,000 |
|||||||
|
Bad debt recovered |
1,512 |
- |
|||||||||
|
Book fines |
|
345 |
205 |
||||||||
|
Uniform sales |
27,680 |
16,502 |
|||||||||
|
Parent contributions to development |
101,270 |
||||||||||
|
Donations |
|
4,582,459 |
|
3,059,133 |
|||||||
|
Donations and contributions transferred to special funds |
-3,595,709 |
-1,502,269 |
|||||||||
|
Fundraising |
|
154,393 |
|
93,212 |
|||||||
|
8,777,310 |
8,494,881 |
7,192,856 |
7,774,997 |
||||||||
|
|
|
|
|
||||||||
|
EXPENSES |
|
|
|
|
|||||||
|
|
|
|
|
||||||||
|
Staff Costs |
8,128,014 |
6,624,976 |
6,888,724 |
6,072,639 |
|||||||
|
Other Costs |
2,025,200 |
1,866,126 |
1,850,000 |
1,696,583 |
|||||||
|
|
|
|
|
||||||||
|
10,153,214 |
8,491,102 |
8,738,724 |
7,769,222 |
||||||||
|
|
|
|
|
||||||||
|
Surplus/shortfall to fundraise: |
1,375,904 |
3,779 |
-1,545,868 |
5,775 |
|||||||
|
Retained income at start of year |
54,853 |
49,078 |
|||||||||
|
Retained income at end of year |
58,632 |
54,853 |
|||||||||
|
VULEKA SCHOOL |
|||||||||
|
Detailed Expenses |
2011 |
2010 |
2010 |
2009 |
|||||
|
2010 Actual and 2011 Budget |
|
Actual |
Budget |
Actual |
|||||
|
|
31-Dec |
|
31-Dec |
||||||
|
637 pupils |
|
600 pupils |
590 pupils |
||||||
|
31 classes |
|
28 classes |
28 classes |
||||||
|
DETAILED EXPENSES |
R |
R |
R |
R |
|||||
|
STAFF COSTS |
8,128,014 |
6,624,976 |
6,888,724 |
6,072,639 |
|||||
|
Salaries |
7,599,995 |
6,209,768 |
6,461,000 |
5,699,395 |
|||||
|
UIF |
70,154 |
56,309 |
59,640 |
50,232 |
|||||
|
Workers Compensation |
13,329 |
11,332 |
11,332 |
13,133 |
|||||
|
Staff recruitment |
25,000 |
16,918 |
|
10,570 |
|||||
|
Provident Fund |
419,536 |
330,649 |
356,752 |
299,309 |
|||||
|
OTHER COSTS |
2,025,200 |
1,866,126 |
1,850,000 |
1,696,583 |
|||||
|
Advertising & publicity |
5,000 |
7,156 |
5,000 |
9,437 |
|||||
|
Bad debts |
100,000 |
87,671 |
100,000 |
38,333 |
|||||
|
Bank charges |
20,000 |
17,394 |
16,000 |
17,390 |
|||||
|
Cleaning & heating |
35,000 |
31,110 |
35,000 |
24,353 |
|||||
|
Consumables |
354,000 |
291,574 |
297,000 |
260,674 |
|||||
|
Depreciation |
300,000 |
296,884 |
265,500 |
283,434 |
|||||
|
Feeding schemes |
30,000 |
19,657 |
30,000 |
32,065 |
|||||
|
General expenses |
14,000 |
18,942 |
10,000 |
10,465 |
|||||
|
Insurance |
30,000 |
27,058 |
15,000 |
37,766 |
|||||
|
Interest paid |
- |
- |
80,000 |
- |
|||||
|
Outings and travel |
239,000 |
152,059 |
189,000 |
171,129 |
|||||
|
Outreach |
5,000 |
39,734 |
5,000 |
20,117 |
|||||
|
Postages |
9,000 |
8,340 |
8,500 |
9,160 |
|||||
|
Printing & stationery |
56,200 |
44,763 |
58,000 |
40,827 |
|||||
|
Profit/Loss on insurance claim |
|
-2,713 |
|
|
|||||
|
Pupils' worksheets |
132,000 |
128,169 |
114,000 |
112,583 |
|||||
|
Refreshments |
20,000 |
20,253 |
20,000 |
16,568 |
|||||
|
Rates & parish contributions |
131,000 |
105,259 |
102,000 |
85,194 |
|||||
|
Repairs & maintenance |
85,000 |
92,817 |
85,000 |
75,708 |
|||||
|
Security |
23,000 |
29,384 |
16,000 |
23,341 |
|||||
|
Software and support |
120,000 |
118,429 |
120,000 |
146,007 |
|||||
|
Stock written off |
|
11,218 |
|
|
|||||
|
Subscriptions |
47,000 |
34,568 |
37,000 |
31,689 |
|||||
|
Training & conferences |
75,000 |
93,540 |
62,000 |
75,881 |
|||||
|
Telephones |
195,000 |
192,860 |
180,000 |
174,462 |
|||||
|
TOTAL GENERAL EDUCATION EXPENSES |
10,153,214 |
8,491,102 |
8,738,724 |
7,769,222 |
|||||
|
ORPHANS & VULNERABLE CHILDREN |
1,200,000 |
1,151,875 |
700,000 |
710,066 |
|||||
|
STRATEGIC PLANNING COSTS |
472,710 |
3,227,904 |
3,530,702 |
714,608 |
|||||
|
Curriculum development |
in general budget |
|
in general budget |
in general budget |
|||||
|
Technology improvement |
in general budget |
|
in general budget |
19,068 |
|||||
|
Infrastructure & facilities |
472,710 |
3,227,904 |
3,530,702 |
660,040 |
|||||
|
Teacher development |
in general budget |
|
in general budget |
35,500 |
|||||
|
TOTAL EXPENDITURE |
11,825,924 |
12,870,881 |
12,969,426 |
9,193,896 |
|||||