Knit-a-Square Financial Statements for 2013-14 and 2014-15

Our thanks to Anne Powell for pulling this information together!

ALSO

Sharon Fenell and Louise Tidman have gone through the lengthy financial statements and come up with this concise summary. Thanks, Ladies!

We have received a copy of the full annual statement. This is a very large document and too big for the forum, so we have diluted this and provided the key information.

For ease we have reported the information in GB sterling and US dollars.

Unfortunately it is clear to say and of no surprise that KAS has been operating on a shoestring budget and in year ending 2014 they ended on a loss of £1214/ $1877. Thank goodness, Ronda stepped in and provided financial support to keep it going.

The Knit- a-Square financial year ends in February. The information below is up to February 2015.

Donations

In 2013/2014 Knit -a -Square received £13988 / $21631 in donations.

In 2014/2015 Knit -a Square received £ 17022 / $26324 in donations.

The report does not provide a breakdown on these donations other than information below.

Operating Expenses 2014/2015

We have batched the key expenses together and there are no concerns on how the money is being spent.

Knit-a-Square ended the financial year with a balance of £1336/ $2066

Hi Diane, we are only presented with an annual report, unfortunately Ronda and her team are to busy to supply half yearly reports. This information is put together by the auditors. this is a really lengthy document and we have condensed this. .KAS outgoings have increased, as they now pay for the much needed office space , this started in 2014.Being realistic KAS need to have the same if not more funds than they received in 2014/2015, the numbers of squares being received is increasing and this in turn requires, additonal distribution costs and running costs etc. If KAS is to grow they need to build up a surplus fund.2015 has been a tough year, hence the fund raising campaigns we are running. At this moment in time KAS struggle on a monthly basis.

Replies

rosamund goodwin September 28, 2015 at 3:10am

KAS SA does so much good work for orphaned and vulnerable children on very little money. Thanks for the report x
Maureen (Maudie) Anne Bryan September 27, 2015 at 10:47pm

Thank you for the information.
Diana D September 27, 2015 at 3:44am

To Pam, Anne, Sharon and Louise,

Thank YOU Ladies!! Clear and instructive report.

I'm wondering, how much money is needed per financial year, ideally, according to prior years? How are they doing so far at present ? There is a semi - annual report also ?

Again, THANKS LADIES!!
- Sharon Fennell > Diana D September 27, 2015 at 5:06am
  
  Hi Diane, we are only presented with an annual report, unfortunately Ronda and her team are to busy to supply half yearly reports. This information is put together by the auditors. this is a really lengthy document and we have condensed this. .KAS outgoings have increased, as they now pay for the much needed office space , this started in 2014.Being realistic KAS need to have the same if not more funds than they received in 2014/2015, the numbers of squares being received is increasing and this in turn requires, additonal distribution costs and running costs etc. If KAS is to grow they need to build up a surplus fund.2015 has been a tough year, hence the fund raising campaigns we are running. At this moment in time KAS struggle on a monthly basis.
  - Diana D > Sharon Fennell September 27, 2015 at 5:56am
    
    Thanks Sharon!
    
    Bottom line we need to raise more money. How? You and Helen had a brilliant idea and is working. What else could we do?
    
    I'll keep knitting for now.
    
    Thanks, again.
    
    diana
    - mary > Diana D September 27, 2015 at 7:45am
      
      OH my goodness KAS really does operate on a shoestring...

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