“CENTER FOR RESEARCH, DOCUMENTATION AND PUBLICATION”
INDEPENDENT AUDITOR’S REPORT
Financial statements concerning managed donations during 2012
Contents:
Introduction...... 3
Management’s responsibility regarding financial reports...... 3
Auditor’s responsibility...... 3
Auditor’s opinion...... 5
General notes related to the audited subject...... 6
List of the all-inclusive incomes...... 7
List of financial position...... 8
List of the flow of money ...... 9
Accountancy policy...... 10
Explanatory notes concerning financial statements...... 12
Introduction
We were hired to audit the financial reports of the projects managed by “Center for Research, Documentation and Publication” that comprise Statement of Financial Position, Statement of Comprehensive Income, statement of cash flows and the summary of accounting procedures as well as other explanatory notes regarding 2012.
The management’s responsibility regarding financial reports
The management is responsible of the accurate preparation and presentation of financial lists in concordance with International Standards of Financial Reporting. This responsibility includes: the designing, implementation and maintenance of internal controls that are essential to the accurate preparation and presentation of financial lists that do not entail material mistakes, fraud, or mistakes that may occur while choosing and applying appropriate accountancy policies; it also includes the realization of accounting evaluations that are reasonable under specific circumstances.
Auditor’s responsibility
Our responsibility is to express our opinion concerning the financial lists based upon our auditing.
We have carried out the auditing in accordance with International Auditing Standards. These standards require that we are in complete conformity with ethical auditing. The planning and completion of auditing implies the achievement of a reasonable security provided that financial lists do not contain material mistakes.
Auditing includes the accomplishment of the corresponding procedures and examinations that ensure sufficient proof concerning the unfolding and the presented values in the transactions of the Financial Lists.
The chosen procedures depend upon the auditor’s assessment, thus including the evaluation of the risk related to the material mistakes in financial lists, as a result of a mistake or fraud.
While accomplishing these risk assessments, the auditor bases himself on the internal controls relevant to the accurate preparation and presentation of the financial lists so that the designing of the auditing procedures is in conformity with the specific circumstances. However, this is done without the intention of expressing one’s opinion concerning the internal controls of the entity.
Auditing includes the appropriate evaluation of the accounting policies that are utilized, as well as the sensible nature of the accomplished assessments carried out by the management. It also includes the evaluation of the overall presentation of financial lists.
We believe that the evidence presented by the auditing management is sufficient and appropriate for the foundation of our opinion.
Auditor’s opinion
In view ofthe financial statements presented by “Center for Research, Documentation and Publication” we can conclude that the Financial Statements display a genuine and fair view of the financial position concerning the donations presented and managed during 2012. Financial unfoldings are in conformity with the International Standards of Accountancy. Based upon these evaluations, we present an unreserved opinionregarding the relevant financial reports.
Executor of Auditing Services:
Shaqir Rexhepi,
______
Legal Auditor Date: 03.02.2013
General notes related to the audited subject
“Center for Research, Documentation and Publication” was formally established as a non-governmental organization (NGO) operating in Kosovo for Research, Documentation and Publication;(“the Organization”) was registered under Law no. 03/L-134, Section 9 on Freedom of Association in Non-Governmental Organizations in Kosovo, on 18 February 2010 under registration no 5200213-5.
The Center was founded with the principal goal of improving, developing and ever advancing the potential abilities and skills within the scope of local capacities. It aims at supporting as well as helping the respective physical and jurisdictional persona; it also aims at advancing thecommitments of the Kosovar civil societies’ efforts in the creation of positive culture, tradition and institutions. Furthermore, it encompasses research, documentation and publication of facts, events and phenomena entailing historical and democratic relevancy in Kosova.
To fulfil its objectives, goals and aims, the center will accomplish all of the following activities (including other potential activities).
CRDP will collect, scrutinize, analyze, document and publish analyses, annual reports, various tape materials, footages, photos and CD’s. Over more, it will analyze other documented modalities regarding various people, families and groups pertaining to the interests of the NGO. It will also deal with different institutions related, one way or the other, to wars. For the purposes of this study, it will compile and implement appropriate plans and programmes that involve advancement.
CRDP will cooperate and coordinate its duties and activities with all the similar organizations, associations and institutions; it will also cooperate with institutions of this nature, whether in our country or abroad.
The Center is legally represented by the executive director Nora Ahmetaj; she is responsible for the fulfilment of the rights, duties and authorizations concerning the representation of the center.
CRDP consists of the board that always acts in accordance with its interests, demands, needs andobjectives.
The board will be responsible for the control and management of all the relevant issues, including the welfare of the center. These will be carried out in conformity with the center’s board.
Headquarters of CRDP are situated in Prishtinë at “Bregu i Diellit” quarter, st. Gazmend Zajmi “No/34 Prishtinë.
Center for research, Documentation and Publication
Registering Number 5200213-5
List of the all-inclusive incomes and expenses (Statement of Comprehensive Income)
31 December 2012Not
Income;
Grant Income / 1 / 52.681.72
Total Income ; / 52.681.72
Expenses
Personnel Expenses / 2 / 28,181.00
Other operating expenses / 3 / 23,447.31
Depreciation / 4 / 1026.40
Total expenses / 52.681.72
Surplus /Deficit for year / 0.00
Explanatory remarks concerning the respective financial positions are presented in the explanatory notes from page 12 to 15.
Center for Research, Documentation and Publication
Registering Number 5200213-5
List of financial position:
31 December 2012Assets;
Current assets;
Cash and cash equivalents / 5 / 23,779.87
Total Current assets: / 23,779.87
Non-circulating wealth;
6
Main equipment-supplies, accessories, computers, furniture / 4,105.60
Non-current assets; / 4,105.60
Total assets ; / 27,885.47
Liabilities and fund balance
Deferred liability ; / 7 / 4,105.60
Deferred revenues ; / 8 / 18,170.80
Accrued liabilities ; / 9 / 5,609.07
Total liabilities / 27,885.47
Explanatory remarks concerning the respective financial positions are presented in the explanatory notes from page 12 to 15.
Center for Research, Documentation and Publication
Registering number 5200213-5
Statement of Cash flows
31 December 2012Flow of cash from operative activities / Not
Reception of cash money / 10 / 52,070.81
Cash money paid for furniture and salaries / 11 / 44,952.94
Net cash from operative activities / 7,117.87
Net accrual in cash and cash equivalent / 7,117.87
Cash and equivalent cash 01.01.2012 / 12 / 16,662.00
Cash and equivalent cash31.12.2013 / 13 / 23,779.87
Explanatory remarks concerning the respective financial positions are presented in the explanatory notes from page 12 to 15.
The company’s management and the financial head are responsible for the preparation, presentation and signing of financial lists from 01.01.2012 to 31.12. 2012
Executive Director (Head) Financial Manager:
______
Nora Ahmetaj Xheladin Bytyqi
- Accountancy policies utilized for the preparation of Financial Lists
For the year completed in 31.12.3012
1.1 Basis of the preparation of Financial Reports
Financial lists are prepared in conformity with International Standards of Financial Reporting; the goal of the financial lists (involving general aims) isto ensure information related to financial position.
1.2 Non-circulating wealth
Policies employed for the depreciation of the non-circulating wealth are established via the linear method that allocatestheir costs or the re-evaluated sums related to the remaining values of utilization longevity foreseen as follows:
Furniture / 20 %Computers / 20 %
Equipment / 20 %
1.3 Cash and cash equivalents
Cash and cash equivalents include cash in the bank and cash money. For the purposes of a list reflecting cash flow, cash and cash equivalents comprise money and money equivalents.
1.4 Operative expenses
Operative expenses are recognized in the list of incomes in the scope of service completion or in the original date. Expenses are recognized in accordance with the accrual principle, i.e. the moment it happens.
1.5General incomes
General incomes originate from donations given by foreign institutions in concordance with the projects involving genuine value. This entails a reasonable certainty of a donation grant while the subject is expected to fulfil the tacit conditions.
1.6Events after the statement of accounts
Events after the end of the year that provide extra information companies’ position at the date of the statement accounts are reflected on the financial statements. Events after the end of the year that do not influence the corresponding statement of accounts are shown as notes when the sums are materials proper.
1.7 Fair value
The Organization has financial assets, which include cash and cash equivalents. The Organization has financial liabilities, which include accrued liabilities. The fair values of these financial instruments are not materially different from their stated value due to their short maturity and approximation of cash.
1.8 Credit risk
Financial instruments, which potentially expose the Organization to credit risk, consist primarily of cash and cash equivalents and other receivables. The receivables credit risk is controlled through approvals of receivables and budget expenditures that generate such receivables.
1.9Contingent duties
Contingent duties are not listed in financial statements. These are displayed only if it is likely that the company might have expenditure in the future as a consequence of a non-fulfilment of duties.
2. Explanatory notes concerning Financial Statements;
For the year that ended the 31.12.2012
In the ensuing section, explanatory notes related to the data listed in the financial statements will be presented
2.1 General incomes according to donations
The explanation of note n.1, presented in the statement of incomes and expenses
31 december 2012
MOTT 18,418.20
US grant 16,337.77
RBF 17,925.74
Total 52,681.71
The incomes included in the explanatory note n.1 are related to the means that are implemented in the scope of the fulfilment of the projects till 31.12.2012.
2.2Employee’s salaries
The explanation of note n.1, presented in the statement of incomes and expenses
31.12.2012
Description / MOTT / US GRANT / RBF / TOTALExecutive Director / 5,917.98 / 2,273.7 / 3,486.60 / 11,678.28
Financial manager / 550.00 / 728.00 / 1,895.60 / 3,173.60
Office manager / 1,175.4 / 836.39 / 3,351.20 / 5,362.99
Psychotherapist / 1,949.7 / 1,809.00 / 0.00 / 3,758.70
Pension / 390 / 614.53 / 1,697.66 / 2,702.19
Researcher/Sociologist / 0.00 / 1,505.24 / 0.00 / 1,505.24
Total / 9,983.08 / 7,766.86 / 10,431.06 / 28,181.00
2.3Other operative expenses
In the explanatory note n.3, that is placed in the list of incomes and overall expenses, all the spending operative activities are presented in relation to the three donations managed during 2012.
The explanation of note n.3, presented in the statement of incomes and expenses
31.12.2012
Description / MOTT / US grant / RBF / TotalRent of Office / 1,765.00 / 0.00 / 2,000.00 / 3,765.00
Administrative Costs / 108.76 / 0.00 / 0.00 / 108.76
Bank charge / 110.00 / 0.00 / 30.10 / 140.10
Communication / 479.72 / 0.00 / 57.00 / 536.72
Contractual / 0.00 / 4,579.80 / 0.00 / 4,579.80
Utilities / 268.92 / 0.00 / 802.74 / 1,071.66
Cleaning and hygienic material for centre / 134.12 / 0.00 / 0.00 / 134.12
Miscellaneous / 769.95 / 0.00 / 639.90 / 1,409.85
Travel / 0.00 / 2,494.53 / 0.00 / 2,494.53
Expert - Local/Regional ) / 300.00 / 0.00 / 300.00
Accommodation and Transport for NGO participants in the DWP workshop / 2,781.00 / 0.00 / 2,781.00
Transport for workshop participants / 259.00 / 0.00 / 259.00
Space for workshops / 200.00 / 0.00 / 200.00
Transport / 197.75 / 0.00 / 197.75
Equipment / 0.00 / 0.00 / 416.00 / 416.00
Web site / 0.00 / 0.00 / 649.80 / 649.80
Registration and statute / 0.00 / 0.00 / 1,900.00 / 1,900.00
Designer of logo / 0.00 / 0.00 / 999.14 / 999.14
Supplies / 0.00 / 149.90 / 0.00 / 149.90
Other direct cost / 0.00 / 966.68 / 0.00 / 966.68
Fringe / 0.00 / 380.00 / 0.00 / 380.00
Refreshments/Finger food / 34.50 / 0.00 / 0.00 / 34.50
Grand total / 7,408.72 / 8,570.91 / 7,494.68 / 23,474.31
2.4 Treasury and cash account
The explanation of note n.5, presented in the statement of incomes and expenses
__ _ 31.12.2012
Cash at bank 23,179.87
Cash at hand 600.00
Grand total 23,779.87
2.5Non-circulating wealth
The explanation of note n.6, presented in the statement of financial position
Accumulated depreciation
Furniture / Computers / Equipment’s / TotalAt 01.01.2012 / 1,082.00 / 734.00 / 384.00 / 2,200.00
Depreciation charge for the year / 504.80 / 342.60 / 179.20 / 1,026.60
At 31.12.2012 / 1,586.80 / 1076.60 / 563.20 / 3,226.60
Carrying amounts
At 01.01.2012 / 2,524.00 / 1,713.00 / 896.00 / 5,133.00At 31.12.2012 / 2019.20 / 1,370.40 / 716.80 / 4,106.40
2.6 Deferred revenues
The explanation of note n.8, presented in the statement of financial position
__ 31.12.2012
MOTT 10,747.80
Dutch Embassy 7,423.00
Grand total 18,170.80
2.7 Accrued liabilities
The explanation of note n.9, presented in the statement of financial position
_ 31.12.2012
Designs and printing 3,790.20
Contractual 418.87
Grand total 4,209.07
2.8 Reception of Cash at hand
The explanation of note n.10, presented in the statement of the flow of cash at hand
31.12.2012
MOTT 28,309.12
US grant 16,337.77
Dutch Embassy 7,423.92
Grand total 52,070.81
2.9 Cash at hand 01.01.2012
The explanation of note n.12, presented in the statement of the flow of cash at hand
___ 01.01.2012
Cash at bank 15,845.00
Cash at hand 817.00
Grand total 16,662.00
2.10 Cash at hand 31.12.2012
The explanation of note n.13, presented in the statement of the flow of cash at hand
31.12.2012
Cash at bank 23,179.87
Cash at hand 600.00
Grand total 23,779.87
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