REPORT Book 2020 Aug.Pmd
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MANGANAM ST.PETERS MAR THOMA CHURCH EXPENSES /OTHER FUND PAYMENTS EXCEEDED BUDGET/ NOT BUDGETED FOR 2019-20 Budget Actuals Excess % 2019 - 20 2019 - 20 Parish Expenses 1,00,000 Printing, Postage and Stationery 1,33,855 33,855 33.86% 1,00,000 Maintenance to Parsonages 1,26,100 26,100 26.10% 1,60,000 Edavaka dinam Expenses 1,72,030 12,030 7.52% 20,000 Family Week Expenses 30,435 10,435 52.18% Contribution to Nilakkal Trust 10,000 10,000 15,000 Nithyanidhanam 20,396 5,396 35.97% 22,000 Diocesan Convention 25,000 3,000 13.64% 36,000 Grant Nursery Teacher / LPS Spl Hand Allowance 38,800 2,800 7.78% 40,000 Travel Expenses Others 42,600 2,600 6.50% Diocesan Devpt Fund ( Deficit to meet Diocese target ) 2,250 2,250 8,000 First Class / Birudhu Pareeksha/ Bible Quiz Presents 10,067 2,067 25.84% 17,500 Leave Surrender Staff 22,909 5,409 30.91% Bank charges 1,101 1,101 10,000 Bible cost ( for gifts ) 10,360 360 3.60% Funds & Trust Accounts 4,00,000 Anathanam Alayam development works 10,68,125 6,68,125 167.03% ( Specific donations Rs. 729,225 ) 5,00,000 LP Schools Roof Renovation 5,78,534 78,534 15.71% 75,000 Karunyadeepam 1,50,657 75,657 100.88% Special Development Other Payments 47,765 47,765 50,000 Medical Aid 60,200 10,200 20.40% 75,000 Generator - Padinjarekara alayam 1,14,900 39,900 53.20% ( Specific donations Rs. 40,000 ) Bajaj Water Cooler 24,000 24,000 25,000 Furniture & Fixtures 29,990 4,990 19.96% Electrical Fittings 3,960 3,960 1 2 KURYAN & SUSEELAN Partners : Chartered Accountants CA. K.G. Suseelan B.Sc., FCA (FRN: 001635S) CA. P.A. Zachariah B.A., FCA CA. V.K. Kuryan B.Com., FC CA. Kuryan Kuryan B.Com., FCA, DISA (ICAI) INDEPENDENT AUDITORS’ REPORT To the Members of St. Peter’s Marthoma Church, Manganam. We have audited the accompanying financial statements of St. Peter’s Marthoma Church, Mangnam, Kottayam, which comprise the Balance Sheet as at 31st March 2020, the Income & Expenditure Account for the year ended 31st March 2020, the Receipts & Payments Account for the year ended 31st March 2020 and a summary of significant accounting policies and other explanatory information. Management’s Responsibility for the Financial Statements Management is responsible for the preparation of these financial statements in accordance with the Constitution & By-Laws and other relevant Laws applicable to the Church. This responsibility includes the design, implementation and maintenance of internal control relevant to the preparation and presentation of the financial statements that give a true and fair view and are free from material misstatement, whether due to fraud of error. Auditor’s Responsibility Our responsibility is to express an opinion on these financial statements based on our audit. We conducted our audit in accordance with the Standards on Auditing issued by the Institute of Chartered Accountants of India. Those Standards require that we comply with ethical requirements and plan and perform the audit to obtain reasonable assurance about whether the financial statements are free from material misstatement. An audit involves performing procedures to obtain audit evidence about the amount and disclosures in the financial statements. The procedures selected depend on the auditor’s judgment, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error. In making those risk assessments, the auditor considers internal control relevant to the preparation and fair presentation of the financial statements in order to design audit procedures that 3 are appropriate in the circumstances. An audit also includes evaluating the appropriateness of accounting polices used and the reasonableness of the accounting estimates made by management, as well as evaluating the overall presentation of the financial statements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion. Opinion In our opinion and to the best of our information and according to the explanations given to us, the financial statements give the information required by the Constitution and By-laws in the manner so required and give a true and fair view in conformity with the accounting principles generally accepted in India: (a) In the case of the Balance Sheet, of the state of affairs of St. Peter’s Marthoma Church, Manganam as at March 31st, 2020; (b) In the case of the Income & Expenditure Account, of the excess of Expenditure over Income for the year ended on that date; and (c) In the case of Receipts & Payments Account of the summary of Receipts & Payments during the year ended 31st March 2020. For KURYAN & SUSEELAN Chartered Accountants (F.R.N: 001635S) Kottayam, V.K. Kuryan (Partner) Memb. No. 021949 22.7.2020 4 Notes on Accounts (1) From the financial year 1997/98 St Peter’s Marthoma Church, Manganam has been preparing Income and Expenditure Account and Balance Sheet in addition to the Receipts & Payments Account. (2) The Church Committee estimated the value of all fixed assets as on 1.4.1997 and thereafter all additions and disposals were taken in to account and also provided depreciation year after year. (3) The Church Committee also incorporated the current liabilities as on 1.4.1997 in preparing the first Balance Sheet. (4) Assets which have no realisable value are taken at a nominal value of Re. 1/= 5 MANGANAM ST. PETER’S BALANCE SHEET LIABILITIES 31. 03. 2019 Sch 31. 03. 2020 General Fund As per last Balance Sheet 4,56,46,558 New Assets fm specific funding 40,000 Anathanam Alayam Renovation (3,38,900 Donation of old Motorcycle to Mission Field (15,040) Less: Excess of Expenditure over Income (14,49,732) 4,56,46,558 4,38,82,886 Endowments & Funds 40,30,610 Welfare Funds 1 42,18,470 4,19,872 Education Aid Funds 1 4,67,135 2,94,417 Marriage Aid Funds 1 2,12,513 9,22,031 Evangelist / Missionary Fund 1 9,52,292 2,45,573 Cemetery Fund 1 3,57,769 3,85,332 Provident Funds 1 4,78,604 98,000 Prov. For Clergy Transfer Benefits 1 35,450 1,27,655 Prov. for Staff Terminal Benefits 1 1,44,100 41,41,318 Church Development Funds 1 52,94,294 1,21,60,627 Current Liabilities 11,47,199 Sundry Creditors 1 14,48,903 7,056 GST payable 1 3,528 KFC payable 1 196 14,52,627 5,74,65,621 5,74,96,140 Sd/- Sd/- Sd/- Rev Dr Easow Mathew Rev Joji M George Dr Rony Rajan Paul Vicar Asst Vicar Secretary Sd/- Sd/- George Kurian Varkey V Cherian Trustee (Finance) Trustee ( Accounts ) 6 MAR THOMA CHURCH AS AT 31 MARCH 2020 ASSETS 31. 03. 2019 Sch 31. 03. 2020 Fixed Assets 13,31,978 Land and Developments 12,87,344 4,51,05,322 Buildings 4,37,31,877 2,84,822 Landscaping 2,13,617 1 Common Vault 1 11,85,647 Furniture and Fixtures 11,15,673 5,031 Computer 2,012 1,29,043 Electrical Fittings 1,13,053 19,252 Equipments 15,402 1,98,275 Generator 2,66,199 1,68,532 Sound System 1,43,252 3,358 Water Supply 2,855 1 Sanitary Fittings 1 4,45,379 Compound Wall & Gate 4,00,841 88,293 Vehicles 62,266 8,77,136 Indoor Stadium 7,89,422 1,48,077 CCTV 1,25,865 2 4,82,69,679 Current Assets 49,356 Loans, Advances & Other Receivables 48,555 91,012 Utility Deposits 91,012 3 1,39,567 Cash & Bank Balances: 52,35,793 Fixed Deposits (Ear marked Funds ) 66,22,515 6,08,152 Fixed Deposits ( Others ) 6,49,434 14,11,053 Balance with Banks 17,34,198 80,108 Cash on Hand 80,747 4 90,86,894 5,74,65,621 5,74,96,140 Sd/- Sd/- Sd/- John Koshy Lalu Mathew Kuryan & Suseelan Internal Auditor Internal Auditor Charted Accountants 7 INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2020 INCOME Description Sch Budget Actuals Budget 2019 - 20 2019 - 20 2020 - 21 Offertories & Subscriptions 5 37,09,500 32,84,277 24,77,500 Income from property 6 4,15,000 3,80,285 2,25,000 Interest 7 75,000 1,37,848 1,00,000 Miscellaneous Income 8 1,95,000 1,32,132 76,000 Excess of Expenditure over Income 18,61,618 14,49,732 24,16,435 TOTAL 62,56,118 53,84,274 52,94,935 EXPENDITURE Description Sch Budget Actuals Budget 2019 - 20 2019 - 20 2020 - 21 Salaries & Allowances 9 14,72,868 14,45,248 15,19,510 Administrative Expenses 10 26,76,250 19,73,128 16,65,925 Grants & Miscellaneous Exp 11 1,07,000 87,620 1,09,500 Depreciation 2 20,00,000 18,78,278 20,00,000 TOTAL 62,56,118 53,84,274 52,94,935 8 RECEIPTS & PAYMENTS ACCOUNT FOR THE YEAR 2019 - 20 RECEIPTS Budget Actuals Budget 2019 - 20 2019 - 20 2020 - 21 Opening Balance 52,35,793 Fixed Deposits ( Earmarked Funds ) 52,35,793 66,22,515 6,08,152 Fixed Deposits ( Others ) 6,08,152 6,49,434 14,11,053 Balance with Banks 14,11,053 17,34,198 80,108 Cash 80,108 80,747 73,35,106 73,35,106 90,86,894 Parish Revenue 37,09,500 Offertories & Subscriptions 32,84,277 24,77,500 4,15,000 Income from Property 3,80,285 2,25,000 75,000 Interest received on church funds 1,37,848 1,00,000 1,95,000 Other Income 1,32,132 76,000 43,94,500 Sub total 39,34,542 28,78,500 Funds & Trust Accounts 18,75,000 Welfare Funds 8,58,789 9,65,000 65,000 Education Aid Fund 1,51,657 1,00,000 60,000 Marriage Aid Fund: 20,000 30,000 3,70,000 Evangelistic and Missionary Funds: 64,217 12,000 1,65,000 Cemetery Fund 1,13,000 1,25,000 29,15,000 Development Funds 24,83,840 11,50,000 9,50,000 Special Offertories & Collections for other offices 9,07,343 3,00,000 50,000 GST / KFC 72,126 6,000 4,32,500 Other Receipts 7,29,420 1,42,800 2,20,000 Interest on Earmarked Funds 4,53,639 3,50,000 65,400 Provident Fund Parish Staff 65,400 68,400 1,000 Souvenir & Directory Receipts 800 1,000 71,68,900 Sub total 59,20,231 32,50,200 1,88,98,506 TOTAL 1,71,89,880 1,52,15,594 9 MANGANAM ST.