Annual Report 2015
The total income of AEAI SEA and China in 2015 was USD 3.655 million, representing an increase of USD 0.5m (15%) against 2014 levels, with a strengthened U.S. dollar in fiscal year 2015 impacted exchange rate fluctuations USD 0.3 million over the course of the year. Most of AEAI SEA & China’s FY15 income came from sponsors, individual major donors and institutional donors. The generosity and continued dedication to our work on the part of these critical supporters is deeply appreciated.
AEAI SEA and China’s total expenditure in 2015 was USD 4.030 million. This is an increase of 66% on the prior year. The unspent of restricted fund from 2014 were carried forward to implement the programme activities in 2015. This significant increase was due to the Cambodian consortium of out of school programme led by AEA Cambodia.
Management is responsible for the preparation of AEAI SEA & China’s financial statements in accordance with conformity with regulation No. 99.01 (France Law) and Regulation No 99.03 as declared by the “Comité de la Réglementation Comptable” (the C.R.C – the Accounts Regulations Committee). The Financial Statements of AEA Hong Kong are consolidated with AEA France under special conditions. This responsibility includes maintaining the integrity and objectivity of financial records, protection of association assets, and compliance with funder restrictions and instructions.
The statements were prepared to show reciprocal statements for final consolidation by AEAI while Hong Kong’s Statements were prepared in accordance with Hong Kong accounting standards. These statements are audited by Ernst & Young Cambodia and Tam, Au & Co, Hong Kong local audit firm under AEAI audit scope followed by Group Audit’s instructions from E&Y France.
As our statements for final consolidation show, 90 percent of overall operating expenses went towards varied thematic educational programmes, which include: Access and Quality of Education, Inclusive Education, Early Childhood Care Education, and Livelihood Education. We applied the remaining 10 percent to management and general activities and fundraising. We remain conscious of the need to increase cost effectiveness and value for money in our operations. Moreover, we strive to build a more sustainable future in our programmatic efforts, operating practices and financial management. With the close of a successful FY15, we head into the future with confidence and strength.
A founding principle of Aide et Action International that guarantees solidarity among all its members, the pooling of resources is also applicable to financial resources raised by the Aide et Action Network.
With the exception of funds allocated to specific projects by donors, these resources are assigned to projects and regions in accordance with the priorities identified.