CASH FLOW STATEMENT
FOR THE YEAR ENDED MARCH 2015
Cash flow statement for the year ended 31 March 2015
INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED MARCH 2015
Balance Sheet as at 31 March 2015
FACTS BEHIND THE FIGURES
The total income for the year has increased by 12% to 76.2 crores in FY 2014-15 from 68.0 crores in FY 2013-14.
SOURCES OF INCOME
The increase in income from affiliates is primarily for institutional capacity building on fundraising and new projects on education and gender. Institutional income increase is on account of new funding for Jammu and Kashmir food response, health and agriculture projects in Uttar Pradesh and a project on Assam recovery. Reduction in funding from corporate engagement is because the new fundraising strategy is still in its initial stages of implementation. Donation from affiliates has declined as the only disaster responded during the year was the Jammu and Kashmir foods as against three disasters in the earlier year i.e. Uttarakhand flash floods, Odisha cyclone and Muzaffarnagar conflict for which they had provided donations. The increase in income from Trailwalker was the result of increased number of teams participating in Mumbai Trailwalker (153 teams in FY 14-15 as against 70 in FY 13-14).
Increase in affiliate funding is primarily on account of additional Oxfam Novib funding for strengthening fundraising and institutional capacity along with new projects on education and gender from Oxfam Hong Kong. The other increase from Oxfam Australia and Oxfam International is for new projects on Disaster Risk Reduction and increase in fundraising capacity building grant respectively.
The decrease in funding from Oxfam Great Britain is dueto the conclusion of project in FY 13-14 on Assam rebuilding. Oxfam America's funding declined because of closure of project on issues related to global poverty in FY 13-14. Oxfam Germany supported project on education also came to an end in FY13-14.
EXPENDITURE ANALYSIS OF TOTAL EXPENDITURE*
* The figures of programme and fundraising cost include salaries and costs directly related to them as the income and expenditure is strictly according to requirements of Companies Act.
Increased programme expenditure is largely on account of increased grants, conflict recovery programs and other programme activities. Fundraising cost has increased on account of greater thrust upon increasing the reach and feel of Trailwalker event through media and the launch of App and related expenses. Employee benefit expense is increasing due to normal increments, provision of staff benefits like leave, provident fund, and gratuity for all employees and strengthening of support function
The composition of income for Fy 2014-15
year wise income from affiliates
COMPARISON OF GRANT
EXPENDITURE AS PART OF
The grants to our focus states have increased by 27% in comparison to FY 13-14 in line with our strategy. Thematically, Gender Justice has got the maximum increase in funding this year in comparison to FY 13-14.
GEOGRAPHIC DISTRIBUTION OF GRANT EXPENDITURE
THEMATIC DISTRIBUTION OF GRANT EXPENDITURE
Oxfam India added 14.6 lacs to its corpus fund through a fundraising event specifically meant for raising corpus. Decline in reserves is mainly on account of spending of last year reserves for current year programmes, which would get replenished next year. Catastrophe reserve of `1.35 crores for immediate response to humanitarian crisis and Contingency reserve of `1.5 crore continue to be the same as in FY 13-14. Capital assets fund reflects the written down value of the fixed assets. New additions in fixed tangible and intangible assets are capitalized and transferred to capital fund. Likewise deletion of such assets are adjusted from the capital fund. Increase in 'Other Current Liabilities' under the head Current Liabilities is primarily for advance funding received from donors for next financial year. Increase in short term provisions is on account of additional provision in leave and gratuity benefit for employees. Tangible assets have declined on account of reduced capital expenditure during the year as well as increased depreciation for change in useful lives of assets in accordance with schedule II of Companies Act 2013. Increase in intangible assets is on account of app for Trailwalker and website development. The decrease in long term loans & advances is on account of change in categorization of security deposits from non-current to current thereby, increasing the short term loans & advances under current assets. Other non-current assets represented deposits with maturity of more than a year which has increased slightly. No funds have been parked in mutual funds this year. Cash and bank balance representing primarily fixed deposits has increased because of advance funding received from donors for projects commencing next year. Increase in short term loans and advances is on account of advances with vendors for various purposes. Other current assets have declined on account of reduced accrual of income in comparison to FY 13-14.