Fifty-fourth Annual Report 2008
Barbados Family Planning Association
2
Barbados Family Planning Association
4
Fifty-fourth Annual Report 2008
5
Barbados Family Planning Association
I wish to commend the “Board’s continued support
for the work of the youth arm of the Association (YAM) and commend them for their talents and contribution.
”
6
Fifty-fourth Annual Report 2008
7
Barbados Family Planning Association
Message from the President
8
Fifty-fourth Annual Report 2008
9
Barbados Family Planning Association
Message from the Executive Director
10
Fifty-fourth Annual Report 2008
“The road ahead, though
rough and punctuated with uncertainty at this time in our history, provides for us the opportunity to demonstrate once again our tenacity, creativity and instincts for survival.
�
11
Barbados Family Planning Association
“The Barbados Family
Planning Association, though challenged by the prevailing financial climate, has not despaired...
�
12
Fifty-fourth Annual Report 2008
overview
13
Barbados Family Planning Association
Overview
14
Fifty-fourth Annual Report 2008
15
Barbados Family Planning Association
16
Fifty-fourth Annual Report 2008
17
Barbados Family Planning Association
Medical and Clinical Services
Male Clinic Services 2008
18
Fifty-fourth Annual Report 2008
Medical and Clinical Services
19
Barbados Family Planning Association
Medical and Clinical Services
Attendance for Contraceptive and Non-Contraceptive Services 2004-2008
* Includes spermicides, foams, jellies and diaphragms 20
** C.B.D.C Client Visits not available
Fifty-fourth Annual Report 2008
“On average,
Total Male Clients expanded marginally by 1%, while those accessing medical services grew by 6%.
�
21
7497418927492+3748723899353975693577927846239473897889-09827493264197354 *648762641285562157241525 2308365439568975438738778356829376478568265389784584376585+78973729842658475485347654979654378564 547-76937659275627365-6735568926571-67832658266235+8798632728528736576+586252645461862578476549796 5+87986327*65735735621572415254547-76937659275627365-67355628528736576+586252645461862578476549796 7927846239473897889-09827493264197354 *64876264128514287904219041874914*12387497418927492347654979 Barbados 5353765843543-487643964674823487384647634987-34674986789467843676582328152653218397373631476549796 Family Planning Association 7497418927492374872389935397569357+7927846239473897889-4765497965437856423214214141h4hy210482190035+879863276573573562157241525454776937659275627365-67355628528736576+586252645461862578979654378 874974189274923748723899353975693577927846239473897889-09827493264197354 *648762641285142979654378 5+87986327*6573573562157241525454776937659275627365-67355628528736576+586252645461862578845843765 7927846239473897889-09827493264197354 *64876264128514287904219041874914*12387497418927492384584376 547-76937659275627365-6735568926571+67832658266235+8798632728528736576+586252645461862578845843765 74974189274923748723899353975693577927846239473897889-09827493264197354 *6487626412851425779278462 35+8798632765735735621572415254547-76937659275627365-67355628528736576+586252645461862578577927846 874974189274923748723899353975693577927846239473897889-09827493264197354 *648762641285142577927846 5+87986327*65735735621572415254547+76937659275627365-67355628528736576+58625264546186562157241525 7927846239473897889-09827493264197354 64876264128514+287904219041874914*12387497418927456215724152 547-76937659275627365-6735568926571-67832658266235+8798632728528736576+586252645461856215724152545 5+87986327*65735735621572415254547-76937659275627365-67355628528736576+5865621572415254547+7693765 7927846239473897889-09827493264197354 *64876264128514287904219041874914*12387495621572415254547+76 547-76937659275627365-6735568926571+67832658266235+8798632728528736576+58625264545621572415254547+ 7497418927492+3748723899353975693577927846239473897889-09827493264197354 *648762641285562157241525 35+8798632765735735621572415254547-76937659275627365-67355628528736576+586252645465621572415254547 078616185357936256136587641921297467467459725425419541972541972575491028492475621572415254547+769 765783-54568456872542635471257457628274674947284912424694697546762767843542753651-67832658266235+8 2308365439568975438738778356829376478568265389784584376585+78973729842658475485621572415254547+76 547-76937659275627365-6735568926571-67832658266235+8798632728528736576+586252645461-67832658266235+ 5+87986327*65735735621572415254547-76937659275627365-67355628528736576+58625264546181-678326582662 7927846239473897889-09827493264197354 *64876264128514287904219041874914*1238749741891-6783265826623 547-76937659275627365-6735568926571+67832658266235+8798632728528736576+58625264546186251-678326582 7497418927492+3748723899353975693577927846239473897889-09827493264197354 *648762641285141-678326582 35+8798632765735735621572415254547-76937659275627365-67355628528736576+58625264546186251-678326582 0786161853579362561365876419212974674674597254254195419725419725754910284924783764246681-678326582 765783-5456845687254263547125745762827467494728491242469469754676276784354275365472435453762827467 2308365439568975438738778356829376478568265389784584376585+78973729842658475485347654977628274674 765783-5456845687254263547125745762827467494728491242469469754676276784354275365472435453276282746 2308365439568975438738778356829376478568265389784584376585+78973729842658475485347654979654762827 547-76937659275627365-6735568926571-67832658266235+8798632728528736576+586252645461862578762827467 5+87986327*65735735621572415254547-76937659275627365-67355628528736576+586252645461862578762827467 7927846239473897889-09827493264197354 *64876264128514287904219041874914*12387497418927492-098274932 5353765843543-487643964674823487384647634987-346749867894678436765823281526532183973-09827493264197 57328657823326786590128937601528765836583953729870893753758278957832626735523656738957325857-09827 +87986327*65735735621572415254547-76937659275627365-67355628528736576+586252645461862578-098274932 7927846239473897889-09827493264197354 *64876264128514287904219041874914*123874974189274923-09827493 547-76937659275627365-6735568926571+67832658266235+8798632728528736576+586252645461862578-09827493 7497418927492+3748723899353975693577927846239473897889-09827493264197354 *648762687238993539756935 7927846239473897889-09827493264197354 *64876264128514287904219041874914*12387497418927492387238993 547-76937659275627365-6735568926571+67832658266235+8798632728528736576+586252645461862578872389935 74974189274923748723899353975693577927846239473897889-09827493264197354 *6487626412851428723899353 35+8798632765735735621572415254547-76937659275627365-67355628528736576+586252645461862578872389935 874974189274923748723899353975693577927846239473897889-09827493264197354 *648762641285142573562157 7497418927492374872389935397569357+7927846239473897889-09827493264197354 *648762641285142573562157 35+879863276573573562157241525454776937659275627365-67355628528736576+5862526454618625735621572415 874974189274923748723899353975693577927846239473897889-09827493264197354 *648762645735621572415254 5+87986327*6573573562157241525454776937659275627365-67355628528736576+58625265735621572415254547-7 persons to graduate from 7927846239473897889-09827493264197354 *64876264128514287904219041874914*1238745735621572415254547-7 the family life education 547-76937659275627365-6735568926571+67832658266235+8798632728528736576+586252645461862575-67355689 74974189274923748723899353975693577927846239473897889-09827493264197354 and*648762641285145-6735568926 peer counselling 2308365439568975438738778356829376478568265389784584376585+78973729842658475485347654979654378564 training programmes in 547-76937659275627365-6735568926571-67832658266235+8798632728528736576+5862526454618625785-67355689 5+87986327*65735735621572415254547-76937659275627365-67355628528736576+5862526454618625785-6735568 7927846239473897889-09827493264197354 *648762641285142879042827493264197354 *6487626412851428790421 5353765843543-487643964674823487384647634987-34674986789467843676582328152653218397373631827493264 7497418927492374872389935397569357+7927846239473897889-09827493264197354 *648762641285142827493264 35+879863276573573562157241525454776937659275627365-67355628528736576+586252657241525454776937659 874974189274923748723899353975693577927846239473897889-09827493264197354 *645724152545477693765927 5+87986327*6573573562157241525454776937659275627365-67355628528736576+586252645457241525454776937 7927846239473897889-09827493264197354 *64876264128514287904219041874914*12387497572415254547769376 22 EVERY NUMBER HAS A FACE 547-76937659275627365-6735568926571+67832658266235+8798632728528736576+586252645461862527365-67355 74974189274923748723899353975693577927846239473897889-09827493264197354 *64876264128527365-67355689
77 I am one out of
2008
Fifty-fourth Annual Report 2008
23
Barbados Family Planning Association
Counselling Services/ Youth Development
24
Fifty-fourth Annual Report 2008
Counselling Services/ Youth Development
25
Barbados Family Planning Association
26
Fifty-fourth Annual Report 2008
FAMILY LIFE EDUCATION AND PEER COUNSELLING COURSES AND NO. OF GRADUATES YEAR
NO.
MALE
FEMALE
TOTAL
1994
4
24
88
112
1995
7
73
92
165
1996
4
28
91
119
1997
4
21
87
108
1998
4
17
66
83
1999
2
13
24
37
2000
2
6
22
28
2001
3
6
32
38
2002
3
4
37
41
2003
1
4
23
27
2004
3
24
69
93
2005
3
8
46
54
2006
3
3
51
54
2008
2
11
66
77
TOTAL
44
242
794
1036
27
Barbados Family Planning Association
Family Life Education and Peer Counselling Training Programme
28
Fifty-fourth Annual Report 2008
29
Barbados Family Planning Association
30
Fifty-fourth Annual Report 2008
31
790421904187491412387497418927492374872389935397569357+7927846239473897889-4765497965437856423214 5426571+67832658266235+879863276573573562157241525454776937659275627365-67355628528736576+5862526 7904219041874914*123874974189274923748723899353975693577927846239473897889-09827493264197354 *6487 926571+67832658266235+87986327*6573573562157241525454776937659275627365-67355628528736576+5862526 Barbados 4872389935397569357+7927846239473897889-09827493264197354 *64876264128514287904219041874914*123874 Family Planning Association 65735735621572415254547-76937659275627365-6735568926571+67832658266235+8798632728528736576+586252 7904219041874914123874974189274923748723899353975693577927846239473897889-09827493264197354 *64876 5426571+67832658266235+8798632765735735621572415254547-76937659275627365-67355628528736576+586252 7904219041874914+123874974189274923748723899353975693577927846239473897889-09827493264197354 *6487 926571+67832658266235+87986327*65735735621572415254547+76937659275627365-67355628528736576+586252 4872389935397569357+7927846239473897889-09827493264197354 64876264128514+287904219041874914*123874 65735735621572415254547-76937659275627365-6735568926571-67832658266235+8798632728528736576+5862526 926571+67832658266235+87986327*65735735621572415254547-76937659275627365-67355628528736576+586562 4872389935397569357+7927846239473897889-09827493264197354 *64876264128514287904219041874914*123874 65735735621572415254547-76937659275627365-6735568926571+67832658266235+8798632728528736576+586252 790421904187491412387497418927492+3748723899353975693577927846239473897889-09827493264197354 *6487 5426571+67832658266235+8798632765735735621572415254547-76937659275627365-67355628528736576+586252 6472864294176125125307861618535793625613658764192129746746745972542541954197254197257549102849247 46234813217478463430765783-5456845687254263547125745762827467494728491242469469754676276784354275 358932859768562765972308365439568975438738778356829376478568265389784584376585+78973729842658475 65735735621572415254547-76937659275627365-6735568926571-67832658266235+8798632728528736576+5862526 926571+67832658266235+87986327*65735735621572415254547-76937659275627365-67355628528736576+586252 4872389935397569357+7927846239473897889-09827493264197354 *64876264128514287904219041874914*123874 65735735621572415254547-76937659275627365-6735568926571+67832658266235+8798632728528736576+586252 790421904187491412387497418927492+3748723899353975693577927846239473897889-09827493264197354 *6487 5426571+67832658266235+8798632765735735621572415254547-76937659275627365-67355628528736576+586252 6472864294176125125307861618535793625613658764192129746746745972542541954197254197257549102849247 46234813217478463430765783-5456845687254263547125745762827467494728491242469469754676276784354275 358932859768562765972308365439568975438738778356829376478568265389784584376585+78973729842658475 46234813217478463430765783-5456845687254263547125745762827467494728491242469469754676276784354275 358932859768562765972308365439568975438738778356829376478568265389784584376585+78973729842658475 65735735621572415254547-76937659275627365-6735568926571-67832658266235+8798632728528736576+5862526 926571+67832658266235+87986327*65735735621572415254547-76937659275627365-67355628528736576+586252 4872389935397569357+7927846239473897889-09827493264197354 *64876264128514287904219041874914*123874 647368125187928764035353765843543-487643964674823487384647634987-346749867894678436765823281526532 5473868765834652387657328657823326786590128937601528765836583953729870893753758278957832626735523 26571+67832658266235+87986327*65735735621572415254547-76937659275627365-67355628528736576+5862526 4872389935397569357+7927846239473897889-09827493264197354 *64876264128514287904219041874914*123874 65735735621572415254547-76937659275627365-6735568926571+67832658266235+8798632728528736576+586252 790421904187491412387497418927492+3748723899353975693577927846239473897889-09827493264197354 *6487 to benefit from the Barbados 4872389935397569357+7927846239473897889-09827493264197354 *64876264128514287904219041874914*123874 Family Planning Associations 65735735621572415254547-76937659275627365-6735568926571+67832658266235+8798632728528736576+586252 7904219041874914123874974189274923748723899353975693577927846239473897889-09827493264197354 *64876 “Advocacy for Emergency 5426571+67832658266235+8798632765735735621572415254547-76937659275627365-67355628528736576+586252 Contraception” campaign in 7904219041874914+123874974189274923748723899353975693577927846239473897889-09827493264197354 *6487 790421904187491412387497418927492374872389935397569357+7927846239473897889-09827493264197354 *6487 5426571+67832658266235+879863276573573562157241525454776937659275627365-67355628528736576+5862526 7904219041874914*123874974189274923748723899353975693577927846239473897889-09827493264197354 *6487 926571+67832658266235+87986327*6573573562157241525454776937659275627365-67355628528736576+5862526 4872389935397569357+7927846239473897889-09827493264197354 *64876264128514287904219041874914*123874 65735735621572415254547-76937659275627365-6735568926571+67832658266235+8798632728528736576+586252 7904219041874914123874974189274923748723899353975693577927846239473897889-09827493264197354 *64876 358932859768562765972308365439568975438738778356829376478568265389784584376585+78973729842658475 65735735621572415254547-76937659275627365-6735568926571-67832658266235+8798632728528736576+5862526 926571+67832658266235+87986327*65735735621572415254547-76937659275627365-67355628528736576+586252 4872389935397569357+7927846239473897889-09827493264197354 *648762641285142879042827493264197354 *6 647368125187928764035353765843543-487643964674823487384647634987-346749867894678436765823281526532 790421904187491412387497418927492374872389935397569357+7927846239473897889-09827493264197354 *6487 5426571+67832658266235+879863276573573562157241525454776937659275627365-67355628528736576+5862526 7904219041874914*123874974189274923748723899353975693577927846239473897889-09827493264197354 *6457 926571+67832658266235+87986327*6573573562157241525454776937659275627365-67355628528736576+5862526 4872389935397569357+7927846239473897889-09827493264197354 *64876264128514287904219041874914*123874 65735735621572415254547-76937659275627365-6735568926571+67832658266235+8798632728528736576+586252 7904219041874914123874974189274923748723899353975693577927846239473897889-09827493264197354 *64876 5426571+67832658266235+8798632765735735621572415254547-76937659275627365-67355628528736576+586252 7904219041874914+123874974189274923748723899353975693577927846239473897889-09827493264197354 *6487 926571+67832658266235+87986327*65735735621572415254547+76937659275627365-67355628528736576+586252 32 EVERY NUMBER HAS A FACE 4872389935397569357+7927846239473897889-09827493264197354 64876264128514+287904219041874914*123874 65735735621572415254547-76937659275627365-6735568926571-67832658266235+8798632728528736576+5862526 926571+67832658266235+87986327*65735735621572415254547-76937659275627365-67355628528736576+586252
many
I am one out of
2008
Fifty-fourth Annual Report 2008
33
Barbados Family Planning Association
34
Fifty-fourth Annual Report 2008
35
Barbados Family Planning Association
“What can we
do to change our financial position? �
36
Fifty-fourth Annual Report 2008
chart 1. Income by Percentage - 2008
Notes to Chart Other Income constitutes Membership fees and Bank Interest Advertising/donations – Family magazine and Donations under Covenants
37
Barbados Family Planning Association
Finance Report
38
Fifty-fourth Annual Report 2008
Finance Report
39
Barbados Family Planning Association
Finance Report
Asset Composition Chart
Liabilities Composition Chart
Comparison of Gross Income, Surplus & Operating Expenses
40
– 82,930
22,600 105,530
17,623 376,107
263,935 640,042
Prepaid expenses
Total current assets
Non current assets: Property, plant and equipment (note 5)
Total assets
–
21,621 – –
28,533 54,397
26,683 302,838
Unrestricted
Donor restricted
BDS Dollars
7,342 –
Receivables: Other debtors IPPF grant receivable
Inventories (note 4)
Current assets Cash: Current account and in hand Interest bearing deposits
Assets
(expressed in Barbados dollars)
As of December 31, 2008
Balance Sheet
745,572
286,535
459,037
17,623
7,342 –
21,621
55,216 357,235
320,021
131,968
188,053
8,811
3,671 –
10,810
13,342 151,419
Total Unrestricted
Current year
52,765
11,300
41,465
–
– –
–
14,266 27,199
Donor restricted
US Dollars
372,786
143,268
229,518
8,811
3,671 –
10,810
27,608 178,618
Total
1,035,482
207,005
828,477
15,901
8,788 20,038
30,816
414,626 338,308
Total BDS $
Prior year
517,741
103,502
414,239
7,951
4,394 10,019
15,408
207,313 169,154
Total US $
Barbados Family Planning Association
43
44
76,998 105,530
552,307 640,042
Total fund balances
Total liabilities and fund balances
745,572
629,305
281,498 206,359 141,448
116,267
–
116,267
31,889
28,558
55,820
Total
320,021
276,153
140,749 103,178 32,226
43,868
–
43,868
15,945
13
27,910
Unrestricted
Current year
52,765
38,498
– – 38,498
14,267
–
14,267
–
14,267
–
Donor Restricted
US Dollars
372,786
314,651
140,749 103,178 70,724
58,135
–
58,135
15,945
14,280
27,910
Total
Approved by the Board on May 14, 2009 by President Executive Director
– – 76,998
28,532
281,498 206,359 64,450
Fund balances: Designated (note 9) Undesignated Fixed Assets Fund (note 10)
Total liabilities
Non - current liabilities: Borrowings (note 8) 87,735
28,532
87,735
Total current liabilities –
–
31,889
Borrowings (note 8)
–
28,532
26
Deferred income (note 7)
–
Unrestricted
Donor Restricted
BDS Dollars
55,820
Liabilities Current liabilities: Accounts payable and accrued expenses (note 6)
Liabilities and Fund Balances
(expressed in Barbados dollars)
As of December 31, 2008
Balance Sheet...continued
1,035,482
555,253
278,531 162,802 113,920
480,229
34,442
445,787
29,358
350,920
65,509
Total BDS $
Prior year
517,741
277,625
139,265 81,401 56,959
240,116
17,221
222,895
14,679
175,461
32,755
Total US $
Barbados Family Planning Association
Total income
Sales Interest income Fund raising income Miscellaneous
Other income:
Other donors IPPF/WHR Youth hotline
Government of Barbados IPPF cash grant IPPF commodity grant Release of fixed assets fund (note 10) Release of inventories fund
Grant income:
(expressed in Barbados dollars)
For the year ended December 31, 2008
– – – – 298,239
1,712,140
298,239 –
– – – – –
525,126 8,059 25,401 25,751
– –
1,050,000 48,911 14,049 14,843 –
Unrestricted
Donor restricted
BDS Dollars
2,010,379
525,126 8,059 25,401 25,751
298,239 –
1,050,000 48,911 14,049 14,843 –
Total
856,070
262,563 4,030 12,700 12,875
– –
525,000 24,456 7,025 7,421 –
Unrestricted
Current year
Statement of Income, Expenses and Changes in Undesignated Fund Balance
149,120
– – – –
149,120 –
– – – – –
Donor restricted
US Dollars
1,005,190
262,563 4,030 12,700 12,875
149,120 –
525,000 24,456 7,025 7,421 –
Total
2,022,716
527,758 9,659 26,555 525
358,129 5,213
987,500 43,080 16,559 19,578 28,160
Total BDS $
Total US $
1,011,356
263,878 4,829 13,277 262
179,064 2,607
493,750 21,540 8,280 9,789 14,080
Prior year
Barbados Family Planning Association
45
46
Undesignated fund balance - end of year
Surplus of income over expenses Undesignated fund balance - beginning of year Transfer from/(to) designated fund (note 9)
Total expenses:
Administration and general costs
Total projects
Strategy 1 - Family Development Services Strategy 2 - Medical and Related Services Strategy 3 - Governance and Sustainability
Expenses:
(expressed in Barbados dollars)
–
212,657
–
16,774 –
–
162,802
206,359
–
298,239
1,685,357 26,783
–
446,197
298,239
298,239
818,967
1,239,160
–
207,536
Unrestricted
Donor restricted
BDS Dollars
206,359
16,774
162,802
26,783
1,983,596
446,197
1,537,399
212,657
1,117,206
207,536
Total
103,178
8,385
81,401
13,392
842,678
223,098
619,580
106,329
409,483
103,768
Unrestricted
Current year
–
–
–
–
149,120
–
149,120
–
149,120
–
Donor restricted
US Dollars
Statement of Income, Expenses and Changes in Undesignated Fund Balance...continued
For the year ended December 31, 2008
103,178
8,385
81,401
13,392
991,798
223,098
768,700
106,329
558,603
103,768
Total
162,802
(10,667)
151,379
22,090
2,000,626
670,328
1,330,298
226,135
922,588
181,575
Total BDS $
335,163
665,149
113,068
461,294
90,787
Total US $
81,401
(5,334)
75,690
11,045
1,000,312
Prior year
Barbados Family Planning Association
Total at December 31, in US$
Total at December 31, in BDS$
Personnel and employee benefits Printing and stationery Cost of goods sold Occupancy costs Vehicle running costs Entertainment Medical consumables Communications Travel Training and seminars Insurance Audit fees Advertising General expenses Fixed assets: Depreciation Consultancy and other professional fees Bad debt written off Loan interest 200,078 3,398 –
1,453 – –
103,768
558,603
1,117,206
48,404
1,588
207,536
574,495 16,705 25,704 52,697 12,567 3,283 28,148 11,722 5,889 22,363 – – 91,907 19,846
149,967 10,556 – 6,213 6,674 550 – 12,207 1,650 13,463 – – 3,215 –
2008
73,727
147,454
– – –
–
131,124 16,330 – – – – – – – – – – – –
32,602
65,203
– – –
–
56,700 552 – – – 3,568 – – 2,985 1,398 – – – –
2007
768,700
1,537,399
201,531 3,398 –
49,992
912,286 44,143 25,704 58,910 19,241 7,401 28,148 23,929 10,524 37,224 – – 95,122 19,846
223,098
446,197
– – 3,979
19,679
1,983,596
201,531 3,398 3,979
69,671
168,374 – 3,111
56,878
991,798
– 2,000,626
100,766 1,699 1,990
34,835
591,999 1,232,158 33,648 58,821 12,852 24,011 46,728 163,520 21,290 43,297 5,724 10,025 14,074 18,197 19,713 41,840 10,092 45,609 18,762 40,816 4,172 7,678 11,996 6,181 47,652 41,736 13,806 38,374
US $
1,000,312
–
84,187 – 1,555
28,439
616,079 29,410 12,005 81,760 21,648 5,012 9,099 20,920 22,805 20,408 3,839 3,091 20,868 19,187
For the year ended December 31 2008 2007 Total Total BDS US BDS $ $ $
271,711 1,183,997 23,154 67,297 – 25,704 34,547 93,457 23,339 42,580 4,047 11,448 – 28,148 15,497 39,426 9,660 20,184 300 37,524 8,344 8,344 23,991 23,991 183 95,305 7,766 27,612
For the year ended December 31, 2008 (BDS Dollars) Medical Admin Empowering & related Resource Sub-total and finance youth services development Governance projects management
(expressed in Barbados dollars)
For the year ended December 31, 2008
Statement of Functional Expenses
Barbados Family Planning Association
47
Barbados Family Planning Association
Statement of Cash Flows
For the year ended December 31, 2008
(expressed in Barbados dollars)
BDS $
US $
BDS $
US $
26,783 19,741 2,900 – (14,843) 69,671 (23,606) (30,700)
13,392 9,870 1,449 – (7,421) 34,836 (11,803) (15,350)
22,090 15,888 2,988 (28,160) (19,578) 56,880 – (28,535)
11,045 7,944 1,494 (14,080) (9,789) 28,440 – (14,268)
Operating cash flows before working capital changes Changes in non-cash working capital balances
49,946 19,297
24,973 9,648
21,573 25,599
10,786 12,800
Cash from operations Interest received
69,243 31,898
34,621 15,949
47,172 27,397
23,586 13,698
101,141
50,570
74,569
37,284
Cash flows used in investing activities Property, plant and equipment acquired Proceeds on disposal of plant and equipment Amounts deposited Deposits redeemed
(130,991) 44,867 (346,809) 326,655
(65,495) 22,434 (173,405) 163,327
(12,777) – (326,655) 308,627
(6,389) – (163,327) 154,314
Net cash flows used in investing activities
(106,278)
(53,139)
(30,805)
(15,402)
Cash flows from financing activities Proceeds from borrowings Repayment of borrowings Deferred income
– (31,911) (322,362)
– (15,955) (161,181)
63,800 – 81,032
31,900 – 40,516
Net cash flows (used in)/from financing activities
(354,273)
(177,136)
144,832
72,416
(Decrease)/increase in cash and cash equivalents for the year
(359,410)
(179,705)
188,596
94,298
414,626
207,313
226,030
113,015
Cash and cash equivalents - end of year
55,216
27,608
414,626
207,313
Represented by: Current accounts and cash in hand
55,216
27,608
414,626
207,313
Cash flows from operating activities Surplus of income over expenses Interest income on designated fund Interest income on fixed assets fund Release of inventories fund Release of fixed assets fund Depreciation of plant and equipment Gain on disposal of plant and equipment Interest income
Net cash flows from operating activities
Cash and cash equivalents - beginning of year
48
Barbados Family Planning Association
Notes to Financial Statements December 31, 2008
(expressed in Barbados dollars)
49
Barbados Family Planning Association
Notes to Financial Statements December 31, 2008
(expressed in Barbados dollars)
2
Significant accounting policies ‌continued b) Income recognition
The Association recognizes unrestricted support grants as income in the period of receipt. Donor restricted grants for specific activities are deferred and recognized as income as the funds are expended.
Other income from sales and fund raising activities are recognised on the completion of the performance of services and customers’ acceptance.
Interest income is recognised on an accrual basis.
c) Inventories Inventories are reflected in the financial statements at the lower of cost and net realisable value. Cost is determined using the first-in first-out basis. d) Property, plant and equipment
Effective January 1, 1992, in keeping with the IPPF guidelines, property, plant and equipment acquired are reflected in the financial statements at cost. Prior to January 1, 1992 property, plant and equipment were recorded at a nominal value of $1. Donated property, plant and equipment are recorded at cost and credited to the Fixed Assets Fund account. The balance on the Fixed Assets Fund is released to income at the same rate at which these fixed assets are depreciated.
e) Depreciation
Depreciation is computed on the straight-line method at rates considered adequate to write-off the cost of depreciable fixed assets over their useful lives.
The useful lives are: Furniture and equipment Computer equipment Medical equipment Motor vehicles
-
3 - 10 years 3 - 5 years 5 years 5 years
f) Foreign currencies Foreign currency transactions during the year are translated into Barbados dollars at the exchange rate in effect at the date of the transaction. Amounts receivable and payable in foreign currencies at the balance sheet date are translated into Barbados dollars at exchange rates ruling at the balance sheet date. Any gains or losses are included in net income for the year.
50
Barbados Family Planning Association
Notes to Financial Statements December 31, 2008
(expressed in Barbados dollars)
51
Barbados Family Planning Association
Notes to Financial Statements December 31, 2008
(expressed in Barbados dollars)
4 Inventories Quantity
BDS $
US $
Contraceptives Condoms Copper T 380 A Depo Provera Norigynon Noristerat Exluton Marvelon Microgynon ED Trinordiol Nordette Roselle Lo Femenal Optnor Neo Sampoon
15,695 98 581 229 266 302 62 3,302 2,568 38 5,955 1,178 1,052 89
1,231 93 1,327 425 841 277 74 2,514 2,155 25 4,248 613 2,372 339
615 46 664 212 420 139 37 1,257 1,078 12 2,124 306 1,186 170
Clinical Equipment Cyto Brushes Disposable Gloves HCG Pregnancy test kits MR Syringe Kits Cannulae Silicone Lubricant
1,000 14,700 698 45 120 3
773 1,184 742 891 300 9
386 592 371 446 150 5
5 14 12 43 52
101 96 359 415 217
50 48 180 208 108
21,621
10,810
Brand name
Other Batrafen Cream Canesten Cream Cleocin Cream Gyno Travogen Cream Trovogen Cream
52
Barbados Family Planning Association
Notes to Financial Statements December 31, 2008
(expressed in Barbados dollars)
5 Property, plant and equipment Furniture and Computer Medical Land equipment equipment equipment $ $ $ $
Motor vehicles $
Total $
At December 31, 2006 Cost Accumulated depreciation
22,600 –
84,703 (43,077)
58,236 (38,378)
104,309 (51,228)
176,039 (71,694)
445,887 (204,377)
Net book value
22,600
41,626
19,858
53,081
104,345
241,510
Opening net book value Additions Disposals - cost Disposals - accumulated depreciation Depreciation charge
22,600 – –
41,626 17,889 (2,622)
19,858 1,995 –
53,081 2,491 –
104,345
241,510 22,375 (2,622)
– –
2,622 (9,443)
– (6,288)
– (16,045)
– (25,104)
2,622 (56,880)
Closing net book value
22,600
50,072
15,565
39,527
79,241
207,005
Cost Accumulated depreciation
22,600 –
99,970 (49,898)
60,231 (44,666)
106,800 (67,273)
176,039 (96,798)
465,640 (258,635)
Net book value
22,600
50,072
15,565
39,527
79,241
207,005
Opening net book value Additions Disposals - cost Disposals - accumulated depreciation Depreciation charge
22,600 – –
50,072 42,924 (10,003)
15,565 27,088 (9,570)
39,527 36,950 (2,490)
79,241 63,500 (54,175)
207,005 170,462 (76,238)
– –
10,003 (16,435)
9,570 (9,657)
990 (16,766)
34,414 (26,813)
54,977 (69,671)
Closing net book value
22,600
76,561
32,996
58,211
96,167
286,535
Cost Accumulated depreciation
22,600 –
132,891 (56,330)
77,749 (44,753)
141,260 (83,049)
185,364 (89,197)
559,864 (273,329)
Net book value
22,600
76,561
32,996
58,211
96,167
286,535
Year ended December 31, 2007
–
At December 31, 2007
Year ended December 31, 2008
At December 31, 2008
53
Barbados Family Planning Association
Notes to Financial Statements December 31, 2008
(expressed in Barbados dollars)
6 Accounts payable and accrued expenses 2008
Accounts payable Accrued expenses
54
2007
BDS $
US $
BDS $
US $
16,259 39,561
8,129 19,781
17,407 48,102
8,704 24,051
55,820
27,910
65,509
32,755
8 Borrowings
20,503
–
Total expenditure
Total restricted funds - end of year
71,375
–
–
369,614
298,239
369,614
–
20,503
Total funds available
322,362 47,252
IPPF/WHR
BDS Dollars
Funds expensed during the year Property, plant and equipment purchased during the year
20,503 –
Fund balance b/f Add funds received during year
Fryer Donation
7 Deferred income - statement of changes in Donor Fund balance
(expressed in Barbados dollars)
December 31, 2008
Notes to Financial Statements
8,030
–
–
–
– 8,030
8,030
Youth Hotline
28,533
369,614
71,375
298,239
398,147
350,895 47,252
Total
10,251
–
–
–
– 10,251
10,251
Fryer Donation
184,807
35,687
149,120
184,807
161,181 23,626
–
IPPF/WHR
US Dollars
–
–
–
–
4,015
4,015
4,015
Youth Hotline
14,267
184,807
35,687
149,120
199,074
175,448 23,626
Total
Barbados Family Planning Association
55
Barbados Family Planning Association
Notes to Financial Statements December 31, 2008
(expressed in Barbados dollars)
Total borrowings Less current
2008 $
2007 $
31,889
63,800
(31,889)
(29,358) 34,442
–
The loan of $63,800 (US$32,000) represents a new facility with the IPPF. The loan bears interest at the rate of 12 month LIBOR + 200 basis points variable, which at year end was 7.31%. The loan is repayable over three years in US dollars with a refinancing option.
9
Statement of changes in designated fund balance
56
Provident fund $
Severance fund $
Total $
Fund balance - beginning of year
243,683
34,848
278,531
Interest income on fixed deposits
17,840
1,901
19,741
Transfers from undesignated funds
(16,774)
Fund balance - end of year
244,749
– 36,749
(16,774) 281,498
Barbados Family Planning Association
Notes to Financial Statements December 31, 2008
(expressed in Barbados dollars)
10 Statement of changes in Fixed Assets Fund BDS $ Unrestricted Fund balance - beginning of year Add: Property, plant and equipment purchased during the year Less: Amount released to income during the year
US $
39,822 39,471 (14,843)
19,911 19,736 (7,421)
64,450
32,226
Restricted Fund balance - beginning of year Bequeathed cash donation - Hamilton Estate Bequeathed land donation - Hamilton Estate
51,498 22,600
25,749 11,300
Interest on bequeathed cash donation - Hamilton Estate
74,098 2,900
37,049 1,449
76,998
38,498
141,448
70,724
Fund balance - end of year 11 Insurance
Property, plant and equipment and inventories may be acquired at a reduced cost or donated. The replacement costs have been estimated by the Association and reflected in the insurance policies held by them, with cover effected as follows:
Motor vehicles Furniture and equipment Inventories
BDS $
US $
479,000 182,347 181,405
239,500 91,173 90,702
2008 $
2007 $
424,045 30,337
449,357 30,849
12 Key management compensation
Salaries and allowances National Insurance
57
Barbados Family Planning Association
Notes to Financial Statements December 31, 2008
(expressed in Barbados dollars)
13 Financial risk management a) Financial risk factors
The Association’s activities expose it to a variety of financial risks as follows:
i)
Cash flow and fair value interest rate risk
As the Association has no significant interest bearing assets other than the deposits, the Association’s income and operating cash flows are not significantly dependent on changes in market interest rates.
The interest rates on the deposits at year end was 4.25% - 6.25% (2007 - 5.25% - 6.25%).
The Association is exposed to the effects of fluctuations in interest rates with respect to its borrowings. (Note 8)
ii) Liquidity risk
Management monitors cash and cash equivalents on the basis of expected cash flow. Financial liabilities at the balance sheet date based on the remaining period to maturity were as follows:
Less than 1 year $
Greater than 1 year $
Total $
55,820 37,631
– –
55,820 37,631
93,451
–
93,451
65,509 33,414
– 37,631
65,509 71,045
98,923
37,631
136,554
As at December 31, 2008 Accounts payable and accrued expenses Borrowings
As at December 31, 2007 Accounts payable and accrued expenses Borrowings
58
Barbados Family Planning Association
Notes to Financial Statements December 31, 2008
(expressed in Barbados dollars)
13 Financial risk management …continued a) Financial risk factors …continued iii) Credit risk
Credit risk arises from the Association’s cash and cash equivalents and exposure to customers and donors in the area of outstanding receivables. Cash and deposits are placed with credit worthy international banks.
The credit quality of receivables is assessed in the table shown below:
0 to 6 months More than 6 months
2008 $
2007 $
7,342 –
23,898 4,928
7,342
28,826
No provision for impairment has been considered necessary in 2008 and 2007.
b) Fair values The carrying values of financial assets and liabilities are assumed to approximate fair values due to the short-term nature of these assets and liabilities.
59
Barbados Family Planning Association
Reconciliation to Annual Report
December 31, 2008
| For management information purposes only |
(expressed in Barbados dollars)
BDS $
BDS $ 35,488
Surplus of income over expenses per Annual Report Income Adjustments as of December 31, 2008 Donor Restricted Funds - Strategic plan fund balance Grant Income - IPPF - Re: supplementary commodities Sales Income - Depo Provera/systems entry error
1,486 502 30 2,018
Expenses Adjustments as at December 31, 2008 COGS (In-Kind) - Contraceptives Strategy 2 - Inventory write-off Strategy 2 - Brokerage & Transportation Administration and General Services - Bad debts/write-off
164 (6,887) (502) (3,398)
Administration and general services - Entertainment & Bereavement Surplus of income over expenses per audited accounts
60
(100)
(10,723) 26,783
Fifty-fourth Annual Report 2008
61
Barbados Family Planning Association
62