COMPASSION RESPONSE NETWORK

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CRN FINANCIAL STATEMENT 23/December/2002 to 30/June/2003

Compassion Response Network was officially registered as an Australian public company with charitable objectives on 23/December/2002. We shall not consider accounts before that date.

Income 23/Dec/02 to 30/June/03

General Donations to CRN fund = AUD$2,867.34 (about US$1,800)
Total Income = AUD$2,867.34

Expenditure 23/Dec/02 to 30/June/03

Postage AUD$43.30
Central office expenses AUD$31.60
Electrical devices AUD$91.00
Transfer money to Harare AUD$1,171.00
International transfer fees AUD$95.00
Website registration AUD$449.00
Auditor fee AUD$400.00
Corporations fee AUD$36.00
Total Expenditure
 AUD$2,316.90 (about US$1,455)

Surplus for Year

Net Surplus 23/Dec/02 to 30/June/03 = AUD$550.44 (about US$345)

Besides central administrative costs, two main areas of charitable support were facilitated during this period;

    1. Electrical devices: a colloidal silver maker was constructed for Joseph Bile in Ivory Coast and another constructed that has since been sent with a zapper to Bonaventure in Sierra Leone.

    2. We were able to send money for Geraldene (our Harare coordinator) to purchase essential equipment in preparation for the Harare trials. She went to South Africa in April/May/03 where she purchased a second hand computer set (Rand 3,228.50), printer ink (Rand 201.06), cell phone (Rand 850.00) for a total of Rand 4,279.56 (about US$590). Also three months wages at US$30 a month for Jack Makonye, who acted as office assistant to PNI offices in Harare. All these expenses were in line with the Harare project forward estimates. As of 30th/June the Harare project held a net surplus of US$53.40, of the AUD$1,171.00 sent over for the Harare project.

The CRN bank balance as of 30/July/03 stood at AUD$828.74.

The computer and office equipment that were sent for initial expenditures in the Harare project were in line with the projected cost estimates for the Harare project. That project could not get underway because of inadequate funding. Since July however, with the total collapse of the Zimbabwe economy, our Inner Planning Circle has decided to put all further funding for the Harare project on hold, and to give priority to fund the Kinshasa Imusil project commencing 7th/January/2004.

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