2015 REPORT FINAL1
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96<br />
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER <strong>2015</strong><br />
NOTES TO THE FINANCIAL STATEMENTS<br />
CHRIST IS THE ANSWER MINISTRIES(CITAM)<br />
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER <strong>2015</strong><br />
2 Assemblies income and expenditure <strong>2015</strong> 2014<br />
Income Expenditure Surplus/ (Deficit) Income Expenditure Surplus/(Deficit)<br />
Kshs Kshs Kshs Kshs Kshs Kshs<br />
Head Office 24,080,723 169,001,238 (144,920,515) 6,810,253 194,875,855 (188,065,602)<br />
CITAM Valley Rd 334,335,042 89,414,614 244,920,428 303,634,456 82,786,284 220,848,172<br />
CITAM Woodley 137,486,740 45,942,043 91,544,697 110,829,928 41,527,902 69,302,026<br />
CITAM Karen 114,817,746 47,980,456 66,837,290 108,573,213 53,708,490 54,864,723<br />
CITAM Parklands 48,120,747 30,885,136 17,235,611 37,467,526 28,012,384 9,455,142<br />
CITAM Kisumu 29,653,660 22,686,965 6,966,695 22,624,566 22,513,971 110,595<br />
CITAM Ngong 60,676,851 32,210,008 28,466,843 43,388,589 30,237,646 13,150,943<br />
CITAM Kiserian 1,215,322 7,103,860 (5,888,538) 897,451 5,524,554 (4,627,103)<br />
CITAM Buruburu 98,946,578 43,416,376 55,530,202 88,159,674 42,755,503 45,404,171<br />
CITAM Thika Rd 90,564,500 36,472,029 54,092,471 72,660,883 30,319,925 42,340,958<br />
CITAM Nakuru 22,432,408 17,683,090 4,749,318 16,938,319 19,049,374 (2,111,055)<br />
CITAM Eldoret 15,535,255 22,368,506 (6,833,251) 7,665,036 19,911,636 (12,246,600)<br />
CITAM Athi River 32,544,509 19,899,420 12,645,089 16,065,017 14,906,533 1,158,484<br />
CITAM Kapsabet 148,304 880,222 (731,918) - - -<br />
CITAM Romania 721,510 2,479,230 (1,757,720) - - -<br />
CITAM USA 5,644,213 18,332,926 (12,688,713) - - -<br />
1,016,924,108 606,756,119 410,167,989 835,714,912 586,130,057 249,584,855<br />
Income Expenditure Surplus/(Deficit) Income Expenditure Surplus/(Deficit)<br />
3 Projects Income and expenditure Kshs Kshs Kshs Kshs Kshs Kshs<br />
NPCA Woodley 69,620,332 45,556,225 24,064,107 61,353,287 54,797,150 6,556,137<br />
NPCA Buruburu Primary 29,005,237 28,073,833 931,404 28,258,966 35,733,603 (7,474,637)<br />
NPCA Buruburu High 31,045,907 34,458,327 (3,412,420) 38,988,850 41,037,447 (2,048,597)<br />
KPC Academy 22,358,384 19,289,109 3,069,275 21,480,255 21,461,109 19,146<br />
NPCA Ngong Kindergaten 7,141,725 3,755,098 3,386,627 4,166,600 3,433,630 732,970<br />
NPCA Nakuru Kindergaten 2,118,905 1,715,101 403,804 230,200 1,719,035 (1,488,835)<br />
NPCA Athi River School 46,400 1,065,507 (1,019,107) - - -<br />
NPCA Eldoret School 1,185,000 1,293,337 (108,337) - - -<br />
NPCA Woodley Transport 6,096,133 5,111,819 984,314 4,303,160 6,261,257 (1,958,097)<br />
NPCA Buruburu Transport 4,452,961 2,982,440 1,470,521 4,220,570 5,013,955 (793,385)<br />
Woodley Catering 13,281,305 6,391,037 6,890,268 15,414,236 13,603,795 1,810,441<br />
Buruburu Catering 8,893,502 6,370,673 2,522,829 12,672,315 7,899,193 4,773,122<br />
Communication 13,616,905 10,654,907 2,961,998 3,816,584 4,989,269 (1,172,685)<br />
Kiserian Farm - - - (520,571) 3,108,486 (3,629,057)<br />
Camp Kadolta 4,527,087 6,731,683 (2,204,596) 3,798,381 6,618,424 (2,820,043)<br />
Carpentry and Tailoring - 801,708 (801,708) 1,376,979 1,322,365 54,615<br />
Catering Valley Road 5,904,244 2,734,780 3,169,464 - - -<br />
Catering Kisumu 3,129,479 985,416 2,144,063 320,471 508,135 (187,663)<br />
222,423,506 177,971,000 44,452,506 199,880,284 207,506,851 (7,626,567)<br />
3.1 Breakdown of the projects expenses<br />
Staff costs 114,238,212 126,810,542<br />
Administrative costs 63,732,788 80,696,309<br />
177,971,000 207,506,851<br />
4 Special Outreach activities<br />
Hope FM 48,866,895 52,663,124 (3,796,229) 48,245,668 63,845,729 (15,600,061)<br />
Hope TV 300,079 6,659,718 (6,359,639) - 5,269,521 (5,269,521)<br />
NPCCC 7,409,700 24,629,627 (17,219,927) 1,622,450 23,029,635 (21,407,185)<br />
56,576,674 83,952,469 (27,375,795) 49,868,118 92,144,885 (42,276,767)<br />
4.1 Breakdown of the outreach expenses<br />
Staff costs 43,540,394 44,427,528<br />
Administrative costs 40,412,075 47,717,357<br />
83,952,469 92,144,885<br />
TOTAL 1,295,924,288 868,679,588 427,244,700 1,085,463,313 885,781,793 199,681,520<br />
<strong>2015</strong> 2014<br />
5 Moving the Ark and Together we can do More Kshs Kshs<br />
Income 50,453,825 96,051,901<br />
Expenditure (4,385,826) (1,707,269)<br />
Construction WIP - CITAM Parklands and Ngong Sanctuaries (81,184,662) (60,250,483)<br />
(35,116,663) 34,094,149<br />
6 Long-term borrowings<br />
Co-operative Bank 164,960,462 198,736,020<br />
NIC Bank - Bus Financing 2,855,578 -<br />
Co-operative Bank- Ark Properties and Investments Limited 178,034,800 214,487,278<br />
345,850,840 413,223,298<br />
(i) Secured liabilities at NIC Bank Limited payable over the next one (1) year. The bank borrowings are secured over the school bus financed by the<br />
borrowings.<br />
(ii) Secured liabilities at Co-operative Bank Limited and the principal is repayable in equal monthly instalments over the next eight (8) years beginning<br />
January 2014. The loan is secured over Kisumu municipality block 10/170 and Karen land block 12409/05 and Parklands land block 209/10810.<br />
CITAM Annual Report and Financial Statements | <strong>2015</strong><br />
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