Moxafrica's Financial Overview

       Contents:             Part 1 - Current Statement of Accounts

                                            Part 2 - Projected Budget

Part 1

Moxafrica registered as a charity on 24th February 2009. As such it is referred by the UK Charity Commission as a "recently founded" charity without any information being made publicly available from the Commission until March 2011. The trustees do not consider this as being helpful to potential funders, and for this reason we are publishing below the final draft of the financial statement which will be submitted to the Charity Commission subject to and following its anticiapted approval by the trustees at their meeting on 7th September 2010. It covers the period 24th February 2009 (when the charity was legally registered) up until June 30th 2010 (which is the final day of the Moxafrica accounting period)

INCOME

                      Grants                                     5000  

                      Private Donations                 4310    

                      Workshop Income                1840

                      Card sales                             1271

                      Organisation donations       2729

                      Company donations               423   

                                                                      15,573                                                             15,573 

EXPENDITURE

                     Translation costs                         1737

                     Research material                           35

                     Moxa etc                                         1947

                     Publicity material                            427

                     Card costs                                       550

                     Stationary and postage                 107

                     Training costs                                 295

                     Project cost (Uganda 1)              7178

                     Travel in UK                                     254  

                                                                           12,530                                                  (12,530)

                                                                      Balance (30/6/10)     £ 3,043

It will be noted immediately that both income and expenditure has been necessarily modest. Funding has been far harder to obtain than we had anticipated.

We would also, however, ask each reader to note how carefully we have spent the moneys used within this accounting period:

Promotion and publicity account for only 8% of the total expenditure.

Activities indirectly pursuing the charity's aims(*) account for 18%

Activities directly pusuing the charity's aims accounts for 74% of the charity's costs, something which the trustees consider exceptionally good use of the income that has been available.

(* “Activities indirectly pursuing the charities aims” are implicitly debatable costs. In this instance they include the costs of the preliminary research including translation costs of Japanese research articles, requisite training of trustees in specific enabling skills, and costs of measuring equipment for temperature calculations. All of these have been vital for the early development of the charity and investigative strategies, and could thus actually arguably have been also defined as activities which directly pursue the charity's aims.)

Part 2 - Projected Budget 2010-11 

Since the end of the accounting period reported above, there has been further expenditure on the Kampala project, and the charity's commitment to maintaining this programme is absolute. 

Beyond this, a parallel scoping study is planned for at least one other location in Africa. Currently we have been invited to collaborate in a project in Nyanga Township Capetown. Capetown is right at the heart of the epidemic of African drug resistance, so we consider the location to be particularly attractive in terms of the charity's aims.

Building from the progress of this planned initiative, in the next twelve to eighteen months the development and design of a rigorous research study is anticipated in collaboration with a university in South Africa. The university we have targeted is In Capetown making the Capetown connection doubly important.

Budgetting has proved trying at best, and we have been forced to plan and implement activities directly dependant upon the charity's fluctuating fortunes in terms of income.

Realistically we cannot foresee keeping the costs of maintaining the Kampala project to less than £1000 per month. With the expenses in Capetown anticipated to be higher than those of Kampala, and with so many unknowns in terms of inflationary pressures from airfares etc, we anticipate that the costs in Capetwon will be difficult to contain below £1500 per month.

This will make the total budget for the accounting period 2010-2011 in terms of activities directly pursuing the charity's aims at around £30,000. The proportional percentage of this cost compared to the overall cost of running the charity (which was 74% during the period reported above) is planned to be as high as 85% for the current year,  rendering the charity's activies even more cost effective.

This would result in a total planned expenditure budget of £35,294 for the current year.

It correspondingly requires an income of around £3000 per month. 

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