Beruflich Dokumente
Kultur Dokumente
You may find links to the 2009, 2008 and 2007 accounts here:
www.zamcog.org.uk/doc/accounts
Administrative costs are kept extremely low (below 2%) as there is little overhead in the Fundraising £34.71
UK (payment of legal fees, bank fees, web site fees, but little else). There is no paid staff School ops, Capital items £25,861.10
in the UK and no office to maintain. We sent several containers to Zambia in the early Construction £21,299.96
days as we received donations of large items like freezers, desks, office furniture etc. We Total £48,454.06
Fundraising costs are primarily those related to fundraising events we have hosted and
they represent less than 15 % of funds raised. To date, over 40% of funds expended have
gone to building the physical infrastructure of the school, dormitories, dining hall/kitchen
complex, ablutions, etc.
While Zambia is largely a cash based economy, we have been transitioning to making as
many payments as possible by cheque, where practical. All payments are tracked by our
onsite bookkeeper and receipts are filed. Then a summary Expenditure statement is sent
to the trustees in the UK monthly.
All bank transactions require two authorized signatories. The bookkeeper does not have
signing authority on the bank accounts so his recording of all transactions is independent.