BONABOTO EDUCATION ASSISTANCE FUND
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 ST DECEMBER 2006
INCOME AND EXPENDITURE ACCOUNT
				NOTES	2005		2006
INCOME
Donations					56,176,750		200,737,075
Sale of T/shirts					6,930,000		0
Profit from dinner dance				1	1,030,000		27,317,000
Silver Collections(dinner Dance -Bolga)				2	792,000		1,649,000
Investment Income				3	8,112,500		28,362,500
					73,041,250		258,065,575
Less Expenditure
Purchase of Union Regalia					0	0
Bank Charges					1,082,500.00	1,390,140
Payment of allowances to Beaf assistant				4	1,800,000.00	1,800,000
					2,882,500.00		3,190,140
Excess Income over Expenditure					70,158,750		254,875,435
BALANCE SHEET AS AT 31 DECEMBER,2006
INVESTMENT				5	100,000,000		370,000,000
CURRENT ASSETS
Stock					5,200,000		5,200,000
Debtors					0		0
Bank Balance					41,369,575		30,440,935
Cash on hand					5,095,925		900,000
					51,665,500		36,540,935
LESS CURRENT LIABILITIES
NETWORTH					151,665,500		406,540,935
FINANCED BY
ACCUMULATED FUND					81,506,750		151,665,500
ADD; EXCESS INCOME OVER EXPENDITURE					70,158,750		254875435
					151,665,500		406,540,935
	BONABOTO EDUCATION ASSISTANCE FUND
	NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR
	ENDED 31ST DECEMBER 2006
	1)	This represents excess income realised from National BEAF launch organised in
		September,2006 at Aviation Social Centre in Accra.
	2)	This is the total amount realised from Silver Collections at an End-of-year Get- together of AccraTema Branch.
	3)	This is the total income realised fromInvestments as follows.
		a) Income from Treasury Bills				13,862,500
		b) Income from Merchant Bank anniversary Investemnt promotion				14,500,000
						28,362,500
	4)	This is an expenditure spent on an assistant recruited by Management Committee
		to follow up pledges for three months during the year under review.
	5)	This is the sum total of Investments made during the year under review.
	These notes are an integral part of the Financial Statement and should be read as such.
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