How do our finances work?
Every six months, or some times a little more frequently, Ed and Ash do an online bank transfer to India, usually around £5000. It takes a few days for the money to travel through the ether before popping up again in India. The money is debited into RBKS's bank account. RBKS are our partner charity and 'project implimentors' (I hate both those words, this is real life and people, not hypotheses on a page, but it is legal jargon), who we find to be very trustworth with our money. Once safely in RBKS's account, our team in India can then withdraw money as it is needed. When the money runs low again, we send more money.
We decide how much money to spend using our budget. Our annual
budget is approximately £12,000. The amount varies depending on how
much we build, how many exposure trips we go on and other such factors.It is steadily going up as we add children and teachers (currently 120 and 8 respectively) and as the pound-rupee exchange rate drops!
Our team in India keep meticulous accounts, down to the last penny. They send a financial report every one, three adn 12 months of all debit and credit, organised into different headers so we can see where we are spending our money. You can download our quarterly reports from this page. We also have annual check from external accountants to make sure everything is in order.
Because we send our money to India in big chunks, and we have no out goings in the UK, you'll notice that our UK annual report has very little finacial detail in it. The detail is all found in our Indian accounts.
Money stats
All donations, ever
£43260.73
Most donations in a month
£7302.1 (September 2008)
Least donations in a month
£35 (December 2009)
Average donations in a month
£1138.44
Distribution of expenditure in Q1 2009
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