MALAW ECONOMICJUSTICE
NETWORK (MEJN}
FINANCIAL STATEMENTS
31 DECEMBER 2018
MALAW] ECONOMIC JUSTICE NETWORK
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2018
Contents
Directors' report 1
Statement of directors' responsibilities 2
lndependent auditor's report 3-6
Statement of income and expenditure 7
Statement of financial position 8
Statement ofchange in funds 9
Statement ofcash flows 10
Notes to the financial statements 71 -ZO
Appendices 27-53
MALAWI ECONOMIC JUSTICE NETWORK
DIRECTORS'REPORT
ON THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2018
The Directors of Malawi Economic Justice Network have pleasure in submitting their report
together with the financial statements for the year ended 31 December 2018.
Business
Malawi Economic Justice Network ("MEJN") is a leading coalition of civil society organizations,
trade unions, faith-based organization, community based organization and professional
associations, among others committed to championing participatory economic governance for
poverty reduction in Malawi. lts core purpose is to create partnerships that will ensure that
Government policies and actions are of direct benefit to the poor. MEJN also aims at creating
sustainability in the civil society organizations policy advocacy programming and for effective
implementation of activities in promot;ng the welfare of the people. lt was formed in November
2OOO, after an initial meeting of 27 civil society organizations seeking to maximize their
involvement in championing the promotion of pro-poor and participatory economic governance
upon Malawi's debt cancellation campaign under the HIPC initiative/Jubilee 2000.
Financial performance
The financial statements of Malawi Economic Justice Network are for the year ended 51 December
2O18. The operating and financial position ofthe Network are set out in the statements offinancial
position, income and expenditure, statements of changes in funds, cash flows and accompanying
explanatory information.
Board of Directors
The following directors served office during the year:
Name Title Period
Bishop Dr Martin Mtumbuka Chairperson Full year
Mr Jeff Kabondo Vice Chairperson Full year
Joana Kaphiri Nkhoma (Mrs) Treasurer Full year
Arnold Mhango Director Fullyear
Dr Thomas Chataghalala Munthali Director Full year
Grace Valera (Mrs) Director Full year
Justice Dr Redson Kapindu Director Full year
Rev lnnocent Chikopa Director Full year
Registered office
Malawi Economic Justice Network
House no. 47 I 4/ 77 6, Area
P.O. Box 20135
LILONGWE 2
1-
MALAWI ECONOMIC JUSTICE NETWORK
DIRECTORS'REPORT
ON THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2018
Bankers
Standard Bank Plc
lndependent auditors
Graham Carr
ADL House
P.O. Box 898
Lilongwe
rli
CHAIRPERSON
,_
MALAWI ECONOMIC JUSTICE NETWORK
STATEMENT OF DIRECTORS' RESPONSIBILITIES
FOR THE YEAR ENDED 51 DECEMBER 2018
The Directors are responsible for the preparation and fair presentation of the financial
statements of Malawi Economic Justice Network, comprising the statement of financial
position as at 31 December 2O18, and the statements of income and expenditure, changes in
funds and cash flows for the year then ended, and the notes to the financial statements which
comprise a summary of significant accounting policies and other explanatory information, in
accordance with the modified cash receipts and disbursement basis ofaccounting,
ln preparing the financial statements the directors accept responsibility for the following:
. maintenance of proper accounting records;
. selection of suitable accounting policies and applying them consistently;
r makingjudgments and estimates that are reasonable and prudent;
. compliance with
applicable Accounting Standards, when preparing financial
statements, subject to any material departures being disclosed and explained in the
fi nancial statements; and
o preparation offinancial statements on a going concern basis unless it is inappropriate
to presume thatthe Network will continue in business.
The Directors also accept responsibility for taking such steps as are reasonably open to them
to safeguard the assets of the Network and to maintain adeguate systems of internal
controls to prevent and detect fraud and other irregularities.
The Directors are of the opinion that the financial statements give a true and fair view of the
state of thgfiErncial affairs ofthe Network and of its operating results and are signed on their
oenarr on f,-. lf. ;.04(9.tI. ?-6.,R sv,
:
CHAIRPERSON EXECUTIVE DIRECTOR
- 3-
O Gratram Carr ADL House, 3rd Floor, City Centre
P.O.Box 898, Lilongwe, Malawi
T et (+2651 01-77 5-7631 01-77 5-7 64
0992 A73 A45l 0992 e73 446
E-mail: lilongwe@grahamcarrmw.com
INDEPENDENT AUDTTOR'S REPORT TO THE DIRECTORS OF
MALAW ECONOMIC JUSTICE NETWORK
ON THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2O18
Qualified Opinion
of Malawi Economic Justice Network, which comprise
We have audited the financial statements
the statement of financial position as at 31 December 2018, and the income statement,
statement of changes in reserves and statement of cash flows for the period then ended, and
notes to the financial statements, including a summary of significant accounting policies.
ln our opinion, except for the possible effect of the matter described in the Easis for Qualified
Opinion paragraph, the financial statements present fairly the financial position of Malawi
Economic Justice Network as at 31 December 2018 and of its financial performance and its cash
flows for the year then ended in accordance with the modified cash receipts and disbursement
basis accounting and the Trustees lncorporation Act, 1962.
Basis for Qualified Opinion
o We have not received confirmations from the following donors for grant income; HIVOS,
Trocaire, UNICEF, OXFAM, SAPSN and World Bank-GPSA amounting to MK12O million.
There were no practical procedures available to us to confirm the completeness of this
income, and accordingly, we were unable to obtain sufficient appropriate audit evidence in
this regard.
o lncluded in general deficit is positive K37 million adjustment which relates to unreconciled
difference on the statement offinancial position. This difference could not be traced to the
accounting records.
We conducted our audit in accordance with lnternational Standards on Auditing {lSAs), Our
responsibilities under those standards are further described in the Auditor's responsibilities for
the audit ofthe financial statements section ofour report. We are independent ofthe Network in
accordance with the lnternational Ethics Standards Board for Accountants' Code of Ethics for
Professional Accountants (IESBA Code) and we have fulfilled our ethical responsibilities in
accordance with the IESBA Code. We believe that the audit evidence we have obtained is
sufficient and appropriate to provide a basis for our opinion.
Matters on which we are required to report by exception
In respect solely of the limitation on our work relating to income,we have not confirmed
completeness of funds received because the funding confirmations have not yet been received
from the donors.
-4-
Tax Advisory
Directors: Cornwell Banda, Dorothy Ngwira Mrs, Victoria Nkhoma Mrs
Graham Carr is E memberfirm ofihe 'Nexia lnternational" network. Nexia lnternatlonal Limited does not deliver serylces in its own name o.
oi$#ifrt oiheNise. Nexia lntern€tlonal Limiled and the member nrms of the Nexl. lnternatlonal network llncludlng those members whlch tr6de under 6 name
whach includes lhe word NEXA are not pan of a worldwide panneBhip. Nexia lnternational Limited does not accept any responsibiljty for the
commisslon olany act, oromission to act by, orlhe liabilities ol any of its members. Each memberlirm within ihe Nexia lntern6tional networl is a
separate legalenliiy.
ADL House. 3rd Floor, City Centre
Q Granam Carr P.O.Box 898, Lilongwe, Malawi
Tel: (+265) 0lZ5-763101-77 5-7 64
0992 873 845/ 0992 873 846
E-mail: Iilongwe@grahamcarrmw,com
INDEPENDENT AUDITOR'S REPORT TO THE DIRECTORS OF
MALAW ECONOMIC JUSTICE NETWORK
ON THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2018
Material of uncertainty Related to Going Concern
We draw attention to Note 15 in the financial statements, which indicates that the Network' has
recorded a deficit of K66 million (2O17: K71 million deficit) and its current liabilities exceeded its tota
current assets by MK78 million as at 31 December 2018. As stated in Note 15 the events along witf
other matters as set forth in note, indicate that a material uncertainty exists that may cast significant
doubt on the Network's ability to continue as a going concern. Our opinion is not modified in respect 01
Othe. matters - limitation of distribution and use
The Network's financial statements have been prepared for the responsible party to meet th€
user's requirements. As a result, the Network's financial statements may not be suitable for other
purPoses.
Our report has been prepared solely for the use ofthe responsible party and the user and shoulc
not be distributed to or used by any other parties.
We have not modified our opinion in respect of this matter.
Responsibilities ofthe Board of Directors and those charged with governance for the financial
statements
The Board of Directors are responsible for the preparation ofthe financial statements that give e
true and fair view in accordance with the modified cash receipts and disbursement basis
accounting and for such internal control as management determines is necessary to enable th€
preparation of financial statements that are free from material misstatement, whether due tc
fraud or error.
ln preparing the financial statements, the Board of Directors are responsible for assessing th€
Network's ability to continue as a going concern, disclosing, as applicable, matters related to going
concern and using the going concern basis of accounting unless the Board of Directors either
intends to liquidate the Network or to cease operations, or has no realistic alternative but to do so.
Those charged with governance are responsible for overseeing the Network's financial reporting
process..
-5-
0 Gratram Carr ADL House, 3rd Floor, City Centre
P.O.Box 898, Lilongwe, Malawi
Tel: (+265) 01-775-7631 01-77 *7 64
0992 473 A45t 0992 873 a46
E-mail: lilongwe@grahamcarrmwcom
INDEPENDENT AUDITOR'S REPORT TO THE DIRECTORS OF
MALAWI ECONOMIC JUSTICE NETWORK
ON THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2018
Auditor's responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a
whole are free from material misstatement, whether due to fraud or error, and to issue an
auditor's report that includes our opinion. Reasonable assurance is a high level ofassurance, but is
not a guarantee that an audit conducted in accordance with lSAs will always detect a material
misstatement when it exists. Misstatements can arise from fraud or error and are considered
material if, individually or in the aggregate, they could reasonably be expected to influence the
economic decisions ofusers taken on the basis ofthese financial statements
As part of an audit in accordance with lSAs, we exercise professional judgment and maintair
professional scepticism throughout the audit. We also:
o ldentify and assess the risks of material misstatement ofthe financial statements, whether
due to fraud or error, design and perform audit procedures responsive to those risks, and
obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion.
The risk of not detecting a material misstatement resulting from fraud is higher than for one
resulting from error, as fraud may involve collusion, forgery, intentional omissions,
misrepresentations, or the override of internal control.
o Obtain an understanding of internal control relevant to the audit in order to design audit
procedures that are appropriate in the circumstances, but not for the purpose ofexpressing
an opinion on the effectiveness ofthe Network's internal control.
. Evaluate the appropriateness of accounting policies used and the reasonableness of
accounting estimates and related disclosures made by the Network.
o Conclude on the appropriateness of the Network's use of the going concern basis of
accounting and based on the audit evidence obtained, whether a material uncertainty exists
related to events or conditions that may cast significant doubt on the Network's ability to
continue as a going concern. lf we conclude that a material uncertainty exists, we are
required to draw attention in our auditor's report to the related disclosures in the financial
statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions
are based on the audit evidence obtained up to the date of our auditor's report. However,
future events or conditions may cause the Network to cease to continue as a going concern.
o Evaluate the overall presentation, structure and content of the financial statements,
including the dasclosures, and whether the financial statements represent the underlying
transactions and events in a manner that achieves a true and fair view.
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]NDEPENDENT AUDITOR'S REPORT TO THE DIRECTORS OF
MALAW ECONOT"IIC JUSTICE NETWORK
ON THE FINANCIAL STATEMENTS
FORTHEYEAR ENDED 31 DECEMBER 2018
Auditor's responsibllities for the audit ofthe financial statements{ Continued}
. Obtain sufficient appropriate audit evidence regarding the financial information of the
entities or business activities within the Network to express an opinion on the financia
statements. We are responsible for the direction, supervision and performance of the audit.
We remain solely responsible for our audit opinion.
We communicate with the management regarding, among other matters, the planned scope and
timing of the audit and significant audit findings, including any significant deficiencies in internal
controlthat we identiry during our audit.
We also provide the Network with a statement that we have complied with relevant ethicai
requirements regarding independence, and to communicate with them all relationships and other
matters that may reasonably be thought to bear on our independence, and where applicable,
related safeguards.
C.o(o"^
Chartered Accountants (Malawi)
Cornwell Banda
Date: 7: tvlareh2o2a
-7 -
Audit Tax Advisory
Directors: Cornwell Banda, Dorothy Ngwira Mrs, Victoria Nkhoma Mrs
Grahan ca isamernberfrmoirhe Nexta lnternarion.l ^etwork. Nexia lnter.ailo nal L ..]ted does nor d eliver seruices iF ils own name or
otheMise Nexia lnternationalLimited and rhe member flrms oilhe Nexa lnt€rnational nelwork (including those members which lrade under a name
O*I;iiiri I
which incrudes ihe $6rd NEXIA)a.e not part ola woidwide partnership. Nexia lnlernalional Lrrniled does nol accept any responsrbiiiv ior the
comm sslon of any act, or omrssion to.c1by, or ihe liabillies ol any of iis orembers. Each mernber Jirm wiihin the Nexra lnternatonalnelwork is a
MALAIA'I ECONOMIC.'USTICE NETWORK
5TATEMENT OF INCOME AND EXPENDITURE
FORTHE YEAR ENDED 31 DECEMBER 2018
Restated
2018 2017
Note MK HK
lncome
Grants utilised 4 764,352,773 315,19s,7sO
Otherlncome 5 277,O44 18,O50
Total income 164,569,820 315,213,800
Expenditure Appendix
MEJN - Administration App I 88,082,040 97,658,477
AFDB - Procurement Project App ll 30,soo 72,OOO
EU/Trocaire App lll 30,930,561 51,573,005
Trocaire - Resource Rights & Resilience App lV 34,59O,O43 53,500
UNICEF 2O17 App v 16,472,6\0 11,050,581
Transparency for Development (T4D) App Vl 6,873,445 22,227,826
World Bank_GPSA AppVll 19,029,430 82,914,63s
World Bank_GPSA SAMI AppVlll 2r,sgr,o7 4
HIVOS Civic Engagement App lX 8.086,421
GIZ Public Finance App x 5,149,315
IBP-Open Budget Survey ApP XI 720,457
UNICEF-2O18 Grant AppXll a,647,067
SAPSIN-Peoples 5ummit2018 AppXlll 4,655,O56
OXFAM - Budget Advocacy Work App XIV 7,576,794
OSISA Launch of Anti-Corruption Report App XV s,222,O87
OSISA Governance Project App XVI 324,O29
Tilitonse Grdnt App XVll 1s 1,682
Trocaire 2014 2015 Grant App XVlll 103,049
Trocaire 2015_2016 Grant App XIX 588,226
Trocaire 201 6-201 7 Grant App XX 52,466,447
Trocaire BudgetAdvocacy Supplementary App XXI 717,808
Trocaire Gender Mainstreaming Project App )O{ll 64,233
UNICEF - Participatory Budgeting App XXIII 123,606
UNICEF2Ol6 Grant AppXX|V 15,711,095
KflA/ App )C(V 21,950,000
Options App Y\Xvl 42,7A8,456
DFID App XXVII 207,177
AFRODAD-CSO AppXXVlll 270,892
lrish Aid App XXlx 6,624
Non State Actors App )fiX 38,O69
ODI lnnovation App )OO(l 539,735
AFROD Extractive App DC(ll 310,871
SundryGrants AppXXXlll 3,989,784
Total expenditure 252,434,872 412,854,222
Deficlt for the year before depreciation (87.864,992) 197,640,422J
Depreciation for the year |.6,777,s461
Deficit for the year (94,036,538) (97,640,422].
The notes on pages 10 to 16 form part ofthese financial statements
Auditors' Report pages 3 to 5
8-
MALAW ECONOMIC JUSTICE NETWORK
STATEMENT OF FINANCIAL POSTflON
AS AT 31 DECEMBER 2018
2018 2017
Notes MK MK
ASSETS
Non current assets
Property, plant and equipment ,4,765,664 48,7 45
Current assets
Project receivables 4.2 7,620,940
Cash and cash equivalents 7 4,653,520 66,304
Total assets 27,039,924 115,O49
FUNDS ANO LIABILITIES
Funds
Capitaltunds I 74,765,464 48,745,142
Accumulated deficit 9 (12s,776,7581 (85,681,661)
Total deficit (110,411,294) (36,956
Current liabilities
Deferred grants 4 s2,934394 105,498,885
Overdrawn bank accounts 7 191,915 6,010,966
Other payables 10 84,324,905 40,476,282
Total current liabilities 737,457,278 151,986
Total funds and liabilities 27 ,039,924 115,O49
The financialstatements were authorised for issue by the Board of Directors.r?----1.:.Q".0 are signed on their behaf by:
1&2.//***/*4 CHAIRPERSON EXECUTIVE DIRECTOR
The notes oo pages 10 to 15 forrn part ofthese frniltcial statements
A,.rditors' Reportpages i to 5
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MALAWI ECONOMIC JUSTICE NETWORK
STATEMENT OF CHANGES IN FUNDS
FOR THE YEAR ENDED 31 DECEMBER 2018
Capital Accumulated Total
funds deficit
MK MK MK
Balance as at 1 January 2017 23,748,382 (8,543,271) 15,205,111
Deficit for the year - (77,138,390) (77,138,390)
Additions during the year 24,996,760 - 24,996,760
Balance as at 1 January 2018 48,745,142 (85,681,661) (36,936,519)
Deficit for the year - (94,036,538) (94,036,538)
Additions during the year 131,800 - 131,800
Disposals duriing the year (17,218,746) - (17,218,746)
Depreciation charge for the year and prior year (16,892,732) 16,892,732 -
Other adjustments - 37,648,709 37,648,709
Balance as at 31 December 2018 14,765,464 (125,176,758) (110,411,294)
The notes on pages 10 to 15 form part of these financial statements
Auditors' Report pages 3 - 5
- 10 -
MALAWI ECONOMIC JUSTICE NETWORK
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 DECEMBER 2018
2018 2017
MK MK
Cash flows from Operating Activities:
Deficit for the year (94,036,538) (97,640,422)
Interest received (1,098) (18,050)
Profit on disposal of assets 215,950 -
Depreciation current year 6,171,546 -
Depreciation prior years 10,721,186 -
Unreconciled difference 37,648,709 -
Net cash out flow flow from operating activities (39,280,245) (97,658,472)
Movement in working capital
Increase in payables 43,848,623 39,822,927
Increase in project receivables (7,620,940) 20,502,032
(Decrease)/increase in deferred Income (52,904,588) 75,188,065
Net Cash flows from Operating Activities (55,957,150) 37,854,552
Cash flows from Investing Activities:
Cash payments to acquire non-current assets (91,800) (11,947,322)
Cash proceeds from disposal of non-current assets 215,950 -
Interest received 1,098 18,050
Net Cash flows from investing activities 125,248 (11,929,272)
Net (decrease)/increase in cash and cash equivalents (55,831,903) 25,925,281
Cash & cash equivalents as at 1 January 2018 60,293,507 34,368,226
Cash & cash equivalents as at 31 December 2018 (Note 7) 4,461,604 60,293,507
The notes on pages 10 to 16 form part of these financial statements
Auditors' Report pages 3 to 5
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MALAWI ECONOMIC JUSTICE NETWORK
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2018
1 REPORTING ENTITY
Malawi Economic Justice Network (''MEJN'') is a coalition of civil society organisation, which has activities in the field economic
governance. Its core purpose is to create partnerships that will ensure that Government policies and actions are of direct benefit to
the poor. Malawi Economic Justice Network also aims at creating sustainability in the civil society organisations and for effective
conduct of activities in promoting the welfare of the people. It was formed in November 2000, after an initial meeting of 27 civil
society organisations seeking to maximize their involvement in economic governance in the wake of the Jubilee 2000 Debt
Cancellation campaign.
Members decides that a network secretariat be established to coordinate their efforts in the economic governance of Malawi. Their
participation on Poverty Reduction Strategy Paper (''PRSP'') formulation process was first on the agenda. He meeting
acknowledged that the background and economic literacy levels of Civil Society Organisation's (''CSO'') in Malawi did not allow
them to constructively participate and engage in economic governance issues and as such the Network should harness their
economic literacy to inform that policy engagement and evidence - based advocacy. MEJN ultimately replaced the Jubilee 2000
movement which was responsible for debt cancellation campaign and had then operated for two years.
2 BASIS OF PREPARATION
The financial statements have been prepared under the cash receipts and disbursements basis of accounting as modified with
receivables and payables. These financial statements are presented in Malawi Kwacha (''MK'') which is the entity's function and
presentation currency.
3 SIGNIFICANT ACCOUNTING POLICIES
3.1 Accounting convention
The financial statements are prepared in terms of the historical cost convention.
3.2 Income
Income mainly represents funding received from various donors and partners to the Network and these funds are accounted for
when received using a deferred income approach, where funds are recorded in the deferred income when received and only
recognised as revenue when they are expensed.
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MALAWI ECONOMIC JUSTICE NETWORK
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2018
SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)
3.3 Expenditure
Expenditure is made in Malawi Kwacha through the various operating bank accounts. Payments are accounted for when incurred
rather than only when paid.
3.4 Foreign currency recognition
Transaction in foreign currencies are translated into the functional currency of the entity ( Malawi Kwacha ) at exchange rates ruling
at he dates of transactions.
Monetary assets and liabilities denominated in foreign currency are translated into the functional currency at the exchange rates
ruling at he reporting date.
Non - monetary items that are measured based on historical cost in foreign currency are translated at the exchange rates ruling at
the date of the transaction.
Foreign currency difference are generally recognised in the income ad expenditure. In the year under review. MEJN transacted in
two major foreign currencies namely the United States Dollars ( USD) and the Euro.
3.5 Plant and equipment
(i) Recognition
Plant and equipment purchased by the network through project funds are expenses in the period of purchase within that project
grant account supporting such purchased. These assets are stated at cost less accumulated depreciation and impairment losses
and are capitalised through capital fund.
The carrying amounts of the Network's tangible assets are reviewed at each reporting period's closing date to determine whether
there is any indication of impairment. If such indication exists, the assets' recoverable amount is estimated. An impairment loss is
recognised whenever the carrying amount if an asset exceeds its recoverable amount. Impairment losses are recognised in the
capital fund.
(ii) Depreciation
Depreciation is charged on straight line basis at rates estimated to write off the assets over their anticipated useful lives. The rates
are as follows:-.
Motor vehicles 5 Years
Computer equipment 3 Years
Fittings and office equipment 4 Years
3.6 Receivables
Receivables are measured at cost. Appropriate allowances for estimated irrecoverable amounts are recognised in income and
expenditure when there is objective evidence that the asset in impaired.
3.7 Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and demand deposits, and other short term highly liquid investments that are
readily convertible to a known amount of cash and are subject to an insignificant risk of changes in value. These are measured at
cost. For the purpose of the statement of cash flows, cash and cash equivalents includes bank overdraft/overdrawn balances.
3.8 Funds
The network has the following funds:
Capital fund - represents carrying value of assets procured under grants. The capital fund is depreciated/amortised on a
systematic basis over the useful life of relevant assets.
Accumulated fund - This represents accumulated surpluses and deficits.
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MALAWI ECONOMIC JUSTICE NETWORK
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2018
SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)
3.9 Payables
Payables are measured at the original invoice amount.
3.10 Grant income and donations
Grant income is recognised when there is reasonable assurance that the Network will comply with the conditions attaching to them
and the grants and donations will be received. Revenue grants are recognised as income over the period necessary to match them
with the related costs that they are intended to compensate. Grants not spent at year end are held as deferred income to be
utilised in future periods. Grants that compensate for the cost of an asset are recognised in the income and expenditure as revenue
on receipt.
Donations in kind are accounted for on receipt from donors and included under other income. In kind donations are measured at fair
value which is the invoice or equivalent market value.
3.11 Other income
This comprises of exchange gains, bank interest, sundry receipts and profit on disposal of fixed assets. These are recognised when
earned.
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MALAWI ECONOMIC JUSTICE NETWORK
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2018
4 INCOME
4.1 GRANTS
Based on actual expenditure 2018 2017
MK MK
Project Grants
Trocaire - Resource Rights & Resilience 34,590,043 53,500
EU/ Trocaire 30,930,561 51,573,005
World Bank_GPSA-SAMI 21,591,074 -
World Bank-GPSA 19,029,430 82,914,635
UNICEF 2017 Grant 16,472,610 13,050,581
UNICEF 2018 Grant 8,647,061 -
HIVOS-CIVIC Engagement 8,086,421 -
OXFAM 7,576,798 -
Transparency for Development (T4D) 6,873,445 22,227,826
GIZ-Public Finance 5,149,315 -
SAPSN 2018 4,655,056 -
IBP-Open Budget Survey 720,457 -
AFDB - Procurement Project 30,500 72,000
AFRODAD - Extractive Taxation Meeting - 310,871
DFID NIS Project - 201,111
Irish Aid (Studies) - 6,624
Non-State Actors (NSA) - 38,069
ODI - Innovation Africa - 539,735
Options - 42,188,456
OSISA Governance Project - 320,029
OSISA Launch of Anti-Corruption Report - 5,222,087
Sundry Grants - 3,989,784
Tilitonse Grant - 151,682
Trocaire 2014_2015 Grant - 103,049
Trocaire 2015_2016 Grant - 588,226
Trocaire 2016_2017 Grant - 52,866,847
Trocaire Budget Advocacy Supplementary - 717,808
Trocaire Gender Mainstreaming Project - 64,233
UNICEF - Participatory Budgeting - 123,606
UNICEF 2016 Grant - 15,711,095
KfW - 21,950,000
AFRODAD - CSO & Parliament Dialogue 210,892
Total 164,352,773 315,195,750
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MALAWI ECONOMIC JUSTICE NETWORK
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2018
4.2 PROJECT RECEIVABLES/DEFERRED GRANTS
Balance at Receipts Payments Project Deferred
Project Grants 01.01.2018 receivables income
MK MK MK MK MK
Action Aid - ECF/ IMF Studies Project
(52,098) - - (52,098) -
Action Aid - Pro-poor Taxation
Project (1,430,073) - - (1,430,073) -
AFDB - Procurement Project 10,642,539 - 30,500 - 10,612,039
EU/ Trocaire 17,870,241 (4,162,126) 13,708,114 - -
EU/Trocaire NCE - 19,311,061 17,222,447 - 2,088,614
FICA (334,380) - - (334,380) -
ODI Liu Lathu Year 5 Main Grant
(438,927) - - (438,927) -
OSISA SAPSN 2013-2015 Support
(1,180,393) - - (1,180,393) -
OSISA Launch of Anti-Corruption
Report 1,644,646 - - 1,644,646 -
SAPSN - 2013 Peoples' Summit
(1,877,340) - - (1,877,340) -
SAPSN - 2018 Peoples' Summit
- 4,292,386 4,655,056 (362,670) -
SAT - Stakeholders Mtg (425,440) - - (425,440) -
SOTU 2016 Grant (41,785) - - (41,785) -
GIZ - Public Finance 2,641,873 - 5,149,315 (2,507,443) -
Hivos - Civic Engagement 5,033,583 3,331,439 8,086,421 - 278,601
Tax Justice Network - Africa (TJN-A)
4,430,469 - - - 4,430,469
Trocaire 2016_2017 Grant 2,499,000 (2,499,000) - - 0
Trocaire - Resource Rights &
Resilience 20,147,952 16,929,691 34,590,043 - 2,487,599
UNICEF 2017 Grant 1,534,752 14,455,252 16,472,610 (482,606) -
UNICEF 2018 Grant - 14,927,600 8,647,061 - 6,280,539
Transparency for Development (T4D)
- 6,741,012 6,873,445 (132,432) -
World Bank- GPSA 44,834,267 116,341 19,029,430 - 25,921,177
World Bank- GPSA SAMI - 22,403,232 21,591,074 - 812,158
OXFAM - 7,600,000 7,576,798 - 23,203
International Budget Partnership(IBP) - 720,457 720,457 - -
Total 105,498,885 104,167,344 164,352,773 (7,620,940) 52,934,398
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MALAWI ECONOMIC JUSTICE NETWORK
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2018
2018 2017
MK MK
5 OTHER INCOME
Bank Interest 1,098 18,050
Asset disposals proceeds 215,950
217,048 18,050
6 PROPERTY, PLANT AND EQUIPMENT
Motor Office Office Photocopier Other Total
vehicles Computer furniture & printers assets
equipment & fittings
MK MK MK MK MK MK
Cost
As at 01/01/2017 6,601,617 11,506,930 1,912,304 2,036,791 1,690,740 23,748,382
Additions 13,750,000 4,796,760 - 950,000 5,500,000 24,996,760
As at 01/01/ 2018 20,351,617 16,303,690 1,912,304 2,986,791 7,190,740 48,745,142
Additions/corrections - 91,800 - 40,000 - 131,800
Disposals (4,491,077) (9,978,083) (1,100,855) (1,019,504) (629,228) (17,218,746)
As at 31/12/2018 15,860,540 6,417,407 811,449 2,007,287 6,561,513 31,658,196
Depreciation
Depreciation charge-
prior years and current
year 7,381,371 4,290,694 811,450 1,413,538 2,995,679 16,892,732
As at 31/12/2018 7,381,371 4,290,694 811,450 1,413,538 2,995,679 16,892,732
As at 31 Dec 18 8,479,169 2,126,713 - 593,749 3,565,834 14,765,464
As at 31 Dec 17 20,351,617 16,303,690 1,912,304 2,986,791 7,190,740 48,745,142
Property, Plant and Equipment were not depreciated in the previous years. Previous assets with more than estimated useful life
have been recognised in the financial statements at nil carrying amount as they have been assumed as fully depreciated. However,
previous assets with some estimated useful life and additions in the year under review have been depreciated.
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MALAWI ECONOMIC JUSTICE NETWORK
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2018
2018 2017
MK MK
7 CASH AND CASH EQUIVALENTS
NBS Bank Main Current Account 1,914,158 20,548,252
NBS Bank Staff Welfare Account 2,658 1,353,461
Std Bank Main Current Account 406,694 12,028,455
Std Bank AFDB Current Account - 37,497
Std Bank GPSA Current Account 87,916 2,682,370
Std Bank GPSA FCD Account 3,651 18,413,495
Std Bank USD FCD Account 2,074 9,703,449
Std Bank Euro FCD Account 21,248 22,329
Std Bank AFDB FCD Account 3,190 669,358
Std Bank EU/Trocaire Current Account 715,378 -
Std Bank Social Forum Current Account 469,498 -
Std Bank MEJN Funds Account 137,557 -
Petty cash 29,000 46,199
CDHAM Fixed Deposit 860,500 799,607
Total cash and cash equivalents 4,653,520 66,304,473
NBS Bank Admin Current Account (81,815) (15,503)
Std Bank Social Forum Current Account - (702,382)
Std Bank EU/Trocaire Current Account - (4,596,514)
Std Bank Salaries Current Account (110,100) (696,567)
Total overdrawn bank balances (191,915) (6,010,966)
Grand Total cash and cash equivalents 4,461,604 60,293,507
The Network did not have a formal overdraft facility with the Banks. The overdrawn position is merely a book balance.
8 CAPITAL FUND
Opening balance 48,745,142 23,748,382
Additions 131,800 24,996,760
Disposed assets (17,218,746) -
Depreciation charge- Current year (6,171,546) -
Depreciation charge- prior periods (10,721,186) -
Closing balance 14,765,464
- 48,745,142
9 ACCUMULATED DEFICIT
Opening balance (85,681,661) (8,543,271)
Deficit for the year (94,036,538) (97,640,422)
Transfer from capital fund from prior periods 10,721,186 20,502,032
Transfer from capital fund for current year 6,171,546 -
Other adjustments 37,648,709 -
Closing balance (125,176,758) (85,681,661)
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MALAWI ECONOMIC JUSTICE NETWORK
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2018
2018 2017
MK MK
10 PAYABLES
PAYE Payables 40,703,523 24,123,141
Pension Payables 26,430,261 15,497,173
Gratuity Payable - 799,607
Staff Welfare Contributions Funds 235,850 56,361
Salaries Arrears Payables 11,517,412 -
Dealth benefits 860,500 -
Funeral policy 83,100 -
Withholding tax 3,046,659 -
Insurance payable 1,447,600 -
84,324,905 40,476,282
11 PROJECT ACTIVITIES
These relate to project activities carried out by the Network during the year on the individual donor accounts.
12 CAPITAL COMMITMENTS
There were no capital commitments as at 31 December 2018. (Nil: 2017)
13 CONTINGENT LIABILITIES
There were no contingent liabilities as at 31 December 2018. (Nil: 2017)
14 SUBSEQUENT EVENTS
Subsequent to the reporting date no events have occurred necessitating disclosure or adjusting the financial statements.
15 GOING CONCERN
The Network has registered a deficit of MK66.9m (2017: MK77.1m ) as at 31 December 2018. The Networks ability to continue as a
going concern is dependent on the continued support from its donors.
The Network has already taken some remedial measures which include the following:
• Towards the last quarter of the year 2018 MEJN reduced its number of employees after certain projects phased out. A decision
was made to maintain just key members of staff in the Programmes Department contrary to other years when the department
had huge number of employees. The monthly salaries was one major channel for these losses.
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MALAWI ECONOMIC JUSTICE NETWORK
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2018
GOING CONCERN (CONTINUED)
• MEJN derives its income through a standard procedure of factoring in certain agreed percentages with the donors, at the
inception of each project, in the funding proposals that we submit. This becomes the very reliable source of income to cover all
administrative core costs. We have currently engaged in an aggressive fundraising and resource mobilisation drive and have
submitted several project proposals for funding to various donors and we are hopeful that during the first quarter of the year
2019 most donors will start funding these projects. Some of the projects are long term going up to five years, we estimate to
have excess funds from some of these projects. These excess funds will not only help us clear the losses but will also enable
MEJN to cover all its core costs going forward thereby eradicating the need of further borrowing of donor funds. The issue of
potential donors is explained further below.
• relevance is still very strong and an appealing position and goodwill. For the past years MEJN has proved to be a relevant
institution to the country policy making processes due to its pro-poor policy advocacy drive. MEJN has made massive
contributions to different policy making processes for both Government institutions and Non-governmental organisations
including National Budgetary issues.
• This gives MEJN the leverage to woo donors to support its cause and strongly believe we will have increased support from
international donor community for a foreseeable future. As detailed in point two above through the donor support MEJN will be
able to operate using the core costs support in the donor projects without further borrowing.
16 EXCHANGE RATE AND INFLATION
The average of the year-end buying and selling rates of the major foreign currencies affecting the performance of the organisation
are stated below, together with the increase in the National Consumer Price Index, which represent an official measure of inflation.
2018 2017
Kwacha/US Dollar 725 724
Kwacha/Euro 835 768
Inflation rate 9.9% 9.3%
At the time of signing the financial statements the exchange rates were as
follows:-
Kwacha/US Dollar 1,028 724
Kwacha/Euro 1,132 854
- 20 -
MALAWI ECONOMIC JUSTICE NETWORK
APPENDICES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2018
The following pages do not form
part of the financial statements
MALAWI ECONOMIC JUSTICE NETWORK
MEJN PROPER
APPENDICES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2018
Appendix I
INCOME STATEMENT
2018 2017
MK MK
Income
Other income 217,048 18,050
Total income 217,048 18,050
Expenditure
Bank charges 637,190 321,657
Consultancy 1,933,333 -
Exchange loss 23,728 -
Funeral policy 324,800 -
International travel 50,000 -
Internet & emails 2,142,154 2,960,395
Licences and Fines 676,240 64,000
Lunch Allowances - 2,500
M/V fuel & oils 1,166,218 3,604,195
M/V hire costs 2,747,294 864,030
M/V insurance 341,763 1,104,838
M/V maintenance 3,616,550 4,608,408
Motor vehicle purchase - 13,750,000
Office equipment repairs & maintenance 2,192,027 439,271
Office rentals & utilities 7,972,890 5,202,640
Office Teas and Cleaning 381,692 290,638
Personnel costs 59,527,024 58,156,306
Postage 109,500 183,487
Printing & stationary 440,713 499,608
Programme costs - 1,880,800
Security 2,124,388 2,250,000
Staff Welfare 49,500 599,500
Team building/staff 1,504,535 -
Telecommunication/ Airtime 120,500 876,202
Total expenditure 88,082,040 97,658,471
(Deficit) for the year before depr. (87,864,992) (97,640,421)
Depreciation for the year 6,171,546 -
(Deficit) for the year (94,036,538) (97,640,421)
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MALAWI ECONOMIC JUSTICE NETWORK
AFDB - PROCUREMENT PROJECT
APPENDICES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2018
Appendix II
2018 2017
MK MK
Income
Opening balance 10,642,539 10,714,539
Grant received - -
Total income 10,642,539 10,714,539
Expenditure
Administration costs 30,500 72,000
Total expenditure 30,500 72,000
Surplus for the year 10,612,039 10,642,539
Represented by:
Standard Bank AfDB 3,321,695 3,352,195
Standard Bank USD AfDB 7,290,343 7,290,343
10,612,039 10,642,539
- 22 -
MALAWI ECONOMIC JUSTICE NETWORK
FOR EUROPEAN UNION/TROCAIRE - IMPROVED LOCAL GOVERNANCE AND
COMMUNITY ACTION IN MALAWI
APPENDICES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2018
Appendix III
2018 2017
MK MK
Income
Opening balance 17,870,241 15,615,302
Grant received 15,148,409 51,617,467
Other income 526 2,210,476
Total income 33,019,175 69,443,246
Expenditure
Personnel costs 13,086,263 8,129,662
Administration costs 404,343 3,426,402
Programme costs 17,439,955 40,016,940
Total expenditure 30,930,561 51,573,005
Surplus for the year 2,088,614 17,870,241
Represented by:
Standard Bank Eu/Trocaire 2,088,614 17,870,241
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MALAWI ECONOMIC JUSTICE NETWORK
TROCAIRE - RESOURCE RIGHTS & RESILIENCE
& IMPLEMENTATION PROCESSES IN MALAWI
APPENDICES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2018
Appendix IV
2018 2017
MK MK
Income
Opening balance 20,147,952
Grant received 14,428,692 20,200,368
Other income 1,999 1,084
Transfer from Trocaire 2016-2017 grant 2,499,000
Total income 37,077,643 20,201,452
Expenditure
Personnel costs 5,510,009 -
Administration costs 6,397,287 53,500
Programme costs 22,682,747 -
Total expenditure 34,590,043 53,500
Surplus for the year 2,487,599 20,147,952
Represented by:
NBS Bank Main Account 2,487,599 20,147,952
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MALAWI ECONOMIC JUSTICE NETWORK
UNICEF - 2017 GRANT
APPENDICES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2018
Appendix V
2018 2017
MK MK
Income
Opening balance 1,534,752 -
Grant received 14,454,104 14,584,270
Other income 1,148 1,063
Total income 15,990,004 14,585,333
Expenditure
Personnel costs - 1,262,500
Administration costs 68,348.51 1,018,232
Programme costs 16,404,261 10,769,849
Total expenditure 16,472,610 13,050,581
(Deficit)/surplus for the year (482,606) 1,534,752
Represented by:
Standard Bank Social Forum Account (482,606) 1,534,752
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MALAWI ECONOMIC JUSTICE NETWORK
TRANSPARENCY FOR DEVELOPMENT
APPENDICES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2018
Appendix VI
2018 2017
MK MK
Income
Grant received 22,025,832 22,227,501
Other income - 325
Transfer sundry receipts (15,152,388) -
Total income 6,873,445 22,227,826
Expenditure
Personnel costs - 4,695,000
Administration costs - 1,373,665
Programme costs 6,781,645 14,686,801
Capital expenditure 91,800 1,472,360
Total expenditure 6,873,445 22,227,826
Surplus for the year - -
- 26 -
MALAWI ECONOMIC JUSTICE NETWORK
WORLD BANK - GLOBAL PARTNESHIP FOR SOCIAL ACCOUNTABILITY
APPENDICES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2018
Appendix VII
2018 2017
MK MK
Income
Opening balance 44,834,267 560,430
Grant received - 126,702,614
Other income 18,266 485,859
Exchange gain 98,075
Total income 44,950,608 127,748,902
Expenditure
Personnel costs - 26,468,635
Administration costs 52,601 3,074,236
Programme costs 18,976,829 53,371,764
Total expenditure 19,029,430 82,914,635
Surplus for the year 25,921,177 44,834,267
Represented by:
Standard Bank GPSA Account 20,874,243 26,420,772
Standard Bank GPSA USD FCD Account 5,046,934 18,413,495
25,921,177 44,834,267
- 27 -
MALAWI ECONOMIC JUSTICE NETWORK
WORLD BANK - GLOBAL PARTNESHIP FOR SOCIAL ACCOUNTABILITY (SAMI)
APPENDICES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2018
Appendix VIII
2018 2017
MK MK
Income
Grant received 22,403,232 -
Total income 22,403,232 -
Expenditure
Programme costs 21,591,074 -
Total expenditure 21,591,074 -
Surplus for the year 812,158 -
Represented by:
Standard Bank GPSA Account 812,158 -
- 28 -
MALAWI ECONOMIC JUSTICE NETWORK
HIVOS - CIVIC ENGAGEMENT
APPENDICES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2018
Appendix IX
2018 2017
MK MK
Income
Opening balance 5,033,583 -
Grant received 3,331,439 5,033,583
Total income 8,365,022 5,033,583
Expenditure
Personnel costs 1,932,000 -
Administration costs 794,700 -
Programme costs 5,359,721 -
Total expenditure 8,086,421 -
Surplus for the year 278,601 5,033,583
Represented by:
Standard Bank USD FCDA Account 278,601 26,420,772
- 29 -
MALAWI ECONOMIC JUSTICE NETWORK
GIZ - PUBLIC FINANCE
APPENDICES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2018
Appendix X
2018 2017
MK MK
Income
Opening balance 2,641,873 -
Grant received - 2,641,873
Total income 2,641,873 2,641,873
Expenditure
Personnel costs 1,920,000 -
Administration costs 456,000 -
Programme costs 2,773,315 -
Total expenditure 5,149,315 -
Deficit for the year (2,507,443) 2,641,873
Represented by:
Standard Bank USD FCDA Account - 2,641,873
- 30 -
MALAWI ECONOMIC JUSTICE NETWORK
INTERNATIONAL BUDGET PARTNERSHIP (IBP)-OPEN BUDGET SURVEY
APPENDICES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2018
Appendix XI
2018 2017
MK MK
Income
Grant received 720,457 -
Total income 720,457 -
Expenditure
Programme costs 720,457 -
Total expenditure 720,457 -
Surplus for the year - -
- 31 -
MALAWI ECONOMIC JUSTICE NETWORK
UNICEF 2018 GRANT
APPENDICES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2018
Appendix XII
2018 2017
MK MK
Income
Grant received 11,829,561 -
Total income 11,829,561 -
Expenditure
Programme costs 8,647,061 -
Total expenditure 8,647,061 -
Surplus for the year 3,182,500 -
Represented by:
Standard Bank Social Forum Account 3,182,500 -
- 32 -
MALAWI ECONOMIC JUSTICE NETWORK
SAPSN-PEOPLES'S SUMMIT 2018
APPENDICES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2018
Appendix XIII
2018 2017
MK MK
Income
Grant received 4,655,056 -
Total income 4,655,056 -
Expenditure
Administration costs 39,281 -
Programme costs 4,615,775 -
Total expenditure 4,655,056 -
Surplus for the year - -
- 33 -
MALAWI ECONOMIC JUSTICE NETWORK
OXFAM - BUDGET ADVOCACY WORK
APPENDICES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2018
Appendix XIV
2018 2017
MK MK
Income
Grant received 7,576,798 -
Total income 7,576,798 -
Expenditure
Programme costs 7,576,798 -
Total expenditure 7,576,798 -
Surplus for the year - -
- 34 -
MALAWI ECONOMIC JUSTICE NETWORK
OSISA - LAUNCH OF ANT-CORRUPTION REPORT
APPENDICES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2018
Appendix XV
2018 2017
MK MK
Income
Opening balance 1,644,646
Grant received - 6,866,734
Total income 1,644,646 6,866,734
Expenditure
Programme costs - 5,222,087
Total expenditure - 5,222,087
Surplus for the year 1,644,646 1,644,646
Represented by:
Standard Bank USD FCD Account 1,644,646 1,644,646
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MALAWI ECONOMIC JUSTICE NETWORK
OSISA - PRO-POOR AND GOOD GOVERNANCE PROJECT GRANT
APPENDICES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2018
Appendix XVI
2018 2017
MK MK
Income
Opening balance - 320,029
Total income - 320,029
Expenditure
Programme costs - 320,029
Total expenditure - 320,029
(Deficit) for the year - -
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MALAWI ECONOMIC JUSTICE NETWORK
TILITONSE FUND - PROMOTING PUBLIC BUDGET TRANSPARENCY AND
ACCOUNTABILITY IN MALAWI
APPENDICES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2018
Appendix XVII
2018 2017
MK MK
Income
Opening balance - 151,682
Total income - 151,682
Expenditure
Programme costs - 151,682
Total expenditure - 151,682
Surplus for the year - -
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MALAWI ECONOMIC JUSTICE NETWORK
TROCAIRE 2014-2015 GRANT - CAPACITY ENHANCEMENT FOR LOCAL
STAKEHOLDERS' EFFECTIVE PARTICIPATION IN PRO-POOR POLICY FORMULATION
& IMPLEMENTATION PROCESSES IN MALAWI
APPENDICES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2018
Appendix XVIII
2018 2017
MK MK
Income
Opening balance - 103,049
Total income - 103,049
Expenditure
Personnel costs -
Administration costs - 7,500
Programme costs - 95,549
Total expenditure - 103,049
Deficit for the year - -
- 38 -
MALAWI ECONOMIC JUSTICE NETWORK
TROCAIRE 2015-2016 GRANT - CAPACITY ENHANCEMENT FOR LOCAL
STAKEHOLDERS' EFFECTIVE PARTICIPATION IN PRO-POOR POLICY FORMULATION
& IMPLEMENTATION PROCESSES IN MALAWI
APPENDICES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2018
Appendix XIX
2018 2017
MK MK
Income
Opening balance - 588,226
Total income - 588,226
Expenditure
Programme costs - 588,226
Total expenditure - 588,226
Deficit for the year - -
- 39 -
MALAWI ECONOMIC JUSTICE NETWORK
TROCAIRE 2016-2017 GRANT - CAPACITY ENHANCEMENT FOR LOCAL
STAKEHOLDERS' EFFECTIVE PARTICIPATION IN PRO-POOR POLICY FORMULATION
& IMPLEMENTATION PROCESSES IN MALAWI
APPENDICES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2018
Appendix XX
2018 2017
MK MK
Income
Grant received - 55,360,000
Other income - 5,847
Total income - 55,365,847
Expenditure
Personnel costs - 7,497,313
Administration costs - 2,595,504
Programme costs - 42,774,029
Total expenditure - 52,866,847
Surplus for the year - 2,499,000
Represented by:
NBS Bank Main Account - 2,499,000
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MALAWI ECONOMIC JUSTICE NETWORK
TROCAIRE BUDGET ADVOCACY SUPPLEMENTARY PROJECT
APPENDICES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2018
Appendix XXI
2018 2017
MK MK
Income
Opening balance - 717,808
Total income - 717,808
Expenditure
Programme costs - 717,808
Total expenditure - 717,808
Surplus for the year - -
- 41 -
MALAWI ECONOMIC JUSTICE NETWORK
TROCAIRE - GENDER MAINSTREAMING PROJECT
APPENDICES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2018
Appendix XXII
2018 2017
MK MK
Income
Opening balance - 64,233
Total income - 64,233
Expenditure
Programme costs - 64,233
Total expenditure - 64,233
Deficit for the year - -
- 42 -
MALAWI ECONOMIC JUSTICE NETWORK
UNICEF - PARTICIPATORY BUDGETING
APPENDICES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2018
Appendix XXIII
2018 2017
MK MK
Income
Opening balance - 123,606
Total income - 123,606
Expenditure
Programme costs - 123,606
Total expenditure - 123,606
(Deficit) for the year - -
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MALAWI ECONOMIC JUSTICE NETWORK
UNICEF - PARTICIPATORY BUDGETING THROUGH LOCAL GOVERNMENTS IN
MALAWI
APPENDICES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2018
Appendix XXIV
2018 2017
MK MK
Income
Opening balance - 26,788,251
Other income - 7,118
Unspent funds refund - (11,084,274)
Total income - 15,711,095
Expenditure
Administration costs - 18,524
Programme costs - 15,692,572
Total expenditure - 15,711,095
Surplus for the year - -
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MALAWI ECONOMIC JUSTICE NETWORK
KFW
APPENDICES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2018
Appendix XXV
2018 2017
MK MK
Income
Grant received - 21,950,000
Total income - 21,950,000
Expenditure
Programme costs - 13,550,000
Capital expenditure - 8,400,000
Total expenditure - 21,950,000
(Deficit) for the year - -
- 45 -
MALAWI ECONOMIC JUSTICE NETWORK
OPTIONS CONSULTANCY - MALAWI HEALTH SECTOR PROGRAMME - TECHNICAL
ASSISTANCE (MHSP - TA)
APPENDICES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2018
Appendix XXVI
2018 2017
MK MK
Income
Opening balance - -12,193,812
Grant received - 38,044,385
Other income - 16,337,882
Total income - 42,188,456
Expenditure
Personnel costs - 9,707,000
Administration costs - 2,741,439
Programme costs - 27,665,055
Capital expenditure - 2,074,962
Total expenditure - 42,188,456
(Deficit) for the year - -
- 46 -
MALAWI ECONOMIC JUSTICE NETWORK
FOR DFID - NATIONAL INTEGRITY SYSTEMS SUPPORT PROGRAMME
APPENDICES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2018
Appendix XXVII
2018 2017
MK MK
Income
Opening balance - 201,111
Grant received - -
Total income - 201,111
Expenditure
Personnel costs - -
Administration costs - -
Programme costs - 201,111
Total expenditure - 201,111
Surplus for the year - -
Represented by:
Standard Bank DFID NIS Account - 307,361
Standard Bank Main Account - (106,250)
- 201,111
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MALAWI ECONOMIC JUSTICE NETWORK
AFRODAD - CSO & PARLIAMENTDIALOGUE CONFERENCE
APPENDICES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2018
Appendix XXVIII
2018 2017
MK MK
Income
Opening balance - 210,892
Total income - 210,892
Expenditure
Programme costs - 210,892
Total expenditure - 210,892
Surplus for the year - -
Represented by:
Standard Bank Main - (241,959)
Standard Bank Christian Aid - 452,851
- 210,892
- 48 -
MALAWI ECONOMIC JUSTICE NETWORK
IRISH AID - SUPPORT ON STUDIES
APPENDICES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2018
Appendix XXIX
2018 2017
MK MK
Income
Opening balance - 6,624
Total income - 6,624
Expenditure
Programme costs - 6,624
Total expenditure - 6,624
Surplus for the year - -
- 49 -
MALAWI ECONOMIC JUSTICE NETWORK
NON - STATE ACTORS (NSA): CAPACITY STRENGTHENING SUPPORT
APPENDICES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2018
Appendix XXX
2018 2017
MK MK
Income
Opening balance - 38,069
Total income - 38,069
Expenditure
Programme costs - 38,069
Total expenditure - 38,069
Surplus for the year - -
- 50 -
MALAWI ECONOMIC JUSTICE NETWORK
OVERSEAS DEVELOPMENT INSTITUTE (ODI): INNOVATION AFRICA GRANT
APPENDICES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2018
Appendix XXXI
2018 2017
MK MK
Income
Opening balance - 539,735
Grant received - -
Total income - 539,735
Expenditure
Programme costs - 539,735
Total expenditure - 539,735
Surplus for the year - -
- 51 -
MALAWI ECONOMIC JUSTICE NETWORK
AFRODAD - NATIONAL PLATFORM MEETING ON EXTRACTIVE TAXATION
APPENDICES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2018
Appendix XXXII
2018 2017
MK MK
Income
Opening balance - 310,871
Grant received - -
Total income - 310,871
Expenditure
Programme costs - 310,871
Total expenditure - 310,871
Surplus for the year - -
- 52 -
MALAWI ECONOMIC JUSTICE NETWORK
SUNDRY GRANTS
APPENDICES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2018
Appendix XXXIII
2018 2017
MK MK
Income
Opening balance - -1,252,533
Grant received - 5,242,317
Total income - 3,989,784
Expenditure
Programme costs - 3,989,784
-
Total expenditure - 3,989,784
Deficit for the year - -
- 53 -