Treasurer’s Report

I am pleased to give my second report as the Treasurer ofMIOT. As detailed Financial Statements are attached to the annual report I will just give the highlights of the financial activities of MIOT for the year ended 30 June 2018. The total Income generated in the year ended 30 June 2018 amounts to £235,695 (£110,834 in 2017). The significant increase in the income is attributable to donations by Dr S Rajasundaram towards the Moolai primary care centre development project. Total Expenditure amounts to £233,281 (£119,704 in 2018). The increase is mainly due to the Moolai project. The income generated from membership has remained stable at £10360 (£10280 in 2017). 

The  funds  held  as  at  2018 is   150-,570  (148,156  in  2017)  which  is  adequate  to  meet  that  the current project commitments by MIOT. A detailed breakdown of income and expenditure 1s available on the financial statements attached. I take this opportunity to thank fellow committee members in supporting me in my position as a treasurer. I also thank Sushilan of VS Accountancy for preparing the financial statements and propose we continue with his services for the next year.