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An outer view of classroom.

 

Financial Resources

The Trust is a charitable Trust and is not receiving any aid or grant from the government or any national or international aid givers or corporate sector. The Trustees and sponsors are mainly housewives and retired persons. Those wishing to help the Trust could do so by giving a donation, sponsor a child, partially sponsor the salary of a Teacher, build a portion of the school building to provide quality education which will secure the future of children of underprivileged families. 

1. DONATIONS:

Donations are most welcome and utilized for the purpose indicated by the Donor. However any income derived from any source is only utilized for achieving the objectives of the Trust.

2. SPONSORSHIP SCHEMES:

To keep the sponsorship to the Minimum level the expenditure on Fixed Assets including property, furniture and fixture, generator, library and training aids are not included for costing the actual expenses on the education of students. The Trust endeavors to raise adequate funds for Sponsorship Schemes to meet the educational and other expenses of the free school. The following sponsorship schemes are introduced.

a. SPONSORSHIP SCHEME FOR STUDENTS:

As most of the students are sponsored by housewives and retired persons, the actual cost of their educational and related expenses are kept to the minimum level. The sponsorship for student is Rs 10,000 per annum per student although actual exceed Rs 12,600/= per student and the shortfall is met through other resources.

b. SPONSORSHIP SCHEME FOR TEACHER’S SALARY:

The Teachers Salary is the most expensive element of the educational expenditure and is increased by leaps and bound due to abnormal inflation and rapid increases in salaries, which ranges between Rs 60,000 to Rs 200, 000 per Teacher per annum. The Trust endeavors to encourage sponsor to partially share the expenses of Rs 42,000 per annum or any amount at the discretion of the sponsors.             

3. ENDOWMENT FUND:

Any savings from donations, sponsorship schemes, profits on investment is added to the Endowment Fund created for expenditure on Fixed Assets and to financially support activities for fulfillment of the objective of the Trust. Recently the building in Junejo Town for the second Trust School has been purchased from the Endowment Fund.

4. ANNUAL BUDGET:
A detailed Annual Budget on all forecast income and expenditure is approved by the Board of Trustees at the start of the Financial Year. Any variation is explained at the end of Financial Year.

5. ANNUAL AUDITS:
Annual Audits are carried out by renowned firm of Chartered Accountants, who also submit Income Tax return. The accounts are open for inspection by any interested member of the public.

6. EXEMPTION FOR DONORS:
Donors through crossed Payee Account cheques are entitled to tax credit in the Tax returns, Vide FBR Letter No CIR / Legal / RTO / KYC / 2010 / 1209 dated 03 November 2010.

 

Reports:

Audit and Annual Report 2015-2016

 

 

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