Financial Report for 2002

Total income for the financial year ending 31 December 2002 was Baht 3.6 million, which compares favorably to the previous year when Baht 2.9 million was earned. These figures do not include the Sponsorship revenue, which is now shown against Running Costs, as the intention of raising this money is to cover the costs of events and advertising the Festival. With an increased income of Baht 700,000 this year has been more of a success than anyone hoped for. Special thanks should go to the Ambiance Group for organizing many of the events and for generous donations during the year. The loyal band of Pattaya residents continues to give generously at all the events and the committee wishes to express their gratitude for this.

Sponsorship Fees of Baht 478,000 were collected during 2002, an increase of Baht 165,000 over the previous year. There was a shortfall of Baht 236,000 against Total Costs though this included Advertising in some longer range projects, the 2003/04 Spartacus guide and the Thai Guys Tales soft back book and it is hoped the advantage will accrue in later years.

The 2002 Net Income available for Donation to Charities was Baht 3.4 million, an increase of Baht 700,000 over the previous year. Of this HEARTT 2000 was the major beneficiary, receiving Baht 1.9 million during the year. A further Baht 200,000 has already been handed over in January 2003. During a visit to the surgery records were sighted showing payments for HIV/Aids drugs in excess of the total PGF donation during the year. The Naklua Drug Rehabilitation Centre (NDRC) received Baht 377,000 during the year for improvements to their facilities, paid from the agreed reserves at the end of 2001, leaving a balance of Baht 373,000 for future donations.

The Bank Balance at 31 December 2002 was Baht 2.5 million, to be drawn down as required by HEARTT 2000 and the NDRC.

It was agreed by the PGF Committee to ask Khun Rashain of A.C.E.S. Financial Services to audit the 2002 accounts. However they have advised that charities are not audited rather the Chairman and the Accountant sign the accounts.

See detailed report at Fundraisind page