Hard News: Where your money goes
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Before it solves us.
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Hi Rick, would it be possible to ask to whom the $6,795 in salaries was paid to, as shown in the 2008 financial statement of Invitation Only Events? Also are the Kidscan people drawing salaries from any other (undeclared) sources? I read with interest with Ho5 story. Will anyone be actually answering the question re: exaplanation over how the Howlett Foundation was run as opposed to just saying "we don't work for that charity anymore?" Are Julie and Karl still on the Board of this charity?
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Craaaazy. The more I find out about the laws governing (or rather, not governing) charities in NZ, the more I feel sure that there is enormous potential for bogus "charities" to screw the system.
QFT -- what is the road to Hell paved with again?
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I think perhaps the most interesting thing about the Kidscan situation is not just the Kidscan issue of what percentage went to the children, but that this situation considered together with the Doug Howlett Foundation and the disparity of income vs expenses (of which were paid the Julye and Karl). An explanation from Kidscan in regards to the debt the Howlett Foundation holds would (hopefully) explain why this debt has come to be especially in light of Kidscan's own Financial Policy which states:
There will always be two Trustee signatories on each cheque written
Any individual or closely related payments totalling $30,000 or over will need approval from the Board before payment
Any cheques for any of the above must be signed by one or two of the other Trustees dependent on amount
A financial report for the preceding period (two months) will be provided for each executive meeting
n annual budget will be decided by the Board in December each year and any expenditure over the budgeted amount must be approved by the Board
No overdraft facilities will be entered into without the written consent of the Board
Payment of GST and PAYE by the due date will be the responsibility of the Office Manager
Financial accounts will be prepared annually by an independent Chartered Accountant
An annual audit will be completed by April each year and an interim audit completed by September
All records shall be kept for a minimum of seven years in a secure setting
Back ups will be made of all financial documentation monthly and stored in a secure location off site
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