Manitoba Islamic Association

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Presentation transcript:

Manitoba Islamic Association 2016/17 Financial Report and 2017/18 Budget

MIA Financial Audit MIA financial reports are audited annually by external auditors (Scarrow & Donald Chartered Accountants) MIA financial records during the year, as well as annually, are reviewed by the MIA Internal Audit Committee, comprising professional accountants MIA Financial Statements are presented to MIA membership at the AGM

MIA EC Compensation Facts MIA Executive Council (EC) is a voluntary body MIA does not receive any financial payment (salary or otherwise) MIA Constitution, Article X, Section 1, items 2 and 3: 2. Elected members shall not be paid any salary or honorarium or receive, directly or indirectly, any payments for his or her services to the MIA. 3. Elected members shall not be appointed to fill any paid staff position in the MIA.

Audit Opinion

2016/17 Statement of Operations

Capital Projects

Statement of Operations

Revenue Breakout

Statement of Operations

Expenses Breakout

Takaful (last 5 years) It’s a separate committee independent of EC Chaired by Brother Khalid $876,000 funds has been disturbed 532 people has been help

Takaful (last 5 years)

# of people Helped

Donations process Prior to this had three different software to tracking donations Going paperless for donations effective Jan 1, 2018 Biweekly deposits Donation boxes to clear up once a month

Proposed MIA 2017/18 Budget

Thank You