GATF Update Dec 2006
Last Updated (Tuesday, 26 January 2010 22:29)
GATF Update Dec 2006
1. Status of the Fund as at 31 December 2006
The total pledged was US$ 1,034,948 of which US$ 943,568 had been received. The total of other income, including proceeds from sales of items/miscellaneous and interest derived on investment of the capital sum, was US$168,675; bringing the total receipts to US$ 1,112,243 (Dec. 2005 – US$ 1,066,182 ). As at 31 December 2006. The table below is a summary of details of the Fund.
Contributions for the period 1 April 1996 – 31 December 2006
No. | Category | Pledged Total 2005 | Pledged Total 2006 | Received as at Dec 2005 | Received as at Dec 2006 | Balance of Pledges |
1 | National Movements | 687,663 | 687,663 | 659,100 | 668,710* | 28,569 |
2 | Local YMCAs | 192,292 | 192,292 | 132,805 | 132,805 | 59,487 |
3 | Other Organisations | 20,824 | 22,747 | 20,824 | 22,747 |
|
4 | Individuals | 132,247 | 132,247 | 119,306 | 119,306 | 12,941 |
| Sub-total I | 1,033,026 | 1,034,949 | 932,035 | 943,568 | 100,997 |
5 | Sales/Miscellaneous | - | - | 10,221 | 10,221 | - |
6 | APAY Surplus (10%) | - | - | - | 4,230 | - |
| Sub-Total 2 | - | - | 10,221 | 14,451 | - |
7 | Interest Received | - | - | 123,926 | 154,224 | - |
| Sub-Total 3 | - | - | 123,926 | 154,224 | - |
| Total (ST 1,2,3) | 1,033,026 | 1,034,949 | 1,066,182 | 1,112,243 | 100,997 |
* Including Additional Contribution since 2004 of amount in lieu of hosting dinner for the ECM
There is an outstanding pledge amount of US$100,997, of which we estimate approximately 50% will be paid up – we hope by the time of the General Assembly.
Expenses for the period 1 January – 31 December 2006
No. | Item | Expenses in 2006 | Expenses 1999-2006 |
1. | Set-up costs/legal | - | 38,208 |
2. | Admin/Operating Costs | 6,135 | 52,029 |
3. | Disbursements to Projects | - | 15,000 |
| Total | 6,135 | 105,237 |
2. Investments
Funds Deployed | Date Placed | Maturity Date | Interest Rate | Amount /USD |
Fixed Deposit in BEA | Various |
| 4.5% ave | 522,000 |
Interest Receivable on Fixed Deposits | Various |
| - | 1,015 |
APAY General Fund | - |
| - | 2,581 |
HK Link HK$50,000 | May 2004 | May 2007 | 2.75% | 6,410 |
Ford Bond | Oct 2003 | Oct 2007 | 4% | 200,000 |
Nouvo 3 Years Bond, | Oct 2004 | Oct 2007 | 3.88% | 100,000 |
HK Airport Bond | Mar 2003 | Mar 2008 | 2.96% | 120,000 |
Pacific (Citi Bank) | Dec 2003 | Dec 2008 | 4.2% | 55,000 |
TOTAL |
|
|
| 1,007,006 |
The total interest from bonds and fixed deposits received in 2006 was US$38,356 (2005 US$34,373). In 2007, the return from the investments in bonds is expected to be US$23,220. The total interest that we can expect in 2007 will depend very much on the Fixed Deposit interest rates during the year. With the steady interest income during the past two years and the year ahead, we should begin to disburse support to projects on a larger scale for greater community impact and to build up a more visible profile for the GATF.