Financials - Food for Life Nepal

The cost of mid day meal per child at Food for Life Nepal is somewhere between Rs. 25-30 per day.

The Government of Nepal (Ministry of Education, Science and Technology) has segregated the budget of 15 Nepali Rupees to secure meals of each child per day enrolled in government schools. The government gives the budget to government schools and those schools have three (3) options to mobilize the midday meal budget:

1. Through the parent group
2. Through appointed kitchens with facilities
3. Procurement and distribution method through catering

C.1. School Centered Catering Model

C.2. Local level centered catering model

Food for Life Nepal’s midday meal scheme falls under (C) section. In coordination with the Ministry of Education, Science and Technology, FFLN receives 15 Nepali Rupees funds from the community schools for each child every school day. Remaining budget is covered by FFLN for each child’s meal.

FFLN has few local monthly donors, yearly donors, CSR programs by corporate houses to raise the remaining funds for the preparation of midday meals.

Sale of Merchandise, events/ campaigns are done to raise the funds.

Financials

Audit System

S. Moktan & Associates, Chartered Accountants COP No.: 892, Membership No.: 998 Firm No. 789, PAN No. 104370410

The management is responsible for the preparation and fair presentation of these financial statements in accordance to relevant financial accounting standards and acts. This responsibility includes: designing, implementing and maintaining internal control relevant to the preparation and fair presentation of financial statements that are free from material misstatement, whether due to fraud or error, selecting and applying appropriate accounting policies; and making accounting estimates that are responsible in the circumstance.

Auditor’s Responsibility:

To express an opinion of these financial statements based on audit.

Basis for Opinion:

The audit will be conducted in accordance with the generally accepted auditing principles, circulars and directives issued under relevant act. The objective was to obtain reasonable assurance whether those guidelines and standards are followed and are free of material misstatements. The audit is based on test, sampling test, checking of supporting and disclosure in financial statements as we considered necessary in the circumstances.