Accounts & Audits

1. Aim

The aim of Accounts Policy of Lahore Association Pakistan (LAP)/ Fukuoka School for Special Children is to high – light the ways/means of Income and Expenditure of the amount received in the form of Zakat, Donations,  Sadqat and other charities from the philanthropists in a transparent manner without any ambiguity.

2. Income

Lahore Association Pakistan  (LAP)  for the welfare of mentally and physically handicapped children is a purely charitable NGO/NPO which completely depends on  the charity,  donations,   Zakat,  Sadqaat,  fitrana and the Qurbani  skins etc. we collect such money in cash or kind by writing letters to the philanthropists and leaf lets etc.

3. How to Make it Accountable?

The money so collected is taken on proper ledger charge. The donor is given  the proper receipt of the amount which bears the machine No. and is audited by the internal/external audit authorities.   The amount is then deposited into the Bank the same day/other day. Its deposit slip is kept as a record for audit.

4. Expenditure

The expenditure of the amount so collected is made only for the welfare and rehabilitation of the handicapped children. No trustee/ member of the General Body is drawing any amount as salary or for any private purpose. The amount is only expended on:-

• Salary of teachers and administrative staff working in the
• Stationery/equipment and all such relating items for use
  in  the office and class.
• Fuel, repairs/maintenance of the School Van.
• Utility Bills of Gas, Electricity and telephone etc.
• Toys and playing material for the children.
• Tours/visits and refreshment of the children.
• Repairs/maintenance of the school building, fixtures and equipments etc.
• Any other item which can be useful for the school/ children with  the approval of Executive Body.

5. How to draw the Amount from the Banks?

The required amount is drawn from the banks through a cheque signed by the two Executive Members of the Executive Body among the following, if the amount is up to Rs. 50000.00 and if the amount is more than Rs. 50000.00, all the three will have to sign the cheque and draw the money;-

• President
• Secretary Finance/Treasurer
• Principal Fukuoka School

The amount so drawn is taken on Petty Cash ledger and also on  the column provided on the Cash Account Book and is expended as per the requirement.

6. Cheque Books

Cheque Books of all the accounts and other instruments of accounts are kept with the Treasurer/ Finance Secretary/ Principal who are responsible for their safe custody.

7. Audit of Accounts

Click to view Audit of Account 2012

Click to view Audit of Account 2013

All the Accounts are closed on the last date of each month tallying with the Bank Statements. The Bank Statements are pasted on the last page of the ending month for easy and ready reference. Any member of the Association /Governing Body can carry out audit/checking of the Accounts and the other affairs of the school. At the end of the Financial Year i.e on 30th of June, the Accounts are closed and sent to the Audit Authorities along with the complete supporting documents who carry out the detailed audit of the Accounts and forwards an Audit Report the NPO/School.

01 July, 2012