Sunday, 08 May 2011 01:03
The annual accounts for the year ended 30-Jun-2010 were presented at the last AGM and got approved without any meaningful discussion. Tariq O. Rehman (H/17) although raised the point that the bulk of cash inflows consisted of donations received from Petarians' Association and the least that HOBA can do is to thank them for this great gesture.
The annual accounts, consisting of an Income & Expenditure Statement, Balance Sheet and two pages of Notes to the Accounts have been published on this site for the benefit of all alumni. You will however, need to log in to access the complete set of financial statements.
This is the first time that financial statements pertaining to the affairs of HOBA have been published. These financial statements still do not appear on the Abdalians Associations official web site. It is still not clear from HOBA's stance, as to who qualifies to receive these financial statements. In previous years, except for the period when Adnan Afaq was Secretary Finance, the financial statements were not shared with the members. In some years, the financial statements were not even submitted before the members in AGM's, as the accounts had not been audited by that date.
Whilst the statements of accounts are not so big, that they go into millions of rupees, Abdalians still reserve the right to receive them and see what is happening with the money that is either donated or paid as subscription fee.
Click here to read the complete set of financial statements.