FINANCIAL REPORT 2015-2016


The income of the FMES in the year 2015-16 was from the following sources:

Subscriptions: Rs. 1,28,628; Membership fees: Rs. 25,500. Bank interest (including interest on fixed deposits)
Rs. 1,40,102; and Rs. 21,000 received from donation. The amount received by way of Grants is Rs. 34,00,000.

In the year 2015-16, we incurred expenses for services of regular staff, payment of honoraria and printing of the journal. The Forum for Medical Ethics Society spent Rs. 2,47,604 on printing the journal and Rs. 8,69,695 on honoraria.  Approximately Rs. 8,07,110 went into establishment and other expenses, including website and Workshop expenses.

Donations to the Forum for Medical Ethics Society are eligible for 50 per cent tax exemption under sections 80G of the Income Tax Act.

BALANCE SHEET
Properties and Assets Rs.
Fixed Assets 1,367.00
In Saving Bank Account 26,78,430.02
Cash In hand 9,390.00
Advance Tax Deducted at Source. 1,01,692.00
Deposit for Office Premises 1,50,000.00
Prepaid Expenses 2,72,900.00
32,13,779.02
Fund and liabilities
Trust funds or corpus 1,36,157.00
Contingencies reserve fund 45,000.00
Life subscription fees (refundable) 4,30,570.00
Balance as per last balance sheet 8,11,230.22
Excess of income over expenditure 17,90,821.80
32,13,779.02

Income During the year
Sr. No. Particulars Rs.
(a) Bank interest
1 On Fixed Deposit 61,252.00
2 On Saving Bank Account 78,289.00
3 Int. on Income tax refund 561.00
(b) Income From Other Sources
1 Membership Fee 25,500.00
2 Subscription 1,28,628.89
(C) Donations 21,000.00
(d) Grant Received 34,00,000.00

Expenses incurred on objects of the Trust (educational)
Sr. No. Particulars Rs.
(a) Journal expenses
1 Printing & Posting Journal 2,47,604.00
2 Honoraria* 8,69,695.00
(b) Establishment Expenses
1 Travel & Conveyance Expenses 10,571.00
2 Printing & Stationery 19,933.00
3 Xeroxing Charges 1,700.00
4 Website Expenses a 4,85,403.00
5 Telephone & Internet 21,444.00
6 Bank Charges 573.09
7 Repair and Maintenance Charges 2,000.00
8 Rent Paid 32,700.00
9 Hospitality and Meeting Charges 15,679.00
10 Postage & Telegram 55,273.00
11 Interest Paid 150.00
12 Brokerage Paid 25,000.00
13 Legal and Professional Fees+ 1,01,485.00
14 Membership and Subscription 20,269.00
(C) Audit Fees 13,740.00
(d) Other
1 Depreciation 1,190.00
* Payments to two editorial and one administrative staff, copy editing agency and NBC secretariat
a Part payment to the web service provider towards web development and routine services
+ Payment for legal and financial advice regarding formalities of the Charity Commission’s office and
CSR fund utilisation formalities
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