Income up by 2.6 million in 2008
In retrospect 2008 has been a good year for HEKS, with total income up on 2007 by 5% or 2.6 million Swiss francs.
Fortunately, there was no need to use donated funds to cover the relatively low loss of financial assets sustained as a result of the economic crisis, as investments made in the past provided a buffer for fluctuations in value.
The volume of national project work rose slightly in comparison with the previous year. At 17.6 million Swiss francs, expenditure is 8.2% up on the previous year. New projects were started up whilst many existing projects continued to make successful progress.
The volume of international project work decreased slightly in line with the drop in humanitarian aid given by HEKS. Proceeds for the international work rose by 0.3 million Swiss francs to 27.5 million Swiss francs. Major efforts were made in the international section to extend the financial controlling and supervision which resulted in a slight increase in administration costs.
The new layout of the HEKS annual report provides scope for showcase projects to demonstrate the effectiveness of our work, with each of the six areas of focus - two national and four international ones - being allocated a double-page spread and illustrated with pictures from the projects. The second part contains the financial report with detailed annual accounts and a statement showing the source and allocation of funds.
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