Page 132 - annual_report_2024

130 CA Sri Lanka Integrated Annual Report 2024

Notes to the Financial Statements Contd.

12. RESTRICTED FUNDS AND GRANTS
12.1 Summary

Balance as at Contribution Grants/ Donations Balance as at Balance as at
1.1.2024 from the institute received (Reimbursements) (Payments) 31.12.2024 31.12.2023
Note Rs.’000 Rs.’000 Rs.’000 Rs.’000 Rs.’000 Rs.’000 Rs.’000
Grants 12.2 46 7 2,000 (2,000) - 53 46
Other restricted funds 12.3 12,636 2,050 - (3,208) - 11,478 12,636
Restricted scholarship 12.4 21,577 5,596 32,053 - (6,144) 53,082 21,577
funds
Total restricted funds and 34,259 7,653 34,053 (5,208) (6,144) 64,614 34,259
grants

12.2 Grants
Contribution
Balance as at from the Grants Balance as at Balance as at
1.1.2024 Institute received (Reimbursements) 31.12.2024 31.12.2023
Note Rs.’000 Rs.’000 Rs.’000 Rs.’000 Rs.'000 Rs.'000
Ernst & Young SME grant 12.2.1 46 7 - - 53 46
Sri Lanka Accounting and Auditing 12.2.2 - - 2,000 (2,000) - -
Standards Monitoring Board
(SLAASMB) grant
Total grants 46 7 2,000 (2,000) 53 46

12.2.1 Ernst & Young SME Grant: This amount represents the grant received from Ernst & Young to provide training on audit tool kit
for Small and Medium Practices (SMPs).

12.2.2 SLAASMB Grant: During the year Rs. 2Mn grant has been received from Sri Lanka Accounting and Auditing Standards
Monitoring Board (SLAASMB) for the development of accounting and auditing standards, which was utilised in full for the said
purpose.

12.3 Other restricted funds
Balance as at Contribution Balance as at Balance as at
1.1.2024 from the Institute (Reimbursements) 31.12.2024 31.12.2023
Rs.’000 Rs.’000 Rs.’000 Rs.’000 Rs.’000
Best annual report competition 11,996 1,946 (3,208) 10,734 11,996
fund (Note 12.3.1)
Mr. Chandra Jayarathne Good 640 104 - 744 640
Governance Research Fund
Total other restricted funds 12,636 2,050 (3,208) 11,478 12,636