Page 79 - Safaricom Foundation Annual Report 2020-2021

The trustees submit their report together with the the the the the audited financial statements of Safaricom Foundation Foundation (the “Foundation”) for the the the the the year ended 31 March 2021 Principal Activities
The principal activities of of of of the the the Foundation as detailed in in in the the the Declaration of of of of Trust are towards the the the relief of of of of poverty and distress of of of of persons in in in Kenya Kenya and and and the the furtherance of of education and and and training of of persons in in in Kenya Kenya The Foundation is funded by grants and and and donations from corporate and individual sponsors Individuals’ funding funding entails co-funding towards approved projects Results
The The deficit deficit for the the year of of Shs Shs (358 099 631) (2020: surplus of of Shs Shs 89 392 494) has been added to the the revenue reserve fund The The deficit deficit is mainly as as a a a a a a a a result of increased donations granted to beneficiaries in in in the year Trustees The Trustees who held office during the year and to the date of this report were:
TRUSTEES’ REPORT
Joseph Ogutu
Janice Mwendameru Josephine Kamanthe Fawzia Ali
Rita Okuthe
Sylvia Mulinge Stephen Chege Githinji Gitahi Barrack Odero Petra Migisi Frankline Okata
Disclosures To Auditors
Retired 26 April 2020 Retired 26 April 2020 Appointed on 1 September 2020 Appointed on 1 September 2020 Appointed on 1 September 2020 The trustees confirm that with respect to each trustee trustee at at the time of of approval of of this report:
(a) there was as as as far as as as each trustee is is aware aware no relevant audit audit information of which the the Foundation’s auditor is is unaware and (b)each trustee trustee had taken taken all steps that ought to to to have been taken taken as as a a a a a a a a a a a a a a a a a a trustee trustee so as as to to to be be aware of any relevant audit information and to to to establish that that the Foundation’s auditor is aware of that that information Terms Of Of Appointment Of Of Auditors
Ernst & Young LLP were appointed during the the year in in in accordance with the the Foundations Trust deed The Trustees monitor the the the the effectiveness objectivity and independence of of the the the the auditor This responsibility includes the the the the approval of of the the the the audit audit engagement contract and the associated fees The agreed auditor’s remuneration has been charged under administrative expenses to to surplus or deficit in the year By order of of the Board of of Trustees Joseph Ogutu
Chairman
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