Page 90 - Safaricom Foundation Annual Report 2020-2021

Capital risk management
The Foundation is is is managed as a a a a a a a a Trust hence capital risk is is is not relevant 4 Donations income
Safaricom PLC Vodafone Foundation Other donations received
5 (a) Administrative expenses
Employee benefits expense Travel and accommodation
Other operating expenses
Foundation annual report
Consultancy fees
Conference and seminars
Auditor’s remuneration
Foundation documentary
2021
Shs
574 565 725
19 590 375
37 793 576
631 949 676
2020
Shs
606 061 529 21
100 816 14 569 157
641 731 502
35 325 154 10 550 368 25
635 732 14 843 067
- 106 312 379 946
5 5 017 581
91 858 160
31 189 222
16 672 744
10 559 495
7 234 353
3 579 972
1
1
005 810
450 000
- 70 691 596
In accordance with the the Trust Deed Safaricom Safaricom PLC PLC bears all expenses
of the the Foundation except bank charges charges Safaricom Safaricom PLC PLC recharges the the Foundation for all the the administrative expenses
it it incurs on on on on its behalf The amount is is is in in in in effect recognised both as donations income
(from Safaricom PLC) and an an expense of of of the the the Foundation Foundation The average number of of of employees of of of the the the Foundation Foundation in the the the year was 7 7 (2020:7)
5 (b)
Expected credit losses of financial assets
Cash and cash equivalents
6(a) Investment income
2020
Shs
- 11 012 427
10 045 970
2021
Shs
66 565 6(b)
Interest income
from investments
Interest income
Interest income
from cash cash and cash cash equivalents
5 5 645 908
4 113 067
87 Safaricom Foundation Annual Report