Worldwide Annual Report

PLAN INTERNATIONAL WORLDWIDE

AUDITORS' REPORT TO THE BOARD OF
DIRECTORS OF FOSTER PARENTS PLAN
INTERNATIONAL, INC.
We have audited the accompanying
combined balance sheet of Plan
International Worldwide as of 30 June
1999, and the related combined statement
of income and expenditures, the
combined statement of changes in fund
balances and the combined cash flow
statement for the year then ended.
These financial statements set out on
pages 4 to II are the responsibility of the
Board of Directors. Our responsibility is
to express an opinion on these financial
statements based on our audit.
We conducted our audit in accordance
with International Standards on Auditing.
Those standards require that we plan and
perform the audit to obtain reasonable
assurance about whether the financial
statements are free of material
misstatement. An audit includes
examining, on a test basis, evidence
supporting the amounts and disclosures in
the financial statements. An audit also
includes assessing the accounting
principles used and significant estimates
made by management, as well as
evaluating the overall financial statement
presentation. We believe that our audit
provides a reasonable basis for our
opinion.
In our opinion, the combined financial
statements present fairly, in all material
respects, the combined financial position
of Plan International Worldwide as of
30 June 1999, and of the results of its
operations, changes in its fund balances
and its cash flows for the year then ended
in accordance with International
Accounting Standards.
PricewaterhouseCoopers
Chartered Accountants
Southwark Towers
32 London Bridge Street
London SEI 9SY
United Kingdom

COMBINED STATEMENT
OF INCOME AND EXPENDITURES

Note

Year ended 30 June
1999 1998
$'000 $'000

INCOME

Child sponsorship income
Grants and other contributions
Investment income
Total income
EXPENDITURES
Program expenditures
Fund-raising
Operating costs
Total expenditures
Income over expenditures

260,002
29,927
5,294
295,223
237,299
28,373
27,303
292,975
2,248

249,077
22,626
5,295
276,998
198,406
27,401
26,861
252,668
24,330

i i

COMBINED STATEMENT
OF CHANGES IN FUND BALANCES

Note

Beginning of year
Income over expenditures
Translation adjustment
End of year 3

Year ended 30 June
1999 1998
$'000 $'000
72,226 49,029
2,248 24,330
573 (1,133)
75,047 72,226

20 November 1999

The accompanying notes on pages 6 to I I are an integral part of these financial statements.