belize natural energy charitable trust annual general report 2011-2012
DESCRIPTION
The accompanying summary financial statements, which comprise the summary statement of financial position as at March 31, 2011 and the summary statement of activities for the year then ended, are derived from the audited financial statements of Belize Natural Energy Charitable Trust for the year ended March 31, 2011. We expressed an unmodified audit opinion on those financial statements in our report dated July 25, 2011.TRANSCRIPT
A N N U A L G E N E R A L R E P O R T2 011 - 2 012
TABLE OF CONTENTS
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BELIZE NATURAL ENERGY CHARITABLE TRUSTANNUAL GENERAL REPORT
VISION AND MISSION STATEMENT 2
CHAIRMAN’S MESSAGE 3
AUDITED FINANCIAL STATEMENTS 4
TRUSTEES AND TECHNICAL TEAM 6
GENERAL MANAGER’S NOTE 7
REVENUE AND INVESTMENTS (2008-2012) 8
INVESTMENT PORTFOLIO (2011-2012) 9
COMPLETED PROJECTS 10
THE TRUST AT WORK! 12
COMPLETED PROJECTS (CONT’D) 14
ONGOING PROJECTS 21
OUR PARTNERS 22
STUDENT LOAN PROGRAM 23
GUIDING PRINCIPLES 24
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CHAIRMAN’S MESSAGE
Dear Partners,
On behalf of the Board of Trustees, Management & Staff of the BELIZE Natural Energy Charitable Trust, we are pleased to share with you a copy of our Annual General Report for the fiscal period 2011-2012. As you peruse the pages of this Report, you will become more familiar with the work that has been done in our 2nd Project Cycle. As a fairly new organization, we are propelled by our mission to serve as a catalyst to unlock the full potential of the people and communities we are mandated to serve. Representing the Government of Belize and the Belize Natural Energy Ltd, the Trust has been able to forge a model partnership between the public and private sectors that address the educational and social environmental needs of our developing country.
In the past four years, over $5.4 million dollars have been invested in improving the quality of life for Belizeans. Many of our local institutions; thousands of Belizeans students as well as communities throughout the length and breadth of Belize have directly and indirectly benefited from educational and social environmental projects, capacity building programs, student loans, and micro enterprise outreach. As a Board, we are guided by the principles of equity and equality; transparency and accountability; respect of all people and cultures; and, constructive and effective partnerships. In essence, TRUST; FINANCIAL & SOCIAL RESPONSIBILITY; HUMAN POTENTIAL; and, TEAM WORK are considered the pillars for our success.
In addition to the physical work we have done within local communities, the Trust has also made solid investments in appropriate management tools to guide our investment decisions and to improve organizational efficiency and effectiveness. We have strengthened our policies and procedures to provide clear guidelines and criteria for project selection and the awarding of Trust grant funds; communicating with external and internal partners; and, managing both our financial and human resources to ensure the long-term sustainability and viability of the Trust. Our newly adopted 5-Year Strategic Plan (2012 -2016) outlines the objectives and goals in moving the work of the Trust forward.
We are proud of our accomplishments in this past year but remain cognizant that there is still a lot of work ahead of us. This work will require greater cooperation with partners like you. We welcome your questions and recommendations on how we can better collaborate with the organizations and institutions you represent. We thank you in advance for sharing your comments and suggestions in this regard. Together we can unlock the true potential of Belize.
Sincerely,
Orlando BurnsChairman of the Board of Trustees
Orlando Burns
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SUMMARYFINANCIAL REPORT
REPORT OF THE INDEPENDENT AUDITORS ON THE SUMMARY FINANCIAL STATEMENTS OF BELIZE NATURAL ENERGY CHARITABLE TRUST ______________________________________________ The accompanying summary financial statements, which comprise the summary statement of financial position as at March 31, 2011 and the summary statement of activities for the year then ended, are derived from the audited financial statements of Belize Natural Energy Charitable Trust for the year ended March 31, 2011. We expressed an unmodified audit opinion on those financial statements in our report dated July 25, 2011. The summary financial statements do not contain all the disclosures required by International Financial Reporting for Small and Medium-sized Entities (IFRS for SMEs) applied in the preparation of the audited financial statements of Belize Natural Energy Charitable Trust. Reading the summary financial statements, therefore, is not a substitute for reading the audited financial statements of Belize Natural Energy Charitable Trust. Management’s Responsibility for the Summary Financial Statements Management is responsible for the preparation of a summary of the audited financial statements in accordance with International Financial Reporting Standards for Small and Medium-sized Entities. . Auditors’ Responsibility Our responsibility is to express an opinion on the summary financial statements based on our procedures, which were conducted in accordance with International Standard on Auditing (ISA) 810, “Engagements to Report on Summary Financial Statements.” Opinion In our opinion, the summary financial statements derived from the audited financial statements of Belize Natural Energy Charitable Trust for the year ended March 31, 2011 is, in all material respects, a fair summary of those financial statements, in accordance with International Financial Reporting Standards for Small and Medium-sized Entities. PKF Belize Chartered Accountants Belize City August 9, 2011
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AUDITED FINANCIALSTATEMENTS
Orlando Burns
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TRUSTEES
TECHNICAL TEAM
Orlando BurnsChairmanTel.: (501) 822-2440/2441Email: [email protected]
Melanie EscalanteTrusteeTel.: (501) 822-2440/2441Email: [email protected]
Tracy PantonGeneral ManagerTel.: (501) 822-2440/2441Cell: (501) 610-4850Email: [email protected]
Elswyth PatnettProject/Program AdministratorTel.: (501) 822-2440/2441Cell: (501) 622-4206 Email: [email protected]
Alberto AugustTrusteeTel.: (501) 822-2440/2441Email: [email protected]
Daniel GutierezTrusteeTel.: (501) 822-2440/2441Email: [email protected]
John AranaProject CoordinatorTel.: (501) 822-2440/2441Cell: (501) 601-4355Email: [email protected]
Alcan MarinAdministrative CoordinatorTel.: (501) 822-2440/2441Email: [email protected]
Ismael RequenaTrusteeTel.: (501) 822-2440/2441Email: [email protected]
Kevin HerreraTrusteeTel.: (501) 822-2440/2441Email: [email protected]
Abner ValladaresAccountantTel.: (501) 822-2440/2441Cell: (501) 668-8480Email: [email protected]
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GENERAL MANAGER’SNOTE
Dear Friends,
Without doubt, the foregoing year has been a productive one for the BELIZE Natural Energy Charitable Trust. Our Team of Five, along with our Board of Trustees, have felt a great deal of pride and an even greater sense of responsibility in our endeavor to positively impact the people and communities we have had the privilege to serve. Despite working through some challenges of our own we have remained focused on our vision and mandate. We have learnt valuable lessons and have emerged stronger, better equipped. Through it all, we never lost sight of our commitment to YOU. In the past 12 months, a record 33 individual projects and programs were initiated. We are pleased to report that 23 have been successfully completed. By the close of this current fiscal year the 7 that are now on-going will be concluded. The other 3 projects had to be discontinued due to circumstances outside of our direct control. It is also important to note, that 80% of all revenues collected by the Trust are invested in projects and programs while 20% is utilized to offset our administrative costs.
As you to flip through the pages of this Annual General Report you will be able to see that the Trust represents a tangible impact of oil revenues in Belize. At the Trust, we believe in the power of the human potential. We believe that the investments in people are the best investments we can make. Far more important than the number of projects and programs we have embarked on this year is the lasting effect these projects and programs will have on the institutions, communities and people who have been the primary beneficiaries: 500 students have had the opportunity to seek higher education; 300 primary and secondary school educators have been exposed to a Teacher Leadership Training Initiative; 9 local entrepreneurs have been able to access affordable credit; over a 100,000 Belizeans countrywide have been served by new school infrastructure, computer labs, library facilities, parks and play grounds. Multiply this impact year after year and soon we will begin to realize that every penny, well spent, is making a difference in changing the socio-economic landscape of Belize.
We appreciate the support we have received from our network of partners that share our vision and core values. Although much has been done, much is left to do. We cannot give up. We will not give up until the Belize we live in provides for a better quality of life for all our citizens. We invite to you to partner with us in this undertaking. As the ancient proverb reminds us: “Give a man a fish and he will eat for a day; teach a man to fish and he will eat for a lifetime.”
With best wishes,
Tracy Panton GENERAL MANAGER
Tracy Panton
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REVENUE & INVESTMENTS 2008 - 2012
5,500,000
4,000,000
2,500,000
1,000,0002008-2009 2009-2010 2010-2011 2011-2012
ADMINISTRATIVE EXP.
PROJECTS & PROGRAMS
PILOT MECP
REVENUES
STUDENT LOANPROGRAM
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INVESTMENTPORTFOLIO 2011 - 2012
Educational Projects $1,406,374 44%Student Loan Program $1,100,000 34%Social Environmental Projects $ 430,401 13%Capacity Building Projects $ 178,473 6%Pilot Micro-Enterprise Credit Prgoram $ 110,000 3%
TOTAL $3,225,248
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PILOTMECP 3%
STUDENTLOANPROGRAM 34%
SOCIALENVIRONMENTAL
PROJECTS13%
CAPACITY BUILDINGPROJECTS
6%
EDUCATIONALPROJECTS
44%
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Project Type:Partner:
Direct Impact:Indirect Impact:
Investment Support from The Trust:Partner’s Contribution:
Total Investment:Inaugurated:
Rescue EquipmentBelize Disaster Rescue Response Team1,000 Rescue workers to be trainedCountrywide supportBZ $20,000.00BZ $ 5,000.00BZ $25,000.00November 29th, 2011
BELIZE DISASTER RESCUE RESPONSE TEAM, CAYO DISTRICT
COMPLETED PROJECTS
Project Type:Partners:
Impact:Investment Support from The Trust:
Partner’s Contribution:Total Investment:
Inaugurated:
Public ParkBenque Viejo Town Council andGovernment of Belize6,000 Residents of Benque Viejo TownBZ $74,242.00BZ $ 9,000.00BZ $83,242.00December 19th, 2011
BENQUE VIEJO TOWN COUNCIL, CORONATION PARK, CAYO DISTRICT
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COMPLETED PROJECTS
Project Type:Partners:
Impact:Investment Support from The Trust:
Partner’s Contribution:Total Investment:
Inaugurated:
Outreach Center, Sewing Program
over 200 persons per yearBZ $40,159.68BZ $35,000.00BZ $75,159.68January 24th, 2012
CENTRO VISION MISIONERO, BELIZE DISTRICT
Centro Vision Missionero, The Children sewing partners of belize, the word at work organization, the women of westminster Presbyterian church of lubbock texas, rotarty club clovis, new mexico
Project Type:Partner:
Impact:Investment Support from The Trust:
Partner’s Contribution:Inauguration:
Adult Daycare FacilityHelpAge BenqueElders of Benque ViejoBZ $92,339.76 In-Kind SupportScheduled for March 2012
HELPAGE BENQUE, CAYO DISTRICT
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The Trust at work!
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COMPLETED PROJECTS
Project Type:Partner:
Impact:Investment Support from The Trust:
Partner’s Contribution:Inaugurated:
Restroom FacilitiesHelpAge Belize40 MembersBZ $34,473.39In-Kind SupportJanuary 14th, 2012
HELPAGE HOPKINS, STANN CREEK DISTRICT
Project Type:Partners:
Impact:Investment Support from The Trust:
Partner’s Contribution:Inaugurated:
Park ImprovementsPunta Gorda Town Council and Residents of Hopeville800 residents of HopevilleBZ $63,916.00 Labor, Machinery & other In-kind supportFebruary 19th, 2012
HOPEVILLE NEIGHBORHOOD PARK, TOLEDO DISTRICT
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COMPLETED PROJECTS
Project Type:Partners:
Impact:Investment Support from The Trust:
Partner’s Contribution:Inaugurated:
Roof/Classroom renovationsLadyville Evangelical School and Ministry of Education & Youth320 Students, 15 Teachers, 2 WardensBZ $79,184.93In-kind supportNovember 10th, 2011
LADYVILLE EVANGELICAL SCHOOL, BELIZE DISTRICT
Project Type:Partners:
Impact:Investment Support from The Trust:
Partner’s Contribution:Total Investment:
Inaugurated:
Accident/Emergency reception areaKarl Heusner Memorial Hospital and Ministry of Health30,000 Patients per yearBZ $31,620.00BZ $ 8,380.00BZ $40,000.00September 14th, 2011
KARL HEUSNER MEMORIAL HOSPITAL, BELIZE DISTRICT
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COMPLETED PROJECTS
Project Type:Partner:
Impact:Investment Support from The Trust:
Partner’s Contribution:Total Investment:
Inaugurated:
Upgrade Solar SystemLa Gracia School85 persons per yearBZ $21,921.00BZ $ 3,000.00BZ $24,921.00October 21st, 2011
LA GRACIA, CAYO DISTRICT
Project Type:Partners:
Impact:Investment Support from The Trust:
Partner’s Contribution:Total Investment:
Inaugurated:
Sports Facility4-H Youth development center, Youth for the future, Ministry of Education & Youth200 students per yearBZ $52,559.30BZ $ 9,440.70BZ $62,000.00September 23rd, 2011
NATIONAL 4-H YOUTH DEVELOPMENT CENTRE, CAYO DISTRICT
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COMPLETED PROJECTS
Project Type:Partner:
Impact:Investment Support from The Trust:
Partner’s Contribution:Total Investment:
Inaugurated:
Roof RenovationNew Covenant Trade Center5,205 ResidentsBZ $60,364.56BZ $16,060.44BZ $76,425.00September 7th, 2011
NEW COVENANT TRADE CENTER, TOLEDO DISTRICT
Project Type:Partner:
Impact:Investment Support from The Trust:
Partner’s Contribution:Total Investment:
Inaugurated:
Sports FacilityNew Orange Walk East Sports Committee20,000 ResidentsBZ $46,252.70BZ $24,000.00BZ $70,252.70August 12th, 2011
THE NEW ORANGE WALK EAST SPORTS CENTER, ORANGE WALK DISTRICT
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COMPLETED PROJECTS
Project Type:Partners:
Impact:Investment Support from The Trust:
Partner’s Contribution:Inaugurated:
Roof/Classroom RenovationsSacred Heart Primary School & Ministry of Education & Youth1,000 Students per yearBZ $104,560.75In-Kind SupportOctober 28th, 2011
SACRED HEART PRIMARY SCHOOL, CAYO DISTRICT
Project Type:Impact:
Investment Support from The Trust:Sunrise Rotary/Rotary Club of Rocky
Mountain N.C:Rotary Culb of Belize Sunrise:
Total Investment:Inaugurated:
Library FacilitiesResidents of Belize CityBZ $ 50,245.90
BZ $ 25,000.00BZ $ 44,000.00BZ $119,245.90November 3rd, 2011
PORT LOYOLA LIBRARY PROJECT, BELIZE DISTRICT
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COMPLETED PROJECTS
Project Type:Partners:
Impact:Investment in school infrastructure:
Investment in Teacher Leadership Training:In-Kind Contribution of Partners
Total Investment by the Trust:Inaugurated:
Resource CenterSanta Elena Primary School; NARCIE; Ministry of Education & Youth1,100 Students, 60 TeachersBZ $93,967.46BZ $11,200.00250 Teachers Trained CountrywideBZ $105,167.46November 9th, 2011
SANTA ELENA PRIMARY SCHOOL/NARCIE, CAYO DISTRICT
Project Type:Partners:
Impact:Investment Support from The Trust:
Partner’s Contribution:Inaugurated:
Computer LabSan Roman RC School andMinistry of Education & Youth92 Students, 5 TeachersBZ $113,866.62In-kind SupportFebruary 16th, 2012
SAN ROMAN R.C. SCHOOL, ORANGE WALK DISTRICT
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COMPLETED PROJECTS
Project Type:Partners:
Impact:Investment Support from The Trust:
Partner’s Contribution:Inauguration:
Renovation of ClassroomsSt. Peter’s Anglican School and Ministry of Education285 Students, 20 StaffBZ $99,650.00In-kind SupportScheduled for February 29th, 2012
ST. PETER’S ANGLICAN SCHOOL - SPECIAL EDUCATION CENTERORANGE WALK DISTRICT
Project Type:Partners:
Impact:Investment Support from The Trust:
Partners’ Contribution:Total Investment:
Inaugurated:
Classroom with Bathroom FacilitiesOur Lady of Fatima School, Perenco, Fair Trade91 Students per yearBZ $30,000.00BZ $43,001.50BZ $73,001.50February 12th, 2012
OUR LADY OF FATIMA R.C. SCHOOL, ORANGE WALK DISTRICT
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ONGOING PROJECTS
Monsignor Romero R. C. SchoolProject Type: Classrooms Estimated Investment: $90,666.00Location: Valley of Peace, Cayo District
Our Lady of Guadalupe R. C. SchoolProject Type: ClassroomEstimated Investment: $92,472.07Location: Belmopan, Cayo District
Bishop O.P. Martin R.C. SchoolProject Type: ClassroomsEstimated Investment: $262,258.10Location: San Ignacio, Cayo District
Belmopan Comprehensive High SchoolProject Type: ClassroomEstimated Investment: $103,251.13Location: Belmopan, Cayo District
Belmopan Baptist High SchoolProject Type: ClassroomEstimated Investment: Undergoing bidding processLocation: Belmopan, Cayo District
August Pine Ridge R.C. SchoolProject Type: School BuildingEstimated Investment: $85,000.00Location: August Pine Ridge VillageOrange Walk District
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OUR PARTNERS
GOVERNMENT OF BELIZE
POWABELIZE
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