financial statements and independent auditor’s … 2008_march26_sekna... · number:...

Secretariat Nasional Forum Indonesia Untuk Transparansi Anggaran (National Secretariat of Indonesian Forum for Budget Transparency)

FINANCIAL STATEMENTS

AND INDEPENDENT AUDITOR’S REPORT

FOR YEARS ENDED ON

DECEMBER 31, 2008

Logo

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Registered Public Accountant

Secretariat Nasional Forum Indonesia Untuk Transparansi Anggaran

FINANCIAL STATEMENTS AND

INDEPENDENT AUDITOR’S REPORT

FOR YEARS ENDED ON DECEMBER 31, 2008

Logo

DDD rrr sss ... TTT HHH AAA LLL IIIBBB DDD AAA EEE NNN GGG MMMAAA TTT TTT EEE MMMMMMUUU

Registered Public Accountant

Gedung Usayana Holding Lt. Ground, Jl. Matraman Raya No. 87 Jakarta 13140 Phone: (62-21) 85901432 – 8515094 Ext. 1607 Direct 8505941 Fax.: 8505941

E-mail: [email protected]

Logo Drs. Thalib Daeng Mattemmu Business Permit: KEP-337/KM.17/1999

Gedung Usayana Holding Lt. Ground, Jl. Matraman Raya No. 87 Jakarta 13140 Phone: (62-21) 85901432 – 8515094 Ext. 1607 Direct 8505941 Fax.: 8505941

E-mail: [email protected]

We conducted our audit in accordance with auditing standards

established by the Indonesian Institute of Accountants. Those

standards require that we plan and perform the audit to obtain

reasonable assurance about whether the financial statements

are free of material interpretation. 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 the management, as well as evaluating the overall financial

statement presentation. We believe that our audits provide a

reasonable basis for our opinion.


Number: 021/TDM-P/I/10

To

Management

Sekertariat Nasional Forum Indonesia Untuk Transparansi Anggaran

We have audited the Balance Sheets of Sekertariat Nasional

Forum Indonesia Untuk Transparansi Anggaran (SEKNA FITRA) as

of December 31, 2008, Activity Report, and cash flow statements

for the years ended on such date. These financial statements are

the responsibility of the Company’s management. Our responsibility

is to express an opinion on these financial statements based

on our audit.

In our opinion, the financial statements referred to above

present fairly, in all material respects, the financial position

of Sekertariat National Forum Indonesia Untuk Transparansi

Anggaran (SEKNAS FITRA) as of December 31, 2008, and the

results of their operations and cash flows for the years ended

on such date in conformity with generally accepted accounting

principles in Indonesia.

Sealed and signed

Accountant License No. 98.1.0551

Drs. THALIB DAENG MATTEMMU

Reg Neg D-692

Jakarta, January 30, 2010

Sekertariat National Forum Indonesia Untuk Transparansi Anggaran (SEKNAS FITRA)

TABLE OF CONTENT

INDEPENDENT AUDITOR’S REPORT – 31 December 2008 for year ended

on such date.

FINANCIAL STATEMENTS – For years ended on December 31, 2008

and 2007

Financial Statements 1

Activity Report 2

Cash Flow Statements 3

Note to Financial Statements 4

Sekertariat National Forum Indonesia Untuk Transparansi Anggaran FINANCIAL STATEMENTS

For years ended on December 31, 2008 and 2007

1

Note 2008 2007

ASSETS

CURRENT ASSETS

Cash and Cash Equivalent 2b, e, 3 131,144,830 104,789,890

Business Receivables 2c, f, 4 61,277,820 26,729,100

Prepaid Expenses 2i, 5 51,666,667 -

Total Current Assets 244,089,317 131,518,990

OTHER ASSETS 6 52,247,390 -

Total Assets 296,336,707 131,518,990

NET ASSETS AND LIABILITY

CURRENT LIABILITY

Business Payables 7 26,966,480 26,529,000

Tax Payables 8 2,031,000 -

Other payables 9 1,003,000 3,000

Total Current Liability 30,000,480 26,532,000

NET ASSETS 10 266,336,227 104,986,990

Total Liability and Equity 296,336,707 131,518,990

See notes to the financial statements which form an inseparable part of the financial statements.

Sekertariat National Forum Indonesia Untuk Transparansi Anggaran ACTIVITY REPORT


2

Note 2008 2007

BUSINESS REVENUES

Total Business Revenues 2h, 11 747,333,950 458,935,800

747,333,950 458,935,800

BUSINESS EXPENSES 2h, 12 587,794,333 376,470,480

Total Business Expenses 587,794,333 376,470,480

BUSINESS PROFIT (LOSS) 159,539,617 82,465,320

OTHER INCOMES (EXPENSES) 2h, 13 932,950 3,002,650

PROFIT (LOSS) BEFORE TAX 160,472,567 85,467,970

Income Tax Expenses

Present Tax 2i - -

Deferred Tax Expenses 2i - -

CHANGE OF NET ASSETS 160,472,567 85,467,970


Sekertariat National Forum Indonesia Untuk Transparansi Anggaran CASH FLOW STATEMENTS


3

2008 2007

CASH FLOW FORM OPERATION

Change of Net Assets 160,472,567 85,467,970

Adjustment to Reconcile net profit into cash obtained from

operation:

Income Tax - -

Change of Assets and Operation Liability

(Increase)/Decrease of Business Receivables (34,548,720) 1,040,500

(Increase)/Decrease of Prepaid Expenses (51,666,667)

(Increase)/Decrease of Custody Fund (52,247,390)

Increase/(Decrease) of Business Payables 437,480 (96,976,000)

Increase/(Decrease) of Tax Payables 2,031,000 -

Increase/Decrease of Other Payables 1,000,000 3,000

Net Cash obtained from Operation 25,478,270 (10,464,530)

CASH FLOW FROM INVESTMENT

Assets Sale Price - -

Cash flow used for investment - -

CASH FLOW FROM FUNDING ACTIVITY

Balance Correction of retained earnings beginning of year 876,670 -

Cash flow obtained (used) from funding activity 876,670 -

INCREASE (DECREASE) OF CASH AND CASH EQUIVALENT 26,354,940 (10,464,530)

CASH AND CASH EQUIVALENT BEGINNING OF YEAR 104,789,890 115,254,420

CASH AND CASH EQUIVALENT END OF YEAR 131,148,830 104,789,890


Sekertariat National Forum Indonesia Untuk Transparansi Anggaran NOT E T O F INANC IAL S T AT E ME NT S


4

1. GENERAL

A. Corporate Incorporation

Forum Indonesia untuk Transparansi Anggaran/Indonesian

Forum for Budget Transparency (FITRA) was established

in Jakarta with Notary Deed No. 6 dated September 20,

1999, drawn up before Henry Siregar, SH.

FITRA is an organization which is engaged in the field

of social control for transparency of state budget

processes. This organization is autonomous, non-profit,

and independent in conducting its activities.

Vision of FITRA is “To Materialize People’s Sovereignty

over Budget”

Mission of FITRA:

- Achievement Implementation of transparency and

accountability in planning, implementation and

control of state budget.

- Achievement of state budget which has basis and

orientation on people’s need.

- As reference for discourse and movement of budget

transparency in and for Indonesia.

Seknas FITRA is domiciled in Jl. Duren Tiga Selatan No.

68a, South Jakarta.

b. Organization Structure of the Foundation

National Board



5

Chairman : Dian Rahardjo

Vice Chairman : Teten Masduji

Secretary : Hana Satriyo

Vice Secretary : Ismail Amir

Member : Ribut Susanto

Member : Deddy Prihambudi

Member : Safarudin Siregar

Financial Report is prepared in accordance with accounting

principles and practices of nonprofit organization

arranged based on PSAK No. 45 regarding Non-profit

Organization Reporting. Cash flow report presents incomes

and payments of cash and cash equivalents classified

into operational activities, investment and funding.

Organizational Structure of National Secretary of FITRA

Secretary General : Yuna Farhan

Office Manager : Nurjana

Politic Division of

State Budget : Arif Nur Alam

Advocacy and Network

Strategy Division : Sri Nila Wati

Resource Unit : Yeni Sucipto

2. ACCOUNTING PRINCIPLES SUMMARY

a. Basis of Financial Report Composition



6

Cash flow statements and operational activities are

presented by indirect method.

b. Cash and Cash Equivalent

Cash and cash equivalent consists of petty cash, cash

at bank, and term deposit with period of 3 (three) months

or less since placement and not being used as security

of debt and not limited in use.

c. Business Receivables and Doubtful Receivables

Business receivables is acknowledged and presented in

the amount of their invoices.

The company does not determine amortization of doubtful

receivables based on interview, the management is assured

that all receivables are collectible therefore no reserve

is needed for such receivables.

d. Inventories

Inventories are stated in the lower value between

acquisition price and realizable net value. Acquisition

of inventories are calculated based on MPKP method (Fist

In First Out). Acquisition value cover costs to bring the

inventories to the location and present condition.

e. Stock and Commercial Papers

Stock and commercial papers are recorded and valued in

lower value between purchase price and market price

(COMWIL), any depreciation of market price and any reverse

of such depreciation is recorded and entered in



7

calculation report of joint business and loss or profit

over issued stocks.

f. Transactions of related parties

The Company conducts transactions with several related

parties. In accordance with Financial Accounting Standard

Statement (PSAK) No. 7 regarding “Disclosure of Related

Parties”, related parties are defined as follows:

1. Company through one or more intermediaries controls

or is controlled by or under joint control with

reporting company (including holding companies,

subsidiaries, and fellow subsidiaries).

2. Associated company.

3. Individual who owns, directly or indirectly, interest

4. Key employees, those who have authority and

responsibility to plan, lead and control the

company’s activities including members of board of

commissioners, board of directors, and manager of

the company and immediate family of the persons.

5. The company where substantial interest in vote is

owned either directly or indirectly by any person

mentioned in point 3 and 4 or the person has

significant role on the company. This includes the

companies who have key management personnel as

reporting company.



8

All transactions with related parties are conducted

based on acquisition price and normal condition such as

transaction with third parties.

g. Fixed Assets

Fixed assets are recorded in their acquisition value

less by accumulated depreciation. Unless for land

depreciated, depreciation is calculated by using straight

line method based on estimated economic life of fixed

asset as follows:

% Age (Years)

Permanent building : 5 20

Impermanent building : 10 10

Machinery and equipment : 25 4

Office inventory : 25 4

Vehicle : 12.5 8

Insignificant costs for repair and maintenance is charged

on their occurrence. Whereas substantial costs which can

strengthen significantly assets condition are capitalized.

Fixed assets no longer used or sold, recorded value and

accumulated depreciation is excluded from fixed assets

category and profit and loss are recorded in private

and loss statements of relevant year.

Lease transaction is classified as capital lease), if

meeting all criteria required by PSAK No. 30,” Accounting

of Lease”. If one of the criteria is not fulfilled,



9

then transaction of lease is classified as operating

lease. Lease asset with option is presented in the

balance as part of fixed assets in the amount of cash

value of all payment of lease during period of lease.

Depreciation of fixed asset of lease is counted using

decreasing balance method based on economic life

estimate of same assets through direct ownership. Lease

payables are presented in the amount of cash value of

all payment of lease.

In accordance with PSAK No. 47 regarding “Land Accounting”

effective as of January 1, 1999, acquisition value of

right over land obtained since 1999 excludes costs

arising from such acquisition or extension of the land.

h. Acknowledgment of incomes and expenses

Incomes and expenses in relation to a transaction/

specific event is acknowledged on Accrual Basis, unless

check service is recorded at acceptance or payment of

cash. This process refers to connection of incomes and

expenses, expenses measured reliably if other conditions

for income acknowledgement can be fulfilled.

i. Taxation

Tax liability and tax credit are presented in balance

after offset. Present tax obligation is determined based

on taxable profit of related period counted based on

applicable tax tariff. Asset and liability of deferred



10

tax is acknowledged over the consequence of subsequence

tax period arising from difference of total recorded

assets and liability.

Deferred tax liability is acknowledged for temporary

difference which can be deducted, as long as there is

great possibility that it can be utilized to deduct

future taxable profit.

Deferred tax is measured using applicable tax tariff or

substantially valid on balance date, deferred tax is

debited or credited in Business Revenue Report.

3. CASH AND CASH EQUIVALENT

This account constitute balance of cash and cash equivalent

with details as follows:

2008 2007

Cash

Cash of Seknas FITRA 70,517,350 -

Petty cash - -

Total 70,517,350 -

Bank

Bank Mandiri 1290005136110 - 1,072,390

Bank Mandiri 1270004741276 556,000 103,717,500

Mandiri Giro 1270004867097 60,071,480 -

Total 60,627,480 104,789,890

Total Cash and Cash Equivalent 131,144,830 104,789,890

4. Other receivables

This account constitutes balance of other receivables with

details as follows:



11

2008 2007

Rp Rp

Employee Receivables

Less than 1 (one) year

Arief Rakhman M 738,000 588,000

Arif Nur Alam - 1,892,600

Eva Mulyanti - 450,000

Friska 500,000 100,000

Jelita Damanik 898,000 898,000

Kusmiatun - 895,000

Maulana 500,000 -

Nurjana - -

Roy Salama - 250,000

Ucok Sky Kadafi - 1,399,000

Yuna Farhan - -

Above 1 (one) year

Arief Rakhman M - 150,000

Arif Nur Alam 1,892,600 443,000

Endah Sricahyani S - 500,000

Eva Mulyanti 700,000 3,000,000

Friska 5,000,000 -

Kusmiatun - 1,800,000

Roy Salama 250,000 -

Sri Nilawati 4,550,000 -

Ucok Sky Kadafi 1,339,000 -

External Receivables 5,270,500 5,395,000

Program Receivables 39,639,720 8,968,500

Total Other Receivables 61,277,820 26,729,100

5. Prepaid Expenses

This account constitutes rent of office building for 2

years with outstanding value not yet charged for 2008

amounting Rp. 51,666,667.



12

6. OTHER ASSETS

This account constitutes Other Assets as of December 31,

2008 and 2007 are as follows:

2008 2007

Rp Rp

Custody Fund 5,675,000 -

Reserve Fund 45,500,000 -

Others 1,072,390 -

Total Other Assets 52,247,390 -

7. BUSINESS PAYABLES

This account constitutes account payables of Seknas Fitra

on the use of Program fund, total account payable as of

December 31, 2008 and 2007 are respectively Rp. 26,966,480

and Rp. 26,529,000.-

8. TAX PAYABLES

This account constitutes Income Tax Payable Article 21 during

period of December 2008 and 2007 with details as follows:

2008 2007

Rp Rp

Income Tax Article 21 year 2007 165,000 -

Income Tax Article 21 year 2008 1,866,000 -

Total Tax Payables 2,031,000 -

For PPh payable article 21 year 2008 has been paid on April

27, 2009 whereas for PPh payable article 21 year 2007 was

paid on April 27, 2009.



13

9. OTHER PAYABLES

This account constitutes Corporate Payables to Employees

and Individuals for period of December 31, 2008 and 2007

with details as follows:

2008 2007

Rp Rp

Yuna Farhan 3,000 3,000

Endah Sricahyani S 1,000,000 -

Total Other Payables 1,003,000 3,000

10. NET ASSETS

Position of net assets of Seknas Fitra as of December 31,


2008 2007

Rp Rp

Profit Reserve of Previous year 104,986,990 104,986,990

Profit Correction of Previous Year 876,670 -

Profit of Current Year 160,472,567 -

Total Net Assets 266,336,227 104,986,990

11. BUSINESS INCOME

This account constitutes Income account for period of

January 1 until December 31, 2008 and 2007 with details as

follows:

2008 2007

Rp Rp

Contribution of PGR 349,182,520 33,880,000

Contribution of TAF-YPPMI 50,112,500 61,725,300



14

Contribution of TAF-YASMIB 38,350,000 65,047,500

Contribution of TAF-SEKNAS FITRA 63,723,750 66,000,000

Contribution of FF 50,200,000 157,950,000

Contribution of TIFA 12,681,700 70,513,000

Contribution of DRSP 181,583,480 -

Fund rising 1,500,000 3,820,000

Total Business Income 747,333,950 458,935,800

12. Business expenses

This account constitutes Business Expenses for a period of

January 1, until December 31, 2008 and 2007 with details as

follows:

2008 2007 Rp Rp

Transportation 32,057,600 14,417,400 Stationary 5,582,540 268,000 Photocopy 3,466,750 356,730 Logistics 1,860,490 1,750,250 Newspaper Subscription 1,700,000 1,604,500 Donation 2,600,000 7,280,000 Communication 25,638,390 3,819,350 Electricity/water 3,287,350 3,856,600 Consumption 6,024,150 2,150,170 Translation 3,535,000 175,000 Maintenance (service) 4,502,000 3,725,000 Document delivery 932,500 298,000 Office rent 10,333,333 - Wage 405,346,830 235,987,000 Cleanliness/Security 785,000 480,000 Others 29,536,250 7,879,800 Honorarium 23,100,000 48,040,000 Publication Materials 7,629,000 14,610,250 Office Supplies 3,223,000 2,525,450 Perdiem and Accommodation 8,881,150 9,274,980 Daily Needs 310,500 362,000 Equipment 7,450,000 17,610,000 Bank Fee 12,500 - Total Business Expenses 587,794,333 376,470,480



15

13. OTHER INCOMES (EXPENSES)

This account constitutes Other Incomes (Expenses) for

period of January 1 to December 31, 2008 and 2007 with

details as follows:

2008 2007 Rp Rp

Other incomes Incomes of Check service 1,881,170 3,860,810

Other Expenses Bank Administration Cost (948,220) (858,160)

Total 932,950 3,002,650

14. PENSION BENEFIT PROGRAM

On 20 June 2000, Minister of Manpower of the Republic of

Indonesia issued Decree No. KEP-150/MEN/2000 regarding

“Settlement of Employment Termination and Determination of

Severance Pay, Past Service Gratuity, and Compensation by

Company” which requires foundation to pay severance pay,

gratuity, and compensation in case of employment termination,

based on length of service and employee salary and in

accordance with the provision as contained in the decree.

The Financial Statements for year ended on December 31,

2008 excludes accrual on such service. The management is

assured that accrual calculation of employee gratuity does

not affect significantly on financial statements, because

the Foundation has no intention to do employment termination

of its permanent employee in the next year and from past

experience the Company shows that the company has low

change of the employees.

INDEPENDENT AUDITOR’S REPORT ON

FINANCIAL STATEMENTS OF SEKRETARIAT NASIONAL FORUM INDONESIA UNTUK

TRANSPARANSI ANGGARAN (NATIONAL SECRETARIAT OF INDONESIAN FORUM

FOR BUDGET TRANSPARANCY) FOR YEARS ENDED ON

AS IF DECEMBER 2007 AND 2006

Logo

REGISTERED PUBLIC ACCOUNTANTS

AAA HHH MMMAAA DDD ,,, RRR AAA SSS YYY IIIDDD,,, HHH IIISSS BBB UUU LLL LLL AAA HHH &&& JJJ EEE RRR RRR YYY

Jl. Kepu Barat No. 90-91 B Kemayoran Central Jakarta 10620

Phones: (021) 4247872, 4264971, Fax: (021) 4240080

Email: [email protected]

Branch Office:

Jl. Rajamantri I No. 2 Bandung

Phones: 022.7303355 Fax: 022.7303355

mailto:[email protected]�

NATIONAL SECRETARIAT OF INDONESIAN FORUM FOR BUDGET

TRANSPARENCY

TABLE OF CONTENT


FINANCIAL STATEMENTS

1. Net Assets Statements 1

2. Change of Net Asset Calculation Statements 2

3. Cash Flow Statement 3

4. Financial Statements Analysis 4

NOTE TO FINANCIAL STATEMENTS

1. General 5

a. Incorporation

b. Business Field

2. Accounting Principles Summary 6

3. Explanation of Net Asset Accounts 10

4. Explanation of Net Asset Calculation Accounts 12

Logo AAA HHH MMM AAA DDD ,,, RRR AAA SSS YYY III DDD ,,, HHH IIISSS BBB UUU LLL LLL AAA HHH &&& JJJ EEE RRR RRR YYY

REGISTERED PUBLIC ACCOUNTANTS NIU.KAP: 586/KM.I/2007 & 800/KM.I/2007

Jl. Kepu Barat No. 90-91 B Kemayoran Central Jakarta 10620. Phones: (021) 4247872, 4264971, Fax: (021) 4240080

Email: [email protected] Jl. Rajamantri I No. 2 Bandung. Phones: 022.7303355 Fax: 022.7303355


Number:945C/ARHJ-RD/MON-SNFI/6A/08.09

To

National Board & Management

Sekertariat Nasional Forum Indonesia Untuk Transparansi Anggaran

in

We conducted our audit in accordance with auditing standards

established by the Indonesian Institute of Accountants. Those

standards require that we plan and perform the audit to obtain

reasonable assurance about whether the financial statements

are free of material interpretation. 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

Jakarta

We have audited the Net Assets Statements of Sekertariat

Nasional Forum Indonesia Untuk Transparansi Anggaran as of

December 31, 2008, Net Assets Change Statements and cash flow

statements for the years ended on such date. These financial

statements are the responsibility of the Company’s management.

Our responsibility is to express an opinion on these financial

statements based on our audit.

by the management, as well as evaluating the overall financial

statement presentation. We believe that our audits provide a

reasonable basis for our opinion.

In our opinion, the financial statements referred to above

present fairly, in all material respects, the financial position

of Sekertariat National Forum Indonesia Untuk Transparansi

Anggaran as of December 31, 2007, and the results of their

operations and cash flows for the years ended on such date in

conformity with generally accepted accounting principles in

Indonesia.

Sealed and signed

NIAP: 98.1.0408 DR. Achmad R.K, Ak.MM

Jakarta, August 21, 2009

Sekretariat Nasional Forum Indonesia Untuk Transparansi Anggaran

(Seknas FITRA) NET ASSETS STATEMENTS

As of December 31, 2007 and 2006 (Stated in Rupiahs)

1

Note December 31, 2007 December 31, 2006

ASSETS

Current Assets

Cash and Bank 3.1. 104.789.890,00 115.254.420,00

Account Receivables 3.2. 26.726.100,00 27.769.600,00

Total Current Assets 131.515.990,00 143.024.020,00

AVAILABLE ASSETS 131.515.990,00 143.024.020,00

LIABILITY

Short Term Liability

Operation Debts 3.3. 26.529.000,00 123.505.000,00

Total Short Term Liability 26.529.000,00 123.505.000,00

NET ASSETS 104.986.990,00 19.519.020,00


Sekretariat Nasional Forum Indonesia Untuk Transparansi Anggaran (Seknas FITRA)

C HANG E OF NE T AS S E D C AL C UL AT ION S T AT E ME NT Period of January 1 to December 31, 2007 and 2006

(Stated in Rupiahs)

2

Note December 31, 2007 December 31, 2006

INCOMES

Incomes 4.1. 458.935.800,00 411.135.950,00

Gross Profit 458.935.800,00 411.135.950,00

EXPENSES

Direct Expenses 4.2. 374.470.480,00 332.211.060,00

Operation Profit/(Loss) 82.465.320,00 78.924.890,00

OTHER INCOMES (EXPENSES)

Other incomes 4.3. 3.860.810,00 2.801.230,00

Other expenses 4.4. (858.160,00) (662.740,00)

Other Incomes (Expenses) 3.002.650,00 2.138.490,00

Change of Net Assets 85.467.970,00 81.063.380,00

Estimate of income tax 0.00 0,00

Net asset of Beginning Period 4.5. 19.519.020,00 (61.544.360,00)

Total net assets 104.986.990,00 19.519.020,00


Sekretariat Nasional Forum Indonesia Untuk Transparansi Anggaran (Seknas FITRA)

C AS H F L OW S T AT E ME NT S For years ended on December 31 2007 and 2006

(Stated in Rupiahs)

3

DESCRIPTION 31-Dec-07 31-Dec-06

Operation

- Change of Net Assets

- Net Assets 85.467.970 81.063.380

- (Increase)/Decrease of Receivables 1.043.500 (76.596.950)

- (Increase)/Decrease of Other Receivables 0 0

- (Increase)/Decrease of Prepaid Tax 0 00

- (Increase)/Decrease of Prepaid Expenses 0 0

- (Increase)/Decrease of Advances 0 0

- (Increase)/Decrease of Inventories 0 0

- (Increase)/Decrease of Other Assets 0 0

- Increase/(Decrease) Operation Debts (96.976.000) 23.505.000

- Increase/(Decrease) of Prepaid Incomes 0 0

- Increase/(Decrease) of Expenses Payables 0 0

- Increase/(Decrease) of Other Liabilities 0 0

Net Cash Flow of Operations (10.464.530) 27.971.430

Investment Activity

- (Increase)/Decrease of Fixed Assets 0 0

Funding Activity

- Increase/(Decrease) of Capital Reserve 0 0

- Increase/(Decrease) of Capital Payment 0 0

Increase/(Decrease) of Net Cash & Cash Equivalent (10.464.530) 27.971.430

Cash & Cash Equivalent Beginning Period 115.254.420 87.282.990

Cash & Cash Equivalent End Period 104.789.890 115.254.420


FORUM INDONESIA FOR BUDGET TRANSPARENCY FINANCIAL STATEMENT ANALYSIS

YEAR 2007 AND 2006

4

NO DESCRIPTION YEAR 2007

YEAR 2006

1.

CURRENT ASSET

LIQUIDITY = ------------------------------ x 100% = CURRENT LIABILITY

131.515.990,00 ---------------------- x 100% = 495.74% 26.529.000,00

143.024.020,00 --------------------- x 100% = 115.80% 123.505.000,00

2.

TOTAL ASSETS SOLVABILITY= ----------------------- x 100 % =

TOTAL LIABILITY

131.515.990,00 ---------------------- x 100% = 495.74% 26.529.000.00

143.024.020,00 ---------------------- x 100% = 115.80% 123.505.000,00

3.

OUTSTANDING BUSINESS INCOMES RENTABILITY = ----------------------------------------------------- x 100 % =

EQUITY

85.467.970,00 -------------------- x 100% = 81.41% 104.986.990,00

81.063.380,00 -------------------- x 100% = 415.30% 19.519.020,00

S E K R E T AR IAT NAS IONAL F OR UM INDONE S IA UNT UK T R ANS P AR ANS I ANG G AR AN

(S E K NAS F IT R A) NOT E T O F INANC IAL S T AT E ME NT S P E R 31 DE S E MB E R 2007 AND 2006

5

1. GENERAL

a. Corporate Incorporation

Forum Indonesia untuk Transparansi Anggaran (FITRA) was

established in Jakarta with Notary Deed No. 6 dated

September 20, 1999, drawn up before Henry Siregar, SH.

FITRA is an organization which is engaged in the field

of social control for transparency of state budget

processes. This organization is autonomous, non-profit,

and independent in conducting its activities.

Vision of FITRA is “To Materialize People’s Sovereignty

over Budget”

Mission of FITRA:

- Achievement Implementation of transparency and

accountability in planning, implementation and

control of state budget.

- Achievement of state budget which has basis and

orientation on people’s need.

- As reference for discourse and movement of budget

transparency in and for Indonesia.

Seknas FITRA is domiciled in Jl. Duren Tiga Selatan No.

68a, South Jakarta.

b. Board of Commissioners, Board of Directors and Employees

National Board

Chairman : Dian Rahardjo



6

Vice Chairman : Teten Masduji

Secretary : Hana Satriyo

Vice Secretary : Ismail Amir

Member : Ribut Susanto

Member : Deddy Prihambudi

Member : Safarudin Siregar

Organizational Structure of National Secretary of FITRA

-Secretary General : Yuna Farhan

-Office Manager : Nurjana

2. ACCOUNTING PRINCIPLES SUMMARY

a. Basis of Financial Report Composition

Financial Report is prepared in accordance with generally

accepted accounting principles and practices in Indonesia.

The Financial Statements are prepared based on the

concept of acquisition cost. The financial statements

are prepared on accrual basis. Cash flow report presents

incomes and payments of cash and cash equivalents

classified into operational activities, investment and

funding. Cash flow statements and operational activities

are presented by indirect method.

b. Cash and Cash Equivalent

Cash and cash equivalent consists of petty cash, cash

at bank, and deposit.



7

c. Amortization of Doubtful Receivables

The Company determines amortization of doubtful receivables

based on analysis the condition of account receivable

of customers at the end year.

d. Inventories

Inventories are stated based on acquisition value and

recording is done periodically.

e. Prepaid expenses

Prepaid expenses are charged on their economic value.

f. Transactions with related parties

The Company conducts transactions with several related

parties. In accordance with Financial Accounting Standard

Statement (PSAK) No. 7 regarding “Disclosure of Related

Parties”, related parties are defined as follows:

1. Company through one or more intermediaries controls

or is controlled by or under joint control with

reporting company (including holding companies,

subsidiaries, and fellow subsidiaries).

2. Associated company.

3. Individual who owns, directly or indirectly, interest

to vote in the company which affect significantly and

immediately family of the individual (immediately

family shall means those who are expected to affect

or to be affected by the individual in their

transaction with reporting company.



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4. Key employees, those who have authority and responsibility

to plan, lead and control the company’s activities

including members of board of commissioners, board

of directors, and manager of the company and immediate

family of the persons.

5. The company where substantial interest in vote is

owned either directly or indirectly by any person

mentioned in point 3 and 4 or the person has

significant role on the company. This includes the

companies who have key management personnel as

reporting company.

All transactions with related parties are conducted

based on acquisition price and normal condition such as

transaction with third parties.

g. Fixed Assets

Fixed assets are recorded in their acquisition value

less by accumulated depreciation. Unless for land

depreciated, depreciation is calculated by using straight

line method based on estimated economic life of fixed

asset as follows:

Office inventory : 4 years

Vehicle : 4 years

Insignificant costs for repair and maintenance is charged

on their occurrence. Whereas substantial costs which



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can strengthen significantly assets condition are

capitalized. Fixed assets no longer used or sold, recorded

value and accumulated depreciation is excluded from

fixed assets category and profit and loss are recorded

in private and loss statements of relevant year.

Lease transaction is classified as capital lease), if

meeting all criteria required by PSAK No. 30, “Accounting

of Lease”. If one of the criteria is not fulfilled,

then transaction of lease is classified as operating

lease. Lease asset with option is presented in the balance

as part of fixed assets in the amount of cash value of

all payment of lease during period of lease. Depreciation

of fixed asset of lease is counted using decreasing

balance method based on economic life estimate of same

assets through direct ownership. Lease payables are

presented in the amount of cash value of all payment of

lease.

In accordance with PSAK No. 47 regarding “Land Accounting”

effective as of January 1, 1999, acquisition value of

right over land obtained since 1999 excludes costs

arising from such acquisition or extension of the land.

h. Acknowledgment of incomes and expenses

Business incomes is acknowledged at the time of submission

to customers. Expenses are acknowledged according to

its economic life in the related year on accrual basis.



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i. Taxation

Income tax is acknowledged with tax liability method.

By this method, income tax is determined based on taxable

income for such year.

j. Income Tax Benefit (expenses)

Until 2005, the Company applies deferred method according

to PSAK No. 46 regarding “Income Tax Accounting”. This

deferred tax method is conducted to reflect tax effect

in the future for time difference between commercial

and fiscal reporting and accumulated fiscal loss

represented net in assets position and liability.

3. EXPLANATION OF NET ASSET ACCOUNTS

3.1 CASH AND CAHS EQUIVALENT

Estimation of Cash and Cash Equivalent as of December 31,


31-Dec-07

Rp

31-Dec-06

Rp

Cash

Cash of Seknas FITRA 0,00 44.932.030,00

Bank

Bank Mandiri 1290005136110 1.072.390,00 70.322.390,00

Bank Mandiri 1270004741276 103.717.500,00 0.00

Total 104.789.890,00 115.254.420,00

3.2 ACCOUNT RECEIVABLES

Estimates of Account Receivables as of December 31, 2006

and 2005 are as follows:



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31-Dec-07

Rp

31-Dec-06

Rp

Staff Loan

Arief Rakhman M 588.000,00 450.000,00

Arif Nur Alam 1.892.600,00 1.223.600,00

Eva Mulyabti 450.000,00 500.000,00

Friska 100.000,00 100.000,00

Jelita Damanik 898.000,00 898.000,00

Kusmiatun 895.000,00 450.000,00

Roy Salama 250.000,00 0,00

Ucok Sky Kadafi 1.399.000,00 1.399.000,00

Yuna Farhan (3.000,00) 0,00

LONG TERM

Arief Rakhman M 150.000,00 800.000,00

Arif Nur Alam 443.000,00 0,00

Endah Sricahyani S 500.000,00 (500.000,00)

Eva Mulyabti 3.000.000,00 0,00

Kusmiatun 1.800.000,00 (300.000,00)

EXTERNAL RECEIVABLES 5.395.000,00 9.395.000,00

PROGRAM RECEIVABLES 8.968.500.00 2.801.500,00

CUSTODY FUND 0,00 10.552.500,00

Total 26.726.100,00 27.769.000,00

3.3 LIABILITY

Liability Estimate as of December 31, 2006 and 2005 are

as follows:

31-Dec-07

Rp

31-Dec-06

Rp

Liability of Seknas FITRA 25.529.000,00 123.505.000,00

Total 25.529.000,00 123.505.000,00



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4. EXPLANATION OF NET ASSET CALCULATION ACCOUNTS

4.1 INCOMES

Total incomes period of January 1 to December 31, 2006


31-Dec-07

Rp

31-Dec-06

Rp

Contribution of PGR 33.880.000,00 0,00

Contribution of TAF-YPPMI 61.725.300,00 122.555.500,00

Contribution of TAF-YASMIB 65.047.500,00 70.634.000,00

Contribution of TAF-NTB-ICW 0,00 155.119.500,00

Contribution of NTT PIAR 0,00 20.826.950,00

Contribution of TAF-SEKNAS FITRA 66.000.000,00 0,00

Contribution of FF 157.950.000,00 42.000.000,00

Contribution of TIFA 70.513.000,00 0,00

Fund rising 3.820.000,00 0,00

Total 458.935.800,00 411.135.950,00

4.2 BUSINESS EXPENSES

Total expenses period of January 1 to December 31,


31-Dec-07

Rp

31-Dec-06

Rp

INSTITUTIONAL SUPPORT

Transportation 14.417.400,00 13.830.930,00

Stationary 268.000,00 1.330.250,00

Photocopy 356.730,00 2.797.060,00

Logistics 1.750.250,00 1.342.200,00

Newspaper Subscription 1.604.500,00 1.574.500,00

Donation 7.280.000,00 1.927.130,00

Communication 3.819.350,00 14.175.950,00

Electricity/water 3.856.600,00 2.485.460,00

Consumption 2.150.170,00 2.354.510,00

Translation 175.000,00 510.000,00



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Maintenance (service) 3.725.000,00 1.755.000,00

Document delivery 298.000,00 793.100,00

Wage 235.987.000,00 199.600.000,00

Cleanliness/Security 480.000,00 140.000,00

Others 7.879.800,00 3.284.870,00

Honorarium 48.040.000,00 13.250.000,00

Publication Materials 14.610.250,00 33.010.700.00

Office Supplies 2.525.450,00 1.052.900,00

Perdiem and Accommodation 9.274.980,00 16.122.000,00

Daily Needs 362.000,00 450.000,00

Equipment 17.610.000,00 20.424.500,00

Total 376.470.480,00 332.211.060,00

4.3 OTHER INCOMES

Total other incomes period of January 1 to December

31, 2006 and 2005 are as follows:

31-Dec-07

Rp

31-Dec-06

Rp

Bank Interest

Bank Mandiri 1290005136110 0,00 2.801.230,00

Bank Mandiri 1270004741276 3.860.810,00 0,00

Total 3.860.810.00 2.801.230,00

4.4 OTHER EXPENSES

Other incomes period of January 1 to December 31, 2006


31-Dec-07

Rp

31-Dec-06

Rp

Bank Charge

Bank Mandiri 1290005136110 0,00 662.740,00

Bank Mandiri 1270004741276 858.160,00 0,00

Total 858.160,00 662.740,00



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4.5 NET ASSETS OF BEGINNING PERIOD

Total net assets of beginning period for period of

January 1 to December 2006 and 2005 are as follows:

31-Dec-07

Rp

31-Dec-06

Rp

Net Asset of Beginning Period 19.519.020,00 (61.544.360,00)

Total 19.519.020,00 (61.544.360,00)

I do hereby certify that the above is a true and accurate translation of the Indonesian document presented to me.

Jakarta, March 26, 2010

F a t c h u r o z a k Sworn & Authorized Translator

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