Lebanese Institution for the Blind (L. I. B)

Finance

Balance sheet.

Report of the auditor on the balance sheets and accounts 
of the Lebanese Institution   for the Blind
Closed on 31/12/2016
Sin El Fil, 18/02/2017

 Honorable founder and general supervisor of the Lebanese Institution   for the Blind Dr. Issa El-Maalouf,

To carry out the mission entrusted to us by your honorable administration regarding the auditing of the year 2016 activities of        L. I. B,

We have reviewed the attached balance sheet and all the financial statements required for L. I. B closed on 31/12/2016 as well as the expected budget for 2017.

The mentioned financial statements are the responsibility of the management of L. I. B. Our liability is limited to express the opinion on these statements based on our audit activity done in accordance with the common  rules to obtain acceptable conviction that the statements are free from significant mistakes.

Our review included conducting the necessary inspection of some registrations, records and documents evidences of the amounts and disclosures in the financial statements, as well as other auditing procedures that we found appropriate. We believe that our audit is a reasonable basis for our opinion. 

In our opinion, the financial statements present fairly and validly the financial status of L. I. B closed on December 31st, 2016 and the results of its operations for the year ended in accordance with generally accepted accounting principles.

Yours sincerely
Auditor
Prog s.a.r.l.
(signature)

 

Balance sheet of the year 2016



Article

Expenses and charges

Value 

1

Technical devices and special programs for the blind

22.000.000

2

 Raw materials: straw, bamboo, wool

20.000.000

3

Transportation expenses: fuel, car maintenance and insurance

60.000.000

4

10 wire strippers

400.000

5

 Rental fees, amenities, postal fees, phone calls

26.100.000

6

  Eye surgeries

18.500.000

7

 Assistance cost  for  the blinds 

80.000.000

8

Publications, stationery and sundry expenses

150.000

9

 Food aid and medicines

9.950.000

10

 Blind housing expenses

6.000.000

11

 Teacher and staff assistance

11.000.000

12

 Taxes and fees

000

General  total 

Only two hundred fifty four million and one hundred thousand Lebanese Pounds

254.100.000



Article 

Revenues 

Value 

1

Donations 

162.772.000

2

Sold products/ Services 

75.000.000

3

Financial Support from the National Employment Association 

7.228.000

4

Deficit 

9.100.000

General Total 

Only two hundred fifty four million and one hundred thousand Lebanese Pounds

254.100.000

 

The result is 

Revenues: 254,100,000 LBP only two hundred fifty four million and one hundred thousand LBP  

Expenses: 254,100,000 LBP only two hundred fifty four million and one hundred thousand LBP

Deficit: 9.100.000 LBP only nine million and one hundred thousand Lebanese pounds only.

 

The Auditor
Prog s.a.r.l.
(signature)