ANKATAF06-Annual Report 2006 incl audit report

THE ANIKA FOUNDATION ABN 48 961 479 647 (Supporting Research into Adolescent Depression) st1 Financial Report for the period from 30 March 2005 to 30 June 2006 The Anika Foundation ABN 48 961 479 647 CONTENTS Page Chairman’s Report 3 Director’s Report 6 Lead auditor’s independence declaration 8 Income Statement 9 Balance Sheet 10 Statement of recognised income and expense 11 Statement of Cash Flows 12 Notes to the financial statements 13 Director’s declaration 17 Independent audit report 18 2 The Anika Foundation ABN 48 961 479 647 CHAIRMAN’S REPORT On behalf of the board, I am delighted to present my Chairman’s report for 2005-06. The aims of the foundation are:  In phase 1, to raise an endowment fund of $500,000  In phase 2, to distribute grants from the income of the fund (around $20,000 if the endowment fund is achieved) for supporting research into adolescent depression and suicide.  To raise awareness in the community generally about the vastness of the issue. The past year has exceeded even my optimism about the willingness of the community to embrace the issue of adolescent depression and suicide. We had thought that it might take 2 to 3 years to raise an endowment fund of $500,000, to support annual grants of around $20,000 p.a. in perpetuity. With the momentum we have achieved, it seems as though the first phase of our ...