Reserves and funds
The € 0.03 million surplus of income over expenditures can be attributed to the continuity reserve. At the same time, the continuity reserve was reduced by € 0.8 million in 2013, which was added to the earmarked funds for the Dutch Postcode Lottery grant not yet spent in 2013. In accordance with the Accounting Guideline RJ650, earmarked funds have a designated purpose determined by a donor.
The earmarked reserve of € 0.1 million dating from 2012 was spent and released in 2013 and was added to the continuity reserve. In accordance with RJ650, earmarked reserves have a designated purpose determined by the board.
The appropriation of the surplus resulted in a continuity reserve of € 5.0 million at the end of 2013. The continuity reserve ensures that War Child is able to survive adverse financial incidents. You can find more information about the purpose and determination of War Child’s continuity reserve in Managing financial risks.
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