Page 105 - CA Sri Lanka Integrated Annual Report 2023

11 DESIGNATED FUNDS
11.1 Summary
Balance Contribution (Payments) (Transfers to Balance Balance
as at from the reserves) as at as at
1.1.2023 Institute 31.12.2023 31.12.2022
Rs.'000 Rs.'000 Rs.'000 Rs.'000 Rs.'000 Rs.'000
Designated scholarship funds 11.2 64,234 16,607 (13,420) (21,424) 45,997 64,234
Other designated funds 11.3 3,466 687 - - 4,153 3,466
Total designated funds 67,700 17,294 (13,420) (21,424) 50,150 67,700

11.2 Designated scholarship funds
Balance Contribution (Payments) (Transfers to Balance Balance
as at from the reserves) as at as at
1.1.2023 Institute 31.12.2023 31.12.2022
Rs.'000 Rs.'000 Rs.'000 Rs.'000 Rs.'000 Rs.'000

L A Weerasinghe memorial needy scholarship fund 4,100 2,838 (1,754) 5,184 4,100
Merit scholarship fund 3,430 3,958 (6,854) 534 3,430
CA Sri Lanka scholarship funds * 35,280 9,812 (4,813) 40,279 35,280
Non- commerce student scholarship fund ** 21,424 - (21,424) - 21,424
Total designated scholarship funds 64,234 16,607 (13,420) (21,424) 45,997 64,234

* CA Sri Lanka scholarship funds consist of scholarship funds for District First, A/L Top Ten, Children of Staff members, Inter School Commerce
Competition, National Conference, Talent and Top Achievers at A/L Tutorial.

** Non commerce student scholarship Fund, formed by designating an investment in Fixed Deposit amounting to Rs. 60 Mn of which interest
income was transferable has been reclassified under Accumulated fund and Reserves with effect from 31st December 2023.
11.3 Other designated funds

Balance Contribution Balance Balance
as at from the as at as at
1.1.2023 Institute 31.12.2023 31.12.2022
Rs.'000 Rs.'000 Rs.'000 Rs.'000
Faculty of Taxation fund 1,058 210 1,268 1,058
Faculty of Auditing fund 1,021 202 1,223 1,021
Publication fund 662 131 793 662
Urgent Issues Task Force fund 725 144 869 725
Total other designated funds 3,466 687 4,153 3,466

CA Sri Lanka Integrated Annual Report 2023 103