I present before you the audited accounts of ShreeJagannath Temple Trust,Bengaluru for the year ended 31st March 2015.I would welcome your valued comments on the overall working results of the Trust and your suggestions for further improvement in the performance of the Trust.
At the outset ,I am happy to record that the Trust has shown unprecedented growth under “ gross income” generated during the year .At Rs76.32 lakhs ,it is a new high showing a historic growth of more than 50 % over the previous year’s level of Rs.50.58 lakhs . The gross income includes an amount of Rs.9.53 lakhs as interest received and accrued on investments with Banks against Rs.2.05 lakhs for the previous year.
You are aware ,income to the Trust flows principally from five sources-(a)donations received from devotees across the counter at the Temple and bulk donations from individual devotees and institutions(b)income from Puja service(c)Prasad sevan(d)hundi collections and interest received and accrued on our investments with Banks.Bulk-funds are effort -elastic and constitute a major portion of the income generated.In 2014-15,trustees have mobilised Rs.15 lakhs under this head –which itself is a new record.
Income from other sources( referred to as “walk-in income”) also show satisfactory, if not very promising, growth and contributed to the total income as placed below:
(a)Puja services:Rs.9.56 lakhs (Rs.7.46 lakhs in 2013-14-Increase over 2014 :15%)
(b)Prasad sevan(Trust’s share) :Rs.5.83 lakhs (Rs.5.37 lakhs:10%)
©Hundi Collection-Rs.6.53 lakhs (Rs.5.32 lakhs:23%)
e)Donations excluding Bulk funds : Rs.11.75 lakhs (Rs.12.80 lakhs:-8%)
The total walk-in-income works out to Rs.33.67 lakhs against Rs.30.95 lakhs in the previous year registering a growth of 8% . On the Expenditure side,I will deal with the crucial administrative expenses for the year under review.It accounted for a steep and disconcerting 33% increase at Rs.16.65 lakhs over the previous year which stood at Rs.12.54 lakhs.Areas showing large positive variances are : salary (42%),Rathyatra expenses (20%)Printing and stationery(20%)Food bill (50%)Puja expenses (33%) Additonally,we spent Rs.1,45,681 on Ratnamuda celebrations during the year.
In effect, the average monthly administrative expenditure including the annual religious festivals has gone up from Rs. 1.00 lakh a month (in 2014) to Rs.1.40 lakhs in 2015.The monthly administrative expenditure is expected to exceed Rs.2 lakhs in 2015-16 with increase on expenses on flowers,groceries for daily rituals,further increase in salaries,electricity and large amount incurred on inaugural ceremony .
On the income side,the average monthly “walk-in-income” (excluding bulk funds and interest received from Banks)worked out to Rs.2.80 lakhs.You are aware that the surplus of income over expenditure is ploughed back to strengthen the corpus fund.Corpus fund thus can be strengthened by increasing this surplus and of course by mobilising bulk funds.Asof now this surplus can be termed as just satisfactory though the future appears ominous with quantum increase in the administrative expenses especially in the area of flowers,fruits and other essential puja items required to carry out daily rituals . Guidance for 2015-16:We had spent, large amounts on Temple’s inaugural function in May 2015 as a one time measure and on RathYatra and Durga Puja - all without sponsorship arrangement unlike in the past .This resulted in premature withdrawal of huge amounts of our investments.Though we recovered some bulk funds towards the end,the stress on our corpus fund would remain.With the ever growing administrative expenses and capital expenses on BaiseePahacha,boundarywall,flooring,plumbing ,refurbishing and Kitchen work,we may have to draw large amout of funds by prematurely closing our innvestments in future .This will result in lesser income from “interest” earned and consequentlycould actually leave a negligible surplus of income over expenditure.
We still require more than Rs.1.00 crore to complete the remaining finishing works on the Temple and make some pending payments.
Devotees are in a position to not only mobilise bulk funds from various organisations and high networth -individuals,they can also give us the benefit of “leads” in this area to enable us to translate such leads into generation of bulk funds.
The need of the hour is to continuously strive for sponsorship of various events and strengthen the corpus .While there is still room for tightening controllable expenses through constant monitoring,we have to arrest leakage of income in Puja and Prasad sevan services-two important sources of income.While a better service to devotees and improvement in quality of food can contribute to improving income from these sources,introduction of swiping machine and computerisation of these two services will also help in further improving the income and arresting leakages.I am told that Axix Bank is arranging swiping machine for the Trust shortly.A vendor has been identified for computerisation of Pooja and Prasad sevan services and his proposal will be placed before the Trust for approval .
I personally feel that our priests require exposure to a well designed orientation session on improving their services to and improving their puja services .Priests are pillars of any religious institution and such orientation by inviting eminent religionistsand experts on Temple rituals and services to educate them periodically will in turn help in improving our “ walk-in income” across the counter at the Temple.
The number of devotees visiting the Temple to avail of various services is on the ascendant and with completion of,baiseepahacha , kitchen work and refurbishing of the community hall,we are confident of attracting even larger number of devotees to the Temple in future.
I have full confidence in the team of trustees on our Board and I am sure they will appreciate the above scenario and direct their energies for mobilising bulk funds in right earnest so that the coming years will not only surpass this year’s levels,but will help the trust to complete capital works expeditiously.
I express my deep gratitude to the thousands of devotees who visit the Temple everyday, make liberal offerings in hundis and use our services like Puja and Prasad sevancontributing to the growth of income to the Trust in the process.
My gratitude to Syndicate Bank,CanaraBank,State Bank of Mysore and some individual devotees for continuing to extend their support in a big way by sponsoring several charitable,religious and welfare activities organised by the Trust.My special gratitude to M/S Salarpuria group of companies and its executives led by Shri P.K.Mishra-Advisor to the Trust for extending support for completion of several construction works.Without the proactive and timely intervention of Shri P.K.Mishra and his team,there was no possibility of the formal inauguration of the Temple in May 2015 !
The staff and learned priests have been an important part of this “growth syndrome” through their service to the devotees and satisfactory handling of various rituals and religious events at the Temple.My heartfelt gratitude to all of them.
I record my appreciation of the good work done by the Auditors M/S ManoranjanPanigrahi and Co.for completing the audit exercise in an objective and transparent manner.I thank the members of the Accounts Committee and specially to the Audit Committee for sparing their time for detailed scrutiny,vetting and finalisation of their recommendations to the Board for adoption of the Audit Report.
May Lord Jagannath bless you and your family members with peace,prosperity,good health and happiness ! At the Lotus Feet of Lord Jagannath ! Sd/-
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Jai Jagannath !