Page 81 - Annual_Report_2020_2021

The Agency recorded reserves of HK$14.7 million as at 31 March 2021, which included General
Fund of HK$6.39 million, Operation Contingency Fund of HK$2.94 million and Agency Development
any
or
contingency

meet

to
maintained

are funds two The outbreak of COVID-19 has evolved into a worldwide health crisis. It has brought uncertainty to business operations and the overall economy. The financial statements have reflected the known impact of the pandemic on the financial position and cash flows as at 31 March 2021. The Agency will closely monitor the development of the pandemic and continue to assess its impact on the The Agency has seen the

AGENCY FOR VOLUNTEER SERVICE REPORT OF THE DIRECTORS (CONTINUED) Business review (Continued) latter The million. HK$5.35 unexpected financial needs and for the future development of the Agency. financial position and operating results. Environmental Policies Compliance with Relevant Laws and Regulations Practice Manual as required by the SWD. Key Relationships with Employees, Customers and Suppliers

of Fund

AGENCY FOR VOLUNTEER SERVICE REPORT OF THE DIRECTORS (CONTINUED) Business review (Continued) In the year, affected by the pandemic and group gathering restrictions, the two fundraising events, namely the V-Run & Walk and Books for LOVE were cancelled. We were unable to meet the fundraising target of $1 million. We anticipated that the impact of COVID-19 may last for years and there will be difficulty in fundraising, which in turn will a

coastline.