Annual General Meeting 2024: a look back at a difficult year
On June 6, Sipar's president, general manager and treasurer presented this year's activities and results. The year 2023 ended with a deficit balance sheet, but despite a complex year, projects continue with success and impact for Cambodia's most vulnerable people.
Board meeting in Versailles before the Annual General Meeting
Activity report
The 2024 Annual General Meeting was held by videoconference. Patrice Lucas, President of Sipar, presented his annual report and detailed current programs.
More than 33 years after our debut in Cambodia's public schools, we continued our support for the historic library network in 2023, renewing book holdings and renovating and building new libraries.
Our 14 mobile libraries continued to circulate in seven provinces and in Phnom Penh. Prison officers now directly manage libraries in all 28 prisons. We also supported the development of Cambodian youth. In addition, our publishing house published 19 new titles in 2023, bringing our catalog to 289 titles.
In 2024, we will continue and expand our mission. We'll be promoting reading and education for all, supporting schooling and Cambodian youth in disadvantaged areas.
Governance
The audit committee, created at the end of 2022, was operational in 2023. It recommended an audit in Versailles and Phnom Penh, carried out in early 2024 thanks to the skills sponsorship of the Allianz Group. In 2023, we were certified IDEAS. The continuous improvement process continues with the help of two volunteer advisors delegated by IDEAS. A progress report is scheduled for the end of June 2024.
A tough financial year
The year 2023 was a difficult one financially. We saw a significant drop in income (donations and book sales). This did not cover all expenses, leading to a deficit of 116 k€. The budget, presented with a deficit of 33 k€, could not be respected.
The Annual General Meeting unanimously approved the 2023 financial statements, validating the allocation of the deficit to reserves.
Our sincere thanks go to our friends, partners and donors, whose support enables us to continue our educational drive in Cambodia.
To consult and download our documents (in French only) :
