On the 20th of September 2023 we transferred Rs 3.2 Million (Aus $15,331) to the account of the parent body, Alumni Association of the University of Peradeniya (AAUP) and the money will be invested in a long-term fixed deposit (under our name) and only the interest will be used for studentships.
This arrangement is very similar to what we have done with Rs 1.8 Million that we donated in 2022. This means that the money will be invested in a long-term fixed deposit and the interest from the total sum of Rs 5.0 Million would be used to award studentships for a very long time.
In addition to the above, in 2021, we donated Rs1,024,900, and the investment plan was to use the interest and a part of the capital for studentships.
The studentship recipients are either from low-income families or have experienced personal tragedies, such as the death of the breadwinner of the household. The students are being paid during the entire stipulated period of studies.
During the period 2021-2023, we have transferred AUD 29,798 to the AAUP.
The current and future Audited Financial Statements of the AAUP would contain separate line items indicating the status of these fixed deposit accounts, capital at the beginning of the financial year, interest generated, amount spent on studentships and capital at the end of the financial year.
Further information on this will be provided at the AGM that will be held on Sunday, the 8th of October 2023.
Finally, we would like to thank everyone who helped and supported our fundraising activities.