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Annual Report 2002
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Financial Highlights
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The financial year 2000/2001 was the fifth consecutive year ending in a surplus. All categories in that year’s financial statements showed a credit balance. The continuous financial improvement enabled the Weizmann Institute to invest considerable sums over the past three or four years directly in scientific research and indirectly through renovation and modernization of the Institute’s infrastructure. The goal of upgrading this infrastructure to free research efforts from technical obstacles has recently been achieved. So, the Institute’s overall financial situation is sound. However, today we face more difficult times, due to severe security and economic burdens prevalent throughout Israeli society. These constraints have already resulted in a decrease in the Government’s financial support of the Institute. Furthermore, it seems we shall have to cut spending in a number of budgetary areas (e.g., equipment, maintenance, and other operating expenses), which had grown during the past few years. We remain confident that we will meet the present challenges, as we have during difficult times in the past. Income and Expenditures: All figures are given in adjusted new Israeli shekels (ANIS) as of September 30, 2001. The rate of exchange at that time stood at NIS 4.355 to 1 U.S. dollar. ANIS is the shekel adjusted to a constant value, neutralizing distortions resulting from inflation. |
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* This surplus, when added to the 1999/2000 surplus (produced after the elimination of the Institute's historical accumulated deficit), served to create an "accumulated" surplus of ANIS 3,195,000 at the end of FY 2000/2001.
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