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Annual Report 2005
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Financial Highlights
The financial year 2003/2004 was the eighth consecutive year that ended in a surplus. In the course of those years, we eliminated the accumulated deficit that had accompanied Weizmann Institute activity for many years. Over the past few years, this continuous improvement has enabled the Institute to increase its investment in scientific research - through both the direct funding of a wide array of research projects, as well as the purchase of new equipment, improved maintenance and upgrading of infrastructure.
The financial year 2003/2004 was marked by price stability and a continued trend of governmental budget reductions. The rate of government support for the Institute decreased gradually, from 53 percent of the Institute’s operating revenues in 1997/1998 to 36 percent this year. Nevertheless, as mentioned, the year ended with a surplus. As for the future, we are confident that we will overcome upcoming challenges, as we have overcome past ones, and we will continue our historic duty to help advance the Weizmann Institute and science in Israel.
|
Sources of Income |
NIS |
% |
|
Government of Israel through the Planning and Budgeting Committee |
294,700,000 |
32.6 |
|
Direct donations and bequests |
179,320,000 |
22.0 |
|
Research grants and projects |
200,447,000 |
24.6 |
|
Financial revenues |
84,443,000 |
10.3 |
|
Other revenues |
56,130,000 |
6.9 |
|
Total Income |
815,040,000 |
100.0 |
|
Principal Expenditures |
NIS |
% |
|
Salaries and related expenses |
420,715,000 |
52.6 |
|
Research, teaching activities and scholarships |
251,133,000 |
31.4 |
|
Scientific equipment |
19,906,000 |
2.5 |
|
Administrative, maintenance and other operating expenses |
98,763,000 |
12.3 |
|
Financial expenses |
9,891,000 |
1.2 |
|
Total Expenditures |
800,408,000 |
100.0 |
|
Income after expenditures |
14,632,000 |
|
|
Transfer to Endowment Fund |
12,000,000 |
|
|
Surplus |
2,632,000 |
|
|
Sources of Income |
% |
|
Government of Israel |
36.2 |
|
Donations and bequests |
22.0 |
|
Research grants |
24.6 |
|
Financial and other revenues |
17.2 |
|
Principal Expenditures |
% |
|
Salaries |
52.6 |
|
Research, fellowships, teaching and scientific equipment |
33.9 |
|
Financial expenses |
1.2 |
|
Administrative, maintenance and other operating expenses |
12.3 |
|
Development Projects |
NIS |
|
New buildings |
11,600,00 |
|
Enhancement and refurbishing of existing buildings |
21,300,000 |
|
Infrastructure |
5,500,000 |
|
Total 2003/2004 |
38,400,000 |
