Annual Report 2007

The financial year 2005/2006 was the tenth 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 the direct funding of a wide array of research projects, as well as the purchase of new equipment, improved maintenance and the upgrading of infrastructure.

During the financial year 2005/2006, the Israeli economy was characterized by continued growth and price stability, despite the month-long war.

This is partly reflected in the Institute's financial statements, which show a moderate increase in government support; the percentage of government support in all operating revenues rose from 35% last year to 36% this year.

All categories in the 2005/2006 financial statement – whether "revenues and expenditures" or "development funds" and "endowment funds" (which have exhibited continuous growth each year) – reflect a credit balance. During this period, the Weizmann Institute management team elected to designate NIS 10.8 M.

from the accumulated surplus as an endowment fund, in addition to the NIS 10 M. transferred the preceding year. 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.

Revenues and Expenditures:

All figures are given in reported thousands of new Israeli shekels (NIS) as of September 30, 2006. The rate of exchange at that time stood at:

NIS 4.302 to 1 U.S. dollar.