 The past year, 1997/98, was the third consecutive year ending in a surplus after the preceding financial crisis. It can thus be said that the plan for recovery has succeeded, and has even surpassed our expectations. We are firmly positioned on a track that will allow us to provide our scientists with needed resources while maintaining a balanced budget.As in previous years, the accumulated historic deficit again decreased, and we are closer than ever before to its elimination. In this context, particular mention should be made of a special contribution to the reduction of the deficit this year by the European Committee for the Weizmann Institute. We hope to reach the goals that we have set for ourselves in the Jubilee Endowment Drive. A significant increase in endowments would result in the financial independence of the Weizmann Institute. This would give Weizmann Institute scientists the tools to realize the fool potential of their creativity. | Sources of Income | % |  | | Government of Israel | 53.4 | | Donations and bequests | 15.3 | | Research grants | 26.6 | | Financial and other revenues | 4.7 |
| Principal Expenditures | % |  | | Salaries and fellowships | 70.5 | | Research, teaching, supplies and equipment | 20.0 | | Financial expenses | 0.2 | | Operating expenses | 9.3 |
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