CSD's financial performance for 1994 was very good.
Revenues deriving from grants and contributions, projects and
publications were about 32 million leva. Total expenses for the
year were about 20 million leva. This led to an excess of revenue
over expenses of about 12 million leva mainly attributable to cost
effectiveness and the increase of the dollar value against the
leva. CSD receives most of its support in dollars, while most of
its expenses are in local currency.
The Center's long-term plan towards sustainability
includes consolidation of its structure and systems. The
acquisition of premises and information technology are a
fundamental part of this plan. To achieve this, CSD's Governing
Board authorized the creation of an Endowment Fund to which most of
the Center's excess at year-end, if any, will be allocated. Also,
CSD plans to encourage its sponsors to make contributions towards
its Endowment Fund, thus encouraging self-support and long-term
planning of its activities and institutional growth.