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Center for the Study of Democracy
 

Organization’s Financial Statements For the period ended 31 December 1999
With Independent Auditors' Report Thereon

Statement of net changes in net assets for the year ended 31 December 1999

In BGN Note
1999
1998

Revenue from grants, contributions and projects

2

1,493,530

1,222,918

Expenses on grants, contributions and projects

3

(1,116,569)

(1,153,263)

General and administrative expenses

 

(27,982)

(34,269)

       

Gross excess of revenue over expenditure

 

348,979

35,386

       

Foreign exchange gains – net

4

116,633

86,199

Interest income

 

31,011

52,589

Other financial expenses

 

(6,083)

(7,065)

Other income

 

289

 

Extraordinary income - net

5

(914)

32,941

Provisions

 

(20,873)

 
       

Net excess of revenue over expenditure

 

469,042

200,050

       

Gain on net monetary position

 

-

(7,975)

       

Excess of revenue over expenditure for the year

 

469,042

192,075

       

Accumulated excess of revenue over expenditure brought forward

 

1,349,861

1,157,786

       

Unrestricted fund balances at 31 December 1999

 

1,818,903

1,349,861


The accompanying notes on pages 5 to 13 form an integral part of these financial statements.

 
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