Finance
CSD's financial performance for 1995 was very good.
Revenues deriving from grants and contributions, projects and
publications were about 53 million leva. Total expenses for the
year were about 41 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 its premises and information technology equipment
are a fundamental part of this plan. In 1995, CSD contributed most
of its excess at the year-end to the Endowment Fund, established in
the previous year. CSD also invited its sponsors to make
contributions towards the Fund, thus encouraging self-support and
long-term planning of its activities and institutional growth.
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