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.