Finance

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.