2002 CGIAR Financial Report

CGIAR financial report for the year 2002. The overall 2002 result confirms that the CGIAR was successful in achieving its financial targets. Funding from Members totaled $357 million and this was supplemented by $13 million in Center income, resulting in total revenues of $370 million. With total expenditures of $369 million, the overall outcome was a small surplus of approximately $2 million for the CGIAR as a whole. At the Center level, the outcome was slightly different. Available resources totaled $359 million (comprising of $346 million in funding and $13 million in Center income). Against total expenditures of $369 million, the outcome at the Center level was a deficit of approximately $10 million. Net assets for the System declined by $14 million to $175 million in 2002, the result of the deficit of $10 million and $4 million in asset write-downs. Overall, however, the CGIAR's financial position remained strong at the end of the year as liquidity indicators, such as cash, working capital, and current ratio, remained healthy.