ASSETS

2008

2007

CURRENT ASSETS

Cash and cash equivalents

6,704

10,353

Short-term time deposits

8,250

3,704

Accounts receivable

Donors, net

2,512

10

Employees

274

170

Others

881

910

Prepaid expenses

522

253

TOTAL CURRENT ASSETS

19,143

18,506

NON-CURRENT ASSETS

Property, plant and equipment, net

1,897

1,798

Other assets

1,035

1,030

TOTAL NON-CURRENT ASSETS

2,932

2,828

TOTAL ASSETS

22,075

21,334

LIABILITIES AND NET ASSETS

CURRENT LIABILITIES

Accounts payable

Donors

6,085

7,160

Others

77

34

Accrued expenses

1,577

1,359

TOTAL CURRENT LIABILITIES

7,739

8,553

NON-CURRENT LIABILITIES

Employee benefits obligation

3,007

2,714

NET ASSETS

Unrestricted

Undesignated

8,326

7,064

Designated

3,003

3,003

TOTAL NET ASSETS

11,329

10,067

TOTAL LIABILITIES AND NET ASSETS

22,075

21,334

2008

2007

UNRESTRICTED

RESTRICTED

TOTAL

TOTAL 

REVENUES

Grants

9,317

11,255

20,572

18,178

Other revenues

596

-

596

606

Total revenues

9,913

11,255

21,168

18,784

EXPENSES

Programme-related expenses

6,325

11,255

17,580

14,893

Management and general expenses

3,382

-

3,382

2,875

9,707

11,255

20,962

17,768

Indirect expense recovery

(1,056)

-

(1,056)

(890)

Total expenses

8,651

11,255

19,906

16,878

CHANGES IN NET ASSETS

1,262

-

1,262

1,906

UNDESIGNATED

DESIGNATED

TOTAL

Invested in property,plant and equipment

Reserve for replacement of property, plant and equipment

Balance as at 31 December 2006

5,158

5,556

1,447

8,161

Depreciation for the year ended 31 December 2007

(314)

314

-

Additions of property, plant and equipment during the year ended 31 December 2007

581

(581)

-

Net book value of disposals of property, plant and equipment during the year ended 31 December 2007

(25)

25

-

Changes in net assets for the year ended 31 December 2007

1,906

-

-

1,906

Balance as at 31 December 2007

7,064

1,798

1,205

10,067

Depreciation for the year ended 31 December 2008

(343)

343

-

Additions of property, plant and equipment during the year ended 31 December 2008

444

(444)

-

Net book value of disposals of property, plant and equipment during the year ended 31 December 2008

(2)

2

-

Changes in net assets for the year ended 31 December 2008

1,262

-

1,262

Balance as at 31 December 2008

8,326

1,897

1,106

11,329

2008

2007

CASH FLOWS FROM OPERATING ACTIVITIES

Changes in net assets

1,262

1,906

Adjustments to reconcile changes in net assets to net cash provided by operating activities:

Depreciation

343

314

Gain on the disposal of property, plant and equipment

(56)

(111)

Allowance for doubtful accounts Changes in:

67

11

Accounts receivable

      Donors

537

(445)

      Employees

(104)

10

      Others

29

(62)

Prepaid expenses

(269)

92

Other assets

(5)

13

Accounts payable

      Donors

(1,075)

3,423

      Others

43

(18)

Accrued expenses

218

462

Employee benefits obligation

293

(264)

NET CASH PROVIDED BY OPERATING ACTIVITIES

1,283

5,331

CASH FLOWS FROM INVESTING ACTIVITIES

Acquisition of property, plant and equipment

(444)

(581)

Proceeds from the disposal of property, plant and equipment

58

136

Placement of short-term time deposits

(4,546)

(579)

NET CASH USED IN INVESTING ACTIVITIES

(4,932)

(1,024)

NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS

(3,649)

(4,307)

CASH AND CASH EQUIVALENTS, BEGINNING OF THE YEAR

10,353

6,046

CASH AND CASH EQUIVALENTS, END OF THE YEAR

6,704

10,353