Resolution 5 FEB 2018

Updating the 2018 Budget

>WHEREAS the Board of Governors, by resolution of October 2017 approved the operating budgets for activities financed by unrestricted funds, fee for services income and designated funds of the Jewish Agency for Israel for the Fiscal Year January 1, 2018 through December 31, 2018 (collectively hereinafter – “The October Budget”); and

>WHEREAS the October Budget showed unallocated reductions of $8 million; and

WHEREAS the Executive approved changes to the October Budget as directed by the board of governors in October 2017 as detailed in appendix A; and

WHEREAS additional changes to the budget are required;

It is hereby resolved:

To increase the budget of the Jewish Agency for Israel for the Fiscal Year January 1, 2018 through December 31, 2018, so that the current budget of $343.804M is increased by a net amount of $18.699M to an amount of $362.503M. This $18.699M increase, is due to an increase of $17.299M financed by fee for services and an increase of $1.4M financed by Designated Funds as detailed below:

U.S. dollars in thousands

Changes in expenses by Unrestricted Funds	Changes
Changes in expenses by Unrestricted Funds	Changes
Masa Israel Journey	1,200
Additional reduction to be allocated	-1,200
Total	0

U.S. dollars in thousands

Changes in expenses funded by Fee for Services income (parallel changes in both income and expenditure)		Changes
		Changes
Israel Experiences	Masa Israel Journey	1,200
Israel Experiences	Israel Tech Challenge	-135
Shlichim and Israel Fellows	Community Educators (Shlichim)	1,000
	Israel Fellows	2,270
	Israeli Counselors in Summer Camps - North America	-200
Young Activism	Youth Villages	3,523
	Mechinot: Post-High School and Post-Army Service Learning	550
	Young Communities	-209
	Youth Centers – Neighborhood Social Renewal	2,000
Partnerships	International School Twinning Network	263
Aliyah, Klita and Rescue	Absorption Centers and Temporary Absorption Apartments	-2,000
	Initial Ulpanim	400
	Lone Immigrant Soldiers - Wings	43
Activities with Russian Speaking Jews	HEFTZIBA - Formal Education in FSU	1,000
Activities with Russian Speaking Jews	Programs with Former Soviet Union Emigres	-142
Community Services (not including FSU)	Community Activities	582
Jewish Agency Wide Projects and Organizational Activities	Amigour Social Housing	4,654
Jewish Agency Wide Projects and Organizational Activities	Jewish Unity Activities - Conversion (including Nativ - Soldier Conversion)	2,500
Total		17,299

U.S. dollars in thousands

Changes in expenses funded by Designated Funds (parallel changes in both income and expenditure)		Changes
		Changes
Israel Experiences	Machon	400
Jewish Agency Wide Projects and Organizational Activities	Ami - Unity Initiative	1,000
Total		1,400

To implement Agency-wide overhead reductions:

U.S. dollars in thousands

Changes in budget financed by Unrestricted Funds	Changes
Israel Experiences	-38
Shlichim and Israel Fellows	-29
Young Activism	-19
Partnerships	-44
Aliyah, Klita and Rescue	-62
Activities with Russian Speaking Jews	-69
Community Services (not including FSU)	-23
Jewish Agency Wide Projects and Organizational Activities	-40
Executive Offices	-87
Support Units	-1,238
Resources Development and Public Affairs	-41
Subtotal	-1,690
Overhead reduction -Agency-wide saving	1,690
Total	0

To utilize the inflation reserve, to be restricted to actual inflation impact, as estimated below:

U.S. dollars in thousands

Changes in budget financed by Unrestricted Funds	Changes
Israel Experiences	120
Shlichim and Israel Fellows	180
Young Activism	330
Partnerships	150
Aliyah, Klita and Rescue	730
Activities with Russian Speaking Jews	130
Community Services (not including FSU)	380
Jewish Agency Wide Projects and Organizational Activities	150
Office of the Chairman	110
Office of the Deputy Chairman of the Executive	10
Office of the Director General	100
Office of the Secretary General	50
Board of Governors and Assembly	20
Chief Operations Officer	50
Human Resources and Administration	180
Finance & Logistics	450
Strategy, Research and Planning	80
Legal Advisor	60
Worldwide Regional Management	280
Security Division	100
Spokesman	60
ERP, HR and other Organizational IT	200
Resources Development and Public Affairs	80
Inflation	-4,000
Total	0

The Chairman of Budget and Finance, working with the Director General and the Chief Financial Officer, and following consultation with the Chairman of the Executive and the Chairman of the Board of Governors, is hereby directed to prepare and submit to the Executive within 60 days hereof, a program of the necessary budget adjustments of $2.5 million shown in the attached budget as "Additional reductions to be allocated".

Appendix A

Updating the 2018 Budget

WHEREAS the Board of Governors, by resolution of October 2017 approved the operating budgets for activities financed by unrestricted funds, fee for services income and designated funds of the Jewish Agency for Israel for the Fiscal Year January 1, 2018 through December 31, 2018 (collectively hereinafter – “The October Budget”); and

WHEREAS the October Budget showed unallocated reductions of $8 million; and

WHEREAS the Board of Governors authorized the Executive to make necessary budget adjustments;

It was resolved by the executive on January 8^th to make changes in the October Budget resulting in an updated budget of $343.804M. The changes approved were as follows:

U.S. dollars in thousands

Changes in Unrestricted Income		Changes from October Budget
Other Core Income		1,450
Total		1,450

Changes in expenses financed by Unrestricted Funds		Changes from October Budget
Israel Experiences	Masa Israel Journey - JAFI's commitment & GOI matching	-2,170
Israel Experiences	Israel Experiences Marketplace	-150
Young Activism	Young Communities	-150
Partnerships	Partnership2GETHER - Managerial Infrastructure	-300
	STEM Twinning Network	-100
	Developing Small-Business Initiatives (loan funds)	-80
Aliyah, Klita and Rescue	Absorption Centers and Temporary Absorption Apartments	-300
	Employment platform for young Olim	-70
	At Home Together and Olim Associations	-300
Jewish Agency Wide Projects and Organizational Activities	New Initiatives to be launched	-85
Jewish Agency Wide Projects and Organizational Activities	Israel Education in Schools Global Initiative - TBD	-560
Additional reduction to be allocated		6,725
Bridging partial effect in 2018 to the full expected savings in 2019 - TBD		-1,010
Total		1,450

U.S. dollars in thousands

Changes in expenses funded by Fee for Services income (parallel changes in both income and expenditure)		Changes from October Budget
		Changes from October Budget
Israel Experiences	Masa Israel Journey - JAFI's commitment & GOI matching	-2,170
Aliyah, Klita and Rescue	Absorption Centers and Temporary Absorption Apartments	300
Aliyah, Klita and Rescue	Employment platform for young Olim	-29
Total		-1,899

07 Mar 2018 / 20 Adar II 5778