5. Approval of the 2014 Budget (January 1, 2014 – December 31, 2014)

It is hereby resolved:

1.
a. The budget for operating activities of JAFI financed by unrestricted funds, for the Fiscal Year January 1, 2014 through December 31, 2014 (hereinafter – "the Fiscal Year"), as presented in the proposed budget, is hereby approved in the aggregate amount of $153.018M.

b. The budget for operating activities of JAFI financed by fees for services income for the Fiscal Year, as presented in the proposed budget, is hereby approved in the aggregate amount of $150.142M.

c. The budget for the operating activities of JAFI financed by designated funds for the Fiscal Year, as presented in the proposed budget, is hereby approved in the aggregate amount of $57.7M. The level of designated funding may be adjusted, resulting from either an additional funding not as yet budgeted or reassessments made at a later date.

d. The Director General together with the Chief Financial Officer are authorized to approve payments due to employees' retirements, above the amounts budgeted in the Fiscal Year. The Director-General together with the Chief Financial Officer shall exercise this authority subject to the provisions of Article VI.A.2.(c) of the By-Laws and such payments will be funded in a similar manner as reductions of long term debt.

2. The Capital Budget of JAFI for the Fiscal Year, as presented in the proposed budget, is hereby approved in the aggregate amount of $15.3M for activities funded by unrestricted funds, and $2.5M for activities funded by designated funds.