Updating the 2021 Budget

Whereas:>        On July 14, 2020 the Board of Governors approved the budget for the Fiscal Year January 1, 2021 through December 31, 2021 (hereinafter –"the Fiscal Year"); and

Whereas:>        There have been significant changes in both the income and expenses, which require adjustments in the budget; and

Whereas:        On June 28, 2020 the Executive approved a new organizational structure of The Jewish Agency; and

Whereas:        The budget structure and report needs to be adapted to the new organizational structure.

 

 Therefore be it resolved as follows:

 

  1. To adapt the budget structure and report to the new organizational structure as reflected in the attached budget report.

 

  1. To increase the budget of the Jewish Agency for the Fiscal Year, so that the current budget of $344.640M is increased by a net amount of $22.946M to an amount of $367.586M. This $22.946M increase is due to an increase of $4.5M financed by Unrestricted Funds, an increase of $8.763M financed by fee for services and an increase of $9.683M financed by Designated Funds, as detailed below and in the attached "Proposed Updates to Budget".

 

 

 

Changes in budget financed by Unrestricted Funds- Income

Changes $K

 
 

UIA (JFNA Campaigns) - Collective

-3,000

 

Keren Hayesod

-2,000

 

Collaboration with KKL (in coordination with WZO) *

2,000

 

Contributions from other Donors

-1,050

 

Other Core Income

-1,950

 

Annual Operating Income from the sale of ICC

5,500

 

Income Contingency

5,000

 

Total

4,500

 

*   Pending approvals required by law and the signing of a three-sided agreement between the relevant parties (KKL - WZO – JAFI).

 

 

Changes in budget financed by Unrestricted Funds- Expenses

Changes $K

Aliyah

570

Connecting World Jewry

800

Strategy and New Initiatives

700

Marketing and Resource Development

365

Executive and Support

1,000

Unimplemented budget cuts and additional needs not yet allocated

3,015

Additional expense for cyber security

1,000

Exchange rate impact

2,000

Additional reductions TBD

-4,500

Adjustments as needed

-450

Total

4,500

 

 

 

Changes in expenses funded by Fee for Services income

(parallel changes in both income and expenditure)

Changes $K

Aliyah

7,362

Connecting World Jewry

-92

Israeli Society

1,493

Total

8,763

 

 

 


Changes in expenses funded by Designated Funds

(parallel changes in both income and expenditure)

Changes $K

Aliyah

4,871

Connecting World Jewry

2,398

Israeli Society

-86

Strategy and New Initiatives - Collaboration with KKL (in coordination with WZO) - allocation to specific programs TBD *

2,500

Total

9,683

 

*   Pending approvals required by law and the signing of a three-sided agreement between the relevant parties (KKL - WZO – JAFI).

 

 

 

  1. The Capital Budget of JAFI for the Fiscal Year, is hereby approved in the aggregate amount of $8.0 million for activities funded by unrestricted funds, and $3.0 million for activities funded by designated funds, as follows:

 

  1.  

Capital Budget

(US$ ,000)

 

 

Sources*

2021 Budget

 

Total

Unrestricted Funds

Designated Funds

Depreciation & Users Fees

6,500

6,500

 

Asset Realization

1,500

1,500

 

Donations and Contributions

3,000

 

3,000

Total sources

11,000

8,000

 

3,000

 

 

 

Applications*

2021 Budget

 

Total

Unrestricted Funds

Designated Funds

Renovation and upgrading assets

4,000

1,500

2,500

Safety (including fire safety, stability and disabled accessibility)

1,100

1,100

 

Equipment and Furniture

200

200

 

CRM, ERP and IT needs

1,200

1,200

 

Assets management expenses and related costs

3,100

3,100

 

Investment in real estate (Israel and overseas)

900

400

500

Planning and Rezoning

500

500

 

 

Total applications

 

 

11,000

 

8,000

 

3,000

*Not including the Social Housing Initiative except for short term planning in the budget line 'Planning and Rezoning'

 

 

 

Share           PRINT   
26 Apr 2021 / 14 Iyar 5781 0