2008 - The European Foundation Centre
2008 - The European Foundation Centre 2008 - The European Foundation Centre
This is an extract from the full “Financial Statement”. An integral copy of the “Financial Statement”, “Notes to the Financial Statement”, and the “Independent Auditor’s Report” for the year ended December 31st 2008, is available from the EFC secretariat in Brussels. Balance sheet as of 31 December 2008 (in euros) ASSETS 31.12.2007 31.12.2008 (euros) (euros) Fixed assets Fixed assets 88.576 67.199 Cash Guarantees 5.400 5.675 Current assets 93.976 72.874 Accounts receivable 1.714.710 283.085 Deposits 296.929 1.035.189 Cash and bank 2.278.775 1.572.424 Deferred charges and accrued income 44.920 125.037 4.335.333 3.015.735 Total assets 4.429.309 3.088.609 FUNDS AND LIABILITIES 31.12.2007 31.12.2008 Funds Starting Property 41.260 41.260 Reserves 41.260 41.260 Social reserve 545.839 545.839 Programs reserve 697.827 1.047.827 Investment reserve 250.000 300.000 1.493.666 1.893.666 Surplus / prior years 16.472 18.439 Provisions for tax expenses 1.300 1.300 Liabilities Current liabilities Accrued holiday entitlements 194.928 154.039 Accounts payable 264.653 170.491 Deferred income and accrued charges 1.981.559 663.442 Global Fund reserve 435.472 145.973 2.876.611 1.133.945 Total funds and liabilities 4.429.309 3.088.609 20 | EFC 2008 Annual Report and Financial Statement
Statement of income and expenditure for the year ended 31 December 2008 INCOME 31.12.2007 31.12.2008 (euros) (euros) Income from contributions 2.273.434 2.479.738 Income from projects 1.231.997 1.090.945 Other income 223.762 210.839 Global fund 345.578 289.499 Total income 4.074.771 4.071.022 EXPENDITURE Ordinary expenditure 2.819.749 3.377.455 Global currencies conversion 22.795 2.101 Global Fund 345.578 289.499 Total expenditure 3.188.122 3.669.055 Surplus for the year 886.649 401.967 Surplus carried over from 2007 - -16.472 Transfer to the social reserve 105.060 - Transfer to the programs reserve 515.117 350.000 Transfer to the investments reserve 250.000 50.000 Surplus / prior year 16.472 18.439 Net result 0 0 EFC 2008 Annual Report and Financial Statement | 21
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Statement of income and expenditure<br />
for the year ended 31 December <strong>2008</strong><br />
INCOME 31.12.2007 31.12.<strong>2008</strong><br />
(euros) (euros)<br />
Income from contributions 2.273.434 2.479.738<br />
Income from projects 1.231.997 1.090.945<br />
Other income 223.762 210.839<br />
Global fund 345.578 289.499<br />
Total income 4.074.771 4.071.022<br />
EXPENDITURE<br />
Ordinary expenditure 2.819.749 3.377.455<br />
Global currencies conversion 22.795 2.101<br />
Global Fund 345.578 289.499<br />
Total expenditure 3.188.122 3.669.055<br />
Surplus for the year 886.649 401.967<br />
Surplus carried over from 2007 - -16.472<br />
Transfer to the social reserve 105.060 -<br />
Transfer to the programs reserve 515.117 350.000<br />
Transfer to the investments reserve 250.000 50.000<br />
Surplus / prior year 16.472 18.439<br />
Net result 0 0<br />
EFC <strong>2008</strong> Annual Report and Financial Statement | 21
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