5. 2005 Budget
Whereas on October 27th, 2004 the Board of Governors resolved that in February 2005 the Executive would submit the final 2005 Budget to the Board of Governors; and whereas the Strategic Planning process has been completed in part and the Executive wants the departments to complete the strategic planning before May 2005.
It is hereby resolved:
The Board of Governors determines that:
1.(a)The framework of the budget for operating activities of the Jewish Agency for Israel for the Fiscal Year January 1, 2005 through December 31, 2005 as presented in the proposed budget attached hereto is in the aggregate amount of $ 290,000,000 for unrestricted activities.
(b) The framework for the JAFI validated unfunded needs is $ 78,400,000 and the budget framework for facilitated activities is $ 50,000,000. Contracts related to JAFI designated projects will be implemented only upon the receipt of funding commitment or actual revenue.
2. The framework of the budget for development and financing activities of the Jewish Agency for Israel for the Fiscal Year, as presented in the proposed budget attached hereto is in the aggregate amount of $ 18,155,000 for unrestricted development activities, $ 25,830,000 for designated development activities, and $ 1,000,000 for unrestricted financing activities.
3 (a) The framework of the unrestricted budget for operating activities of the Jewish Agency for Israel for the first half of the Fiscal Year beginning on January 1, 2005 and ending on June 31, 2005 is half of the annual budgetary framework referred to in clause 1(a) above ($145 million).
(b) The Jewish Agency shall not make commitments for programs beyond June 30, 2005.
(c) Despite the provisions of subsection (b) if, until the approval of the final budget, the need arises to take budgetary commitments for programs beyond June 30, 2005, such commitments may be made only with the approval of the Director General of the Jewish Agency and the Director General of the Finance Department.
(d) In June 2005, the Executive will submit a final budget for the approval of the Board of Governors.