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1. University Budget2. Financial Statements

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University Budget

2013/2014 Academic Year

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2010/11 2011/12 2012/13 2013/14 Budget

0

2,000

4,000

6,000

8,000

10,000

12,000

14,000

16,000

18,000

8,733 8,601 8,504 8,700

7,258 7,613 7,976 8,000

1,165 1,209 1,238 1,300

Number of Students

Ph.D.

M.A.

B.A.

17,156 17,423 17,718 18,000

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Teaching Model (301.0) 37%

Research Model (142.4) 17%

Other Allocations (65.6) 8%

Use of Funds (25.9) 3%Use of Investments Designated for Pensions &

Compensation (19.0) 2%

Donations for the Regular Budget * (13.0) 2%

Income from Miscellaneous Sources (27.0) 3%

Financing Income (7.6) 1%

Income from Students (225.5) 27%

Income Budget Distribution for 2013/2014 Academic Year

(Million NIS) %

* The total donations budget for 2013/14 is NIS 83 million, of which NIS 13 million is for the regular budget and the rest are designated for funds, research budgets and closed budgets.

PBC Allocations (509.0) 62%

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Salaries, Budgetary Pensions, Compen-sation and Retire-

ment Grants (643.8) 78%

Acquisitions, Books & Journals (22.8) 3%

Operations and Maintenance (102.2) 12%

Scholarships (35.5( 4%

Other Expenditures (22.8) 3%

Expenditures Budget Distribution for 2013/2014 Academic Year (Million NIS) %

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Regular Budget for 2013/2014 Academic Year (Million NIS)

  2012/13   2013/14  Original Actual   Original  Budget Perform.   Budget

INCOMEPlanning & Budgeting Committee (PBC) Allocations 492.1 489.0   509.0Income from Students 216.3 212.6   225.5

Donations for the Regular Budget* 13.0 12.0   13.0Transfer from External Funds 4.2 7.9   4.5Yields from Endowment Funds 3.5 3.7   3.5Financing Income 4.1 10.3   4.1Income from Miscellaneous Sources 21.3 35.0   22.5Investments Designated for Pensions & Compensation 15.5 15.5   19.0PBC Balancing Fund       11.2Funds to Finance One-time Projects 12.5 12.5   0.0University Funds used to Balance The Budget 17.5 16.5   14.7         

Total Income 800.0 815.0   827.0         

EXPENDITURES        Salaries and Benefits 561.0 556.7 579.7Budgetary Pensions 57.8 57.7 63.6Refund from Tamar Provident Fund & Other 11.8- 12.9- 11.0-Compensation and Retirement Grants 12.5 15.7 11.5         

Equipment & Computerization 8.0 9.6   8.3Books & Journals 14.9 14.9   14.5Operations and Maintenance 94.5 108.7   102.2Scholarships 32.8 35.2   35.5General Expenditures 46.2 35.4   41.1Offsetting Overhead 20.9- 22.4-   23.5-         

Participation in Closed Budgets 3.5 3.5   3.6Funding of Subsidiaries 1.6 1.6   1.6Transfer to Funds - Internal / External Commitments   11.4             

Total Expenditures 800.0 815.0   827.0 

   

Total Surplus / Deficit 0.0 0.0 0.0

*The total donations budget for 2013/14 is NIS 83 million, of which NIS 13 million is for the regular budget and the rest are designated for funds, research budgets and closed budgets.

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Financial Statements

as of September 30, 2013

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Guidelines Regarding Accounting Principles and Financial Reporting

In November 2009 the PBC issued new “Guidelines Regarding Accounting Principles and Financial Reporting by Institutions of Higher Education in Israel”.

The Financial Statements, as of September 2013, are prepared in accordance with the new guidelines.

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Guidelines Regarding Accounting Principles and Financial Reporting

The main changes in the Financial Statements following the new guidelines are: The actuarial liabilities for budgetary pension where taken out

from the Balance Sheet and are presented in the Notes to the Financial Statements (Note 13).

Fixed Assets - Land and buildings – are presented in the Notes to the Financial Statements (Note 8) at reported cost.

The Statement of Activities comprises all revenues and all expenditures, including close budgets, research budgets, and investment in fixed assets.