Jewish Agency Approves 2012 Budget of $322m
At the final plenary of the Jewish Agency’s Board of Governors meetings, the 2012 budget was passed unanimously.
The approved budget of just over $322m. represents a cut of approximately 2.5% from 2011. As approved, the budget contains a projected deficit of $4.6m. The Jewish Agency is required to have a balanced budget and within the next 60 days additional revenue, expenditure reductions, or a combination of the two must be identified.
Of note, the Jewish federations (which earlier this summer had indicated to JAFI that 2012 would see a decline in income) is budgeted to provide $105m – the same as in 2011. Keren Hayesod $43m and the International Fellowship of Christians and Jews $9m. Of the projected decline in income, $5m (of the approximately $8m) results from a U.S. Government grant for refugee resettlement (set by formula based on number of refugees).
The administrative support and overhead of the Jewish Agency has declined by 9% from 2011 to 2012.