Financial statements

As at 31 December 2009 and 2008 (in thousands of US dollars)

Assets	2009	2008
Current assets
Cash and cash equivalents	17,474	6,704
Short-term time deposits	7,525	8,250
Account receivables:
- Donors, net	3,700	2,512
- Employees	305	274
- Others	1,184	881
Prepaid expenses	427	522
Total current assets	30,615	19,143
Non-current assets
Property, plant and equipment, net	1,945	1,897
Other assets	1,387	1,035
Total non-current assets	3,332	2,932

Total assets	33,947	22,075


Liabilities and net assets
Current liabilities
Account payables:
- Donors	15,404	6,085
- Others	23	77
Accrued expenses	2,150	1,427
Total current liabilities	17,577	7,589
Non-current liabilities
Employee benefits obligations	3,515	3,007
Accrued expenses – non-current portion	319	150
Total non-current liabilities	3,834	3,157

Net assets
Unrestricted:
- Undesignated	9,533	8,326
- Designated	3,003	3,003
Total net assets	12,536	11,329

Total liabilities and net assets	33,947	22,075

For the years ended 31 December 2009 and 2008 (in thousands of US dollars)

	2009			2008
	Unrestricted	Restricted	Total	Total
Revenues
Grant revenues	9,709	13,882	23,591	20,572
Other revenues	261	-	261	596
Total revenues	9,970	13,882	23,852	21,168

Expenses
Program related expenses	5,155	13,882	19,037	17,580
Management and general	5,093	-	5,093	3,382
expenses
	10,248	13,882	24,130	20,962
Indirect expense recovery	(1,485)	-	(1,485)	(1,056)
Total expenses	8,763	13,882	22,645	19,906

Changes in net assets	1,207	-	1,207	1,262


Supplementary schedule of expenses – classified by nature of expenses
Personnel costs	4,809	4,620	9,429	8,305
Supplies and services	3,378	3,593	6,971	4,999
Partnership activities	707	4,739	5,446	5,757
Operational travel	864	834	1,698	1,558
Depreciation of property	490	96	586	343
plant and equipment
Indirect expense recovery	(1,485)	-	(1,485)	(1,056)

Total expenses	8,763	13,882	22,645	19,906