COMBINED 
F 1 NANC I A1 
STAT E ME NTS 
Table of contents Page 
Letter from the Chair 
Management Statement of Responsibility for Financial Reporting 
Independent Auditors' Report 
Combined Statements of Financial Position 
Combined Statements of Activities 
Combined Statements of Changes in Net Assets 
Combined Statements of Cash Flows 
Notes to Combined Financial Statements 
Supplemental Schedules 
Exhibit 1 - Schedule of Grant Revenue 16 
Exhibit 2 - Restricted Pledges and Expenses 19 
Exhibit 3 - Combined Schedule of Fixed Assets 26 
Exhibit 4 - Schedule of Indirect Costs 27 
Exhibit 5 - Schedule of EC Funding 28 
Exhibit 6 - Schedule of Challenge Program 29 
i 
Centro lnternacional de Mejoramiento de Maiz y Trigo, Int. and 
Centro lnternacional de Mejoramiento de Maiz y Trigo, A. C. 
Letter from the Chair 
The past year has been a challenging one for CIMMYT but one that has also been very rewarding as 
we strive to move forwards with greater purpose, financial stability, and a clear focus on our research 
and development agenda. The CIMMYT Board and management have tak.en serious steps to address a 
number of the issues raised by the 51h EPMR; specifically, those related to governance; a business 
plan; finance; and, partnerships. In particular, ClMMYT is placing a very high priority on articulating 
its core competency in germplasm enhancement, targeted to the resource-poor in marginal 
environments, through a re-focusing of resource allocation, both financial and staffing, and the 
development of technologies and research capacity in support of these activities. 
The CIMMYT Board has agreed upon a proposal for a new governance system for CIMMYT that will 
ensure basic functions as required by the CGIAR are performed. Board functions have been 
strengthened, particularly in the areas of financial and fiduciary oversight, strategy, networking, and 
resource mobilisation. Furthermore, the Board has taken steps to ensure that there is a clear separation 
of membership on the Audit, and the Finance and Administration Committees and the Executive 
Committee has been re-formulated with the additional role as a governance committee, and 
nomination committee. 
ClMMYT has develqped a detailed business plan for the next five years with clear deliverables. In 
addition, we have made very significant progress towards the achievement of CGTAR standards for 
financial health. As of the end of 2005, CIMM.YT has 74 days of reserves, within one day of the 
CGIAR mandated minimum level of 75 days; a truly rcmarkable turn-around from the situation at the 
end of 2002 when reserves were negligible. 
ClMMYT is committed to building alliances with both lRRl and ICARDA; the initiative, drive and 
actions taken to foster these relationships were timely and an example of alliances that must be built 
across the CGTAR more widely. We are very satisfied with the concrete plans and progress on the 
ICARDA alliance. For the IRRT alliance we have important and inspiring probmss on one of the three 
common programs. We need to get at least one more up to speed! 
CIMMYT is looking forward to its next chapter, consolidating on the remarkable progress towards 
financial health, with increased emphasis on institutional health. 
Yours sincerely, 
Lene Lange 
Chairman of the Board of Trustees 
1 
Centro Internacional de Mejoramiento de Maiz y Trigo, Int. and 
Centro Internacional de Mejoramiento de Maiz y Trigo, A.C. 
Management Statement of Responsibility for Financial Reporting 
On the financial statements for the year ended 31 December 2005 
The Institute's management is required to prepare financial statements for each financial year, which 
give a true and fair view of the state of affairs of the institute as at the end of the financial year and of 
the results of its activities for that year. Management is also required to ensure the institute keeps 
proper accounting records which disclose, with reasonable accuracy, the financial position of the institute 
and are also responsible for safeguarding the assets of the institute. 
Management accept responsibility for the annual financial statements, which have been prepared using 
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appropriate accounting policies supported by reasonable and prudent judgments and estimates, in 
conformity with the requirements of the CGIAR Financial Guideline Series No. 2 - Accounting Policies 
& Reporting Practices Manual (Revised November 2003). 
Management are of the opinion that the financial statements give a true and fair view of the state of the 
financial affairs of the institute and of its results of activities. Management further accept responsibility 
for the maintenance of accounting records which may be relied upon in the preparation of financial 
statements, as well as adequate systems of internal financial control. 
Nothing has come to the attention of the management to indicate that the institute will not remain a 
going concern for at least the next twelve months from the date of this statement. 
Signed on behalf of Management by: 
Dr. Masa Iwanaga Martin van Weerdenburg (CA) 
Director General Director of Corporate Services 
L 
2 
Deloitte Galaz, Yamazaki, 
Ruiz Urquiza, S.C. 
Paseo de la Reforma 505 
Piso 28 
Colonia Cuauhtemoc 
06500 Mexico, D.F. 
Mexico 
Tel: +52 (55) 5080 6000 
Fax: +52 (55) 5080 6001 
www.deloitte.com/mx 
Independent auditors' report 
To the Board of Trustees of 
CENTRO INTERNACIONAL DE MEJORAMIENTO DE M A l Z  Y TRIGO, INTERNATIONAL AND 
CENTRO INTERNACIONAL DE MEJORAMIENTO DE MA12 Y TRIGO, A. C. 
(THOUSANDS OF US DOLLARS) 
We have audited the accompanying combined statements of financial position of Centro Internacional 
de Mejoramiento de Maiz y Trigo, International and Centro Internacional de Mejoramiento de Maiz y 
Trigo, A. C. (collectively the "Organization"), both of which are under common ownership and common 
management, as of December 31,2005 and 2004, and the related combined statements of activities, 
changes in net assets and cash flows for the years then ended. These financial statements are the 
responsibility of the Organization's management. Our responsibility is to express an opinion on these 
financial statements based on our audits. 
We conducted our audits in accordance with International Standards on Auditing. Those standards 
require that we plan and perform the audit to obtain reasonable assurance about whether the financial 
statements are free of material misstatement. An audit includes examining, on a test basis, evidence 
supporting the amounts and disclosures in the financial statements. An audit also includes assessing 
the accounting principles used and significant estimates made by management, as well as evaluating the 
overall financial statement presentation. We believe that our audits provide a reasonable basis for our 
opinion. 
As described in Note 1 to the accompanying combined financial statements, these financial statements 
were prepared on the basis of the Consultative Group on International Agricultural Research ("CGIAR) 
Accounting Policies and Reporting Practices Manual. 
In our opinion, such combined financial statements present fairly, in all materials respects, the financial 
position of rhe Organization as of December 31,2005 and 2004, and the results of their activities, and 
their cash flows for the years then ended in accordance with the CGIAR Accounting Policies and 
Reporting Practices Manual described in Note 1. 
As discussed in Note 5, under CGIAR Accounting Policies and Reporting Practices and in order to 
properly support the land and building balances, the Organization changed its method of accounting for 
land and buildings from historical cost to fair value and obtained an appraisal of land and buildings 
resulting as of December 31,2003 in a net increase of $9,151. A debit of $2,707 was included as the 
cumulative effect of a change in accounting principles directly in net assets representing the cumulative 
effectt hrough January 1,2003. A credit of $11,858 was included as the effect of revaluation for the year 
ended December 31,2003. An additional adjustment of $370 was recorded during 2004 to properly 
consider the effect of exchange rates for 2004 in the transaction. 
3 
Our audits were conducted for the purpose of forming an opinion on the basic combined financial 
statements taken as a whole. The following supplemental schedules which are the responsibility of the 
Organization’s management, presented in Exhibits 1,2,5 and 6 are only presented for the purposes of 
additional analysis and are not a required part of the basic combined financial statements: 
Exhibit 1U naudited - Funds received, Accounts receivable, Advance payments and Grants.. 
Exhibit 2 Unaudited - Restricted Pledges and Expenses. 
Exhibit 5 Unaudited - Schedule of European Community Funding. 
Exhibit 6 Unaudited - Schedule of Generation Challenge Program. 
Such schedules have not been subjected to the auditing procedures applied in our audits of the basic 
combined financial statements and, accordingly we express no opinion on them. 
The remaining supplemental schedules presented in Exhibits 3 and 4 are presented for the purpose of 
additional analysis and are not a required part of the basic combined financial statements. These schedules 
are the responsibility of the Organization’s management. Such schedules have been subjected to the 
auditing procedures applied in our audits of the basic combined financial statements and, in our opinion, are 
fairly stated in all material respects when considered in relation to the basic combined financial statements 
taken as a whole. 
This report is intented solely for the information and use of management and the Board of Trustees of the 
Organization and should not be used by anyone other than these specified parties. 
Galaz, Yamazaki, Ruiz Urquiza, S. C. 
Member of Deloitte Touche Tohmatsu 
cMarc 3 l006 ?pv 
4 
Centro lnternacional de Mejoramiento de Maiz y Trigo, International and 
Centro lnternacional de Mejoramiento de Maiz y Trigo, A. C. 
Combined Statements of Financial Position 
As of December 31,2005 and 2004 (Thousands of U.S. Dollars) 
ASSETS Note 2005 2004 
Current Assets 
Cash and cash equivalents 3,7 S 13,052 S 14,119 
Accounts receivable: 
Donors - net 4 8,104 6,480 
Other 1,252 1,141 
Inventory and supplies 374 109 
Prepaid expenses 10 4 
Total current assets 22,792 21,853 
Non-Current Assets 
Property and Equipment, net 5 14,952 15,307 
Other assets 62 
Total non-current assets 14,952 15,369 
TOTAL ASSETS $ 37,744 $ 37,222 
LIABILITIES AND NET ASSETS 
Current liabilities 
Current portion of capital leases 9 s s 79 
Current portion of employee retirement obligation 10 1,190 
Accounts poyoble: 
Donors 6 6,202 7,913 
Challenge program and collaboratives 7 6,103 7,040 
Other 973 831 
Accruals and provisions 8 572 608 
Total current liabilities 15,040 16,471 
Non-Current liabilities 
Employee retirement obligation 10 535 583 
Total non-current liabilities 535 583 
Commitments and contingences 14 
Total liabilities 15,575 17,054 
Wet assets 
Unrestricted 11 
Designated 14,952 15,307 
Undesiy noted 7,217 4,861 
Total unrestricted net assets 22,169 20.1 68 
TOTAL LIABILITIES AND NET ASSETS $ 37,744 $ 37,222 
See accompanying notes to Combined Financial Stotements. 
5 
Centro lnternacional de Mejoramiento de Maiz y Trigo, Infernational and 
Centro International de Mejoramiento de Maiz y Trigo, A. C. 
Combined Statements of Activities 
For the years ended December 31,2005 and 2004 (Thousands of U.S. Dollars) 
2005 2004 
Note Unrestricted Restricted Challenge Total Total 
Program 
Revenues and Gains 
Grants / Revenue 12 S 13,308 S 21,864 S 2,848 S 38,020 S 37,400 
Other revenues and gains 12 1,531 1,531 1,320 
Total revenues and gains 14,839 21,864 2,848 39,551 38,720 
Expenses and losses 
Program related expenses 13 8,666 22,783 2,848 34,297 31,965 
Management and general expenses 6,253 245 6,498 7,271 
Other losses and expenses 13 354 354 862 
Sub Total expenses and losses 15,273 23,028 2,848 41,149 40,098 
Indirect costs recovery (3,599) (3,599) (2,778) 
Total Expenses and losses 1 1,674 23,028 2,848 37,550 37,320 
NET SURPLUS/(DEFICIT) " $ 3,165 ' $'(l,l64) $ . -  $ 2,001 $ 1,400 
..  ... .. ... .. .. ..... . .......... . . .. . . .... ...... .. . ... . . . .. .... . .. .. . . .. .. .. . . . . . 
Expenses by Natural Clasification 
Personnel costs S 8,726 S 8,566 S 730 S 18,022 S 16,870 
Supplies and services 3,609 8,240 1,242 13,091 13,531 
Collaborators / Partnership costs 1,312 4,252 61 2 6,176 5,742 
Operational travel b99 1,045 1b3 1,907 1,828 
Depreciation 927 925 101 1,953 2,097 
Total S 15,273 $ 23,028 $ 2,848 $ 41,149 $ 40,098 
See accompanying notes to Combined Financial Statements. 
6 
Centro lnternarional de Mejoramiento de Maiz y Trigo, International and 
Centro International de Mejoramiento de Maiz y Trigo, A. C. 
Combined Statements of Changes in Net Assets 
For the yeors ended December 31,2005 and 2004 (Thousands of U.S. Dollars) 
Undesignoted Designoted Total 
Fixed Revaluation of land 
Note Assets ond buildings Sub-total 
Balance, January 1,2004 S 3,051 S 3,489 S 11,858 S 15,347 S 18,398 
Net change in fixed assets 41 0 (410) (41 0) 
Surplus on revaluation from appraisal 
of fixed assets 5 370 370 370 
Net surplus 1,400 1,400 
Bolonce, December 31, 2004 4,861 3,079 12,228 15,307 20,168 
Net change in Fixed Assets 355 (355) (355) 
Net Surplus 2,001 2,001 
Bolance, December 31,2005 $ 7,217 $ 2,724 $12,228 $14,952 $22,169 
See accompanying notes to Combined Financial Statements. 
7 
Centro International de Mejorarniento de Maiz y Trigo, International and 
Centro International de Mejorarniento de Maiz y Trigo, A. C. 
Combined Statements of Cash Flows 
For the years ended December 31,2005 and 2004 (Thousands of U.S. Dollars) 
. .  . , .  . .. ... .   2005 2004 : 
Casb flows used in operating activities 
Change in net assets s s 2,001 S S 1,770 
Adjustments to reconcile change in net assets 
to net cash provided by (used in) operating activities 
Depreciation 1,953 2,097 
Net periodic pension cost 83 (96) 
Gain on sale of fixed assets (84) (94) 
Decrease (increase) in assets 
Accounts receivable 
Inventories and supplies 
Prepaid expenses 
Increase (decrease) in liabilities 
Due to related parties (390) 
Accounts payable (2,648) 5,967 
Accruals and provisions 1,227 169 
Net cash (used in) generated by operating activities 
before cummulative effect in accounting principle 526 11,923 
Cumulative effect in change in accounting principle (370) 
Net cash (used in) generated bv operating activities 526 11,553 
Cash flows from iavesting activities 
, . . . . ... 
Acquisition of fixed assets . 
Revenue on sale of fixed assets 90 
Net cash generated by (used in) investing activities (1,5141 (1,638) 
Cash flows from financing activities 
Financial institutions (3,000) 
Capital leases (79) (222) 
Net cash used in financing activities (791 (3,222) 
Net (decrease) increase in cash and casb equivalents (1,067) 6,693 
Beginning of the year 14,119 7,426 
End of the Year S 13,052 S 14,119 
Supplemental information on non-cash investing and financing activities: 
As described in Note 5, in December 2003, the Organization obtained an independent appraisal of land and buildings, which is reflected m 
cumulative effect of changes in accounting principles in the combined statements of activities and changes in net assets. The net effect of 
such adjustment for 2004 was $370. 
See accompanying notes to Combined Financial Statements. 
8 
Centro International de Mejoramiento de Maiz y Trigo, International, and 
Centro lnternacional de Mejoramiento de Maiz y Trigo, A. C. 
Notes to Combined Financial Statements 
. .  
I 
i December 31,2005 and 2004 (Thousands of U.S. Dollars) 
1- . . . . . . . .. . . ...... -I: . . _ .  ._.__I .. ...... . - ~ ...... _.  . . .. .. ..... .. J 
1. STATEMENT OF PURPOSE AND BASIS OF Accounting principles included in the Manual 
PRESE N TATl0  N have attempted to adopt International Financial 
Reporting Standards ("IFRS") with the following 
Statement ofpiitpose - Centro Intemacional de clarifications and differences: 
Mejoramiento de Maiz y Trigo, International 
(CIMMYT, Int.) was formally created through an a. Since existing IFRS do not specifically cover 
agreement signed by the United Nations issues unique to not-for-profit-organizations, 
Development Programme and the International the manual has drawn from other widely used 
Bank of Reconstruction and Development, both standards to provide guidance on issues of 
cosponsors of the Consultative Group on importance to not-for-profit organizations. 
International Agricultural Research ("CGIAR), b. IAS 1 provides that "entities with not-for- 
and is a not-for-profit, scientific and educational profit activities in the private sector, public 
organization engaged in the improvement of sector or government seeking to apply this 
maize and wheat cropping systems in developing standard may need to amend the descriptions 
countries. Centro Internacional de Mejoramiento used for certain line items in the financial 
de Maiz y Trigo, A. C. ("CIMMYT, A. C.") is a statements and for the financial statements 
private association chartered under Mexican law. themselves". In line with this provision, the 
CIMMYT, A. C. does not carry out any activities manual has, in places, applied descriptions 
and only holds part of the land and buildings that more closely reflect the nature of the 
where CIMMYT, Int. carries out its activities. Organization's activities. 
These two entities which are under common 
ownership and common management, are Additionally, IFRS and the Manual differ with 
referred to collectively in this document as the respect to the treatment of certain equipment 
"Organization" expenses. The main difference is that under the 
accounting principles of the Manual, the 
A Headquarters Agreement, signed by the Organization depreciated 100% equipment 
Government of Mexico on May 9,1988 and amounting to $851 and $689 purchased during the 
ratified by the Mexican Senate on December 22, years ended December 31,2005 and 2004, 
1988, recognized CIMMYT, Int. as having the respectively, whereas under IFRS, such purchases 
status of an international organization. A revised would have been capitalized and depreciated over 
agreement between the United Mexican States the life of the related projects. 
and CIMMYT, Int. concerning the establishment 
of the headquarters of the Center in Mexico was The combined financial statements of the 
signed on June 27,2003 with retroactive effect Organization have been prepared on the accrual 
from January 1,2003. Due to its status as an basis of accounting. 
international not-for profit organization, the 
Organization is exempt from income taxes. 2. SIGNIFICANT ACCOUNTING POLICIES 
Basis of presentation - The Organization A summary of the significant policies followed 
maintains its books and records in US.d ollars, in and used under the Manual are as follows: 
accordance with the CGIAR Accounting Policies 
and Reporting Practices Manual, herein after a. Revenue recognition - Grants, whether restricted 
referred to as "the Manual", for report or unrestricted, are recognized as revenues only 
presentation and specific accounting principles. when grant conditions have been substantially 
met or the donor has explicitly waived such 
conditions. 
9 
b. Accounts receivable - Donor accounts receivable Estimated useful life for property and equipment 
represent amounts recoverable from donors for are shown below: 
unrestricted and restricted grants promised or 
pledged for which conditions have already been Estimated useful life 
met. Donor receivables are stated at their gross Asset 
. . . . . . .. ..  ..  (yea..  rs) .. . 
principal amounts, less any provision for Equipment for restricted projects 1 
doubtful accounts. The provision for doubtful Agricultural equipment 10 
accounts is based on the estimated collectible Furniture and fixtures 10 
balances developed through management's Computers 3 
periodic review and analysis of the receivable laboratory equipment 3 
balances, as well as assessment of the prevailing Vehicles 4 
and anticipated economic conditions. Uncollected Buildings 20 - 40 
outstanding grants receivable are written off 
through the allowance for doubtful accounts in f .  Income taxes - The Organization is tax-exempt; 
the year in which they are identified. accordingly, no provision for income taxes has 
c. Cash and cask equivalents - Cash comprises cash been made in the accompanying combined 
on hand and in banks. The Organization financial statements. 
considers all highly-liquid debt instruments g. Accounts payable to donors - These represent 
purchased with an original maturity of three grants received in advance from donors for 
months or less to be cash equivalents. unrestricted and restricted grants, for which the 
d. Inventories - Inventories are stated at the lower grant conditions have not yet been met. 
of cost or market value. Cost includes the h. Other accounts payable and accruals - These 
purchase price plus any cost of conversion and represent amounts to be paid in the future for 
other costs incurred in bringing the inventories to goods or services received, whether billed by the 
their present location and condition. Cost is supplier or not. 
determined using the average cost method. 
i. Employee retirement obligations - Seniority 
e. Property and equipment - Land and buildings are premiums, retirement plans, and severance 
initially recorded at acquisition cost and may be payments at the end of the work relationship 
periodically revalued based on independent (paid to all employees in all cases, whether 
appraisals. Buildings are depreciated using the termination was voluntary or involuntary), are 
straight- line method based on the remaining recognized as costs over employee years of 
useful life as determined by the appraiser. service and are calculated by independent 
Property and equipment is recorded at actuaries using the projected unit credit method 
acquisition cost. Cost includes the purchase price at net discount rates. Accordingly, the liability is 
and all other incidental costs incurred in bringing being accrued which, at present value, will cover 
the asset to its present location and condition for the obligation from benefits projected to the 
its intended use. Depreciation of equipment is estimated retirement date of the Organization's 
calculated on a straight-line basis so as to expense employees. 
the cost of assets over their estimated useful lives, j .  Zndirect recovey costs - Indirect recovery costs 
in accordance with the Manual guidelines, as represents the indirect costs recovered from 
determined by management. The property and restricted projects based on the rates agreed and 
equipment acquired through the use of grants as stated in project documents with the donors. 
restricted for a certain project is recorded as an 
asset. Such assets are fully depreciated in the year k. Provisions - Provisions are recognized for current 
of acquisition and the depreciation expense is obligations that (i) result from a past event, (ii) are 
charged directly to the appropriate restricted probable to result in the use of economic 
project. resources, and (iii) can be reasonably estimated. 
1. Use ofestimates - The preparation of the combined 
financial statements in conformity with the 
Manual policies requires management to make 
estimates and assumptions that affect the 
10 
reported amounts of assets and liabilities and During the years ended December 31,2005 and 
disclosure of contingent assets and liabilities at 2004, the Organization wrote off uncollected 
the date of the combined financial statements and donor and other receivables totaling $224, and 
the reported amounts of revenues and expenses $732, respectively. Such amounts are presented as 
during the reporting period. Although bad debt expense in the combined statement of 
management believes the estimates and activities under "Other losses and expenses". 
assumptions used in the preparation of these 
combined financial statements were appropriate 
in the circumstances, actual results could differ 5. PROPERTY AND EQUIPMENT 
from those estimates and assumptions. 
During December 2003, in order to properly 
m. Reclassiji'cntions - Certain amounts in the support the land and building balances, the 
combined financial statements as of and for the Organization changed its method of accounting 
year ended December 31,2004 have been for land and buildings from historical cost to fair 
reclassified in order to conform to the value and obtained an appraisal of land and 
presentation of the combined financial statements buildings resulting in a net increase of $9,151, for 
as of and for the year ended December 31,2005. which a debit of $2,707 was included in the 
cumulative effect of changes in accounting 
principles directly in net assets for the cumulative 
3. CASH AND CASH EQUIVALENTS effect through January 1,2003.A  credit of $11,858 
was included as the effect of revaluation for the 
2005 2004 year ended December 31,2003. An additional 
Cash on hand and at banks S 474 S 5,619 adjustment of $370 was recorded during 2004 to 
Short-term investments 12,578 8,500 properly consider the effect of exchange rates for 
2004 in the transaction. 
Total $ 13,052 $ 14,119 
In addition, for 2005 and 2004 the Organization 
During periods of cash surplus, the Organization depreciated $851 and $689, respectively, for 
makes short-term investments based on fixed equipment purchased for restricted projects in 
interest deposits. Investments in Mexican pesos compliance with the Manual. 
are held in a short-term interest-bearing account 
in a Mexican bank or in governmental securities. Depreciation expense amounted to $1,953 and 
Interest is credited to income as earned. $2,097 for 2005 and 2004, respectively. 
Refer to Exhibit 3 for a detailed analysis of 
property and equipment. 
4. ACCOUNTS RECEIVABLE - DONORS 
2005 2004 6. ACCOUNTS PAYABLE - DONORS 
Funds: 
Unrestricted S 2,892 S 753 Funds 2005 2004 
Restricted 6,495 5,500 
Less - Allowance for expenses Unrestricted S 1,321 S 997 
paid on behalf of projects in Restricted 4,881 6,916 
excess of grants received (1,1641 Total $ 6,202 $ 7,913 
Less -Allowance for doubtful accounts (200) (200) 
8,023 6,053 
Due from the 'Generation 
Challenge program" 81 427 
~~~ 
Total $ 8,104 $ 6,480 
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7. CHALLENGE PROGRAM AND 8. ACCRUALS AND PROVISIONS 
COLLABORATIVES 
2005 2004 
Funds 2005 2004 
... .. _. . . . _. ... - . . .. . I Reserves, research (other institutions) S 156 S 270 
Restricted - Challenge Program S 5,853 S 6,720 IRS staff development 117 
Restricted - Collaborative Projects 250 320 Other 299 210 
Total $ 6,103 $ 7,040 Payroll withholding 128 
Total $572 $608 
The Generation Challenge Program (the 
"Program") is a consortium formed by different 
organizations (the "Consortium Members"), 
whose principal goal is to increase food security, 9. CAPITAL LEASES 
improve livelihoods, improve development by 
unlocking the genetic potential of crop species Rental commitments under capital leases are as 
and their relatives and enhancing the use of follows: 
public genetic resources in plant breeding 
programs through the concerted generation, 2005 2004 
management, dissemination, and application of 
comparative biological knowledge. Present value of obligations S - s 79 
The Program is supported by the World Bank, the 
European Commission, DFID, other donors 
(collectively the "Supporter Organizations") and 10. EMPLOYEE RETIREMENT OBLIGATIONS 
is governed by the an independent Steering 
Committee. Net period cost (income) for obligations resulting 
The Organization acts as a host agent and must from the retirement plan, seniority premiums and 
comply with the following: severance payments were $83 and $(96) in 2005 
and 2004, respectively. Included as a current 
a) Establish and oversee the operation of the liability as of December 31,2005 is $1,190, which 
Account; is expected to be paid in 2006 related to the 
b) If requested by the Consortium Members for Organization's early retirement program. 
a particular Commercialization arrangement, 
collect and pay royalties, license fees and The Organization maintains a defined retirement 
other receipts; and plan for all employees, which pays benefits to 
c) Make all payments approved by the Program employees who reach 60 and 45 years of age and 
Steering Committee, including Programs 10 and 20 years of continuous services, 
funds to be made available to the Consortium respectively. The normal benefit consist in a 
Members. percentage of the legal compensation, taking into 
consideration the years of service provided to the 
The liability due to the Program in the combined Organization; the anticipated benefit consist in 3 
statements of financial position represent the months of salary plus 20 days of actual salary for 
resources provided by the Supporter each year of service. 
Organizations that are held in the Organization's 
bank accounts and managed by the Organization This plan also provides seniority premium 
until the Steering Committee decides their benefits, which consist of a lump sum payment of 
distribution or application. 12 days' wages for each year worked, calculated 
using the most recent salary, not to exceed twice 
the legal minimum wage established by law. 
12 
11. NET ASSETS 13. EXPENSES AND LOSSES 
Net assets represent the residual balances of total Program-related expenses are expenses incurred 
assets minus total liabilities. The net assets are by the Organization's principal programs and 
further classified as follows: supporting cost centers as described below. 
Unrestricted, designated net assets - Represent Research - These expenses are incurred in direct 
net assets whose use is not restricted by donors research operations by the following programs: 
but restricted by the Organization management Genetic Resources; Impacts Targeting and 
for specific purposes. For the Organization, this Assessment; African Livelihoods; Tropical 
represents the accumulated cost of property and Ecosystems; Rain Fed Wheat Systems; and 
equipment, net of accumulated depreciation. Intensive Agro-Ecosystems. 
Unrestrkted, undesignated net assets - Includes Research support - These expenses are incurred in 
the accumulated surplus. These assets are direct support to research activities addressed in 
intended to be used to meet the Organization's the research programs listed above. 
ongoing cash requirements. 
Information services - Includes the costs of 
publication of annual reports and technical 
12. REVENUES bulletins, transla tion and printing of various 
public information activities, as well as the cost of 
a. Grants - Funds received from donors are used to library services. 
support the Organization's programs. Programs Training - Except for amounts charged directly to 
must fall within the mandate of the Organization research programs, training includes the costs 
and be approved by the Board of Trustees. These applicable to trainees from various developing 
must also be approved by the members of the countries. These costs are incurred in Mexico and 
CGIAR, who then provide the funding (see in regional offices. 
Exhibit 2).G rants are divided into unrestricted 
and restricted grants. Unrestricted grants are Management and general expenses - These 
used to support the Organization's activities. expenses comprise general administration 
Restricted grants also support the Organization's expenses, including expenditures applicable to 
activities, but they must be used for the activities the Board of Trustees, Management, Finance, 
mutually agreed upon by the Organization and Human Resources, Purchasing, Supplies, 
stipulated by the donor. Building Maintenance, Security, General Services, 
and Housing. 
b. Other revenue and gains - For the years ended 
December 31,2005 and 2004, other revenues and a. Program-related expenses incurred are as follows: 
gains are as follows: 
2005 2004 
2005 2004 Research S 29,700 S 20,747 
Restaurant and snack bar S 300 S 261 Research Support 3,639 2,509 
Housing and laundry 323 292 Information Services 732 664 
Interest income 403 07 Training 130 45 
Recovery of value-added tax 350 Total S 34,297 $31,965 
Corporate support 63 94 
Gain from sale of fixed assets 04 94 b. Other losses and expenses are as follows: 
Cancellation of accruals 492 
Total $ 1,531 2005 2004 
Exchange gain-net s (54) s (12) 
Bad debt expense 224 732 
Interest expense and bank commissions 169 82 
Other 15 60 
Total $ 354 $ 862 
13 
14. COMMITMENTS AND CONTINGENCIES 15. SIGNIFICANT MEXICAN PESO 
TRANSACTIONS 
Commitrnetzts - The Organization believes that it 
has complied with all aspects of contractual At December 31,2005, the Organization had 
agreements, grants, and donor restrictions that current assets and liabilities denominated in 
could have an effect on their combined financial Mexican pesos (MXP$)a mounting to 
statements. MXP$11,748,321 (MXP$10,111,111 in 2004) and 
MXP$10,338,247 (MXP$9,062,987 in 2004), 
Contingencies - As explained in Note 1, the respectively, which are included in the combined 
Organization has an agreement with The statements of financial position at their US dollar 
Secretary of Foreign Affairs of the Government of equivalents, resulting from applying the yearend 
Mexico (“SRE”),w hich recognizes the exchange rate. 
Organization as having a status of an 
international Organization and therefore is During 2005, the value of the Mexican peso 
exempt for income taxes, however the compared to the US dollar increased from 
Organization is still in negotiations with the SRE MXP$11.21 to MXP$10.68 (while it decreased 
in order to clarify if the agreement also states that from MXP$10.24 to MXP$11.39 in 2004). The 
the Organization is also exempt of state and translation effect for 2005 was $26, ($60 in 2004), 
municipal taxes. In the case that SRE gave an and the monetary exchange fluctuation for 2005 
unfavorable opinion regarding this exemption of was a gain of $54, ($12 in 2004). As of March 3, 
state and municipal taxes it could lead to certain 2006, the date of issuance of these combined 
legal and tax contingencies for the Organization. financial statements, the exchange rate was 
MXP$10.49 Mexican pesos per $1.0 US dollar. 
14 
S U P P L E M E N T A L  
S C H E D U L E S  
Centro International de Mejoramiento de Maiz y Trigo, International and Exhibit 1 
Centro International de Mejoramiento de Maiz y Trigo, A. C. 
Schedule of Grant Revenue - Unaudited 
For the years ended December 31,2005 and 2004 (Thousands of U.S. Dollars) 
. 2005 2004 
. ;. ........... .. .
!.. . ..  . .  . . . . .  
."I..' ..:: :;;::,I ;(Unal;diieij :. ',;.:- . il .,
............ ..;& .. :. . 
Funds Accounts Advance 
Donors received receivable payment Grant Grant 
Unrestricted 
Australia 568 568 506 454 
Belgium 204 
Canada 1,084 946 1,798 
China 140 130 130 140 
Denmark 438 438 463 
France 143 143 
Germany 162 162 309 
India 113 113 113 
Japan 1,297 1,297 1,503 
Korea 50 50 50 
Mexico 25 25 
Netherlands 798 398 842 
New Zealand 202 252 50 
Norway 303 303 294 
Peru 10 
Philippines 4 7 7 7 
Sweden 698 155 345 385 
Switzerland 491 491 31 2 
Thailand 11 11 21 
United States 3,241 989 3,956 4,232 
United Kingdom 1,541 1,541 1,540 
World Bank 1.950 200 1r.75- 0  1,800 
Subtotal - Unrestricted 11,468 2,892 1,321 13,308 13,710 
Restricted 
ADB (Asian Development Bank) 333 58 100 318 390 
Australia 
AusAlD 65 234 501 
Australian Centre for International Agricultural Research 168 18 56 131 85 
CRC Molecular Plant Breeding 292 176 330 393 
Grains Research and Development Corporation 1,149 271 101 1,105 1,138 
Belgium 9 196 448 
Bolivia (A GRICOM-Seeds, S.A) 1 
Brazil 20 22 6 2 
Canada 
Agriculture and Agri-Food 1s 
Canadian International Development Agency 1,930 21 8 15 2,045 919 
CGIAR 
Centro International de Agricultura Tropical 5 4 9 55 
International Center for Agricultural Research in the Dry Areas 29 11 40 
International Crop Research Institute for the Semi-Arid Tropics 3 2 7 4 
International Livestock Research Institute 169 137 32 
16 
Schedule of Grant Revenue - Unaudited ....c ont'd 
2005 2004 
. . .  . 
.. . .' .. . . 
..   .,. .< .,;..'.;.: .?."::""'" ' .'.:  . .  . 
.i .. I. ' . 'I .:, (Uaardifed). I 
' ,: ; . . I  
'Funds Accounts 'Advance 
Donors received receivable payment Grant Grant 
International Plant Genetic Resources Institute 8 2 IO 
International Rice Research Institute 20 20 
International Water Management Institute IO 80 62 75 
Standing Panel on Impact Assessment 2 4 15 
Challenge Program 
Biofordfication 750 323 80 983 684 
Generation 1,891 8 661 1,603 406 
Water and Food 21 1 50 262 
China 
CAAS 300 300 
Lamsoo Milling Company 4 
Colombia 
FENALCE (Federacibn de Cultivadores de Cereales y Leguminosas) 153 65 26 165 103 
Ministry of Agriculture and Rural Development 57 2 5 105 
Denmark 116 74 140 69 
European Commission 2,293 1,889 25 1,905 2,348 
FA0 45 21 20 49 30 
France 
DRIC(De1egation aux Relations Internationales et a la cooperation) - 1 480 
Club Cinq 100 7 90 
Germany 
Federal Ministry of Economic Cooperation and Development 61 1 295 300 882 945 
IAEA(lnternationa1 Atomic Energy Agency) 10 IO 15 IO 
IFAD (International Fund For Agricultural Development) 414 113 56 558 165 
IDB(lnter.American Development Bank) IO IO 
Iran, Islamic Republic of 155 55 241 21 5 
Italy 
ENEA 12 6 6 
Societe Produttori S.p.A. 24 13 1 1  
Japan 
Economic Cooperation Bureau, Ministry of Foreign Affairs 574 568 466 1,315 779 
Nippon Foundation 522 24 71 9 584 
Sosakawa Africa Association 25 25 
Kazaksthan, Republic of 12 3 I5 
Korea, Republic of 
Rural Development Administration 110 108 120 85 
Mexico 
CODEPAP (Consejo de Desarrollo de la Cuenca de Papaloapan) 17 
CONABIO (Comision National para el Conocimiento 
y Uro de la Biodiversidad) 16 15 
CONACYT (Conseio National de Ciencia y Tecnologia) 188 3 97 95 88 
SAGAR (Secretaria de Agricultura, Ganaderia, 
Desarrollo Rural y Pesca) 54 7 1,033 
Fundacion Guanajuato Produce A.C. 41 16 35 40 
Fundarion Sonora 190 27 108 72 194 
ICAMEX 53 16 4 30 35 
Grupo Industrial Bimbo (Industrial quality in wheat) 
Universidad National Autonoma de Mexico 9 3 8 6 
17 
Schedule of Grant Revenue - Unaudited ....c ont'd 
2005 2004 
... ..*. ..  . . ., . .. . .. ... :' ...:,I.ll.: (Unaudited) .,::. :.: . 
Funds ' Accounts Advance 
Donors received receivable payment Grant Grant 
Miscellaneous Research Grants 21 BO 15 54 
Netherlands 
BASF 23 41 
Environmental Assessment Agency 12 12 
Ministry of Foreign Affairs 432 
New Zealand 21 
Norway 30 
OPEC Fund for International Development 50 36 86 14 
Other 110 126 178 21 1 
Paraguay (Camara Paraguya de Exportadores de Cereales y Oleaginosas) - 6 
Peru 40 40 46 24 
Rockefeller Foundation 1,505 73 61 9 1,899 2,383 
Sehgal Foundation 50 
South Africa 
National Department of Agriculture 50 72 60 64 
Spain 
Agrovegetal, S.A. 106 149 63 
Ministerio de Agricultura, Pesca y Alimentation 240 272 190 324 188 
Sweden 20 1 21 17 
Switzerland 
Swiss Agency for Development and Cooperation 980 27 1 1,219 909 
Syngenta Foundation 1,058 447 085 647 
Turkey, Republic of 
Ministry Of Agriculture And Rural Affairs 253 253 
UNDP 
United Nations Development Programme (Africa Bureau) 24 23 
United Kingdom 399 6 246 669 464 
Uruguay 80 1 2 
USA 
Cornell University 54 25 66 58 
Monsanto Fund 6 
National Center for Genome Resources (NCGR) 5 18 
Oklahoma State University 3 
Pioneer Hi-Bred International 50 50 31 9 
Stanford University 19 4 10 33 76 
United States Agency for International Development 2,955 148 577 2,058 3,089 
United States Department of Agriculture 237 314 16 385 313 
Washington State University 52 282 204 178 
World Bank 1,674 78 3,067 1,476 
Subtotal - Restricted before provision 22,322 6,495 4,881 25,876 23,690 
Less - Cost of expenses incurred not recovered (1,1641 
Subtotal - Restricted after provision 22,322 6,495 4,881 24,712 23,690 
Total Grants - Donors Unrestricted and Restricted 33,790 9,387 6,202 38,020 37,400 
18 
Centro International de Mejoramiento de Maiz y Trigo, International and Exhibit 2 
Centro International de Mejoramiento de Maiz y Trigo, A. C. 
Restricted Pledges and Expenses - Unaudited 
Far the period from January 1,2005 to December 31,2005 (Thousands of U.S. Dollars) 
ExDenditures 
Grant Period Grant Prior Current 
Donor and Program/ Praiect W D D / r r )  Pledged Years Year Total 
(Unoudited) (Unoudiied) (Unaudited) (Unoudited) 
ADB (Asian Development Bank) 
Application of biotechnology to moize improvement in Asia (AMBIONIT) 02/25/98-09/30/05 2,400 2,223 179 2,402 
Enhancing Maize Productivity in Orought-Prone Environments in 
Eost and Southeast Asia 03/01/05-02/28/08 750 120 120 
Enhonciig formed Income ond livelihoodsT hrough Integrated Crop and 
Resource Management in the Rice-Wheot System in South Asia 03/01/05-02/28/08 40 19 19 
Total 3,190 2,223 318 2,541 
Australia 
Australian Centre for International Agricultural Research 
Wheat physiology 07/0 1/99-06/30/06 523 a 444 16 460 
Seeds of life - lost Timor 11/01/00-06/30/05 65 50 IS  65 
Ensuring productivity and food security through sustainable control of 
yellow rust of wheat in Ai0 01/01/05-12/31/09 700 b 94 94 
Scoping the long-term technicol and economic feosibility of wheat production 
in southern Bangladesh 10/01/05-08/31/06 33 c 6 6 
Total 1.32 1 494 131 625 
AusAlD 
Improving risk management in moize systems in Southern Ahito Phose II 07/01/01-12/31/04 619 d 634 17 651 
Wheat 8 maize far Afghanistan "Seeds of Strength' 07/0 1/02-06/30/07 1,283 e 678 218 896 
Total 1,902 1,312 235 1,547 
CRC for Molecular Plant Breeding 
CRC for Molecular Plant Breeding 07/01/97-06/30/10 3,010 1,851 330 2,181 
Grains Research and Development Corporation, Australia 
Synthetic wheots for toleronce to heot and moisture stress 07/01/99-06/30/05 957 f 897 110 1,007 
Enhanced evoluotion of CIMMYT spring breod wheat germplasm in Austrolio 07/01/01 -12 /31/05 566 g 424 142 566 
Kornol bunt 07/0 1/ 03-06/30/06 296 h 146 I01 247 
Synthetic wheots 07/0 1/ 03-06/30/06 317 I 77 141 218 
Wheat genotypes 07/0 1/ 03-06/30/08 987 i 259 238 497 
Wheot root diseases 07/01/03-12/31/07 197 k 97 68 165 
Program management 0710 1/ 03-06/30/08 98 I 20 8 28 
Australion Cereal Rust Control progrom 07/0 1/ 02-06/30/07 1,245 m 478 273 751 
Wheot Frost Project 06/0 1/ O4-05/30/07 35 n 1 16 17 
CSlRO Brisbone 02/0 1/05-07/3 1 /OS 8 0  8 8 
Total 4.706 2.399 l.lO5 3.504 
Belgium 
Non-specific foliar pothogens of wheat 0 1/ o 1/00- 1 2/3 1 /os 1.897 2.025 196 2.221 
Brazil 
Specialized consultonry services and training 01/01/04-12/31/05 20 2 6 8 
Canada 
Canadian International Development Agency 
PPM development for the Horn and Eost Africo OM 3/03-12/31/07 3,224 p 1,189 881 2,070 
Conodo Fund for Africo 01/01/03-12/31/05 895 280 688 968 
Combating Hidden Hunger in Lotin America: Biohif ied Crop with 
Improved Vitamin A, Essential Minerals and Quality Protein 01/01/05-12/31/05 131 q 1 I6 116 
Combating Hidden Hunger in Lotin America: Deployment of 
Quality Protein and Beto Carotene Maize 361 360 360 
Total 4.611 1.469 2,045 3,514 
19 
Restricted Pledges and ExDenses - Unaudited ...c ont’d 
Expenditures 
Grant Period Grant Prior Culrent 
Donor and Program/ Propd MM/DD/UY) Pledged Years Year Total 
(Unaudled) (Unaudited) (Unaudited) (Unaudited) 
CGIAR 
Centro Internacional de Agricultura Tropical (CIAT) 
Geographic Targeting of Biofortified Crop 03/01 /05-01 / 3 1/ 06 1 1  5 5 
Incremento de la production de maiz en el tropito de Bolivia 10/01/04-06/30/07 25 4 4 
Total 36 9 9 
International Center for Agricultural Research in the Dry Areas (ICARDA) 
Increased Productivity and profitability of Wheat-based Cropping Systems 
to Reduce Reliance M Opium Poppy in Northern Afghanistan 01/01/05-12/31/06 107 40 40 
International Crop Research Institute for the Semi-Arid Tropics (ICRISAT) 
CA on rainfed agriculture 12/15/03-03/31/05 11 4 7 11 
International livestock Research Institute (ILRI) 
lLRl Joint stoping study 04/01/05-12/31/05 25 19 19 
Conservation agriculture, livestock and livelihoods strategies 07/0 1/ 05-06/30/07 351 13 13 
Total 376 32 32 
Internationol Plant Genetic Resources Institute (IPGRI) 
Impact Assessment Learning Workshop 04/15/05-02/28/06 1s 10 10 
International Rice Research Institute (IRRI) 
Internet II connectivity 04/29/05-12/31/05 20 20 20 
International Water Management Institote (IWMI) 
Assessing the impacts of zero tillage and other resource 
conserving technologies 04/0 I/O3-03/3 1/06 150 102 40 142 
Maizefinder 06/0 1/ 04-05/3 1/ 05 32 12 22 34 
Total 182 114 62 176 
Standing Panel on Impact Assessment 
CWA Study 10/01/03-09/30/04 30 24 4 28 
Challenge Programs 
Biofortificatioa 
HarvestPlus Challenge Program 09/0 1/ 03-1  2/3 1/ 03 121 117 4 121 
Assesing the potential of biofortificationt o address micronutrient deficiencies 01/01/04-09/30/05 100 70 24 94 
Moize systems study 01/01/04-06/30/05 90 74 16 90 
Biofortifiedw heat for improved human nutrition 01/01/04-12/31/05 825 175 553 728 
Biofortified crops for improved human nutrition 01/01/04-12/31/05 648 142 370 512 
Preference of Maize Consumers in Eastern Africa 01/01/05-12/3 1/05 17 16 16 
Total 1,801 578 983 1,561 
Generation 
Commissioned Projects 2004 01/01/04-10/31/05 771 406 364 770 
Commissioned and Competitive Projects 2005 01/Ol/O5-12/3I/05 3,327 1,120 1,120 
Develop innovative biotechnology approaches to improve the 
drought tolerance of tropical maize. GCP-CIMMYI 04/0 1/ 05-03/31/07 640 106 106 
An eco-physiological - statistical fromework for the analysis of GxE and 
QTLxE os occurring in abiotic stress trials, with applications to the CIMMYT 
drought stress programs in tropical maize and bread wheat. WU-CIMMYI 07/0l/O5-l2/3I/O7 90 8 8 
Functional genomics of crass-species resistance to fungal diseases in 
rice and wheat (CEREALIMMUNITY). CIRAD-CIMMYI 01/01/05-12/31/07 105 5 5 
Total 4,933 406 1,603 2,009 
Water and Food 
Increased food security and income in the Limpopo Basin through integrated 
crop, water and soil fertility options and public-private partnership 01/01/05-12/31/09 396 60 60 
Conservation agriculture for the dry-land areas of the Yellow River Basin 03/01/05-02/26/09 1,518 202 202 
Total 1,914 262 262 
20 
Restricted Pledges and Expenses - Unaudited.. .cont’d 
Expenditures 
GnmtPer iod Grant Prior Current 
Donor and Program/ Pro jed MM/DD/YY) Pledged Years Year Total 
(Unaudited) (Unoudwed) (Unaudited) (Unaudited) 
China 
WS 01/01/00-12/3l/05 1,486 300 1,786 
Lamsoa Milling Company 
Wheat tansultancy 12/01/00-03/31/04 30 26 4 30 
Colombia 
FENALCE (Federaciin de cultivadares de Cereales y Leguminaas 
Genetic resistance to tercospora zea maydis in maize in Colombia and 
development of maize resitant to Phyllathora maydis 04/0 1/02-03/3 1/ 05 70 r 62 11 73 
Selercion de hibridos 09/16/03-09/15/06 260 s 93 99 192 
Obtention de hibridos y variedades meioradm de maiz 03/29/05-03/28/08 157 t 46 46 
Generation de Germoplasma Tolerante a Suelos Acidos que se desarrollan 
en ols llanos orientales 10/01/05-12/3l/05 25 9 9 
Total 512 155 165 320 
Ministry of Agriculture and Rural Development 
Maize for acid soils 01/01/95-12/31/04 1,279 1,274 5 1,279 
Denmark 
Secondment of Danish scientist 01/01/03-12/31/05 178 82 72 154 
Pilot program on increasing the availability of quality fodder for 
dairy production in Bangladesh 09/01/05-06/30/06 186 u 68 68 
Total 364 82 140 222 
EC 
improved wheat for the world’s poor 01/01/03-12/3l/04 1,613 1,614 (11 1,613 
ECAMAW Coordination Unit 08/0 1/03-07/3 1/ 05 138 98 14 112 
KASSA project 01/01/04-12/3l/04 32 v 1 28 19 
Open source simple computer for agriculture in rural orem 12/12/03-06/II/06 220 w 13 17 30 
l a  Ex-situ Genetic Resources 01/01/05-12/31/05 562 x 560 560 
1 b In-situ Genetic Resources 01/01/05-12/3l/05 562 y 560 560 
1 d Breeding Technologies 01/01/05-12/3l/05 644 z 64 1 64 1 
ECAMAW II 04/01/05-11/30/06 306 aa 86 86 
Total 4,077 1,726 1,905 3,631 
FA0 
Study to development quantitative measures of the costs of 
accessing crop genetic diversity 08/01/03-07/31/01 42 22 20 42 
Preparation of two case studies on sustainable agricultural intensification 11/01/04-02/28/06 31 23 23 
Use of Experts for technical cooperation oi/oi/os- I 2j3 1 /os 6 6 6 
Total 79 22 49 71 
Germany 
Federal Ministry of Economic Cooperation and Developmen? 
Developing and disseminating stress tolerant maize for sustainable food 
security in Eastern and Central Africa 01/0 1/ 02-08/31 /05 1,280 1,245 13 1,258 
Regional network on wheat promotion and seed production in Central Asia 05/0 1/ 02-12/3 1/ os 545 31 1 248 559 
Winter cereal variety promotion 08/0 1/ 03-07/05/05 70 45 26 71 
Uzbekistan Project 02/01/04-12/3l/06 152 26 27 53 
Facilitating the widespread adoption of conservation agriculture in maize 01/01/04-12/31/06 1,447 252 457 709 
Improving the value of maize os livestock feed to enhance the 
livelihoods of maize-livestock farmers in East Africa 03/01/05-02/28/08 675 ab 90 90 
Axel h e n In -kind 01/01/05-12/31/05 21 21 
Total 4,169 1,879 882 2,761 
IAEA (International Atomic Energy Agency) 
Use of carbon and nitrogen isotopes to improve water and 
nitrogen use efficiency 11/20/03-11/19/06 30 IO 15 25 
21 
Restricted Pledges and Expenses - Unaudited... cont’d 
Expenditures 
Grant Period Grant Prior Current 
Donor and Program/ Proied MM/DD/rv) Pledged Years Year Total 
(Unaudited) (Unoudited) (Unaudiled) (Unaudited) 
International Fund For Agricultural Development 
Rising demand of maize and intensificotiono f Asian upland h m i y s ystems 11/01/00-06/30/05 750 702 24 726 
Technology Adoption in Eastern Gangetic Plains 09/0 1/ 03-09/30/06 500 143 151 294 
Developing and Disseminating StresTolerant Maize for Sustainable Food 
Security in East, West and Central Africa - Phase I1 05/10/05-06/30/08 1,300 382 382 
~~ ~~ ~ 
Total 2,550 845 557 1,402 
Inter-American Development Bank 
Coracterization y desarrollo de germoplasmo de trig0 
adaptodo a Siembra Directo 01/26/05-01/25/07 10 
Iran ,I slamic Republic of 
High-yieldingv arieties resistant to cereal diseases 01/01/95-12/3I/O5 1,405 1,219 184 1,403 
Wheat improvement training 01/01/01-12/3l/05 718 495 57 552 
Total 2,123 1,714 241 1,955 
Italy 
ENEA 
Durum wheat drought stress 01/01/05-12/3l/05 12 6 6 
Societa Produttori S.p.A. 
Durum Wheat Genes/tlTLs 09/0 1/05-08/3 1/ 07 120 11 11 
Japnn 
Economic Cooperation Bureau, Ministry of Foreign Affairs 
6 6  lncrasing wheat productivity and sustainabilityi n stressed environments 01/01/02-12/3I/O5 951 682 170 852 
Maize Genetic Resources: Germplasm Bank 01/01/02-12/3l/05 464 626 238 864 
Maize Genetic Resources: Germplasm Bank Enhancement 01/01/02-12/3l/05 1,060 594 176 770 
fHB - Scientist 06/01/04-05/3 1/ 09 2,870 172 667 839 
Research Support - Masahira Kishii 11/01/04-10/31/05 45 23 23 
Hiro Nakamura In-kind 01/01/05-12/31/05 40 40 
Total 5,390 2,074 1,314 3,388 
Sasakawa Africa Association 
Food Security in Ethiopia: ldentifiying Wheot Germplasm Resistant to 
a New Race of Stem Rust and Training Ethiopian Scientists 01/01/05-12/3l/05 25 25 25 
Nippon Foundation 
Increasing the availability of quality protein maize ((IPM) 01/01/97-12/3I/O6 4,327 2,997 719 3,716 
Kasakrfhan, Republic of 
Kazbkhstan tonsultont 04/20/05-04/20/06 24 15 15 
Korea 
k i t i ng  scientist 01/01/01 -06/30/07 300 289 120 409 
Mexico 
CONABIO (Cornision Nacional para el Conocimiento y Us0 de la Biodiversidad) 
Evaluation de la Resistencia a Sequia en Razas Criollos Mexicanas de Trigo y 
determination de relationes entre lo respuesta de sequio y el lugar de 
colecta mediante las herramie ntas de GIs 1 l/l5/05-l0/l4/06 26 
CONACYT (Conseio Nacional de Ciencia y Tecnologio) 
Tecnologias integrales para reducir las perdidm en post-tosecha de maiz 
en el Estado de Mexico 11/01/05-11/01/08 I70 ad 1 1 
Desarrollo de germoplasma ovanzado de Trigo para la selection de 
variedades, con alto production, resistencii o enfermedades, con calidad 
industrial, con aha efiaencia en el us0 de insumos baio sistemm de 
Iabranza minima, riego optimo y riego reducido 05/01/05-04/30/07 364 ae 94 94 
Total 534 95 95 
SAGARPA (Secretaria de Agritultura, Gonaderia, Desanollo Rural y Pesco) 
~ 
Yellow Maize project for Mexico 09/Ol/O5-I2/3l/O6 61 7 7 
22 
Restricted Pledges and Expenses - Unaudited ...c ont'd 
Expenditures 
Groat Period Groat Prior Current 
Donor and Program/ Project MM/DD/YY) Pledged Years Year Total 
(Unaudited) (Unaudited) (Unaudited) (Unaudited) 
Fundacion Guanajuato Produce, A.C. 
Proyedo Triticale 07/0 I/O4-06/30/06 27 of 7 13 20 
Proyecto de Trig0 07/0 1/ @l-06/30/06 27 OP 12 2 14 
Proyedo de Cebada 07/0 1/ @l-06/30/06 27 a;' 7 20 27 
Total 81 26 35 61 
Fundacion Sonora 
Desarrollo de variedades de triticale 06/0 l/O3-O5/Ol/O7 80 ai 24 43 67 
Diagnosticos de Nitrogen0 con Sensores 11/01/04-1l/OI/O6 37 ai 30 30 
Total 117 24 73 97 
ICAMEX 
Desarrollo de promotiones de lineas de triticale 07/01/04-03/01/06 71 ak 35 24 59 
Optimization del moneio de N en agritulturo de conservation 06/01/05-05/3 1/07 18 al 6 6 
Generocion y evaluation de nuevas variedades de hobo y garbanzo resistente 
a enfermedades adaptodas a los condiciones agroetologicas 
del Mado de Mexico 07/30/05-06/30/06 18 am 
Total 107 35 30 65 
Universidad National Autonoma de Mexico 
lmpacto en la introdutcion de variedodes 10/01/03-09/30/05 17 an 6 8 14- 
Miscellaneous Research Grants 792 654 IS 669 
Netherlands 
BASF 
Production and Wider On-Farm Testing 226 41 41 
EnvironmentalA ssessment Agency 
Case study on Biodiversity - Human Wellbeing linkages ot the farm and 
regional level in the Maize and Bean farming system in Chiapas, Mexico 07/01/05-09/09/05 21 a0 12 12 
Total 247 53 53 
OPEC Fund for International Development 
Stress Tolerant Quality Protein Maize (QPM) for Sub-Saharan Africo 07/01/05-06/30/06 150 86 86 
Other 
Apomixis Consortium 04/01/99-03/31/04 3,000 2,814 69 2,883 
Apomixis Phase II 0 1/ o 1/ os- 1 2/3 1/ 09 830 109 109 
Total 3,830 2,814 178 2,992 
Peru 
Maize improvement 01/01/99-12/31/05 260 214 46 260 
Rockefeller Foundation 
Strengthening seed systems in Southern Africa 09/01 /02-08/31/05 421 406 16 422 
Research and PhD training in maize breeding, with emphasis on 
tolerance to drought and low soil nitrogen 01/01/01 -04/30/06 199 98 102 200 
Strengthening the participation of East Africa notional agritulturol syrtems 
in o pan-Ahicon program to develop stress tolerant maize vorieties 08/01/02-0 1/ 3 1/ 06 480 370 I10 480 
Enhance the nutritional quolity of locally adapted maize cultivars in eastern 
and southern Africa by intorporotingt raits from "quality protein maize" 08/01/02-12/3 1/05 603 315 288 603 
Innovotive and integrated biotechnology gront 03/01/03-12/31/05 700 560 140 700 
RI maize stewardship 02/0 1/03-01/ 3 1/ 05 461 410 50 460 
The determinants and consequences of gene flow in maize landrotes and 
implications for the livehoods of Mexicon farmers 11/01/02-10/31/06 400 214 143 357 
Strengthening maize seed supply systems 12/01/03-11/30/05 308 146 164 310 
Soil Fertilityo f Southern Africa 04/01/04-07/3 1/05 444 317 197 514 
SADLF-RF Transition 2004 07/15/04-07/14/05 125 43 84 127 
RF-IRMA II 01/01/05-12/31/07 220 8 83 91 
New Seed Initiative for Maize in Southern Africa 01/01/05-12/3l/07 1,183 370 370 
23 
Restricted Pledges and Expenses - Unaudited ...c ont'd 
Expenditures 
Grant Period Grant Prior Current 
Donor and Program/ Project MM/DD/YY) Pledged Years Year Total 
(Unaudited) (Unaudited) (Unaudited) (Unaudited) 
Soil Fertility Consortium for Southern Africa, which promotes collaborative 
research and development on integrated soil fertility management 
for small-scale farmers in SA 08/0 1/05-07/3 1/08 899 72 72 
limit the impact of a new African strain of stem rust disease on 
wheat production 06/01/05-05/3 1/ 06 80 80 80 
Total 6,523 2,887 1,899 4,786 
Sehgal Foundation 
Maize Improvement by CIMMYT India 01/01/05-12/3l/05 50 so 50 
South Africa 
National Depannent of Agriculture 
Maize diseases 01/01/97-12/31/05 348 328 25 353 
Wheat breeding 01/01/98-12/31/05 298 285 36 321 
Total 646 613 61 674 
Spain 
Agrovegetal SA. 
Durum and bread wheat 09/22/98-09/21/08 1,022 ap 631 149 780 
Ministerio de Agricultura, Pesca y Alimentaciin 
Durum wheat research projed 01/ Ol/94- 12 /3 1/ 08 2,366 1,219 254 1,473 
Soraguro projed 01/01/01-12/31/08 224 89 45 134 
Recursos Geneticos de Trig0 para la sostenibilidad de 10s sistemas de 
production del tono sur Ol/01/05-l2/31/07 210 25 25 
Total 2,800 1,308 324 1,632 
Sweden 
Student thesis support 01/01/03-12/3l/04 64 36 27 63 
Switzerland 
Swiss Agency for Development and Cooperation 
Increasing productivity and sustainability of maize-based cropping systems 
in the hills of Nepal Phase II 01 /0 1/ 03-12/31  /07 2,736 906 565 1,471 
Tolerance of maize to drought and low soil fertility, phase II 01/01/00-1l/30/04 1,981 1,720 116 1,836 
Orought and tropical maize 06/18/02-06//17/05 149 91 58 149 
lhe New Seed Initiative for Maize in Southern Africa (NSIMAI 01 / O  l/O5- 1 2/3 1/ 07 1,467 480 480 
Total 6,333 2,717 1,219 3,936 
fyngenta Foundation For Sustainable Agriculture 
Insect Resistant Maize for Africa II 01/O1/04-12/31/08 2731 416 885 1,301 
Turkey, Republic of 
Turkey's CXG contribution 07/01/05-06/30/06 280 253 253 
United Kingdom 
Department for International Development 
Nepal research coordinator-PSP 04/01/01 -03/31/05 256 258 39 297 
Participatory research to increase the productivity and sustainobility of 
wheat copping systems in the eastern subcontinent of South Asia 04/01/02-07/31/05 1,208 868 220 1,096 
llrsesring the impact and facilitating the uptake of RCTs'  10/01/02-03/31/06 272 144 73 217 
Increasing food security and improving livelihoods through the promotion 01 1 1/0 1/ 02-01 / 3 1 /06 39 14 14 28 
Stress tolerant maize, soil fertility 08/01 /O4-07/31/06 394 28 271 299 
Striga control 1O /O 1/ 02-01/ 3 1/ 06 133 83 44 127 
Total 2,302 1,395 669 2,064 
USA 
Cornell University 
Rice-wheat project, Nepal 01/01/03-12/31/05 173 128 66 194 
Pioneer Hi-Bred International 
Fellowship education program in maize genetics 01/01/04-12/3l/04 40 9 31 40 
24 
Restricted Pledges and Expenses - Unaudited... cont'd 
Expenditures 
Gnat Periad Grant Prior Current 
Donor and Program/ Projed MM/DD/YY) Pledged Years Year Total 
(Unaudited) (Unaudited) (Unaudited) (Unaudited) 
Stanford University 
Nitrogen fertilizer management in Mexico 01/01/03-12/3l/05 13 13 13 
Student suppart 01/01/00-12/3l/04 152 131 20 151 
Total 165 131 33 164 
United States Agency for International Development 
Food security in Bangladeshlmprovingw heat,maize and papaya 
production, and impacts of arsenic contamination 07/01/02-06/30/07 5,461 3,569 952 4,521 
Economic impoct studies 01/01/03-12/3l/04 200 117 22 139 
India USAID suppofl to the RWC 10/01/03-09/30/06 1,500 577 497 1,074 
Seed-Ethiopia 1 1/ O 1/03-03/31/06 492 200 142 342 
Sorghum and maize comparative genomics 03/0 I/O4-02/28/06 200 30 111 141 
ACIED-RAMP project Afghonistan 12/24/03-12/24/06 67 24 24 
USAID linkage funds 01/01/04-12/3I/O5 655 95 255 350 
Stem Rust initiative 01/01/05-12/3l/05 100 54 54 
Total 8,675 4,588 2,057 6,645 
United States Department o f  Agriculture 
Wheat durable leaf rust resistance in the Southern Cone countries 01/01/01 -09/30/05 223 187 19 206 
Regeneration of maize landrace collections in Central and South America 06/01/01-05/31/06 345 271 83 354 
Facilitate internationalb read wheat, durum wheat and barley 
exchange through CIMMYT 05/01 /03- 1 2/3 1/ 05 216 205 32 237 
Choratterization and development of wheat germplasm adapted for zero tillage 09/01/02-09/30/06 60 24 3 17 
Karnal Bunt cooperative research 07/18/03-07/31/08 330 65 93 158 
Canopy Sensors for Eficient Nitrogen Use 11/01/04-10/31/06 49 13 48 61 
Novel sources of FHB Resistante in bread and durum wheat 04/22/05-04/21/06 80 34 34 
Evaluation of United States Wheat Germplasm to Stem Rust in Eastern Africa 05/27/05-06/01/10 178 71 71 
Borlaug Ethiopio/Wheat Stem Rust 09/22/05-09/30/06 34 2 2 
Total 1,515 765 385 1,110 
University Washington State 
International Cooperation for Agricultural Research in 
Central Asia and the Caucasus 07/01/03-06/30/06 494 359 204 563 
World Bank 
Global Public Goods - Genebank Upgrading 01/01/03-12/31/06 1,137 789 269 1,058 
2004-2005 Funding 01/01/04-12/31/05 2,000 358 1,353 1,711 
Strategic Staff 01/01/04-12/3I/O5 1,000 7 1,282 1,289 
AGM '04 01/01/O4-12/3l/04 934 772 163 935 
Total 5,071 1,926 3,067 4,993 
I i i ,  
TOTAL RESTRICTED GRANTS . .... . . .  .. I . ' *.. ,100,609 . 49,162 25,876 75,038 
The Columns 'G rand Period' and ' Grand Pledged" are for informotion only. 
a Equivalent to AUDS874,968 m Equivalent to AUDS1,800,000 y Equivalent to EURO 480,000 ak Equivalent to MXPS800,OOO 
b Equivalent to AUDS1,000,050 n Equivalent to AUDS45,OOO z Equivalent to EURO 550,000 a1 Equivolent to MXPS200,000 
c Equivalent to AUDS45,OOO o Equivalent to AUOS10,OOO ao Equivalent to EURO 261,241 om Equivalent to MXPS200,OOO 
d Equivalent to AUDS976,344 p Equivalent to CADS4,500,000 ab Equivalent to EURO 562,000 on Equivalent to MXPS189,OOO 
e Equivalent to AUDS2,000,000 q Equivalent to CADSI63,560 ac Equivalent to MXPS278,700 oo Equivolent to EURO 17,400 
f Equivalent to AUDS1,558,900 r Equivalent to COPS204,675,000 od Equivalent to MXPSl'800,OOO ap Equivalent to EURO 900,000 
g Equivalent to AUDS817,994 s Equivalent to C0PS730,000,000 oe Equivalent to MXPS4'000,OOO 
h Equivalent to AUDS450,OOO t Equivalent to C0PS450,000,000 of Equivalent to MXPS300,OOO 
i Equivolent to AUDS450,OOO u Equivalent to DKKS1,138,557 ag Equivalent to MXPS300,OOO 
i Equivalent to AUDSl,500,000 v Equivalent to EURO 29,000 ah Equivalent to MXPS300,MlO 
k Equivalent to AUDS300,OOO w Equivalent to EURO 199,927 ai Equivalent to ~ ~ 6 8 8 9 , 1 5 5  
I Equivalent to AUDSl50,OOO x Equivalent to EURO 480,000 oi Equivalent to MXPS411,456 
Currency definitions 
AUD- Australian Dollar 
CAD - Canadian Dollar 
COP - Colombion Per0 
DKK - Danish Krone 
25 
Centro International de Mejoramiento de Maiz y Trigo, International and Exhibit 3 
Centro International de Mejoramiento de Maiz y Trigo, A. C. 
Combined Schedule of Fixed Assets 
For the year ended December 31,2005 (Thousands of U.S. Dollars) 
Balance 2005 Balance 
1 January Additions Transfers Disposals December, 31 
1. cost 
A. land and buildings 
land 10,371 10,371 
Buildings 4,319 17 4,336 
Subtotal 14,690 17 14,707 
B. Furnishings and equipment 
Farming 5,239 152 5,305 
laboratory and scientific equipment 3,143 463 13 3,619 
Office 900 24 923 . 
Auxiliary units 123 123 
Computers $1 60 462 3 3,567 
Vehicles 4,161 423 25 4,427 
Maintenance equipment 04 84 
Software 509 30 539 
Fixed assets in transit / i n  process 45 33 37 
Subtotal 17,364 1,587 (247) 18,704 
Total cost 32,054 1,604 (247) 33,4 1 1 
II. Accumulated depreciation 
A. Buildings 1,401 110 1,591 
8. Furnishings and equipment 
Farming 4,850 207 (6) 5,059 
laboratory and scientific equipment 2,914 469 3,303 
Office 731 53 (2) 702 
Auxiliary units 87 4 91 
Computers 2,077 292 3,114 
Vehicles 3,296 167 3,885 
Maintenance equipment 01 1 02 
Software 422 50 472 
Total accumulated depreciation 16,747 1,953 18,459 
111. Net book value 
A. Land and buildings 13,209 (93) 13,116 
B. Furnishings and equipment 
Farming 381 326 
laboratory and scientific equipment 229 13 236 
Office 169 141 
Auxiliary units 36 32 
Computers 203 3 453 
Vehicles 065 25 542 
Maintenance equipment 3 2 
Software 07 67 
Fixed assets in transit / i n  process 45 33 (41 1 37 
Total net book value 15,307 (3491 - (61 14,952 
26 
Centro lnternacional de Mejoramiento de Maiz y Trigo, International and Exhibit 4 
Centro lnternacional de Mejorarniento de Maiz y Trigo, A. C. 
Schedule of Indirect Costs 
For the years ended December 31,2005 and 2004 (Thousands of U.S. Dollars) 
. .  
I 2005 . .... 
. .  .: .-  , 2004 . 
Indirect Costs 
Management and General 6,498 7,271 
Other Expenses 354 862 
Subtotal Indirect Costs 6,852 8,133 
Direct Costs 
Research 29,788 28,747 
Research Support 4,509 3,218 
Subtotal Direct Costs 34,297 31,965 
Cost Ratios 
Indirect Cost/Total Operating Costs 16.65% 20.28% 
Indirect Cost/Dired Costs 19.98% 25.44% 
27 
Centro Internationald e Mejoramiento de Maiz y Trigo, International and Exhibit 5 
Centro Internationald e Mejoramiento de Maiz y Trigo, A. C. 
Schedule of European Community (EC) Funding - Unaudited 
For the year ended December 31,2005 (Thousands of U.S. Dollars) 
Latin 
Proiect America MEDA ACP Asia CAC Total 
1,a Maize and wheat genetic diversity for 
humanity: Ex situ genetic resources S 342 s -  s 218 S - S 560 
1,b Maize and wheat genetic diversity for 
humanity: In situ genetic resources 560 560 
1,d Maize and Wheat genetic diversity for 
humanity: Breeding technologies 393 248 64 1 
Total - S1.295 $ - $ 466 $ - S1.761 
Centro lnternacional de Mejoramiento de Maiz y Trigo, International and Exhibit 6 
Centro International de Mejoramiento de Maiz y Trigo, A. C. 
Schedule of Challenge Program - Unaudited 
For the years ended December 31,2005 and 2004 (Thousands of U.S. Dollars) 
GRANT REVENUE 
2005 2004 
(Unaudited) (Unaudited) (Unaudited) (Unaudited) (Unaudited) 
Funds Accounts Advance 
Donors received receivable payment Grant Grant 
Austria S S S s 45 S 9 
European Community 6,027 6,027 5,016 
Kirkhouse 15 15 
Pioneer 20 13 40 17 
Rockefeller Foundation 030 030 
Syngenta Foundation 9 6 
Sweden 189 06 1 04 107 
United Kingdom 4,418 4,200 4,697 107 
World Bank 2,500 366 3,778 2,064 
GCP - In kind 3,483 5,250 
Total S 14,007 S S 4,673 S 19,036 S 12,664 
PLEDGES AND EXPENSES 
For the period from January 1 to December 31, 2005 
EXPENDITURES 
Grant Period Grant Prior Current 
Donor (MM/D D/Y Y) Pledged Years Year Total 
(Unaudited) (Unaudited) (Unaudited) (Unaudited) 
Austria 07/01 /03- 12 /31 /04 s 540 s 9 s 45 s 54 
European Community 07/01/03-12/31 /OS 15,095 5,225 6,027 11,251 
Kirkhouse 07/30/05-12/24/05 15 15 15 
Pioneer 07/01/04-12/31/05 70 17 40 57 
Rockefeller Foundation 03/01 /05-06/30/00 2,293 038 030 
Syngenta Foundation 07/01/04-12/31/05 15 6 9 15 
Sweden 07/0 1/ 03- 12 /31 /OS 297 107 104 21 1 
United Kingdom 07/01 /04-06/30/07 13,579 107 4,697 4,005 
World Bank 07/01/03-12/31/05 6,500 2,356 3,770 6,134 
GCP Consortium Members IK' 07/01 /03-12/31/05 5,250 3,403 0,741 
Total Challenge Program S 38,718 S 13,165 S 19,036 S 32,201 
Notes: 
a Equivalent to EURO 45,000 Currency definitions 
Equivalent to EURO 13'450,000 
I: Equivolent to SEK 2'173,333 SEK - Swedish Krona 
Equivalent to GBP 7'500,000 GBP - British Pound 
In Kind Contributions GCP Consortium Members as follow: CAAS $476 
CIMMYT 463 
CIP 400 
ICARDA 413 
IlTA 40 1 
IPGRI 527 
IRRl 400 
NlAS 403 
29 
- --  
~ 
~ 
International Maize and Wheat Improvement Center 
Apdo Postal 6 641 06600 h'iexico D F Mexico 
IVLYLV cllnnlyt OICJ June 2006