Executive Summary of the 2009 CGIAR Financial Results CGIAR. ANNUAL REPORT. 2009 53 The 2009 fi nancial outcome1 presented here is an aggregation of the audited fi nancial statements of the 15 Centers and the 5 Challenge Programs supported by the CGIAR. These statements are prepared and audited in accordance with fiduciary management and reporting standards approved by the CGIAR to guide the Centers, and they are consistent with relevant international standards. The aggregation, analyses and reports, including this summary, were produced through a joint effort of a team from the International Rice Research Institute, comprising Norman A. Macdonald, Melba M. Aquino, and Rodelita D. Panergalin, and the CGIAR Fund Office. 1. The outcome is reported in United States dollars. 54 FROM RESEARCH TO RESULTS Executive Summary of the 2009 CGIAR FINANCIAL RESULTS Background The extensive reforms that the CGIAR approved in 2008 were in transition to full implementation in 2009. A major component of the reforms was a change in the fi nancing architecture of the CGIAR anchored on establishing the CGIAR Fund to serve as a new multi-donor, multiyear funding mechanism providing financing to priority areas of agricultural research. Although the Fund was not yet operationalized in 2009, this new fi nancing architecture caused signifi cant anxiety on the part of the Centers about both the quantity and the quality of funding expected in 2009. The structural changes called for in the reforms (e.g., establishing the Consortium of CGIAR Centers and the Fund Council and transforming the CGIAR Secretariat into the Fund Offi ce) also promised important changes in fi duciary oversight and management in the system. In addition, external factors — the food price crisis and the fi nancial crisis — raised considerable concern about CGIAR funding in 2009. Overview The financial results indicate that these concerns did not have the adverse impact on the quantity and quality of CGIAR funding that was feared. Total System 2 revenues in 2009 were $629 million, an increase of $76 million (14%) from $553 million in 2008. The improvement in revenue came from increases in contributions from Members and non-members for both the research program and transition management. Contributions increased by $75 million to $606 million. This increase takes into account a $2 million foreign exchange gain on contributions not denominated in US dollars. Expenditure in 2009 was $603 million, an increase of $61 million (11%) over 2008. The net result was a surplus of $26 million. Typically, Centers use an operating surplus to build reserves. In comparison with the financing plan approved at the 2008 Annual General Meeting, actual total revenues for $629 million are 16% higher, and the $26 million surplus compares with a planned deficit of $35 million. Overall Financial Outcome A summary of the CGIAR program outcome for 2009, compared with the approved and the actual outcome for 2008, is shown in Table 1. Highlights of the System’s 2009 financial performance are shown in Exhibit 1 with comparative information for the previous 4 years. Contributions Of the total contributions of $606 million, 34% was unrestricted, lower than the 36% unrestricted funding in 2008 in percentage terms but $13 million (7%) higher in absolute terms. Correspondingly, restricted contributions increased by $62 million from $339 million in 2008 to $401 million in 2009, or 66% of funding in 2009. Exhibit 2 shows contributions to the CGIAR by source and type. 2 The CGIAR System comprises the 15 Centers supported by the CGIAR, Challenge Programs and System Offi ces. CGIAR. ANNUAL REPORT. 2009 55 TABLE 1 FIGURE 1 Summary of 2009 CGIAR-Approved Program vs Actual Outcome ($ million) CGIAR contributions, 2009 ($ million) Actual 2009 Outcome Expenditure Centers Challenge Programs System-level activities Total expenditure Revenue Funding Centers Challenge Programs System-level activities1 Subtotal funding Earned income Total revenue Net operating result 1 System Offi ce units, governance and transition management 2 CGIAR Annual General Meeting 2008 1 2009 Plan Approved at AGM082 Actual 2008 Outcome 250 200 150 220 213 Centers Partners 530 29 25 19 603 508 24 34 10 576 474 34 18 16 542 100 50 0 121 92 79 78 33 EUROPE NORTH AMERICA INTERNATIONAL AND REGIONAL ORGANIZATIONS 125 92 28 19 20 9 8 NON-MEMBERS PACIFIC RIM DEVELOPING COUNTRIES FOUNDATIONS 534 53 19 606 23 629 26 473 38 10 521 20 541 (35) 463 52 16 531 22 553 11 2009 2008 and foundations stayed at about the same as in 2008. Included in overall contributions was $7.6 million from 15 donors for transition management, as shown in Table 2.3 Members contribute in their national currency, which Centers then report in US dollar equivalent. In 2009, the impact of exchange rate movements on contributions was a net gain of about $2 million, compared with a net loss of about $3 million in 2008. The movement of the US dollar against selected currencies of contribution and expenditure during 2009 is shown in Table 3. Contributions from the top 15 Members accounted for 66% of funding in 2009. The United States of America was the largest donor, followed by the World Bank. India was the highest contributor among developing countries. The top contributors among all Members and those among developing countries in 2009 and 2008 are shown in Table 4. Resource Allocation Total CGIAR expenditure in 2009 increased by $61 million (11%) to $603 million. The following paragraphs summarize at the System level, resource allocation by object of expenditure and by CGIAR developing region. As shown in Figure 1, the increase in 2009 contributions came mainly from North America and non-members, especially the Bill & Melinda Gates Foundation. The United States of America increased its contribution by $21 million (36%) from $58 million in 2008 to $79 million in 2009, while Gates increased its contribution by $18 million (42%) from $43 million in 2008 to $61 million in 2009. Changes in contributions from other member groups were as follows: Europe increased by $7 million (3%), the Pacific Rim increased by$5 million (18%), developing countries decreased by $1 million (5%), and international and regional organizations 3 A separate report on the use of these contributions, Implementing Change and Reform in the CGIAR, was published in May 2010 and shared with contributing donors. 56 FROM RESEARCH TO RESULTS TABLE 2 TABLE 3 CGIAR Transition Management Funding, 2009 ($ million) Movement of USD versus Other Major Currencies Contribution Currencies Currency Currency Unit per USD 2008 2009 Movement1 Australia Canada China France Germany Ireland Italy Netherlands New Zealand Norway Rockefeller Foundation Switzerland United Kingdom USA World Bank Total 0.21 0.08 0.03 0.04 1.13 0.07 0.15 0.50 0.27 0.15 0.50 0.24 Expenditure Basket Currency Currency Unit per USD 2008 2009 Movement 1 YEN GBP CAD NOK SEK CHF 90.38 0.69 1.22 7.06 7.77 1.06 92.24 0.63 1.01 5.81 7.19 1.04 2% -9% -17% -18% -7% -2% EUR2 COP INR NGN KES PHP 0.71 2,251.71 49.72 141.07 84.00 47.69 0.70 2,064.63 46.89 152.35 79.17 46.42 -1% -8% -6% 8% -6% -3% 1 Negative movement indicates depreciation of the USD vs the other currency. 2 Euro is prominent in both expenditure and contributions. CAD = Canadian dollar, CHF = Swiss franc, COP = Colombian peso, EUR = euro, GBP = United Kingdom pound, KES = Kenyan shilling, INR = Indian rupee, NGN = Nigerian naira, NOK = Norwegian kroner, PHP = Philippine peso, SEK = Swedish kroner, USD = United States dollar, YEN = Japanese yen. TABLE 4 1.61 0.15 2.46 7.60 Top Member Contributions ($ million) 2009 Industrialized Countries and Multilateral Organizations United States of America World Bank Canada United Kingdom European Commission 78.9 50.0 42.4 41.6 40.7 United States of America World Bank United Kingdom Canada European Commission 2008 58.0 50.0 45.4 34.1 32.6 Expenditure by Object. As shown in Figure 2, the pattern of expenditure by object did not change significantly from 2008, with personnel cost maintaining the largest share at 42%. Expenditure by Region. As shown in Figure 3, the allocation of expenditure by region in 2009 broadly reflects the pattern seen in the past several years, confirming the CGIAR’s focus on sub-Saharan Africa. Developing Countries India China Mexico Colombia Brazil 7.2 3.1 1.2 1.1 0.8 India Nigeria China Kenya Mexico 7.5 2.6 1.1 1.0 0.8 CGIAR. ANNUAL REPORT. 2009 57 FIGURE 2 FIGURE 3 Expenditure by Object Travel 7% Collaboration & partnerships 18% Depreciation 6% Travel 8% Collaboration & partnerships 16% Depreciation 3% Expenditure by Region Central and West Asia & North Africa 7% Latin America & Caribbean 13% Latin America & Caribbean 12% Central and West Asia & North Africa 10% 2009 Personnel 42% 2008 Personnel 44% 2009 Sub-Saharan Africa 51% 2008 Sub-Saharan Africa 47% Supplies & services 27% Supplies & services 29% FIGURE 4 Asia 29% Asia 31% Center Perspectives The contribution increase noted at the System level is the aggregate of a range of outcomes at individual Centers. Total contributions for 12 Centers increased in 2009, as was the case in 2008. Contributions to WorldFish and Bioversity decreased by 7% and 3% respectively. ICRISAT remained at the same level. Financial results (contributions plus Center-earned income, less expenditure) showed that 12 Centers ended the year with a surplus, as in 2008. As a percentage of total revenues, AfricaRice and CIMMYT had surpluses of 12%, IWMI and IFPRI had surpluses of 11% and 8% respectively, and eight Centers had surpluses of 5% or less. Bioversity, IRRI and WorldFish had defi cits of 2% or less, which were planned as measures to increase investments in research. Figure 4 illustrates the financial results by Center. Exhibit 3 provides the 2009 financial results by Center and for the System as a whole, including results for those portions of Challenge Programs implemented by CGIAR partners, and compares these with 2008. Exhibit 4 provides an overview of the System’s finances (expenditure allocation and financing). Exhibit 5 summarizes the System’s overall financial position from 2005 to 2009. Summary of Challenge Programs During the year, $58 million was available for Challenge Programs, compared with $45 million in 2008, or an increase of 29%. Expenditure of $54 million in 2009 resulted in the net increase of $4 million to the cumulative balance of Challenge Program funds. Exhibit 6 summarizes Challenge Program funding and expenditure. Financial Results by Center 6.5 6.0 5.5 5.0 4.5 4.0 3.5 3.0 2.5 2.0 1.5 1.0 0.5 0.0 -0.5 -1.0 6.1 4.7 3 $ million 2.6 2.2 2.1 1.6 1.5 1.4 1.2 1.2 0.6 -0.2 -0.2 -0.5 AFRICARICE WORLDFISH CIMMYT WORLD AGROFORESTRY POSITIVE OUTCOME DEFICIT OUTCOME Conclusion The increase in funding demonstrates a global recommitment to agriculture and donor support for the reforms, as well as the Centers’ continuing strong capacity for fi duciary management. The positive results further strengthen the financial position of the Centers, positioning them to better cope with both internal and external challenges in the coming years. 58 FROM RESEARCH TO RESULTS BIOVERSITY IWMI IFPRI IITA CIAT ICRISAT CIFOR ICARDA IRRI ILRI CIP EXHIBIT 1 CGIAR Program and Resource Highlights Actual Revenues ($ million) Agenda funding (of which unrestricted) Earned income Total 450 43% 10.3 460 426 42% 22.4 448 495 36% 25.2 520 531 36% 22.3 553 606 34% 23.3 629 2005 2006 2007 2008 2009 Agenda funding ($ million) Members Europe North America Pacific Rim Developing countries Foundations International and regional organizations Subtotal Non-members Total 197 91 24 15 14 72 413 37 450 169 88 22 14 14 74 381 45 426 222 91 22 15 12 76 438 57 495 213 92 28 20 8 78 439 92 531 220 121 33 19 9 79 481 125 606 Top three Member contributors USA USA World Bank World Bank United Kingdom United Kingdom EC USA USA World Bank World Bank United Kingdom USA World Bank Canada Staffing (number) Internationally recruited Nationally recruited Total 1,100 6,774 7,874 1,115 7,039 8,154 1,096 6,986 8,082 1,163 6,904 8,067 1,238 6,922 8,160 Object of expenditure Personnel costs Supplies & services Collaboration & partnerships Travel Depreciation 45% 27% 16% 8% 4% 452 47% 27% 14% 8% 4% 458 44% 30% 15% 7% 4% 506 44% 29% 16% 8% 3% 542 42% 27% 18% 7% 6% 603 Total expenditure ($ million) Expenditure by region Sub-Saharan Africa Asia Latin America & the Caribbean Central and West Asia & North Africa 46% 30% 14% 10% 8 48% 29% 14% 9% (10) 48% 29% 13% 10% 14 47% 31% 12% 10% 11 51% 29% 13% 7% 26 Result of operations [surplus/(deficit) in $ million] Center financial information ($ million) Unrestricted net assets excluding fixed assets 158 145 159 165 199 Liquidity indicators Working capital (days expenditure) Current ratio 155 1.9 149 1.8 161 1.7 150 1.6 159 1.6 Adequacy of reserve indicator Net assets excl. fixed assets (days expenditure) 137 124 127 123 134 Fixed asset indicators Capital expenditure ($ million) Capital expenditure/depreciation 15.8 101% 16.8 107% 18.7 110% 21.2 119% 30.9 95% Efficiency of operations indicator Indirect cost ratio 21% 20% 20% 19% 17% CGIAR. ANNUAL REPORT. 2009 59 Cash management on restricted operations Restricted accounts receivable ratio 0.80 0.46 0.33 0.36 0.18 EXHIBIT 2 CGIAR Funding by Member, 2009 ($ million) Unrestricted 60 FROM RESEARCH TO RESULTS Restricted 2.3 1.7 0.9 40.7 0.5 3.3 13.2 3.5 2.9 0.8 6.2 3.0 0.2 2.5 6.7 10.1 20.3 118.8 27.7 55.0 82.7 7.9 13.6 1.1 0.9 23.5 42.4 78.9 121.3 13.1 16.1 1.5 2.1 32.8 2.3 10.6 6.4 40.7 4.8 5.3 23.8 9.7 6.3 0.8 14.5 15.5 0.4 2.6 15.0 19.7 41.6 220.0 Total EUROPE Austria Belgium Denmark European Commission Finland France1 Germany1 Ireland 1 Italy1 Luxembourg Netherlands1 Norway1 Portugal Spain Sweden Switzerland1 United Kingdom1 Subtotal NORTH AMERICA Canada1 United States of America1 14.7 23.9 38.6 5.2 2.5 0.4 1.2 9.3 0.1 0.7 0.01 0.3 0.8 0.1 0.2 0.01 0.2 0.5 0.5 0.1 0.03 0.02 3.5 152.7 0.5 0.5 8.9 5.5 4.3 2.0 10.6 6.2 3.4 8.3 12.5 0.2 0.1 8.3 9.6 21.3 101.2 Subtotal PACIFIC RIM Australia1 Japan Korea, Republic of New Zealand 1 Subtotal DEVELOPING COUNTRIES Bangladesh Brazil China1 Colombia Cote d’Ivoire Egypt, Arab Republic of India Indonesia Iran, Islamic Republic of Kenya Malaysia Mexico Nigeria Pakistan Peru Philippines South Africa Syria, Arab Republic of Thailand Turkey Uganda Subtotal Total Member Countries FOUNDATIONS Ford Foundation IDRC Kellogg Foundation Rockefeller Foundation1 Syngenta Foundation 0.01 0.8 2.4 1.1 0.2 6.4 0.1 0.4 0.3 0.1 1.2 0.2 0.4 0.5 0.4 0.1 0.2 0.3 15.0 240.0 0.5 3.6 0.3 1.5 2.1 8.0 0.1 0.8 3.1 1.1 0.01 0.5 7.2 0.2 0.6 0.3 0.1 1.2 0.2 0.4 0.5 0.6 0.5 0.6 0.1 0.2 0.3 18.5 392.7 0.5 3.6 0.3 2.0 2.1 8.5 Subtotal INTERNATIONAL AND REGIONAL ORGANIZATIONS ADB AfDB Arab Fund FAO Gulf Cooperation Council IDB IFAD OPEC Fund UNDP UNEP World Bank1 Subtotal Total Organizations Non-members Bill & Melinda Gates Foundation Others 1.3 50.0 51.3 204.5 3.1 0.7 1.3 4.2 0.7 1.5 9.1 0.5 2.4 4.7 28.2 276.2 3.1 0.7 1.3 5.5 0.7 1.5 9.1 0.5 2.4 4.7 50.0 79.5 480.7 Subtotal Grand Total 1 Includes contribution for CGIAR transition management. 0.5 0.5 61.0 63.5 124.5 61.0 64.0 125.0 205 401 606 EXHIBIT 3 Financial Results by Center ($ million) 2009 Center AfricaRice Bioversity CIAT CIFOR CIMMYT CIP ICARDA ICRISAT IFPRI IITA ILRI IRRI IWMI World Agroforestry WorldFish Subtotal System level System-level activities Unallocated Member funding Subtotal Less inter-Center activities Subtotal System level Total Plus Challenge Program partners Total CGIAR Program Agenda funding 1 22.3 35.7 48.0 23.6 48.8 32.7 31.8 47.8 62.5 48.9 54.7 48.1 28.2 33.5 17.3 584 Earned income 0.1 0.1 1.2 0.3 1.6 0.6 1.3 4.2 0.6 3.8 3.8 1.8 0.5 3.0 0.4 23 Total revenue Expenditure 22.4 35.8 49.2 23.9 50.4 33.3 33.1 52.0 63.1 52.7 58.5 49.9 28.7 36.5 17.7 607 19.8 36.3 47.0 22.7 44.3 31.8 32.5 49.9 58.4 51.3 57.3 50.1 25.7 34.9 17.9 580 Result 2.6 (0.5) 2.2 1.2 6.1 1.5 0.6 2.1 4.7 1.4 1.2 (0.2) 3.0 1.6 (0.2) 27 Agenda funding 12.5 37.0 46.3 21.3 40.8 27.4 30.1 48.0 49.9 48.4 39.9 37.5 26.1 29.3 18.6 513 Earned income 0.3 1.1 1.9 0.6 2.3 0.5 1.8 2.6 0.4 2.9 4.2 0.3 0.7 2.0 0.7 22 2008 Total revenue Expenditure 12.8 38.1 48.2 21.9 43.1 27.9 31.9 50.6 50.3 51.3 44.1 37.8 26.8 31.3 19.3 535 10.9 37.9 47.3 20.6 41.7 27.6 32.0 47.9 48.3 51.0 42.6 41.4 25.2 28.3 20.8 523 Result 1.9 0.2 0.9 1.3 1.4 0.3 (0.1) 2.7 2.0 0.3 1.5 (3.6) 1.6 3.0 (1.5) 12 18.9 (0.7) 18.2 (20.3) (2.1) 582 24.0 606 23 23 18.9 (0.7) 18.2 (20.3) (2.1) 605 24.0 629 18.9 18.9 (20.3) (1.4) 578 24.5 603 (0.7) (0.7) (0.7) 27 (0.5) 26 16.1 (0.6) 15.5 (15.8) (0.3) 513 18.3 531 22 22 16.1 (0.6) 15.5 (15.8) (0.3) 535 18.3 553 16.1 16.1 (15.8) 0.3 524 18.3 542 (0.6) (0.6) (0.6) 11 11 1 Funding may differ from Centers’ audited financial statements due to system-level adjustments. CGIAR. ANNUAL REPORT. 2009 61 EXHIBIT 4 Center Finances, 2009 ($ million) Expenditure allocation Financing Member funding Reserves Non- Inter-Center members activities Total funding 1 Earned income Addition / (Draw) Center Personnel Supplies & services Collaboration & partnerships Travel Depreciation Total Europe North America Pacific Rim Developing Intl & regnl countries Foundations organizations AfricaRice Bioversity CIAT CIFOR CIMMYT CIP ICARDA ICRISAT IFPRI IITA ILRI IRRI IWMI World Agroforestry WorldFish Subtotal System-level System-level activities Unallocated Member funding Subtotal Less inter-Center activities Subtotal System-level 6.4 20.6 22.6 9.4 17.9 12.7 12.4 23.6 25.3 19.9 19.3 19.6 12.0 14.3 8.8 245 5.6 7.3 8.9 5.5 12.9 10.9 10.9 12.9 10.0 18.0 15.1 13.0 8.0 13.1 3.8 156 5.7 6.3 10.3 5.5 8.1 4.3 4.1 7.7 18.2 8.3 6.2 10.6 2.8 3.7 3.4 105 1.0 1.6 2.9 1.7 2.4 2.4 3.8 3.5 4.1 3.7 3.2 3.8 2.3 3.0 1.7 41 1.0 0.5 2.3 0.6 3.0 1.5 1.3 2.2 0.8 1.4 13.5 3.1 0.6 0.8 0.2 33 19.8 36.3 47.0 22.7 44.3 31.8 32.5 49.9 58.4 51.3 57.3 50.1 25.7 34.9 17.9 580 18.9 4.0 21.4 16.0 14.1 10.3 13.8 10.0 12.9 23.6 13.3 15.2 9.0 16.1 14.1 7.3 201 4.1 4.3 1.9 9.0 1.7 9.1 6.3 3.9 6.9 14.3 19.1 26.7 6.3 2.5 4.0 4.5 120 0.3 6.4 1.0 1.5 1.6 4.5 1.3 2.7 1.5 1.1 0.4 0.3 6.3 1.2 0.5 1.9 32 0.5 1.2 0.8 0.9 0.1 2.4 0.8 2.4 5.4 0.6 0.1 0.4 2.0 0.9 0.4 0.8 19 0.0 (0.7) (0.6) 0.2 0.8 1.0 0.7 0.7 0.3 0.8 0.7 0.3 1.4 0.5 0.2 0.3 8 0.5 2.6 7.3 4.8 2.9 2.8 3.1 6.7 5.3 7.1 4.6 2.9 6.0 3.8 3.9 1.7 65 13.5 1.4 2.6 13.1 1.9 15.9 5.4 5.7 13.7 14.2 7.4 5.0 17.6 2.7 9.4 1.0 117 2.4 0.5 1.9 0.3 3.1 1.3 0.1 1.3 0.9 3.7 2.8 0.4 0.8 0.9 0.1 20 22.3 35.7 48.0 23.6 48.8 32.7 31.8 47.8 62.5 48.9 54.7 48.1 28.2 33.5 17.3 584 18.9 (0.7) 18.3 0.1 0.1 1.2 0.3 1.6 0.6 1.3 4.2 0.6 3.8 3.8 1.8 0.5 3.0 0.4 23 2.6 (0.5) 2.2 1.2 6.1 1.5 0.6 2.1 4.7 1.4 1.2 (0.2) 3.0 1.6 (0.2) 27 (0.7) (0.7) 18.9 (20.3) (1) 4.1 0.3 0.5 0.5 13.5 (20.3) (20.3) (2) (0.7) 4 0 1 (1) 1 13 (20) Total Plus Challenge Program partners Total CGIAR program 245 10.3 255 156 6.6 163 105 4.4 109 41 1.7 43 33 1.5 34 579 24.5 603 205 15.0 220 121 0.4 121 33 19 8 0.2 79 0.4 79 117 8.0 125 0 582 24.0 23 27 (0.5) 33 19 9 0 606 23 26 1 Funding may differ from Centers’ audited financial statements due to system-level adjustments. 62 FROM RESEARCH TO RESULTS EXHIBIT 5 CGIAR System Financial Position ($ thousand) 2005 Assets Current assets Cash and cash equivalents Accounts receivable Members Employees Others Inventories Pre-paid expenses Other current assets Total current assets 346,719 348,024 6,580 943 3,401 3,140 4,063 1,812 435,985 4,593 6,001 5,539 22,280 20,952 26,689 4,105 4,726 3,727 83,907 56,363 65,101 79,766 3,437 27,171 5,833 4,354 2,283 482,895 68,824 3,765 30,729 4,662 4,165 2,437 594,821 221,853 255,899 329,054 360,051 480,239 2006 2007 2008 2009 Noncurrent assets Net property, plant and equipment Investments Other assets Total noncurrent assets 125,734 1,223 46,642 77,869 78,277 41,020 7,076 126,373 76,177 52,819 6,748 135,744 78,507 61,265 2,279 142,051 75,892 80,204 3,704 159,800 Total assets Liabilities and net assets 472,453 474,397 571,729 624,946 754,621 Current liabilities Accounts payable Members Employees Others Accruals and provisions Total current liabilities 119,497 14,514 44,430 24,086 202,527 112,065 19,024 49,254 25,938 206,281 172,599 19,727 63,378 30,563 286,267 196,601 17,890 86,142 32,869 333,502 230,828 19,770 136,122 39,667 426,387 Long-term liabilities Total liabilities Net assets 31,897 42,383 48,016 46,184 51,548 234,424 248,664 334,283 379,686 477,935 Unrestricted Unrestricted net assets excl fixed assets Fixed assets Unrestricted net assets 157,966 77,869 235,835 145,089 78,277 223,365 158,867 76,177 235,044 164,599 78,507 243,106 198,752 75,892 274,644 Restricted Total net assets 2,194 238,029 2,368 225,733 2,402 237,446 2,154 245,260 2,042 276,686 CGIAR. ANNUAL REPORT. 2009 63 Total liabilities and net assets 472,453 474,397 571,729 624,946 754,621 EXHIBIT 6 Summary of Challenge Programs, 2009 ($ million) Funds Available Bill & Melinda Gates Foundation European Commission France Italy IFAD Sweden Switzerland Syngenta Foundation United Kingdom USA Zinc Project Consortium World Bank Earned Income Total HarvestPlus 12.8 Water & Food 3.4 0.7 0.3 0.1 1.2 4.8 Generation 5.4 10.2 SSA 2.2 0.7 CCAFS Total 18.2 15.8 0.7 0.7 0.3 0.3 1.6 1.0 12.7 0.04 0.3 6.3 0.3 58.2 0.1 1.0 3.2 0.04 0.3 2.0 0.2 19.6 0.1 0.4 0.04 4.7 2.0 12.5 2.0 0.1 22.9 2.9 0.3 0.3 Expenditure AfricaRice Bioversity CIAT CIMMYT CIP ICARDA ICRISAT IFPRI IITA ILRI IRRI IWMI WorldFish HarvestPlus Center Others Water & Food Center Others Generation Center Others Center SSA Others CCAFS Center Others Center Total Others 0.02 2.0 1.0 0.4 0.03 0.6 4.8 0.7 0.6 0.4 0.2 0.4 0.7 0.5 0.2 5.1 1.4 8.6 18.8 0.8 23.8 24.6 2.3 8.9 1.3 10.2 2.3 0.3 0.3 1.1 1.1 0.7 0.3 2.0 0.1 0.3 1.4 0.5 1.4 0.5 0.3 0.8 4.9 2.8 1.1 0.7 2.6 5.6 1.1 0.5 2.2 5.1 1.4 4.3 6.8 (3.9) 7.5 3.6 (0.5) 0.8 0.8 (0.5) 29.2 24.5 53.7 4.5 37.9 42.4 0.1 Subtotal Total 2009 balance 2008 cumulative balance 2009 cumulative balance 10.2 7.6 9.5 17.1 5.8 6.6 12.4 2.5 64 FROM RESEARCH TO RESULTS