The financial administrative and economic activity of the Bulgarian Red Cross was directed towards increasing its financial stability and devising effective mechanisms to generate and spend financial means to ensure the basic humanitarian activities of the organization and the fulfillment of its mission. The efforts of the Bulgarian Red Cross society were focused on finding new and diverse financing sources – using modern approaches to build a partnership and draw up resources on a local level; the preparation and the accomplishment of joint projects with foreign partners, broadening the range of offered services and improving their quality; establishing partnership with the corporate sector; effective administration and feasible management, of the means and transparent accountability. Apart from its engagements related to ensuring resources and logistics for the traditional Red Cross activities, in the aftermath of the summer floods in 2005, the Bulgarian Red Cross created an effective system for fund gathering and viable distribution of the additional financial and material resources to support the victims of the floods.
More than ever the Bulgarian Red Cross now has learned to rely on the incomes from its economic activity to secure its numerous humanitarian activities. Using its whole available potential the organization contributed to the implementation of the projects. Special attention was paid to instigating the activities at the educational bases and centers of the Bulgarian Red Cross to involve more outside clients and initiatives. Very successful in this respect was the National training center of the Bulgarian Red Cross at the village of Lozen, where the incomes were doubled in comparison to those in 2004.
In 2005 the accountability of the activities of the Bulgarian Red Cross underwent some changes, related to the adoption of the International Book-Keeping Standards and the International Financial Accounting standards. The accountancy policy of the organization has also changed, including the new rules and conditions for current accountancy including the adoption of new rules and conditions and the preparation of the annual financial account.
You could see the results of the financial and economic activity of BRC for 2005 in the attached files: