Financial Reports 2009

The economic and financial crisis in the country, the financial difficulties of the corporate sector and reduced revenue in the state budget have affected directly and indirectly the financial situation of the organization in 2009.
Their direct effects led to reduction of income generated by economic activities. The indirect effects of the crisis caused reduction of income from donations, due to the financial difficulties experienced by institutions, corporate sector, the entire society and every citizen.
The difficulties mobilized us to organize our work in a way that allows us to maintain the financial stability, to continue the activities in a volume, which corresponds to the needs of society, vulnerable groups and implementation of strategic priorities of the Bulgarian Red Cross. The financial resources are focused primarily for the implementation of priority tasks in accordance with the strategic plan of the Bulgarian Red Cross.
The sources of funding of activities in 2009 were: own income, projects, subsidy from the State budget for partial funding of activities, which we undertake in support to the State, donations, income generated by fundraising campaigns, membership fees and others.
Despite the negative impact of the economic crisis, the economic activities, carried out by the organization in 2009, remained a backbone of the income which allowed the BRC to secure resources in support to its activities. Funding priority was given to activities related to provision of assistance to vulnerable citizens, for strengthening the level of disaster preparedness, for development of the organizational structures and other important activities.
In 2009, the National Training and Logistics Centre in Lozen continued its development and strengthened its position as the largest warehouse facility of the organization and a place for training activities, public events and competitions organized by the BRC, partners and other organizations. The facilities were improved and the logistic capacity of the Centre increased. A process of repair and renovation of the facade of the Central Warehouse was initiated.
During the reporting period, the application of internal control within the organization continued, being an important and beneficial activity, ensuring effective management. The BRC operates in accordance with established regulations and internal rules, the control environment is constantly being improved, the management mechanisms work efficiently, and the level of financial discipline is good. Where omissions are found, prompt and adequate measures are taken in order to correct them.

You could see the results of the financial and economic activity of BRC for 2009 in the attached files: