5. Reality check in Israel 75% of all donations to the Jewish Agency in U.S. dollars 55% of all expenditures in shekels 23% Devaluation of U.S. Dollar to Shekel Dec 06 – Aug 08
6. Reality check in Israel Total dollar budget of programs unchanged; Shekel budget to implement has decreased dramatically .
7. Net result 2008: Financial challenge totaling over $20 million 2009: Extreme measure of slashing $45 million from 2009 budget
8. Reductions in 2009 Budget REDUCTION Structural changes & overhead reductions $10.0 million Additional cuts and adjustments needed $13.0 million Program reductions $22.0 million TOTAL 2009 Budget Cuts $45 million
10. Reductions in 2009 Program Budget Program area REDUCTION STRENGTHENING ISRAEL through Immigration and Absorption $10.3 million PARTNERING WITH ISRAELIS to effect transformative change $2.8 million CONNECTING NEXT GENERATION with Israel and peoplehood $6.4 million Allocations to social programs and activities $2.5 million TOTAL Program Cuts $22.0 million
At the Jewish Agency we are sensitive to the difficulties you and indeed the entire federation system are facing in both reduced campaigns and increased local needs as the global economic downturn intensifies. We are your partners in facing this storm as we carefully weigh every dollar spent to ensure maximum benefit to the people supported by campaign dollars. But now, as always, our beneficiaries are our most important priority . We’re here today to be their voice.