TREASURERS' REPORT

I am pleased to report that we’ve generated P11, 947,496.00 in revenues during the fiscal year of 2000.  This is a gain of 6% even as our gate receipts suffered a decrease of 30%.  The increase in revenues is attributed to the grants, membership fees, eagle adoption programs, and an unexpected gain in foreign exchange transactions.

As the extent and scope of our operations continued to grow, so did our operating expenses.   Our greatest resources are our people and an increase of 14% in expenses is due to the cost of additional personnel for new field projects and some salary adjustments given to our staff.  Investments in training community partners, educating our staff and the public also contributed to the higher expenses in 2000.

It is clear that the PEFI continues to depend heavily on grants from our generous donors.  The Board is actively working to establish a broader base of support for the foundation.

We therefore wish to take this opportunity to express our heartfelt thanks to our dedicated staff and to all our generous donors, the individuals and organizations whose support enables the Philippine Eagle Foundation to maintain our track record in excellence in direct conservation work.

Yours is an investment in our common future and we thank you because your unwavering support and commitment allows us to successfully carry on this mission.



                              CARLOS G. DOMINGUEZ
                                        Treasurer