Financial Report

About company Documents Annual report 2008

2. Annual Financial (Accounting) Report of the State Corporation Russian Corporation of Nanotechnologies for the Year 2008

Indices of the composition of property, capital, and obligations of the corporation during 2008 (in thousands of rubles)

   At the beginning of  2008
 At the end of 2008
Changes
 ASSETS      
 Non-current assets, total:  992  305,150  304,158
 Including, long-term financial investments
  640
640
 Current assets, total: 129,983,721
135,941,390
5,957,669
 Including:      
Short-term financial investments -
130,000,142
130,000,142
Cash and cash equivalents 129,954,668
4,423,836
-125,530,832
Balance 129,984,713
136,246,540
6,261,827
LIABILITIES
     
Capital and reserves 129,979,607
135,405,844
5,426,237
Long-term liabilities
 -
-
 
Short-term liabilities 5,106
840,696
835,590
Balance 129,984,713
136,246,540
6,261,827


The source of financing for the activities of the corporation during 2008 was the material contribution by the Russian Federation in the amount of 130 billion rubles, which was received in November 2007. Accounting for expenditures for current activities during 2007 in the amount of 16.3 million rubles, as of January 1, 2008, the corporation held monetary resources of 129.983,7 billion rubles.

In 2008 the capital of the corporation grew by 5.426 billion rubles to 135.406 billion rubles as a result of earnings from placing temporarily free monetary resources in accounts at commercial banks, which was done in accordance with recommendations from the Ministry of Finance of the Russian Federation.

Short-term obligations of the corporation outstanding at the beginning of 2008 were in the amount of 5.11 million rubles, at the end of 2008—840.70 million rubles and consisted of obligations of the corporation to pay taxes for 2008. Key figures of RUSNANO financial activity during 2008 are presented in table above. They were prepared in accordance with Russian accounting standards.

Net income of the corporation in 2008 was derived, largely, from interest earnings on monetary resources placed on deposit in commercial banks. Net income was 6.467 million rubles.

In 2008 monetary resources of the corporation held in trust did not rise.

Financial results of the activities of state corporation Russian corporation of Nanotechnologies have been confirmed by conclusion of the corporation’s auditors, RSM Top-Audit.

As a result of deliberation and resolution by the Executive Board of the corporation, temporarily free monetary resources of the state corporation RUSNANO in the amount of 130 billion rubles have been placed in ruble-denominated deposits to the end of 2009. The average yield on resources placed on deposit is 10.21% annually.

Expenditures of the corporation during 2008 totaled 3.185,4 billion rubles, which was lower than the sum planned.

Within the framework of the primary activities of the corporation —financial investment in projects, infrastructure, and educational programs—a total of 1.415,3 billion rubles was apportioned. Tax payments of the corporation for 2008 totaled 1.297,2 billion rubles, which included tax on profits of 1.292,8 billion rubles.

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