Financial Charts

_______________________________________________________________________________________________________________________

The European Capital of Culture Agency established pursuant to Law No. 5706 for the purpose of preparation of Istanbul for the 2010 European Cultural Capital process was presumed to have an income TL 240,273,000 for 2008 of which a part of TL 78,487,387 was realized. TL 75,000,000 of this amount was the income contributed by the Ministry of Finance, TL 660,000 by the Special Provincial Administration, TL 350.000 by the Istanbul Metropolitan Municipality, and TL 500.000 by the Istanbul Chamber of Commerce; whereas the remaining TL 634,344 is sponsorship revenue and TL 1,343,043 is the interest income. Out of the total revenue, a sum of TL 10,755,410 was spent on the projects, TL 11,995,699 was transferred to the Ministry of Culture, TL 10,317,602 was spent on promotional activities, TL 7,305,522 was on administrative expenses and TL 4,526,569 was paid for Value Added Tax accrued from Project implementation and administrative expenses.

As the income for the year 2009 has been presumed to amount TL 805,156,000 of which the sum of TL 260,230,546 was collected. Out of this amount, the sum of TL 3,262,050 is o the EU Commission Project Allocation Income whereas TL 250,000,000 of the income is contributed by the Ministry of Finance, TL 633,840 by the Istanbul Special Provincial Administration, TL 500,000 by Istanbul Chamber of Commerce, TL 50.000 by Istanbul Chamber of Industry, TL 745.855 as sponsor revenues, and the part TL 5,038,800 is the interest income. Out of this total revenue, TL 27,201,383 has been spent on Project implementation expenses, TL 21,171,325 on UNESCO transfers to the Ministry of Culture, TL 10,668,553 on security and cleaning services at the Topkapi Palace Museum, TL 16,450,618 on promotion expenses, TL 13,595,301 on administrative expenses, and TL 7,842,869 on VAT accrued from project implementation and management expenses.

Presumed income for 2010 is TL 303,200,000 of which the sum of TL 5,529,944 has been collected as of June 30th, 2010. Out of this amount, TL 37,760 comes from the Istanbul Special Provincial Administration whereas the remaining TL 5,492,184 is of interest and other income. TL 40,894,613 of the total acquired income has been spent on Project implementation expenses, TL 5,708,211 on security and cleaning services at the Topkapi Palace Museum, TL 2,000,000 for transfers to the Ministry of Culture (UNESCO), TL 4,321,016 on administrative expenses, TL 26,185,681 on promotion expenses, and TL 8,129,060 on VAT accrued from project implementation and management expenses.