Summary : The overall 2002 result confirms that the CGIAR was successful in achieving its financial targets. Total expenditures for the 16 Centers were $369 million, virtually on target. Resource targets were also met: Member funding for Center programs totaled $346 million, and Center income was $13 million, resulting in a deficit of approximately $10 million. Net assets for the System declined by $14 million to $175 million in 2002, the result of the $10 million deficit and $4 million in asset write-downs. Overall, however, the CGIAR’s financial position remained strong at the end of the year as such liquidity indicators as cash, working capital and current ratio remained healthy.