irri ar 2011 - audited financial statements

IRRI AnnuAl RepoRt 2011 2012 All rights reservedC

IRRI AnnuAl RepoRt 2011

INTERNATIONAL RICE RESEARCH INSTITUTE(A Nonstock, Not-for-Profit Organization)

FINANCIAL STATEMENTS AND SUPPLEMENTARY INFORMATIONDecember 31, 2011 and 2010

Audited FinAnciAl StAtementS 2011



TABLE OF CONTENTS Page/s

Report of Independent Auditors

Statements of Financial Position

Statements of Activities

Statements of Changes in Net Assets

Statements of Cash Flows

Notes to the Financial Statements 1 - 15

Schedules of Grants Revenues and

Accounts Receivable/ (Payable) – Donors (Exhibit 1) 16 - 18

Schedules of Bilateral Restricted Funding (Exhibit 2) 19 - 26

Details of Operating Expenses (Exhibit 3) 27

Indirect Cost Calculation (Exhibit 4) 28

Statements of Expenditures of the following:

European Community Funding (Exhibit 5) 29

German Unrestricted Contribution (Exhibit 6) 30

CGIAR Research Program Supplementary Schedules (Exhibit 7) 31 - 36



Manabat Sanagustin & Co., CPAs, a Philippine partnership and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity.

PRC-BOA Registration No. 0003, Group A, valid until December 31, 2013 SEC Accreditation No. 0004-FR-3, Group A, valid until November 22, 2014 IC Accreditation No. F-0040-R, Group A, valid until September 11, 2014 BSP Accredited, Group A, valid until December 17, 2014

kpmg Manabat Sanagustin & Co., CPAs Telephone +63 (2) 885 7000 The KPMG Center, 9/F Fax +63 (2) 894 1985 6787 Ayala Avenue Internet www.kpmg.com.ph Makati City 1226, Metro Manila, Philippines E-Mail [email protected] Branches: Bacolod · Cebu · Iloilo · Subic

REPORT OF INDEPENDENT AUDITORS

The Board of TrusteesInternational Rice Research Institute

Report on the Financial Statements

We have audited the accompanying financial statements of International Rice Research Institute(a nonstock, not-for-profit organization), which comprise the statements of financial position as atDecember 31, 2011 and 2010, and the statements of activities, statements of changes in net assets and statements of cash flows for the years then ended, and notes, comprising a summary of significant accounting policies and other explanatory information.

Management’s Responsibility for the Financial Statements

Management is responsible for the preparation and fair presentation of these financial statements inaccordance with the Accounting Policies and Reporting Practices Manual - Financial Guidelines Series No. 2 prescribed for international agricultural research centers under the auspices of Consultative Group on International Agricultural Research (CGIAR), and for such internal control as management determines is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

Auditors’ Responsibility

Our responsibility is to express an opinion on these financial statements based on our audits.We conducted our audits in accordance with International Standards on Auditing. Those standards require that we comply with ethical requirements and plan and perform the audit to obtain reasonable assurance about whether the financial statements are free from material misstatement.

An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements. The procedures selected depend on the auditors’ judgment, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error. In making those risk assessments, the auditors consider internal control relevant to the entity’s preparation and fair presentation of the financial statements in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the entity’s internal control. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of accounting estimates made by management, as well as evaluating the overall presentation of the financial statements.

We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion.




STATEMENTS OF FINANCIAL POSITION(All Amounts in Thousand US Dollars)

December 31

Note 2011 2010

ASSETSCurrent AssetsCash and cash equivalents 3 42,851 29,003Short-term investments 4 190 6,187Accounts receivable

Donors ( net of allowance of 100 in 2011 and nil in 2010) 5 8,163 7,742

Employees 6 202 402Others (net of allowance of 536 in 2011 and

290 in 2010) 7 2,455 1,340Inventories (net of allowance of 368 in 2011

and 276 in 2010) 8 450 393Prepaid expenses 115 102

Total Current Assets 54,426 45,169

Noncurrent AssetsProperty and equipment - net 9 11,528 11,801Long-term investments 4 27,767 30,154

Total Noncurrent Assets 39,295 41,955

93,721 87,124

LIABILITIES AND NET ASSETSCurrent LiabilitiesAccounts payable

Donors 10 31,880 38,132Others 11 11,635 3,402

Accruals and provisions 12 8,378 7,094

Total Current Liabilities 51,893 48,628Net Assets

Designated 14 41,828 38,49693,721 87,124

See Notes to the Financial Statements.




STATEMENTS OF ACTIVITIES(All Amounts in Thousand US Dollars)

Years Ended December 31

2011

Note

BilateralUnrestricted/

Window 3Window

1 & 2Bilateral

RestrictedChallenge Programs Total 2010

REVENUESGrants (Exhibit 1) 2,876 35,653 47,032 2,469 88,030 56,828Others 4, 16 1,789 - - - 1,789 1,602

4,665 35,653 47,032 2,469 89,819 58,430

OPERATING EXPENSESProgram-related (Exhibit 3) 454 35,653 47,032 2,469 85,608 55,427Management and general

(Exhibit 3) 8 7,188 - - - 7,188 6,140

7,642 35,653 47,032 2,469 92,796 61,567Recovery of indirect costs

(Exhibits 3 and 4) (6,526) - - - (6,526) (4,254)1,116 35,653 47,032 2,469 86,270 57,313

NET SURPLUS FROM ORDINARY ACTIVITIES 3,549 - - - 3,549 1,117

Unrealized foreign exchange translation gain 59 - - - 59 119

NET SURPLUS FOR THE YEAR 3,608 - - - 3,608 1,236

EXPENSES BY NATURAL CLASSIFICATION 3

Personnel costs 13 5,004 8,912 11,892 713 26,521 22,076CRP Collaborator/Partnership

costs - CGIAR Centers - 12,316 - - 12,316 -Collaborator/Partnership costs -

Others - 189 16,277 526 16,992 13,572Supplies and services 8, 15 1,224 10,746 14,617 1,099 27,686 18,736Operational travel 438 724 2,665 123 3,950 3,691Depreciation 9 976 2,766 1,581 8 5,331 3,492Indirect cost (6,526) - - - (6,526) (4,254)

1,116 35,653 47,032 2,469 86,270 57,313




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STATEMENTS OF CASH FLOWS(All Amounts in Thousand US Dollars)


Note 2011 2010

CASH FLOWS FROM OPERATING ACTIVITIES

Net surplus for the year 3,608 1,236Adjustments for:

Depreciation of property and equipment 9 5,331 3,492Provision for doubtful accounts 5, 7 346 290Provision for inventory obsolescence 8 92 172Loss on disposal of property and equipment 9 113 67Fair value gains on investments 4 (737) (1,141)Gain on disposal of investments - (196)Interest income 4 (359) (202)Unrealized foreign exchange gain (59) (119)

Net surplus before working capital changes 8,335 3,599Decrease (increase) in:

Short-term investments 6,028 3,471Accounts receivable (1,623) (2,140)Inventories (149) 9Prepaid expenses (13) 80

Increase (decrease) in:Accounts payable 1,981 4,035Accruals and provisions 1,284 (289)

Cash generated from operations 15,843 8,765Interest received 359 202Net cash provided by operating activities 16,202 8,967

CASH FLOWS FROM INVESTING ACTIVITIES

Decrease (increase) in long-term investments 3,093 (4,805)Acquisition of property and equipment 9 (5,447) (4,588)Net cash used in investing activities (2,354) (9,393)

NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS 13,848 (426)

CASH AND CASH EQUIVALENTS ATBEGINNING OF YEAR 29,003 29,429

CASH AND CASH EQUIVALENTS AT END OF YEAR 42,851 29,003





NOTES TO THE FINANCIAL STATEMENTS(All Amounts in Thousand US Dollars)

1. Reporting Entity

International Rice Research Institute (the “Institute”) was established in 1960 to undertake basic research on the rice plant and applied research on all phases of rice production, management, distribution and utilization with the objective of attaining nutritive and economic advantage and benefit for the people of Asia and other major rice- growing areas.

The Institute was first conferred the status of an international organization in the Philippines under Presidential Decree (PD) No. 1620. On May 19, 1995, a multi-lateral agreement (1995 Agreement) recognizing the status of the Institute as an international organization was signed by representatives of 19 countries, including the Philippines. The 1995 Agreement allows the Institute to have a juridical status to more effectively pursue its international collaborative activities in rice research and training. Pursuant to the 1995 Agreement, the Institute and the Government of the Republic of the Philippines entered into a Headquarters (HQ) Agreement. The HQ Agreement was ratified by the Philippine President on May 23, 2006, concurred by the Philippine Senate on April 28, 2008, and came into force on May 14, 2008.

The Institute enjoys, among other privileges and prerogatives, the following tax exemptions:

a. Exemption from the payment of gift, franchise, specific, percentage, real property,exchange, import, export, and all other taxes provided under existing laws or ordinances. This exemption shall extend to goods imported and owned by the Institute to be leased or used by members of its staff.

b. All gifts, bequests, donations and contributions which may be received by the Institute from any source whatsoever, or which may be granted by the Institute to any individual or non-profit organization for educational or scientific purposes, shall be exempt from the payment of the taxes imposed under Title III of the National Internal Revenue Code(Tax Reform Act of 1997). All gifts, contributions and donations to the Institute shall be considered allowable deductions for purposes of determining the income tax of the donor.

c. Non-Filipino citizens serving on the senior professional and administrative staff of the Institute shall be exempt from the payment of income tax on salaries and stipends in U.S dollars received solely and by reason of service rendered to the Institute.

d. The Institute shall be exempt from the payment of all customs duties and related levies or any kind, except charges for storage, transport and services supplied, and from prohibitions and restrictions on the import or export of articles intended for its official use.



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The Institute receives support from various donor agencies and entities primarily through the Consultative Group on International Agricultural Research (CGIAR). CGIAR is a group ofdonors composed of governments of various nations and international organizations and foundations.

CGIAR Window 1 and 2In 2011, the CGIAR introduced a new programmatic based approach in doing business. The Donors to the CGIAR, represented by the Fund Council, approved the creation of fifteen CGIAR Research Programs (CRPs), each to be led by a designated Center which would be responsible, through a Program Implementation Agreement (PIA), for overseeing the implementation of the CRP by program participants and for all payments of CRP expenses and reporting from program participants. Program participants include other Centers who are subcontracted by the Lead Center via a Program Participant Agreement (PPA) or other suitable contracting arrangement.

Fund donors may designate their contribution to one or more of the three funding “Window”. For Window 1 funds, the Fund Council sets the overall priorities and makes specific decisions about the use of the fund such as allocation to CRPs, payment of System Costs and any other use required to achieve the CGIAR mission. Window 2 funds are contributions designated by Fund Donors to one or more specific CRPs. Window 3 funds are contributions designated by the Fund Donors to individual centers.

The Institute is the Lead Center of CRP3.3 Global Rice Science Partnership (GRiSP) that started in January 2011 for a period of five years, with a total budget of US$594,370. As a Lead Center, the Institute entered into an agreement with the Consortium Board for the overall performance of the CRP. The Institute will receive the grants from Window 1and 2 for further allocation to the participating centers; i.e., Africa Rice Center (AfricaRice) and the International Center for Agriculture in the Tropics (CIAT). The Institute would be responsible, through a PIA, in overseeing the implementation of the CRP. The Institute is also required to submit regular financial reports and cash flow statements to the Consortium Office.

The Institute received total grant of US$32,744 and allocated US$9,867 to the other participating centers. As of December 31, 2011, accounts receivables from CGIAR Window 1 and 2 amounts to US$2,909 (see Note 5).

The Institute’s major facilities are located in Los Baños, Laguna, Philippines. In addition, the Institute owns an administrative office in Makati City, Philippines.

The accompanying financial statements and supplementary schedules and statements of the Institute were approved and authorized for issue by the Board of Trustees onApril 12, 2012.

2. Summary of Significant Accounting Policies

The principal accounting policies applied in the preparation of these financial statements are set out below. These accounting policies have been applied consistently to all periods presented.



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Basis of Financial Statements PreparationThe financial statements are prepared on the basis of accounting practices prescribed for international agricultural research centers referred to as the “Accounting Policies and Reporting Practices Manual - Financial Guidelines No. 2” (APRPM) under the auspices of the CGIAR. These accounting policies are applied consistently in dealing with items that are considered material in relation to the financial statements.

The preparation of financial statements in conformity with CGIAR’s APRPM requires management to make judgments, estimates and assumptions that affect the application of policies and reported amounts of assets, liabilities, income and expenses. The estimates and associated assumptions are based on historical experience and various other factors that are believed to be reasonable under the circumstances, the results of which form the basis of making the judgments about carrying values of assets and liabilities that are not readily apparent from other sources. Actual results may differ from these estimates.

Future events may occur which can cause the assumptions used in arriving at the estimates to change. The effects of any change in estimates are reflected in the financial statements as they become reasonably determinable.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognized in the period in which the estimate is revised if the revision affects only that period or in the period of the revision and future periods if the revision affects both current and future periods.

The following are the critical judgments and key estimates in relation to the preparation of these financial statements:

JudgmentOperating LeaseThe Institute has various lease agreements related to lease of property and equipment. The Institute has determined that it does not retain all the significant risks and rewards of ownership of the property and equipment, which are leased out in an operating lease agreement.

EstimatesImpairment of AssetsThe Institute assesses impairment of assets whenever events or changes in circumstances indicate the carrying amount of assets may not be recoverable. If such indication exists, the recoverable amount of the assets is estimated in order to determine the extent of impairment.

Estimating Useful Lives of Property and EquipmentThe Institute estimates useful lives of property and equipment based on the period over which the assets are expected to be available for use. These are updated if expectations differ from previous estimates due to physical wear and tear and technical and commercial obsolescence. The useful life and depreciation method are reviewed periodically to ensure that it is consistent with the expected pattern of economic benefits from items of property and equipment.

Basis of MeasurementThe financial statements have been prepared on the historical cost basis except for certain investments stated at fair value.



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Functional and Presentation CurrencyThe accompanying financial statements of the Institute are presented in U.S Dollars, which is the Institute’s functional currency. All financial information has been rounded off to the nearest thousands, unless otherwise indicated.

Revenue RecognitionGrants are recognized as revenue upon the substantial fulfillment of the conditions attached to them, regardless of the period when it is intended to be used, or when the donor has explicitly waived the conditions. Grants are classified according to the type of restrictions attached to them.

Unrestricted GrantsUnrestricted grants are grants received which the Institute may freely use for its mandated activities. Unrestricted grants are recognized in full in the period specified by the donorwherein sufficient verifiable evidence exists that a commitment was made by the donor.

Restricted GrantsRestricted grants are grants received in support of specified projects or activities mutually agreed upon by the Institute and donors. Revenue is recognized to the extent of expenses actually incurred. Excess of grants received over expenses, representing grants applicable to succeeding years, are shown under “Accounts payable - donors” account in the statements of financial position. Claims from donors for project expenses paid for by the Institute in advance are shown under “Accounts receivable - donors” account in the statements of financial position.

Grants in kind are measured at the fair value of the assets (or services) received or promised while cash grants are measured at the face amount of the cash received or the US Dollar equivalent.

As a Lead Center for GRiSP CGIAR Research Programs, the Institute recognized the full amount of the grants received from the Consortium including the amount passed on to other participating Centers and spent by them.

Disbursements to another center by the Lead Center are recorded as an “Account Receivable” until an expenditure report is received from the other center, and the expenditure amount can then be liquidated from the advance (see Note 1).

Expense RecognitionExpenses are decreases in economic benefits during the accounting period in the form of outflows or depletion of assets or incurrence of liabilities that result in decreases in net assets. Expenses are recognized on the basis of a direct association between the costs incurred and the earning of specific items of revenue.

The Institute presents on the face of the statements of activities an analysis of expenses using a classification based on the function and nature of expenses within the Institute.

Program-related expenses are expenses incurred for the activities that result in goods and services being distributed to beneficiaries, project proponents, and members that fulfill the purpose or mission for which the Institute exists.

Management and general expenses are all expenses incurred for the activities of the Instituteother than program-related activities.



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Collaborators/Partnership costs arises from the collaborative researches undertaken by the Institute and payments for direct research inputs made to collaborators and partners.

Cash and Cash EquivalentsCash includes cash on hand and in banks. Cash equivalents are short-term, highly liquid investments that are both: (a) readily convertible to known amounts of cash, and; (b) so near their maturity date that they present insignificant risk of changes in value. These investments, as distinguished from short-term investments, are those that are acquired with original maturities of three months or less.

InvestmentsInvestments are initially recorded at their acquisition cost if they are purchased and at their fair market value if they are received as grants. Investments in equity securities and debt securities are re-measured at their market values as of the reporting date. The gain or loss on disposal of current investments and changes in value of such investments are included in the statements of activities under “Other revenues” account.

Short-term investments consist of investments that are: (a) acquired with original maturity of more than three months but not exceeding one year, and (b) those that are originally long-term in nature but are currently due to mature within one year from the reporting date.

Long-term investments are investments that are acquired with the intention of keeping the same for more than a year from the acquisition date and which are not maturing within one year as of the reporting date.

Accounts ReceivableAccounts receivable from donors, employees and other entities are carried at net realizable value calculated as the gross amount less any allowance provided for doubtful accounts.Allowance for doubtful accounts is based on past experience and on a continuous review of receivable aging reports and other relevant factors. When an accounts receivable is deemed doubtful of collection, the Institute provides an allowance for doubtful accounts during the year in which it is deemed doubtful.

Any receivable or a portion thereof adjudged to be uncollectible is written-off. The write-off is done after all efforts to collect have been exhausted.

Receivables from employees are recognized as they arise and cancelled when payment is received.

Advances to other centers are recognized when the cash or other assets borrowed is delivered or when payment is made for a liability of another center.

InventoriesInventories which consist of spare parts and supplies and other inventories are recognized at cost. Cost, which includes the purchase price plus cost of freight and handling charges, is determined using the moving average method.

Inventories held as of reporting date are stated at the lower of cost or net realizable value.Net realizable value (NRV) is the estimated selling price in the ordinary course of business less the estimated costs necessary to make the sale. The excess of cost over net realizable value is presented as a contra-asset account.



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Property and EquipmentProperty and equipment acquired prior to 1991 are carried at cost or estimated value; acquisitions starting 1991 are stated at cost. Capital expenditures with a minimum cost of US$0.5 or its equivalent and with an estimated life beyond one year are capitalized. Property and equipment which qualifies for recognition as an asset is initially measured at cost. The cost of an item of property and equipment comprises its purchase price and all other incidental cost in bringing the assets to its working condition for its intended use. Subsequent to initial recognition, an item of property and equipment is carried at cost less any accumulated depreciation and impairment in value.

Depreciation of all assets which are owned by the Institute is computed using the straight-line method over the estimated useful lives of the related assets as follows:

Category description Estimated life in yearsPhysical facilities: Building and improvements 60Infrastructure and leasehold improvements 25 or term of lease

whichever is shorterFurnishing and equipment

Farming Farm machinery and equipment 7 - 10Shop machinery and equipment 7 - 10

Laboratory 5 - 10Office 5 - 10Auxiliary units 5 - 10Vehicles 4 - 7Computers 3 - 5

Depreciation is charged from the month an asset was placed in operation and is continued until the asset has been fully depreciated or its use is discontinued.

Property and equipment acquired through the use of grants restricted for a specific project are recorded as assets. Such assets are depreciated at a rate of 100% in the year of purchase. The depreciation expense is charged directly to the appropriate restricted project.

An item of property and equipment is eliminated from the statements of financial position on disposal or when the asset is permanently withdrawn from use and no further economic benefits are expected from its disposal.

Gains or losses arising from the retirement or disposal is determined as the difference between the net disposal proceeds and the carrying amount of the asset and is recognized as revenue or expense in the statements of activities.

Accounts PayableAccounts payable represent amounts due to donors, employees, and others for support, services and/or materials received prior to year-end, but not paid for as at reporting date.

AccrualsAccruals represent liabilities to pay for goods or services that have been received or supplied but have not been paid or invoiced.



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ProvisionsProvisions are recognized when the Institute has: (a) a present obligation as a result of a past event, (b) it is probable that an outflow of resources will be required to settle the obligation, and (c) a reliable estimate of the amount can be made. Provisions are measured at the present value of management’s best estimate of the expenditure required to settle the present obligation at the reporting date.

When there are a number of similar obligations, the likelihood that an outflow will be required in the settlement is determined by considering the class of obligations taken as a whole. A provision is recognized even if the likelihood of an outflow with respect to any one item included in the same class of obligations may be small.

Net AssetsNet assets is the residual interest in the Institute’s assets after liabilities are deducted. The overall change in net assets represents the total gains and losses generated by the Institute’s activities during the period as determined by the particular measurement principles adopted and disclosed in the financial statements.

Net assets are classified as either undesignated or designated. Undesignated net assets is thatpart of net assets that is not designated by Institute’s management for specific purposes. Designated net assets is that part of net assets that is designated by Institute’s management for specific purposes, such as a reserve for the future acquisition of property and equipment.As of December 31, 2011 and 2010, there are no undesignated net assets.

LeasesA lease is an agreement whereby the lessor conveys to the lessee, in return for a payment or a series of payments, the right to use an asset for an agreed period of time.

Leases which do not transfer to the Institute substantially all the risks and rewards of ownership of the asset are classified as operating leases. Payments made under operating leases are charged to operations on a straight-line basis over the period of the lease.

Foreign Currency Transactions and TranslationsForeign currency-denominated transactions are translated to US dollars for reporting purposes at preceding month-end booking rates which approximate the exchange rates prevailing at the date of the transactions. Exchange differences arising from: (a) the settlement of foreign currency-denominated monetary items at rates which are different from which they were originally booked, and (b) the translation of balances of foreign currency-denominated monetary items as of reporting date are credited or charged to operations during the year.

Employee BenefitsEmployee benefits are all forms of consideration given by the Institute in exchange for service rendered by all employees - whether internationally recruited staff (IRS) or nationally recruited staff (NRS).



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A defined contribution plan is a post-employment benefit plan under which the Institute pays fixed contributions into an account maintained by a trustee and will have no legal or constructive obligation to pay further amounts, subject to the minimum requirement of the law. Obligations for contributions to defined contribution pension plans are recognized as“personnel costs” under the statements of activities in the periods during which services are rendered by employees.

Recovery of Indirect CostsThe pooling of direct and indirect costs is based on the principle of attribution and assignability. Expenditures are pooled to different resource user units (cost centers) by direct identification. Expenditures that are common to the different cost centers are allocated on the basis of resource drivers. Non-operating and non-recurring expenditures are excluded in the computation.

Direct and indirect costs exclude capital expenditures but include depreciation in the case of unrestricted funded activities. For restricted grants, the indirect cost rates may include capital expenditures depending on the terms and conditions of the relevant agreements.

The method of calculating the indirect cost recovery is prescribed in the CGIAR Financial Guidelines Series No. 5 (“CGIAR Cost Allocation Guidelines”).

Events After the Reporting DatePost year-end events that provide additional information about the Institute’s financial position at the reporting date (adjusting events) are reflected in the financial statements when material. Post year-end events that are not adjusting events are disclosed in the notes to the financial statements when material.

3. Cash and Cash Equivalents

2011 2010Cash on hand $3,577 $1,263Cash in banks 5,583 6,788Cash equivalents 33,691 20,952

$42,851 $29,003

Cash in banks earn interest at bank deposit rates ranging from 0.02% to 0.25% and 0.02% to 0.63% in 2011 and 2010, respectively. Cash equivalents are short-term time deposits whichare made for varying periods of up to three months depending on the immediate cash requirements of the Institute, and earn interest at the prevailing short-term rates ranging from 0.02% to 4.5% in 2011 and 2010.



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4. Investments

2011 2010Short-term investments

With original maturities of more than three months but less than one year $190 $2,187

Long term investments due to mature within one year - 4,000190 6,187

Long-term investments 27,767 30,154$27,957 $36,341

Long-term investments outstanding as of December 31, 2011 and 2010 have terms ranging from more than one year to seven (7) years.

The average annual interest rate on the above investments is 2% in both years. The interest income from the investments, included as part of the “Other revenues” in the statements of activities, amounted to US$359 and US$202 in 2011 and 2010, respectively. Gain on investments amounted to US$737 and US$1,337 in 2011 and 2010, respectively (see Note 16).

5. Accounts Receivable - Donors

Receivables from donors arise from: (a) unrestricted grants which are due and recognized as receivable by the Institute upon receipt of confirmed commitments from donors; and (b) restricted grants or challenge programs expenses which are not yet reimbursed by the donors (see Exhibit 1).

2011 2010CGIAR Window 1 and 2 $2,909 $ -Unrestricted 235 6,516Bilateral Restricted

Temporary 5,119 1,138Challenge programs - 88

8,263 7,742Allowance for doubtful accounts (100) -

$8,163 $7,742

The Institute provided an allowance for doubtful accounts of US$100 in 2011.



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6. Accounts Receivable - Employees

This account at December 31 consists of advances to:

2011 2010Internationally-recruited staff (IRS) $131 $215Nationally-recruited staff (NRS) 45 165Trainees, scholars, post doctorate fellows (PDF) 26 22

$202 $402

7. Accounts Receivable - Others

The account at December 31 consists of advance payment to suppliers, consultants and other third parties, as follows:

2011 2010Advances to suppliers $1,705 $741IRRI Fund Limited 712 536Funds in-trust - 188Others 574 165

2,991 1,630Allowance for doubtful accounts (536) (290)

$2,455 $1,340

IRRI Fund Limited is a corporation registered in Singapore as an international charitable organization that facilitates and encourages support for rice research, particularly the work of the Institute, from private and public donors in Singapore, Asia and other countries.

The Institute provided an allowance for doubtful accounts amounting to US$246 and US$290 in 2011 and 2010, respectively.

8. Inventories

This account consists of:

2011 2010Spare parts $420 $363Supplies and other inventories 398 306

818 669Allowance for inventory obsolescence (368) (276)

$450 $393

The increase in the allowance for inventory obsolescence of US$92 and US$172 in 2011 and 2010, respectively, was recognized in the statements of activities as part of management and general expenses under “Supplies and services” account.



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9. Property and Equipment

The details of the Institute’s property and equipment are as follows:

December 31, 2011Infrastructure

Physical and Leasehold FurnishingFacilities Improvements and Equipment Total

CostBalance at beginning of year $123 $4,583 $40,365 $45,071Additions - 246 4,925 5,171Disposals - - (1,659) (1,659)Balance at end of year 123 4,829 43,631 48,583

Accumulated depreciationBalance at beginning of year 36 1,235 31,999 33,270Depreciation expense for the year 2 155 5,174 5,331Disposal - - (1,546) (1,546)Balance at end of year 38 1,390 35,627 37,055

Net book value $85 $3,439 $8,004 $11,528

December 31, 2010Infrastructure

Physical and Leasehold FurnishingFacilities Improvements and Equipment Total

CostBalance at beginning of year $123 $3,041 $37,659 $40,823Additions - 1,542 3,303 4,845Disposals - - (597) (597)Balance at end of year 123 4,583 40,365 45,071

Accumulated depreciationBalance at beginning of year 34 1,010 29,264 30,308Depreciation expense for the year 2 225 3,265 3,492Disposal - - (530) (530)Balance at end of year 36 1,235 31,999 33,270

Net book value $87 $3,348 $8,366 $11,801

Total assets purchased using restricted grants amounted to US$7,961 and US$5,147 as of2011 and 2010, respectively.



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10. Accounts Payable - Donors

This account includes grants received for which conditions are not yet fulfilled and amounts payable to donors in respect of unexpended funds received in advance for restricted grants(see Exhibit 1).

2011 2010Restricted

Temporary $30,860 $37,410Challenge programs 1,020 722

$31,880 $38,132

11. Accounts Payable - Others

2011 2010Advances from employees $288 $161Funds in-trust 536 525Deferred training charges 228 189Deferred salaries and benefits of PDFs 1,663 199Accounts payable - other CGIAR Centers 5,792 45Others 3,128 2,283

$11,635 $3,402

12. Accruals and Provisions

This account at December 31 consists of:

2011 2010Accruals

Trade $1,090 $1,247Others 2,905 1,804

3,995 3,051Provisions 4,383 4,043

$8,378 $7,094

Provisions consist of accumulated leave credits due to staff as of December 31, 2011 and 2010 based on current personnel policy manual, in addition to repatriation costs of IRS.



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Movements on the provisions are as follows:

2011 2010Beginning balance $4,043 $3,524Additional provisions 898 937Amount used during the year (558) (418)Ending balance $4,383 $4,043

13. Nationally Recruited Staff (NRS) Provident Fund

The Institute maintains a non-contributory provident fund for the benefit of its NRS. The monthly contribution of the Institute to the fund is computed at 10.5% of an employee’s monthly basic salary which is remitted to the trustee-administered funds. The fund provides for lump sum payment to qualified employees/members upon their separation from the Institute, under certain conditions. The Institute is currently implementing Voluntary Early Retirement Programme.

The Institute’s provident fund is administered and managed by a trustee based on approved investment guidelines as contained in the Trust Agreement.

With the implementation of the new salary structure for Institute’s Headquarter-based NRS effective January 1, 2012, the Institute engaged the services of an actuary to test the fund’s adequacy to cover the minimum benefits required by Philippine laws. Based on the actuarial report dated February 22, 2012, there is a funding deficiency of US$927. This shortfall was recognized as an unfunded accrued liability under Accruals - Others “Accruals and provisions” account in the statement of financial position as of December 31, 2011.

Contributions to the fund amounted to about US$587 and US$509 in 2011 and 2010,respectively. The contributions to the provident fund were recognized in the statements of activities as part of “Personnel costs” account.

14. Research Initiative Fund

The movements in Research Initiative Fund are shown below:

AfricaStrategic And Knowledge

Frontier Research Needy Development PathwaysProjects Initiative Countries Office Initiative Total

Balances, December 31, 2009 $7,595 $106 $511 $842 $211 $9,265

Net deficit for the year (122) (52) - - - (174)Balances, December 31,

2010 7,473 54 511 842 211 9,091Net deficit for the year (17) - - - - (17)Balances, December 31,

2011 $7,456 $54 $511 $842 $211 $9,074



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DesignatedThere was no re-designation of the reserves in 2011.

UndesignatedThe Institute does not have undesignated net assets as of December 31, 2011 and 2010.

15. Leases

The Institute entered into the following lease agreements:

a. On September 7, 2001, the Institute renewed its lease agreement for research facilities with the University of the Philippines System (the “University”). The new lease agreement, which took effect on July 1, 2000, is for a period of twenty (25) years up to June 30, 2025, and are renewable upon mutual agreement of the parties. Under the terms of the agreement, the following provisions apply:

i. The Institute will pay a nominal rental of one peso every year for the parcels of land used as sites for its laboratories, office and service buildings and housing. In addition and continuing the past practice of providing the equivalent in cash of the approximate value of agricultural products that otherwise could be grown on the landbeing leased, the Institute provided a lump sum, and nonreimbursable financial assistance to the University in the amount of US$375.

ii. For the duration of the lease, the Institute will also contribute to the cost of development and maintenance of the roads, utilities and other support infrastructureat the University outside the leased land in the amount of US$12.5 per year from the 11th year to the 25th year.

iii. Pursuant to the Second Consolidated Renewal of Lease Contract between the University and the Institute, the latter shall execute documents necessary to facilitate the transfer of ownership of the buildings and permanent improvements to the former upon termination of the lease. Further, in Section 2 of Article XV of the Institute’s Charter, all the physical plant, equipment and other assets shall become the property of the University in case the Institute is terminated for any reason. As stated in thelease contract, the transfer of ownership shall not cover other assets such as the Institute’s Gene Bank and Genetic Resources, which have been assigned in trust to the Institute. Other assets donated to the Institute shall be subjected to other conditions in respect of their disposition upon dissolution of the Institute.

iv. In support of any expansion of the agricultural research program of the Institute and the University, the Philippine Government authorized the University to acquire, by negotiated sale or by expropriation, private agricultural property under Presidential Degree No. 457.

b. The Institute also leases additional eight (8) hectares of land for experimental rice production and other related purposes for five (5) years beginning January 1, 2010 to December 31, 2014 for annual base rental of $10. It is renewable under such terms and conditions mutually agreed upon by both parties.



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c. The Institute signed a lease contract with Hewlett Packard (HP) for a seat management agreement involving the lease of computers and other bundled services. The lease covers 4 phases effective for 3 years. The first phase started in October 2004 and the last phase was extended up to December 31, 2010. Another extension up to December 31, 2011 was made to help return the IRRI desktop and notebook users to full functionality as quickly as possible and allow them to focus on their primary business function. The minimum payment (including consumables) under this contract is US$19 per year.

d. The Institute entered into a Capital Lease Agreement with Service Support and for provision of services/maintenance including the supply of necessary spare parts and consumables with Fuji Xerox for a minimum period of 36 months starting February 1, 2011. The minimum payment under this contract is US$139 per year.

e. The Institute also leases land and other properties from third parties for project experimental sites with periods ranging from 1 to 5 years.

As of December 31, 2011 and 2010, the Institute does not have any lease contracts classified as finance leases. The leases mentioned above are accounted for as operating leases.

Rent expense shown as part of “Supplies and services” account in the statements of activities amounted to US$358 and US$330 in 2011 and 2010, respectively.

The future lease rental commitments of the Institute for the remaining term of the lease contract are as follows:

2011 2010Within one year $23 $23More than one year but not more than five years 83 93More than five years 100 113

$206 $229

16. Other Revenues

This account consists of:

2011 2010Investment gains $737 $1,337Self-sustaining activities 34 (23)Miscellaneous, including realized gain on

foreign exchange 1,018 288$1,789 $1,602



Exhibit 1Page 1 of 3

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INTERNATIONAL RICE RESEARCH INSTITUTESCHEDULES OF GRANTS REVENUES AND ACCOUNTS

RECEIVABLE/(PAYABLE) - DONORS(All amounts in thousand US Dollars)


Total Funds Accounts Accounts 2010Donors Available Receivable Payable Grant Grant

Unrestricted/Window 3Australia $1,928 $ - $ - $1,928 $1,282Bangladesh (100) 100 - - 100Canada - - - - 1,241China - 110 - 110 110France - - - - 91Germany 614 - - 614 612India - - - - 150Indonesia 45 - - 45 -Japan - - - - 632Korea - - - - 147Norway - - - - 409Philippines 89 25 - 114 112Sweden - - - - 547Switzerland - - - - 936Thailand 50 - - 50 80United Kingdom - - - - 2,423United States of America - - - - 3,950Vietnam 15 - - 15 15Worldbank - - - - 2,410

Total 2,641 235 - 2,876 15,247

CGIAR FundWindow 1 & 2 32,744 2,909 - 35,653 -

Subtotal 32,744 2,909 - 35,653 -

Bilateral RestrictedAsian Development Bank (ADB) 482 1,055 - 1,537 871Australia 17,498 - (14,268) 3,230 1,584Bangladesh (8) 8 - - -Bayer 140 97 - 237 88Bill and Melinda Gates Foundation 25,634 - (6,667) 18,967 16,838Brazil 20 - (20) - -Canada 78 - (4) 74 32China 137 - (78) 59 113Chinese Academy of Agricultural Sciences

(CAAS) 2,489 - (1,113) 1,376 1,245Africa Rice Center 117 - (29) 88 13Bioversity 7 - (5) 2 68CGIAR/System-wide Genetic Resources

programme (SGRP)/Special Program on Impact Assessment (SPIA) - - - - 46

International Center for Agricultural Research in the Dry Areas (ICARDA) - - - - 23

International Crop Research Institute for Semi-Arid Tropics (ICRISAT) 786 - (327) 459 331




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Centro Internacional de Agricultura Tropical - Information and Communications Technology/Knowledge Management Initiative (CIAT-ICT/KM) $3 $ - ($3) $ - $ -

International Food Policy Research Institute (IFPRI) 336 - (243) 93 88

Cornell University 110 40 - 150 292

European Commission 1,179 222 - 1,401 1,526Food and agricultural Organization of the

United Nations (FAO) 140 - (45) 95 35France 248 27 - 275 400Gatsby Foundation 155 - (155) - -Germany 1,069 - (76) 993 476Global Crop Diversity Trust (GCDT) 307 - (75) 232 271Grand Challenges in Global Health through

Albert - Ludwigs University of Freiburg 244 - (3) 241 389Hybrid Rice Research and Development

Consortium (HRDC) 555 - (112) 443 324International Atomic Energy Association

(IAEA) 12 - (12) - 1India 319 - (10) 309 329International Fund for Agricultural

Development (IFAD) 2,182 - (694) 1,488 997International Fertilizer Association (IFA)/

International Plant Nutrition Institute (IPNI)/ International Potash Institute (IPI) 176 - (70) 106 122

Iran 135 - (104) 31 48Japan 2,413 2,784 - 5,197 5,049Korea 2,094 - (1,271) 823 677Kellogg Foundation 80 - (35) 45 50Malaysia 15 - (8) 7 14Nunhems BV 16 - (11) 5 5Plan International Cambodia - - - - 6Philippines 1,013 - (375) 638 450Pioneer Hi-bred International 336 - (145) 191 234Portugal 420 - (305) 115 169Rockefeller Foundation (RF) 2,744 - (2,362) 382 929Switzerland 2,805 - (1,573) 1,232 1,065Syngenta 165 44 - 209 93Turkey 50 - (36) 14 -United Kingdom 100 - (29) 71 110United States of America (USA) 4,066 842 - 4,908 2,788Vietnam 110 - (36) 74 55Worldbank 306 - (235) 71 356




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World Vision Inc. $62 $ - $ - $62 $93Others 1,428 - (326) 1,102 742

Subtotal 72,773 5,119 (30,860) 47,032 39,435

Challenge ProgramsWater and Food 1,144 - (169) 975 88Generation 1,919 - (710) 1,209 1,011Harvest Plus 426 - (141) 285 1,047

Subtotal 3,489 - (1,020) 2,469 2,146

Total Window 1-2, Bilateral Restricted and Challenge Program 109,006 8,028 (31,880) 85,154 41,581

Total Grants $111,647 $8,263 ($31,880) $88,030 $56,828




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INTERNATIONAL RICE RESEARCH INSTITUTESCHEDULES OF BILATERAL RESTRICTED FUNDING

FOR THE YEAR ENDED DECEMBER 31, 2011(All amounts in thousand US Dollars)

GRANT PERIOD Grant EXPENDITURESDonors and program/project (DD/MM/YY) Pledged Prior Years 2011 Total

A. Consultative Group on International Agricultural Research (CGIAR)Window 1 and 2 01/01/11-31/12/11 $35,744 $ - $35,653 $35,653

Total 35,744 - 35,653 35,653

B. Bilateral RestrictedAsian Development Bank (ADB)Addressing the Pre- and Post-Harvest Challenges of the

Rice Supply Chain 29/10/10-28/10/12 2,000 188 921 1,109Strategic Research for Sustainable Food and Nutrition

Security in Asia 27/12/10-26/12/12 2,500 - 616 616

Total 4,500 188 1,537 1,725

AustraliaClimate Change affecting Land Use in the Mekong Delta:

Adaptation of Rice-based Cropping Systems (CLUES) 01/03/11-28/02/15 4,071 - 634 634Creating Climate Ready Rice for Future Global Food

Security: Investing in World-Class Scientific Infrastructure 11/10/10-10/10/13 15,202 437 848 1,285

Developing Capacity in Cropping Systems Modelling to Promote Food Security and the Sustainable Use of Water Resources in South Asia 01/12/10-30/11/12 319 - 87 87

Developing Molecular Markers to Enable Selection Against Chalk in Rice 01/05/07-30/04/12 851 532 138 670

Developing Multi-scale Climate Change Adaptation Strategies for Farming Communities in Cambodia, Laos, Bangladesh and India 01/04/10-30/09/14 664 107 104 211

Impact Pathway Analysis of ACIAR’s Investment in Rodent Control: Mekong Countries C2009/106 25/06/10-28/02/11 69 42 28 70

Improved Rice Establishment and Productivity in Cambodia and Australia (funded by ACIAR) 01/04/10-31/03/14 365 65 81 146

Improved Rice Germplasm for Cambodia & Australia 01/04/10-30/09/14 3,163 192 737 929Improving Rice Productivity in South and Southeast

Sulawesi 01/03/08-28/02/11 531 477 54 531Rice-based Systems in Ayeyarwaddy Delta Project in

Burma 02/12/11-09/12/11 16 - 16 16Introduction of Short Duration Pulses into Rice-based

Cropping Systems in Western Bangladesh (funded by ACIAR) 01/01/11-30/12/15 815 - 234 234

Sustainable Intensification of Rice-Maize Productions Systems in Bangladesh 01/07/08-30/06/13 1,663 705 249 754

Training Workshop on Social Sciences Concepts and Tools for Technology Assessment and Research Evaluation and Impact Assessment 09/06/11-06/08/11 30 - 20 20

Total 27,759 2,557 3,230 5,587

BayerFramework for a Consortium on “Ecological

Intensification of Future Rice-based Systems” 31/12/10-30/04/12 50 - 39 39Scientific Know-how and Exchange Program (SKEP) 10/11/09-09/11/12 655 79 176 255TABELA 01/11/10-28/02/11 32 9 22 31

Total 737 88 237 325

Bill and Melinda Gates FoundationCereal System Initiative for South Asia (CSISA) 01/12/08-31/05/12 22,494 11,999 6,764 18,763Creating the Second Green Revolution by Supercharging

Photosynthesis: C4-rice 15/10/08-30/04/12 11,018 6,674 3,051 9,725Rice in the 21st Century Global Economy: Strategic

Research and Policy Issues for Food Security 23/06/09-31/12/11 100 64 33 97Stress-tolerant Rice for Poor Farmers in Africa and South

Asia 01/11/07-31/01/11 19,980 18,916 1,064 19,980Stress-tolerant Rice for Poor Farmers in Africa and South

Asia (Phase II) 19/03/11-28/02/14 20,000 - 6,316 6,316The Deployment and Validation of High Beta-carotene

Rice Varieties 11/11/10-31/12/14 10,270 15 1,563 1,578Tracking Varietal Change for Future Assessment of the

Impact of Crop Genetic Improvement Research in South Asia 13/05/10-07/05/12 600 167 176 343

Total 84,462 37,835 18,967 56,802

CanadaThe Photosynthetic Significance of Lobing in Rice Leaf

Cells: A Research Program to Guide Breeding and Genetic Engineering for Improved Rice Yields 28/03/11-27/03/14 - 74




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ChinaChina - Grant to IRRI for GRISP 01/01/10-31/12/11 $110 $70 $40 $110China IRRI Collaboration 01/01/08-31/12/11 220 123 19 142

Total 330 193 59 252

Chinese Academy of Agricultural Sciences“Green Super Rice” for the Resource-Poor of Africa and

Asia 11/01/08-31/10/11 4,633 2,150 1,373 3,523EuropeAid Greater Mekong Subregion Rice IPM Project 28/01/11-27/01/16 43 - 3 3

Total 4,676 2,150 1,376 3,526

Consultative Group on International Agricultural Research (CGIAR Centers and SecretariatAfrica rice Center

Measuring and Assessing the Impacts of Crop Genetic Improvement in Africa: The Case of Pearl Millet, Rice, and Sorghum 26/04/11-31/12/12 66 - 13 13

Mitigating the Impact of Climate Change on Rice Disease Resistance in East Africa 01/01/10-31/12/12 204 13 66 79

RIDEV Model Development at IRRI: On-the-job Taining of Ms. Cecile Julia 21/09/11-31/03/12 25 - 9 9

Total 295 13 88 101

BioversityCase Study "Farming Community Registry as a Farmers'

Rights Mechanism and Its Use in the Plant Variety Registry of the Plant Variety Protection Office of the Philippines” 01/01/10-30/06/10 4 2 2 4

ICRISATTracking Changes in Rural Poverty in Household and

Village Economies in South Asia (Gates Village Level Surveys Gates-VLS) 01/05/09-30/04/14 2,021 543 459 1.002

International Food Policy Research Institute (IFPRI)Global Futures for Agriculture: Integrated Modelling and

Scenario Assessment 11/01/09-30/06/12 375 55 42 97IFPRI-ILRI Gender, Agriculture, and Assets Project

(GAAP) 01/05/11-30/04/13 100 - 21 21Research to Sharpen the Climate Change Focus in

Relation to the Research Being Conducted Under Global Gates Futures Project 01/10/11-30/01/12 30 - 23 23

Assessing the Poverty and Food Security Impacts of IRRI Contributions to Modern Varietal Replacement in Bangladesh, India, Indonesia and the Philippines During 1990-2010 15/07/11-15/07/13 75 - 7 7

Total 580 55 93 148

Cornell UniversityCornell University -Durable Resistance in Wheat 01/02/08-31/01/11 623 433 150 583




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GRANT PERIOD Grant EXPENDITURESDonors and program/project (DD/MM/YY) Pledged Prior Years 2011 TotalEuropean CommissionImproving Productivity and Resource Efficiency of Rice

Production Systems through a Global, Demand-Driven R & D Program) 01/01-11-31/12/13 $3,882 $ - $425 $425

Sustainable Soil Management for Food Security of Poor, Small and Marginal Farmers of Active Flood Plain and Charlands of Bangladesh 01/07/10-01/05/13 3,421 463 976 1,439

Total 7,303 463 1,401 1,864

Food and Agriculture Organization of the United Nations (FAO)

Advice for the Design and Development of an Information System in Suppo rt of the Multilateral System and Benefit Sharing of the International Treaty on Plant Genetic Resources for Food and Agriculture 23/12/10-16/06/11 49 - 39 39

Assessing the poverty and food security impacts of IRRI contributions to modern varietal replacement in Bangladesh, India, Indonesia and the Philippines during 1990-2010 15/07/11-15/07/13 125 - 5 5

Technical advice to countries on strategies/policies for sustainable rice production intensification in different agro-ecological and socio-economic conditions 01/03/11-31/01/12 69 - 51 51

Total 243 - 95 95

FranceFrance IRRI Collaborative Grant 01/01/11-31/12/11 228 - 228 228Decoding Rice Genetic Diversity (Oryza SNP Consortium

Project) 01/12/08-31/12/11 1,300 79 36 115Bioassays of Rice plants Expressing the Pea Albumin PA1

with Asian Insect Herbivores 13/08/10-12/08/12 19 4 11 15Total 1,547 83 275 358

Gatsby FoundationCollections of Landraces and Wild Species of Oryza in

Kenya, Mozambique, Tanzania and Uganda (in collaboration with WARDA) 01/05/07-30/04/12 160 5 - 5

GermanyEnhancing and Stabilizing the Productivity of Salt-Affected

Areas by Incorporating Genes for Tolerance of Abiotic Stresses in Rice 01/01/08-31/12/12 1,251 861 334 1,195

Facilitating Interdisciplinary On-farm Research on Carbon, Nitrogen, and Water Budgets in Rice-dominated Landscapes 01/05/11-30/04/13 78 - 17 17

From QTLs to Variety: Pyramiding Major Drought Responsive QTLs for Sustainable Rice Yields in Asia and Africa (BMZ Large Grant) 01/01/11-31/12/13 1,634 - 358 358

Molecular Breeding for Tolerance to Flooding During Germination for Improved Direct-seeded Rice Systems (PostDoc Grant - Dr Tobias Kretzchmar) 01/01/11-31/12/13 346 - 75 75

Spatial/Temporal Variability of GHG Emission from Farmers' Rice Fields Under Water Saving Strategies in the Philippines 01/10/09-30/09/12 242 77 67 144

LEGATO - Land-use Intensity and Ecological Engineering - Assessment Tools for Risks and Opportunities in Irrigated Rice Based Production Systems 01/03/11-29/02/16 825 - 90 90

Land Use and Climate Change Interactions in the Vu Gia Thu Bon River Basin, Central Vietnam (LUCCI) 17/12/10-16/12/13 248 - 52 52

Total 4,624 938 993 1,931

Global Crop Diversity Trust (GCDT)Long-term Funding of the EX Situ Collection of Rice

Germplasm Held by IRRI 01/11/06-31/10/12 1,777 1,194 232 1,426Grand Challenges in Global Health through Albert -

Ludwig’s University of FreiburgALUF/GCGH - Engineering Rice for High Beta-Carotene,

Vitamin E and Enhanced Iron and Zinc Bioavailability 28/09/05-27/09/11 1,902 1,661 241 1,902Hybrid Rice Research and Development Consortium

(HRDC)Hybrid Rice Research and Development Consortium

(HRDC) 01/02/08-31/12/11 1,498 944 443 1,387IndiaICAR RWC 01/04/07-31/03/11 100 91 9 100IRRI India Collaborative Grant 01/01/10-31/12/11 300 - 300 300Total 400 91 309 400

Forward




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GRANT PERIOD Grant EXPENDITURESDonors and program/project (DD/MM/YY) Pledged Prior Years 2011 TotalInternational Fund for Agricultural Development (IFAD)Accelerating Agricultural Technology Adoption to Enhance

Rural Livelihoods in Disadvantaged Districts of India 16/05/07-30/06/11 $1,000 $671 $174 $845Accelerating Resource Conservation Technology (RCT)

Adoption to Improve Food Security and Rural Livelihoods while Reducing Adverse Environmental Impacts, in the Indo-Gangetic Plains 10/12/10-31/12/12 1,319 4 302 306

Drought 16/12/10-31/12/14 1,200 - 125 125Enabling Poor Rice Farmers To Improve Livelihoods And

Overcome Poverty In South And Southeast Asia Through The Consortium For Unfavorable Rice Environments (Cure) 28/07/09-30/09/13 1,500 341 317 658

Improved Rice Crop Management for Raising Productivity in Submergence-prone and Salt-affected Rainfed Lowlands in South Asia 10/12/10-31/12/12 1,458 1 329 330

Reducing Risks from Arsenic Contamination for Poor People 31/10/08-31/08/11 200 133 67 200Support to Agricultural Research for Climate Change

Adaptation (SARCCAB) in Bangladesh 23/07/09-30/09/12 700 230 174 404Total 7,377 1,380 1,488 2,868

International Fertilizer Association (IFA)/International Plant Nutrition Institute (IPNI)/ International Potash Institute (IPI)

The Irrigated Rice Research Consortium Phase IV -Enhancing Profitability of Rice Farming in Asia through Improved Nutrient and Crop Management 01/01/09-31/12/12 480 211 95 306

IPI-Nutrient Management Options to Enhance Survival, Recovery and Yield of Submerged Sub-1 Varieties 01/02/10-31/01/13 32 1 3 4

IPNI-Site-specific Nutrient Management (SSNM) for Rice-maize Cropping Systems in Bangladesh 01/12/09-31/12/11 20 2 7 9

Assessment of Soil K Supplying Capacity from Soil Nutrient Reserves and Dissemination of Nutrient Management Technologies through the Nutrient Manager 01/07/10-30/06/13 9 - 1 1

Total 541 214 106 320

IranProducing Salt-Tolerant Rice Genotypes using Molecular

Breeding Approaches to Enhance Rice Productivity in Salt-Affected Paddy Fields of Iran (Iran-IRRI Collaborative) 01/01/11-31/12/13 80 - 29 29

Development of High Yielding Rice Varieties with ‘Sadri’ Quality (Iran-IRRI Collaborative) 01/01/11-31/12/13 150 - 2 2

Total 230 - 31 31

JapanAn Empirical Analysis on Expanding Rice Production in

Sub-Sahara Africa, Base Line Survey for Case Study in Tanzania 20/08/10-20/03/11 45 37 - 37

Area-focused Training Course on Upland Rice Variety Selection Techniques 17/11/10-25/10/11 22 - 2 2

Climate Change Adaptation in Rainfed Rice Areas (CCARA) 01/08/10-31/07/15 1,820 82 396 478

Collaborative Research on Socioeconomic Constraints to Adoption of Technology and Farmer's Response 01/04/05-31/03/11 159 144 9 153

Developing the Next Generation of New Rice Varieties for Sub-Saharan Africa and Southeast Asia 01/01/10-31/12/14 20,000 3,375 3,757 7,132

Genetics and Breeding Studies on Agronomic Traits Adapted to Rainfed Lowland in Rice 18/09/11-07/03/12 12 - 9 9

Impact Evaluation and Related Study in Bohol Irrigation Projects in the Philippines 05/02/10-31/05/11 300 138 123 261

Impact of local climatic conditions on rice spikelet fertility and grain quality in hot and vulnerable regions of India 01/09/11-28/02/12 28 - 12 12

Impact of the Micro-edit on Technological Adoptation of Rice Prodution 07/03/11-07/03/12 25 - 18 18

JICA - Season-Long Farming Extension Training 05/18/11-31/03/12 1,114 - 476 476Panel data construction and analysis, Tubuan Village in the

Philippines 04/08/11-31/03/12 20 - 6 6Transformation of Lowland Rice and Evaluation of

Transformed Rice For Environmental Stress Tolerance -Year 4 01/04/10-26/02/11 396 125 238 363

Transformation of Lowland Rice and Evaluation of Transformed Rice for Environmental Stress Tolerance -Year 5 01/04/11-26/02/12 390 - 148 148

Upland Rice Variety Selection Techniques (for African Countries) Training Program 25/10/11-17/11/11 23 - 3 3

Total 24,354 3,901 5,197 9,098

Forward




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KoreaCollaboration Network for the Management of Migratory

Rice Planthoppers and Associated Virus Diseases of Rice in Asia (AFACI regional project) 01/01/11-31/12/11 $10 $ - $9 $9

Cooperative Funding for Korea-IRRI Collaborative Projects 01/01/99-31/12/11 710 218 66 284

Development of Rice Cultivar with the Tolerance to High Temperature 15/04/10-14/04/13 140 (1) 58 57

Development of Submergence Tolerant Japonica Rice Variety 01/04/08-31/03/11 90 61 28 89

Germplasm Utilization and Value-Added Project 01/01/01-31/12/11 280 154 17 171Improvement of High-yielding Tongil Type Cultivars and

their Adaptability Test in Tropical Region 15/04/10-14/04/13 110 - 6 6IRRI/Korea – Attribution 01/01/10-31/12/11 50 - 50 50IRRI/Korea Office 17/11/01-31/12/11 2,530 2,234 258 2,492

Korean Seed Multiplication Project 01/07/91-31/12/11 574 492 58 550

RDA-IRRI Collaborative Project: Development of Drought Tolerant Japonica Rice Using Marker Assisted Back Crossing (MAB) 15/04/10-14/04/13 90 - 45 45

Reducing Crop Losses Due to Weedy Rice in Lowland Rice in South and Southeast Asia 15/04/10-14/04/13 300 23 131 154

Temperate Rice Research Consortium 08/02/07-31/12/11 746 578 97 675

Total 5,630 3,759 823 4,582

Kellogg'sEcological Intensification and Sustainability in Long-term

Rice-based Cropping Systems 10/14/09-10/13/13 200 70 45 115

MalaysiaMARDI-The Impact of Rice Production on

Environmental Sustainability 01/09/05-30/07/11 100 81 7 88

Nunhems BVFurther Development of International Crop Information

Systems (ICIS) in Collaboration with Nunhems - Phase II 01/04/06-31/03/11 100 85 5 90

PhilippinesAccelerating the Development of High Yielding Rice

Varieties for the Major Ecosystems of the Philippines 08/10/09-10/07/11 419 151 91 242Electronic Extension Services for Agricultural Extension

Workers on Proper Nutrient Management for Rice in the Philippines (Nutrient Manager for Rice) 04/06/10-03/06/11 43 17 24 41

Enhancing Knowledge Exchange and Decision-Making Among Rice Stakeholders through the Development and Promotion of Location-Specific Rice Knowledge Products and Delivery Systems (Phase 2) 01/09/10-31/08/13 273 3 67 70

Hybrid Nucleus and Breeder Seed Production 16/01/04-31/12/11 92 49 10 59Improved Nutrient Management Options for Unfavorable

Rainfed Lowlands in the Philippines 15/07/09-14/07/11 41 24 10 34Improving and Sustaining Local Capacity in Rice

Research and Development through Unified Rice and Rice-based General Educational and Technical Assistance 01/09/10-31/08/13 273 12 20 32

Strategic Assessment of Yield Limiting and Reducing Factors in the Philippines 08/10/09-07/10/11 380 62 211 273

Unified Capability Building Support 10/08/09-10/07/10 806 213 205 418

Total 2,327 531 638 1,169

PioneerScientific Know-How and Exchange Program bet IRRI &

Pioneer Hi-Bred International, Inc. (DuPont) 16/07/08-15/07/11 778 431 191 622

PortugalVillage-Level Market-Driven Rice Intensification 01/01/08-31/12/11 738 317 115 432

Rockefeller Foundation (RF)Golden Rice Product Development and Deployment 01/01/09-31/12/12 4,000 1,263 382 1645




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SwitzerlandThe Irrigated Rice Research Consortium - Phase IV

Labor Productivity and Community Ecology Work Group 01/01/09-31/12/12 $760 $244 $141 $385

Productivity Workgroup 01/01/09-31/12/12 425 166 88 254Management Team 01/01/09-31/12/12 2,467 835 593 1,428Water Saving Workgroup 01/01/09-31/12/12 786 318 171 489

Post Production Workgroup 01/01/09-31/12/12 151 41 21 62Crop Health 01/01/09-31/12/12 267 104 42 146

Ancient Genes for Future Rice (Mr. Jonghwa Park ETH Scholarship 2010) 01/02/11-31/01/13 30 - 5 5

Healthy Rice for Healthy People: Zinc Biofortification of Rice through Environmentally Targeted Germplasm Development and Zinc Management 24/08/09-15/11/11 197 86 79 165

Northern Uplands Rice Based Farming Systems Research (NURiFaR) Project 01/11/08-30/09/12 256 140 70 210

Remote Sensing-based Information and Insurance for Crops in Emerging Economies (RIICE) 14/09/11-31/01/15 1,576 - 22 22

Total 6,915 1,934 1,232 3,166

SyngentaScientific Know-how and Exchange Program (SKEP) 22/03/10-21/03/13 900 93 209 302

TurkeyTurkey IRRI Cooperative Research Projects. Developing

Blast-Resistant Japonica Rice using Marker assisted backcross Breeding (MAB) 01/11/10-31/10/13 76 - 14 14

United Kingdom/DFIDCis-Acting Regulatory Elements in the Rice Genome: A

Novel Source of Alleles for Rice Breeding (led by NIAB) 01/10/08-30/09/11 166 117 26 143

Poverty Alleviation Through Rice Innovation Systems 01/03/08-01/02/11 586 180 45 225

Total 752 297 71 368

United States of AmericaCereal Systems Initiative for South Asia (CSISA) - Year 3 01/10/10-30/09/11 505 7 498 505Expansion of Cereal Systems Initiative for South Asia

(CSISA) in Bangladesh 01/10/10-30/09/15 24,398 69 3,854 3,923Research-Driven Rice Intensification in Mozambique: A

Model for Sustainable Improvement of Rice Production 09/30/09-09/29/12 900 330 332 662USAID-CSISA India Mission 01/10/11-30/09/12 1,000 - 60 60Vitamin A Deficiency (VAD) Biofortification and Golden

Rice (IRRI) 01/10/10-30/09/12 700 - 164 164

Total 27,503 406 4,908 5,314

VietnamImproving Rice Tolerance of Submergence and Salinity to

Cope with Climate Change in Coastal Areas of Vietnamese Deltas 19/01/10-18/01/13 248 55 74 129

World BankRice Wheat Consortium 11/02/08-31/12/12 328 21 71 92

World VisionWorld Vision, Inc.-Partnership for Innovation and

Knowledge in Agriculture (PIKA) in India 01/10/08-30/06/11 257 180 62 242Forward




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OthersCSU- Identification of Genes that Control Biomass

Production Using Rice as a Model System 1/12/08 - 31/08/11 $300 $160 $170 $330CSU-Finetuning the Happy Seeder Technology for the

Adoption in Northwest India 01/10/07-30/06/11 173 153 11 164BBSRC-Characterizing Genetic and Soil Induced

Variation in Arsenic Uptake, Translocation and Metabolism in Rice to Mitigate Arsenic Contamination in Asia 01/01/08-31/12/10 24 22 (9) 13

Arcadia - Greenhouse Gas Studies in South Asia 01/03/10-28/02/13 220 41 72 113CSU-Developing Improved Farming and Marketing

Systems for Rural Livelihoods in Rainfed Southern Laos 01/12/09-30/11/13 642 65 188 253

DevGen-Scientific Know-how and Exchange Program (SKEP) 30/03/10-31/07/14 337 22 109 131

GRIPS - An Empirical Analysis on Expanding Rice Production in Sub-Sahara Africa, Base Line Survey for Case Study in Tanzania 20/08/10-20/03/11 20 16 4 20

Hatfields-Evaluation of Mekong River Commission Basin Development Plan Programme Phase 2 14/05/10-13/05/11 10 1 - 1

UC Davies-Delayed Senescence and Drought Tolerancein Rice 01/11/08-30/09/11 374 80 58 138

Others-Conservation of Arthropod Biodiversity and Ecosystem Services in Rice Environments of Hainan Island 01/02/10-28/02/13 400 138 109 247

Others: Digital system of precision agriculture for Indonesian rice farmers 02/06/11-15/03/12 750 - 368 368

Others:Support for four African Students to the Rice Research to Production Course 16/05/11-30/06/11 20 - 18 18

ISTA- Consultancy of Dr Hay as SST Chief Editor 14/10/11-31/12/12 24 - 4 4Total 3,294 698 1,102 1,780

Subtotal 232,309 65,152 47,032 112,184

B. Challenge Programs

Water and FoodDatabase Generation for INGER International Rice Trials

Conducted in South Asia, 2005-2009 (funded by University of Copenhagen 01/04/11-30/11/11 29 - 16 16

Project G1: Resource profiles, extrapolation domains and land-use patterns 30/04/11-30/04/14 899 - 73 73

Project G2: Productive, profitable, and resilient agriculture and aquaculture systems 30/04/11-30/04/14 1,275 - 168 168

Total 2,203 - 257 257

Generation A Molecular Breeding Platform 15/09/09-30/06/11 571 287 225 512A Molecular Breeding Platform (BMGF) 15/07/09-15/07/14 964 194 147 341Connecting Performance Under Drought with Genotypes

Through Phenotype Associations 01/01/08-31/12/10 267 186 49 235Detecting and Fine-Mapping QTLs with Major Effects on

Rice Yield under Drought Stress for Deployment via Marker Aided Breeding 01/08/07-31/03/11 599 473 76 549

Developing Rice with Dual Tolerance of Phosphorus Deficiency and Aluminum Toxicity: Marker Assisted Pyramiding of Pup1 with Novel Tolerance QTLs 01/04/10-31/03/12 512 10 334 344

Dissemination and community of practice for newly developed drought tolerant QTLs pyramided breeding lines 01/07/11-30/06/14 179 - 1 1

Drought from Different Perspective: Improved Tolerance through Phosphorus Acquisition 01/11/08-31/10/11 900 533 - 533

Enhancing Capacity for Use of Advance Genotyping for Fine-mapping and Pyramiding of Major Salt Tolerant QTLs 01/07/10-30/06/11 22 3 16 19

Identification of Novel QTLs for Salinity Tolerance and Pyramiding with Submergence Tolerance to Develop Improved Rice Varieties for Bangladesh (GCP 2009 PhD Fellowship - Armind Bhuiya) 15/03/10-14/03/13 75 15 21 36

Improving Rice Productivity in Lowland Ecosystems of Burkina Faso, Mali and Nigeria Through Marker-assisted Recurrent Selection for Drought Tolerance and Yield Potential (led by AfricaRice) 01/04/10-31/03/14 128 - 25 25

Rice Multi-parent Advanced Generation Inter-Crosses (MAGIC) Phase II 01/11/11-1/10/13 933 - 8 8

Targeting Drought-Avoidance Root Traits to Enhance Rice Productivity Under Water-Limited Environments 01/11/08-31/10/11 900 457 306 763

Total 6,050 2,158 1,208 3,366




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Harvest PlusAdvancing the development of Golden Rice varieties for

the Philippines and Indonesia (USAID-HP Golden Rice) - Agreement #5224 01/01/10-31/03/12 $400 $ - $198 $198

Development of High-Iron Rice -Harvest Plus Phase II -Agreement #5215 01/07/09-31/12/11 240 90 113 203

Development of High-Zinc Rice for Bangladesh & Eastern India Phase II 01/01/09-31/12/11 1,944 999 629 1,628

Rice Partnership Bangladesh (Harvest Plus Phase II) -Agreement #5213 01/01/09-31/12/11 361 9 64 73

Total 2,945 1,098 1,004 2,102

Subtotal 11,198 3,256 2,469 5,725

Grand Total $279,251 $68,408 $85,154 $153,562



Exhibit 3

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INTERNATIONAL RICE RESEARCH INSTITUTEDETAILS OF OPERATING EXPENSES

FOR THE YEARS ENDED DECEMBER 31, 2011 AND 2010(All amounts in thousand US Dollars)

2011Research

Research Support & Management andPrograms Operations Sub-total General Total 2010

Unrestricted/Window 3Personnel costs $422 $ - $422 $4,582 $5,004 $10,889CRP Collaborator/Partnership costs -

CGIAR Centers - - - - - -Collaborator/Partnership costs - Others - - - - - 325Supplies and services 32 - 32 1,192 1,224 5,956Operational travel - - - 438 438 919Depreciation - - - 976 976 1,897

Total operating expenses 454 - 454 7,188 7,642 19,986

Recovery of indirect cost - - - (6,526) (6,526) (4,254)

Subtotal 454 - 454 662 1,116 15,732

Window 1 & 2Personnel costs 6,293 2,619 8,912 - 8,912 - CRP Collaborator/Partnership costs -

CGIAR Centers 12,316 - 12,316 - 12,316 - Collaborator/Partnership costs - Others 189 - 189 - 189 - Supplies and services 8,738 2,008 10,746 - 10,746 - Operational travel 617 107 724 - 724 - Depreciation 1,936 830 2,766 - 2,766 -

Subtotal 30,089 5,564 35,653 - 35,653 -

Bilateral RestrictedPersonnel costs 11,892 - 11,892 - 11,892 10,590CRP Collaborator/Partnership costs -

CGIAR Centers - - - - - - Collaborator/Partnership costs - Others 16,277 - 16,277 - 16,277 12,928Supplies and services 14,617 - 14,617 - 14,617 11,994Operational travel 2,665 - 2,665 - 2,665 2,644Depreciation 1,581 - 1,581 - 1,581 1,279

Subtotal 47,032 - 47,032 - 47,032 39,435

Challenge ProgramsPersonnel costs 713 - 713 - 713 597CRP Collaborator/Partnership costs -

CGIAR Centers - - - - - - Collaborator/Partnership costs - Others 526 - 526 - 526 319Supplies and services 1,099 - 1,099 - 1,099 786Operational travel 123 - 123 - 123 128Depreciation 8 - 8 - 8 316

Subtotal 2,469 - 2,469 - 2,469 2,146

Total restricted 79,590 5,564 85,154 - 85,154 41,581

Grand Total $80,044 $5,564 $85,608 $662 $86,270 $57,313

Personnel costs $19,320 $2,619 $21,939 $4,582 $26,521 $22,076CRP Collaborator/Partnership costs -

CGIAR Centers 12,316 - 12,316 - 12,316 - Collaborator/Partnership costs - Others 16,992 - 16,992 - 16,992 13,572Supplies and services 24,486 2,008 26,494 1,192 27,686 18,736Operational travel 3,405 107 3,512 438 3,950 3,691Depreciation 3,525 830 4,355 976 5,331 3,492

Subtotal 80,044 5,564 85,608 7,188 92,796 61,567Recovery of indirect cost - - - (6,526) (6,526) (4,254)

Grand Total $80,044 $5,564 $85,608 $662 $86,270 $57,313



Exhibit 4

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INTERNATIONAL RICE RESEARCH INSTITUTEINDIRECT COST CALCULATION(All amounts in thousand US Dollars)

December 31

2011 2010Research expenses excluding CRP

Collaborators/Partnership Costs-CGIAR Centers $66,766 $50,711Institutional costs 7,188 6,602

Total $73,954 $57,313

Cost RatiosIndirect/Direct 10.77% 13.02%



Exhibit 5

- 29 -

INTERNATIONAL RICE RESEARCH INSTITUTEEUROPEAN COMMUNITY FUNDING

STATEMENT OF EXPENDITURESFOR THE YEAR ENDED DECEMBER 31, 2011

(All amounts in thousand)

Grant Grant Pledged 2011 Budget BalanceProgramme period In EUR In USD In EUR In USD In EUR In USDImproving Productivity and

Resource Efficiency of Rice Production Systems through a Global, Demand-Driven R & D Program

01/01/11-31/12/13 3,000 3,882 328 425 2,672 3,457



Exhibit 6

- 30 -

INTERNATIONAL RICE RESEARCH INSTITUTEGERMAN UNRESTRICTED CONTRIBUTION

CONTRACT NO. 81137652; PROJECT NO. 10.7860.9-001.00STATEMENT OF EXPENDITURES

FOR THE YEAR ENDED DECEMBER 31, 2011(All amounts in thousand)

TOTALParticulars In Euro In USDTheme 1. Harnessing Genetic Diversity to Chart

New Productivity, Quantity and Health Horizons.(Product Line 1.1 Ex Situ Conversation and Dissemination of Rice Germplasm and Product Line 1.2 Characterizing Genetic Diversity and Creating Novel Gene Pools)

Personnel Costs 236 309Operations 182 239Administrative Costs 50 66

Total 468 614




- 31 -

INTERNATIONAL RICE RESEARCH INSTITUTECGIAR RESEARCH PROGRAM (CRP)

SUPPLEMENTARY SCHEDULESFOR THE YEAR ENDED DECEMBER 31, 2011

(All amounts in thousand US Dollars)

CRP 3.3 GLOBAL RICE SCIENCE PARTNERSHIP (GRiSP) EXPENDITURE REPORT

Window 3 &

Window 1 &2Bilateral Funding Total Funding

Personnel $8,427 $12,296 $20,723Collaborator/Partnership costs - Others 145 16,803 16,948Supplies and services 9,599 10,782 20,381Operational travel 679 2,733 3,412Depreciation 2,766 853 3,619Direct costs 21,616 43,467 65,083Indirect costs 390 4,827 5,217Total Expenses $22,006 $48,294 $70,300




- 32 -




CRP 3.3 GLOBAL RICE SCIENCE PARTNERSHIP (GRiSP) FUNDING REPORT

Window1 & 2

Receipts $21,451Disbursements 22,006Fund Balance ($555)




- 33 -




CRP 7 CLIMATE CHANGE, AGRICULTURE AND FOOD SECURITY EXPENDITURE REPORT

Window 3 &

Window 1 &2Bilateral Funding Total Funding

Personnel $30 $57 $87Collaborator/Partnership costs - Others 44 - 44Supplies and services 73 29 102Operational travel 24 35 59Direct costs 171 121 292Indirect costs 34 7 41Total Expenses $205 $128 $333




- 34 -




CRP 7 CLIMATE CHANGE, AGRICULTURE AND FOOD SECURITYFUNDING REPORT

Window1 & 2

Receipts $297Disbursements 205Fund Balance $92




- 35 -




CRP 3.3 GLOBAL RICE SCIENCE PARTNERSHIP (GRiSP)EXPENDITURE REPORT - LEAD CENTER

Window 3 &

Natural ClassificationWindow

1 &2Bilateral Funding

Center Funds

Total Funding

Personnel costs $12,378 $17,204 $ - $29,582CRP Collaborator/Partnership

costs - CGIAR Centers - - - -Collaborator/Partnership costs -

Others 914 20,002 - 20,916Supplies and services 13,201 14,173 - 27,374Operational travel 1,387 3,853 - 5,240Depreciation 4,422 1,427 - 5,849Direct costs 32,302 56,659 - 88,961Indirect costs 2,020 6,199 - 8,219Total Expenses $34,322 $62,858 $ - $97,180




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CRP 3.3 GLOBAL RICE SCIENCE PARTNERSHIP (GRiSP)FUNDING REPORT - WINDOW 1 & 2

Description TotalOpening balance $ -Cash receipts from Consortium 31,321

Total Cash AvailableDisbursements:

Africa Rice 7,323CIAT 2,544IRRI 21,454

Total Disbursements 31,321

Closing Balance $ -


irri ar 2011 - audited financial statements

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