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Sunday, 10 October 2010 17:58

Economic Company to Invest Next Two Years' Earnings in the City's Youth Programs

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Economic Company to Invest Next Two Years' Earnings in the City's Youth Programs

Mayor Haim Bibas, who is also the head the Modiin Economic Company Directorate, approved at the latest directorate meeting an act that will donate the Economic Company's earnings over the next two years to the city's youth. The Economic Company has promised that this new decision will result in new buildings being built, existing buildings being improved, and different activities and projects for the youth movements in the city.

At their next meeting, the directorate members are expected to present a relevant plan. Since Doron Barak was appointed CEO of the Economic Company in 2009, the company has undergone dramatic administrative changes that have resulted in the opening of Anabe Park and the Municipal Pool and the construction of several schools and synagogues. The company  has also recently completed building a new building for the Scout's Yovel branch on Emek Beit She'an in HaMeginim. The municipality has given word that this is only the beginning of he road, and that the company has additional plans to build youth clubs and youth movement buildings in several more city neighborhoods.

The company's financial statements indicate success. In 2008, before Barak was appointed CEO, the company's financial turnover stood at 16,200,000 shekels with a net loss of 200,000 shekels by the end of the year. In 2009, however, their turnover stood at 17,600,000 shekels and they had earned an excess 850,000 shekels by the ed of the year. As present at the company's last general assembly meeting, they expect to have a financial turnover of more than 32,000,000 shekels by the end of the year. The company's excess earnings, which are expected to continue to grow according to their work and projects planned, will go towards the city's youth over the next two years.

CEO Barak Doron held an appreciation evening at the Municipal Pool this Sukkot Eve for all of the city's youth movements' oldest scouts and leaders. "There are excellent teenagers in Modiin, and there is no doubt that investing the Economic Company's earnings over the next two years will help create activity centers and promote the city's youth movements in an unprecedented manner," said Barak. "The youth movements and the oldest scouts leading them are the spearheads of the city's youth, who hold lead all of the national criteria for volunteering and social activity. The fun night at the pool is just the little bit that we can do to for them in order to thank them for the important work that they do for the city's children in the informal education field."

via mynet. Click here to view original article.

Sunday, October 10, 2010

6:12 PM




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