SUMMARY OF DOCUMENTS
Statement of accounts 2
The balance-sheet 6
Appendix 1: Documents enclosed with the party balance-sheet 9
Appendix 2: Report of the auditors on the balance-sheet 12
Appendix 3 Estimates of the final accounts of the Torre
Argentina società di servizi S.p.A. 14
Appendix 4: Overall financial requirements. 15
Appendix 5: Comparison between the final accounts of the
financial year 1992 and the November 1991
estimates (Zagreb Federal Council session). 18
Appendix 6: Trend of balance-sheets and balanced financial
requirements of the Party and T.A.S.S. S.p.A.
from 1989 to 1992 and estimates to 28 February 1993. 20
Appendix 7: Breakdown of overall expenditure of the party and
T.A.S.S. S.p.A. for 1992. 21
Appendix 8: New 1993 mmbership fees. 31
Note: the accounts and balance sheet of the Radical Party are drawn up in Italian lira. Purely for reference purposes, without setting a precedent, equivalents are given in dollars. The exchange rate used is the 1992 average (1.000 It. Lire= $0.811)
STATEMENT OF RADICAL
PARTY ACCOUNTS
From 1 January to 31 December 1992
On the occasion of this second session of the XXXVI Congress of the Radical Party, the accounts for the year of 1992 are submitted for approval, as laid down by the statute, and as the accounts for the year 1991 were approved at the first session.
The accounts and balance sheets of the Radical Party are calculated in Italian Lire. To facilitate comprehension, as at the first session of Congress, we have shown the figures in US dollars too, though the dollar figures are necessarily approximate. The exchange rate adopted, $0.811 per 1,000 Italian lire, or 1,233.029 lire per $1, is an average of 1992 exchange rates. (source: Italian Exchange Office).
The profit and loss account
The most striking figure in the profit and loss account regards the 1992 deficit of 1,636,228,574 lire ($1,326,981.37) which cancels out the surplus of 595,314,799 lire ($482,800.30) recorded at the end of 1991, resulting in a cumulative deficit of 1.040.913.775 lire ($844,181.07).
The annual deficit is made up of expenses totaling 7,213,735,191 lire ($5,850,339.24) and of income totaling 5,577,506,617 lire ($4,523,357.87)
Income
The public financing awarded to political parties represented in the Italian parliament (2,850,000,000 = $2,311,350), which is registered net of advertising expenses and the special book-keeping laid down by the law (2,791,849,653 = $2,264,190.07), was received by the Radical Party for the last time in 1992; as the Party has no elected members to parliament, it is not eligible for this financing for 1993.
Income from self-financing activities, sums received for membership and contributions by party members amounted to 905,464,388 lire ($734,331.62), that is to say 400 million lire (325 thousand dollars) more than the estimate made in early 1992, though this figure still falls some way short of the amount deemed to be the technical minimum for carrying out the Radical Party's political project. The total figure also includes 69,620,065 lire ($56,461.87) from payments made during the month of December 1992 but pertinent to 1993 membership.
More than 95% of the total amount was paid by Italian members, although they constitute just 26% of the total number of party members. Such a disparity between the amount paid and the number of members is a consequence of the low living standards and the extremely high devaluation to be found particularly in Eastern European countries, where the majority of party members live. Bearing the economic difficulties of these countries in mind, membership fees for 1992 were kept to what amounted to a symbolic figure, though for 1993, in respect of statutory rules, these fees have been increased in line with the progress of Gross Domestic Product of each country, where necessary modified in accordance with other indicators such as average wages and consumer prices of essential items. The figures thus obtained were then reassessed on the basis of devaluation or inflation depending on whether available base rates were expressed in the local currency or in another currency (see Appendix 8).
Seventy per cent of the overall figure for contributions made by non-members, (197,000,000 lire = $159,767) out of the total of 263,989,281 lire ($214,095.31), came from Italy, more specifically from the stalls in operation until January 1992 to gather signatures for the referendum campaigns.
Lower than the estimate of 400 million lire ($320,000) by 130 million lire ($100,000) was the contribution to the Party received from its members of the Italian parliament, drawn from their income as MPs.
The "Lista Marco Pannella" association, which independent of the Radical Party fielded its own candidates for the general election held on 5 April in Italy, had six candidates elected in 1992 and paid the party the sum of 994,336,858 lire ($806,407.19), equivalent to 63% of the total amount of their 1993 share of public financing.
Expenditure
Congress: The five-fold increase (from 1,435 to roughly 7,500) in the number of members from outside Italy, and the unforeseen holding of Congress in two sessions, have respectively led to an increase in the unit cost of Congress from 1 billion to 1.3 billion lire (from 800,000 to 1 million dollars), above all because of an increased burden of reimbursement of travel and lodging expenses, and of total expenses to be paid during the course of the year.
(For a detailed breakdown of expenditure, see Appendix 7)
Assets and liabilities
Party assets stand at 2,041,873,743 lire ($1,655,959.67) and liabilities at 3,082,787,518 ($2,500,140.68). The difference of 1,040,913,775 lire ($844,181.07) constitutes the overall deficit to 31 December 1992, which when combined with last year's surplus of 595,314,799 lire ($482,800.31) reveals a worsening of the ongoing balance to a sum of 1,636,228,574 lire ($1,326,981.37).
Assets
Shareholdings
There has been no change in the shareholding of 330 million lire ($267,630) in T.A.S.S., the company that owns the building where the party has its offices.
The holding in SO.G.EM. S.r.l. was reduced from 27,316,000 lire ($22,153.28) to 9,200,000 lire ($7,461.20): this company owns Radio Radicale, and after the Italian elections in April it was necessary to alter the company's status from "organ of the Radical Party" to "organ of the Marco Pannella list", in order to continue to benefit from public financing as laid down by the law on publishing.
Loans
There has been no change with respect to the previous year in the loan taken out by Paolo Vigevano for a capital increase of the Centro di produzione S.p.A., the company that owns Radio Radicale.
The loan taken out by T.A.S.S. S.p.A. to pay for building work, on the other hand, has been reduced from 816,555,279 lire ($662,226.33) at the end of 1991 to 368,880,144 lire ($299,161.80) at 31 December 1992. The partial repayment of this loan was possible thanks to the company's own activities in the sector of service production through the Monitoring Centre for TV and Radio news broadcasting and Agorà.
Other credits
The category "other credits" (see the detailed list in Appendix 1A) mainly includes party credits raised from deputies and senators elected as candidates of the Radical Party during the term of government which came to an end with the elections held on 5 April 1992. Of the total sum under the category credit through allowances, amounting to 454,073,481 lire ($368,253.59), only a portion may be considered collectable, whereas it was felt a prudent move to set up a "reserve for credit risks" on the liabilities side of the statement for 318,300,000 lire ($258,141.30). The aforementioned credit should at the least be considered "at risk", if not completely uncollectable. Indeed, over and above the reasons laid out in previous statements of account, with the end of the term of government and the non-reëlection of all debtor members of parliament, concrete possibilities of coming into possession of such sums are non-existent.
Liabilities
Although the liabilities on one hand show a reduction of debt towards suppliers (see detailed list in appendix 1B) from 1,458,927,438 lire ($1,183,190.15) to 631,573,720 lire ($512,206.29), they also show an increase in other debts (see appendix 1B) constituted almost entirely (450,000,000 lire = $364,950) by the loan provided by the Lista Pannella so that funds were available for party activities for the last part of the financial year.
Expenditure reserve
It was considered wise to include under liabilities estimated expenditure for the second session of Congress, in view of both the size of the sum (1,300,000,000 lire = $1,054,300) and of the fact that although the Congress is convened in February 1992, it is, in a political sense, part of 1992 business.
Note: the accounts and balance sheets of the Radical Party are calculated in Italian Lira. the equivalent amount in US Dollars is given, without wishing to create any precedent. The rate of exchange adopted is the average rate for 1992 (1,000 It. Lira = 0.811 US Dollars)
RADICAL PARTY'S BALANCE AT DECEMBER 31ST 1992
ASSET AND LIABILITY STATEMENT (in US$)
ASSETS
Current assets
Cash and bonds 75.115,718
Banks 42.091,482
postal current account 27.378,407
Holdings in subsidiary
companies
T. Arg. Servizi S.p.a. 267.630,000
SO.G.EM. S.r.l. 7.461,200
Coop. Ediz. Radicali 47.175,870
Loans
capital increase of the
Centro di Produzione S.p.A. 222.214,000
Torre Argentina Servizi 299.161,797
Other credits
of the Party 454.150,771
of the Cooperative 88.224,195
Credits towards clients
of the Cooperative 932,650
Depot (Works of art) 5.636,450
Equipment and facilities
(net) 118.787,065
TOTAL ASSETS 1.655.959,606
LIABILITIES
Banks ---
Various debts 551.410,090
Debts toward suppliers 512.206,287
Pressing bills 124.083,000
Risk fund for credits 258.141,300
Fund for the XXXVI Congress,
II session 1.054.300,000
TOTAL LIABILITIES 2.500.140,677
TOTAL ASSETS 1.655.959,606
TOTAL LIABILITIES 2.500.140.677
DEFICIT 844.181,072
Note: the accounts and balance sheets of the Radical Party are calculated in Italian Lira. the equivalent amount in US Dollars is given, without wishing to create any precedent. The rate of exchange adopted is the average rate for 1992 (1,000 It. Lira = 0.811 US Dollars)
RADICAL PARTY'S BALANCE
PROFIT AND LOSS ACCOUNT from January the 1st to December 31st 1992 (in US$)
EXPENSES
Structure expenses
XXXVI Federal Congress 1st session 558.485,036
XXXVI Federal Congress 2nd session 1.054.300,000
Italian Congress 120.155,721
Federal Councils ---
Secretariat:
Remunerations 99.401,562
Meetings-Seminars 24.882,501
Travel-Accomodation-Transport 36.811,379
Other expenses 2.919,519
Treasury:
Remunerations 9.206,350
Other expenses 1.177,937
Section in charge of membership:
Remunerations 90.419,397
Other expenses 20.602,658
Total structure expenses 2.018.362,061
Total expenses for operation and services
Rome offices
Remunerations 52.186,346
Other expenses 450.398,574
Information:
Other expenses 111.687,938
Mailing lists 13.532,367
Total expenses for oper. and serv. 627.805,225
Political activities
Activities in Italy:
Remunerations ---
Various initiatives 169.985,728
Electoral campaigns 122.315,372
Activities in other countries:
Coordination Centre Brussels: ---
Remunerations ---
Other expenses 23.195,192
Coordination Centre Budapest:
Remunerations 11.493,603
Other expenses 106.909,983
Other countries:
Remunerations 198.118,997
Other expenses 512.205,836
Federation L.I.A. 107.457,500
Project "THE NEW PARTY":
Remunerations 350.994,173
Other expenses 774.248,561
Agorà:
Remunerations 80.335,227
Other expenses 69.328,929
Referendum campaigns-direct cost 222.031,029
Total activities 2.748.620,129
TOTAL EXPENSES 5.394.787,414
Contingent transactions 306.657,051
Patrimonial loss 148.894,775
TOTAL EXPENSES 5.850.339,240
PROFITS
Public financing 2.264.190,069
Self-financing:
Memb. fees 1992 677.869,746
Memb. fees 1993 56.461,873
Contributions 214.095,307
Emoluments of representatives 220.907,064
Contribution from Radical Senator 121.650,000
Contribution from Co.R.A. 29.196,000
Contribution from Lista Pannella 806.407,192
Other profits 32.432,591
TOTAL PROFITS 4.423.209,840
Contingent transactions 100.148,026
TOTAL PROFITS 4.523.357,866
TOTAL PROFITS 4.523.357,866
TOTAL EXPENSES 5.850.339,240
TOTAL PROFITS 4.523.357,866
DEFICIT 1.326.981,374
Surplus 1991 482.800,302
AGGREGATE DEFICIT 844.181,072
Note: the accounts and balance sheets of the Radical Party are calculated in Italian Lira. the equivalent amount in US Dollars is given, without wishing to create any precedent. The rate of exchange adopted is the average rate for 1992 (1,000 It. Lira = 0.811 US Dollars)
ENCLOSURE 1 - THE ENCLOSURES AT THE RADICAL PARTY'S BALANCE OF THE 1992
A)
OTHER CREDITS OF THE PARTY:
(in U.S. dollars)
Caution money 3.499,465
Other various credits 42.381,966
Debtors
Representatives and Senators 368.253,593
Debtor Centro di Produzione 1.836,104
Debtor Budapest 31.908,530
Asterix s.r.l. 4.055,000
Club Marco Pannella 342,073
Debtor E.R.A. 1.874,039
___________
454.150,771
===========
OTHER CREDITS OF THE COOPERATIVE:
(in U.S. dollars)
V.A.T. 78.282,586
STATE-IRPEG AND PART PAYMENTS 458,144
Anticipated leasing fees 2.704,801
Different credits 488,549
Associate for settlement losses 6.290,116
___________
88.224,195
===========
Note: the accounts and balance sheets of the Radical Party are calculated in Italian Lira. the equivalent amount in US Dollars is given, without wishing to create any precedent. The rate of exchange adopted is the average rate for 1992 (1,000 It. Lira = 0.811 US Dollars)
ENCLOSURE 1 - THE ENCLOSURES AT THE RADICAL PARTY'S BALANCE OF THE 1992
B)
VARIOUS DEBTS:
(in U.S. dollars)
Withholding taxes
to be paid by Party 29.979,525
to be paid by Cooperative 4.035,976
Social security inst. 871,825
Dismissal pay's fund 4.379,976
Taxes's fund 2.486,526
Creditors Co.R.A. 33.787,509
Creditor A.R.Co.D. 951,303
Creditor American Express 18.277,153
Creditor Federalist Group 495,862
Creditor ENEL 10.499,936
Creditor L.I.A. 80.694,500
Loan Lista Pannella 364.950,000
___________
551.410,090
===========
DEBTS TOWARD SUPPLIERS
(in U.S. dollars)
of the COOPERATIVE:
AGENZIA CONTRASTO 173,716
CO.LA.GRAF. COOP.R.L. 6.916,208
COOPERLEASING S.P.A. 1.053,396
COOPERATIVA GRAFICA 2.078,804
SORBUS ITALIA 1.013,345
EMME DUE GRAFICA 253,032
GRAFICA PALOMBI S.R.L. 20.917,312
MISCO ITALY S.P.A. 573,456
LINEA PRESS S.R.L. 115,811
N C R 5.461,396
RANK-XEROX S.P.A. 1.326,034
EDICOLA TODARO 729,819
S.I.P. S.P.A. 19.375,478
COOPERAT. SINNOS A R.L. 4.313,952
SEA S.R.L. 8.085,346
C.E.D. 1.119,180
Employees for remunerations 13.217,678
Collaborators 16.841,226
Leasing fees 884,801
___________
104.449,989
===========
Note: the accounts and balance sheets of the Radical Party are calculated in Italian Lira. the equivalent amount in US Dollars is given, without wishing to create any precedent. The rate of exchange adopted is the average rate for 1992 (1,000 It. Lira = 0.811 US Dollars)
ENCLOSURE 1 - THE ENCLOSURES AT THE RADICAL PARTY'S BALANCE OF THE 1992
count. enclosure B1 - (DEBTS TOWARD SUPPLIERS in U.S. dollars)
CURRENT OF THE PARTY:
AVIS AUTONOLEGGIO 3.812,830
UPS-ALIMONDO 187,227
ABC ITALY LTD -165,995
ALITALIA 22.332,020
BONELLI BOLOGNA BUS 1.865,300
CANDIDO 8.153,859
CALLERI 875,819
COOP 2001 447,223
ESEDRA 6.488,000
EUROPCAR S.P.A. 2.154,699
EDITORGRAFICA 337,782
ENGIPROGRAMM 2.740,377
EMME DUE GRAFICA 2.267,962
EXPO 405,338
FRANTOUR TOURISME 587,647
GAMMA TOUR 360,490
GRAFFITI 2.330,571
GIACALONE 9.724,912
HOTEL ERGIFE -8.110,000
HEWLETT PACKARD 383,141
HOTEL OASI DI KUFRA 15.587,177
HEROLDO 775,478
IDRA TRAVEL TURISMO 112,324
INTER TV 1.341,686
ITALPUBBLISERVIZI 2000 1.835,601
INFOCOM 8.316,020
JOHNSON ROLTELEX 208,622
KOMSOMOLSKAJA 39.258,872
MINOGUE 1.843,322
MG SYSTEM 4.759,049
ODEON PUBBLICITA' 78.910,138
PAN EDIT 96,509
POST OFFICE EXPRESS 675,563
PIOVERA S.R.L. 2.041,449
PECCE SERIGRAFIA 1.930,180
QUINTA RETE 956,980
S.I.P. TELEFONI 97.631,555
SEAT DIVISIONE STET 5.916,651
SPINOSI 3.227,840
SPORTING S.R.L. 2.070,280
TECNOCONFERENCE EUROPE S.R.L. 4.236,745
TR 56 68.740,368
TOSCANI 1.003,694
TECNOCONFERENCE S.R.L. 26.972,830
TMB GROUP -22.075,282
S.I.C.A.R. S.R.L. 518,736
SERRA LUIGI S.P.A. 3.067,056
SERVIZI EDITORIALI AVANZATI 617,658
407.756,298
===========
DEBTS V/Cooperative suppliers 104.449,989
DEBTS V/Party suppliers 407.756,298
512.206,287
===========
Note: the accounts and balance sheet of the Radical Party are drawn up in Italian lira. Purely for reference purposes, without setting a precedent, equivalents are given in dollars. The exchange rate used is the 1992 average (1.000 It. Lire= $0.811)
Appendix 2
REPORT OF THE AUDITORS ON THE 1992
BALANCE OF THE RADICAL PARTY
Dear comrades,
over the course of the year we have worked together with the Party Accounting Department and at the end of the year we have audited the balance by carrying-out a number of checks on samples of entries and the documents to which they refer.
For the last time, public financing from the Italian state appears among sources of income. We can assure you that all requirements of law have been respected, in particular those on separate filing of invoices paid and awaiting payment, on a combined statement of deductions to suppliers exceeding 5 million lire and on statements from those who contributed to the Party sums greater than the above amount. The Radical Party has moreover always furnished the Technical Commission of the Head Office of the Chamber of Deputies with a complete list of the names of all contributors, regardless of the sum they have paid.
Starting with the statement of assets and liabilities, you will find the entry for cash and bonds amounting to the large figure of 92,621,107 lire ($75,115.72): we wish to make it immediately clear that this does not refer to ownership of stocks in its broad definition, but rather to cheques for membership that because of the holidays had not been deposited at the bank.
Moving on to holdings in subsidiary companies (once again the entries have purely political value, as they refer to independent juridical entities whose capital is not held in the name of the Party), there has been a transfer of title of roughly 2/3 of Radio Radicale from the Radical Party to the Lista Pannella, for the purpose of continuing to receive public funding as laid down by the law on financing of the publishing sector in the case of an organ belonging to a group represented in parliament.
The last entry on the credit side is for 146,469,871 lire ($118,787.07), a sum almost exclusively made up of computer and printing equipment owned by Agorà that is not outlined in the balance-sheet of the Torre Argentina Società di Servizi S.p.A..
On the debit side, we would like to point out that the credit risk reserve stands at 318,300,000 lire ($258,141.30), which in our opinion is an unrecoverable amount owed by former parliamentarians who were not returned to the Italian houses of parliament.
We would however like to draw your attention to the expenditure reserve fund amounting to 1,300,000,000 lire ($1,054,300) for expenditure incurred during the current 2nd session of Congress, as this is politically-speaking part of 1992 activities.
As we are on the subject, we would like to suggest statutory amendments so that in future Congress is held every three years. Party funds at the present moment could not cover more frequent Congresses.
Moving on to the profit and loss account, we would like to make it clear that in reference to the outgoings for the XXXVI Congress amounting to 1,988,637,529 lire ($1,612,785.04), a large part of this expenditure covers reimbursement of travel costs incurred by non-Italian members and guests at this occasion and its previous session. The treasurer has pointed out a liabilities write-off amounting to 183,594,050 lire ($148,894.78) which refers to the removal of the balance entry concerning old, no longer usable equipment in the old offices at Via di Torre Argentina 18.
On the credit side there are contingent transactions for 123,487,085 lire ($100,148.03) due to the cancellation of a debt resulting from the exit of the European Federalist Parliamentary Group.
The failure of the Radical Party to penetrate in Western countries means that once again the financial precariousness we saw at the Budapest Congress has returned; the large number of people who from the former communist joined the Party is not enough to guarantee a continuation of activities. Therefore we advise a rechanneling of organizational efforts towards reaching citizens of the richer nations, without neglecting to turn to the international foundations we feel appreciate our policies: in the short term, though, there is no alternative to a rapid rise in Italian membership, and here we request an extraordinary commitment of all Radical activist energies.
In our opinion the ruling organs are in possession of sufficient assets to pay off the Party's creditors, but not to continue the Party's activities, should the number of new enrolments not reach the hoped-for numbers. Congress must, in any case, assume specific responsibility on this topic.
We reconfirm that the balance is real and true, we thank the treasurer and his assistants, and we invite our friends to approve the budget as it is presented to you.
Alberto TORZUOLI Antonino TAMBURLINI Sergio ROVASIO
Note: the accounts and balance sheet of the Radical Party are drawn up in Italian lira. Purely for reference purposes, without setting a precedent, equivalents are given in dollars. The exchange rate used is the 1992 average (1.000 It. Lire= $0.811)
Appendix 3.
Estimate of ASSETS AND LIABILITIES
of TORRE ARGENTINA SOCIETA' DI SERVIZI S.P.A.
to 31 December 1992
(in dollars)
ASSETS
Real property 3,045,455.81
Moveable property 684,119.19
Ongoing charges 109,413.38
Holdings 27,574.00
Leasing deposits 31,538.27
Cash funds 14,992.42
Bank accounts 90,872.31
Credits towards clients 279,101.16
Credits for invoices to be issued 174,324.45
Other credits 41,175.94
TOTAL ASSETS 4,498,566.92
LIABILITIES
Registered stock 348,730.00
Paid-in capital reserve 365,378.17
Reserve fund 79,642.70
Moveable goods sinking fund 230,616.58
Prov. acc. for cred. depreciation 3,212.83
Redundancy fund 15,742.35
Debts to members for loans 583,920.00
Real estate loan 631,813.17
Debt towards banks 458,539.21
Debt to Radical Party 299,211.76
Debts to suppliers 634,201.21
Debts for invoices in arrival 137,870.00
V.A.T 17,012.43
Other debts 19,910.07
TOTAL LIABILITIES 3,825,800.47
SURPLUS 672,766.45
BALANCED TOTAL 4,498,566.92
This apprendix contains the estimate of the assets and liabilities of the company that owns the party offices, T.A.S.S. S.p.A., which was set up with means provided by the Radical Party and manages the business of the Monitoring Centre for TV and Radio News Broadcasts and Agorà.
Note: the accounts and balance sheet of the Radical Party are drawn up in Italian lira. Purely for reference purposes, without setting a precedent, equivalents are given in dollars. The exchange rate used is the 1992 average (1.000 It. Lire= $0.811)
Appendix 4.
OVERALL FINANCIAL REQUIREMENTS.
Starting with the data of the Party balance-sheet to 31 December 1992 and with the estimated balance-sheet of the Torre Argentina S.S. S.p.A. it is possible to determine the overall financial requirement as the difference between credits and debits. In order to determine this requirement, with respect to the sums on the balance-sheet, the value of properties, that is to say moveable goods (equipment) and real property (the offices) and shareholdings is not taken into account. All items that, although listed as assets or liabilities on the balance-sheet, are not financial debts, are not taken into consideration either.
The figure obtained in this manner is the financial requirement that, in the case of liquidation, must be covered by total assets.
An estimate of the overall financial requirement has also been made for 28 February 1993, the date when it is expected to reach 5 billion lire (4,957 million lire - $4,020,127), that is to say more than the value of property registered on the balance-sheet (4,598 million lire - $3,728,978), though the true market value is without a doubt considerably higher.
Balance-sheet results:
(in thousands of dollars)
To 31 Dec.1992 To 28 Feb.1993
Party - 844 - 1,169
Torre Argentina S. S. + 673 + 511
- 171 - 658
Balance on balance-sheet net of property:
Value of property
of Torre Argentina (from balance-sheet) - 3,731
(3,755 real estate, 845 equipment)
Deficit net of property - 4,388
Overall financial requirements:
To 31 Dec.1992 To 28 Feb.1993
Party - 1,753 - 2,077
Torre Argentina S.S. - 1,781 - 1,943
- 3,534 - 4,020
Appendix 4. continued
Here follows an illustration of the criteria with which the value of overall debt was obtained from the balance-sheet.
a) Party balance-sheet.
Credit side of the assets and liabilities statement.
(in dollars)
- 267,630 "shareholding" in TASS
- 222,214 loan for an increase of capital of the Production Centre, to be paid back on a very long term agreement.
- 195,451 in credits that should formally be entered on the balance-sheet but whose collectability, though certain, is a complicated and risky matter.
- 124,083 in depot contents and equipment, though in the case of liquidation this figure could well be less.
- 130,571 in other items.
- 939,949 is the total of the difference between the credit side of the Party's assets and liabilities and the final figure on the "real balance-sheet".
Debit side of the assets and liabilities statement.
(in dollars)
- 26,763 from the federative pact drawn up with the LIA, that in the event of liquidation of the party, would become null.
- 167,877 of debts that can be cancelled on the basis of agreements, yet to be formalized, reached with suppliers.
+ 170,310 relating to expenses to be paid in the event of liquidation of Party activities, beyond those that figure on the balance-sheet.
- 6,488 in other items.
- 30,818
The final total of the balance-sheet is thus amended:
Balance-sheet deficit (in thousands of dollars)
- 844
Amendment on the credit side - 940
Amendment on the debit side -(- 31)
Rounding off + 1
- 908
Party financial requirements:
- 1,752
Appendix 4. continued
b) Balance-sheet of T.A.S.S. S.p.A.
Credit side of the assets and liabilities statement
(in dollars)
-3,045,305 balance-sheet value of the building
- 684,484 value of moveable property (fixtures, fittings, furniture and equipment).
- 109,485 ongoing charges relating to the remainder of expense for setting up the company, those relating to the purchase of the building and other goods.
- 27,574 shareholdings.
- 31,629 down payments for leasing
- 21,897 difference of credits towards clients
- 14,598 final figure of active invoices to be deferred to 1993 and to be sent out as part of 1992 business.
- 30,007 ILOR down payment
____________
-3,964,979
Debit side of the assets and liabilities statement
(in dollars)
- 348,730 registered stock
- 665,020 funds
- 583,920 debts towards members.
+ 94,076 correction of relevant revenues
____________
- 1,503,594
The final total of balance-sheet is thus amended:
Balance-sheet results
(in thousands of dollars)
+ 673
Amendment on the credit side - 3,965
Amendment on the debit side + 1,504
Rounding off + 7
- 2,454
Financial requirement:
- 1,781
Note: the accounts and balance sheet of the Radical Party are drawn up in Italian lira. Purely for reference purposes, without setting a precedent, equivalents are given in dollars. The exchange rate used is the 1992 average (1.000 It. Lire= $0.811)
Appendix 5.
Comparison between the final accounts of the financial year 1992 and the November 1991 estimates (Zagreb Federal Council session).
We have made a comparison between the estimated and the actual year-end balance-sheets. The data comes from the profit and loss account of the Party's balance sheet to 31 December 1992 and from the estimated balance-sheet for Torre Argentina S.S. for the same period.
The financial balance-sheet only takes account of disbursements in money and of income. Therefore the amounts of investments carried out during the year for improvements to the building or for the purchase of equipment and fixtures and fittings may be found in the entries for expenses for amounts corresponding to the purchase price of the price of execution. The final total obtained between expenses and income corresponds to the overall financial requirement as already outlined in the appendix...
Income
(in thousands of dollars)
estimate actual diff.
(Zagreb Nov.'91)
Enrolment 1992 no figure 678
Enrolment 1993 no figure 57
Contributions no figure 336
1,071 + 1,071
Elected member allowance 324 221 - 104
From sale of services
and transfer of rights 811 904 + 93
From Lista Pannella no estimate 806 + 806
State contributions 2,311 2,264 - 48
Other income no estimate 62 + 62
Contingent transact. no estimate 100 + 100
3,446 5,428 + 1,980
Appendix 5. continued
Expenditure
(in thousands of dollars)
estimate actual diff.
1991 contingency transactions:
Financial requirement 2.702(*) 2.365(**) - 337
at year-end '91
'91 expenses spent
in '92
Referendum 120 222 + 102
Expenditure on property
and goods investment 146 + 146
------ ------ -------
2.822 2.733 - 89
1992 financial year:
Annual expenditure 4.866 4.476(***) - 390
Congress 811 1.613 + 802
(one session) (two sessions)
Expenditure on property
and goods investment 152 + 152
------ ------ ------
5.677 6.241 + 564
8.499 8.974 + 475
Balanced financial requirement
(in thousands of dollars)
estimate actual diff.
(to 3 Dec. 1992)
Income 3.447 5.426 + 1.979
Expenditure 8.499 8.975 -(+ 475)
-5.053 -(- 3.549) -(+ 1.504)
Note: the accounts and balance sheet of the Radical Party are drawn up in Italian lira. Purely for reference purposes, without setting a precedent, equivalents are given in dollars. The exchange rate used is the 1992 average (1.000 It. Lire= $0.811)
Appendix 6.
TREND OF BALANCE-SHEETS OF THE PARTY AND OF T.A.S.S. S.p.A.
FROM 1989 TO 1992 AND ESTIMATE TO 28 FEBRUARY 1993 (in thousands of dollars)
1989 1990 1991 1992 1993(28 Feb.)
PARTY -2,002 - 367 + 483 - 844 -1,169
-1,423(*)
T.A.S.S. S.p.A. + 892 + 537 +1,474 + 673 + 511
-2,534 + 170 +1,957 - 171 - 658
TREND OF BALANCED YEAR-END FINANCIAL REQUIREMENTS FROM
1989 TO 1992 AND ESTIMATE TO 28 FEBRUARY 1993 (in thousands of dollars)
1989 1990 1991 1992 1993(28 Feb.)
PARTY -2,697 252 - 556 -1,753 -2,077
T.A.S.S. S.p.A. -1,066 -1,112 - 1,241 -1,781 -1,943
Totals -3,763 - 860 - 1,797 -3,534 -4,020
In this appendix a comparison is made of the results of balance-sheets of the Party and of Torre Argentina S.S.(**) from 1989 to 1993 with the actual balanced financial requirement over the same period, this latter figure being determined according to the criteria explained in appendix 4.
As regards financial requirements, the present situation is similar to that which occurred at the time of the Budapest Congress of 1989. Back then, to ward of bankruptcy, a decision was taken to suspend party activity. Then, unlike now, the party could look forward to the following year's state contributions to political parties.
** The fixed monthly costs shown here apply to the month of December 1992. Note: the accounts and balance sheet of the Radical Party are drawn up in Italian lira. Purely for reference purposes, without setting a precedent, equivalents are given in dollars. The exchange rate used is the 1992 average (1.000 It. Lire= $0.811)
ANNUAL (MONTHLY)**
APPENDIX 7
Breakdown of all Party expenditure (obtained from the profit and loss accounts of the Party and of T.A.S.S. s.p.a.*) relating to the annual balance-sheet from 1 January to 31 December 1992. (in U.S. dollars)
ANNUAL (MONTHLY)**
FIXED EXPENSES
IN ROME
At the Rome central office 25 full-time employees are paid for working in the secretary's office and in the direct production of the newspaper (currently 10 people), at the data processing unit of the membership office (6 people), in administration (3 people), in reception and at the switchboard (4 people), in logistics (2 people);
557,687.97 (46,474.00)
General expenses for services at central office:
- telephone bills are especially high, above all because of our transnational activities;
223,214.72 (18,601.23)
- leasing payments for equipment necessary for carrying out party activities;
129,353.88 (10,779.50)
- outside consulting, either permanent or on a temporary basis, for accounting, legal advice, organization of archives and assistance for software use;
67,294.17 (5,607.85)
- rent, maintenance expenses and heating for the warehouse and guest-rooms; electricity, gas, water; repairs; cleaning; insurance; technical assistance; forms and headed paper, stationery, passive rent; management and maintenance of machines; transport; printers; travel; translation; miscellaneous; postal and courier services; adverts in telephone directories; set-aside severance pay; miscellaneous and others; printing for membership (forms and post office payment slips; membership card mailing; membership card printing);
518,977.76 (43,248.15)
- interest (on mortgage, on current accounts, for late payment, passive, commercial, for financing); charges (bank); miscellaneous (rounding off, deductible and non-deductible taxes and levies)
293,466.60 (24,455.55)
TOTAL ROME FIXED EXPENSES 1,797,294.90 (149,774.51)
IN OTHER COUNTRIES
Fixed monthly expenses for activities in other countries are made up of remuneration for political collaborators who work on a fixed basis outside Italy, currently nine people;
262,812.05 (21,901.00)
In order to carry out its activities the party has set up offices in some of the countries where it operates, equipped with the essentials (computer, photocopier, fax and telephone and data transfer lines) and in some cases provided with personnel assigned to translations, expedition of correspondence and management of address lists of members and supporters.
BUDAPEST
The Budapest office, open since 1989, was set up as a veritable coordination centre for Party activities in Eastern Europe and the Balkans. However, growth of the party above all in the former Soviet Union, in Romania and in Bulgaria, thanks particularly to a thick core of parliamentarians who joined the party, and party commitment in Croatia, have brought about a need for a permanent presence in these countries, thereby reducing the coordinating role of the Budapest office, not just on a political level, but also on a technical and organizational one. In any event, the Budapest office ensures political activities in Bulgaria, Romania and in Poland. Fixed expenses at the Budapest office are for a staff of two people, a secretary and a computer operator, (11,493.60); rent (25,619.89); management of address lists (2,187.42); transport and travel (15,066.50); electricity, gas, water (1,166.94); management and maintenance of machines (2,205.05); furniture and equipment (1,954.43); postal and courier services (38
,486.92); cleaning (1,426.30); lodging (819.74); forms and stationery (515.50); telephone (15,012.70); translations (664.92); miscellaneous (1,783.69)
118,403.59 (9,866.97)
MOSCOW, BAKU, KIEV, ST. PETERSBURG
In the ex Soviet Union four offices are operative (Moscow, Kiev, St. Petersburg and, since July, Baku) whose paid employees number in total 10 people. 4 professional translators are also employed on a permanent basis (22,411.03); rent (21,939.63); address list management (1,838.56); transport and travel (40,858.78); electricity, gas, water (0.49); maintenance and management of machines (3,086.36); furnishings and equipment (3,538.00); postal and courier services (1,882.450; cleaning (69.93); lodging (58,760.51); forms and stationery (5,152.23); telephone (6,709.32); translation (8,429.45); miscellaneous (6,554.665)
181,231.44 (15,092.82)
SOFIA
Fixed expenses at the office in Sofia, Bulgaria, open since June, consist of one person who carries out the tasks of secretary-translator (1,392.15); rent (2,287.799); transport and travel (3,591.38); electricity, gas, water (43.95); maintenance and management of machines (120.91); furnishings and equipment (2,028.71); postal and courier services (10.674; cleaning (108.28); lodging (1,929.69); forms and stationery (319.83); telephone (2,164.15); translation (715.72); miscellaneous (394.13)
15,107.36 (2,158.19)
BUCHAREST
The office of Bucharest, in Romania, is the reference point for initiatives in Moldavia, Serbia, Kosovo, Macedonia; fixed expenses consist of payment of two people who look after secretarial work and translation (1,501.74); rent (4,046.46); transport and travel (7,154.17); electricity, gas, water (70.06); maintenance and management of machines (577.61); furnishings and equipment (1,957.66); postal and courier services (72.90); cleaning (21.00); lodging (4,187.04); forms and stationery (139.37); telephone (433.83); translation (249.46); miscellaneous (1,587.22)
21,998.51 (1,833.21)
WARSAW
Since October an office has been open in Warsaw, Poland, whose fixed expenses are made up of rent (1,098.83); transport and travel (874.02); furnishings and equipment (139.68); lodging (1,425.83); forms and stationery (28.12); telephone (402.45); translation (821.62); miscellaneous (212.58)
5,003.13 (1,667.71)
ZAGREB
In Zagreb, Croatia, to consolidate party presence following the prestigious enrolment of influential members of the Croat government and parliament after the Federal Council meeting held in November last year, an office was opened in which essential services are maintained by two secretaries and a translator (12,673.58); rent (19,914.70); transport and travel (6,932.44); electricity, gas, water (191.91); maintenance and management of machines (2,334.21); furnishings and equipment (5,187.31); postal and courier services (3,476.17); cleaning (195.33); lodging (3,072.46); forms and stationery (2,205.27); telephone (6,585.05); translation (1,881.57); miscellaneous (1,386.20)
66,036.19 (5,503.02)
PRAGUE
Expenses for the office in Prague are the following: services of a secretary, a translator, a computer operator (8,766.56); rent (3,862.20); transport and travel (10,073.97); maintenance and management of machines (100.83); furnishings and equipment (332.46); postal and courier services (6,434.39); cleaning (191.49); lodging (812.41); forms and stationery (1,602.89); telephone (10,735.89); translation (2,067.47); miscellaneous (1,495.18)
46,475.72 (3,872.98)
OUAGADOUGOU
In August, after a twelve month stay in Rome, Basile Guissou returned to Burkina Faso to organize the political activities of the Radical Party in Africa. The Radical Party office in Ouagadougou, Burkina Faso, has been provided with essential hardware (computer, fax, photocopier); expenses are for transport and travel (4,790.66); maintenance and management of machines (36.50); furnishings and equipment (5,430.28); postal and courier services (1,665.44); forms and stationery (27.37); telephone (2,518.77); miscellaneous (375.61)
14,844.62 (3,711.16)
TOTAL FIXED EXPENSES
IN OTHER COUNTRIES 731,912.61 (65,607.05)
FIXED EXPENSES
in Rome 1,797,294.09 (149,774.51)
in other countries 731,912.61 (65,607.05)
TOTAL FIXED EXPENSES 2,529,206.69 (215,381.56)
VARIABLE EXPENSES
CONGRESS
Expenditure on organizing the Italian Congress 9/12 January 1992
120,155.72
For holding the XXXVI Congress-1st session, 30 April/3 May 1992, simultaneous translation in seven languages on 3 sites (congress hall and two commissions); roughly 700 delegates, 250 of whom were guests from outside Italy
558,485.04
For holding the XXXVI congress-2nd session, 4/8 February 1993, simultaneous translation in seven languages on 3 sites (congress hall and two commissions); estimated no. of delegates 1,200, 600 of whom from outside Italy
1,054,300.00
FEDERAL COUNCIL
In 1992 there was just one meeting held at the end of the first session of the XXXVI Congress, which did not incur supplementary costs. Today the new composition of the Federal Council (350 members, around 180 from outside Italy) entails costs that are only just below those of Congress.
SECRETARIAT
meetings, seminars (24,882.50); travel, lodging, transport (36,811.38); other (2,919.52);
64,613.40
DEMONSTRATIONS, INITIATIVES, MEETINGS AND SEMINARS
ALBANIA
For meetings and start-up costs
2,661.81
TIBET
Demonstration in Rome (25 January) for human, civil and political rights in Tibet on the occasion of the visit of Chinese Premier Li Peng, organized by the Italian government - participation of Tibetan exponents from several European countries and the USA
13,241.39
CUBA
Letters for request to sign appeal for democracy in Cuba
268.44
EX USSR
January: conference in Moscow with Emma Bonino; demonstration on ex Yugoslavia in Moscow; February: conferences in Riga and Kiev; demonstration on ex Yugoslavia in Moscow and Kiev; March: conference in Dontesk; initiatives against the death penalty in Ukraine; April: meetings in Kiev, Riga, Tallin, Vilnius, Moscow, Piter; initiatives against the law on parties in Russia; May: initiatives of deputies of the ex USSR for the presentation of motions denouncing Serb aggression and against the death penalty; meeting in Moscow; June: conference in Baku and meetings in Riga, Tallin, Vilnius; demonstrations in Kiev against the death penalty; July: conference in Moscow with Sergio Stanzani; conferences in Riga, Tallin, Vilnius; meeting in Moscow of the organization of members of ex Russia; demonstrations in Kiev, St. Petersburg and Moscow for democracy in Cuba; August: meetings in Moldavia; four day meeting in Moscow of 45 deputies and 45 members about the new statute, federalism and nationality, associations and self
-financing; September: October: November: December:
32,058.59
BUCHAREST
Assembly in July
1,507.28
EX YUGOSLAVIA
for the organization and holding of meetings and conferences in Serbia, Bosnia, Macedonia, Kosovo.
2,460.98
EX CZECHOSLOVAKIA
Assembly in Prague (August) with Taradash; various demonstrations in Prague and Bratislava (against the death penalty, for democracy in Cuba, against Serb aggression)
2,811.22
AFRICA
Ouagadougou seminar on Radical Party initiatives and on democracy in Africa
27,142.65
LIA
Federative pact with LIA (international antiprohibitionist league) drawn up on the occasion of the first session of the XXXVI Congress
107,457.50
MEMBERSHIP CAMPAIGN 1992
Print ads for the '92 membership campaign on the occasion of the Italian general elections
122,315.37
Membership campaign '92
21,305.79
ITALY
coordination committee for Italian members (meetings and travel)
2,616.34
PRELIMINARY WORK FOR THE 2nd SESSION OF THE XXXVI CONGRESS
Preparatory commission for the second session of Congress on the subject "nationality and federalism" (meetings and travel)
3,504.32
Preparatory commission for the second session of Congress on the statute (meetings and travel)
4,226.90
ESPERANTO
Initiatives for the right to language and to an international language (demonstrations, forms, mailing, adverts in newspapers of the Esperantist movement, participation at international Conferences)
26,204.30
DEATH PENALTY
Various initiatives on the world campaign for the abolition of the death penalty by the year 2000
10,721.39
ROME
various demonstrations
3,985.82
"THE NEW PARTY" PROJECT
Four issues of "THE NEW PARTY" newspaper and one newsletter were printed in 1991. In 1992 three issues of "THE NEW PARTY" were printed, along with: three special issues of the Radical Newsletter on the occasion of the opening of the first session of the XXXVI Party Congress, one issue of the Radical Newsletter after Congress (July); a leaflet for the opening of the second session of the XXXVI Congress. Issue 1 contained a four page supplement of versions in Czech and Russian; issue four contained a four page supplement in Esperanto; issue 7 contained a reply-card and a questionnaire; the leaflet contained a reply-card/questionnaire. The totals are: 158 pages, 553 standard Italian pages, 2,104,225 copies, 437,771 of which were mailed to parliamentarians, 1,351,943 to other addresses and 319,551 set aside for distribution by activists; the newspaper was sent to 113 countries and 276 destinations. Total outlay was $2,112,094.70, of which 1,158,675.70 came under the 1991 financial year and 953,419.00 under 199
2. These expenses are entered to the sum of $537,381.84 in the 1990-1991 balance sheet, $576,175.51 under the entry contingent spending on the 1992 balance-sheet; invoices for $299,186.93 have yet to arrive; invoices have been settled for expenses concerning purchase of fonts; magazines and newspapers; travel and lodging; miscellaneous expenses; adhesives; photographic material; proofing; printing and mailing; translation; printing and mailing of the Radical Newsletter, expenses incurred in Brussels; Zagreb; Rome; Bucharest; Budapest; acquisition of address lists
699,350.43
TOTAL VARIABLE EXPENSES 2,878,765.31
AGORA' AND THE MONITORING CENTRE FOR TV AND RADIO NEWS BROADCASTS
Peripheral, but nonetheless extremely important for Party activities, are: Agorà and the Monitoring Centre for TV and radio news broadcasts.
AGORA'
The Agorà telecommunications centre was founded as a multi-language database (the majority of documents are translated into English, Spanish, French and German), with public access by phone and computer from within Italy and abroad. The Agorà archives include most written material produced by the Radical Party between 1955 and the present day, as well as documents and material on the many subjects covered by Radical initiatives in recent years. Via a computer and telephone link, Agorà also provides space for continuous conferences on various subjects, coordinated by a moderator. At the present moment around twenty such conferences are underway on various topics. The Agorà system also enables telecommunications contact to be made between subscribers, thereby providing a true electronic mailing system. This feature has proved to be particularly useful for setting up those international links necessary for the Party to remain in touch with its offices in other countries. The Agorà project envisaged self-financ
ing through sales of services to third parties: however, due to the specificness of its product, aimed mainly at computer users and those interested in politics, there has not been sufficient marketing to ensure adequate sales of contracts and agreements. Average monthly costs for 1993 are estimated at $25,000. 1992 costs were made up of technical assistance (13,846.02), stationery (4,548.63), leasing payments (9,737.27), postal services (1,667.98), advertising (4,468.61), bundling networks (16,830.52), telephone (14,252.34), miscellaneous (113.05), travel (3,864.50), consulting (195,102.08)
264,431.00 (22,035.92)
MONITORING CENTRE FOR TV AND RADIO NEWS BROADCASTS
The Monitoring Centre for TV and radio news broadcasts, organized and run by Valeria Ferro, is, like Radio Radicale, an example of a public service that came about through choices made by the Radical Party. All Italian institutions, from the President's office to the government and parliament, have made use of the Monitoring Centre's services. There has also been constant demand for information and data by parties, individual politicians, and above all by individuals employed in the news media. Indeed, the comprehensiveness and speed with which the Monitoring Centre supplies data and the results of analysis of TV and radio news broadcasts by both public and private companies make it quite unique. The way the Centre carries out its activities is not just due to the technical and organizational skills of its management: above all, it derives from a political will and a mindful commitment to ensuring a monitoring facility essential to a democracy. Despite the fact that for many years now, parliament has often d
eliberated to this effect, none of these initiatives have become operational. It is this purposeful lack of monitoring by the country's institutions of TV and radio news broadcasting that made the Monitoring Centre necessary, although it requires great technical, organizational and financial resources. Today the Monitoring Centre is self-financing, thanks to the sale of services to privately-owned broadcasting companies, to a lesser degree to the written press, and occasionally as a result of contracts with political parties. Average monthly costs for 1993 are estimated at $24,000. 1992 costs are made up of: rent, electricity, telephone (92,276.83), equipment hire (3,736.41), consulting (131,776.33)
227,789.58 (18,982.47)
EXPENSES FOR AGORA' AND MONITORING CENTRE 492,220.58 (41,018.38)
CONTINGENCY EXPENDITURE FOR 1991
Maastricht e Strasbourg
on 9 and 10 December, demonstration against the "Shame of the European Community"»Comunità europea della vergogna , in favour of recognition of Slovenia, Croatia and admission of representatives from Kosovo to The Hague, for the cutting of diplomatic links with Belgrade.
11,408.25
Croatia
to organize and carry out the Radical Party's nonviolent direct action for democracy, peace, freedom, with the Croat defenders of Osijek. On 28 December, Emma Bonino, Chairwoman of the Radical Party, met with a number of representatives of the opposition in Belgrade, in particular Dragoslav Micunovic, a deputy and chairman of the "Democratic Party".»Partito Democratico On 30 December, Marco Pannella and Italian members of parliament Roberto Cicciomessere, Lorenzo Strik Lievers, Alessandro Tessari and Radical activists Lucio Bertè, Olivier Dupuis, Renato Fiorelli e Sandro Ottoni, arrived in Osijek.
42,859.40
ITALY
initiatives for regional elections
48,252.24
THE NEW PARTY PROJECT
printing, mailing, translation
576,175.51
REFERENDA
222,031.03
FROM PREVIOUS FINANCIAL YEARS
49,120.37
TOTAL CONTINGENCY EXPENDITURE 949,846.80
SUMMARY
TOTAL FIXED EXPENSES 2,529,206.69 (215,381.56)
TOTAL VARIABLE EXPENSES 2,878,765.31 (239,897.11)
EXPENDITURE ON AGORA' AND
MONITORING CENTRE 492,220.58 (41,018.38)
TOTAL CONTINGENCY EXPENSES 949,846.80
6,850,039.39
Note: the accounts and balance sheet of the Radical Party are drawn up in Italian lira. Purely for reference purposes, without setting a precedent, equivalents are given in dollars. The exchange rate used is the 1992 average (1.000 It. Lire= $0.811)
(*) The 1991 financial requirement includes both the loan for buying the offices (870 million lire) ($705,570), and the amount estimated for the referendum campaign (352 million lire, $285,472) for '91.
(**) Only includes 352 million lire ($285,.472) of the amount for the referendum that was part of the difference in the 1992 balance-sheet. The difference with respect to the estimated requirement is, to the sum of 318 million lire ($257,.898) due to the uncollectability of the credits for the allowance of parliamentarians.
(***)The annual expenditure is made up to the sum of 3.725 million lire (3.020.975 $) of expenditure by the party, excluding the two sessions of Congress which are entered separately, and to the sum of 1.982 million lire (1.607.402 $) of expenditure by T.A.S.S. Expenses relating to the party differ from that entered in the profit and loss account as follows: items not requiring financial disbursement (183 million lire - $148,413- of write-offs, 318 million lire ($257,898) of money set aside for credit risks, 42 million lire ($34,062) of uncollectable credits).
(*) Credit of the party towards the Centro di Produzione, the company that owns Radical Radio and which at the time was to all intents and purposes insolvent.
(**) T.A.S.S. S.p.A. is the company that owns the Party's offices. It was set up with funds allocated by the Radical Party, and manages the business activities of the Centre for Monitoring news broadcasts and of Agorà.
