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8/3/2019 Financial Plan - 2012
1/78
W+Ke Vnhi Ke
>
0 He|ipkep(w Wigpi}npan} >
7 Geevipn}a|i Ijvceqiiw Gejjawwaek 0= Vpe|akganc Vy`cag Wip|agi Gejjawwaek 7
9 Gbail Wigpi}npq(w Wigpi}npan} =
< Vpe|akganc ]pinwypq 9
8 Vpe|akganc Vcnkkakh Wigpi}npan} 6
>6 Miv}+ el Pi|ikyi >>
>> Miv}+ el Vpe|akganc Ak}ipknc Nyma} >0
>0 >7
>7 J%Nhpagyc}ypi >=>= Miv}+ el Nhpagyc}ypi >9 Miv}+ el NV,B 0=
>< Miv} + el Appahn}aek 01
>8 Miv}+ el Cnkm Nmjakaw}pn}aek 7>
>2 J%Imygn}aek 71 Miv}+ el Imygn}aek =7
06 Miv}+ el Wvep}w =1
0> J%Binc}b 9=
00 Miv}+ el Binc}b Wip|agiw 99
07 Miv}+ el Akmahikeyw Jimagaki
0= J%Aklpnw}pyg}ypi Mi|icevjik}
8/3/2019 Financial Plan - 2012
2/78
Pigyppik} Gnva}nc ]e}nc
Irvikma}ypi Irvikma}ypi Irvikma}ypi
=66 He|ipkep(w Wigpi}npan} 9=#066#666 90#666#666 >6 Ge*evipn}a|i Ijvceqiiw Gejjawwaek 7#772#666 966#666 7#272#666=60 Vpe|akganc Vy`cag Wip|agi Gejjawwaek >0#008#666 966#666 >0#808#666
=06 Gbail Wigpi}npq(w Wigpi}npan} >=##666#666 >9# Vpe|akganc ]pinwypq 82=#161#666 798#166#666 >#>=0#261#666
=00 Vpe|akganc Vcnkkakh Wigpi}npan} 7>#10=#666 092##68#966#666 77#866#666
=7> Mivnp}jik} el Nhpagyc}ypi 17#666#666 76#28#798#666 7=#896#666 000#>68#666
=7= Mivnp}jik} el Cnkm Nmjakaw}pn}aek 99#662#666 966#666 99#962#666
==6 Jakaw}pq el Imygn}aek# Gyc}ypnc Nllnapw , Wvep}w >>6#096#666 >0 Mivnp}jik} el Imygn}aek 9#679#8#966#666 =#666 966#666 >2#89>#666
=9> Mivnp}jik} el Binc}b 0#> Mivnp}jik} el Cegnc He|ipkjik} 209#797#666 >67#666
=80 Mivnp}jik} el Ge*evipn}a|i 160#666 0#896#666 12#290#666
=87 Mivnp}jik} el Akmyw}paiw =2#>02#666 >9#666#666 02#666
=8= Mivnp}jik} el Weganc Wip|agiw 072#966#666 0>#896#666 0#896#666 #096#666
=8< Mivnp}jik} el Pypnc Mi|icevjik} 9=#766#666 >#896#666 96#702#829#666 0#69=#666#666 >0#720#829#666
LAKNKGANC VCNK * 06>0
WYJJNPQ
Binm Jakaw}pq % Mivnp}jik}
8/3/2019 Financial Plan - 2012
3/78
Vipweknc
ijecyjik}w
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pigyppik}
irvikma}ypi
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0
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byjnk ,
Akw}a}y}aekncpiweypgi lep
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G@H * 90+66 90+66 0
08+89 0
8/3/2019 Financial Plan - 2012
4/78
Laknkganc Vcnk 06>0
Binm4 =6> * Ge*evipn}a|i Ijvceqiiw Gejjawwaek# Kep}bipk Vpe|akgi
Vpehpnjji Ke 4 7
Vped
ig}OPN
Akvy} ak Jk
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WPN }e
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gek}pa`y}i
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ey}vy}w akgpinwim
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de` wigypa}q elgeevipn}a|i
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migawaekw%mapig}aekw }exnpmwpimpiwwiw jnmi
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ik|apekjik} ak
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iw}n`cawbim
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8/3/2019 Financial Plan - 2012
5/78
Oiq Piwyc}
Npin
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8/3/2019 Financial Plan - 2012
6/78
Vipweknc
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pigyppik}
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0
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wyw}nakim+
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ijvceqiiw nkm
vy`cag n}}ikmim
>+66
8/3/2019 Financial Plan - 2012
7/78
VipwekncIjecyjik}w
E}bipPigyppik}
Irvikma}ypi
]e}ncWeypgiel Lykm
CaoicqGek}akyn}aek
lpej 06>>
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0
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byjnk Piweypgiw el
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wqw}ij
2+181 7+=78 >0+=>< * * * Wncnpaiw vnam }e 0= w}nll
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wip|agi mica|ipq
wqw}ij `q 0= w}nll aw
wyw}nakim
>
0Je`acatn}aek el
laknkganc Piweypgi* 6+716 6+716 * * * *
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wig}epw el kep}bipk
vpe|akgi
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0
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* * * G@H * =6+66 =6+66
* * * G@H * 96+66 96+66
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]e}nc 98+926 82=+161 * 798+16 798+16
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W}pikh}bikakh }bi
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mi|icevjik}
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g}Oiq Ey}vy} Akmagn}ep
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0
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8 gejvy}ip xa}b
nggiwwepaiw# vpak}ip nkm
lypka}ypi npi vypgbim# 0=
w}nll }e `i }pnakim
>
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el }bi w}nll `q >6)#
@i}}ip Wip|agi
mica|ipq `q 9)
* >+>66
8/3/2019 Financial Plan - 2012
8/78
Vipweknc
Ijecyjik}w
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Pigyppik}
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wyw}nakim+
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ak }bi
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Ajvcijik}im kewel ak}ihpn}im
mi|icevjik}
vpedig}w
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]e}nc 07+006
8/3/2019 Financial Plan - 2012
9/78
Vipweknc
Ijecyjik}w
E}bip
Pigyppik}
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=
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wyw}nakim+
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0
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Oiq Ey}vy}
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Vpehpnjji Ke 4*7
Vpedig}
Binm 4*=00 * Vcnkkakh Wigpi}npan} "GAPJ!
OPN
Akvy} ak Jk
8/3/2019 Financial Plan - 2012
10/78
Binm4*
Vpehpnjji Ke4* 7 Hikipnc Nmjakaw}pn}aek , Laknkgi
Vipweknc
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el Wip|agi mica|ipq
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vnam }e 7= w}nll
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mica|ipq
wqw}ij `q 7=
w}nll awwyw}nakim
>
Ajvpe|akh byjnk
nkm akw}a}y}aeknc
piweypgiw lep
wip|agi mica|ipq
=+89 =+89 G@H 9+96 9+96
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ii gapgya}
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8/3/2019 Financial Plan - 2012
11/78
Vipweknc
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6+>2 6+>2
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mica|ipqikbnkgim myi
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]e}nc >7+96 >7+=7 0
8/3/2019 Financial Plan - 2012
12/78
Vipweknc
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0
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Gnva}nc
>+1
8/3/2019 Financial Plan - 2012
13/78
Vipweknc
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aw wyw}nakim +
=
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nyma}akh+
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* 6+966 6+966
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gcaik}w
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Gek}pa`y}i
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Ey}geji
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8/3/2019 Financial Plan - 2012
15/78
Vipweknc
ijecyjik}w
E}bipPigyppik}
Irvikma}ypi
]e}ncWeypgi el
Lykm
Caoicqgek}akyn}aek
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piweypgi wip|agi
mica|ipq wqw}ij
1+86
7+Ajvpe|akh
nggiwwa`aca}q }e
piweypgiw
* VWMH 7+66 7+66
>66
lnjacaiw he}
lawbakh ki}w
, hinpw
Lawbipjik
ajvpe|i }biap
lngaca}aiw }e me
lawbakh+
9
=+Ajvpe|ijik} el
wip|agi mica|ipq* VWMH 6+96 6+96
066
lawbipjik
}pnakim+
766 kix
lnjacaiw
je`acatim
}exnpmw
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akmyw}pq+
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=
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Vpehpnjji 4* 7
0
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Akvy}w
Oiq ey}vy}Akmagn}ep Oiq ey}gejiAkmagn}ep
Pigyppik} "Pw! Gnva}nc "Pw!
8/3/2019 Financial Plan - 2012
16/78
9+Gnvnga}q `yacmakh
lep ajvcijik}n}aek
Gnvnga}q yacmakh lep
ajvcijik}n}aek
VWMH 2+66 2+66
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7
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ak }bi
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nkm
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}bi Dnllkn
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7
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# Irigy}a|i
}n`ci ,
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8+96
0
8/3/2019 Financial Plan - 2012
17/78
Binm4 =7> Mivnp}jik} el Nhpagyc}ypi
Vpehpnjji467# Vpe|akganc Nmjakaw}pn}aek
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k
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ak 06>0
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wqw}ij
2+66 6+=6 2+=6
Vipweknc
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xipi vnam }e 07
w}nllw+
Wip|agi
mica|ipq
wqw}ij `q 07
w}nllw
wyw}nakim
Pi ng}a|n}akh
nkm
Irvikmakh
wip|agiw nkm
lngaca}aiw
60+ Ajvpe|i
akw}a}y}aknc
piweypgiw lep
illig}a|i
wip|agi
mica|ipq
>++0
Hikipnc
Nmjakaw}pn}
aek ,
laknkgi
Vpedig} OPN
Pigyppik}
Gek}pa`y}aek
}e WPN
Oiq Ey}vy}
Akmagn}ep
Oiq Ey}geji
Akmagn}ep
Akvy} ak Jk
Gnva}nc
VWMH
8/3/2019 Financial Plan - 2012
18/78
Vipweknc
Ijecyjik
}w
E}bip
Pigyppik}
Irvikma}ypi
]e}ncWeypgi el
Lykm
Caoicq
Gek}akyn}ae
k
lepj 06>>
Vpevewim
Kix Xepow
ak 06>0
]e}nc
Vpedig} OPN
Pigyppik}
Gek}pa`y}aek
}e WPN
Oiq Ey}vy}
Akmagn}ep
Oiq Ey}geji
Akmagn}ep
Akvy} ak Jk
Gnva}nc
VWMH
67+ Vpemyg}aek
nkm
vpemyg}a|a}q
ikbnkgijik}
>+66 >+66
W}nll
vpemyg}a|a}q
pihycnpcq
jeka}epim ak 69
maw}pag}w nkm
nwwaw}im ak akvy}
nppnkhijik}#nww
aw}im ak
i|ncyn}aek ,
ajvpe|ijik}
?W}nll
viplepjnkgi el020 w}nll
xepoakh ak }bi
69 maw}pag}+
Wygiiwlyc
ajvcijik}n}ae
k el ir}ikwaek
vpehpnjji
Mi|ievjik}
el byjnk
gnvnga}q
2+66 7+66 >>+66 6+96 6+96]e}nc
8/3/2019 Financial Plan - 2012
19/78
Binm4 =70 Mivnp}jik} el Nkajnc Vpemyg}aek nkm Binc}b
Vpehpnjji4 7# Vpe|akganc Nmjakaw}pn}aek
Vipweknc
ijecyjik}w
E}bip
pigyppik}
Irvikma}ypi ]e}nc
Weypgi el
Lykm
Caoicq
gek}akyn}ak
lpej 06>>
Vpevewim
kix xepow
ak 06>0 ]e}nc
Wyw}nakakh }bi Byjnk piweypgi
el wip|agi mica|ipq wqw}ij0>#7>1#666 926#666 0>#211#666
Jnmi wncnpq nkm e}bip vnqjik}w
}e >6#666 >>6#666
9 NM(w ellagi nkm VM(w ellagi
`yacmakh jnak}iknkgi ng}a|a}aiw
xipi gnppaim ey}+
Wn}awlng}epq ca|akh gekma}aekw
nkm xepoakh ik|apekjik} npi
vpe|amim }e ellagi w}nllw+ 0
G@H 18=#666 18=#666
Vpegypijik} = Kew el Cnv}ev#6>
Ke+el Cnwip Geceyp Vpak}ip#60
Kew+ el Cnwip Vpak}ip# 60Kew+ el]n`ci Lnk# 69Kew+ el Gejvy}ip
}n`ci# 69Kew+ el Gejvy}ip Gbnap#
6>Ke+ el Geklipikgi }n`ci# 09 Kew+
el Geklipikgi peej gbnap# 6=Kew+
el Irigy}a|i ]n`ci , 6=Kew+
Irigy}a|i Gbnap
Ykak}ippyv}im nkm illagaik}
xepoakh ik|apekjik} ak
ellagiw+
0
109#666 109#666
96) kiim el \ibagci# Vcnk} nkm
jngbakipq npi jnak}nakim+]ajicq wip|agi Mica|ipq q
ellagipw0
>#076#666 >#076#666
>66) kiimw el lyic #Icig}pagnc
Heemw , w}n}aekipaiw vypgbnwim+
]ajicq wip|agi Mica|ipq q
ellagipw 0
G@H 799#666 >#>99#666
Ak}ipki} gekkig}aekw lep 9 nmjak+
Yka}w npi Vpe|amim+nkm e}bip
gek}png}ync wip|agiw
0
0>#7>1#666 =#666#666 09#7>1#666 >#6>6#666 >#6>6#666
Oiq Piwyc} NpinVpedig}
Vpehpnjji ]e}nc
Akw}a}y}aeknc nkm aklpnw}pyg}ypi
mi|icevjik} lep wip|agi
mica|ipq
Pigyppik} "Pw+! Gnva}nc "Pw+!
Akvy}
0
Laknkgakh Vcnk * 06>0
Oiq Ey}geji Akmagn}epOiq ey}vy} Akmagn}ep
Wipanc Ke+
el WPN }e
xbagb OPN
Gek}pa`y}i
Pimyg}aek el gejjykagn}aek
micnqw , irgbnkhakh
megyjik}w }ajicq
8/3/2019 Financial Plan - 2012
20/78
Binm4 =70 Mivnp}jik} el Nkajnc Vpemyg}aek nkm Binc}b
Vpehpnjji4 =9 Ca|iw}ego Mi|icevjik}
Vipweknc
ijecyjik}w
E}bip
pigyppik}
Irvikma}ypi
]e}ncWeypgi el
Lykm
Caoicq
gek}akyn}ak
lpej 06>>
Vpevewim
kix xepow
ak 06>0
]e}nc
Wyw}nakakh }bi Byjnk piweypgi
el wip|agi mica|ipq wqw}ij#666#666 >#669#666 ellagipw
Byjnk Piweypgi el Wip|agi
Mica|ipq wqw}ij aw wyw}nakim=
VWMH 0#966#666 0#966#666
@yacmakh irvnkwaek xepow npi
meki ak 69\i}ipaknpq ellagi
`yacmakhw+
Gekmyga|i xepoakh
ik|apekjik} gpin}im ak
ellagiw lep ajvcijik}akh
mallipik} mi|icevjik}
vpedig}w
0
VWMH 7#066#666 7#066#666
Jnak}iknkgi xepow nkm jakep
pivnapw npi meki ak >6\i}ipaknpq
ellagi yacmakhw+
Gekmyga|i xepoakh
ik|apekjik} ak \i}ipaknpq
ellagiw+
0
VWMH 0#966#666 0#966#666
W}nll ~ynp}ipw lngaca}aiw ajvpe|im
}e ikwypi vpiwik}w el }igbkagnc
w}nllw lep i}}ip lnpj jnknhijik}
Pimygim mawinwim akgamik}w
`q 96) nkm akgpinwim
vpemyg}aek el MEG `q 06)
0
VWMH 7#666#666 7#666#666Gejvci}aek el > NM(w ellagi
`yacmakhw
Wn}awlng}epq ca|akh gekma}aekw
nkm gekmyga|i xepoakh
ik|apekjik} npi vpe|amim }e
ellagi w}nll
0
Vpegypijik} el 6= Kew+ el
Gejvy}ip
>> Kew+ el ]n`ci Lnk67 Kew el Gejvy}ip ]n`ci
67 Kew el Gejvy}ip Gbnap
6= Kew el W}iicGn`aki}
67 Kew el Pilpahipn}epw
69Kew+ El Ellagi gbnap
69Kew+ El Ellagi }n`ci
>##0
Wipanc Ke+
el WPN }e
xbagb OPN
Gek}pa`y}i
876#666
Oiq Ey}geji Akmagn}ep
0
Gekmyga|i nkm Binc}bq
xepoakh ik|apekjik} xacc
akgpinwi wip|agi mica|ipq
wqw}ij ak pnkhi ellagiw
8/3/2019 Financial Plan - 2012
21/78
>#=66#666 >#=66#666
>66) kiim el w}n}aekipaiw # lyic ,
icig}pagnc heemw }e \i}ipaknpq
ellagiw xipi wyvvcaimGemyga|i xepoakh
ik|apekjik}0
G@H >6#666 >6#666
Vpe|amim Kix ]icivbeki
Gekkig}aek }e 6> Ke+ \i}ipaknpq
Wyphiek( ellagi
>##66 |ancw ">66#666
mewiw!
KGM* 066 |ancw "066#666 mewiw!
A@M *966 |ancw "966#666 mewiw!
26#666 26#666
>6 lnpjip ]pnakakh vpehpnjw
gekmyg}im lnpjipw+ ep 766 lnpjipw
e`}nakim okexcimhi ek Ca|iw}ego
Jnknhijik}
Cinpkim }igbka~yiw xipi
nvvcaim q ikilaganpaiw ak
Ca|iw}ego Vpemyg}aek
>
VWMH >#666#666 >#666#666066Kew+ el Wbi hen}w awwyim "xa}b
96) Wy`wamq!
Lnjacq akgeji vip
`ikilaganpq akgpinwim q
Pw+0666 vip jek}b xa}bak 66 lnjacaiw+
>
VWMH
8/3/2019 Financial Plan - 2012
22/78
VWMH 0#666#666 0#666#666>06 Hen} wbimw Ajvpe|im "96)
Wy`wamq!
Vpi|ik}akh
Ak`pinmakh%mawinwi
akgamik}w%min}bw myi }e
nm|ipwi ik|apekjik}#
akgpinwim hiki}ag ve}ik}anc }e
akgpinwim jin} Vpemyg}aek
vip qinp `q 76) lpej wicig}im
lnpjw
>
VWMH 0#666#666 0#666#666>66 gn}}ci vnmmegow ajvpe|im
"96) wy`wamq!
Lngaca}n}akh }e nmev} i}}ip
bipm jnknhijik} wqw}ij akcnphi bipmw }e ajvpe|i
akgeji |an vpemyg}aek el
jaco# jin}# nkm jnkypi q
96) ak >66 wicig}im lnpjw+
>
VWMH 966#666 966#666Wyvvep}akh >6CA@GEw }e akgpinwi
nmjakaw}pn}aek gnvnga}q+
Jnknhijik} Gnvnga}q el }bi
CA@GEw ajvpe|im }e
ajvcijik} Ca|iw}ego
mi|icevjik} Vpedig}w
>
VWMH 966#666 966#666
Wyvvep}akh >6 \i}ipaknpq ellagiw
}e akgpinwi nmjakaw}pn}aek
gnvnga}q+
Ajvpe|i }bi mn}n
jnknhijik} wqw}ij nkm
gpin}akh n gekmyga|i xepoakh
ik|apekjik} n} \i}ipaknpqellagiw
>
VWMH 896#666 896#666Wyvvcq el >66 Kew+ el W}ym hen}w
}e lnpjipw "96 ) wy`wamq!
>6#666 oamw vpemygim ak cnphi
hen} lnpjw xa}b 96) bahbip
vpemyg}a|a}q "lep jin} ,
Jaco! ak 0qinpw+
>
*
VWMH >#966#666 >#966#666Wyvvcq el >66 Kew+ el W}ym @yccw
}e lnpjipw+"96 ) wy`wamq
0966 gnc|iw vpemygim ak cnphi
bipmw xa}b 96) bahbip
vpemyg}a|a}q
"lep jaco nkm jin}! ak 0 qinpw>
=66#666 =66#666 Liim }e 61Kew+ NA Gik}pi(w nkajncAkgpinwim Vpemyg}aek el ML
Wijnk>
#666#666
8/3/2019 Financial Plan - 2012
23/78
Binm4 =70*Mivnp}jik} el Nkajnc Vpemyg}aek nkm Binc}b
Vpehpnjji 49>
Vpevewim
kix xepow
ak 06>0 ]e}nc
Wyw}nakakh }bi byjnk piweypgi
el wip|agi mica|ipq wqw}ij>#98>#666 >0#066 >#927#066
Vnqjik} el Wncnpq }e 8 ellagipw Byjnk Piweypgi Mica|ipqWqw}ij aw wyw}nakim =
>66 ) kiimw el w}n}aekipaiw# lyic
nkm icig}pagnc heemw vypgbnwim+Gekmyga|i xepoakh
ik|apekjik}
W}pikh}bikim nkm jnak}iknkgi el
pihaeknc ellagi yacmakhw+Gekmyga|i xepoakh
ik|apekjik}
96 ) \ibagci#Vcnk}# nkm
jngbaknpaiw npi jnak}nakimGekmyga|i xepoakh
ik|apekjik}
Ajvpe|im \i}ipaknpq Ir}ikwaek
wip|agiw8=#666
>6 lnpjip ]pnakakh vpehpnjwgekmyg}im lnpjipw+ ep 766 lnpjipw
e`}nakim okexcimhi ek Ca|iw}ego
Jnknhijik}
Cinpkim }igbka~yiw xipi
nvvcaim q ikilaganpaiw ak
Ca|iw}ego Vpemyg}aek
>
>#98>#666 966#666 0#68>#666
Vpedig} Oiq Piwyc} Npin
Akvy}
Pigyppik} "Pw+! Gnva}nc "Pw+!Oiq Ey}geji Akmagn}ep
Wipanc Ke+
el WPN }e
xbagb OPN
Gek}pa`y}i
Laknkgakh Vcnk * 06>0
Vpehpnjji ]e}nc
Akw}a}y}aeknc , Aklpnw}pyg}ypi
mi|icevjik}0=>7#266
Oiq ey}vy} Akmagn}ep
7
8/3/2019 Financial Plan - 2012
24/78
4* =7
Oiq Piwyc} Npin VipwekncIjecyjik}w
E}bipPigyppik}
Irvikma}ypi
]e}nc Weypgiel Lykm
CaoicqGek}akyn}aek
lpej 06>6
Vpevewim KixXepow ak 06>>
]e}nc
Wyw}nakakh }bi
byjnk piweypgiw
el wip|agi mica|ipq
wqw}ij
>66#298#666 09#196#666 >0
Vpemyg}a|a}q
ikbnkgijik}* >8#666#666 >8#666#666 * * * *
Evipn}aeknc ng}a|a}aiw el
9= Jndep % Jimayj Appahn}aek
Wgbijiw#
7= Wnc} Xn}ip Irgcywaek Wgbijiw#
7 Cnheek Wgbijiw nkm
\ncyonapny Mpnaknhi Wgbiji
npi gnppaim ey}+
Wn}awlng}epq Appahn}aek# Wnc}
Xn}ip Irgcywaek nkm Mpnaknhi
lngaca}aiw npi vpe|amim }e 11#=6>
ngpiw el vnmmq cnkmw+
>
Jnak}iknkgi ng}a|a}aiw el
9= Jndep % Jimayj Appahn}aek
Wgbijiw#
7= Wnc} Xn}ip Irgcywaek Wgbijiw#
7 Cnheek Wgbijiw nkm
\ncyonapny Mpnaknhi Wgbiji
Wn}awlng}epq Appahn}aek# Wnc}
Xn}ip Irgcywaek nkm Mpnaknhi
lngaca}aiw npi vpe|amim }e 11#=6>
ngpiw el vnmmq cnkmw+
Jnak}iknkgi ng}a|a}aiw el 26 `yacmakhw
npi gnppaim ey}+
Wn}awlng}epq ca|akh gekma}aekw
nkm gekmyga|i xepoakh
ik|apekjik} npi vpe|amim }e }bi
= w}nll+
Pivnapw nkm jnak}iknkgi el >9
\ibagciw# Vcnk}# Jngbakipaiw nkm
I~yavjik} npi gnppaim ey}+
Ykak}ippyv}im wip|agiw }e
lnpjipw# illagaikgq nkm cekh
mypn`aca}q el }biwi nwwi}w npi
ikwypim+
*
Oiq Ey}vy} Akmagn}ep Oiq Ey}geji Akmagn}ep
*
0
>
Gnva}nc
Mi|icevjik} el
Vbqwagnc nwwi}w* =7#996#666 =7#996#666 *
Wipanc Ke+
el WPN }e
xbagb OPNGek}pa`y}i
Pigyppik}
*
Laknkganc Vcnk * 06>0
Binm
Vpehpnjji Ke
Vpedig}
Akvy} Pw+
4* =77 * Appahn}aek Mivnp}jik}# Kep}bipk Vpe|akgi
8/3/2019 Financial Plan - 2012
25/78
Oiq Piwyc} NpinVipweknc
Ijecyjik}w
E}bip
Pigyppik}
Irvikma}ypi
]e}ncWeypgi
el Lykm
Caoicq
Gek}akyn}aek
lpej 06>6
Vpevewim Kix
Xepow ak 06>>]e}nc
Oiq Ey}vy} Akmagn}ep Oiq Ey}geji Akmagn}ep
Gnva}ncWipanc Ke+
el WPN }e
xbagb OPN
Gek}pa`y}i
Pigyppik}
Vpedig}
Akvy} Pw+
0Gnvnga}q @yacmakh
lep Ajvcijik}n}aek* * * G@H * >#896#666 >#896#666
7 Kew Gejvy}ip Wi}
9 Kew Vpak}ip
>6 Kew Gejvy}ip }n`ci
>> Kew Gejvy}ip Gbnap
>> Kew Ncjqpn "w}iic, hcww!
> Ke Irgy}a|i }n`ciw xa}b gbnap
7 Kew Vbe}egevaip w}nkm
9 Kew Vcnw}ag gbnap
7 Kew Xn}ip Lac}ip
< Kew W}iic mpnxip gn aki}w
< Kew Ellagi Gbnap
0 Kew Laci pngo
0 Kew Iragy}a|i ]n`ci xa}b gbnap
> Kew Lnr Jngbaki
7 Kew Vimnw}nc Lnk
> Ke Jyc}ajiman vpedig}ep
> Ke Geklipikgi }n`ci
0< Kew Npj gbnapw
> Ke Wgnkkip
>9 Kew Ellagi ]n`cixa}b hcnww"=(R0(!
7 Kew Xba}i `enpm
>8 Kew Gbnapw
6> Ke Vimiw}nc lnk
Kigiwwnpq lypka}ypi nkm
i~yavjik}w npi vpe|amim }e
ikn`ci }bi w}nll }e viplepj }biap
lykg}aekw xa}b akgpinwim
illig}a|ikiww nkm illagaikgq q
>6)+
7
Ajvpe|akh Byjnk
nkm Akw}a}y}aeknc
Piweypgiw lep
wip|agi mica|ipq
* * * VWMH * 77#666#666 77#666#666
1 Jndep% Jimayj Appahn}aek Wgbijiw
npi ajvpe|im }e lykg}aek n} }biap
wn}awlng}epq evipn}aeknc ci|ic+
Wnli}q el }bi Appahn}aek Wgbijiw
npi ikwypim nkm ajvpe|im
appahn}aek lngaca}aiw npi vpe|amim
}e >1#7=8ngpiw el vnmmq cnkmw+
0
>66#298#666 228#798#666 * * 7=#896#666 7=#896#666]e}nc
8/3/2019 Financial Plan - 2012
26/78
Binm 4* =77 * Mivnp}jik} el Cnkm Nmjakaw}pn}aek
Vpehpnjji 4* =6 Cnkm Nmjakaw}pn}aek , mi|icevjik}
Vipwekic
Ijecyjik}w
E}bip
Pigyppik}
Irvikma}ypi
]e}nc
Weypgi
el
Lykm
Caoicq
Gek}akyn}
aek lpej
06>>
Vpevewim
Kix xepo
ak 06>0
]e}nc
>+Akw}a}y}aeknc
Mi|icevjik} lep
wip|agi mica|ipq
=6#7=0+6 >#89
Cnv}ev
Lngaca}q
vpe|amim }e =9
ellagi w}nll lep
`i}}ip wip|agi
mica|ipq
Mi|icevjik} el
byjnk gnvnga}q
"WPN=!
a+ Ncaikn}im
0666
ncce}jik}w lep
cnkm ciww
vinwnk}w+
Vpevip}q
exkipwbav
ha|ik }e 0666
cnkmciww
vinwnk}w+
]nphi}akh n}
\yckipn`ci
hpeyvw "WPN 9!
aa+ >666
Nkkync
Vipja}w
gek|ip}im ak}e
CME vipja}w+
]ijvepnpq
exkipwbav el
cnkm ha|ik }e
>666
vinwnk}w+
aaa+ Mi|ec|im
vipja}w
%Hpnk}w }e
>666 cihnc
wyggiwwepw+
Vpevip}q pahb}
el >666 cihnc
wyggiwwepw
hpnk}im ak
piwvig} el
cnkmw ncpinmq
ncaikn}im+
* * *
Cnkm
Nmjakaw
}pn}aek0+ Ikwypakh
jakajyj cnkm
kiimlyc el
|yckipn`ci
hpeyv
796+66 796+66*
Wipanc Ke el WPN
}e xbagb OPN
gek}p`y}i
Pigyppik} "Pw+666!
Laknkganc Vcnk * 06>0
Oiq Ey}geji
Akmagn}ep
Oiq Ey}vy}
Akmagn}ep
Gnva}nc "Pw+666!
Vpedig} Oiq Piwyc} Npin
Akvy}w
8/3/2019 Financial Plan - 2012
27/78
a|+ Piwi}}cim
>666 AMVW%
]wyknja
|ag}ajw ak
}biap Epahaknc
ncce}jik}w+
Vpevip}q pahb}w
el >666 AMVW %
]wyknja
\ag}ajw
piw}epim+
|+ Picegn}im
>666 cnkmciww
AMVW nkm
]wyknja
\ag}ajw+
Vpevip}qexkipwbav
ha|ik }e >666
cnkmciww AMVW
% ]wyknja
\ag}ajw+
7+ Vpe}ig}aek el
ykncaikn}im
w}n}i cnkmw
* 0
8/3/2019 Financial Plan - 2012
28/78
Binm 4* =77 * Mivnp}jik} el Cnkm Nmjakaw}pn}aek
Vpehpnjji 4* =6 Cnkm Nmjakaw}pn}aek , mi|icevjik}
Vipwekic
Ijecyjik}w
E}bip
Pigyppik}
Irvikma}ypi
]e}nc
Weypgi
el
Lykm
Caoicq
Gek}akyn}
aek lpej
06>>
Vpevewim
Kix xepo
ak 06>0
]e}nc
a+ Nyg}aekim
>66 ncce}jik}w
Pi|ikyi el
KVG pnawim `q
9 }e >6Jk+
aa+ Cinwim 96
vnpgicw el
w}n}i cnkm
96 yvvip akgeji
nkm cexip akgeji
hpeyv vipwek
vpe|amim cnkm lep
ak|iw}jik}+
aaa+ \iw}im >6
vnpgicw el cnkm
ak cegnc
`emaiw+
>6 cegnc `emaiw
vpe|amim w}n}i
cnkm lep
mi|icevjik}
vypvewiw+
a|+ Picinwim >6
Vnpgicw el cnkm
}e He|}
mivnp}jik}w+
>6 He|}
mivnp}jik}w
vpe|amim w}n}i
cnkm lep
mi|icevjik}
vypvewiw+
|+ Awwyim >6
Ey} Pahb}
Hpnk}+
Exkipwbav el cnkm
ha|ik }e >6 ciwwiiw
ak piwvig} el cnkm
ncpinmq cinwim }e
}bij lep
Piwamik}anc
vypvewi+
|a+ Awwyim 096
Wviganc Hpnk}
Exkipwbav el cnkm
ha|ik }e 096
picegn}im ]wyknja
\ag}ajw+
716+6 716+6
Laknkganc Vcnk * 06>0
*
Ping}a|n}akh
nkm irvnkmakh
wip|agi ,
lngaca}aiw
* *
Cnkm
Nmjakaw
}pn}aek
=+ Wqw}ijn}ag
mi|icevjik} el
w}n}i cnkm
* 716+6 716+6
Vpedig} Oiq Piwyc} Npin
Akvy}w
Oiq Ey}vy}
Akmagn}ep
Oiq Ey}geji
Akmagn}ep
Wipanc Ke el WPN
}e xbagb OPN
gek}p`y}i
Pigyppik}"Pw!666 Gnva}nc "Pw!666
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Binm 4* =77 * Mivnp}jik} el Cnkm Nmjakaw}pn}aek
Vpehpnjji 4* =6 Cnkm Nmjakaw}pn}aek , mi|icevjik}
Vipwekic
Ijecyjik}w
E}bip
Pigyppik}
Irvikma}ypi
]e}nc
Weypgi
el
Lykm
Caoicq
Gek}akyn}
aek lpej
06>>
Vpevewim
Kix xepo
ak 06>0
]e}nc
9+ Irvnkmakh
Wip|agi mica|ipq+* 089+6 089+6 * * *
Pige|ipim Pw
=66#666
Pi|ikyi el }bi
KVG akgpinwim
`q Pw+ =66#666
Ping}a|n}akh
nkm irvnkmakh
wip|agi ,
lngaca}aiw
"WPN 0!
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Binm 4* =77 * Mivnp}jik} el Cnkm Nmjakaw}pn}aek
Vpehpnjji 4* =6 Cnkm Nmjakaw}pn}aek , mi|icevjik}
Vipwekic
Ijecyjik}w
E}bip
Pigyppik}
Irvikma}ypi
]e}nc
Weypgi
el
Lykm
Caoicq
Gek}akyn}
aek lpej
06>>
Vpevewim
Kix xepo
ak 06>0
]e}nc
8+ Wyw}nakakh
}bi byjnk
piweypgiw el
wip|agi mica|ipq
wqw}ij
>6#666 6#27 w}nll
Byjnk
Piweypgi el
wip|agi mica|ipq
wqw}ij q >27
ellagipw awwyw}nakim
Piw}epakh }bi
ca|icabeem
WPN >
a!Wi}}cim >66
cnkm picn}im
awwyiw
Vpi|ik}im 066
CME ncce}}iiw
lpej wiioakh
cihnc pijimq }e
wi}}ci }biap
cnkm picn}im
awwyiw+
aa! Awwyim 0666
Pnk`iijn
Hpnk} ak
piwvig} el
mi|icevim CME
ncce}jik}w+
Exkipwbav el
cnkm ha|ik }e
0666 CME
naae}}iiw
>6#666 >#086 >>#086
* *
Ping}a|n}akh
nkm irvnkmakh
wip|agiw ,lngaca}aiw
Cnkm
Nmjakaw
}pn}aek
62+Nmjakaw}pn}a
ek nkm
Jnknhijik} elwi}}cijik}
wgbijiw
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Binm Ke4 ==6 * Jakaw}pq el Imygn}aek#Gyc}ypnc Nllnapw ,Wvep}wVpehpnjji Ke4 7 Vpe|akganc Nmjakaw}pn}aekVpedig}4 0 * Hikipnc Nmjakaw}pn}aek , Laknkgi
VipwekncIjecyjik}w E}bip pigyppik}Irvikma}ypi ]e}nc Weypgi elLykmCaoicqgek}akyn}aeklpej 06>>
Vpevewimkix xepowak 06>0 ]e}nc
> Teknc Ellagi yacmakh
jna}nakim
>+ ]bi cali el |igbacgiw npi
ir}ikmim
0+ Viplepjnkgi nkm cali el }bi
jngbaikipq , i~yavjik}
7+ >#1#1 2#17> *
Vnam nccexnkgi }e >26
Yka|ipwa}q ykmip hpn}yn}i
W}ymi}w
W}ymi}kw je}a|n}im ak }biap
Ykmip Hpn}yn}i W}ymq
* >8#9=9 >8#9=9 * * ** G@H 7#666 7#666
@yacmakh , W}pyg}ypi Illagikgq el evipnaekw aw
akgpinwim
* G@H >#896 >#896
Lypkaypi , Ellagi i~yavjik} Illagikgq el evipnaekw aw
akgpinwim
* * * * =#896 =#896>2#966 7=#966 * * =#896 =#896
Wy` ]e}ncHpnkm ]e}nc
0
0
0
Wyw}nakakh Byjnk
piweypgi ak }bi
Wip|agi Mica|ipq
Wqw}ij
W}pikh}bkakhhe|ipknkgi
W}pikh}bkakh
he|ipknkgi
Wy` ]e}nc
Wy` ]e}nc
Gnva}nc
Laknkganc Vcnk*06>0
Vpe dig} Oiq Piwyc } Npin
Akvy}w "Pw #666!
Oiq Ey}vy} Akmagn}ep Oiq Ey}geji Akmagn}epWipanc Keel WPN }exbagb OPNgek}pa`y}i
Pigyppik}
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Binm Ke4 ==6 * Jakaw}pq el Imygn}aek#Gyc}ypnc Nllnapw ,Wvep}wVpehpnjji Ke4 1 Byjnk Piweypgiw Jnknhijik}Vpedig}4 7# Jnknhijik} Mi|icevjik} , ]pnakakh "W]IVW!
VipwekncIjecyjik}w E}bip pigyppik}Irvikma}ypi ]e}nc Weypgi elLykmCaoicqgek}akyn}aeklpej 06>>
Vpevewimkix xepowak 06>0 ]e}nc
>#990 >#990 * * *
6< ellagipw vnam xa}b wncnpq ,
Nccexnkgi
]ingbipw# Vpakganvcw#
Jnknhijik} Nwwaw}nk}w lyclacc}biap iw}n`cawbjik} kiimw
*
Ak}ipiw} ek vpevip} cenk }e
ellagipw npi vnam
Ellagipw npi je}a|n}im
* >#60> >#60> * * *
>+ Becamnq xnppik}w awwyim }e< ellagipw
0+ < Ellagipw vnp}agavn}im ak
}bi }pnakakh gekmyg}im q
H]T+
Viplepjnkgi el }bi ellagipw npije}a|n}im
>#990 >#60> 0#987 * * ** 09 09 * * *
Jii}akhw n} W]IVW W]IVW Akw}a}y}i ng}a |a}iw npi
i|ncyn}im
* >76 >76 * * *
>+ Jngbakipq , i~yavjik}w
npi jnak}iakim
0+ Ellagi yacmakh jna}nakim
>+ Viplepjnkgi nkm cali el }bi
jngbaikipq , i~yavjik}
0+ He|ipkjik} Ellagipw pigia|im`i}}ip wip|agi
* 706 706 * * *
@nwag pi~yapijik}w lep
geppiwvekmnkgi , }pnkwvep}
vpe|amim
Wjee}b lykkg}akh el }bi ellagi aw
gip}alaim
* 901 901 *
Akvy}w lep i}}ip ellagi
Jnknhijik} vpe|amim
illagikgq el }bi ellagi
jnknhijik} wqw}ij akgpinwim
* >#66= >#66= * * *>#990 0#609 7#988 * * * *
Laknkganc Vcnk*06>0
Vpe dig } Oiq Piwyc } Npin
Akvy}w "Pw #666!
Oiq Ey}vy} Akmagn}ep Oiq Ey}geji Akmagn}epWipanc Keel WPN }exbagbOPNgek}pa`y}i
Pigyppik} Gnva}nc
Hpnkm ]e}nc
7
Wyw}nakakh Byjnk
piweypgi ak }biWip|agi Mica|ipq
Wqw}ij
Wy` ]e}nc
7W}pikh}bkakh
he|ipknkgi
Wy` ]e}nc
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Binm Ke4 ==6 * Jakaw}pq el Imygn}aek#Gyc}ypnc Nllnapw ,Wvep}wVpehpnjji Ke4 26 * Vpajnpq Imygn}aekVpedig}4 = * Inpcq Gbacmbeem
VipwekncIjecyjik}wE}bipPigyppik}Irvikma}ypi ]e}nc
Weypgi elLykmCaoicqgek}akyn}aeklpej 06>>
Vpevewimkix xepowak 06>0 ]e}nc
>#666 >#666 * * *
>+ Vipweknc Ijeycjik}w xipi
vnam }e 69 ellagipw0+ 77 Ma|awaeknc Geepmakn}epw
vnam xa}b nccexnkgi
7+ 266 wgbeecw vnam hpnk}
>+ Byjnk piweypwiw gnvnga}q aw
wyw}nakim0+ Viplepjnkgi el }bi ellagiw nkm
wgbeecw npi ici|n}im
7+ Illagaikgq el vpi*wgbeec npi
ic|n}im
* 91#0>6 91#0>6 * * *
>+ Becamnq xnppik}w awwyim }e
69 ellagipw
0+ >6 xepowbev gekmygn}im
7+ Ira`a}aek nkm gejvi}a}aek
wvep}w ng}a|a}q gnjvw
gekmygn}im
>+ Viplepjnkgi el }bi ellagipw npi
je}a|n}im
0+ Vpi*wgbeec }ingbipw viplepjim
xicc
7+ Gbacmpikw irba`a}i }bi n`aca}q ak
becaw}ag mi|icevjik}
>#666 91#0>6 6 * * *
* >96 >96 * * *
Jii}akhw n} Jakaw}pq el Inpcq
Gbacmbeem Mi|icevjik} ,
Mekepw n}}ikmim
Vpe|akganc ng}a|a}aiw npi i|ncyn}im
* 76 76 * * *
>+ > |ibagci xipi jnak}nakim
0+ jngbakipq , i~yavjik}w
npi jnak}iakim
>+ ]bi cali el |igbacgiw npi
ir}ikmim
0+ Viplepjnkgi nkm cali el }bi
jngbaikipq , i~yavjik}
* >62 >62 * * *
@nwag pi~yapijik}w lep
geppiwvekmnkgi , }pnkwvep}
vpe|amim
Wjee}b lykkg}akh el }bi ellagi aw
gip}alaim
* 960 960 *Akvy}w lep i}}ip ellagiJnknhijik} vpe|amim
Illagikgq el }bi ellagijnknhijik} wqw}ij akgpinwim
* 816 816 * * *>#666 0
Vpedig} Oiq Piwyc}Npin
Akvy}w "Pw #666!
Oiq Ey}vy} Akmagn}ep Oiq Ey}geji Akmagn}epWipanc Keel WPN }exbagb OPNgek}pa`y}i
Pigyppik} Gnva}nc
Hpnkm ]e}nc
=
Wyw}nakakh
Byjnk
piweypgi ak }bi
Wip|agi
Mica|ipq
Wqw}ij
Wy` ]e}nc
=W}pikh}bkakh
he|ipknkgi
Wy` ]e}nc
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Vipweknc
Ijecyjik}w
E}bip
Pigyppik}
Irvikma}ypi
]e}ncWeypgi
el Lykm
Caoicq
gek}akyn
}aek
lpej
06>>
Vpevewim
Kix xepow
ak 06>0
]e}nc
>+Wyw}nakakh
}bi byjnk
piweypgi el
wip|agiw
mica|ipq
8#966 8#966
>+Vpe|amim
wncnpq lep 77
ellagipw
>+> Byjnk piweygiw el
Wip|agi mica|ipq wqw}ij
el 77 ellagipw aw
wyw}nakim
0+Pigehakatakh
}bi
ca}ipnpq nkm
gpin}a|i
np}a}ww
79 np}aw}w
e|ip ]bi wegai}q
pigehkatim
}bi wip|agi el }biwi >9
Np}aw}w nkm }biap
irvipaikgi
aw vpevnhn}im }e }bi
qeykh
Np}aw}w
7+> >66 `eeow
vypgbiwim
7+> Pinmipw pigia|im
>666
~ynca}q `eeow lep }biappinmakh
7+0 >6 ny}bepw
npi nxnpmim
7+0 e}bip ny}bepw npi
je}a|n}im
Laknkganc Vcnk *06>0
Binm 4 ==6 * Jakaw}pq el Imygn}aek# Gyc}ypnc Nllnapw
Vpehpnjji Ke4* 7* Picahaeyw , Gyc}ypnc Nllnapw
Vpedi
g}
7+Ikgeyppnnhi
qeykh
ca}ipnpq nkm
gpin}a|i
np}aw}w
766 766
Wipanc Ke elWPN }e
xbagb OPN
gek}pa`y}i
Oiq Piwyc}
Npin
Pigyppik} Gnva}nc
Akvy} "Pw 666!
Oiq Ey}vy}
Akmagn}ep
Oiq Ey}geji
Akmagn}ep
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Vipweknc
Ijecyjik}w
E}bip
Pigyppik}
Irvikma}ypi
]e}ncWeypgi
el Lykm
Caoicq
gek}akyn
}aek
lpej
06>>
Vpevewim
Kix xepow
ak 06>0
]e}nc
Vpedi
g}
Wipanc Ke el
WPN }e
xbagb OPN
gek}pa`y}i
Oiq Piwyc}
Npin
Pigyppik} Gnva}nc
Akvy} "Pw 666!
Oiq Ey}vy}
Akmagn}ep
Oiq Ey}geji
Akmagn}ep
7+7 69
Irba`a}aek ak
gekmig}im
pihaeknccq nkm
geccig}aek npi
vpiwip|im ak
Gyc}ypnc
gik}ipw+
7+7 Wegai}q cinpkim
n`ey}
}pnma}aeknc gpin}aek nkm
}bi
megyjik}w lpej 69
irba`a}aekw
=+Ikgeyppnhi}bi lnjeyw
np}aw}w =6 =6
Np}aw}w lpej 9maw}pag}w
gek}pa`y}iw n}
}bi Np} liw}a|nc
gpin}i ak}ipiw} n`ey}
}bi }pnma}aeknc np} el
}bi vpe|akgi
9+Gici`pn}akh
gyc}ypnc nkm
picahaeyw
liw}a|ncnkm
mawwajakn}aek
el gyc}ypnc
bipa}nhi#picahae
yw lna}b nkm
niw}bi}ag |ncyi
0#76> 0#76>
>+9 liw}a|ncw el
|npaeyw
picahaekw
gekmyg}im
0+mpnjn#leconp}w gekmyg}im
>+vievci el mallipik}
picahaekw ykmipw}nkm
n`ey} }bi e}bip
picahaekw nkm gyc}ypiw
"weganc
gebiwaek!0+vnpagavnk}wnpi ak|ec|im ak
ng~yapakh woaccw+
#666 >#666
wicig}im xpa}ipw
nkm viplepjakh
np}aw} npi
pigehkawim
`ilepi vy`cag
ikgeypnhi e}bip np}aw}w
}e hi} pigehka}aek
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Vipweknc
Ijecyjik}w
E}bip
Pigyppik}
Irvikma}ypi
]e}ncWeypgi
el Lykm
Caoicq
gek}akyn
}aek
lpej
06>>
Vpevewim
Kix xepow
ak 06>0
]e}nc
Vpedi
g}
Wipanc Ke el
WPN }e
xbagb OPN
gek}pa`y}i
Oiq Piwyc}
Npin
Pigyppik} Gnva}nc
Akvy} "Pw 666!
Oiq Ey}vy}
Akmagn}ep
Oiq Ey}geji
Akmagn}ep
w}pikh}biakakh
}bi gnvnga}q el
}bi ellagipw
>66 >66
77 gyc}ypncellagipw }pnakim
ak jemipk
ji}bemecehaiw
=6 ) akgpinwi ak }bi
viplejnkgi el ellagipw
>66 >66ji} akgamik}anc
irvikwiw
ak}ippyv}aek el }bi
ellagi wqw}ij pimygim
@i}}ip
wip|agiw lpej
}biwi
06 ellagipw
26) @i}}ipviplepjnkgi
el }biwi ellagipw
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Vipweknc
Ijecyjik}w
E}bip
Pigyppik}
Irvikma}ypi
]e}ncWeypgi
el Lykm
Caoicq
gek}akyn
}aek
lpej
06>>
Vpevewim
Kix xepow
ak 06>0
]e}nc
Vpedi
g}
Wipanc Ke el
WPN }e
xbagb OPN
gek}pa`y}i
Oiq Piwyc}
Npin
Pigyppik} Gnva}nc
Akvy} "Pw 666!
Oiq Ey}vy}
Akmagn}ep
Oiq Ey}geji
Akmagn}ep
VWMH 9#666 9#666
@yacmakh ,
w}pyg}ypi
illagikgq el
}bigyc}ypiyka}w ak MWellagi akgpinwim
8+ gek}png}ync
wip|agiw==9 ==9
`i}}ip
wyvvep}akh
wip|agiw lep }bi
ellagi
jnknhijik}
`i}}ip wip|agi mica|ipim
ijvceqiiw
2+ wyvvcaiw 29= 29=
ellagi aw
vpivnpim }e
mica|ip }bi
akvy}w xa}b
gejjykagn}aeklngaca}aiw
illagaikgq el }bi ellagi
akgpinwim
1+ jnak}nkikgi =09 =09
}bi ellagi
wyvvep} wqw}ij
aw jnak}nakim
}e akgpinwi }bi
illagikgq ak
xepoakh
ik|apekjik}
}bi illagikgq el
}biellagi wqw}ij
akgpinwim
]E]NC 8#966 >8#
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Vipweknc
Ijecyjik}w
E}bip pigyppik}
Irvikma}ypi]e}nc
Weypgi el
Lykm
Caoicq
gek}akyn}aek
lpej 06>>
Vpevewim kix
xepow ak 06>0]e}nc
2=8 Ak}ipknc I|ncyn}aek
Pivep}w vpivnpim
^ynca}q nwwypnkgi
iw}n`cawbim ak 2=8 Wgbeecw
766 Ir}ipknc I|ncyn}aek
Pivep}w vpivnpim
^ynca}q nwwypnkgi
iw}n`cawbim ak 2=8 wgbeecw+
0=6 TJV Pivep}w vpivnpim^ynca}q nwwypnkgi
iw}n`cawbim ak 2=8 wgbeecw+
0+ Wyw}nakakh
Byjnk piweypgi ak
}bi wqw}ij+
00
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Vipweknc
Ijecyjik}w
E}bip pigyppik}
Irvikma}ypi]e}nc
Weypgi el
Lykm
Caoicq
gek}akyn}aek
lpej 06>>
Vpevewim kix
xepow ak 06>0]e}nc
>+ Wyw}nakakhByjnk piweypgi ak
>#8>>#666#666 >#8>>#666#666 GL =901 ]ingbipw wip|im ak726 wgbeecw
11#729 W}ymik}w he}imygn}aek lngaca}aiw+
6 )0
7+ Ajvpe|ijik} el
wip|agi mica|ipq=#266#666 =#266#666 GL *
=89 wip|agi vngonhiw
mica|ipim
Ajvpe|im gyw}ejip
wn}aw}yn}aek0
= +]ingbip
Mi|icevjik}9#666#666 9#666#666 GL *
=901 ]ingbipw
vimnhehagnc woaccw yvmn}im
^ynca}q el }ingbakh i
ajvpe|im ak 288 wgbeecw q =
9+Ge gyppagycnp
ajvcijik}n}aek>0#666#666 >0#666#666 GL * 0=6 vpehpnjw gekmyg}im
11#729 w}ymik}(w bahbip
epmip woaccw mi|icevim+
11#729 w}ymik}(w ncnkgim
vipweknca}q mi|icevim
>
#666#666 =>#666#666 *
11#729 Gbacmpik pigia|im
imygn}aek
Ajvpe|im gehka}a|i
ngbai|ijik}0
02 Gejvi}a}aekw Gekmyg}im
0< Irba`a}aek Gekmyg}im
76 Gnjvw Gekmyg}im
VWMH 78#
Vpehpnjji Ke4 26
Vpedig} Wy` ]e}nc
11#729 w}ymik}w wel} woaccw
mi|icevim+
2+ Ajvpe|im
akw}a}y}aeknc
gnvnga}q la} lep
vpemyg}a|i wip|agi
mica|ipq
Vpajnpq
Imygn}aek
Akvy}w "Pw #666!
8+ W}ymik} `nwim
ng}a|a}iw
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Vipweknc Ijecyjik}wE}bip pigyppik}
Irvikma}ypi]e}nc
Weypgi el
Lykm
Caoicq
gek}akyn}aek
lpej 06>>
Vpevewim kix
xepow ak 06>0]e}nc
>+ Wyw}nakakh
Byjnk piweypgi ak
}bi wqw}ij+
0#266#666#666 166#666 0#266#166#666 GL>0#111 ]ingbipw wip|im ak
=#=6 )0
7+ Ajvpe|ijik} el
wip|agi mica|ipq>>#76>#666 >>#76>#666 GL *
=89 wip|agi vngonhiw
mica|ipim
Ajvpe|im gyw}ejip
wn}aw}ng}aek0
= +]ingbip
Mi|icevjik}02#961#666 02#961#666 GL *
>0#111 ]ingbipw
vimnhehagnc woaccw yvmn}im
^ynca}q el }ingbakh i
ajvpe|i ak 288 wgbeecw q =
9+Ge gyppagycnp
ajvcijik}n}aek066#666 GL
>0#111 W}nll vpe|amim xa}b
becamnq xnppnk}w
>0#111 w}nllw je}a|n}im
lep bahb ~ynca}q wip|agi
mica|ip
=
>6+Ajvpe|ijik} el
aklpnw}pyg}ypi lep
mica|ipq el wip|agiw
7>#2=6#666 7>#2=6#666 GL>09 Jnak}iknkgi ng}a|a}iw
viplepjim
9966 w}ymik}w pigia|im bahb
~ynca}q imygn}aek0
0#266#666#666 >
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Vipweknc Ijecyjik}w E}bip pigyppik}Irvikma}ypi ]e}nc Weypgi elLykm
Caoicq
gek}akyn}aeklpej 06>>
Vpevewim kixxepow ak 06>0 ]e}nc
>+ Wyw}nakakh
Byjnk piweypgi ak
}bi wqw}ij+
176#666 76#666 1602 maw`cim w}ymik}w he}
i~ync evvep}yka}q el
imygn}aek
602
w}ymik}w akgpinwim `q 8) +=
VWMH 7#666#666 7#666#666Wviganc Imygn}aek Yka}
iw}n`cawbim
* IWMV 9#666#666 9#666#666 I~yavjik}w wyvvcaim
9+ W}pikh}bkakhbahbepmip cinpkakh
ak Wgbeecw
266#666 266#666 GL 82 wgbeecw he} ~ynca}q akvy}wNgbai|ijik} ci|ic el >602
w}ymik}w akgpinwim `q 8) +0
06#666 >06#666 GL
wyvvcq el w}n}aeknpq# lyic
nkm e}bip vipawbn`ciw
^ynca}q el }ingbakh
ajvpe|im0
176#666 =#966#666 9#=76#666 2#666#666 2#666#666 *
7
0+Akgcywa|i
Imygn}aek
Wipanc Ke el WPN
}e xbagb OPN
gek}pa`y}i
Gnva}nc
Akvy}w "Pw #666!
Pigyppik}Oiq Ey}vy} Akmagn}ep Oiq Ey}geji Akmagn}epVpedig}
Akgcywa|i imygn}aek
w}pikh}bikim ak 82 wgbeecw
Binm Ke4==>
Vpehpnjji Ke428
9GL
WvigancImygn}aek
=+ Ajvpe|im
akw}a}y}aeknc
gnvnga}q la} lep
vpemyg}a|i wip|agi
Oiq Piwyc} Npin
Vpedig} Wy` ]e}nc
Wviganc
Imygn}aek966 }ingbipw }pnakim+
Cinpkakh ngbai|ijik}
ajvpe|im
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Vipweknc Ijecyjik}wE}bip pigyppik}
Irvikma}ypi]e}nc
Weypgi el
Lykm
Caoicq
gek}akyn}aek
lpej 06>>
Vpevewim kix
xepow ak 06>0]e}nc
>+ Wyw}nakakh
Byjnk piweypgi ak
}bi wqw}ij+
>#266#666 >#266#666 GL *Pi}nak 9 w}nllw ak }bi
imygn}aek wqw}ij
Jepi }bnk 8666 nmyc}w
pigia|im imygn}aek nkm de`
woaccw
9+ Ajvpe|im
akw}a}y}aeknc
gnvnga}q la} lep
vpemyg}a|i wip|agi
mica|ipq
IWMV 7#966#666 7#966#666\egn}aeknc }pnakakh
i~yavjik}w wyvvcaim
Jepi }bnk 8666 nmyc}w
pigia|im imygn}aek nkm de`
woaccw
7
66#666 >66#666 GL Wyvvcaim vpe|amim
28 Akw}pyg}epw pigiia|im
vpeliwwaeknc hyamikgi q
NMIw , AWNw
0
>#266#666 8#966#666 1#766#666 * * 7#966#666 7#966#666
Wyp|a|nc pn}i akgpinwim q
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Vipweknc Ijecyjik}wE}bip pigyppik}
Irvikma}ypi]e}nc
Weypgi el
Lykm
Caoicq
gek}akyn}aek
lpej 06>>
Vpevewim kix
xepow ak 06>0]e}nc
>+ Wyw}nakakh
Byjnk piweypgi ak
}bi wqw}ij+
=6 Vcnkw vpivnpim+Piweyigiw y}acatim
illagaik}cq+#666#666 >#666#666 GL >66 ellagipw }pnakim+
Gnvnga}q el >66 ellagipw
w}pikh}bikim+#666#666 GL
Vpevip IJAW jnak}nakim q
Vpe|akgi nkm Teki
Aklepjim migawaek jnoakh
gyc}ypi iw}n`cawbim>
Vpevewim Kix
Xepow ak 06>0]e}nc
=
>+!
Mi|icevjik}el
Wvep}w
Ng}a|a}aiw
0#801#966 0#801#966
>+>! Jeka}epakh
}bi Wvep}w
ng}a|a}aiw ak
9 maw}pag}w
akgcymakh
77 MW Ma|awaekw
, +0! ]e vpe|amiwwvep}w }pnakakh
jn}ipancw }e
9 Maw}pag}
]pnakakh Gik}ipw
,
77 Ma|awaeknc
]pnakakh Gik}ipw
>+7! He|ipkep
Nxnpm lep
Kn}aeknc Xakkipw
Vnp}agavn}aek ak
Wvep}w Ng}a|a}aiw
ikbnkgim
viplepjnkgi ak
Kn}aeknc Ci|ic
Ajvpe|im
Wvep}akh
Ik|apekjik} ak
pypnc npinw npi
hi}}akh bahb ci|ic
>
Oiq Ey}vy}Akmagn}ep Oiq Ey}gejiAkmagn}ep
Gek}pa`y}ae
k}e WPN
LAKNKGANC VCNK * 06>0
Akvy} ak Pw
Gnva}ncPigyppik}
Vpedig} OPN
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Binm*==0 Mivnp}jik} el Wvep}w
Vpehpnjji Ke* 16 Wvep}w nkm Pigpin}aek
Vipweknc
Ijecyjik}w
E}bip Pigyppik}
Irvikma}ypi]e}nc
Weypgi el
Lykm
CaoicqGek}akyn}aek
lpej 06>>
Vpevewim Kix
Xepow ak 06>0]e}nc
Oiq Ey}vy}Akmagn}ep Oiq Ey}gejiAkmagn}ep
Gek}pa`y}ae
k}e WPN
LAKNKGANC VCNK * 06>0
Akvy} ak Pw
Gnva}ncPigyppik}
Vpedig} OPN
0+! ]e gekmyg}
}bi Wvep}w
Ikwypi }bi
Vnp}agavnk} }e
vnp}agavn}i
vpevip
]eypknjik}w,
Gejvi}a}aekw
9#766#666 9#766#666
0+>! ]e gekmyg}
77 ma|awaeknc
Wvep}w Jii}w#
9 Maw}pag} Wvep}w
Jii}w , eki
Vpe|akganc Wvep}w
Liw}a|nc
0+0! ]e vpe|amiw
wvep}w
i~yavjik} lep
gejvi}a}epw
Nggiww el wvep}w
vnp}agavnk}w
akgpinwim
Wvep}w
I~yavjik} npi
y}acatim qgejvi}a}epw }e
ikgeypnhim }bi
wvep}w ng}a|a}aiw
0
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Binm*==0 Mivnp}jik} el Wvep}w
Vpehpnjji Ke* 16 Wvep}w nkm Pigpin}aek
Vipweknc
Ijecyjik}w
E}bip Pigyppik}
Irvikma}ypi]e}nc
Weypgi el
Lykm
CaoicqGek}akyn}aek
lpej 06>>
Vpevewim Kix
Xepow ak 06>0]e}nc
Oiq Ey}vy}Akmagn}ep Oiq Ey}gejiAkmagn}ep
Gek}pa`y}ae
k}e WPN
LAKNKGANC VCNK * 06>0
Akvy} ak Pw
Gnva}ncPigyppik}
Vpedig} OPN
7+! Wyw}nakakh
}bi byjnk
piweypgi el
wip|agi
mica|ipqwqw}ij
W}pikh}bikakh
he|ipknkgi
illagaikgq+
>1#006#966 006#966 >1#==>#666
7+>! Vnqjik} el
wncnpaiw lep 8=
ellagipw
7+0! Gpin}i n
ng}a|i ellagi
ny}ejn}aek
ik|apekjik}
7+7! e|ip}aji
nkm becamnq vnq
lep n`ey} 8=
ijvceqiiw#
vpevip}q cenk
Vpe|amakh
becamnq xnppnk}w
}e ncc ijvceqiiw
@i}}ip Wip|agi
mica|ipq ikwypim 7
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Binm*==0 Mivnp}jik} el Wvep}w
Vpehpnjji Ke* 16 Wvep}w nkm Pigpin}aek
Vipweknc
Ijecyjik}w
E}bip Pigyppik}
Irvikma}ypi]e}nc
Weypgi el
Lykm
CaoicqGek}akyn}aek
lpej 06>>
Vpevewim KixXepow ak 06>0
]e}ncOiq Ey}vy}Akmagn}ep Oiq Ey}gejiAkmagn}ep
Gek}pa`y}ae
k}e WPN
LAKNKGANC VCNK * 06>0
Akvy} ak Pw
Gnva}ncPigyppik}
Vpedig} OPN
=+!Ajvpe|akh
Evipn}aeknc#
Jnknhipanc
Illagaikgq nkm
Wvep}w Woaccw
099#666 099#666
=+>! Vpe|ami
wvep}w jn}ipancw
lep Wvep}w gcy`w
, Qey}b Gcy`w
=+>! Gekmyg} 09
Wvep}w Gengbakh
Gnjvw
=+0! Gekmyg} 02
gnppaip hyamnkgi
Vpehpnjji lep
ykijvceqjik}
Qey}bw
Jepi Hnjiw npi
vcnqim `q Qey}bw
]bi Gnvnga}q el
Qey}bw Akgpinwim
Jepi n|ikyiw el
ijvceqjik}
irvcemim
=
9+!Amik}alq ,
\ipalq }bi
}nphi}akh
hpeyvw }e
pigekw}pyg}
}biap Vbqwagnc, Jik}nc
Mi|icevjik}
096#666 096#666
9+>! Ephnkati
Wviganc
Vpehpnjjiw
xa}b vywbyv }bi
}nphi}akh hpeyvw
Viplepjnkgi ak
Wvep}w Ngbai|ipw
akgpinwim
Vcinwypi
ng}a|a}aiw jnoi
}bi Gejjyka}q
Binc}baip
9
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Binm*==0 Mivnp}jik} el Wvep}w
Vpehpnjji Ke* 16 Wvep}w nkm Pigpin}aek
Vipweknc
Ijecyjik}w
E}bip Pigyppik}
Irvikma}ypi]e}nc
Weypgi el
Lykm
CaoicqGek}akyn}aek
lpej 06>>
Vpevewim KixXepow ak 06>0
]e}ncOiq Ey}vy}Akmagn}ep Oiq Ey}gejiAkmagn}ep
Gek}pa`y}ae
k}e WPN
LAKNKGANC VCNK * 06>0
Akvy} ak Pw
Gnva}ncPigyppik}
Vpedig} OPN
#>19#666 >#>19#666
VWMH
G@H
>8#666#666
966#666
!
Gekw}pyg}aek el 9
\ecciq`ncc Geyp}w
,
> Akmeep Jyc}a
Wvep}w Gejvcir
86#966 >8#966#666
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Binm 4 =96 * J%Binc}b , AJ
Vpehpnjji 4 7
Vipweknc
Ijecyjik}w
E}bip
Pigyppik}
Irvikma}ypi
]e}ncWeypgi
el lykm
Caoicq
Gek}aky
n
}aek
lpej
06>>
Vpevewim
Kix Xepow
ak 06>0
]e}nc
8+818 8+818 79 W}nllw ijvceqim Wip|agiw el 79 w}nllw wyw}nakim =
7+19= 6+996 =+96= 79 w}nllw je}a|n}im }e ngbai|i }bi
}nwow
Ikwypim illig}a|i nmjakaw}pn}aek =
6+=66 6+=66 * 79 W}nllw lngaca}n}im Ikwypim 19 ) el gnmpi laccim lep
illig}a|i nmjakaw}pn}aek
=
>+666 >+666 G@H 6+>66 6+>66 6= Kew el |ibagciw jnak}nakim nkm
ak ywi
69 Pihaeknc akw}a}y}aekw wyvip|awim
nkm jeka}epim lep bahbip
viplepjnkgi+
09 Jek}bcq jii}akhw n}}ikmim }e
pihycn}i binc}b wip|agiw+
0
6+>66 6+>66 * 6> yacmakh oiv} ak heem gekma}aek Nwwi}w wyw}nakim 7
G@H 6+=66 6+=66 69 Ellagi Lypka}ypi , I~yavjik}
vpegyppim
Ikbnkgi gek}akyeyw wip|agiw }e }bi
vy`cag+
7
0+>89 0+>89 Vpe|amim wyvvcaiw nw w}n}aekipaiw#
ellagi pi~yawa}iw# lyic# cy`pagnk}w#
ykalepjw nkm gekwyjn`ciw
Ikbnkgi gek}akyeyw wip|agiw }e }bi
vy`cag+
7
>+289 >+289 6> ellagi vpe|amim xa}b wip|agiw
gek}png}w lep Y}aca}aiw+
Wip|agi mica|ipq wyw}nakim 7
6+=66 6+=66 * 68 Kew+el Ellagi I~yavjik} oiv}
ak heem gekma}aek
Ajvpe|i wip|agiw }e }bi vy`cag 7
>>+89> 2+09> * 6+966 6+966
>
HikipncNmjakaw}pn}aek,L
aknkgi
Byjnk Piweypgi
Mi|icevjik}
Mi|icevjik} el
Akw}a}y}aeknc
Gnvnga}q
LAKNKGANC VCNK * 06>0
Vpedig} OPN
Akvy}
Oiq Ey}vy} Akmagn}ep
Oiq Ey}geji Akmagn}ep Wipanc
Ke+el WPN
}e xbagb
OPN
gek}pa`y}i
Pigyppik} Gnva}nc
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Binm 4 =9> * VMBW#KV
Vpehpnjji 4 7
Vipweknc
Ijecyjik}w
E}bip
Pigyppik}
Irvikma}ypi
]e}ncWeypgi
el lykm
Caoicq
Gek}aky
n
}aek
lpej
06>>
Vpevewim
Kix Xepow
ak 06>0
]e}nc
1+8 6+9=6 9+ *=2 w}nllw vpe|amim nccexnkgiw
16) el }bi gyw}ejip wn}awlng}aek
pincatim
=
6++=76 * 6> ellagi vpe|amim xa}b
wip|agiw gek}png}w lep Y}aca}aiw+
Wip|agi mica|ipq wyw}nakim+ 0
BWMV 7+666 7+666 Wyp|iqw , pivep}w meki Ikwypim nwwaw}nkgi lep ly}ypi
mi|icevjik}+
0
* G@H 6+966 6+966 6> maha}nc myvcagn}ep jngbaki
vpegyppim
Xepo illagaikgq akgpinwim `q
>6)+
7
>=+166 8+966 00+=66 * 2+866 2+866
0
HikipncNmjakaw}pn}aek,L
aknkgi
OPNVpedig}
Gnva}nc
Byjnk Piweypgi
Mi|icevjik}
Mi|icevjik} el
Akw}a}y}aeknc
Gnvnga}q
LAKNKGANC VCNK * 06>0
Oiq Ey}geji Akmagn}ep
Wipanc
Ke+el WPN
}e xbagb
OPN
gek}pa`y}i
Akvy} Pw+(666
Oiq Ey}vy} Akmagn}ep
Pigyppik}
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Binm 4 =9>
Vpehpnjji 486
VipwekncIjecyjik}w
E}bip
Pigyppik}Irvikma}ypi
]e}nc Weypgiel lykm
Caoicq
Gek}akyn}aek lpej
06>>
Vpevewim
Kix Xepowak 06>0
]e}nc
89+666 * 89+666 *=01 W}nllw vpe|amim wncnpaiw
Wip|agiw el =01 w}nllw
wyw}nakim
=
=8+166 >8+166 * =01 w}nllw vpe|amim xa}b
wyvvcaiw nw w}n}aekipaiw# ellagi
pi~yawa}iw , jigbnkagnc nkm
jimagnc wyvvcaiw
Vpe|amim Lyic# nggejjemn}aek#
jincw lep je`acatim ellagipw
Xepon`ci ik|apekjik}
wyw}nakim
0
>>+266 >>+266 * 69 ellagiw vpe|amim xa}b
wip|agiw gek}png}w lep Y}aca}aiw+
Wip|agi mic a|ipq wyw}nakim 0
BWMV 0+666 0+666 Wyp|iqw , pivep}w meki Ikwypim nwwaw}nkgi lep
ly}ypi mi|icevjik}+
0
VWMH 9+666 9+666 6> PMBW Ellagiw Gekw}pyg}im %
Gejvci}im+
Nwwi}w piw}epim ak kixcq
pige|ipq npinw+
7
VWMH 7+666 7+666 6> gnk}iik lep Kypwiw ]pnakakh
Wgbeec gekw}pyg}im
Ajvpe|im byjnk piweypgi
mi|icevjik}
=
VWMH 0>+666 96+666 >8>+666 >>+666 8+096
Mi|icevjik} el Akw}a}y}aeknc
Gnvnga}q
=
HikipncBinc}bWip|agiw
LAKNKGANC VCNK * 06>0
Oiq Ey}vy} Akmagn}ep Oiq Ey}geji Akmagn}ep
Wipanc
Ke+el WPN
}e xbagb
OPN
gek}pa`y}i
Pigyppik}
Mi|icevjik} el Akw}a}y}aeknc
Gnvnga}q
=
HikipncBinc}bWip|agiw
Gnva}nc
OPN
Akvy}
Vpedig}
Byjnk Piweypgi
Mi|icevjik}
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>_VnhiwZ
Binm 4 =9>
Vpehpnjji 4 8>
Vipweknc
Ijecyjik}w
E}bip
Pigyppik}
Irvikma}ypi
]e}ncWeypgi
el lykm
CaoicqGek}akyn
}aek lpej
06>>
Vpevewim
Kix Xepow ak
06>0
]e}nc
7+666 1> kew+el bewva}ncw vpe|amim
xa}b wip|agiw gek}png}w lep
Y}aca}aiw+
19) vpejv} binc}b
wip|agiw }e }bi vy`cag
mica|ipim
0
1+966 1+966 VWMH 06+666 06+666 6> MJE# 6> KE nkm 6>
jamxa|iw ~ynp}ipw ,
`yacmakhw jnak}nakim %
pivnapim % pilyp`awbimvpevipcq nkm ak ywi+
Wyw}nakn`aca}q el nwwi}w 7
06+666 06+666 VWMH 0+666 0+666 Kew bewva}ncw Jimagnc
I~yavjik} jnak}nakim
Nwwi}w jnak}nakim ak
heem gekma}aek
7
VWMH 0>+666 0>+666 Kew bewva}ncw Jimagnc
I~yavjik} vypgbnwim+ ,
akw}nccn}aek }pnkwlepjnc ,
ak}ipknc xapakh
Ikwypim gek}akya}q el
wip|agiw+
LAKNKGANC VCNK * 06>0
Wipanc Ke+el
WPN }e
xbagb OPN
gek}pa`y}i
Oiq Ey}geji
Akmagn}ep
Pigyppik}
Vpedig}
Gnva}nc
Byjnk Piweypgi
Mi|icevjik}
OPN
Akvy}
Oiq Ey}vy} Akmagn}ep
9
Vn
}aik}GnpiWip|agiw"Gypn}a|i!
Ajvpe|ijik} elGypn}a|i Gnpi Wip|agiw
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0_VnhiwZ
Vipweknc
Ijecyjik}w
E}bip
Pigyppik}
Irvikma}ypi
]e}ncWeypgi
el lykm
Caoicq
Gek}akyn
}aek lpej
06>>
Vpevewim
Kix Xepow ak
06>0
]e}nc
Wipanc Ke+el
WPN }e
xbagb OPN
gek}pa`y}i
Oiq Ey}geji
Akmagn}ep
Pigyppik}
Vpedig}
Gnva}nc
OPN
Akvy}
Oiq Ey}vy} Akmagn}ep
VWMH > Jn}ipka}q
xnpm# 0 gekwyc}nk} ~ynp}ipw#jamxali ~ynp}ipw# 0 KEw
~ynp}ipw , 67 jep}ynpaiw
gekw}pyg}im nkm |n} vnqjik}
nwwypim lep lepiahk nwwaw}nkgi+
Ikwypi ~ynca}q vn}aik}
gnpi , JGB gnpi }e }bivy`cag
7
YKLVN 7+666 7+666 Kew el \ibagci vypgbnwim W}pikh}bikakh el
je`aca}q
0
YKLVN >6+666 >6+666 Kew el Lypka}ypi ,
I~yavjik} vypgbnwim
W}pikh}bikakh el vn}aik}
gnpi wipa|iw+
0
YKLVN >>+666 >>+666 6> HBw# 6> @Bw# MBw
i~yavim xa}b Cn`epn}epq
I~yavjik}
19) mimyg}aek ak
vn}aik} gejvcnak}w ak
jimagnc ak|iw}ahn}aek
0# #019+666 776+666 >#
8/3/2019 Financial Plan - 2012
54/78
Binm 4 =9>
Vpehpnjji 4 80
Vipweknc
Ijecyjik}w
E}bip
Pigyppik}
Irvikma}ypi
]e}ncWeypgi
el lykm
Caoicq
Gek}akyn
}aek lpej
06>>
Vpevewim
Kix Xepow ak
06>0
]e}nc
>16+666 >16+666 *>>>66+666 0+966 >60+966 * >>6+966 >6+966 * >>66 w}nllw hnakim
okexcimhi
=
YKAGIL 6+966 6+966 06 pi|aix jii}akh
gekmyg}im
Ajvpe|im Jn}ipknc ,
gbacm gnpi wip|agiw
=
YKAGIL 0+666 0+666 09 Kew el ky}pa}aeknc
nxnpikiww nkm >6 Kew el
gejjyka}q nxnpikiww
vpehpnjjiw gekmyg}im
Ikwypim `i}}ip
ky}pa}aeknc w}n}yw el }bi
gejjyka}q
9
YKAGIL 9+666 9+666 69 ]pnakakh vpehpnjjiw
gekmyg}im }e jamxa|iw
6> ]pnakakh vpehpnjji lep
kiekn}nc piwyjv}aek
6> wgbeec binc}b vpehpnjji
gekmyg}im
69 Kew el ]pnakakh
vpehpnjjiw lep Jimagnc
w}nllw gekmyg}im
Ajvpe|im Jn}ipknc ,
Gbacm gnpi wip|agiw
0
YKAGIL 9+966 9+966 =9 Kew el Binc}b |ecyk}iipw
VBJ mivceqim
Jn}ipknc , Gbacm
Binc}b gnpi wip|agiw
wipa|iw lngaca}n}im
0
Ajvpe|ijik} el
Vpi|ik}a|i Gnpi
Wip|agiw
8+666 8+666 >1 Kew+el |ibagci
jnak}nakim nkm wvnpi vnp}w
pivcngim nkm ak ywi
Ey}pingb wip|agiw
ajvpe|im q 26)
0
Gnva}nc
LAKNKGANC VCNK * 06>0
OPN
Akvy} Pw+(666
Oiq Ey}vy} Akmagn}epOiq Ey}geji
Akmagn}ep
Byjnk Piweypgi
Mi|icevjik}
Wipanc
Ke+el WPN
}e xbagb
OPN
gek}pa`y}i
>
Vpevewim
kix xepow ak
06>0
]e}nc
Jk
VWMH 1+66 06+96 01+96
Hpeykm lceep el nmjak
`cego gekw}pyg}im
Ajvpe|im binc}b
w}n}yw vievci el 9
Maw}pag}w
G@H >+66 >+66Ajvpe|i Binc}b w}n}yw
\n|ykaqn vievci
Lykg}aekakh xa}b
mallagyc}aiw
VWMH >+66 >+66
Eki \ibagci vnpo# nkm
wigypa}q by}
gekw}png}im+E|ip binm
vpedig}ep ep nkm
Ca`pnpq lypka}ypi
vpegypim
Ajvpe|im
]pnma}aeknc jimagnc
gnpi
G@H 6+96 6+96
9 Lypka}ypi# 9
gejvy}ipw
vpegypim
Ajvpe|im illagaikgq
el 06 W}nll
9 Vpehpnjw Ajvpe|i nxnpikiww
el AJ9 Vpehpnjw Ajvpe|i ky}pa}aeknc
w}n}yw el >666vievci
Eki Bip`nc Hnpmik
iw}n`cawbim
Ajvpe|im vpemyg}aek
el Jimagaki
6 0>+8< 8=+2< 1+96 09+66 7=+96
7+66 VWMH
Vpehpnjji 4 87
>+86Vpi|ik}a|i Binc}bGnpi
0+09
WPN 0
WPN =
Gnva}nc
WPN 90+09
Laknkganc Vcnk *06>0
Vpedig} OPN
Akvy} ak Jk Oiq Ey}vy}Akmagn}ep Oiq Ey}gejiAkmagn}epPigyppik}Wipanc Ke elWPN }e
xbagb
OPN
gek}pa`y}i
]e}nc
=2+>7 >1+1< +76
8/3/2019 Financial Plan - 2012
57/78
Vpehpnjji4>9#=8 ,9>
Akvy}
Vipweknc
Ijecyjik
}w
E}bip
Pigyppik}
Irvikma}ypi
]e}nc
Weypgi
el
Lykmw
CaoicqGek}akyn}
aek lpej
06>>
VpevewimKix
Xepow
ak 06>0
]e}nc
>
Wyw}nakakh }bi Byjnk
Piweypgiw el Wip|agi
mica|ipq wqw}ij
9#>68 U 9#>68 U U UVipweknc Ijecyjik}w npi
vnam }e 09 w}nll
Byjnk piweypgiw el
Wip|agi mica|ipq Wqw}ij
aw wyw}nakim+
0
0
Jnpoi} evvep}yka}aiw#
aklepjn}ek nkm
cakonhi nkm `yacmakh
okexcimhi ek kix
ev}aekw n|nacn`ci
0=8 0=8 VWMH >9#966 >8#966 77#666
6= @ycamakh Piw} npinw# 60
kew }eypaw} gik}piw
pibn`aca}n}im
096 vievci hi} mapig} ,
akmapig} ijvceqjik} nkm
akgpinwim 8966 cegnc ,
lepiahk }eypaw} nppa|ncw ak
KV
>
7 Ajvpe|akh je`aca}q eljik , jn}ipancw
022 022 VWMH U >8#666 >8#666 6= `yw w}nkmPibn`aca}n}im
0966lnjacaiw `ikila}im 0
U 71= 71= G@H U 966 966
Vpegypim ellagi i~yavjik}w
Gejvy}ip , Nggiwwepaiw
lypka}ypi , E}bip
Iyavjik}w
xepoakh gnvnga}q el }bi
jakaw}pq ajvpe|im `q
09)
= U >#=0> >#=0> U U U >66 laicm nkm cn` }iw} meki~ynca}q el gekw}pyg}aek
nwwypim `q =6)
9
Ajvpe|ijik} el wip|agi
mica|ipq ,Akw}a}y}aeknc
mi|icevjik} lepmica|ipq el wvigancatim
}pnakakh
U 68 7#1>2 1#609 U >9#966 >8#966 96#966
7
Pigyppik} "666!
Binm 4=0
0,=
Vpedig}
OPN Oiq Ey}vy} akmagn}ep
Gnva}nc"666!
Oiq Ey}gejiakmagn}ep
Wipanc Ke
el WPN }e
xbagbOPN
Gek}pa`y
}i
Gnvnga}q `yacmakh lep
ajvcijik}n}aek
8/3/2019 Financial Plan - 2012
58/78
>9
Oiq Piwyc} NpinVipweknc
Ijecyjik}w
E}bipPigyppik}
Irvikma}ypi
]e}nc
Caoicq
Gek}akyn}aek
lpej
06>>
Vpevewim KixXepow ak
06>0
]e}nc
Mi|icevjik} el
Weganc# Laknkganc#
Byjnk# Vbqwagnc#
Kn}ypnc Nwwi}w
=2#=96#666 186#666 =1#=06#666
Vipweknc
Ijecyjik}w xipi
vnam }e >22 w}nll
Byjnk piweypgiw el Wip|agi
mica|ipq wqw}ij aw wyw}nakim+
>
WPN >
=
Ajvpe|akh Byjnk
Akw}a}y}aekncPiweypgiw lep
Wip|agi mica|ipq
> Gejvy}ipw xa}b
nggiwwepaiw# 69
Vbe}egevaipw# 67
Kew Jyc}a Jiman
Vpedig}ep , ellagi
Lypka}ypi npi
vypgbnwim
Ajvcijik}akh gnvnga}q el w}nll
ajvpe|im `q 09)
7
WPN 7
=
Je}a|n}akh
Ellagancw >96#666 >96#666 766#666
> !Ellagi cnkhynhi 4*
96 ellagipw `ikila}im
0!Vipaemagnc
jnhntakiw 4*60 Kew
jnhntakiw
vypgbnwim
7!Xiclnpi4*76Kew
w}nll `ikila}im
Wip|agi vpe|amim }e e}bip
akw}a}y}aekw ajvpe|im+
0
Oiq Ey}vy}
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Wipanc Ke+
el WPN }e
xbagb OPNGek}pa`y}i
Vpedig}
Akvy}
Binm4*
Vpehpnjji Ke4*
8/3/2019 Financial Plan - 2012
59/78
Binm Ke+ 4* =0
OPN Oiq Ey}vy} akmagn}epOiq Ey}geji
akmagn}ep
Wipanc Ke el WPN
}e xbagb OPN
Gek}pa`y}iVpedig
}
Akvy}"Pw!
Vipweknc
Ijecyjik}w
E}bip Pigyppik}
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lpej 06>>
Vpevewim Kix
Xepow ak 06>0]e}nc
>
Wyw}nakakh }bi Byjnk
Piweypgiw el Wip|a|gi
mica|ipq wqw}ij
71#726#666 * 71#726#666 * * *Vipweknc Ijecykjik}w
npi vnam }e >70 w}nll
Byjnk piweypgiw el
Wip|agi mica|ipq
Wqw}ij aw wyw}nakim+
0
* >86#666 >86#666 * *
>9 Kew+ el W}nll }pnakim
ek Wvigancatim }igbkagnc
wy`dig}w , >9 Kew+
kepjnc }pnakakh
76 Ke+ el w}nll
Gnvnga}q ajvpe|im n}
ev}ajyj evipn}aeknc
ci|ic
* >7#276#666 >7#276#666 * * *Evipn}aeknc Ng}a|a}iw el7= vpedig}wel penmw }e
`i gnppaim ey}
@i}}ip wip|agi mica|ipq
`q >6)
7Ajvpe|akh je`aca}q el
jik nkm jn}ipancw* 76#666#666 76#666#666 * *
096 oj el penmw , penm
w}pyg}ypiw }e `i
Jnak}nakim
@i}}ip wip|agi mica|ipq
`q 9)0
=
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Inwq , Gejlep}n`ci
}pnkwvep}#
Jakajati Penm
Nggamik}w
* * * * >76#666#666 >76#666#666
=8+29 oj el penmw }e `i
ajvpe|im#
7 w}pyg}ypi }e `i
gekw}pyg}im+
@i}}ip wip|agi mica|ipq
`q >9)7
9
Gnvnga}q `yacmakh nkm
~ynca}q ajvpe|ijik} lep
ajvcijik}n}aek
* * * * >#896#666 >#896#666
HVW *= Kew
N7 Geceyp vpak}ep > Kew+
N = Geceyp Vpak}ep 7
Kew
Geceyp Vpak} vbe}egevq
jngbaki >
Ellagi Lypka}ypiw
@yacmakh }bi Gnvnga}q
el Ma|awaeknc ,
pihaeknc , Binm ellagi
Ajvpe|im n} ev}ajyj
evipn}aeknc ci|ic
7
71#726#666 ==#666#666 27#726#666 * >7>#896#666 >7>#896#666
Pigyppik} Gnva}nc
OPN
Ajvpe|akh Byjnk nkm
akw}a}y}aeknc piweypgiw
lep i}}ip wip|agi
mica|ipq
0
=
]e}nc
0
Oiq Ey}vy} akmagn}epOiq Ey}geji
akmagn}ep
Wipanc Ke el WPN
}e xbagb OPN
Gek}pa`y}iVpedig
}
Akvy}"Pw!
Laknkganc Vcnk * 06>0
8/3/2019 Financial Plan - 2012
60/78
Binm 4 =86 * J%Cegnc He|ipkjik}
Vpehpnjji 4 7,>
Vpevew
imKix
xepowak
06>0
]e}nc
0
Wyw}nakakhByjnkPiweypgi akWip|agiMica|ipqWqw}ij
>0#96= >0#61
Vipwekncijecyjik}wxipi vnam }e 99ellagipw
Byjnkpiweypgiwgnvnga}q awwyw}nakim+Ng}a|a}aiw el }biJakaw}pq elCegnc
He|ipkjik}
>
=
Akw}a}y}aekncPiweypgiwlep }biWip|agiMica|ipq
>#> 966 0#>>> G@H 966 966
Akw}a}y}aekxipiw}pikh}bikim`q 96)
0
8/3/2019 Financial Plan - 2012
61/78
Vipweknc
ijecyjik}w
E}bip
pigyppik}
irvikmy}ypi
]e}ncWeypgi el
Lykm
Caoicq
gek}akyn}
ak lpej
06>>
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kix xepow
ak 06>0
]e}nc
0
Wyw}nkakh }bi
byjnk
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Wip|agi mica|ipq
wqw}ij
801+69
Vipweknc
Ijecyjik}w
xipi vnam }e =6
w}nll
Byjnk
Piweypgiw el
Wip|agi mica|ipq
wqw}ij `q =6
w}nll xnw
wyw}nakim
>
0
Wyw}nkakh }bi
byjnk
Piweypgiw el
Wip|agi mica|ipq
wqw}ij
Vipenknc
ijecyjik}w
xipi vnam }e
019 w}nll
Byjnk
piweypgiw el
wip|agi mica|ipq
wqw}ij `q 019
w}nll xnw
wyw}nakim
>
0
Ajvpe|akh
byjnk nkmakw}a}y}aeknc
piweypgiw
}bpeyhb }bi
vypgbnwbakh lep
wip|agi mica|ipq
G@H >+89 >+89
Lypka}ypi nkm
icig}pekag
i~yavjik}wkiimw xipi
lycclaccim lep
Cegnc
He|ipkjik}w
Mivnp}jik}w " 2
Kew!
Gekmyga|i
xepoakh
ik|apekkjik}vpe|amim nkm
byjnk
piweypgiw el
wip|agi mica|ipq
wqw}ij `q w}nll
xnw wyw}nakim
0
>0+09 8>0
Vpedig
}
OPN
Akvy}
Pigyppik} Pw ak Jk Gnva}nc Pw ak Jk
Oiq Ey} vy}akmagn}ep
Vpehpnjji4 Mivnp}jik} el Cegnc He|ipkjik}
8/3/2019 Financial Plan - 2012
62/78
Vipweknc
ijecyjik}w
E}bip
pigyppik}
irvikmy}ypi
]e}ncWeypgi el
Lykm
Caoicq
gek}akyn}
ak lpej
06>>
Vpevewim
kix xepow
ak 06>0
]e}nc
Oiq Ey}Geji
akmagn}ep
Wipanc Ke el
WPN }e
xbagb OPN
gek}pa`y}iVpedig}
OPN
Akvy}
Pigyppik} Pw ak Jk Gnva}nc Pw ak Jk
Oiq Ey} vy}
akmagn}ep
=
W}pikh}bikakh
byjnk
Piweypgiw nkm
akw}a}y}aeknc
piweypgiw el
Cegnc
ny}bepa}aiw
16+7>
0
Mi|icevjik} lep
Mica|ipq el Wvigancti
]pnakakhw
=
Mi|icevjik}
nkm
ajvpe|ijik} }e
`yacmakh
lngaca}aiw nkm
piw}epn}aek el
vpevip}aiw
mnjnkhim `q
geklcag} nkm
vypgbnwi el
@eeow
G@H >8+66 >8+66
Vypgbnwakh
`eeow lep >68
Vy`cag
Ca`pnpaiw
Akgpiwakh cali
okexcimhi nkm
woaccw
7
8/3/2019 Financial Plan - 2012
63/78
Vipweknc
ijecyjik}w
E}bip
pigyppik}
irvikmy}ypi
]e}ncWeypgi el
Lykm
Caoicq
gek}akyn}
ak lpej
06>>
Vpevewim
kix xepow
ak 06>0
]e}nc
Oiq Ey}Geji
akmagn}ep
Wipanc Ke el
WPN }e
xbagb OPN
gek}pa`y}iVpedig}
OPN
Akvy}
Pigyppik} Pw ak Jk Gnva}nc Pw ak Jk
Oiq Ey} vy}
akmagn}ep
=
Iw}n`cawbjik}
nkm evipn}aek el
n ~ynca}q
ki}xepo ak }bi
vpe|akgi
VWMH 99+66 99+66>6 Oj penmw
Pibn`aca}n}im
>+]pnkwvep}
}aji pimyg}aek
0+Pimygim
Gekwyj}aek el
Lync
7+pimyg}aek el
]pnkwvep} gew}
el vnwwikhipw
nkm cenm
gnppaipw+
=+Ak|iw}jik}w
el igekejagng}a|a}aiw
7
8/3/2019 Financial Plan - 2012
64/78
Vipweknc
ijecyjik}w
E}bip
pigyppik}
irvikmy}ypi
]e}ncWeypgi el
Lykm
Caoicq
gek}akyn}
ak lpej
06>>
Vpevewim
kix xepow
ak 06>0
]e}nc
Oiq Ey}Geji
akmagn}ep
Wipanc Ke el
WPN }e
xbagb OPN
gek}pa`y}iVpedig}
OPN
Akvy}
Pigyppik} Pw ak Jk Gnva}nc Pw ak Jk
Oiq Ey} vy}
akmagn}ep
=
Mi|icevjik} el
nc}ipkn}a|i
ikiphq ak
pije}i%pypnc
npinw }bn} gnk(}
`i wip|im `q
kn}aeknc
VWMH 6+66
7= Myjvakh
hpeykmw xipi
pike|n}im# ak
ingb Cegnc
Ny}bepa}q lep
iw}n`cawbjik}
el vpevip wecam
xnw}i
Jnknhijik}+
@i}}ip Wecam
xnw}i
Jnknhijik}
vpng}agiw xipi
wyw}nakim
7
=
7+0 Jepi
ak|iw}jik}w
Vpe|awaek el Gejjyka}q
ci|ic
aklpnw}pyg}ypi
VWMH >9+66 >9+66
= Kew Jemic
gejjyka}q # 0
Kew Vy`cagca pnpaiw gik}pi
gekw}pyg}im
@i}}ip
ajvpe|ijik}
wajvcalaim nwxicc nw ajvpe|i
ca li okexcimhi
woaccw
7
8/3/2019 Financial Plan - 2012
65/78
Vipweknc
ijecyjik}w
E}bip
pigyppik}
irvikmy}ypi
]e}ncWeypgi el
Lykm
Caoicq
gek}akyn}
ak lpej
06>>
Vpevewim
kix xepow
ak 06>0
]e}nc
Oiq Ey}Geji
akmagn}ep
Wipanc Ke el
WPN }e
xbagb OPN
gek}pa`y}iVpedig}
OPN
Akvy}
Pigyppik} Pw ak Jk Gnva}nc Pw ak Jk
Oiq Ey} vy}
akmagn}ep
=Vpe|awaek el
vy`cag pync
aklpnw}pyg}ypi
VWMH 9=+66 9=+66
> Ke Nqyp|imag
bewva}nc > Ke
gejjnk bncc # 7
Kew jipoi} # >
Ke gpija}epayj
nkm >Ke
giji}pq
gekw}pyg}im
Akgpinwakh
aklpnw}pyg}ypi
lngaca}aiw njekh
pypnc npin
vievci+
7
= Mi|icevjik} el
vbqwagnc nwwi}w
G@H >6+66 >6+66
>0==Gejjyka}q
gik}piw }e
vypgbnwi Kixw
vnvip nkm
vipaemagnc
jnhntakiw
@i}}ip pinmakh
nkm cipnakh
lngac a}aiw >0==
gejjyka}q
gik}ipw
=
]e}nc >60+99 800+26 209+79 >
8/3/2019 Financial Plan - 2012
66/78
Vipweknc
Ijecyjik}w
E}bip
pigyppik}
Irvikma}ypi
]e}nc
Weypgi
el
lykm
Caoicq
Gek}akyn}aek
lpej 06>>
Vpevewim
kix xepo
ak 06>0
]e}nc
Jnak}nak }bi
Byjnk Piweypgi
el wip|agi mica|ipq
wqw}ij
88#666 #089 >#089Pige|ipim 89) el myi ncnkgiw
}e }bi wegai}aiw
Mawvy}iw wi}}cim
>#=#=28=
e}bip Vpajnpq Wegai}aiw pigia|im
nm|agi nkm hyamnkgi
@iw} Jnknhijik} Vpng}agiw
226 226Pimygi xnw}nhiw ,
jawnvvpevpan}aek `q 06)
Wip|agi mica|ipq ajvpe|im
Ajvpe|akh
Akw}a}y}aeknc
piweypgiw lep
wip|agi mica|ip
G@H >#896 >#896
60 Vbe}egevq Jngbakiw# >#896 >#896
Laknkganc Vcnk * 06>0
Binm Ke 4*=80 Mivnp}jik} el Ge*evipn}a|i Mi|icevjik}
Vpehpnjji 4*97 Ge*evipn}a|i Mi|icevjik}
Vpedig} 4*0 Hikipnc Nmjakaw}pn}aek
Pigyppik} "666" Gnva}nc "666"Oiq ey} geji
akmagn}ep
Wipanc Ke el
WPN }e xbagb
OPN
Gek}pa`y}i
>
Vpevewim
kix xepo
ak 06>0
]e}nc
Jnak}nak }bi
Byjnk Piweypgi
el wip|agi mica|ipq
wqw}ij
>#190 >#190
Pijykipn}aek , Akgik}a|iw
vpe|amim }e >6 w}nll
Byjnk piweypgiw el Wip|agi
mica|ipq wqw}ij `q >6 w}nll aw
wyw}nakim>
Vpeje}akh
vpeliwwaekncawj ak
}nphi}akh nkm
vpaepa}atakh
710 710
Wyvvep}akh }e Maw}pag} Geev
Geykgac }e gekmyg} >6 }pnakakh
vpehpnjjiw , Irnjw }e geev
ijvceqiiw
@iw} Jnknhijik} Vpng}agiw
0
Ajvpe|akh
Akw}a}y}aeknc
piweypgiw lep
wip|agi mica|ipq182 182
Vpe|amakh ]pnakakh }e >01 Ge*
evipn}a|i Mi|icevjik} Ellagipw#
>66 e}bip w}nll# , ijvceqiiw el
}bi wegai}aiw }e ajvpe|i }bi
ci|ic el wip|agiw mica|ipim
Gnvnga}q el Byjnk piweypgi
akgpinwim
0
Aklepjn}aek
Mi|icevjik}776 776
Gekmyg}akh 68 xepowbevw }e }bi
Ge*evipn}a|i ephnkatn}aekw
@iw} Jnknhijik} Vpng}agiw
9
]e}nc >#190 >#866 7#0
Binm Ke 4*=80 Mivnp}jik} el Ge*evipn}a|i Mi|icevjik}
Vpehpnjji 4*97 Ge*evipn}a|i Mi|icevjik}
Vpedig} 4*7 Vpe|akganc Ge*evipn}a|i ]pnakakh Akw}a}y}i
Vpedig} Oiq Piwyc} Npin
Akvy}
Oiq ey} vy}
akmagn}ep
Oiq ey} geji
akmagn}ep
Wipanc Ke el
WPN }e xbagb
OPN
Gek}pa`y}i
8/3/2019 Financial Plan - 2012
68/78
Vipweknc
Ijecyjik}w
E}bip
pigyppik}
Irvikma}ypi
]e}nc
Weypgi
el
lykm
Caoicq
Gek}akyn}aek
lpej 06>>
Vpevewim
kix xepo
ak 06>0
]e}nc
Jnak}nak }bi
Byjnk Piweypgi
el wip|agi mica|ipq
wqw}ij
#666 >#666
Vpe|amim }pnakakh }e 729
@ikilaganpaiw
Ikbnkgim woaccw nkm
okexcimhi el }bi @ikilaganpaiw
, irvnkm }bi wicl ijvceqjik}
7
Pimygakh
bi}ipehikia}q nkm
|yckipn`aca}
>16 >16966 @ikilaganpaiw pigia|im gpima}
lngaca}aiwW}nkmnpm el cali ajvpe|im 9
]e}nc 0
8/3/2019 Financial Plan - 2012
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OPN >+> Byjnk
Piweypgi
Mi|icevjik}
797 w}nll
Byjnk piweypgiw
gnvnga}q aw
jnak}nakim
OPN >+> Ajvpe|akh
Akw}a}y}aekncPiweypgiw lep }bi
wip|agi mica|ipq
>#966 >#966 PG >#696 >#696
Pivnapw nkm
jnak}nakim |ibagci * >
Gnp# > Wakhci gy`# 8
Je}ep aoi# >6
Gejvy}ipw# 0
Vbe}egevq jngbakiw
nkm 0 Lnr jngbakiw
Akw}a}y}aeknc
gnvnga}q
ajvpe|im `q >6)
OPN >+7 Jnpoi}
evvep}yka}aiw#
aklepjn}aek
cakonhiw , ki}xepow
>#766 >#766Pigypi
k}
9 Irba`a}aekw , 9
]pnmi w}nccw gekmyg}im
Cegnc jnpoi} ,
Kn}aeknc ci|ic
Jnpoi} el cegnc
vpemyg}w aw
OPN >+=
Vpemyg}a|a}q
ikbnkgijik}
VWMH =66 =66Jemalaim >0 pntep
jemic bnkmceejw
Cegnc vpemyg}aek
akgpinwim `q 96)
OPN0+> Ajvpe|akh
je`aca}q# jik ,
jn}ipancw
>#996 >#996Pigypi
k}
Wyvvcaim >666 Oh
qnpk , geap }e ]pnakakh
gyj vpemyg}aek
gik}ipw
Cegnc vpemyg}aek
akgpinwim `q 96)0
]e}nc
Binm Ke+ 4* =87 * Mivnp}jik} el Akmyw}paiw
Vpehpnjji Ke 4* 9>
OPN
Akvy}
Pigyppik} "Pw (666! Gnva}nc "Pw (666!
Vipweknc
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E}bipPigyppik}
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pi
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