ITO's 2018 Budget Approved

Istanbul Chamber of Commerce (İTO) approved its 2018 budget at TRY 301,350,008. The İTO Business Programme and Budget Discussion meeting was held at the İTO Council. Budget Commission Chair Sadettin Çaldağ presented an evaluation of 2017 revenues and expenses along with the 2018 budget to the İTO Council. Budget chapters were then submitted for council approval individually. In the vote held, the new year budget was approved. The İTO budget, which stood at TRY 277,020,008 in the previous year, increased by approximately TRY 24 million. Istanbul Chamber of Commerce's new Management Board Chair Öztürk Oran stated, "In 2017, our total revenues amounted to TRY 279,500,759 and our total expenses amounted to TRY 217,992,442. Thus, the 2017 budget yielded a surplus of TRY 61,508,317. These figures are a concrete reflection of our principle of 'spending in the right place, in the right amount.'"

Continuity and Commitment

Oran began his remarks at the İTO's 2018 business programme and budget discussion meeting by paying respects to the late Chair İbrahim Çağlar. Reminding that the management board must hold elections within one month in case of the Chamber chair's passing, Oran said, "We held our management board meeting on 20 December 2017. With the approval of the Management Board members, I have taken on this responsibility. First and foremost, I would like to state that this is not a handover, but a continuity of commitment. My appointment as Management Board Chair is the result of our effort to carry the flag forward. May God grant us the opportunity to work towards the growth of our country and open new doors for the business world with the motto 'A larger Chamber, stronger members.'"

Right Amount

Sharing the total figures for the 2017 budget, Oran noted: "In 2017, our total revenues amounted to TRY 279,500,759 and our total expenses amounted to TRY 217,992,442. Thus, the 2017 budget yielded a surplus of TRY 61,508,317. These figures are a concrete reflection of our principle of 'spending in the right place, in the right amount.' Indeed, we are the followers of a Prophet who taught us not to waste even running water in a river. Therefore, our most important responsibility is to spend our members' money carefully. Thus, we present to your approval the 2018 budget of TRY 301,350,008 and business programme of our Chamber with 416,000 members. May God grant us to use these resources for work that will grow our country and our members." Source: http://www.ito.org.tr/