Jewish Agency Assembly Submits $487 Million Deficit Budget

A deficit budget of $487,415,935 for fiscal 1971-72 was proposed to the Jewish Agency’s founding Assembly here today by its budget and finance committee. The budget will be administered by the 40-member Board of Governors elected last night to serve as the supreme policy-making body of the expanded Jewish Agency between meetings of the Assembly. The Board of Governors elected as its first chairman Max Fisher of Detroit, chairman of the United Israel Appeal and president of the Council of Jewish Federations and Welfare Funds in the United States. The new budget exceeds anticipated income. The budget and finance committee noted in its budget resolution that it was “compelled to eliminate a number of important and vital items” and that it was “concerned that insufficient funds are available to satisfy all of the essential needs which come within purview of the activity of the Jewish Agency.” The resolution authorized the Board of Governors to “make such changes in the budget during the course of the fiscal year as it deems necessary.” Addressing the Assembly yesterday, former Premier David Ben-Gurion predicted peace with Egypt during the next decade. He said he based his optimism on the growing number of Egyptian university graduates who, he hoped, would direct their country’s energies toward nation-building rather than war.