Message from the Chairperson of the Trust FundS Board T he year 2013, being the final year of MISA’s Third Strategic Partnership Programme (SPPIII), was a year of introspection, consultation and planning – both internally within MISA’s structures, as well as with our long and trusted development partners. in 2011/2012 are now being felt in Africa and Asia. The total expenditure for the period under review was USD $1,731,936 that resulted in the MISA Trust realising a net surplus of USD $112,075. The review of the budgetary monitoring system helped management to keep costs within budget. Despite being affirmed as the leading advocate for media freedom, freedom of expression and access to information in southern Africa following a regional impact assessment of development support to media development in southern Africa over the last 20 years, MISA cannot become complacent – certainly not when there is ample evidence that media freedom is increasingly under threat in our region. MISA undertook other project during the year funded by Open Society Initiative of Southern Africa (OSISA), Save the Children, Privacy International and the African Capacity Building Foundation (ACBF). Looking Ahead Governance While the last few years have been quite challenging, the future looks more promising. Some changes to MISA governance were also effected resulting in the constitution of the AGM being a meeting of its national chapters as its members, with each national chapter having one vote. Having undergone serious introspection the MISA TFB is ready to lead the institutional transformation that is required to secure the future of MISA as a relevant, effective and efficient organisation. To re-align its structures, the term of office of TFB members was reduced to 3 years, renewable only once. A TFB members’ retirement process has already been agreed that will see long-standing members retiring at the end of this year. These trustees will be replaced through an appointment process involving recommendations by the RGC. Financial Performance & Operations The total grant income of the MISA Trust for 2013 was USD $1,833,071 with the basket funders namely Embassies of Denmark, Norway and Sweden contributing USD $1,371, 418 constituting 74.82% of the grant Income. The access to donor funding continues to pose challenges as the effects of economic recession that affected the world economy 6 Luckson A Chipare Chairperson MISA Trust Funds Board (TFB)