2021 Financial Highlights
ICAO closed 2021 in good financial health owing to the continued support of Member States and donors and sound financial management practices, including processes and controls designed to keep expenses within the available financial resources.
The Regular Budget appropriations for 2020, 2021 and 2022, and the financing of the appropriations, as approved by the ICAO Assembly, are shown in Table 1.
The final appropriation for 2021 was adjusted to CAD 98 266 as a result of:
| a) | the carry-over of 2020 appropriations to 2021 for a total of CAD 33 488 in accordance with Financial Regulations 5.6 and 5.7; |
| b) | the transfer between Strategic Objectives or Supporting Implementation Strategies in accordance with Financial Regulation 5.9; and |
| c) | the following adjustments for a total amount of CAD 42 168 to decrease 2021 appropriations and/or increase 2022 appropriations: |
| i. | a decrease in appropriations by CAD 11 100 as a result of a transfer to the Operational Reserve for activities contemplated under the Operational Plan (C-DEC 223/11 refers); |
| ii. | outstanding commitments in the amount of CAD 17 634 in accordance with Financial Regulation 5.7; |
| iii. | the carry-over of 2021 appropriations to 2022 in the amount of CAD 12 934 as per Financial Regulation 5.6, within the Secretary General’s authority; and |
| iv. | the carry-over of 2021 appropriations to 2022 in the amount of CAD 500 as per Financial Regulation 5.6, within the Council’s authority (C-DEC 226/3 refers). |
The actual expenditure for 2021 amounted to CAD 98 266. The exchange difference of CAD 7 399 on expenses is due to the difference in the rate of exchange used to prepare the budget versus the monthly United Nations rates of exchange applied during the year. This exchange difference has been allocated to actual expenses in order to restate it to the approved budget exchange rate.
In 2021, the Secretariat carefully monitored the budget and cash situation. However, COVID-19 restrictions continued to impact the implementation of activities, resulting in a lower-than-targeted budget utilization rate.
The collection rate of annual assessments decreased by 9.9 per cent in 2021, standing at 85.2 percent
(95.1 per cent in 2020). This was reflected in the increase in the overall balance of assessments due by
CAD 12.4 million, from CAD 14.8 million in 2020 to CAD 27.2 million as at 31 December 2021, which mainly resulted from a major donor delaying partial payment of 2021 dues to early January 2022. Despite this, the ending cash position of CAD 59.2 million as at the 2021 year-end was maintained at the 2020 level
(CAD 60.5 million), thereby enabling a smooth transition to 2022 implementation. Cash balances for 2020 and 2021 for Regular Budget funds are presented in Table 3.
Note: All figures reflected in the 2021 Financial Highlights are unaudited and may contain slight discrepancies (in tables) due to rounding.
