Financial Overview – 2013 Financial Highlights

Financial Highlights - 2013

The budget appropriations for 2011-2012-2013 and the financing of the appropriations, as approved by the Assembly, are shown in Table 1.

Table 1. Appropriations for 2011, 2012 and 2013

(in thousands of CAD)

As shown in Table 2, the final appropriation for 2013 was adjusted to CAD 105 949 000, as a result of:

i)      The carry-over of 2012 appropriations to 2013 for a total of CAD 8 519 000 in accordance with Financial Regulation 5.6 and Financial Regulation 5.7.

ii)     The decrease of appropriation of CAD 639 000 being the amount not reimbursed to the Regular Programme by the Administrative and Operational Services Cost Fund (AOSCF) as approved by C-DEC197/2.

iii)    The transfer between Strategic Objectives or Supporting Implementation Strategies in accordance with Financial Regulation 5.9.

iv)    The following adjustments for a total amount of CAD 11 498 000 to decrease 2013 appropriations and to increase 2014 appropriations:

a)    the Outstanding Commitments in the amount of CAD 7 170 000 in accordance with Financial Regulation 5.7;

b)    the carry-over surrendered in the amount of CAD 209 000; and

c)    the carry-over of 2013 appropriations to 2014 in the amount of CAD 4 119 000 as per Financial Regulation 5.6.

The actual expenditure for 2013 amounted to CAD 94 943 000. Since 2010, Member States are invoiced partly in USD and partly in CAD. The USD/CAD exchange rate on 1 January 2013 (the date when invoices were raised in USD) was lower than the rate used in developing the 2013 budget causing a reduction to total assessed contributions of CAD 1 337 000. In addition, there was a revaluation of balance sheet items due to a net currency exchange gain of CAD 1 828 000. The net gain (CAD 491 000) has been added to actual expenditures (CAD 94 943 000) in order to restate them to the budget rate of exchange, which amounts to CAD 94 452 000.

Table 2. Revised appropriation for 2013

(in thousands of CAD)

Table 3. Cash balances for 2013

(in thousands of CAD)

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