40th Meeting of the Ramsar Standing Committee
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|CONVENTION ON WETLANDS (Ramsar, Iran, 1971)|
40th Meeting of the Standing Committee
Gland, Switzerland, 11-15 May 2009
DOC. SC40-6, rev. 1
Review of 2008 Core and projects income and expenditure
|Action requested: The Standing Committee is invited to note the contents of this report and advise as appropriate.|
1. Attached to this note is the final draft of the audited financial statements for 2008.
2. The following points are highlighted for the Standing Committee’s consideration:
- Core incomes and expenditures are largely as budgeted.
- A net deficit of CHF 62,000 is shown. It includes a large unrealised exchange loss (CHF 86,000), mainly on Euros held at 31 December 2008.
- Having two Standing Committee meetings in 2008 has doubled this expenditure compared to budget.
- Travel costs have been greater than budgeted due to rising travel costs and activity levels of Ramsar management.
- 2008 non-core, project income was CHF 1,840,000, a fall of 9% over 2007. 2008 income includes CHF 957,000 generated for COP10. 2008 saw project expenditures of CHF 363,000 greater than income.
- COP10 projects show a net deficit of CHF 34,000. In document SC40-7 we propose to cover this via the transfer from the unrealised Reserve Fund.
- Strong cash and thus interest income in 2008 due to good collection of contributions and close cash management, with high year end external and IUCN creditor balances.