Financial Period Forecast of Cash Surplus and Deficit

Forecasting the use of cash surplus from the eighteenth financial period reveals a starting deficit of CHF 3 million. Factors influencing the surplus include savings from prior obligations, full expenditure in 2023, and limited interest income due to low rates. However, the final surplus amount will only be determined in 2025. The General Fund statement details income, expenditures, and the ending surplus/deficit for the period 2020-2023. A congress resolution authorizes the suspension of Financial Regulation 9.1 for the nineteenth financial period (2024-2027) to manage the distribution of any surplus from the previous period.

• Forecasting
• Cash Surplus
• Deficit
• Financial Period

iked_i Follow

Uploaded on Oct 03, 2024 | 0 Views

Download Presentation

Please find below an Image/Link to download the presentation.

The content on the website is provided AS IS for your information and personal use only. It may not be sold, licensed, or shared on other websites without obtaining consent from the author. Download presentation by click this link. If you encounter any issues during the download, it is possible that the publisher has removed the file from their server.

Presentation Transcript

1. Use of Cash Surplus Arising from the eighteenth Financial period Cg-19/Doc.6.3(1) 19 May 2023

2. Forecast Cash Surplus / Deficit Started 18th Financial Period with a deficit of nearly CHF 3 million Assume outstanding contributions consistent with the end of 2022 levels Limited interest due to low rates during most of 18th Financial Period Assumes full expenditure, including carryover, in 2023 Savings incurred on prior year obligations due to pay-cut decision and certain planned activities that could not be completed Forecast small cash surplus, but final amount will only be known in 2025 Financial Regulation 9.1 states that cash surpluses shall be credited on the basis of the scale of assessments to the Members 2 10/3/2024

3. GENERAL FUND GENERAL FUND Statement of cash surplus or deficit Statement of cash surplus or deficit During the Eighteenth Financial Period (2020 to 2023) Forecast Cash Surplus / Deficit actual expenditures through 2022, forecast expenditures for 2023 and forecast savings for 2022 and 2023 Amounts in thousands of Swiss Francs Values based on amounts actually received through 2022, forecast receipts for 2023, 2020 2020 (2,990) 2021 2021 2022 2022 2023 2023 Total Total (2,990) Cash surplus (deficit) at beginning of period Cash surplus (deficit) at beginning of period Income: Income: 1 1 2 2 10,991 16,007 11,000 2.1 2.1 Assessed contributions: Assessed contributions: 2.1.1 Unpaid contributions at beginning of period 2.1.2 Assessments 2.1.3 Less unpaid contributions at end of period 2.1.4 Assessed contributions received 2.2 2.2 Interest Earned / Miscellaneous Income Interest Earned / Miscellaneous Income 2.2.1 Total Interest Earned and Miscellaneous Income 2.3 2.3 Total income received during the period Total income received during the period Total resources available for appropriations Total resources available for appropriations 28,375 67,886 (25,174) 71,087 25,174 67,886 (30,761) 62,299 30,761 67,886 (34,069) 64,578 34,069 67,886 (34,611) 67,345 28,375 271,544 (34,611) 265,309 (207) 70,881 67,890 362 8 100 264 62,661 73,652 64,587 80,594 67,445 78,445 265,573 262,583 3 3 4 4 Expenditure: Expenditure: Expenditure (including obligations) Less net savings on obligations: 4.1 4.1 4.2 4.2 60,003 62,655 70,193 78,693 271,544 4.2.1 4.2.2 4.2.3 Expenditure excluding obligations (cash) On all obligations excluding fellows On obligations for fellows Total savings on obligations 3,058 4,934 550 50 600 350 50 400 8,893 221 9,114 262,430 46 75 3,104 56,899 10,991 10,991 5,010 57,645 16,007 16,007 69,593 11,000 11,000 78,293 152 152 4.3 4.3 Cash surplus (deficit) at end of period Cash surplus (deficit) at end of period 5 5 152 152 3 10/3/2024

4. Resolution in Congress Document THE WORLD METEOROLOGICAL CONGRESS: Authorizes the suspension of Financial Regulation 9.1 during the nineteenth financial period (2024-2027), with respect to the distribution of any cash surplus that might arise from the eighteenth financial period (2020-2023), Delegates to the Executive Council the allocation of such cash surplus to priority activities. 4 10/3/2024

5. FINAC Recommendation Recommendation 5: That the Congress adopts draft Resolution 6.3(1)/1 (Cg-19) Use of cash surplus arising from the Eighteenth Financial Period 5 10/3/2024