Financial Overview — 2014 Financial Highlights

Financial highlights — 2014

The budget appropriations for 2014-2015-2016 and the financing of the appropriations, as approved by the Assembly, are shown in Table 1:

As shown in Table 2, the final appropriation for 2014 was adjusted to CAD 86 205 000, as a result of:

i)	the carry-over of 2013 appropriations to 2014 for a total of CAD 11 289 000 in accordance with Financial Regulation 5.6 and Financial Regulation 5.7;
ii)	the decrease of appropriation of CAD 29 000 being the amount not reimbursed to the Regular Programme by the Administrative and Operational Services Cost Fund (AOSCF) as approved by C-DEC 200/2;
iii)	the transfer between Strategic Objectives or Supporting Implementation Strategies in accordance with Financial Regulation 5.9; and
iv)	the following adjustments for a total amount of CAD 17 807 000 to decrease 2014 appropriations and to increase 2015 appropriations:

a)	the Outstanding Commitments in the amount of CAD 10 255 000 in accordance with Financial Regulation 5.7; and
b)	the carry-over of 2014 appropriations to 2015 in the amount of CAD 7 552 000 as per Financial Regulation 5.6.

The actual expenditure for 2014 amounted to CAD 89 893 000. Since 2010, Member States are invoiced partly in USD and partly in CAD. The USD/CAD exchange rate on 1 January 2014 (the date when invoices were raised in USD) was higher than the rate used in developing the 2014 budget causing an addition to total assessed contributions of CAD 2 490 000. In addition, there was a revaluation of balance sheet items due to a net currency exchange gain of CAD 1 198 000. The net gain (CAD 3 688 000) has been allocated to actual expenditures (CAD 89 893 000) in order to restate them to the budget rate of exchange, which amounts to CAD 86 205 000.