GENERAL AGREEMENT ON L/ March 1968 TARIFFS AND TRADE

Transcription

1 RESTRICTED GENERAL AGREEMENT ON L/ March 1968 TARIFFS AND TRADE Limited Distribution ADMINISTRATIVE AND Final FINANCIAL QUESTIONS 1967 Budget Position 1. In accordance with the CONTRACTING PARTIESstanding instructions regarding the reporting of any savings accrued at the end of the financial year, the Director-General's proposalsfor appropriation of such savings, the financial position concerning the transfer of credits between sections of the budget, and any advances made from the Working Capital Fund, the Director-General has the honour to submit the followinginformationfor consideration by the E. INCOME BUDGET 2. The following amountswere credited as income for 1967: (a) US$3,000,500 in contributions assessed on contracting parties in accordance with the seals of contributions as approved for 1967 (documentl/2694); (b) US$8,886 in additional contributions assessed on three new contracting parties during the financialyear 1967 and the adjustmentof the UnitedKingdomcontribution due to the accession to GATT of Barbados; (c) US$123,435.94representing miscallaneousincome. 3. It shouldbe notedthat the additionalcontributions ofus$8,886 assessed on three new contracting parties during the financial year, referred to in paragraph 2(b) above, were treated as extra budgetary income. Miscellaneous income exceeded the approved estimateof US$5O,000 by US$73, This excess is mainlydue to: (a) the income fromthe sale in 1967 of the Trade Conference Protocol which was not budgeted for (US$20,000) and the increased sale of International Trade Centrepublications in 1967 (US$4,000); (b) the increased income from investments (US$17,000) as a consequence ofhigh interest rates obtainon short-term investments and of theearly collection of a large part ofthe contributions;(c) the funds received for administrative overhead Ha 3ld --in Course on export promotion costs relating to the Dag (US$6,600); and (d) the rei --s by the International Bankfor Reconstruction and Development ofstaff costs incurredconnexion with the Korean Export Study undertaken by GATT (US$2,950).

2 Page 2 4. At 31 December 1967, contributions in arrears in respect of contracting parties amounted to US$229, As regards contributions due from countries having withdrawn from the Agreemant, Syria still owes US$5, in respect of 1950 and 1951 (Annex A). At 31 December 1966 contributions in arrears amounted to US$158, II. EXPENDITURE BUDGET 5. Appropriations for the financial year 1967 were approved by the CONTRACTING obligations incurred amounted to PARTIESat a level of US$3,050,500; US$2,906,659.87, leaving an unencumbered balance of US$143, This surplus is due to savings of US$170, as set out below, offset by the excess expenditure of US$26, referred to in paragraph 7: PARTI - Section 2 - Meetings of the Council and other Meetings US$ 30, PART II - Section 1 - Salaries and wages a official travel US$133, Section 2 - Common staff costs US$5, Section 3 - Permanent equipment US$ PART III - Section 1 - Annuity to Canton of Geneva US$ PARTIV - Section 1 - Reimbursement of withdrawals to the Working Capital Fund US$ US$170, The savings on PART I - Section 2 - Meetings of the Council and other meetings are due to a reduced number of meetings held 1967, i.e. seventyfour days, compared with 116 days in 1966 and 160 days in (Meetings of the Trade Negotiations Conference are not includedin this section.) Asregards the savings on PART II - Section 1 - Salaries and wages and official travel, these can be accounted for mainly by the fact that a number of posts, including those of the Deputy Director-General and an Assistant Director-General, remained unfilled during various periods of the year. Some savings result from the fact that the approved credits salary scales and for a additionalclass in the scales of post adjustment for the professional categorywere not fully used. In the case of the former the actual increases were lower than foreseen. In the case of the latter the increase only became due four months later than had been anticipated. Further savings onthe item for travel aremainly due to the prolonged absence of the Assistant Director-General in charge of external relations and the postponement of the second UNCTAD in New Delhi from 1967 to providing for increases in the general service category 7. The credit balance of US$170,409.50,mentioned in paragraph 5 above, is reduced by transfers of US$26, as set out in AnnexB. These transfers are necessaryin order to cover excess expenditure over approved budget

3 appropriations incurred on the following sections and authority is hereby sought to increase appropriations accordingly: PART I - Section 1 - Twenty-fourth session of the CONTRACTINGPARTIES US$ Section 3 - Trade Negotiations Conference US$ 3, PART II - Section 3 - Common services US$ Section 4 - Printing US$ 1, Section 5 - Representation and hospitality US$ US$26, Page 3 8. The excess expenditure on PARTII - Section 3 - Common services is mainly due to the higher number of documents distributed in 1967 through the United Nations Distribution Service (30 per cent more than in 1966). III. SURPLUS ACCOUNT 9. The Surplus account reproduced in Annex C shows an unappropriated surplus of US$114, It will be recalled that the Committeeon Budget, Finance and Administration, at its meeting in May 1967, considered the possibility of improving the overall liquidity position by transferring year-end surpluses to the Working CapitalFund Ṭhe Director-General intends to put proposal for the disposal of the at a later date, CONTRACTING PARTIES. surplus to the Committee on Budget, Finance and Administration for consideration and appropriate recommendations to the IV. WORKING CAPITALFUND 10. The principal of the Working Capital Fund was US$358,874 at 31 December In addition, an amountof US$14, resulting from the revised assessment of advances to the Fund (document L/2482), and US$ resultingof the dissolution of the former Federation of Rhodesia and Nyasaland (document L/2324), stood to the credit of governments' accounts. 11. An amountof US$3, representing advances assessed on nine contracting parties was still outstanding at 31 December At 31 December 1967 a total of US$35, had been advanced and willbe repaid out of the 1968 budget. Point for decision: Paragraph7.

4 Page 4 Argentina Burundi Cambodia Chad ANNEX ACONTRIBUTIONS IN ARREAS AS AT 31 DECEMBER 1967 (in US dollars) (a) Contributions due by the contracting parties: Congo (Brazzaville) Dominican (1962) Republic (1963) (1964) Ghana Greece Haiti indonesia Ireland Nicaragua Niger Peru Rhodesia Rwanda Uganda Upper Volta (1964) 5, , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , (b) Contributions due by countries having withdrawn from the Agreement: Total Syria 2, , , Total

5 FROM: ANNEXB PROPOSED TRANSFERS BETWEENBUDGETARYSECTIONS (in US dollars) PARTI: MEETINGS Section 2 - Meetings of the Council and other Meetings Temporary assistance (including overtime) 4,461.6 PART II: SECRETARIAT Section 1 - Salaries and Wages and Official Travel Established posts TO: Page 5 PART I: MEETINGS Section 1 - Twenty-Fourth Session of the CONTRACTING PARTIES Temporary assistance (including overtime) Section 3 - Trade Negotiations Conference Temporary assistance (includingovertime) 22, PART!I: SECRETARIAT Section 3 - Common Services Telephone(rental and local calls) Maintenance expenditure Postal services Stationery and office Supplies Reproduction and distribution of documents 3, , , , , Section 4 - Printing Printing Section 5 - Representation and Representation and hospitality 1, , ,569.37

6 Page 6 ANNEX C SURPLUS ACCOUNT (in US dollars) Excess of income over expenditure 226, Transfer from provision for contributions in arrears in respect of receipts of arrears in , Deduct: Transfer to provision for contributions in arrears in respect of 1967 contributions in arrears Transferto accounts receivable to write off invoices irrecoverable Unappropriatedsurplus as at 31 December , , ,843.02