Financial Overview — 2017 Financial Highlights
2017 Financial Highlights
The budget appropriations for 2017-2018-2019 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 2017 was adjusted to CAD 95 078 000, as a result of:
| i) | the carry-over of 2016 appropriations to 2017 for a total of CAD 21 335 000 in accordance with Financial Regulations 5.6 and 5.7; | |
| ii) | the transfer between Strategic Objectives or Supporting Implementation Strategies in accordance with Financial Regulation 5.9; and | |
| iii) | the following adjustments for a total amount of CAD 23 899 000 to decrease 2017 appropriations and to increase 2018 appropriations: | |
| | a) | the Outstanding Commitments in the amount of CAD 16 364 000 in accordance with Financial Regulation 5.7; and |
| | b) | the carry-over of 2017 appropriations to 2018 in the amount of CAD 7 535 000 as per Financial Regulation 5.6. |
The actual expenditure for 2017 amounted to CAD 103 816 000. Since 2010, Member States are invoiced partly in USD and partly in CAD. The USD/CAD exchange rate on 1 January 2017 (the date when invoices were raised in USD) was higher than the rate used in developing the 2017 budget, causing an addition to total assessed contributions of CAD 11 386 000 of which CAD 1 658 000 pertains to outstanding 2017 assessments in USD. In addition, there was a revaluation of balance sheet items due to a net currency exchange loss of CAD 990 000. The net gain (CAD 8 738 000) has been allocated to actual expenditures (CAD 103 816 000) in order to restate them to the budget rate of exchange, which amounts to CAD 95 078 000.
