43rd Meeting - Geneva, 5-9 July 2004

Documents UNEP/OzL.Pro/ExCom/43/52:  addresses the issues pending from the 42nd Meeting of the Executive Committee of the reconciliation of 2002 accounts of the Multilateral Fund (Decision 42/41).

• Adjustments for UNDP’s initial start-up cost;
• Submission of World Bank’s audited 2002 accounts; and
• Excess income held by the World Bank.

The Executive Committee may wish to:

1. Note the reconciliation of 2002 accounts as presented in UNEP/OzL.Pro/ExCom/43/52.

2. Note that the Treasurer would make the appropriate adjustments to account for the additional interest reported by UNDP and the audited level of initial start-up costs as indicated by UNDP to be US $596,500. 

3. Request bilateral agencies that advance funds to implementing agencies that are placed in interest bearing accounts, to return the interest collected as additional income to the Multilateral Fund. 

4. Offset the US $21,290,851 in excess income held by the World Bank based on its provisional account, pending the submission of the World Bank’s audited 2002 accounts against approvals at the current meeting.