The Fund Secretariat has a responsibility for monitoring activities at different levels. At the individual project level the Secretariat scrutinizes data on the performance of projects reported by the implementing and bilateral agencies.  The Executive Committee oversees the monitoring activities carried out by the Secretariat. The Committee has considered monitoring matters since the Fifth meeting of the Executive Committee in November 1991. By 1995 the Secretariat had developed a standard format for progress reporting which simplified oversight by the Executive Committee.  Standard progress reports are submitted by implementing agencies to the Executive Committee once a year.  Projects which are experiencing delays and projects with financial balances are monitored more closely and are reported to each Executive Committee meeting.