Decision 47/48

Following a discussion, the Executive Committee decided to approve the following budgets as reflected in Annex XII to the present report:

1. The amount of US $1,023,680 in the revised 2006 budget of the Fund Secretariat totalling US $3,572,455 to cover the 2006 salary component already approved at the 44^th Meeting of the Executive Committee and the 2006 operational costs of the Secretariat, as well as the upgrade of a General Service post from G4 to G5 and an additional P2 post;
2. The amount of US $102,589 in the revised 2007 salary component of the budget totalling US $2,778,803, including an increase of 3.69 per cent as a result of the upgrade of a General Service post from G4 to G5 and the additional P2 post;
3. The proposed 2008 salary component of the budget, totalling US $2,898,976; and
4. That the Secretariat withhold an amount of US $100,000 from its next transfer of US $500,000 to UNEP pursuant to its agreement with UNEP pending the report from the Secretariat on the issue to the 48^th Meeting of the Executive Committee.