Having considered the comments and recommendations of the Sub-Committee on Monitoring, Evaluation and Finance (UNEP/OzL.Pro/ExCom/37/4, paras. 14 to 16), the Executive Committee decided:
(a) To note the report contained in UNEP/OzL.Pro/ExCom/37/9/Rev.1;
(b) To note the levels of funds being returned to the 37th meeting totalling US $3,712,818 plus support costs as follows by agency: US $299,193 from UNDP and agency support costs of US $38,894; US $69,497 from UNEP and agency support costs of US $9,035; US $493,300 from UNIDO and agency support costs of US $64,128 and US $2,850,828 from the World Bank and agency support costs of US $76,545;
(c) To note that implementing agencies had balances totalling almost US $3,557,800 excluding support costs from projects completed over two years ago, as follows: UNDP (US $681,731 plus support costs); UNEP (US $6,477 plus support costs); UNIDO (US $2,292,145 plus support costs); and the World Bank (US $577,447 plus support costs);
(d) To agree to discuss the issue of offsetting balances from projects completed 24 months previously against new project approvals at a future meeting;
(e) To request the World Bank to return agency support costs for all project savings and cancelled projects as stipulated in Executive Committee Decision 35/13(k), while noting that the issue of the return of agency support costs should be considered in the context of reconciliation of the Accounts of the Multilateral Fund and the implementing agency progress reports.