After some discussion of the issue of cash advances made to implementing agencies before prior advances had been fully utilized, during which the Treasurer recalled that there had been agreement between the implementing agencies and the Executive Committee that such a practice would expedite project implementation; and understanding that the possibility of late reporting would always exist due to the overlap in the closing dates for accounts in UNEP and in the other implementing agencies, the Executive Committee decided:
- To take note of the report on the 2003 accounts of the Multilateral Fund contained in document UNEP/OzL.Pro/ExCom/44/65/Rev.1;
- To continue with the particular practice of recording any changes reported by implementing agencies to a previous period’s expenditures as part of the current period’s transactions as a result of the reconciliation exercise between the Treasurer and the implementing agencies, without prejudice to existing United Nations financial rules and regulations;
- To note that, notwithstanding UNEP’s policy regarding its own fund to the effect that any pledges to the Fund remaining unpaid after four years were written off with the approval of the Governing Council, in the case of the Multilateral Fund, any decision on writing off such unpaid amounts would remain the responsibility of the Meeting of the Parties; and
- To direct the Treasurer to review the pertinent aspects of the implementing agency agreements to address the issue of new cash advances being granted to implementing agencies when old ones had not been fully accounted for.