Decision 70/24

The Executive Committee decided:

1. To take note of the Fund’s 2012 provisional accounts contained in document UNEP/OzL.Pro/ExCom/70/56;
2. To note:
   1. That the 2012 final accounts of the Fund would be submitted to the Committee at the 71^st meeting and that further adjustments would be introduced as required;
   2. The actions taken by the Treasurer in 2012 to reflect the adjustments resulting from the reconciliation of the 2011 accounts exercise;
   3. The following responses provided by the Treasurer as a follow-up to decision 68/43(c)(i):
      1. A decision on the methodology to be adopted to integrate the accounts of the Fund with those of UNEP was still pending the outcome of discussions involving UNEP, the International Public Sector Accounting Standard team at United Nations headquarters, and the United Nations Board of Auditors;
      2. A footnote reflecting the outstanding contribution of the Russian Federation was not necessary in the light of accounting standards, rules and practices, according to which any outstanding contributions not written off were maintained in the outstanding contributions category of the accounts;
      3. The issue of recording only the audited financial statements of UNIDO and the World Bank instead of their provisional accounts, as was currently the practice, was pending further discussions on the subject with the new external audit team from the National Audit Office of the United Republic of Tanzania;
3. As UNEP had not yet addressed the issue of mitigating exchange rate risks, to request the Treasurer to follow the matter up with UNEP, as requested by decision 68/43(c)(i)e, and to report back at the 71^st meeting;
4. To note the response provided by UNEP, as implementing agency, as a follow-up to decision 68/43(c)(ii), on its current practices and procedures relating to cash advances; and
5. To request UNEP to update the Committee at its 71^st meeting on the procedures set by the UNEP-wide standard on cash advances and the potential impact on Multilateral Fund-funded project implementation.