Chapter

Appendix D: Report to the Board of Governors Concerning Financial Statement

Author(s):
International Monetary Fund
Published Date:
September 1946
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In accor dance with Section 20 of the Bylaws I am submitting, on behalf of the Executive Directors, the attached Statement of Receipts and Payments for the International Monetary Fund from its inception to June 30, 1946. This statement is for the consideration of the Board of Governors at its annual meeting in September.

Since Operations have not yet commenced, the financial presentation which is being made at this time is limited to the receipts from member countries as provided in Section 2 (d) of Article XX of the Fund Agreement and to payments for administrative expenses.

As required by Section 20 of the Bylaws, an audit of the accounts of the Fund to June 30, 1946, was made by the Assistant Comptroller, Mr. C. M. Powell. The attached Statement of Receipts and Payments was prepared on the basis of this audit, certified correct by the Assistant Comptroller, Mr. C. M. Powell, approved by the Managing Director and ordered by the Executive Directors to be submitted to the Board of Governors.

(S) Camille Gutt,

Managing Director.

International Monetary FundStatement of receipts and payments from inception to June 30, 1946
ReceiptsU.S. dollarsPaymentsU.S. dollars
Subscriptions from member for meeting administrative expenses.$737,250.001.Personal services$48,060.80
Salaries and wages$47,060.80
Expense allowances1,000.00
2.Travel4,335.26
Travel on orders$341.95
Removal travel3,993.31
3.Freight68.00
Freight on personal effects$68.00
4.Communication724.44
Postage$247.00
Telephone385.98
Telegraph91.46
5.Rents and utilities6,874.00
Rents, maintenance and building alterations$6,874.00
6.Books and printing2,011.58
Books, newspapers and periodicals$4.00
Printing and binding2,007.58
7.Supplies and equipment4,664.42
Expendable supplies$1,470.34
Office equipment33.50
Office furnishings3,160.58
8.Miscellaneous0
9.Pension provisions0
Total 1 to 966,738.50
10.Meeting of Governors30,643.38
11.Suspense account—308.53
Total 1 to 1197,073.35
Balance carried forward640,176.65
737,250.00737,250.00
Remarks
1.Net receipts in Suspense Account made up as follows:
Taxes withheld$837.95
Less:Petty cash imprest fund$63.62
Advances against traveling expenses465.80
529.42
Net receipts308.53
2.Cash balance deposited in following banks:
Federal Reserve Bank of New York618,957.40
Riggs National Bank of Washington21,219.25
Balance640,176.65
3.Obligations outstanding on June 30, 1946:
Office Supplies and Equipment54,000.00
Alterations to office building9,000.00
$63,000.00

4. Subscriptions from Member Countries exclude the sum of $2,500.00 due from Peru, which amount was not credited by the Federal Reserve Bank of New York until July 1, 1946.

Certified correct:

(s) C. M. Powell,

Assistant Comptroller.

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