Chapter

APPENDIX XV. Administrative Budget

Author(s):
International Monetary Fund
Published Date:
September 1948
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Letter Of Transmittal

July 28, 1948 Dear Mr. Chairman:

The administrative budget of the Fund for the fiscal year ending April 30, 1949, as approved by the Board of Executive Directors, is reported herein for the information of the Board of Governors in accordance with Section 20 of the By-Laws.

The budget of $4,187,000 for the Fiscal Year 1949 includes an amount of $472,000 for contributions to staff benefits. Of this amount $462,000 represents the Fund’s share of the cost of establishing, within the fiscal year, a joint-contribution retirement plan with retroactive effect. Provision for this retroactive effect was made in the budget for the Fiscal Year 1948. The retirement plan was approved in principle in April 1948, but since its formal establishment falls in the Fiscal Year 1949, the amount of $227,000 to cover the service of staff members prior to the beginning of the fiscal year is brought into the present budget, which would otherwise have totaled $3,960,000. The budget also includes the amount of $36,000 for the liquidation of prior-year commitments.

As in the case of last year, it must be remarked that it is impossible to predict that the needs of the Fund will require precisely the amounts budgeted. These amounts are an expression of present administrative plans without provision for unforeseen contingencies and after the exclusion by the Board of Executive Directors and the Management of projects which would have been useful but which were subordinated in the interest of economy. Should such contingencies arise or present plans change materially, the amounts now budgeted may have to be changed.

Yours sincerely,

/s/

GUTT

Chairman of the Executive Board

Chairman of the Board of Governors

International Monetary Fund

APPENDIX XV Administrative Budget Fiscal Year Ending April 30, 1949

AS APPROVEDBYTHE EXECUTIVE DIRECTORSOF THE INTERNATIONAL MONETARY FUND

Personal Services$2,568,000
Contributions to Staff Benefits472,000*
travel270,000
Communication Services84,000
Rents (Real Property), Utilities and Building Alterations383,300
Books and Printing134,500
Supplies and Equipment167,800
Meetings of the Board of Governors74,000
Miscellaneous33,400
TOTAL$4,187,000

This includes $227,000 reappropriated to cover the Fund’s contributions under the Staff Retirement Plan for the service of staff members prior to the beginning of the Fiscal Year.

This includes $227,000 reappropriated to cover the Fund’s contributions under the Staff Retirement Plan for the service of staff members prior to the beginning of the Fiscal Year.

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