Chapter

Appendix VIII:

Author(s):
International Monetary Fund
Published Date:
September 1956
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(i) ADMINISTRATIVE BUDGET

Letter of Transmittal

June 29, 1956

My dear Mr. Chairman:

The administrative budget of the Fund approved by the Executive Board for the Fiscal Year ending April 30, 1957 is presented herewith, in accordance with Section 20 of the By-Laws. The presentation also shows actual expenditures for the two past fiscal years.

I should like to reiterate that it is of course impossible to predict whether the amounts budgeted will, in fact, meet the requirements of the Fund’s program. The amounts shown are estimates of requirements on the basis of the expected level of activities. Should contingencies arise or present plans change materially, the management may have to recommend appropriate amendments to the Executive Board.

Yours sincerely,

/s/

Ivan Rooth

Chairman of the Executive Board

Chairman of the Board of Governors

International Monetary Fund

(ii) ADMINISTRATIVE BUDGET

As Approved by the Executive Board for the Fiscal Year Ending April 30, 1957, Compared with Actual Expenditures for the Fiscal Years 1954-55 and 1955-56
F. Y. 1955-56
Category of ExpenditureBudget F. Y. 1956-57BudgetActual ExpendituresActual Expenditures F. Y. 1954-55
I. BOARD OF GOVERNORS$ 177,800$ 347,200$ 347,160.42$ 171,004.44
II. OFFICE OF EXECUTIVE DIRECTORS
Salaries$ 574,000$ 576,000$ 573,529.63$ 544,630.34
Other compensations and benefits84,70085,00082,753.4776,523.33
Travel93,00093,00091,016.0984,219.07
Total$ 751,700$ 754,000$ 747,299.19$ 705,372.74
III. STAFF
Salaries$ 2,700,400$ 2,618,000$ 2,615,438.06$ 2,460,989.38
Other compensations and benefits655,700636,000633.917.97592,132.95
Travel305,000295,000293,231.38283,362.25
Total$ 3,661,100$ 3,549,000$ 3,542,587.41$ 3,336,484.58
IV. OTHER ADMINISTRATIVE EXPENSES
Communications$ 124,000$ 120,000$ 119,219.48$ 116,172.14
Office occupancy expenses402,500411,000408,125.00451,723.85
Books and printing99,90091,00087,487.23103,124.21
Supplies and equipment67,00056,00050,965.9965,663.57
Miscellaneous46,00041,80038,756.6739,825.88
Total$ 739,400$ 719,800$ 704,554.37$ 776,509.65
TOTAL$ 5,330,000$ 5,370,000$ 5,341,601.39$ 4,989,371.41

(iii) COMPARATIVE STATEMENT OF INCOME

(Values expressed in U. S. dollars on the basis of established parities)
YearYearYear
endedendedended
Apr.30,1954Apr.30,1955Apr.30,1956
INCOME
Service charges received in gold$ 1,156,450.00$ 243,750.00$ 193,750.00
Charges on Fund’s holdings of members’ currencies and securities in excess of quotas
Received in gold$ 3,258,252.18$ 1,914,631.83$ 1,110,091.19
Received in members’ currencies414,924.4815,293.1215,043.75
Outstanding91,208.10111,679.02—0—
Total$3,764,384.76$2,041,603.97$1,125,134.94
Income from investments—0——0—$ 123,279.51
Sales of Fund’s publications$ 14,297.18$ 16,088.52—0—1
Other operational income49,654.92244,404.292232,892.352
Miscellaneous income412.91579.07278.74
TOTAL INCOME$4,985,199.77$ 2,346,425.85$ 1,675,335.54
TOTAL ADMINISTRATIVE EXPENDITURE$5,009,158.95$4,989,371.41$5,341,601.39

Proceeds from sales of Fund’s publications deducted from administrative expenditure item “Books and Printing.”

Excludes transfers to Stand-By Charge Reserve for the years 1954 and 1955 of $42,091.77 and $42,091.78, respectively, and includes transfer of $24,810.90 (net) from Stand-By Charge Reserve for year 1956.

Proceeds from sales of Fund’s publications deducted from administrative expenditure item “Books and Printing.”

Excludes transfers to Stand-By Charge Reserve for the years 1954 and 1955 of $42,091.77 and $42,091.78, respectively, and includes transfer of $24,810.90 (net) from Stand-By Charge Reserve for year 1956.

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