Chapter

Appendix V. Administrative Budget

Author(s):
International Monetary Fund
Published Date:
September 1974
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Letter of Transmittal

August 5, 1974

My dear Mr. Chairman:

The administrative budget of the Fund approved by the Executive Board for the Fiscal Year ending April 30, 1975 is presented herewith, in accordance with Section 20 of the By-Laws. The presentation also shows actual expenses for the past two fiscal years.

I should like to point out 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 would recommend appropriate amendments to the Executive Board.

Yours sincerely,

/s/

H. Johannes Witteveen

Chairman of the Executive Board

Chairman of the Board of Governors

International Monetary Fund

Administrative Budget as Approved by the Executive Board for the Fiscal Year Ending April 30, 1975 Compared with Actual Expenses for the Fiscal Years Ended April 30, 1973 and 1974

(Values expressed in special drawing rights)1

Fiscal Year

Ending

Apr. 30, 1975
Fiscal Year Ended

Apr. 30, 1974
Fiscal Year

Ended

Apr. 30, 1973
Category of ExpenseBudgetRevised

Budget
Actual

Expenses
Actual

Expenses
I. Board of Governors1,402,5802,660,7912,659,8481,335,825
II. Executive Directors Salaries2,074,0282,023,2522,008,0031,990,991
Other compensations and benefits655,698563,681514,894552,089
Travel547,105472,492469,338525,775
Total3,276,8313,059,4252,992,2353,068,855
III. Staff
Salaries19,913,81818,151,37618,150,85016,485,537
Other compensations and benefits7,893,2436,747,1656,669,0066,108,397
Travel4,401,7143,969,3933,914,6633,718,389
Total32,208,77528,867,93428,734,51926,312,323
IV. Special Services to Member Countries3,854,6083,358,2893,280,3883,304,520
V. Other Administrative Expenses
Communications1,347,8701,320,5761,246,8501,248,412
Office occupancy expenses1,318,0271,254,1411,247,1041,032,770
Books and printing934,224795,950762,664792,202
Supplies and equipment827,290809,176802,788652,064
Data processing services891,119759,643741,401740,313
Miscellaneous898,5801,061,7681,020,975882,377
Total6,217,1106,001,2545,821,7825,348,138
Total246,959,90443,947,69343,488,77239,369,661

The administrative budget is expressed in terms of U. S. dollars and converted to SDR equivalents. For the fiscal year ended April 30, 1973 the effective rates were US$1 = SDR 1 for the period May 1-8, 1972 and US$1 = SDR 0.921053 for the period May 9, 1972 through April 30, 1973. For the fiscal year ended April 30, 1974 the effective rates were US$1 = SDR 0.921053 for the period May 1, 1973 through October 17, 1973 and US$1 = SDR 0.828948 for the period October 18, 1973 through April 30, 1974. The administrative budget for the fiscal year ending April 30, 1975 has been established at the rate of US$1 = SDR 0.828948.

Net administrative expenses for the fiscal year ended April 30,1974 totaled SDR 42,488,355 after deduction of SDR 1,000,417 reimbursed to the General Account by assessments levied on the net cumulative allocations of participants in the Special Drawing Account. The comparable figures for the fiscal year ended April 30, 1973 were SDR 38,671,046 and SDR 698,615, respectively.

The administrative budget is expressed in terms of U. S. dollars and converted to SDR equivalents. For the fiscal year ended April 30, 1973 the effective rates were US$1 = SDR 1 for the period May 1-8, 1972 and US$1 = SDR 0.921053 for the period May 9, 1972 through April 30, 1973. For the fiscal year ended April 30, 1974 the effective rates were US$1 = SDR 0.921053 for the period May 1, 1973 through October 17, 1973 and US$1 = SDR 0.828948 for the period October 18, 1973 through April 30, 1974. The administrative budget for the fiscal year ending April 30, 1975 has been established at the rate of US$1 = SDR 0.828948.

Net administrative expenses for the fiscal year ended April 30,1974 totaled SDR 42,488,355 after deduction of SDR 1,000,417 reimbursed to the General Account by assessments levied on the net cumulative allocations of participants in the Special Drawing Account. The comparable figures for the fiscal year ended April 30, 1973 were SDR 38,671,046 and SDR 698,615, respectively.

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