Chapter

Appendix VI Administrative Budget

Author(s):
International Monetary Fund
Published Date:
September 1978
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Letter of Transmittal

August 7, 1978

Dear Mr. Chairman:

The administrative budget of the Fund approved by the Executive Board for the financial year ending April 30, 1979 is presented herewith, in accordance with Section 20 of the By-Laws. This year the budget presentation to the Executive Board included for the first time an analysis of costs by program or activity. This analysis was facilitated by modification of the budget categories so as to make them follow more consistently an “object of expense” criteria. The new object of expense categories are shown in Table VI. 1. Actual expenses in the two previous financial years are shown in Table VI.2 according to the categories in use during those 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/

J. de LarosiÈre

Chairman of the Executive Board

Chairman of the Board of Governors International Monetary Fund

Table VI. 1. Administrative Budget as Approved by the Executive Board for the Financial Year Ending April 30, 1979 Compared with Actual Expenses for the Financial Years Ended April 30, 1977 and 1978

(Values expressed in special drawing rights)1

Financial Year

Ended

April 30, 1977
Financial Year

Ended

April 30, 1978
Financial Year

Ending

April 30, 1979
Object of ExpenseActual

Expenses
Revised

Budget
Actual

Expenses
Budget
I.Personnel Expenses
Salaries33,701,366
Other personnel expenses21,323,020
Total55,024,386
II.Travel Expenses
Business travel4,371,611
Other travel3,792,535
Total8,164,146
III.Other Administrative Expenses
Communications1,908,502
Building occupancy2,968,780
Books and printing1,105,137
Supplies and equipment1,276,413
Data processing services1,386,518
Miscellaneous1,325,348
Total9,970,698
Total262,582,33268,437,14967,598,26573,159,230

The administrative budget is expressed in terms of U.S. dollars and converted to SDR equivalents.

Net administrative expenses for the financial year ended April 30, 1977 totaled SDR 60,782,287 after deduction of the amounts reimbursed to the General Resources Account by assessments levied on the net cumulative allocations of participants in the Special Drawing Rights Department (SDR 1,000,045), and for the estimated expenses of conducting the business of the Trust Fund (SDR 800,000). For the year ended April 30, 1978, net administrative expenses amounted to SDR 65,898,262 after similar deductions of SDR 900,003 and SDR 800,000, respectively.

The administrative budget is expressed in terms of U.S. dollars and converted to SDR equivalents.

Net administrative expenses for the financial year ended April 30, 1977 totaled SDR 60,782,287 after deduction of the amounts reimbursed to the General Resources Account by assessments levied on the net cumulative allocations of participants in the Special Drawing Rights Department (SDR 1,000,045), and for the estimated expenses of conducting the business of the Trust Fund (SDR 800,000). For the year ended April 30, 1978, net administrative expenses amounted to SDR 65,898,262 after similar deductions of SDR 900,003 and SDR 800,000, respectively.

Table VI. 2.Actual Administrative Expenses for the Financial Years Ended April 30,1977 and 1978(Values expressed in special drawing rights)
Financial Year

Ended

April 30, 1977
Financial Year

Ended

April 30, 1978
Category of ExpenseActual ExpensesRevised BudgetActual Expenses
I.Board of Governors1,887,9331,450,5591,362,105
II.Executive Directors
Salaries2,762,0922,840,5092,839,448
Other compensations and benefits875,105895,752872,080
Travel956,267766,130725,917
Total4,593,4644,502,3914,437,445
III.Staff
Salaries25,418,22326,555,34526,551,114
Other compensations and benefits13,365,06616,464,81916,256,239
Travel5,001,5035,440,0395,427,524
Total43,784,79248,460,20348,234,877
IV.Special Services to Member/ Countries4,497,6554,942,1884,824,992
V.Other Administrative Expenses
Communications1,686,0651,854,3031,849,114
Office occupancy expenses1,742,8772,124,4122,036,257
Books and printing941,2861,019,525925,580
Supplies and equipment1,121,0401,094,7011,048,139
Data processing services1,181,2481,298,2441,256,271
Miscellaneous1,145,9721,690,6231,623,485
Total7,818,4889,081,8088,738,846
Total62,582,33268,437,14967,598,265

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