10 1 GEO 2013 Financial Statements GEO XI

10. 1 - GEO 2013 Financial Statements GEO XI Plenary 13 -14 November, 2014 Geneva © GEO Secretariat

Introduction • • • Fourth year of International Public Sector Acctg Stds (IPSAS) WMO Finance Support Oversight : Audit Committee, Internal Audit & Ext’l Audit Unqualified external audit opinion Five Statements required by IPSAS: • Sttmt I – Financial Position • Sttmt II – Financial Performance • Sttmt III – Changes in Net Assets /Net Equity • Sttmt IV – Cash Flow • Sttmt V – Comparison of Budget and Actual © GEO Secretariat

Financial position at 31 December 2013 (Statement I) • Total assets have increased by CHF 0. 4 m from CHF 2. 9 m at 31 Dec 2012 (which included cash of CHF 2. 6 m) to CHF 3. 3 m (including cash of CHF 3. 1 m) • Total liabilities have decreased by CHF 0. 3 m from CHF 0. 9 m at 31 Dec 2012 to CHF 0. 6 m (primarily for long-term employee benefits) • As a result of the above changes in total assets and total liabilities the Group’s net assets increased by CHF 0. 7 m during 2013, from CHF 2. 0 m at 31 Dec 2012 to CHF 2. 7 m (approx=cash requirements for 10 months) • Overall: sound financial status

Financial performance in 2013 (Statement II) • 2013 Surplus of CHF 0. 4 m compared to deficit of CHF 0. 2 m in 2012 (however, 2. 0 m carry over) • Revenue of CHF 4. 7 m in 2013, increased from CHF 4. 5 m in 2012 • 2013 expenditure of CHF 4. 3 m, compared to CHF 4. 8 m in 2012. Expenditure well within budget of CHF 5. 9 m • As in previous years, difficult to align expenditure with actual income because of unpredictable timing and amount of contributions; helpful if this could be less unpredictable • Positive effect of valuations of liabilities for employee benefits

Internal & External auditor • Our appreciation to internal and external auditors

Thank you © GEO Secretariat