RESTRICTED
GENERAL AGREEMENT
L/763020 June 1995
ON TARIFFS AND TRADE
Limited Distribution(95-1673)
DIRECTOR-GENERAL'S FINANCIAL REPORT ON THE
1994 ACCOUNTS OF THE GENERAL AGREEMENT ON TARIFFS AND TRADE
and
REPORT OF THE EXTERNAL AUDITOR THEREON
DIRECTOR-GENERAL'S FINANCIAL REPORT ON THE
1994 ACCOUNTS OF THE GENERAL AGREEMENT ON TARIFFS AND TRADE
1. The Director-General hereby submits his report on the accounts of the General Agreement on Tariffs and Trade for the financial year ended 31 December 1994. The annual accounts are presented in Swiss francs.GENERAL FUND
Income and Expenditure Account
(Statements 1A, 1B and 2)
(i) Expenditure
2. Appropriations for the financial year 1994 were approved at a level of Sw F 94,140,000 in the context of the regular budget and the Council authorized additional expenditure not to exceed Sw F 3,706,000 under a supplementary budget. Obligations incurred in 1994 under the regular budget amounted to Sw F 93,502,010 leaving a positive balance of Sw F 637,990. Under the supplementary budget, a net amount of Sw F 2,630,951 was expended, bringing total expenditure under both budgets to Sw F 96,132,961 (Statements 1A and 1B). 3. On the basis of a recommendation of the Committee on Budget, Finance and Administration (WT/BFA/4, L/7629), the General Council approved transfers of Sw F 895,558 (WT/GC/M/4) which were necessary to cover excess expenditure over appropriations incurred in Section 2: Meetings of the Council and other meetings; Section 5: Missions; Section 6: Dispute Settlement Panels; Section 10: Permanent Equipment; Section 13: Uruguay Round; and Section 14: Trade Policy Review Mechanism; and Section 15: Replacement of system for simultaneous interpretation in meeting rooms. This amount was covered by savings under the following sections: Section 1: Fiftieth Session of the CONTRACTING PARTIES; Section 3: Salaries; Section 4: Common Staff Costs; Section 7: Common Services; Section 8: Printing; Section 9: Representation and Hospitality; and Section 12: Trade Policy Training Courses. 4. With regard to the supplementary budget, additional expenditure not to exceed Sw F 3,706,000 was authorized, as mentioned in paragraph 2 above. Against this authorization, actual expenditure amounted to Sw F 2,730,951. According to a decision of the Council (C/M/275 paragraph 11) this sum was financed as follows: (i) the utilization of Sw F 100,000 for unforeseen expenditure (Section 16) under the regular budget, (ii) previous balance of the 1993 Surplus Account Sw F 556,143, (iii) budgetary savings for 1994 of Sw F 637,990, (iv) excess of miscellaneous income over estimated Sw F 1,369,015 and (v) withdrawal from the Working Capital Fund of Sw F 67,803. 5. In connection with the running of the Snack-Bar, subsidies in the form of free accommodation, electricity, heating, water supply, insurance premiums, were charged to relevant budget items in 1994. In addition, expenditure of Sw F 9,390 was incurred for the purchase and maintenance of canteen equipment.(ii) Income
(a) Contributions
6. At the adoption of the income budget, contributions for 1994 were assessed on contracting parties in the amount of Sw F 92,900,000. Subsequently, contributions were assessed on Angola (Sw F 74,320), Bahrain (Sw F 102,190), Brunei Darussalam (Sw F 46,450), Djibouti (Sw F 27,870),Fiji (Sw F 27,870), Grenada (Sw F 27,870), Guinea (Sw F 27,870), Guinea-Bissau (Sw F 27,870), Honduras (Sw F 20,234), Liechtenstein (Sw F 21,151), Papua New Guinea (Sw F 37,160), Paraguay (Sw F 27,412), Qatar (Sw F 74,320), Saint Kitts and Nevis (Sw F 27,870), Slovenia (Sw F 23,670), Solomon Islands (Sw F 27,870), and the United Arab Emirates (Sw F 445,920). In addition, as the contribution assessed on Switzerland was based on trade statistics which included those of Liechtenstein, the contribution of the former was reduced by Sw F 21,151. Collections as at 31 December 1994 in respect of 1994 contributions represented Sw F 89,325,563 (including interest of Sw F 704,754 earned by the Contracting Parties in 1992 in the context of the Early Payment Encouragement Scheme).(b) Miscellaneous Income
|
1993 |
1994 |
|
|
Sw F |
Sw F |
|
|
Sale of publications |
245,868 |
716,484 |
|
Profit or (loss) on exchange |
(2,994) |
64,960 |
|
Savings on previous year's outstanding obligations |
97,835 |
280,311 |
|
Refund of staff costs for staff employed at Centre William Rappard on behalf of other occupants |
975,212 |
1,046,467 |
|
Overhead on Trust Funds |
40,764 |
- |
|
Rental of meeting rooms and office space at Centre William Rappard to others |
19,300 |
19,670 |
|
Observer countries document services |
24,763 |
134,011 |
|
Interest on current account |
85,338 |
78,442 |
|
Various |
69,656 |
268,670 |
|
Total 1,555,742
|
2,609,015 |
Sw F
Refund of prior year's expenditure 42,712
Work done for delegations and others 207,640
Miscellaneous income (paper recycling, photocopies, etc.) 18,318
Total 268,670
9. No provision was included for income on investments pursuant to the Council's approval (C/M/226) of the Budget Committee's recommendation (L/6384) to introduce a system to encourage early payment of contributions whereby interest earned on current year contributions would be refunded to contracting parties on the basis of calculations which take account of the amount and date of payment. Schedule A shows the apportionment of the amount of Sw F 645,184 earned as interest in 1994. The apportioned amounts will be deducted from the relevant contracting parties' assessed contributions for 1996.SURPLUS ACCOUNT
(Statement 3)
(i) Debits
(ii) Credits
11. The balance of the Surplus Account stood at Sw F 556,143 at 1 January 1994. The unutilized provision of Sw F 58,347 for the correction of General Service category salary scales was credited to the Account in 1994. Contributions assessed on new contracting parties subsequent to the adoption of the 1994 scale of contributions amounted to Sw F 1,046,766, while the overall 1994 budgetary deficit amounted to Sw F 1,992,961 (a positive balance of Sw F 637,990 under the regular budget less net expenditure of Sw F 2,630,951 under the supplementary budget). The excess of miscellaneous income over estimates was Sw F 1,369,015. The preceding thus led to an accumulated deficit of Sw F 790,843 at 31 December 1994.
STATEMENT OF ASSETS AND LIABILITIES: GENERAL FUND
(Statement 4)
(i) Assets
(a) Cash and Investments
12. At 31 December 1994 cash in hand represented Sw F 5,000, cash at bank and in postal cheques account amounted to Sw F 1,115,095. Investments held on 31 December 1994 were Sw F 2,472,188.(b) Contributions receivable from contracting parties
13. Contributions receivable from contracting parties amounted to Sw F 21,119,841 at 31 December 1994 as shown in Schedule B, compared with Sw F 19,578,337 at the end of 1993.(c) Miscellaneous accounts receivable
14. Miscellaneous accounts receivable at 31 December 1994 totalled Sw F 3,927,420. This amount included advances in respect of education grants: Sw F 629,275; sales of publications and services: Sw F 1,679,080; prepaid 1995 expenditure: Sw F 549,620; Marrakesh Ministerial Meeting: Sw F 354,342; recoverable Swiss taxes: Sw F 285,012; US taxes: Sw F 225,649; travel invoicing: Sw F 26,077; accrued interest: Sw F 24,951; insurance premiums: Sw F 73,500; travel advances: Sw F 18,729; and miscellaneous items: Sw F 61,185.
(ii) Liabilities
(a) Accounts payable
(b) Interest to be distributed to contracting parties
(c) Contributions paid in advance
17. Advance receipts pertaining to 1995 assessments amounted to Sw F 873,146.(d) Outstanding obligations as at 31 December 1994
18. The outstanding obligations amounted to Sw F 4,759,027, of which Sw F 3,638,612 came under the regular budget and Sw F 1,120,415 under the supplementary budget.This total amount covered the following: common services: Sw F 1,181,010; common staff costs: Sw F 1,051,464; salaries: Sw F 273,170; printing: Sw F 359,942; missions: Sw F 26,547; replacement of interpretation system: Sw F 26,846; permanent equipment: Sw F 70,770; dispute settlement panels: Sw F 7,154; Trade Policy Training Courses: Sw F 23,135, Uruguay Round: Sw F 524,105, Trade Policy Review: Sw F 199,652, CWR South Wing: Sw F 1,000,000 and miscellaneous: Sw F 15,232.(e) Provision for contributions in arrears
19. Sw F 21,119.841 covered all contributions in arrears as at 31 December 1994.(f) Trainees' Accommodation Fund
20. This Fund was created in 1982 by the Nordic countries to cover excess accommodation costs for participants in GATT Trade Policy Training Courses. Expenditure incurred against this fund in 1994 amounted to Sw F 3,854 leaving a balance of Sw F 12,469 as at 31 December 1994 (see paragraph 29 below).
STATEMENT OF ASSETS AND LIABILITIES: WORKING CAPITAL FUND
(Statement 5)
21. The principal of the Working Capital Fund stood at Sw F 6,555,111 at 31 December 1994. An amount of Sw F 4,164,392, of which Sw F 239,118 represents interest earned on investments in 1994, was held to the credit of the GATT. Advances made by contracting parties stood at Sw F 1,966,919 on 1 January 1994. Advances by new contracting parties in 1994 totalled Sw F 423,800, bringing the total of advances by contracting parties to Sw F 2,390,719 at 31 December 1994.TRUST FUND FOR WORKSHOPS ON NEGOTIATION TECHNIQUES
(Statement 6)
22. Workshops on Negotiation Techniques have been organized for the 77th and 78th Trade Policy Training Courses under the financial sponsorship of the Government of Switzerland. These workshops took place in March and September 1994. The Sw F 12,000 expended in 1994 will be reimbursed by the sponsoring Government.TRUST FUND FOR SEMINAR ON GATT AND THE URUGUAY ROUND FOR
LEAST-DEVELOPED COUNTRIES
(Statement 7)
23. A Seminar on GATT and the Uruguay Round for least-developed countries was held in 1992 in Geneva under the financial sponsorship of the Government of Norway. The balance of Sw F 513 available on 1 January 1994 was refunded to the sponsoring Government, leaving a nil balance on 31 December 1994.PARTICIPATION OF JOURNALISTS FROM DEVELOPING COUNTRIES
TO THE MARRAKESH MEETING
(Statement 8)
24. Under the financial sponsorship of Switzerland, Hong Kong, Japan and Sweden, a trust fund was established to facilitate the participation of journalists from developing countries at the Marrakesh Meeting in 1994. Payments amounted to Sw F 53,889 and were financed by funds received in 1994 of Sw F 45,260 as well as a balance of a Sw F 8,629 from a trust fund from Japan (see Statement 12). There was thus a nil balance on 31 December 1994.TRUST FUND FOR SPECIAL TRADE POLICY TRAINING COURSE FOR
EASTERN AND CENTRAL AND EUROPEAN COUNTRIES
(Statement 9)
25. In 1994, the Fourth Special Trade Policy Training Course for Eastern and Central European countries was held in Geneva under the financial sponsorship of the Government of Switzerland. Against an amount of Sw F 300,000 received from the sponsoring Government, payments of Sw F 299,778 were made in 1994, leaving a balance available at the end of the year of Sw F 222.
TRUST FUND FOR A BRIEFING WORKSHOP ON THE URUGUAY ROUND
FOR AFRICAN, CARIBBEAN AND PACIFIC COUNTRIES
(Statement 10)
26. A workshop on the Uruguay Round for African, Caribbean and Pacific countries was held in Geneva in December 1992 under the financial sponsorship of the European Communities Commission. No payments were made against this trust fund in 1994, leaving the opening balance of Sw F 11,276 intact at 31 December 1994.TRUST FUND FOR TRADE POLICY ADVISORY
MISSION FOR BALTIC COUNTRIES
(Statement 11)
27. The Government of Sweden provided Sw F 54,101 in 1993 to finance missions of the Secretariat to Baltic countries to consult with senior policy makers on trade policy. At 1 January 1994, a balance of Sw F 13,621 was available. Payments in the course of the year totalled Sw F 8,664, leaving a balance available as at 31 December 1994 of Sw F 4,957.TRUST FUND FOR A REGIONAL WORKSHOP ON THE URUGUAY ROUND
FOR ASIAN DEVELOPING COUNTRIES
(Statement 12)
28. The Government of Japan provided in 1993 Sw F 121,000 for a regional workshop on the Uruguay Round for Asian developing countries which was held in Bangkok in early 1993. The balance of Sw F 8,629 available on 1 January 1994 was transferred in 1994 to the Trust Fund for Participation of Journalists from Developing Countries to the Marrakesh Meeting (see Statement 8).TRAINEES' ACCOMMODATION FUND
(Statement 13)
29. From the balance of Sw F 16,323 on 1 January 1994, made available by the Governments of Finland, Norway and Sweden, Sw F 3,854 were expended in 1994 to cover additional accommodation costs for participants in the 76th Trade Policy Training Course study tour in Norway and the Seventh Workshop on Anti-Dumping and Countervailing Duty for Developing Countries held in Bangkok. At 31 December 1994, Sw F 12,469 remained available.TRUST FUND FOR A REGIONAL WORKSHOP ON THE URUGUAY ROUND
FOR ASIAN DEVELOPING COUNTRIES
(Statement 14)
30. The Government of Japan provided Sw F 121,000 in 1994 for a Trust Fund for a Regional Workshop on the Uruguay Round for Asian Developing Countries. This amount remained available at 31 December 1994; the seminar is taking place in early 1995.
TRUST FUND FOR A TRAINING PROJECT FOR EGYPTIAN OFFICIALS
(Statement 15)
31. The International Bank for Reconstruction and Development provided Sw F 214,500 in 1994 for a training project for Egyptian officials. Payments amounting to Sw F 151,724 were recorded against this trust fund in 1994, leaving a balance available at the end of the year of Sw F 62,776.TRUST FUND FOR A GATT SYMPOSIUM ON TRADE, ENVIRONMENT AND
SUSTAINABLE DEVELOPMENT FOR NON-GOVERNMENTAL ORGANIZATIONS (NGOs)
(Statement 16)
32. The Ford Foundation provided Sw F 107,250 in 1994 for a GATT Symposium on Trade, Environment and Sustainable Development for NGOs. Sw F 106,548 were expended for this purpose in 1994 and the balance of Sw F 702 was refunded to the Foundation, leaving a nil balance in the account at 31 December 1994.TRUST FUND FOR THE TRANSLATION OF THE FINAL ACT OF THE
URUGUAY ROUND
(Statement 17)
33. The State of Kuwait and the Arab Republic of Egypt provided Sw F 17,700 for the translation of the Final Act of the Uruguay Round into Arabic. The costs of the project amounted to Sw F 28,786, leaving on 31 December 1994 an amount of Sw F 11,086 still to be received from Egypt.TRUST FUND FOR A SPECIAL GATT COURSE FOR OFFICIALS
FROM THE RUSSIAN FEDERATION AND UKRAINE
(Statement 18)
34. A special GATT course for officials from the Russian Federation and the Ukraine was organized in 1994 and sponsored by the United States Agency for International Development. An amount of Sw F 252,390 was expended for this purpose and at 31 December 1994 was to be received from the Sponsoring Agency.NON-EXPENDABLE EQUIPMENT
35. The value at cost at the time of acquisition through the GATT budget of furniture, and permanent equipment still in use amounted to Sw F 7,426,954 at 31 December 1994, as noted on the Statement of Assets and Liabilities (Statement 4).
(Signed) (Signed)
Renato Ruggiero Jacques Chabert
Director-General Director
Finance and General Services Division
REPORT OF THE EXTERNAL AUDITOR ON THE ACCOUNTS OF
THE GENERAL AGREEMENT ON TARIFFS AND TRADE
FOR THE YEAR ENDED 31 DECEMBER 1994
General
1. In accordance with decisions of the CONTRACTING PARTIES, the Financial Regulations and Rules of the United Nations are, as far as appropriate and for the time being, applied to the financial administration of the Secretariat to the General Agreement on Tariffs and Trade. The examination has been carried out in accordance with those regulations and rules and with the financial resolutions and decisions of the CONTRACTING PARTIES.
Outturn in 1994
2. Appropriations originally authorized by the CONTRACTING PARTIES for 1994 were Sw F 94,140,000 under the regular budget and Sw F 3,706,000 under a supplementary budget. (Statements 1A and 1B). The regular budget was to be financed by contributions of Sw F 92,900,000 and estimated miscellaneous income of Sw F 1,240,000. It was decided (C/M/275, paragraph 11) that the supplementary budget would be financed by using the amount of Sw F 100,000 provided under Section 16 (Unforeseen Expenditure) of the regular budget, the balance available under the 1993 Surplus Account, any budgetary savings which might be realized on the 1994 regular budget, and withdrawal from the Working Capital Fund.
3. The expenditure in 1994 under the regular budget of Sw F 93,502,010 was Sw F 637,990 less than that budgetary appropriation of Sw F 94,140,000 authorized by the CONTRACTING PARTIES. Net expenditure under the supplementary budget was Sw F 2,630,951. The total expenditure is composed of regular 1994 expenditure of Sw F 96,132,961, the advance disbursement made in 1993 for the correction of the General Service salary scales Sw F 226,038 and the final settlement of Sw F 321,653. The total excess of income over expenditure totalled Sw F 422,820 (Statement 2).
4. In 1993, a provision for the correction of General Service category salary scales amounting to Sw F 606,038 was formed within the Surplus Account. A part of the provision amounting to Sw F 226,038 was disbursed in 1993. In 1994, a further Sw F 321,653 were disbursed and an amount of Sw F 58,347 was - because not needed - credited to the Surplus Account.
5. The total disbursement of Sw F 547,691 was included in the total expenditures 1994 (Statement 2) in order to have these amounts show in the corresponding expenditure amounts. As these amounts were already recorded in the Surplus Account 1993, the overall amount was again neutralized in the total expenditures 1994 (Statement 2).
6. In the opinion of the auditor, a trust fund might preferably be set up for similar cases in the future.
Outstanding Contributions
7. The claim vis-à-vis a contracting party concerning outstanding contributions for the years 1987 to 1992 to the amount of Sw F 286,279 was written off pursuant to a decision by the CONTRACTING PARTIES (SR.50/2). For this, a part of the provision for contributions in arrears was utilized.
8. Contributions outstanding at 31 December 1994 totalled Sw F 21,119,841 (Schedule B). This was Sw F 1,541,504 more than at 31 December 1993. The provision for contributions in arrears was increased as necessary.
Supplies, Equipment and Stock Records
9. Test examinations of the supplies, equipment and stock records maintained by the Secretariat were carried out by the Auditor with generally satisfactory results.
Outstanding Obligations
10. An amount of Sw F 1,000,000 was budgeted for renovation work related to the intended takeover of the CWR South Wing. At the year end, due to unexpected delays in the takeover, this amount was shown as an outstanding obligation.
_______________
11. I wish to record my appreciation of the willing co-operation given by the officers of the Secretariat during the examination.
(Signed)
Franz Fiedler
President of the Austrian Court of Audit
OPINION OF THE EXTERNAL AUDITOR ON THE ACCOUNTS OF THE
GENERAL AGREEMENT ON TARIFFS AND TRADE FOR THE FINANCIAL
YEAR ENDED 31 DECEMBER 1994
I have examined the appended Financial Statements, comprising Statements 1 to 18, Schedules A, B and C and Annex, of the General Agreement on Tariffs and Trade for the year ended 31 December 1994. My examination included a general review of the accounting procedures and such tests of the accounting records and other supporting evidence as I considered necessary in the circumstances. As a result of the examination, I am of the opinion that these statements, which were prepared in conformity with the accounting policies described in the Annex applied on a basis consistent with that of the preceding financial period, present fairly the financial position of the General Agreement on Tariffs and Trade as at 31 December 1994. They properly reflect the financial transactions for the financial period, which transactions were in accordance with the applied Financial Regulations and Rules and legislative authority and with the financial resolutions and decisions of the CONTRACTING PARTIES to the General Agreement on Tariffs and Trade.
(Signed)
Franz Fiedler
President of the Austrian Court of Audit
pages 12-13 missing
STATEMENT 2
GENERAL AGREEMENT ON TARIFFS AND TRADE
Income and Expenditure Account for the Year Ended 31 December 1994
(in Swiss francs)
EXPENDITURE INCOME
Expenditure 96,680,652 Contributions assessed on contracting parties 92,900,000
Contributions assessed on contracting parties
Less expenditure incurred against 1993 provision: subsequent to the adoption of the 1994 scale
Advance disbursement made in 1993 (226,038) of contributions: 1,046,766
Final disbursement made in 1994 (321,653)
Miscellaneous:
1994 Expenditure (Statement 1A and Statement 1B) 96,132,961
Sale of publications and souvenirs 716,484
Profit on exchange 64,960
Savings on previous year's outstanding obligations 280,311
Refund of staff costs for staff employed at Centre
William Rappard on behalf of other occupants 1,046,467
Rental of meeting rooms and office space at
Centre William Rappard to others 19,670
Observers - document services 134,011
Interest on current accounts 78,442
Excess of income over expenditure 422,820 Various 268,670 2,609,015
96,555,781 96,555,781
(Signed) (Signed)
________________________________________ ___________________________________
Renato Ruggiero Jacques E. Chabert
Director- General Director
Finance and General Services Division
STATEMENT 3
GENERAL AGREEMENT ON TARIFFS AND TRADE
Surplus Account for the year ended 31 December 1994
(in Swiss francs)
DEBITS CREDITS
Increase of provision for Balance as at 1 January 1994 556,143
contributions in arrears 1,827,783
Unutilized provision for the correction of
Write-off of irrecoverable invoices 370 General Service category salary scales
58,347
Excess income over expenditure:
Contributions assessed on contracting parties subsequent
to the adoption of the 1994 scale of contributions:
Angola 74,320
Bahrain 102,190
Brunei Darussalam 46,450
Djibouti 27,870
Fiji 27,870
Grenada 27,870
Guinea 27,870
Guinea-Bissau 27,870
Honduras 20,234
Liechtenstein * -
Papua New Guinea 37,160
Paraguay 27,412
Qatar 74,320
Saint Kitts and Nevis 27,870
Slovenia 23,670
Solomon Islands 27,870
United Arab Emirates 445,920 1,046,766
1994 budgetary deficit:
Positive balance regular budget 637,990
Supplementary budget expenditure (2,630,951) (1,992,961)
Excess of actual miscellaneous income over estimated
miscellaneous income 1,369,015 422,820
Transfer from Working Capital Fund:
Financing of the 1994 supplementary budget 67,803
_______ Accumulated deficit on 1994 regular activities 723,040 790,843
1,828,153 1,828,153
* The original assessment on Switzerland was divided between Switzerland (Sw F 1,855,429 and Liechtenstein (Sw F 21,151) when the latter became a contracting party on 29 March 1994 (L/7483, paragraphs 30-31).
(Signed) (Signed)
___________________________________ ___________________________________
Renato Ruggiero Jacques E. Chabert
Director-General Director
Finance and General Services Division
STATEMENT 4
GENERAL AGREEMENT ON TARIFFS AND TRADE
Statement of Assets and Liabilities as at 31 December 1994
GENERAL FUND
(in Swiss francs)
ASSETS LIABILITIES
Cash in hand 5,000 Accounts payable:
Miscellaneous accounts payable 453,421
Cash at bank and in postal cheques account 1,115,095
Balance available on Trust Funds:
Investments (Schedule C) 2,472,188 Switzerland (Statement 9) 222
European Communities Commission (Statement 10) 11,276
Contributions receivable from contracting parties Sweden (Statement 11) 4,957
(Schedule B) 21,119,841 Trainees' Accommodation Fund (Statement 13) 12,469
Japan (Statement 14) 121,000
Miscellaneous accounts receivable 3,573,078 IBRD (Statement 15) 62,776
Contributions receivable from Morocco Interest earned in 1993 and 1994 to be distributed to contracting parties: 1993 851,216
for the Ministerial Meeting 354,342 1994 645,184 1,496,400
Contributions receivable for Trust Funds:
Switzerland (Statement 6) 12,000
Arab Republic of Egypt (Statement 17) 11,086 Contributions paid in advance by contracting parties 873,146
USAID (Statement 18) 252,390 Payments made in advance by U.N. against GATT invoices 485
Reserve for 1994 obligations outstanding as at 31 December 1994 4,759,027
Provision for contributions in arrears 21,119,841
28,915,020 28,915,020
Notes: 1) Furniture equipment and vehicles are charged to the budget at time of purchase; the value at cost of items still held at 31 December 1994 was Sw F 7,426,954
2) Stocks of publications, for sale and free distribution, and other expendable stores were also held.
(Signed) (Signed)
_____________________________ _____________________________
Renato Ruggiero Jacques E. Chabert
Director-General Director
Finance and General Services Division
STATEMENT 5
GENERAL AGREEMENT ON TARIFFS AND TRADE
Statement of Assets and Liabilities as at 31 December 1994
WORKING CAPITAL FUND
(in Swiss francs)
ASSETS LIABILITIES
Investments (Schedule C) 5,339,623 Principal of Fund:
Receivable from contracting parties 424,645 Sums held to the credit of GATT
Advance to cover 1994 deficit: Balance as at 1 January 1994 3,925,274
Financing of the 1994 Interest on investments during 1994 239,118 4,164,392
Supplementary budget 67,803
Advances made by contracting parties
Accumulated deficit as at 1 January 1994 1,966,919
1994 regular activities 723,040
New contracting parties in 1994:
790,843
Angola 30,203
Djibouti 30,961
Grenada 29,608
Guinea 30,961
Guinea-Bissau 29,756
Honduras 30,203
Liechtenstein 30,203
Papua New Guinea 30,961
Paraguay 29,461
Qatar 30,203
Saint Kitts and Nevis 29,756
Slovenia 30,807
Solomon Islands 30,961
_______ United Arab Emirates 29,756 423,800 2,390,719
6,555,111 6,555,111
(Signed) (Signed)
_____________________________ _____________________________
Renato Ruggiero Jacques E. Chabert
Director-General Director
Finance and General Services Division
STATEMENT 6
GENERAL AGREEMENT ON TARIFFS AND TRADE
Trust Fund for Workshops on Negotiations Techniques
Financed by Switzerland
Statement of Account as at 31 December 1994
(in Swiss francs)
EXPENDITURE INCOME
Payments made in 1994: Balance as at 1 January 1994 NIL
77th Trade Policy Course 6,000
78th Trade Policy Course 6,000 Funds to be received 12,000
12,000 12,000
(Signed) (Signed)
_____________________________ _____________________________
Renato Ruggiero Jacques E. Chabert
Director-General Director
Finance and General Services Division
STATEMENT 7
GENERAL AGREEMENT ON TARIFFS AND TRADE
Trust Fund for Seminar on GATT and the Uruguay Round for Least-Developed Countries
Financed by Norway
Statement of Account as at 31 December 1994
(in Swiss francs)
EXPENDITURE INCOME
Payments made in 1994: Balance as at 1 January 1994 513
Refund of balance 513
Balance available as at 31 December 1994 NIL ___
513 513
(Signed) (Signed)
_____________________________ _____________________________
Renato Ruggiero Jacques E. Chabert
Director-General Director
Finance and General Services Division
STATEMENT 8
GENERAL AGREEMENT ON TARIFFS AND TRADE
Trust Fund for the Participation of Journalists from Developing Countries to the Marrakesh Meeting
Financed by Switzerland, Hong Kong, Japan, Sweden
Statement of Account as at 31 December 1994
(in Swiss francs)
EXPENDITURE INCOME
Payments made in 1994: Funds received in 1994 45,260
Ministerial Meeting held in Balance from Japan Trust Fund (Statement 12) 8,629
Marrakesh 53,889
Balance available as at 31 December 1994 NIL
53,889 53,889
(Signed) (Signed)
_____________________________ _____________________________
Renato Ruggiero Jacques E. Chabert
Director-General Director
Finance and General Services Division
STATEMENT 9
GENERAL AGREEMENT ON TARIFFS AND TRADE
Trust Fund for Special Trade Policy Training Course for Eastern and Central European and Central Asian Countries
Financed by Switzerland
Statement of Account as at 31 December 1994
(in Swiss francs)
EXPENDITURE INCOME
Payments made in 1994: Balance as at 1 January 1994 NIL
4th Special Trade Policy Training Course
held in Geneva 299,778
Balance available as at 31 December 1994 222 Funds received in 1994 300,000
300,000 300,000
(Signed) (Signed)
____________________________________ ___________________________________
Renato Ruggiero Jacques E. Chabert
Director- General Director
Finance and General Services Division
STATEMENT 10
GENERAL AGREEMENT ON TARIFFS AND TRADE
Trust Fund for a Briefing Workshop on the Uruguay Round for African, Caribbean, and Pacific Countries
Financed by the European Communities Commission
Statement of Account as at 31 December 1994
(in Swiss francs)
EXPENDITURE INCOME
Balance available as at 31 December 1994 11,276 Balance as at 1 January 1994 11,276
11,276 11,276
(Signed) (Signed)
____________________________________ __________________________________________
Renato Ruggiero Jacques E. Chabert
Director- General Director
Finance and General Services Division
STATEMENT 11
GENERAL AGREEMENT ON TARIFFS AND TRADE
Trust Fund for the Trade Policy Advisory Mission for Baltic Countries
Financed by Sweden
Statement of Account as at 31 December 1994
(in Swiss francs)
EXPENDITURE INCOME
Payments made in 1994: Balance as at 1 January 1994 13,621
Trade Policy Advisory Mission held in
Vilnius,Lithuania 8,664
Balance available as at 31 December 1994 4,957 ____
13,621 13,621
(Signed) (Signed)
_____________________________________________________ ________________________________________________
Renato Ruggiero Jacques E. Chabert
Director- General Director
Finance and General Services Division
STATEMENT 12
GENERAL AGREEMENT ON TARIFFS AND TRADE
Trust Fund for a Regional Workshop on the Uruguay Round for Asian Developing Countries
Financed by Japan
Statement of Account as at 31 December 1994
(in Swiss francs)
EXPENDITURE INCOME
Payments made in 1994: Balance as at 1 January 1994 8,629
Transfer to the Trust Fund for
Journalists (Statement 8) 8,629
Balance available as at 31 December 1994 NIL ____
8,629 8,629
(Signed) (Signed)
____________________________________ __________________________________________
Renato Ruggiero Jacques E. Chabert
Director- General Director
Finance and General Services Division
STATEMENT 13
GENERAL AGREEMENT ON TARIFFS AND TRADE
Trainees' Accommodation Fund (the "Nordic Training Fund")
Financed by Finland, Norway and Sweden
Statement of Account as at 31 December 1994
(in Swiss francs)
EXPENDITURE INCOME
Payments made in 1994: Balance as at 1 January 1994 16,323
Additional expenditure for the
76th Trade Policy Course study tour in
Norway 3,078
7th Workshop on Anti-Dumping and
Countervailing Duty held in Bangkok, Thailand 776
Balance available as at 31 December 1994 12,469 _____
16,323 16,323
(Signed) (Signed)
_____________________________ _____________________________
Renato Ruggiero Jacques E. Chabert
Director-General Director
Finance and General Services Division
STATEMENT 14
GENERAL AGREEMENT ON TARIFFS AND TRADE
Trust Fund for a Regional Workshop on the Uruguay Round for Asian Developing Countries
Financed by Japan
Statement of Account as at 31 December 1994
(in Swiss francs)
EXPENDITURE INCOME
Balance available as at 31 December 1994 121,000 Funds received in 1994 121,000
121,000 121,000
(Signed) (Signed)
_____________________________ _____________________________
Renato Ruggiero Jacques E. Chabert
Director-General Director
Finance and General Services Division
STATEMENT 15
GENERAL AGREEMENT ON TARIFFS AND TRADE
Trust Fund for a Training Project for Egyptian Officials
Financed by I.B.R.D.
Statement of Account as at 31 December 1994
(in Swiss francs)
EXPENDITURE INCOME
Payments made in 1994: Funds received in 1994 214,500
Missions to Egypt by a GATT official 1,087
Services provided by a consultant
in Switzerland and in Egypt 47,381
Training program for Egyptian officials in
Canada, Belgium and Malaysia 84,356
Expenditure for Canadian instructors concerning
a Safeguards Seminar in Egypt 18,535
Bank charges 365 151,724
Balance available as at 31 December 1994 62,776 ______
214,500 214,500
(Signed) (Signed)
_____________________________ _____________________________
Renato Ruggiero Jacques E. Chabert
Director-General Director
Finance and General Services Section
STATEMENT 16
GENERAL AGREEMENT ON TARIFFS AND TRADE
Trust Fund for a GATT Symposium on Trade Environment and Sustainable Development for Non-Governmental Organizations (NGO)
Financed by Ford Foundation
Statement of Account as at 31 December 1994
(in Swiss francs)
EXPENDITURE INCOME
Payments made in 1994: Funds received in 1994 107,250
Symposium held in Geneva 106,548
Refund of balance 702
Balance available as at 31 December 1994 NIL ______
107,250 107,250
(Signed) (Signed)
_____________________________ _____________________________
Renato Ruggiero Jacques E. Chabert
Director-General Director
Finance and General Services Division
STATEMENT 17
GENERAL AGREEMENT ON TARIFFS AND TRADE
Trust Fund for the Translation of the Final Act of the Uruguay Round
Financed by the State of Kuwait and the Arab Republic of Egypt
Statement of Account as at 31 December 1994
(in Swiss francs)
EXPENDITURE INCOME
Payments made in 1994: Funds received in 1994:
Fees of translators and typists 28,786 State of Kuwait 4,500
Arab Republic of Egypt 13,200
_____ Additional funds to be received from the Arab Republic of Egypt 11,086
28,786 28,786
(Signed) (Signed)
_____________________________ _____________________________
Renato Ruggiero Jacques E. Chabert
Director-General Director
Finance and General Services Division
STATEMENT 18
GENERAL AGREEMENT ON TARIFFS AND TRADE
Trust Fund for a Special GATT Course for Officials from the Russian Federation and Ukraine
Financed by the U.S. Agency for International Development
Statement of Account as at 31 December 1994
(in Swiss francs)
EXPENDITURE INCOME
Payments made in 1994: Funds to be received 252,390
Training course held in Geneva 252,390
252,390 252,390
(Signed) (Signed)
_____________________________ _____________________________
Renato Ruggiero Jacques E. Chabert
Director-General Director
Finance and General Services Division
SCHEDULE A/ TABLEAU A/ CUADRO A
1994 EARLY PAYMENT ENCOURAGEMENT SCHEME: INTEREST TO BE DISTRIBUTED/
PLAN VISANT A ENCOURAGER LE PAIEMENT RAPIDE DES CONTRIBUTIONS:
INTERETS A RISTOURNER/ PLAN DE INCENTIVOS PARA EL PRONTO PAGO
DECONTRIBUCIONES: INTERESES A SER REEMBOLSADOS
|
Contracting Parties and Associated Governments/ Parties contractantes et Gouvemements associés/ Partes Contratantes y Gobiernos asociados |
Sw F/FS |
|
Argentina/Argentine |
319 |
|
Australia/Australie |
13,066 |
|
Austria/Autriche |
12,571 |
|
Bahrain/Bahreïn/Bahrein |
59 |
|
Bangladesh |
277 |
|
Barbados/Barbade |
125 |
|
Belgium/Belgique/Bélgica |
24,901 |
|
Belize/Belice |
163 |
|
Benin/Bénin |
123 |
|
Botswana |
39 |
|
Brazil/Brésil/Brasil |
12 |
|
Brunei Darussalam/Brunéi Darussalam |
115 |
|
Canada/Canadá |
39,782 |
|
Colombia/Colombie |
1,348 |
|
Côte d'Ivoire |
579 |
|
Cuba |
35 |
|
Cyprus/Chypre/Chipre |
414 |
|
Czech Republic/ République tchèque/ República Checa |
2,426 |
|
Denmark/Danemark/Dinamarca |
10,782 |
|
Egypt/Egypte/Egipto |
934 |
|
El Salvador |
151 |
|
Finland/Finlande/Finlandia |
5,432 |
|
France/Francia |
57,126 |
|
Germany/Allemagne/Alemania |
91,393 |
|
Greece/Grèce/Grecia |
2,227 |
|
Guyana |
307 |
|
Hong Kong |
31,306 |
|
Hungary/Hongrie/Hungría |
3,051 |
|
Iceland/Islande/Islandia |
498 |
|
India/Inde |
3,005 |
|
Indonesia/Indonésie |
7,877 |
|
Ireland/Irlande/Irlanda |
7,301 |
|
Israel/Israël |
3,030 |
|
Italy/Italie/Italia |
44,977 |
|
Jamaica/Jamïque |
45 |
|
Japan/Japon/Japón |
39,104 |
|
Korea, Republic of/Corée, République de/Corea, República de |
10,444 |
|
Kuwait/Koweït |
526 |
|
Luxembourg/Luxemburgo |
2,840 |
|
Macau/Macao |
431 |
|
Malaysia/Malaisie/Malasia |
1,243 |
|
Maldives/Maldivas |
202 |
|
Malta/Malte |
493 |
|
Mauritius/Maurice/Mauricio |
348 |
|
Mexico/Mexique/México |
5,544 |
|
Morocco/Maroc/Marruecos |
1,522 |
|
Myanmar, Union of/Myanmar, Union du/Myanmar, Unión de |
249 |
|
Netherlands, Kingdom of/Pays-Bas, Royaume des/Países Bajos, Reino de los |
38,620 |
|
New Zealand/Nouvelle-Zélande/Nueva Zelandia |
2,776 |
|
Nigeria/Nigéria |
24 |
|
Norway/Norvège/Noruega |
8,751 |
|
Paraguay |
148 |
|
Philippines/Filipinas |
1,547 |
|
Poland/Pologne/Polonia |
4,099 |
|
Portugal |
1,888 |
|
Qatar |
52 |
|
Singapore/Singapour/Singapur |
9,301 |
|
Slovak Republic/République slovaque/República Eslovaca |
1,329 |
|
South Africa/Afrique du Sud/Sudáfrica |
5,230 |
|
Spain/Espagne/España |
16,295 |
|
Sri Lanka |
521 |
|
Saint Kitts and Nevis/Saint-Kitts-et-Nevis/Saint Kitts y Nevis |
10 |
|
Saint Lucia/Sainte-Lucie/Sainta Lucía |
186 |
|
Swaziland/Swazilandia |
47 |
|
Sweden/Suède/Suecia |
16,613 |
|
Switzerland/Suisse/Suiza |
19,200 |
|
Tanzania/Tanzanie/Tanzanía |
133 |
|
Thailand/Thaïlande/Tailandia |
9,276 |
|
Turkey/Turquie/Turquía |
2,658 |
|
United Kingdom of Great Britain and Northern Ireland/Royaume-Uni de Grande-Bretagne et d'Irlande du Nord/Reino Unido de Gran Bretaña e Irlanda del Norte |
63,506 |
|
United States of America/Etats-Unis d'Amérique/Estados Unidos de América |
13,919 |
|
Zimbabwe |
313 |
|
TOTAL |
645,184 |
Contributions missing p.34-37
Schedule C
GENERAL AGREEMENT ON TARIFFS AND TRADE
Investments held on 31 December 1994
Swiss francs
Deposit accounts with: Amount Interest Maturity Date
Rate %
Swiss Bank Corporation,
Geneva 800,000.00 4 4 January 1995
Swiss Bank Corporation,
Geneva 1,500,000.00 3 3/4 13 January 1995
Swiss Bank Corporation,
Geneva 5,000,000.00 3 3/4 20 January 1995
Swiss Bank Corporation,
Geneva 500,000.00 3 3/4 31 January 1995
Call accounts with:
Scandinavian Bank in
Switzerland, Geneva 6,422.00 2 48 hour call
Banque Populaire Suisse,
Geneva 5,389.00 2 48 hour call
7,811,811.00
(Signed) (Signed)
_____________________________ _________________________________
Renato Ruggiero Jacques E. Chabert
Director-General Director
Finance and General Services Division
ANNEX
STATEMENT OF SIGNIFICANT ACCOUNTING POLICIES
1. Following decisions by the CONTRACTING PARTIES, the accounts of GATT are, as far as appropriate and for the time being, maintained in accordance with the Financial Regulations and Rules of the United Nations, as supplemented or modified by Financial Resolutions and Decisions of the CONTRACTING PARTIES.
2. The accounts are maintained on a fund basis. A General Fund and a Working Capital Fund, supplemented when appropriate by Trust Funds, have been established in accordance with Article VI of the Financial Regulations and Rules of the United Nations.
3. The financial period consists of one calendar year.
4. The accounts are maintained and contributions are assessed in Swiss francs. Assets or liabilities in other currencies are converted to Swiss francs at the official United Nations rate of exchange at the date of the transaction.
5. Gains or losses on exchange are added to or deducted from miscellaneous income.
6. Income, including contributions assessed on contracting parties, and expenditure are accounted for on an accrual basis.
7. Any achieved surplus for the financial year is at the disposal of the CONTRACTING PARTIES.
8. Provisions are made for the entire amount of contributions receivable from contracting parties and for losses and returns in respect of publications sales. A reserve is maintained for all outstanding obligations at the end of the financial year.
9. Fixed assets purchased during the financial year are charged to the budget at the time of purchase. The value at cost of items still held in inventory is recorded in a note on the Statement of Assets and Liabilities.
(Signed) (Signed)
Renato Ruggiero Jacques E. Chabert
Director-General Director
Finance and General Services Division