Resolution
24/71
Reimbursement of Working Capital
Fund
from Cash Surplus 1970-71 for Withdrawal Made in 1972-73
THE CONFERENCE
,
Noting
that the
Council
at its Fifty-Seventh Session had authorized 8 withdrawal from the Working Capital Fund of $1 000 000 to meet unbudgeted costs in the 1972-73 biennium resulting from increases in Headquarters Professional staff remuneration, in Headquarters General Service staff remuneration and from unbudgeted losses due to changes in exchange rates,
Noting
that in accordance with Financial Regulation 6.5(b) advances made from the Working Capital fund shall be reimbursed by such method as the
Conference
determines,
Further
noting
that the
Director General
expected that, provided Member Nations duly paid their contributions in good time, a substantial cash surplus would accrue in the 1970-71 biennium and that such surplus would he adequate to cover the withdrawal referred to in the first paragraph of this resolution, in addition to the Amounts needed to reimburse the Working Capital Fund in respect of withdrawals referred to in Conference Resolution 23/71,
Decides
that, notwithstanding the provisions of Financial Regulation 6.1(b), the balance of such cash surplus as may accrue in the 1970-71 biennium, after reimbursement of the Working Capital Fund in respect of the withdrawals referred to in Conference Resolution 23/71, shall be withheld and used as far as possible and to the extent necessary to reimburse the Working Capital Fund in respect of the above mentioned withdrawal.
(Adopted,
24 november 1971
)