1
UNRWA FINANCIAL REPORT
As at endDecember 2010
Dec 2010 – Index
•
Slides 4 and 5: A brief explanation of the key factors causing variances to UNRWA’s General Fund
(GF) Income Statement in 2010, - slide 4, year to date results as compared to annual budget and
slide 5, November end of year forecast to year to date results.
•
Slides 6 and 7: UNRWA’s December GF Income Statement, identifying for December and Year to
Date (YTD), actual results, budget and variances in a resource format ( ie salaries, travel rent.. etc).
•
Slide 8: GF donor income, per donor country, identifying for the year: annual budget, amount
received variance to budget, foreign exchange impact on amounts received (for non US currencies
– please note UNRWA functional currency is the USD), total amount received variance to budget (ie
net of FX impact) and total 2010 income received per donor country. Please note foreign exchange
(FX) variance is due to the difference between the actual monthly spot rate (as monthly advised by
the UN) less the (fixed) budgeted rate, times the actual amount received. UNRWA cannot influence
the FX variances as reported with donor income, the budgeted rate is set and fixed before the
commencement of the financial year and the monthly spot rate is set by international capital
markets – hence, inevitably there will always be FX variance as reported with income. UNRWA can,
and did in late 2010, undertaken FX hedge agreements with banks to minimize future FX variance,
however, the financial impact of the hedges is reported against the “ financial derivatives
(gain)/losses” line in the Income Statement.
•
Slide 9 Donor Income, same aggregate numbers as Slide 8, however presented in a manner which
identifies: i) total income received by donor up to the budgeted amount ($398.2m) and ii) amount
received per donor in excess of budget amount ($105.1m).
•
Slide 10 Total GF expenditure for 2010 per Programme
•
Slide 11 Total GF expenditure in terms of Human Development Goal (HDG)
•
Slide 12 Brief explanations on sources and types of FX movements
•
Slide 13 Identification of UNRWA bank balances at the end of the year per currency.
2
Dec 2010 – Index
•
Slide 14 Identification of opening and closing cash balance for 2010 along with a reconciliation of
movement from reported Income Statement surplus (+$4.2m) to closing cash balance ($79.5m).
•
Slide 15 Table identifying performance of UNRWA’s Provident Fund ( ie 401k or Superannuation
etc) for 2010 and historical performance from 2000.
•
Slide 16 Table identifying key reasons for financial variances for both the Total Programme and the
downsized budget.
•
Slide 17 List of Appendices
•
Slides 18,19 and 20 reports UNRWA total operating expenditure, not in terms of an Income
Statement but in terms of Programme and Sub Programme expenditure. Slides 6 & 7 total YTD
operating expenditure is $546.7m, add capitalization/depreciation ( Cr of $1.6m), is the total
operating expenditure in the Programme/Sub Programme report, $545.1m. Please note
depreciation/capitalization is posted to cost centres & thus included in this report. In 2011 the
Income Statement & Programme report financial results will be identical.
•
Slides 21, 22 and 23 reports UNRWA total operating expenditure in terms of Human Development
Goal and sub Goal, total operating expenditure same as per Programme report, $545.1m.
•
Slide 24 UNRWA Balance Sheet, per fund group.
•
Slide 25 - General Fund total cash inflow for 2010
•
Slide 26 Headcount report for all local area staff ( ie excluding 205 international staff), per month,
per Field and Headquarters.
•
Slide 27 Aged accounts payable and advances report per Year and Field
3
4
Dec 2010 General Fund Financial Summary
Budget-Actuals
US$ m
•
•
•
On 1 January 2010 UNRWA's General Fund (reduced downsized
Budget, excluding the Unfunded Requirement of $57m) was
forecasting a deficit of -$54.6m - due to planned expenditure being
greater than budgeted voluntary donor contributions.
UNRWA has typically started the financial year with a deficit of
around 10% of budgeted expenditure – expected to be sourced
through increased voluntary donor contributions throughout the
year.
Actual December YTD 2010 result was a surplus of + $4.2m,
whilst there were many variances throughout the year, the key
factors were:
–
–
–
–
a) $60.7m increase in donor income over budget (please
refer to slides 8 & 9 for disaggregation by donor)
b) total operating expenditure $5.2m greater than budget,
chiefly due to inaugural accrual of 2011 severance
provision of $14.2m due to efforts to be fully IPSAS
compliant by 2012, which was partially offset by savings
across a range of inventory and other non labour costs
c) adverse foreign exchange result of -$18.2m due to
dramatic decrease in non-US FX rates and nil hedging of
2010 funds (note 97% of non US receipts for 2011 are
hedged) and
d) prior period accounting adjustments net gain of +$14.4m
due to i) capitalization of inventory incorrectly expensed in
2009 ($5m) and ii) reclassification of 2009 income accrual
from Restricted Funds to General Fund ($10m).
BUDGET
2010 YTD
ACTUAL
Donor Income
PSC
Interest
U.N. Regular Budget
442.8
15.0
29.1
503.5
21.6
3.3
23.6
TOTAL INCOME
486.9
552.0
International Staff (U.N.)
Staff
Non Staff
TOTAL OPEX
29.3
411.1
101.1
541.5
23.9
428.9
93.9
546.7
-
18.2
(1.1)
(14.4)
(1.6)
547.8
FX (Gain)/Loss
Derivatives
Prior Period
Dep + Capitalisation
TOTAL EXP
541.5
Surplus/(Deficit)
(54.6)
4.2
VAR
60.7
6.6
3.3
(5.5)
65.1
(5.4)
17.8
(7.2)
5.2
(18.2)
1.1
14.4
1.6
(6.3)
58.8
5
Dec 2010 General Fund Financial Summary
Nov EOY to Dec Actuals
US$ m
•
The November Report forecast an end of year deficit of -$4.8m,
however the December annual result was + $4.2m, key variances
comprised:
–
i) Donor income + $9.0m (comprising Australia $5.4m,
Switzerland + $1.4m and other Non AdCom + $2.2m),
–
ii) Staff, savings on actual headcount more than offset by
increased accruals on retirement and severance benefits$5.0m,
–
iii) Non staff adverse by -$7.1m chiefly due to greater than
forecasted accrual of material purchase orders (principally
hospitalization) and service contracts,
–
iv) FX/Derivatives net gain of + $1.2m due to favourable
movement in monthly FX rates
–
v) Net gain in prior period adjustments of + $8.7m, chiefly
due to re coding of $10.0m in 2009 income accrual from
Restricted Funds to General Fund
–
Nov.YTD
Forecast
2010 YTD
ACTUAL
Donor Income
PSC
Interest
U.N. Regular Budget
494.5
21.0
3.0
25.0
503.5
21.6
3.3
23.6
9.0
0.6
0.3
(1.4)
TOTAL INCOME
543.5
552.0
International Staff (U.N.)
Staff
Non Staff
TOTAL OPEX
25.0
423.9
86.8
535.7
23.9
428.9
93.9
546.7
8.5
(1.1)
(5.0)
(7.1)
(13.2)
1.6
(0.4)
8.7
1.6
0.5
FX (Gain)/Loss
Derivatives
Prior Period
Dep + Capitalisation
TOTAL EXP
Surplus/(Deficit)
vi) annual posting of depreciation and capitalization ( in
2011 to be recorded monthly).
19.8
(1.5)
(5.7)
548.3
(4.8)
18.2
(1.1)
(14.4)
(1.6)
547.8
4.2
VAR
9.0
2010 Income Statement, General Fund – Resources (Page1 of 2)
Amount in $ Thousands
FINANCIAL PERFORMANCE REPORT - BY RESOURCES - AGENCY WIDE
Description
UNRWA TOTAL - GENERAL FUND - UNEARMARKED FUND - DECEMBER 2010
Month of December
Year to date
Actuals Budget
Variance
Actuals
Budget
Variance
Incom e
Donors Contributions
50,240
3,276
46,964
503,474
442,815
60,659
United Nations RB
23,648
2,425
21,223
23,648
29,100
-5,452
1,968
1,250
15,000
6,583
Programme Support Cost Recovery
Interest and Other Income
Total Incom e -(A)
-21,306
718
21,583
-21,306
3,320
3,320
54,550
6,951
47,599
552,025
486,915
65,110
2,010
2,443
433
23,970
29,318
5,348
27,962
28,216
255
317,182
338,598
21,416
4,099
3,594
-505
41,550
43,131
1,581
859
390
-468
12,054
4,681
-7,373
Expenditure
International Staff -(B)
Area Staff - m anning table costs
Basic Salaries
Hazard Pay and Special Payment
Provident Fund Agency Contributions
SPOA,SOA and Others
Overtime and Excess hours supplement
126
48
-78
654
575
-78
CAF
2,868
1,425
-1,443
21,005
17,100
-3,905
Special Allow ances
1,562
-1,562
2,786
-2,786
614
-614
1,163
-1,163
Health Related Expenses
Miscellenous Allow ance
Retirement Benef its - Severance
Retirement Benef its - EVR
Total Area Staff -m anning table costs -(C)
LDC and Tem porary Staff -(D)
Grand Total Area staff Costs -(E)=(C+D)
305
17,780
19
4,974
-305
307
-17,761
21,480
-4,974
5,012
-307
233
-21,247
-5,012
61,149
33,693
-27,456
423,193
404,318
-18,875
1,074
572
-502
5,741
6,860
1,118
62,222
34,265
-27,958
428,934
411,178
-17,756
6
7
2010 Income Statement, General Fund - Resources (Page2 of 2)
Amount in $ Thousands
FINANCIAL PERFORMANCE REPORT - BY RESOURCES - AGENCY WIDE
UNRWA TOTAL - GENERAL FUND - UNEARMARKED FUND - DECEMBER 2010
Des cription
Month of December
Actuals
Budget
Variance
Actuals
Year to date
Budget
Variance
Non Staff Cos ts
Inventory Supplies
4,301
1,271
-3,031
19,436
15,247
-4,189
Non inventory Supplies
4,723
938
-3,785
12,086
11,256
-830
715
350
-366
3,789
4,194
405
Maintenance of Premises
2,407
361
-2,046
5,823
4,336
-1,487
Equipment and Construction
8,817
354
-8,463
12,159
4,247
-7,911
Training
920
149
-770
1,899
1,792
-107
Travel
633
165
-467
2,219
1,984
-235
Utilities
Admin Support Services
942
429
-512
4,674
5,154
480
Consultancy Services
1,166
103
-1,063
2,288
1,241
-1,046
Hospital Services
1,132
613
-519
12,195
7,361
-4,834
Miscellaneous Services
4,047
618
-3,429
8,852
7,419
-1,433
Cash Subsidies to hardship cases
361
1,059
698
8,638
12,711
4,073
Cash Subsidies to patients
520
235
-285
3,867
2,815
-1,052
28
-1
249
2,108
2,108
Other Subsidies
29
Reserves
Cost Recovery
337
88
25,301
25,301
-298
-361
-63
-4,369
-4,332
36
Total Non Staff -(F)
30,415
8,422
-21,993
93,806
101,065
7,259
Total Ope rational Expe nditure -(G)=(B+E+F)
94,647
45,130
-49,517
546,710
541,561
-5,149
-40,097
-38,179
-1,918
5,315
-54,646
59,961
-1,512
1,512
18,259
357
-357
-1,097
1,097
Prior year adjustments (L)
-8,692
8,692
-14,402
14,402
Depreciation & Captitalization adjustments (M)
-1,655
1,655
-1,655
1,655
Total Expe nditure (N)=G+J+K+L+M
83,145
45,130
-38,015
547,815
541,561
-6,254
-28,595
-38,179
9,584
4,210
-54,646
58,856
Ope rational Surplus /De ficit -(I)=(A-G)
Exchange (Gains)/Losses (J)
Financial Derivatives (Gain)/Losses (K)
Ne t Surplus /(De ficit) l=A-N
-18,259
8
Donor Income - 2010 General Fund
US$ m
Don or
B u dge t
A
Australia
Bahrain
Belgium
Canada
Denmark
Finland
France
Germany
Ireland
Italy
Jap an
Kuwait
Netherlands
Norway
Qatar
Saudi Arabia
Sp ain
Sweden
Switzerland
T urkey
UAE
UK
UK (Perf Incr)
USA
EU
Sp ain, Andalucia
Other Non-Adcom
Other
T otal
4.7
0.1
1.5
9.3
15.9
5.1
8.3
12.3
5.5
5.8
2.9
1.5
22.5
25.5
0.1
1.8
12.2
43.6
7.8
0.5
1.0
31.5
5.0
105.0
101.2
0.0
3.8
8.4
442.8
Don ors
u n de r / ove r
fu n di n g at
B u dge t Rate
9.4
0.1
1.5
(9.3)
(2.0)
0.7
(1.8)
(0.7)
0.3
0.7
9.0
(0.7)
1.8
(0.6)
(2.4)
3.2
0.8
8.3
29.6
23.5
2.6
10.0
(8.4)
75.5
Fx Im pact
0.7
(0.5)
(1.2)
(0.5)
(0.5)
(1.4)
(0.9)
(0.6)
(0.1)
0.5
(0.9)
(1.7)
(0.7)
(4.5)
(0.2)
(2.2)
0.1
(0.4)
(14.9)
Total 2010
Update s
2010
In com e
B
A+B
10.1
0.1
1.0
(9.3)
(3.2)
0.2
(2.3)
(2.1)
(0.6)
0.2
9.0
0.0
(0.8)
0.5
0.0
1.8
(1.5)
(4.1)
2.5
0.0
0.8
3.8
(0.2)
29.6
21.3
2.7
9.6
(8.4)
60.6
14.8
0.1
2.4
0.0
12.7
5.3
6.1
10.2
4.9
6.0
11.9
1.5
21.6
26.0
0.1
3.6
10.7
39.5
10.4
0.5
1.8
35.3
4.7
134.6
122.5
2.7
13.5
0.0
503.4
9
Donor Income Against Budget - 2010 General Fund
US$ m
Donor
Australia
Bahrain
Belgium
Canada
Denmark
Finland
France
Germany
Ireland
Italy
Japan
Kuwait
Netherlands
Norway
Qatar
Saudi Arabia
Spain
Sweden
Switzerland
Turkey
UAE
UK
UK (Perf Incr)
USA
EU
Spain, Andalucia
Other Non-Adcom
Other
Total
Budget
USD
4.7
0.1
1.5
9.3
15.9
5.1
8.3
12.3
5.5
5.8
2.9
1.5
22.5
25.5
0.1
1.8
12.2
43.6
7.8
0.5
1.0
31.5
5.0
105.0
101.2
0.0
3.8
8.4
442.8
Dec Income
Against
Budget (at
budget rate)
4.7
0.1
1.5
13.9
5.1
6.5
11.6
5.5
5.8
2.9
1.5
21.8
25.5
0.1
1.8
11.6
41.2
7.8
0.5
1.0
31.5
5.0
105.0
95.7
Fx Impact
Variance
to Budget
A
0.0
-0.2
-1.2
-0.4
-0.5
-1.4
-0.8
-0.5
-0.1
0.5
0.0
-0.9
-1.7
-0.6
0.0
-4.1
-0.2
-0.9
3.8
411.3
Sub-total
to budget
Amount
-13.1
4.7
0.1
1.2
0.0
12.7
4.6
6.1
10.2
4.7
5.3
2.9
1.5
21.6
26.0
0.1
1.8
10.7
39.5
7.2
0.5
1.0
27.4
4.7
105.0
94.8
0.0
3.8
0.0
398.2
0.0
0.0
-0.2
-9.3
-3.2
-0.4
-2.3
-2.1
-0.8
-0.5
0.0
0.0
-0.8
0.5
0.0
0.0
-1.5
-4.1
-0.6
0.0
0.0
-4.1
-0.2
0.0
-6.4
0.0
0.0
-8.4
-44.6
Additional
Cont.
above
budget (at
Bgt rate)
Fx Impact
9.4
0.1
1.5
0.7
-0.2
0.7
-0.1
0.3
0.7
9.0
0.0
-0.1
1.8
3.2
-0.1
0.8
8.3
-0.4
29.6
29.0
2.6
10.0
-1.3
0.1
-0.4
106.9
-1.8
Sub -total
Amount in
excess of
Budget
B
10.1
0.1
1.2
0.0
0.0
0.6
0.0
0.0
0.2
0.6
9.0
0.0
0.0
0.0
0.0
1.8
0.0
0.0
3.1
0.0
0.8
7.9
0.0
29.6
27.7
2.7
9.6
0.0
105.1
Grand Total
At Budget
Rate
14.1
0.1
2.9
0.0
13.9
5.8
6.5
11.6
5.8
6.5
11.9
1.5
21.8
25.5
0.1
3.6
11.6
41.2
11.1
0.5
1.8
39.8
5.0
134.6
124.7
2.6
13.8
0.0
518.2
FX Impact
0.7
0.0
-0.5
0.0
-1.2
-0.5
-0.5
-1.4
-0.9
-0.6
0.0
0.0
-0.1
0.5
0.0
0.0
-0.9
-1.7
-0.7
0.0
0.0
-4.5
-0.2
0.0
-2.2
0.1
-0.4
0.0
-14.9
Total
Income
A+B
14.8
0.1
2.4
0.0
12.7
5.3
6.1
10.2
4.9
6.0
11.9
1.5
21.6
26.0
0.1
3.6
10.7
39.5
10.4
0.5
1.8
35.3
4.7
134.6
122.5
2.7
13.5
0.0
503.4
Variance
to Budget
10.1
0.1
1.0
-9.3
-3.2
0.2
-2.3
-2.1
-0.6
0.2
9.0
0.0
-0.8
0.5
0.0
1.8
-1.5
-4.1
2.5
0.0
0.8
3.8
-0.2
29.6
21.3
2.7
9.6
-8.4
60.6
10
Programme Total Actual Expenditure General Fund -2010
Programme
Gaza
$K
%
136,876 70%
Education
Health
Lebanon
$K
%
38,532 54%
Jordan
$K
%
75,289 68%
Syria
$K
%
28,044 62%
West Bank Head Quarters
$K
%
$k
%
49,188 54%
2,319
7%
Total
$k
%
330,248 61%
30,411
16%
15,981
23%
20,924
19%
9,144
20%
21,382
24%
625
2%
98,467
18%
Infrastructure
3,699
2%
3,233
5%
424
0%
263
1%
781
1%
1,415
4%
9,815
2%
Relief and Social Services
5,897
3%
5,406
8%
5,309
5%
2,798
6%
2,618
3%
914
3%
22,942
4%
17,443
9%
7,810
11%
8,894
8%
4,786
11%
16,753
18%
27,899
84%
83,585
15%
Support Services
Total
194,326 100%
70,962 100% 110,840 100%
45,035 100%
90,722 100%
33,172 100%
545,057 100%
15%
4%
Education
2%
Health
Infrastructure
Relief and Social Services
18%
61%
Support Services
1)
This amount includes $23.9m International Staff costs
2)
This amount excludes $2.7m costs comprises of ($18.2m Foreign exchange loss,($(1.1) Derivative gains and $(14.4)m Prior year
adjustments
Human Development Goal Total Actual Expenditure
General Fund -2010
HDG
Gaza
$K
%
30,178 16%
Long and Health life
Acquired Knowledge and Skills
A Decent standard of Living
Human Rights enjoyed to the fullest
Support Services
Total
Lebanon
$K
%
17,940 25%
Jordan
$K
%
20,655 19%
Syria
$K
%
9,257 21%
11
West Bank Head Quarters
$K
%
$k
%
21,264 23%
899
3%
Total
$k
%
100,193 18%
133,264
69%
35,218
50%
71,412
64%
26,522
59%
41,937
46%
2,273
7%
310,626
57%
13,054
7%
8,147
11%
9,259
8%
3,978
9%
9,258
10%
1,785
5%
45,481
8%
1,045
1%
385
1%
830
1%
409
1%
775
1%
902
3%
4,346
1%
16,785
9%
9,273
13%
8,682
8%
4,869
11%
17,488
19%
27,313
82%
84,410
15%
194,326 100%
70,963 100%
110,838 100%
15%
45,035 100%
90,722 100%
33,172 100%
545,056 100%
18%
Long and Health life
1%
Acquired Knowledge and
Skills
8%
A Decent standard of
Living
Human Rights enjoyed to
the fullest
Support Services
58%
1)
This amount includes $23.9m International Staff costs
2)
This amount excludes $2.7m costs comprises of ($18.2m Foreign exchange loss,($(1.1) Derivative gains and $(14.4)m Prior year
adjustments
Treasury – Foreign Exchange
UNRWA Foreign Exchange gains and losses for 2010 were made up of the following:
•
FX Loss on Donor Income
– The difference between the Donor Income at Budget Rates, and the actual UN exchange rate that the
contribution is booked at when received. UNRWA cannot control the variance between these rates,
unless the income is hedged.
– The result for 2010 was a loss of USD14.9m, mainly due to the depreciation of the Euro against the
USD.
– In October, 97% of 2011 non-USD Donor Income was hedged. This is expected to offset the income
volatility from movements away from the budgeted rate, but will be reported separately under the FX
line.
•
FX Loss on Realised and Unrealised Foreign Currency Bank Balances and Transactions
– The revaluation of Foreign Currency bank balances and any other assets or liabilities, and the realised
gain or loss on any foreign currency transactions.
– The result for 2010 was a loss of USD18.3m, primarily due to the devaluation of foreign currency bank
account balances – particularly the Euro.
•
Unrealised FX Gain or Loss on Financial Derivatives.
– In 2010, hedging contracts (FX Forwards) were entered into to protect the value of contributions
received in late 2010 and 2011. Prior to maturity of these contracts, they must be revalued to market at
the end of each month. If any income is received against any of these contracts, then the gain/loss must
be reported in the income statement.
•
Realised FX Gain or Loss on Financial Derivatives.
– After maturity of each hedging contract, a gain or loss is realised.
– The result for 2010 was a gain of USD1.1m for the contracts hedging our 2010 exposures (EUR and
GBP).
12
UNRWA Bank Balances
Currency
13
30 November 2010
Transaction Curr
Exch rate
Field Currency and USD
USD
267.6
JOD
5.7
0.708
LBP
6,805.3
1,500
SYP
267.8
46.010
NIS
11.1
3.630
Total
Non Field Currency
0.2
1.025
CHF
0.3
1.002
DKK
0.4
5.700
EGP
0.3
5.760
EUR
45.1
0.764
GBP
0.8
0.643
JPY
28.0
84.340
NOK
125.6
6.200
SEK
1.0
7.000
Total Non USD -Non Field
Grand Total
31 December 2010
US$m
Transaction Curr
Exch rate
267.6
8.1
4.5
5.8
3.1
289.1
297.7
5.4
6,486.6
252.4
2.8
0.708
1,500
46.580
3.580
0.2
0.3
0.1
0.1
59.1
1.3
0.3
20.3
0.1
81.7
370.7
0.2
1.5
0.4
0.3
31.0
2.8
28.0
130.8
13.0
1.000
0.951
5.675
5.740
0.761
0.648
82.000
5.956
6.852
US$m
297.7
7.7
4.3
5.4
0.8
315.9
0.2
1.6
0.1
0.1
40.7
4.3
0.3
22.0
1.9
71.1
387.0
Closing Cash Balance By Fund Group - 31 Dec 2010
General
Fund
79.4
Restricted
Funds
54.5
Projects
151.8
Emergency
Appeal
101.3
Total
387.0
% Change in
Exch rate
1.4%
2.4%
5.0%
0.4%
0.3%
0.4%
-0.8%
2.8%
3.9%
2.1%
Cash Flow Forecast – December - General Fund -EOY
US$ m
US$ Millions
Opening
Balance
H2
Total
18.1
87.0
18.1
343.2
187.8
531.0
PSC
9.6
11.9
21.5
Other Income
1.4
15.9
17.3
Donor Inflows
Outflows
18.1
(259.1) (232.2)
(491.3)
FX Gain/(Loss)
(26.2)
9.1
(17.1)
Net Cash flows
68.9
(7.5)
61.4
General Fund
Cash Balance
US$ m
Income to Cash Flow Reconciliation
H1
General Fund
B/F Cash Balance
14
87.0
79.5
79.5
Surplus as per Income Statement
Add
Net Accruals, EVR and Severance
Net increase in Liabilities
Net increase in Leave encashment
Net increase in Advance Contribution
Net decrease in inventories
4.2
29.6
3.6
4.0
26.2
18.7
82.0
86.2
Less
Net increase in Receivables
Capitalization adjustments
Net Decrease in Hard Commitments
Net increase in Contribution receivable
1.0
1.5
3.6
18.5
24.6
Net Cash balance movement
Opening
61.6
18.1
Net increase in imprest cash
(0.2)
Closing cash balance
79.5
Note- Of the $79.5m cash balance as at 31/12/2010, this includes advances from 2011 income comprising:
a)
$28m - USA
b)
$0.91m - New Zealand, Pakistan and Czech Republic
15
Area Staff Provident Fund – December 2010
UNRWA PF December 2010 Update
Asset Class
Values
Bond
Equity
Hedge Fund Of Funds (HFOFs)
Real Estate Securities (REITs)
Total
612,654,274
343,876,156
50,793,697
63,063,747
1,070,387,874
Percentage
December
Performance
Jan-Dec
Jan-Dec (Y.T.D)
(Y.T.D) Fund
Benchmark
Performance
Performance
57%
32%
5%
6%
0.48
7.31
1.6
6.34
6.22
11.48
7.14
21.91
5.21
12.43
5.46
23.51
100%
2.91
* 8.87
8.60
*The indicative draft performance for December Y.T.D (Jan-Dec) is +8.65% (Net of fees)
UNRWA Year wise PF Return
Year
Fund Return Index Return Excess Return
2000
6.42
1.90
4.52%
2001
(0.53)
(1.34)
0.81%
2002
5.59
4.92
0.67%
2003
14.85
14.79
0.06%
2004
9.78
9.65
0.13%
2005
2.48
2.50
-0.02%
2006
10.25
9.87
0.38%
2007
8.16
8.49
-0.33%
2008
(15.03)
(14.04)
-0.99%
2009
16.36
15.42
0.94%
Cumulative Return(2000-2009)
5.18
5.16
0.02%
16
General Fund
Total Programme Requirements
US$ m
598.5
598.5
-29.3
Programme Requirements
Projected Income
Shortfall against Programme Requirements
Total Downsized Budget (Envelopes)
Projected Income
Minimum additional funding required
598.5
569.2
-15.0
583.5
-15.0
554.2
12.2
18.3
(1.1)
(1.4)
582.2
442.8
-140.7
512.2
442.8
15
457.8
54.4
442.8
75.5
(14.9)
503.4
19.4
6.6
-52.8
512.2
12.2
524.40
18.26
(1.1)
(1.4)
540.2
442.8
75.5
(14.9)
503.4
19.4
21.6
544.4
-4.2
Less International Staff ($29.1m) funded by UN & ($0.2m)
funded by PF
Downsized Envelope ($512.4m) plus Unfunded portion ($57m)
Less PSC Income
Reinstated expenditure from 2009 savings plus other
Add Exchange losses ( FX revaluations)
Financial Derivatives Gains (Losses)
Savings in 2010
Increased donor funding
FX loss on receipt of funds (act + f/c)
Other Income + PYA
PSC additional Income
Reinstated expenditure from 2009 savings plus other
Exchange losses ( Fx revaluations)
Financial Derivatives Gains (Losses)
Savings in 2010
Total Expenditure (a)
Increased donor funding
FX loss on receipt of funds (act + f/c)
EOY Estimate Donor Income (b)
Other income + PYA (c)
PSC Income (d)
Total Income (e) = (b) + (c) + (d)
(a) - (e)
17
APPENDICES
• Financial Performance Report by Sub Programme
• Financial Performance Report by HDG (Objective)
• Balance Sheet as per UNSAS – As at 31 Dec 2010
• YTD Dec and EOY General Fund – Cash Inflow
• Supplier Aging as on 31 Dec 2010
• Head Count as on 31 Dec 2010
18
19
20
21
22
23
24
YTD Dec and EOY General Fund – Cash Inflow
US$ m
Don or
Bu dge t
Act
Var
A
25
US$ m
Total 2010
Update s
2009 C F
2011
2010
Re cd
(C F)/BF
EO Y
B
C
D
A+B+ C +D
Aust ralia
4.7
14.8
10.1
10.1
14.8
Bahrain
0.1
0.1
0.1
0.1
0.1
Belgium
1.5
2.4
1.0
1.0
2.4
9.3
0.0
(9.3)
(9.3)
0.0
15.9
12.7
(3.2)
(3.2)
12.7
Finland
5.1
5.3
0.2
0.2
France
8.3
6.1
(2.3)
(2.3)
6.1
Canada
Denmark
1.4
6.7
12.3
10.2
(2.1)
(2.1)
10.2
Ireland
5.5
4.9
(0.6)
(0.6)
4.9
It aly
5.8
6.0
0.2
0.2
Japan
2.9
1.9
(1.0)
9.0
Germany
Kuwait
1.5
1.5
Net herlands
22.5
21.6
Norway
25.5
26.0
0.1
0.0
Qat ar
Saudi Arabia
0.0
0.0
(0.8)
(0.8)
0.5
0.5
(0.1)
0.0
1.8
3.6
1.8
1.8
Spain
12.2
10.7
(1.5)
(1.5)
Sweden
6.0
(10.0)
1.9
1.5
21.6
26.0
(0.1)
0.0
3.6
10.7
39.5
43.6
39.5
(4.1)
(4.1)
Swit zerland
7.8
10.4
2.5
2.5
T urkey
0.5
0.5
0.0
0.0
UAE
1.0
1.8
0.8
0.8
2.5
4.3
3.8
3.8
8.0
43.3
(0.2)
(0.2)
UK
UK (P erf Incr)
31.5
35.3
5.0
4.7
USA
105.0
134.6
29.6
29.6
EU
101.2
116.9
15.7
21.3
Spain, Andalucia
0.0
2.7
2.7
2.7
Ot her Non-Adcom
3.8
10.8
7.0
9.6
Ot her
T ot al
8.4
0.0
(8.4)
(8.4)
442.8
485.1
42.3
60.7
0.5
10.9
0.5
4.7
28.0
162.6
4.6
(5.7)
121.5
0.1
(1.8)
11.8
2.7
0.0
17.1
10.5
531.0
26
Head Count as at 31 Dec 2010 – Area Staff
36,000
32,000
28,000
HQG
24,000
HQA
20,000
FOS
16,000
FOL
12,000
FOJ
8,000
FOW
4,000
FOG
Jan
Budget
10,664
4,474
7,020
3,152
3,571
298
142
29,321
Field
FOG
FOW
FOJ
FOL
FOS
HQA
HQG
Total
Jan
10,281
4,181
6,689
2,897
3,490
263
125
27,926
Feb
Feb
10,285
4,186
6,690
2,893
3,487
264
128
27,933
Mar
Mar
10,297
4,186
6,731
2,892
3,486
267
127
27,986
Apr
May
Apr
10,341
4,186
6,734
2,891
3,486
267
127
28,032
Jun
May
10,337
4,192
6,734
2,885
3,490
266
126
28,030
Jul
Aug
Jun
10,351
4,200
6,727
2,881
3,488
265
125
28,037
Sep
Jul
10,321
4,189
6,661
2,856
3,467
268
125
27,887
Oct
Nov
Dec
Budget
Aug Sep
Oct
Nov
Dec
YTD Avg
10,313 10,300 10,598 10,558 10,550
10,378
4,190
4,189
4,194
4,195
4,208
4,191
6,651
6,647
6,699
6,744
6,740
6,704
2,849
2,843
2,922
2,923
2,927
2,888
3,463
3,462
3,460
3,453
3,454
3,474
265
261
261
265
268
265
125
125
126
126
124
126
27,856 27,827 28,260 28,264 28,271
28,026
27
Supplier’s Accounts Payable & Advances – Dec 2010
Amount in US$
Main Account
Staff Advances
1210 Total
Supplier Advances
1520 Total
Supplier Payables
2110 Total
Year
2008
2009
2010
2002
2003
2004
2006
2007
2008
2009
2010
2002
2003
2004
2005
2006
2007
2008
2009
2010
HQA
FOG
1,706
1,706
FOL
7,700
1,000
8,700
2,249
2,249
FOS
FOJ
144,043
144,043
0
109
145,918
146,027
500
50,747
50,747
0
(741,995)
(741,995)
39,549
283,712
161,663
190,833
470,653
1,146,910
6,527
(4,787)
1,570
433
(27,087)
(216,991)
(5,354)
(931,739)
(870,169)
(2,047,599)
FOW
2,500
6,246
8,746
13,298
21,186
7,062
0
1,076,818
298,240
1,375,059
(15)
(58)
(225)
(58)
(508)
(24,109)
(4,281)
(3,266)
(1,383,092)
(1,415,613)
326,023
326,023
(120)
(321)
(18)
(439)
(425)
(478)
(13,937)
(15,738)
141,243
0
254,237
156,930
580,659
(1,412)
(0)
(2,825)
(353)
(0)
(5,986)
(86,783)
(97,360)
17,879
137,800
26,954
74,868
2,857,194
3,127,993
21,754
7,155
20,599
5,722
(70,929)
(3,535)
33
(11,632)
(1,013,110)
(1,043,942)
HQG
Grand Total
2,500
7,809
33,739
334,901
33,739
345,211
13,298
21,686
7,062
57,428
562,755
188,617
9,862
1,606,618
692,558
4,852,346
702,420
7,309,810
28,266
(393,887)
(392,990)
(113,636)
(91,811)
5,775
(101,367)
(245,427)
(21,073)
(31,100)
(3,157)
(956,258)
(2,481,275)
(6,590,362)
(3,013,027)
(8,375,274)
28