ISBA/28/A/4- ISBA/28/C/13.pdf

The International Seabed Authority's Finance Committee met from 5 to 7 July 2023, reviewing the budget implementation for 2021-2022, which showed an under-expenditure of $150,058. The Committee noted the Working Capital Fund balance was $717,568 and decided to review its level in 2024. As of 30 June 2023, 89% of contributions to the budget for 2023 had been received, with 69 member States paying in full and 13 in part. The Committee appreciated efforts to collect outstanding contributions and encouraged continued awareness-raising among member States in arrears. The audited financial statements for 2022 were reviewed, and the Committee recommended appointing CalvertGordon Associates as auditor for 2023-2024. The Committee also considered the status of trust funds, measures to increase investment yields, and a supplementary budget proposal for 2023-2024, agreeing to set the interim director-general position at P-5 level with potential for future reclassification to D-1.