Report of the Fifteenth Meeting of the CGIAR Finance Committee

Report of the Finance Committee presented to the CGIAR Mid Term Meeting in May 1999 by Committee Chair Alex McCalla. The committee reviewed a draft of the CGIAR Financial Report for 1998. It received an update on the 1999 financial plan, confirmed the plan, and approved disbursement of the second tranche of World Bank funds. The Committee recommended approval of a funding target for 2000 identical to the projected 1999 result of $340 million.The Committee noted circulation to centers of a final draft of a proposed CGIAR accounting policy manual bringing the CGIAR in full compliance with US non-profit accounting standards. The CGIAR Secretariat had initiated studies of center practices in accounting for indirect costs, and of opportunities to reduce the impact of currency fluctuations on center income, with final reports expected by ICW99.