NARRATIVE REPORT 2009 - The ICHRP

International Council on Human Rights Policy - Narrative Report 2009
FINANCE
Overview of the financial position
The Council’s Executive Board approved the audited accounts for 2009 on 27 February 2010. The
report of the auditor and the accounts are appended (Appendix V(a)).
The 2009 accounts report a nominal deficit of CHF 25k. Income amounted to CHF 1.634 million and
expenditure CHF 1.651 million, excluding 2010 and 2008 adjustments and foreign exchange
fluctuations. Some unspent income has been carried into the 2010 accounts. Expenses incurred on the
Colloquium (project 210) have been moved into 2010, except for staff time and general cost
allocations (Governance, Overheads, Website and Communications, General Projects, Fundraising).
The Council carried some debts into 2010, most of which were paid at the beginning of the year.
These were linked to regular operating expenses, and mailing costs incurred in 2009 but for which
invoices were received in January 2010. The Council also adjusted balances overestimated for this year
and prior years. An overestimate of CHF 13k added to our expenditure to CHF 1.664 million.
The accounts benefited from stronger publication sales (income from which doubled from CHF 1.7k to
CHF 3.5k) and sales of furniture (approximately 7k). With CHF 1.622 million of donations (compared to
1.590 million in 2009), our total income was CHF 1.634 million (compared to 1.604 million in 2008),
excluding foreign exchange gains, which amounted to CHF 5k (compared to last year’s loss of CHF
89k). Overall, the Secretariat managed to cut expenditure by 440k (2.091 million in 2008), excluding
foreign exchange fluctuations and adjustments.
The nominal deficit of CHF 25k on the 2009 accounts should nevertheless be put in context. Taking
into account last year’s loss of CHF 577k, the Council is still highly insecure, having virtually no
reserve. CHF 77k of surplus has been brought forward from 2009 into 2010, compared to 596k from
2008 to 2009. This sum is in addition to the foundation capital of CHF 50k (the Foundation’s
minimum legal reserve). It is therefore essential to cover expenditure in 2010 but also to begin to
reconstitute a reserve, given the long project cycles associated with research.
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