Financial Statements - International Planned Parenthood Federation
Financial Statements - International Planned Parenthood Federation
Financial Statements - International Planned Parenthood Federation
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56 IPPF <strong>Financial</strong> <strong>Statements</strong> 2009<br />
16 Funds and reserves (continued)<br />
Unrestricted funds and reserves (continued)<br />
Fixed asset reserve<br />
Staff reserve<br />
Translation reserve<br />
Other designated funds<br />
WHR sustainability fund<br />
Innovation fund<br />
Pension reserve<br />
General fund<br />
This represents the value of IPPF funds invested in unrestricted fixed assets (see note 10) or allocated for<br />
their replacement.<br />
These funds have been set aside to provide for redundancy and other separation costs in the event that IPPF should<br />
terminate its activities. This requirement only applies to the staff within the Western Hemisphere Regional Office.<br />
This reserve is used to absorb unexpected movements in the exchange rate which adversely affect the IPPF income forecasts.<br />
These include the new Resource Mobilisation Fund, the 21st Century Fund (for sustainability projects in South American<br />
Member Associations) and various funds set aside for use by specific IPPF Regional Offices.<br />
This fund was established by the Western Hemisphere Region during 2002 following the receipt of a single legacy to<br />
be used within that Region. The WHR Board have agreed to keep the legacy intact and to use the income generated for<br />
activities within the region. 3.5% of the fund is released per-annum, 50% of which funds Regional Office projects and<br />
50% funds Member Association projects.<br />
The Innovation fund is used to develop innovative projects centred around the IPPF ‘5 As’.<br />
This fund represents the value of IPPF’s assets and liabilities arising in respect of the Central Office Defined Benefit<br />
Pension Scheme, which was closed in 2007. The movements in this fund are detailed in note 20.<br />
This contains the unrestricted funds of IPPF which are free of donor restrictions for specific activities or countries.<br />
These will fund future activities.<br />
17 Forward commitments<br />
2009<br />
$’000<br />
2008<br />
$’000<br />
Orders for contraceptives and services due within one year 1,323 120<br />
The commitments recognized are orders placed by the year-end but not yet delivered to IPPF, for which there is a legal<br />
obligation to make payment to the supplier.<br />
Operating lease commitments:<br />
At 31 December, the following annual non-cancellable operating lease rental commitments existed:<br />
Expiring<br />
In the next 1–2 years 936 260<br />
Between 2–5 years 0 556<br />
Over 5 years 165 164
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