Annual Report 2005 - Doctors Without Borders

2005MSF worldwideStatement of Financial Position 2004 2003Millions $ Millions $Non-current assets 39.4 35.8Current assets 113.4 64.3Cash & equivalents 251.0 185.3Total Assets 403.9 285.3Permanently Restricted Funds 3.5 6.5Unrestricted Funds 294.3 225.9Other Retained Earnings -4.6 -2.7Total Retained Earnings and Equities 293.3 229.6Non-current liabilities 9.5 8.0Current liabilities 53.9 44.1Unspent temporarilyrestricted funds (Note 3) 47.3 3.5Total Liabilities and Retained Earnings 403.9 285.347us annual report 2005Note 1: Public institutional agencies include, among others, the governments of Belgium, Denmark, Luxembourg, Norway, Sweden, Switzerland, and the United Kingdom, as well asthe United Nations High Commissioner for Refugees, the European Community Humanitarian Office, and the European Union.Note 2: Other income includes, for example, interest accrued on investments, and the sale of merchandise, equipment, and services.Note 3: Unspent temporarily restricted funds are unspent donor-designated funds, which will be spent by MSF in strict accordance with the donors’ desire (e.g., specific countriesor types of interventions) as needs arise.Currency Exchange: The MSF international financial reports are presented in euros. The figures that appear in the MSF-USA annual report have been converted to dollars usingthe average exchange rate for their respective years. 2003 figures are converted at a rate of 1 euro=1.131708 US dollars. 2004 figures are converted at a rate of 1 euro=1.243853US dollars.The figures presented here describe MSF’s finances on a combined international level. These 2004 international figures have been certified by the accounting firm KPMGaccording to international auditing standards. A copy of the full 2004 financial report may be obtained from MSF-USA upon request. In addition, each section of MSF publishesannual, audited financial statements according to its national accounting policies, legislation, and auditing rules. Copies may be requested from MSF-USA.How was the money spent?Program expenses by categoryProgram expenses by continentTraining &local support 1.2%Other expenses 1.3%Logistics &sanitation 5.9%Operationalexpenses 6.7%Transport,freight, storage 14.8%26.2% International staff22.9% National staff21.0% Medical &nutritional74.9% Africa13.7% Asia5.7% Americas5.2% Europe0.5% Non-allocatedMSF Operational Expenditures for the TsunamiMSF is extremely grateful to its donors fortheir generosity following the December 26,2004, tsunami. In the first week of January2005, MSF announced it would stop acceptingfunds specifically intended for MSF’sIndian Ocean tsunami relief programs. MSFlearned soon after our teams were on theground that—given the large internationalresponse and mostly long-term reconstructionneeds caused by the disaster—our expertise and resources would havefar greater impact on other neglected crises,once the tsunami-related emergencymedicalneeds were met. MSF decided tocontact donors to ask their permission touse their funds for other urgent emergenciesand forgotten crises. The responsewas overwhelmingly positive. Of thosecontacted, only 1.1 percent asked for theirmoney to be refunded.In total, MSF sections around the worldreceived $137.3 million in response to theIndian Ocean tsunami. By the end of 2005,MSF had spent $112.3 million, or 82 percent,of these donations. Of this amount, $30.8million was used to support operations intsunami-affected regions, $81.5 million wasallocated to meet urgent needs in otheremergencies and forgotten crises, and$1.6 million was reimbursed to donors.A full report on MSF programs in tsunamiaffectedregions is available at:www.doctorswithoutborders.org