© GEO Secretariat GEO 2013 Financial Statements GEO XI Plenary November, 2014 Geneva

Introduction Fourth year of International Public Sector Acctg Stds (IPSAS) WMO Finance Support Oversight : Audit Committee, Internal Audit & Ext’l Audit Unqualified external audit opinion Five Statements required by IPSAS: Sttmt I – Financial Position Sttmt II – Financial Performance Sttmt III – Changes in Net Assets /Net Equity Sttmt IV – Cash Flow Sttmt V – Comparison of Budget and Actual © GEO Secretariat

Financial position at 31 December 2013 (Statement I) Total assets have increased by CHF 0.4 m from CHF 2.9 m at 31 Dec 2012 (which included cash of CHF 2.6 m) to CHF 3.3 m (including cash of CHF 3.1 m) Total liabilities have decreased by CHF 0.3 m from CHF 0.9 m at 31 Dec 2012 to CHF 0.6 m (primarily for long-term employee benefits) As a result of the above changes in total assets and total liabilities the Group’s net assets increased by CHF 0.7 m during 2013, from CHF 2.0 m at 31 Dec 2012 to CHF 2.7 m (approx=cash requirements for 10 months) Overall: sound financial status

Financial performance in 2013 (Statement II) 2013 Surplus of CHF 0.4 m compared to deficit of CHF 0.2 m in 2012 (however, 2.0 m carry over) Revenue of CHF 4.7 m in 2013, increased from CHF 4.5 m in expenditure of CHF 4.3 m, compared to CHF 4.8 m in Expenditure well within budget of CHF 5.9 m As in previous years, difficult to align expenditure with actual income because of unpredictable timing and amount of contributions; helpful if this could be less unpredictable Positive effect of valuations of liabilities for employee benefits

Internal & External auditor Our appreciation to internal and external auditors

© GEO Secretariat Thank you