1. RESERVE SUBFUND
Its purpose is to ensure the regular and continuous financial functioning of the General Secretariat.
Result of the annual income in excess of the execution.
Annual income: Quotas + Administrative Support + interest + de-obligations + Other.
Execution: As approved on the Budget (Expenses + Obligations) + other approved activity (i.e. FONDEM)

2. RESERVE SUBFUND Components of the Reserve Subfund:
Reserve Subfund Equation
Increases: +
Quotas
Other Income
Decreases: -
Budget execution
FONDEM
Equal: =
Net Increase or Decrease
Beginning Reserve Subfund
Ending Reserve Subfund

3. RESERVE SUBFUND Reserve Subfund Equation Budgetary Equation Increases:+
Quotas
Approved Budget
Other Income
Decreases: -
Budget execution
Budget Execution
FONDEM
Equal: =
Net Increase or Decrease
Budgetary Savings
Beginning Reserve Subfund
Ending Reserve Subfund

4. Proposed, Approved and Executed
(in millions of USD)
2016 Approved Budget Level
84.3
Financing
Quotas (net)
82.1
Other income
2.2
Total Financing
2016 Approved Budget Execution
Total Execution
Approved in
June
Will be received
Might be received
Approved in
October
Art. 99 of General Standards
Will be fully executed if total financing is received.

5. RESERVE SUBFUND EQUATION (in millions of USD) A Budget FinancingA
Budget
Financing
Current Quotas
82.1
Quotas in Arrears
0.0
Other income
2.2
Total Financing
84.3
Total Execution
Operating surplus/deficit
Reserve Sub fund at beginning of year
Reserve Sub fund at end of year
Quotas Receivable
Adjusted Reserve Sub fund B
YEAR 1
75.1
0.0
2.2
78.3
84.3
-6.0
6.0 C
YEAR 2
82.1
6.0
2.2
90.3
84.3
-6.0
0.0 D
YEAR 3
82.1
0.0
1.2
83.3
84.3
-1.0 E
YEAR 3
82.1
0.0
1.2
83.3

6. RESERVE SUBFUND 2016 AND PROJECTED 2017 * Preliminary and unaudited
(in millions of USD) A
2016
Approved
Budget
Financing
Current Quotas
82.1
Quotas in Arrears
0.0
Other income
2.2
Total Financing
84.3
Total Execution
Operating surplus/deficit
Reserve Sub fund at beginning of year
-18.0
Reserve Sub fund at end of year
Quotas Receivable
19.7
Adjusted Reserve Sub fund
1.7 B
2016*
Results
72.5
14.4
1.0
87.9
81.3
6.6
-18.0
-11.4
14.9
3.5 C
2017
Approved
Budget
84.5
0.0
0.5
85.0
73.5
11.5
-11.4
0.1
14.9
15.0 D
Projected
2017
Results
82.6
7.8
0.5
90.9
73.5
17.4
-11.4
6.0
9.0
15.0
* Preliminary and unaudited

7. END OF PRESENTATION