Review of the 2004 budget, draft 2005 budget and forecast budget for 2006

This paper presents, for consideration by the Commission, the projected outcome of the budget for 2004, a draft of the 2005 budget and an indicative forecast for 2006, presented in a format determined by the Commission at its 2002 Meeting. The budgeted expenditure for 2004 is not expected to be exceeded, and possible savings of Scientific Committee-related expenditure have been identified. After accounting for the effect of Staff Assessment Levy, this could yield A$7 500 which, when added to the surplus brought forward from 2003, generates a 2004 surplus of A$39 200 to be recorded as income in 2005. The availability of a surplus enables additional travel expenditure in 2005 to be incurred without an increase in Members’ contributions but, as envisaged by the Commission last year, such an increase in contributions will be needed to pay for the full Implementation of the C-VMS. There is no overall increase in the 2005 budget anticipated in respect of reallocating the Commission’s Headquarters.