(f) Operating reserve

(j) Operating reserves

quot Operational reserve quot replaced quot financial reserve quot .

( ) Change in operating reserves

C. Operating cash reserve

Note 14. Operational reserve

Note 11. Operational reserve

Note 7. Operational reserve

Non maintenance of operating reserve

(i) Operating and other types of reserves are included in the totals for quot Reserves and fund balances quot shown in the financial statements

Operational reserve, 31 December 1997

(d) The establishment of an operational reserve is described, replacing the previous proposals for a financial reserve and a programme reserve (new rule 9.2).

The Committee is of the view that there should be only one operational reserve.

(i) To comply with the new uniform financial statement formats, the classification of operating reserves and other types of reserves has been changed from that employed previously.

Decision on the review of the Operational Reserve Category II

The level of the operational reserve will be reviewed in 1998.

Projected movement of operational reserve and fund

None of the funds of the operational reserve were utilized in 1997.

(i) To comply with the new uniform financial statement formats, the classification of operating reserves and other types of reserves has been changed from that employed previously.

The 1996 accumulated unspent income of 10,755,362 was transferred to the operational reserve for a new total of 17,555,362 at the end of the current biennium.

b Includes 163,800 required as operating cash reserve for 2003.

d Includes 205,400 required as operating cash reserve for 2004.

f Includes 323,800 required as operating cash reserve for 2005.

It was calculated to be 11,400,000 for the biennium 1996 1997.

Employment Provident Fund

h Includes 290,700 required as operating cash reserve for 2006.

3 Includes 143,700 required as operating cash reserve for 1998.

5 Includes 93,100 required as operating cash reserve for 1999.

2. Operational reserve and annual surpluses of income over expenditure

(b) To ratify the designation of the President of the Central Reserve Bank and of the Superintendent of Banking and Insurance

83. The operational reserve was re established in 1996 at a level of 3 million.

At 31 December 1997, the operational reserve amounted to 63 million.

Financial reserve

a Includes 214,874 required as operating cash reserve for 2004.

b Includes 603,600 required as operating cash reserve for 2005.

f Includes 316,400 required as operating cash reserve for 2006.

The operating reserve amounted to 118,192, and the cumulative surplus to 431,116.

This amounted to a reserve of 3,446,200 under general purpose funds and 6,040,500 under special purpose funds as of 31 December 1995.

In line with this decision, the operational reserve was increased to 63 million in 1995.

(c) Biennialization of the programme budget (EC 55 SC CRP 20)

When reviewing current experience, particular attention was to be given to the requirements for an operational reserve.

The operational reserve is estimated to cover the following contingencies (in United States dollars)

The Board noted that, although some 165,000 should have been held as operating reserve under this instruction, no reserve was maintained.

(b) Approved the level of the operating reserve for the biennium 2006 2007 at 3.03 million, representing 15 per cent of the estimated operational budget expenditure for that biennium

(b) Approves the level of the operating reserve for the biennium 2006 2007 at 3.03 million, representing 15 per cent of the estimated operational budget expenditure for that biennium