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Financial Review

Financial Review. Annual Report – 2008. 29-30th October 2008. How the funding flow works. Irish Aid. SIDA. SDC. Finland. GeSCI is currently funded by 4 donors. The donors disburse funds to the GeSCI UNICEF Trust Account based on a formal disbursement request from GeSCI.

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Financial Review

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  1. Financial Review Annual Report – 2008 29-30th October 2008

  2. How the funding flow works Irish Aid SIDA SDC Finland • GeSCI is currently funded by 4 donors. • The donors disburse funds to the GeSCI UNICEF Trust Account based on a formal disbursement request from GeSCI. • Funds are held in the UNICEF Trust Account (in US Dollars) until they are called on by GeSCI. • GeSCI draws down funds from the Trust Account once a quarter. GeSCI UNICEF Trust Account GeSCI bank account

  3. Funding from Donors To 30th June 2008, our donors have provided funding of €6.96m. This includes initial support funding of €1.15m from DCENR, the Department of Communications in Ireland. The latest funds were received in December 2007.

  4. The GeSCI UNICEF Trust Account The GeSCI UNICEF Trust Account is a US Dollar account. The balance in the Trust Account at 30th June 2008 was US$1.38m, which at the prevailing dollar/euro exchange rate of 1.575 is equivalent to €849505.

  5. Summary Income & Expenditure Account The surplus at 30th June 2008 is required to fund GeSCI’s activities until new funds are disbursed by donors in 2008/09.

  6. GeSCI Kenya All of the income in GeSCI Kenya comes from funds disbursed by GeSCI from its headquarters in Ireland. Expenditure relates to the operation of the Nairobi office including three local staff and support for our African programmes and in particular the African Knowledge Exchange.

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