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Patrisse Déesse. AFRINIC Finance Function Updates. General Updates 2012 Financial Review Challenges Prospects. Finance Function General Updates. Department Updates Area of responsibilities 2012 Focus Achievements. 2012 Financial Review. 2012 has been pretty much a typical year.
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AFRINIC Finance Function Updates • General Updates • 2012 Financial Review • Challenges • Prospects
Finance Function General Updates • Department Updates • Area of responsibilities • 2012 Focus • Achievements
2012 Financial Review • 2012 has been pretty much a typical year. • 2012 can be characterized by the recruitments of resources to fill in positions in line with our new structure. • There has been some delays which are normally associated with recruitments. Such delays are reflected in our costs as under expenditure in some areas. • On the other hand, the intake of new members has also been slower than anticipated.
Challenges • Our main challenge has revolved around our fee collections • AFRINIC sole source of revenue is membership fees. Delays in fee settlement put a major burden on our operations, in that resources have to be deployed to chase members for payments. • As from 2012, AFRINIC has started to apply the provisions contained in the RSA with regards to non payments. • As from 2013, late payment penalties shall be applied accordingly.
Prospects • AFRINIC operation is growing in size and complexities. • Such growth will be reflected in our financials and shall have a direct impact on the level of services that we continue to provide. • With growth comes challenges. At AFRINIC, we are constantly matching our income against our operating costs without compromising service level. • We can say that we have reached the level of a mature entity and the fruits of our investments shall manifest itself in the years ahead.
