Finances

Financial Report 2016

CIP’s 2016 Audited Financial Statements

Still recovering from a reduction in Window 1 and Window 2 funding over the past two years, CIP saw a leveling in revenues for 2016. Total Revenue reported in 2016 was $58.7M. The revenue from Windows 1 and 2 represents a decrease of $6.5M, while Window 3 and Bilateral increased $8.1M when compared to 2015. CIP’s Operating Expenses in 2016 are $59.7M and present a reduction of $0.8M from 2015.

The short-term solvency indicator (liquidity), which measures the number of days of working capital to fund expenditures excluding depreciation, was 105 days as of December 31, 2016. While the long-term financial stability indicator (adequacy of reserves), which measures the number of days of unrestricted net assets, was 90 days (both indicators are within the CGIAR recommended norms). The indirect cost ratio of the Center was 15.2% for 2016. The ratio has been calculated following the Financial Guidelines No. 5 and expresses the relation between direct and indirect costs.

 

CIP’s financial indicators reflect the Center’s continued financial health, though no institution is immune to financial or operational risk. To mitigate risk, the Board’s Audit Committee ensures oversight of CIP’s risk management policies and plans. In a much broader sense, the Board oversees Center operations in the interest of donors and stakeholders.

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