Finances

Financial Report 2018

Total revenue and expenses reported by the International Potato Center (in 2018) were USD 65 million and USD 64.1 million respectively, reflecting a surplus of USD 0.9 million for the year. Revenue increased by USD 1.4 million when compared with 2017, reflecting CIP’s ongoing success in securing bilateral funding, while stabilizing revenue sources from the CGIAR Trust Fund contributors.

On 31 December 2018, CIP’s reserves were USD 16.7 million, representing 92 days of expenditure compared to USD 15.8 million (79 days) 12 months earlier, both well within the CGIAR norms and indicators of CIP’s capacity to cover its planned operations. CIP’s overall financial position continues to be sound and the Center did not need to use any credit facility during the year.

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 and Risk 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 funders and stakeholders.

The financial results presented here are derived from CIP’s audited December 31, 2018 consolidated financial statements, which contain an unqualified audit opinion. CIP’s complete, audited financial statements can be obtained online https://hdl.handle.net/10568/101475 

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