CIP successfully increased fundraising for Window 3 and Bilateral funds; however, due to a reduction in Window 1 and Window 2 of the CGIAR Fund, 2016 revenues were on the same level of 2015. Total revenue reported in 2016 is $58.7M, including $19.9M from Windows 1 and 2. While operational results were in line with total revenue, in 2016 CIP reported a deficit of $0.9M as a result of a number of necessary accounting adjustments from previous years.
The financial results depicted here are derived from CIP’s audited December 30, 2016 consolidated financial statements which contain an unqualified audit opinion. CIP’s complete audited financial statements can be obtained online.
Luís Felipe Mendes
Chief Financial Officer
The indirect cost ratio of the Center was 15% for 2016. The ratio has been calculated following the CGIAR Financial Guidelines N°. 5, and expresses the relation between direct and indirect costs.
LIQUIDITY AND FINANCIAL STABILITY
The long-term financial stability indicator (adequacy of reserves), which measures the number of days of unrestricted net assets that can be used to cover CIP’s operations, is 90 days.