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Title: FY2020 - Output Cost Estimates and Budget Outturn

10/23/2020 | 05:55pm EST

FY2020-OUTPUT COST ESTIMATES AND BUDGET

October 2020

OUTTURN

IMF staff regularly produces papers proposing new IMF policies, exploring options for

reform, or reviewing existing IMF policies and operations. The Report prepared by IMF

staff and completed on July 30, 2020, has been released.

The staff report was issued to the Executive Board for information. The report was

prepared by IMF staff. The views expressed in this paper are those of the IMF staff and

do not necessarily represent the views of the IMF's Executive Board.

The IMF's transparency policy allows for the deletion of market-sensitive information and

premature disclosure of the authorities' policy intentions in published staff reports and

other documents.

Electronic copies of IMF Policy Papers

are available to the public from

http://www.imf.org/external/pp/ppindex.aspx

International Monetary Fund

Washington, D.C.

© 2020 International Monetary Fund

July 30, 2020

FY2020-OUTPUT COST ESTIMATES AND BUDGET OUTTURN

EXECUTIVE SUMMARY

The FY2020 outturn, including the impact of the COVID-19 related crisis late in the year, was in line with expectations reflected in the FY 21-23 Medium-termBudget and Supplement, as discussed by the Executive Board in April 2020. Unused carry forward funds of $55 million are available-$45 million for general use to meet transitional needs (including $8 million in FY 20 structural underspending), and the remainder for the Offices of Executive Directors (OED) and the Independent Evaluation Office (IEO).

This paper provides more detailed information on the final FY 20 outturn, including an analysis of what was delivered (by output) and the associated expenses (by input).

The report also highlights the shift in the use of resources during the last two months of the fiscal year driven by the COVID-19 related crisis. The immediate crisis response included ramping-up Fund financing to members, adapting financial instruments and facilities, assessing the macroeconomic and financial implications of the crisis, and disseminating policy advice that reflected the impact of the crisis on macroeconomic and financial conditions, while incorporating health and social considerations. At the same time, the Fund addressed operational needs related to business continuity in the context of the work-from-home environment and a travel ban. With uncertainties from the COVID-19 crisis remaining high, the Fund's budget is expected to continue to be affected for some time.

FY2020 OUTPUT COST ESTIMATES AND BUDGET OUTTURN

Approved By

Prepared by the Office of Budget and Planning (OBP) team lead by

Michele Shannon

Sepideh Khazai and Piyabha Kongsamut under the supervision of

Gisela Ulmschneider, with contributions from Gillian Adu,

Anand Balakrishnan, Rebecca Brofft, Melanie Burke, Raquel Chuayffet,

Angeliki Economopoulos, Mercy Alarcon Pinargote,

Axel Schimmelpfennig, Anika Shtuni, Justin Tyson, Muriel Vimond,

Barrie Williams, and Jiu Hong Zhou.

CONTENTS

FY2020 HIGHLIGHTS ____________________________________________________________________________ 4

OVERVIEW _______________________________________________________________________________________ 5

SPENDING BY OUTPUTS ________________________________________________________________________ 6

A. Crisis-Impact on Budget Execution_____________________________________________________________ 6

B. Spending by Thematic Category, Relative to Budget ___________________________________________ 7

C. Spending on FY 20 Priority Topics _____________________________________________________________ 8

D. Spending Relative to FY 19 ____________________________________________________________________ 9

SPENDING BY INPUTS _________________________________________________________________________14

A. Details by Major Budget Category ____________________________________________________________ 14

B. Carry Forward _________________________________________________________________________________ 19

CAPITAL SPENDING____________________________________________________________________________20

BOXES

  1. Spending Patterns by Departments ___________________________________________________________ 11
  2. Externally Financed Activities and the Fund-Financed Budget_________________________________ 14

FIGURES

  1. Emergency Financing Cases in FY 20 ___________________________________________________________ 6
  2. Hours Spent, by Output ________________________________________________________________________ 6
  3. Change in Spending by Thematic Category, FY 20 vs. FY 19____________________________________ 9
  4. Change in Spending: Non-Country Work, FY 20 vs. FY 19 _____________________________________ 10
  5. Average Spending per Country, FY 19 vs FY 20 _______________________________________________ 12
  6. Average Country Spend by Income Grouping, FY19-20 _______________________________________ 13
  7. Country Operations by Input, FY19-20Q1-Q4 ________________________________________________ 13
  8. Trends in Personnel Spending ________________________________________________________________ 15
  9. Overtime Rate by Grade Group, March and April FY19-20 ____________________________________ 16
  10. Fund-FinancedSpending on IT, Buildings and Other, FY18-20 ______________________________ 17

2INTERNATIONAL MONETARY FUND

FY2020 OUTPUT COST ESTIMATES AND BUDGET OUTTURN

  1. Security-relatedSpending, FY18-20 _________________________________________________________ 18
  2. Available Resources and Use of Carry Forward, FY 20 ________________________________________ 19
  3. Spending by Main Departments and Offices, FY 20 ______________________________________________ 19
  4. IT Capital Expenditures, FY 20________________________________________________________________ 20
  5. Facilities Capital Expenditures, FY 20_________________________________________________________ 22

TABLES

  1. Overview of Administrative Budget and Expenditures, FY19-20________________________________ 5
  2. Gross Administrative Fund-Financed Resources by Thematic Categories, FY19-20_____________ 7
  3. Estimated Non-CD Spending on Priority Topics, FY 20 _________________________________________ 8
  4. Administrative Budget and Expenditures, Breakdown by Major Expense Category, FY 20 _____ 14
  5. Travel, FY18-20________________________________________________________________________________ 16
  6. Travel Metrics by Region, FY18-20 ____________________________________________________________ 17
  7. Receipts, FY18-20 _____________________________________________________________________________ 18
  8. Capital Expenditures, FY 20 ___________________________________________________________________ 20

ANNEXES

  1. Capacity Development_________________________________________________________________________ 23 II. Statistical Tables ______________________________________________________________________________ 31

INTERNATIONAL MONETARY FUND 3

This is an excerpt of the original content. To continue reading it, access the original document here.

Disclaimer

IMF - International Monetary Fund published this content on 23 October 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 23 October 2020 21:54:06 UTC


© Publicnow 2020
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