Table of Contents Table of Contents
Previous Page  21 / 26 Next Page
Information
Show Menu
Previous Page 21 / 26 Next Page
Page Background

shortfall of NOK 4.15 million. The Board concluded that

the loss in 2007 will be covered from its equity. It should

be kept in mind that the Board follows the general prin-

ciple that earnings will be used solely to support the

mission statement and the long term goals of the foun-

dation. As a non-profit foundation, a primary financial

goal of GRID-Arendal is to have an equity level equiva-

lent to about half of the fixed operational cost. Due to

the losses that occurred in 2007 and earlier years, this

ratio has been reduced to 2.8 % in 2007. The Board

sees the need for continued improvements in GRID-

Arendal’s financial situation.

Except for the financial performance, the Board is generally

pleased with the organisation and management of GRID-

Arendal. Under the leadership of the new Managing Direc-

tor, efforts continue to fulfil its mission to support UNEP, to

develop its areas of activity, to strengthen its management

capability and to improve its financial performance.

The Board concludes that GRID-Arendal’s activities are

consistent with its charter purposes and that it has a

very competent staff for continuing operations and for

planning further strategy-relevant operational activities

in the future.

Olav Orheim

Chairman of the Board

Lars Kristoferson

Kari Elisabeth Fagernæs

Øystein Dahle

28 April 2008

Randi Eidsmo Reinertsen

Paula Kankaanpää

André Støylen

Peter Prokosch

Managing Director

Marion Cheatle

Kathrine Ivsett Johnsen

Orheim

Cheatle

Dahle

Fagernæs

Kankaanpää Kristoferson Reinertsen

Johnsen

Støylen