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Financial summary
Funding for GRID-Arendal’s 2014 work programme
with the Ministry of Foreign Affairs (MFA) was MNOK
27, with the Framework Agreement extending over a
14-month period ending February 2015. In addition the
foundation received MNOK 4.5 core funds from the
Ministry of Climate and Environment (MCE).
At the beginning of 2014, 58% (or MNOK 19.3) of the
budgeted external funding from UNEP and other external
clientshadnot yet beencontracted.Despite these fundraising
challenges, the 2014 project expenditures ended at MNOK
52.0, which was only MNOK 2.4 less than budgeted. The
variance is mainly related to delayed implementation of
three large projects. Figure 1 shows the amounts and sources
of funds for the six thematic programme areas.
Overall the foundation generated a financial surplus of
MNOK 0.4 for 2014, which was MNOK 1.1 less than
budgeted. The equity balance was NOK 7.3 at the end of
2014, which equals an equity ratio of 30%. The financial
results have been audited by an external auditor (KPMG).
8.
Financial report for 2014
During 2014 GRID-Arendal operated with staff rates from
junior level to senior experts in the range ofNOK654 toNOK
908 per hour. In order to be internationally competitive and
attract external funding, the foundation has not increased
the staff rates or the 13% mark-up on costs for the last six
years although costs have increased. In a few cases, such as
for EU and EEA externally funded projects, rates are lower
than those given above. For travel and accommodation
public Norwegian rates are used (“Statens Reiseregulativ”).
Programme funding 2014
The actual funding reported for 2014 does not equate
with the total long term secured funding. Only funding
to be spent on 2014 activities according to contracts, work
programmes and budgets are reported as 2014 funding
in this report.
Beyond the MFA funding of MNOK 27.0 and the MCE
funding of MNOK 4.5 in 2014, GRID-Arendal raised a
total of MNOK 9.0 from UNEP and MNOK 11.4 from
other external sources. This represents 39% of the total
funding of MNOK 51.9 (see Table 1).
-‐
01
02
03
04
05
06
07
08
09
10
11
12
13
14
15
16
17
18
19
20
21
1-‐Environmental
Crime
2-‐Transboundary
Waters
3-‐Suppor to ODA
countries
4-‐AdapFon to
Climate Change
5-‐Marine and
Coastal Resources
6-‐Other
UNEP External
CORE MFA
Figure 1: Actual 2014 funding by source (MNOK)
MCE