The Executive Board
1. Takes note of the report of the United Nations Office for Project Services (UNOPS) on the implementation of the UNOPS revised budget 2002 (DP/2003/CRP.3) and its supplementary information;
2. Notes that the preliminary year-end figures are close to year-end projections as set out in DP/2003/CRP.3 and notes further with appreciation the efforts made by UNOPS staff in this regard;
3. Expresses its concern over the continued reduction in the level of the operational reserve;
4. Requests that the Executive Director a.i. of UNOPS submit a report by 1 April 2003 to the Executive Board, through the Management Coordination Committee, on updated actual end-of-year figures for 2002 and projected income and expenditure figures, as well as the level of the operational reserve, for 2003.
23 January 2003