2003/3
Financial situation of the United Nations Office for Project Services,
including changes in the level of the operational reserve

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