Overview of UNICEF Financial Management 26 October 2017
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Overview of UNICEF Financial Management26 October 2017
2
Financial Regulatory Framework
• UN Staff Rules
• UNICEF Financial Regulations and Rules• Regulations approved by the Executive Board
• Rules approved by Executive Director
• Comptroller delegated to implement Rules via policies
• UNICEF Policies and Procedures
• International Public Sector Accounting Standards
(IPSAS)
3
Accountability
• Executive Director is fully responsible and accountable to the Executive Board
• All officials are accountable to the Executive Director for their actions. They may be held personally responsible and financially liable for the consequences of contrary actions.
• Officials may be required to reimburse UNICEF for financial losses as a result of their negligence or violation of framework.
Funding Streams
4
REVENUE
REGULAR
RESOURCES(Un-earmarked)
OTHER
RESOURCES(Earmarked)
OTHER
RESOURCES(Emergency)
OTHER
RESOURCES(Regular)
5
Planning & Budgeting
UNICEF Strategic Plan and Integrated Budget
- every 4 years -
Year 1 Year 2 Year 3 Year 4
Updated
Resource
Plan
Updated
Resource
Plan
Updated
Resource
Plan
Updated
Resource
Plan
5 year Country Programme Documents (CPDs)
Audited
Financial
Statements
Audited
Financial
Statements
Audited
Financial
Statements
Audited
Financial
Statements
6
Integrated Budget
• Budget categories• Programme
• Institutional
• PFP
• Country• Global and regional
• Development effectiveness• Management• Capital investment
• Programme RR allocations• RR allocated according to formula based on three core criteria :
• Gross National Income (GNI) per capita• Under-five mortality rate• Child Population
• Minimum allocation: $850k
UNICEF
2018 - 2021 Budget
7
© U
NIC
EF
/NY
HQ
2011
-0098/N
OO
RA
NI
(in millions of US dollars)
8
732 791 812 1,056 1,106 1,085 1,066 965 1,078
1,288 1,265 1,326 1,174 1,312 1,312 1,405 1,517 1,638 1,742 958 1,187
1,950 1,725
1,907
2,305 2,190
2,717 2,633 2,657
3,588 3,843 3,836
3,571 3,721 3,830 4,049
4,230 4,404
1,690 1,977
2,762 2,781 3,013
3,390 3,256
3,682 3,711 3,945
4,853 5,169
5,010 4,884 5,033 5,235
5,566 5,868
6,145
0
500
1,000
1,500
2,000
2,500
3,000
3,500
4,000
4,500
5,000
5,500
6,000
6,500
2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021
Regular resources Other resources Total Contributions
Revenue Trend 2003-2021
Humanitarian programmes in Syria, Africa, Iraq, Nepal, YemenHaiti
earthquakeGlobal Food Price crisis
Indian Ocean tsunami
2018-2021 Revenue by Source
9 UNICEF for every child
UNICEF is voluntarily funded with two
main sources of revenue:
Public$14,583
64%
Private$8,231
36%
As a result of sustained investment, the Private
Sector will contribute 57% of the Organizations
RR revenue for 2018-2021
Public Sector (two-thirds) and Private
Sector(one-third)
2018-2021 Revenue by Source
10 UNICEF for every child
$3,611 44%
$4,220 51%
$4005%
Private Sector
$2,69118%
$6,21943%
$5,67439%
Public Sector
RR
ORR
ORE
11
$8,110.940.0%
$4,055.520.0%
$2,433.312.0%
$3,933.819.4%
$1,743.88.6%
GOAL AREA 1:
EVERY CHILD
SURVIVES AND
THRIVES
GOAL AREA 2:
EVERY CHILD LEARNS
GOAL AREA 3:
EVERY CHILD IS
PROTECTED FROM
VIOLENCE AND
EXPLOITATION
GOAL AREA 4:
EVERY CHILD LIVES
IN A SAFE AND CLEAN
ENVIRONMENT
GOAL AREA 5: EVERY CHILD HAS
AN EQUITABLE CHANCE IN LIFE
RR: $846
OR: $3,088
RR: $523
OR: $1,910RR: $872
OR: $3,183
RR: $374
OR: $1,369
RR: $1,744
OR: $6,367
US$ MILLIONS
2018-2021 Strategic Plan
Integrated Resources and Results Framework
UNICEF Internal Control Framework
12
© U
NIC
EF
/NY
HQ
2011
-0098/N
OO
RA
NI
13
Internal Control Framework
• COSO Internal Control Integrated Framework as prescribed by the INTOSAI (International Organization of Supreme Audit Institutions) Guidelines for Internal Control Standards for the Public Sector
14
UNICEF Culture
• Strong Ethics Office
• Policies and standards• UN Staff Rules, Standards of Conduct for International Civil Servants
and Code of Ethics
• UNICEF Anti Fraud Policy
• UNICEF Financial Regulations and Rules
• UNICEF HR Manual
• UNICEF Supply Manual
• UN Policy on Gifts, UN Supplier Code of Conduct & related UNICEF
instruction on Acceptance of Awards, Decorations, Gifts, Honours,
Medals, Remuneration, etc.
• Management reviews and discussions• GMT
• Performance reviews
• Oversight committees
• Internal broad access to all policies, dashboards,
audit reports, annual disciplinary report
15
INTERNAL CONTROL FRAMEWORK
Value
for
Money
ERMRegulatory
FrameworkTLM
Anti-
fraud
Strategy
RBB
FOCUS AREAS
16
Enhancing the Internal Control Framework
Internal Controls Assessment• Assess the UNICEF Internal Controls Framework against the COSO
Framework and address gaps identified.
Value for Money• Policy framework being development for the achievement of results
through Economy, Efficiency, Effectiveness and Equity.
Enterprise Risk Management• Risk management components of annual office management planning
tools strengthened
• Revised ERM policy, procedure and training in development.
• Enterprise Risk Management software identified for implementation.
Regulatory Framework• Organizational regulatory content library launched July 2017.
• Systematic approach to regulatory content development introduced.
• Policy management platform identified for implementation.
17
Enhancing the Internal Control Framework
Transaction Level Management• Key transactions monitored through preventive and detective system
reports and tools
• TLM software to be piloted using key transaction data for more
consistent and systematic monitoring and reporting.
Anti-Fraud Strategy• Promotes anti-fraud culture focusing on deterrence, prevention and
detection.
• Provides clear guidance on managing fraud risk, remedial action and
recovery of losses.
Results Based Budgeting• Complements Results Based Management Organizational approach
• Supported by development of Budget Formulation Tool (BFT)
18
Oversight
• Executive Board
• ACABQ
• Internal management reviews
• Annual external audit
• Evaluation Office
• Internal audit
• Audit Advisory Committee
• JIU reviews
• Donor reviews
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