ECMWF is financed principally by contributions from its 34 Member and Co-operating States, which in 2014 totalled £42.0 million out of the Centre’s funding of £54.5 million (net of internal tax). Revenue from sales of data and products provided additional income of £4.7 million, while funding of £7.7 million from external organisations supported research and the other goals of the Centre. ECMWF continued to invest in its staff, infrastructure and systems to provide the highest-quality products to its Member and Co-operating States.
ECMWF’s budget remains on a cash basis and the Financial Statements include a reconciliation of the results under IPSAS and in cash terms. Under cash accounting, the Centre generated a surplus of £1.0 million in 2014, which is available either for future investment or distribution to Member States according to a decision to be made by the Council in 2015.
The Centre’s future pension and post-employment medical cost obligations have been valued at £181.3 million and are fully guaranteed by the Member States.
The main areas of expenditure were remuneration and related items (£24.2 million; £18.9 million net of internal tax), pension and post-employment benefits (£5.5 million), computer expenses (£15.1 million) and buildings (£3.8 million). Net finance costs were £4.9 million. Costs associated with externally funded research projects amounted to £7.5 million (£6.0 million net of internal tax, of which £5.0 million were personnel costs). Capital investment, principally in IT and infrastructure,
totalled £2.3 million.
Statement of Financial Performance for the year ended 31 December 2014
|Member & Co-operating States' contributions||41,997||41,184|
|Externally funded income||7,700||6,876|
|Sales of forecasts and data||4,748||4,450|
|Other operating revenue||19||45|
|Pension and post-employment benefits||5,547||5,825|
|Other operating expenditure||3,283||3,115|
|Externally funded expenditure1||7,524||7,037|
|Net finance costs||(4,859)||
|Net deficit for the year||(3,078)||
1 Externally funded expenditure is inclusive of optional programme expenditure
|Reconciliation of IPSAS and Cash Results||£k||£k|
|Net deficit for the year||(3,078)||(5,077)|
|Assets capitalised in the year||(2,261)||(3,620)|
|Depreciation in the year||2,457||2,279|
|Spend on commitments from previous years||1,847||2,136|
|Commitments carried forward to future years||(2,092)||(1,847)|
|Finance costs for post-employment benefit||4,681||6,260|
|Change in inventory||(81)||391|
|Other IPSAS timing differences||67||527|
|Surplus per cash accounts||1,013||2,034|
|Member States’ Contributions||£k|
|Co-operating States’ Contributions||£k|
|Former Yugoslav Republic of Macedonia||10|
|Single Additional Contributions||201|
|Total Member & Co-operating States’ Contributions||41,997|