15 July 2015
Funding of the Commission for Environmental Cooperation for the financial year 2016
RECOGNIZING the importance of the North American Agreement on Environmental Cooperation (NAAEC) in conserving, protecting, and enhancing the environment;
ACKNOWLEDGING the importance of sustaining key cooperative activities among the Parties, including public engagement in the effective enforcement of environmental law and partnering with communities for environmental action through an adequate level of funding;
NOTINGthat, pursuant to Article 43 of the NAAEC, each Party is to contribute an equal share of the annual budget of the Commission for Environmental Cooperation (CEC), subject to the availability of appropriated funds in accordance with the Party’s legal procedures;
FURTHER NOTING that, pursuant to Rule 4.7 of the Financial Rules, each Party may make its contribution in its national currency;
RECOGNIZING that a surplus of previous Party contributions has accumulated over time;
SUPPORTING the principle that the use of such surplus funds represents a contribution from the Parties to the current annual budget of the CEC; and
TAKING NOTE OF Rule 4.9 of the Financial Rules, which stipulates that the Executive Director shall provide to the Parties a quarterly interim financial report;
DECIDES that the annual budget of the CEC for the financial year 2016 shall be established in Canadian dollars at an amount equal to US$9 million at the Bank of Canada exchange rate in effect on 15 December 2015;
CONFIRMS that each Party shall contribute an equal share to that budget, subject to the availability of funds. This contribution will take into account the allocation of surplus funds from previous years.
FURTHER CONFIRMS that each Party’s contribution for the year 2016 shall be fixed at the Bank of Canada’s exchange rate in effect on 15 December 2015; and
REAFFIRMS the obligation of the Executive Director to submit quarterly financial reports.
APPROVED BY THE COUNCIL:
Government of Canada
Rodolfo Lacy Tamayo
Government of the United Mexican States
Government of the United States of America
On 15 July 2015, the Council signed Council Resolution 15-04 establishing the annual budget of the CEC for 2016 at US$9 million.