Council Resolution 94-02
Annex F
Montreal, October 27, 1994
Funding of the Commission
THE COUNCIL:
Noting that Article 43 of the North American Agreement for Environmental Cooperation stipulates that each Party shall contribute an equal share of the annual budget of the Commission, subject to the availability of appropriated funds in accordance with the Party’s legal procedures;
Further noting that the same article indicates that no Party shall be obliged to pay more than any other Party in respect of an annual budget;
Considering that the Commission might face a practical difficulty with respect to the timing of the payment of a Party’s equal share of the budget as it may affect its ability to retain personnel and deliver the approved program;
Further considering that an initial contribution is required prior to December 15 preceeding each program year and that the final contribution should be made by October 1 of the program year;
Hereby agress that each Party should inform the Executive Director by November 15, 1994 of the payment schedule that a Party intends to follow for program year 1995;
Also agrees that in subsequent program years, each Party will inform the Executive Director by November 15 of the payment schedule for appropriated funds that a Party intends to follow for the subsequent program year provided that a minimum of 30% of the annual contribution is made at the time of the initial payment and no more than 20% at the time of the last payment;
Further agrees that, in cases where the agreed payment schedule for appropriated funds is not followed; the Secretariat could borrow from commercial institutions to meet a shortfall and inform the Party of the interest and related costs incurred which will be added to its obligations under article 43.
Approved on behalf of Council:
Miguel Limón (Mexico)
William Nitze (United States)
Alex Manson (Canada)
Certified by:
____________________________
Victor Lichtinger
Executive Director
Funding of the Commission