Working capital

(1)     At the 8th session (February 1950: CC/A.8/SR.5 and 6; CO-ORD-PREP/R.176) CCAQ discussed the arrangements of the organizations for working capital funds, their utility and their adequacy. The Committee agreed that each organization should have a working capital fund for financing expenditure pending receipt of contributions, and for unforeseen and extraordinary expenses; that the fund should be subject to regular resolutions of the respective legislative bodies, which also would determine its assessment on the Members, and that payments into the fund should be considered as advances, the amount of the fund being determined periodically by the legislative bodies. The Committee recommended ACC to endorse these principles and to communicate them to the legislative bodies of the organizations.