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Highlights from 92 nd Session of the WCO Finance Committee

Highlights from 92 nd Session of the WCO Finance Committee. Brendan C. O’Hearn. Director, Strategic Operations Office of International Affairs, CBP Vice Chair, WCO Finance Committee. Members:. *Members not present. Observer:. Participants. Azerbaijan China European Union

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Highlights from 92 nd Session of the WCO Finance Committee

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  1. Highlights from 92nd Session of the WCO Finance Committee Brendan C. O’Hearn Director, Strategic Operations Office of International Affairs, CBP Vice Chair, WCO Finance Committee

  2. Members: *Members not present Observer: Participants Azerbaijan China European Union Gambia Germany Italy Japan Mongolia Netherlands Panama Paraguay Saudi Arabia Spain Switzerland Uganda United Kingdom United States Audit Committee Chair – Ecuador (represented by Vice-Chair – Luxembourg)

  3. Recommendations to WCO Council • Acquit Secretary General of financial responsibilities for FY 2010/2011 • Add the budget surplus of 2+ million Euros FY 2010/2011 to the reserves • Reserves now stand at 8.5 million Euros • WCO Investments – Merrill Lynch Bank of America

  4. Recommendations to WCO Council • Continue to use the CCR benchmark • Adopt CCR’s recommendations for daily subsistence, kilometric allowance and expatriation allowance • Remuneration: FY 2011/2012 no 2.2%, but a 1.1% increase instead • 0.5 % increase in Members’ Contributions for FY 2012/2013 • 1 % increase in the GOE for FY 2012/2013

  5. Publications Policy • WCO will continue to develop the Publications survey to assess whether Members are willing to pay for publications • WCO will continue to look for revenue streams and to boost sales of publications to trade to offset losses • Recommend WCO maintain status quo on the current publications policy while the Finance Committee continues to examine this issue

  6. THANK YOU

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