Working Capital Fund for the biennium 1998-1999

Resolves that: the Working Capital Fund shall be established for the biennium 1998-1999 in the amount of US$100 million; the Secretary-General is authorized to advance from the Working Capital Fund: (a) such sums as may be necessary to finance budgetary appropriations pending the receipt of contributions; (b) such sums as may be necessary to finance commitments that may be duly authorized under the provisions of the resolutions adopted by the General Assembly, in particular resolution 52/223 of 22 Dec. 1997 relating to unforeseen and extraordinary expenses; (c) such sums as may be necessary to continue the revolving fund to finance miscellaneous self-liquidating purchases and activities that, together with net sums outstanding for the same purpose, do not exceed $200,000; (d) with the prior concurrence of the Advisory Committee, such sums as may be required to finance payments of advance insurance premiums, where the period of insurance extends beyond the end of the biennium in which payment is made and to enable the Tax Equalization Fund to meet current commitments pending the accumulation of credits; should the provision in paragraph 1 above prove inadequate to meet the purposes normally related to the Working Capital Fund, the Secretary-General is authorized to utilize, in the biennium 1998-1999, cash from special funds and accounts in this custody.

Adopted without vote, 79th meeting

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Adopted at the 79th plenary meeting, 22 Dec. 1997.