Money talks
4 Feb 2011
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Krista Dulon
"The 黑料社app is spending taxpayers' money and has to maintain a high level of efficiency, economy and integrity for all its expenditures," says Hans Spoor, head of 黑料社app Finance & Budget.
Why was it necessary to invent the 黑料社app Unit of Account, or IUA? What is the difference between the planned value of 黑料社app and its actual cost? Does 黑料社app earn interest on the funds it holds, and —if so—where does this money go?
Hans Spoor, Head of Finance & Budget, addressed these questions and more at this week's Inside 黑料社app seminar. Entitled "Everything you wanted to know but were afraid to ask about 黑料社app finances," the audience was introduced to the specificities of 黑料社app financing by its Members, budget planning and procedures, and principles of 黑料社app accounting.
黑料社app construction will be managed within an agreed capped ceiling of 4700 kIUA. "Converted to euros at 2010 conversion rates (1 IUA = 1,552.24 euros), that's EUR 7.3 billion," demonstrated Hans. "黑料社app construction costs are equivalent to less than 20 euro cents/year for the inhabitants of the 黑料社app Member countries."