## pp080717-fy2017-output-cost-estimates-and-budget-outturn-paper

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### Executive summary — FY2017 highlights
- Net administrative spending against a budget of $1.072 billion: $1.066 billion (99.4 percent utilization).
- Year-on-year real increase in net expenditures: 0.8 percent.
- Increase in number of programs: 27 percent.
- Country work (excluding regional technical and training centers (RTACs)) represents 49 percent of total direct spending.
- Externally financed activities (receipts): $2 million.
- Carry forward available for FY 18 to meet transitional needs; $30 million for staff and remainder for OED and IEO.
- Capital spending: $44 million (headline figure in highlights).
  - Capital spending allocation: 62 percent for HQ1 Renewal, 23 percent for information technology projects and the remainder for facilities work.
  - $153 million noted elsewhere in highlights (context: carry forward available for FY 18 to meet transitional needs; $30 million for staff and remainder for OED and IEO).
- Aggregate execution rate close to 100 percent against the approved structural budget.

### Overview — key findings and shifts
- Operating within a flat real budget envelope, the Fund delivered on the Global Policy Agenda (GPA) priorities.
- Small shift away from country and regional work toward policy work.
- Within country work, spending shifted from lending activities toward bilateral surveillance and capacity development (CD).
- Active use of carry-forward resources allowed some departments (mainly support) to exceed structural budgets.
- Aggregate execution rate close to 100 percent against the approved structural budget.

### Spending by output — major trends and key statistics
- Country work declined as a share of direct outputs; overall decline in country work: 0.6 percentage points.
- Fund-financed country work (surveillance, lending and CD) saw an unexpected drop relative to budget plans.
- FSAP program increased the share of bilateral surveillance; bilateral surveillance increased by 0.5 percentage points.
- Despite 27 percent increase in number of programs, share of spending on lending activities fell by 1.4 percentage points.
  - Reasons cited: decline in cost of some expensive program cases (GRA and PRGT) and transitions from programs to non-financial instruments.
- Fund-financed CD activity broadly unchanged from FY 16; externally financed CD activity increased (TA on PFM and revenue administration to African countries; opening of SARTTAC).
- Analytical and policy work increased on international financial architecture and vulnerabilities/cross-cutting analysis; regional analysis declined.
- Share of multilateral surveillance, policy and other analytical work declined by 0.2 percentage points.

Selected output-level figures (Millions of FY 17 U.S. dollars; percent of total as presented)
- Multilateral surveillance: FY17 Outturn 242 (percent examples: 19.6).
- Global economic analysis: FY17 Outturn 120 (percent examples: 9.7).
- Oversight of global systems: FY17 Outturn 128 (percent examples: 10.4).
- Bilateral surveillance: FY17 Outturn 308 (percent examples: 25.0).
- Lending (incl. non-financial instruments): FY17 Outturn 166 (percent examples: 13.4).
- Capacity development (CD): FY17 Outturn 345 (percent examples: 27.9).
- Technical assistance: FY17 Outturn 288 (percent examples: 23.3).
- Training: FY17 Outturn 75 (percent examples: 4.6).
- Total output estimates FY 17 Outturn: 1,235 (Total FY 17 Budget Estimate: 1,272).

Memorandum — gross and net administrative figures (Millions of U.S. dollars)
- Total Gross Expenditures FY 17 Budget: 1,273; Outturn: 1,255; Utilization: 98.6 percent.
- Total Net Expenditures FY 17 Budget: 1,072; Outturn: 1,066; Utilization: 99.4 percent.
- Fund-financed Personnel FY 17 Budget: 825; Outturn: 825; Utilization: 99.9 percent.
- Fund-financed Travel FY 17 Budget: 83; Outturn: 75; Utilization: 90.4 percent.
- Fund-financed Building and other expenses FY 17 Budget: 193; Outturn: 205; Utilization: 105.9 percent.
- Receipts FY 17 Budget: -40; Outturn: -35; Utilization: 88.0 percent.
- Net expenditures (Fund-financed) FY 17 Budget: 1,072; Outturn: 1,070; Utilization: 99.7 percent.
- Externally-financed gross expenditures FY 17 Budget: 160; Outturn: 150; Utilization: 93.6 percent.
- Total net available resources and spending FY 17 Budget: 1,116; Outturn: 1,066; Utilization: 95.5 percent.

### Country spending — alignment with risk and vulnerability
- Average country spending broadly aligned with risk assessments and comparable with FY 16.
- Small reduction in support to intensive surveillance countries; greater support to program countries.
- Spending highest for countries with programs or identified as vulnerable; vulnerable program countries receive the most resources on average.
- Across regions, average spending per country highest in African countries, reflecting a high share of program countries.
- Historical shift (FY 12 to FY 17):
  - Share of multilateral surveillance and oversight of global systems fell by 2.6 percentage points, now representing 30 percent of total spending.
  - Country work represents close to two-thirds of total spending (including RTACs).
  - Share of lending has fallen by 4 percentage points since FY 12.
  - Share of bilateral surveillance increased by 2.8 percentage points.
  - Share of CD increased by 4.0 percentage points.

### Execution against total available resources and carry-forward
- Execution against total available resources (structural plus carry-forward funds) was 96 percent.
- $43 million in eligible unspent resources was carried over from FY 16 and available for FY 17 spending.
- Of the $29 million available to staff departments:
  - $18 million was made available early in the year.
  - An additional $6 million was distributed throughout the year.
- Carry forward (Millions of U.S. dollars as presented):
  - Carry forward undistributed: 6.
  - Carry forward distributed: 23.
  - Carry forward - OED,IEO: 14.
  - Contingency - Staff: 8.
  - Contingency - OED,IEO: 3.
- Support and Functional non-TA departments utilized all resources available to them (structural budget plus carry forward).
- Several departments underutilized their total available resources, offsetting departments that used carry forward to exceed structural budgets and leaving the stock of carry forward available for FY 18 unchanged.

Departments with additional FY 17 allocations or higher spending
- Information Technology Department (ITD): HQ1 renewal office moves, project management consulting, IT support services.
- Corporate Services and Facilities Department (CSF): translation and multimedia services and security-related activities.
- Strategy Policy and Review Department (SPR): support for the G20 Presidency, macro-financial and structural work.
- Monetary and Capital Markets Department (MCM): systemic FSAP work and macro-financial surveillance costs.
- Human Resources Department (HRD): HR system fixes and replacement effort for HR strategy work.

Departments with underutilization
- European Department (EUR): larger reductions in program work, fewer missions, larger than planned personnel vacancies.
- African Department (AFR): delays in onboarding and filling vacancies and the impact of the strong dollar on overseas expenditures.

### Personnel, staffing, and overtime
- Fund-financed personnel budget almost fully utilized.
- Overall staffing levels increased by 1 1/2 percent.
- Contractual employment comparable to FY 16.
- Externally funded regular staffing levels increased by 11 percent.
- Fund-financed staffing increased by 1.6 percent; CoE reform created 53 new staff positions in FY 17.
- Overall vacancy rate: about 1.4 percent; range: 2.0 percent in area departments to 0.4 percent in support departments.
- Fund-financed regular staff (Table 2 FTE context): Budget 2,727; Outturn 2,767 (FY 17 table context preserved).
- Average overtime rate declined to 10.8 percent compared with 11.5 percent at the end of FY 16; target rate: 10 percent.

Total Fund employment (selected)
- Total Fund employment: FY 15 = 3,661; FY 16 = 3,704; FY 17 = 3,762.
- Regular, fixed term, limited term staff: FY 15 = 2,784; FY 16 = 2,835; FY 17 = 2,890.
- Expert and contractual staff: FY 15 = 877; FY 16 = 869; FY 17 = 872.

### Travel metrics and spending
- Despite an increase in number of missions, travel spending fell year-on-year.
- Number of missions: FY 15 = 7,776; FY 16 = 8,005; FY 17 = 8,170.
- Mission nights: FY 15 = 88,094; FY 16 = 92,979; FY 17 = 93,668.
- Mission persons: FY 15 = 12,326; FY 16 = 13,114; FY 17 = 13,153.
- Estimated travel expenditures (FY 17 Outturn, Millions of U.S. dollars): Total 189; Fund-financed 115; Business travel (Fund-financed) 75; Seminars 5; Other travel 11; Externally-financed 39; Business travel (Externally-financed) 29; Seminars and other travel 10.
- Note: Includes an estimated $3.8m of costs related to travel to the Annual Meetings in Lima.
- Transportation cost per mile fell by around three percent in FY 17 due to favorable airline pricing.

### Building, services, and security-related spending
- Total buildings and other expenses: FY 17 Budget 205; Outturn 218 (Millions of U.S. dollars).
- Fund-financed building and other expenses: FY 17 Budget 193; Outturn 205.
- Building occupancy: FY 17 Budget 56; Outturn 61.
- Information technology: FY 17 Budget 61; Outturn 64.
- Contractual services: FY 17 Budget 38; Outturn 39.
- Subscriptions and printing: FY 17 Budget 19; Outturn 21.
- Carry forward resources used to cover security, language services, higher contractual services, Spring and Annual Meetings, and delays in IT savings.

Box 1 — Security-related spending (key figures)
- Board-approved increase of $6 million to cover security needs was fully utilized.
- Security-related spending increased to $35.6 million in FY 17, $0.9 million higher than assumed in the budget.
- Security spending by category (FY 15–17, Millions of FY 17 dollars):
  - Administrative expenses: FY 15 29.2; FY 16 33.1; FY 17 35.6.
  - Field security: FY 15 8.0; FY 16 10.2; FY 17 9.7.
  - HQ security: FY 15 14.0; FY 16 14.3; FY 17 15.7.
  - Business continuity: FY 15 0.6; FY 16 0.7; FY 17 0.9.
  - IT security: FY 15 6.6; FY 16 7.9; FY 17 9.3.
  - In percent of administrative budget: FY 15 2.3; FY 16 2.6; FY 17 2.9.
  - Capital expenses: FY 15 7.2; FY 16 4.3; FY 17 4.2.

### Receipts and externally-financed capacity development (CD)
- Total receipts (table context): FY 17 Outturn 189 (Millions of U.S. dollars).
- Externally-financed capacity development (direct cost only): FY 17 Outturn 153.
- General receipts: FY 17 Outturn 35.
- Administrative and trust fund management fees: FY 17 Outturn 11.
- Growth driven by reimbursements from externally funded CD; shortfall vs. budget attributed to implementation delays and some security concerns.
- General receipts in line with FY 16 but lower than budget, partly due to lower reimbursements under cost-sharing agreements with the World Bank.

Externally-financed outturn and CD delivery
- Spending on externally financed CD activities increased by 5 percent in real terms in FY 17.
- Externally financed personnel spending grew 3 percent in real terms in FY 17; Fund-financed personnel spending increased 0.4 percent.
- Number of regular staff FTE covered by external financing increased by 11 percent to 77 percent.
- Utilization of experts and other contractual staff increased by less than one percent.
- Externally financed travel spending grew slightly; externally financed missions increased by 3 percent.

Execution and budget outturn (externally-financed CD)
- Gap between budgeted and delivered activities in FY 17: $7 million, or 4 percent of the budget.
- Table of budget vs. outturn FY 13–17 (Millions of U.S. dollars):
  - FY 13 Outturn 117; Budget 127; Difference 10.
  - FY 14 Outturn 124; Budget 138; Difference 14.
  - FY 15 Outturn 131; Budget 154; Difference 23.
  - FY 16 Outturn 142; Budget 157; Difference 15.
  - FY 17 Outturn 153; Budget 160; Difference 7.

Sources of external funding (selected five-year aggregates)
- Top 15 partners contributed $646 million, or 84 percent of total external funding.
- Five partners contributed more than $40 million during this period: Japan, the European Union, the United Kingdom, Switzerland, and Canada.
- Capacity Development Vehicles — top aggregates (FY 13–17, Millions of U.S. dollars; percent shares):
  - Multidonor: Contribution 375; Share 56.
  - Topical Trust Funds (TTFs): Contribution 86; Share 13.
  - Regional Training Centers (RTCs): Contribution 103; Share 15.
  - Bilateral: Contribution 291; Share 44.
  - Total: Contribution 666; Share 100.
- RTAC donor contributions (FY13–17, Millions of U.S. dollars; share):
  - Japan 154 (20); European Union 121 (16); United Kingdom 65 (8); Switzerland 63 (8); Canada 43 (6); Total: 766 (100).

### Capacity Development — volume, distribution, and delivery
- CD share of total spending rose from about 24 percent in FY 12 to about 28 percent in FY 17.
- TA measured in field delivery: 300 FTEs in FY 17 (slight decline from FY 16).
- TA by income group (Person-years of field delivery, FY 17):
  - Advanced economies: 17.
  - Emerging market and middle-income economies: 125.
  - Low-income developing countries: 151.
  - Multiple regions: 87.
- TA by program status (FY 17):
  - Program countries: 110.
  - Non-Program: 184.
  - Number of countries: 44.
- TA topic (Person-years, FY 17):
  - Fiscal: 158.
  - Monetary and financial sector: 72.
  - Statistical: 35.
  - Legal: 12.
  - Other: 23.
- TA staff type (Person-years, FY 17):
  - Long-term resident experts: 118.
  - Short-term experts: 97.
  - HQ-based staff: 85.
- Funding source (Person-years, FY 17):
  - Fund-financed: 51.
  - Externally-financed: 250.
  - Total: 300.
- Externally financed TA accounted for about 83 percent of TA field delivery in FY 17.
- TA delivery outcomes relative to priorities:
  - TA delivery increased by about 7 percent to fragile states.
  - TA delivery increased by about 7 percent in domestic revenue mobilization.
  - TA delivery increased by about 4 percent in PFM.
  - TA delivery to program countries grew by about 20 percent in FY 17 to one-third of the total.

### Training (ICD) — volumes and modalities
- Total training volume FY 17: about 15,300 participant weeks (Table 8: Total FY 17 = 15,339).
- Training delivery by department (participant-weeks, FY 17):
  - FAD 353; ICD 12,686; LEG 368; MCM 355; STA 1,487; Other 91.
- Training by region (participant-weeks, FY 17):
  - AFR 3,451; APD 3,009; EUR 2,674; MCD 4,146; WHD 2,059; Total 15,339.
- Training by income group (participant-weeks, FY 17):
  - Advanced economies 896; Emerging market and middle-income economies 8,810; Low-income developing countries 5,392; Other 242; Total 15,339.
- Online learning: started FY 14 and grew to almost 40 percent of training in FY 17; number of online courses increased to nineteen in FY 17 from thirteen in FY 16.

Course category volumes (participant-weeks, FY 17)
- Financial Sector Policies: 2,552.
- Fiscal Policy: 1,919.
- General Macroeconomic Analysis: 6,240.
- Macroeconomic Statistics (STA): 1,487.
- Legal courses including AML-CFT (LEG): 368.
- Monetary and Financial Sector (MCM): 355.
- Monetary, Exchange Rate, and Capital Account Policies: 715.
- Special Topics: 1,152.
- Total: 15,339.

Training to CD priority groups (participant-weeks)
- Fragile states: FY 17 = 2,488 (up about 17 percent).
- LIDCs: FY 17 = 5,392 (up about 5 percent).
- Program countries: FY 17 = 4,842 (grew by about 30 percent).

### Capital investment and HQ1 Renewal (key figures)
- Spending on capital investments totaled $122 million in FY 17 out of $364 million available in appropriations.
- Unspent appropriations from prior years: $236 million (mostly attributable to HQ1 Renewal; remaining $183 million in authorized budget to be expensed over coming years).
- Facilities spending: $18 million (primarily for audio visual systems in HQ1 finished spaces); Innovation Lab construction completed in FY 17.
- IT capital investments totaled nearly $28 million in FY 17.
- HQ renewal project spent $76 million in FY 17, bringing total expenditures to 68 percent of the total project budget.
  - All public spaces, cafeteria, and third and fourth floors completed and reoccupied.
  - Construction underway on fifth to seventh floors; schedule and budget closely monitored.

Table 6 (Capital Expenditures, FY 17 — aggregated, Millions of U.S. dollars)
- FY 17 Budget Appropriations: Facilities 32.5; IT 28.0; HQ1 Renewal 0.0; Total 60.5.
- + Unspent FY 15 and FY 16 Funding: Facilities 29.4; IT 14.7; HQ1 Renewal 259.2; Total 303.4.
- = Total funds available in FY 17 1/: Facilities 62.0; IT 42.7; HQ1 Renewal 259.2; Total 363.9.
- Expenditures FY 17: Facilities 17.9; IT 27.9; HQ1 Renewal 76.3; Total 122.1.
- Note: 1/ Approved capital funding is available for three consecutive years, except for HQ1 Renewal which is available until April 2025.

### Results measurement, RBM, and CD strategy review (scheduled 2018)
- Results-Based Management (RBM) framework adopted Fund-wide, based on agreed catalog of expected CD outcomes.
- New common evaluation framework adopted in 2016 for focused and comparable evaluations.
- Log frames established for all new externally financed projects commencing since May 2016.
- As of end-FY 17, CD Departments monitoring over 1,200 log frames in CD-PORT.
- Departments phasing in RBM for Fund-financed projects during FY 18.
- A review of the CD strategy is scheduled for 2018 to consider prioritization, funding, monitoring and evaluation, delivery, integration of CD with surveillance and policy advice, improving CD targeting, sharing Fund CD knowledge, and entrenching the results-based approach.
  - Reference: 2018 Quinquennial Review of the Fund’s Capacity Development Strategy—Concept Note, March 2017.

*Prepared by the Office of Budget and Planning — Executive Summary, July 28, 2017.*

### EXECUTIVE SUMMARY

### FY2017—OUTPUT COST ESTIMATES AND BUDGET OUTTURN — EXECUTIVE SUMMARY

### FY2017 Highlights
- Net administrative spending against a budget of $1.072 billion: $1.066 billion (99.4 percent utilization).
- Year-on-year real increase in net expenditures: 0.8 percent.
- Increase in number of programs: 27 percent.
- Country work (excluding regional technical and training centers (RTACs)) represents 49 percent of total direct spending.
- Externally financed activities (receipts): $2 million.
- Carry forward available for FY 18 to meet transitional needs; $30 million for staff and remainder for OED and IEO.
- Capital spending: $44 million.
  - $153 million noted elsewhere in highlights (context: carry forward available for FY 18 to meet transitional needs; $30 million for staff and remainder for OED and IEO).
  - Capital spending allocation: 62 percent for HQ1 Renewal, 23 percent for information technology projects and the remainder for facilities work.
- Externally financed outturn / receipts figures and capital spending figures reported in tables and boxes in the document.

### Overview — Key Findings
- Operating within a flat real budget envelope, the Fund delivered on the Global Policy Agenda (GPA) priorities.
- Small shift away from country and regional work toward policy work.
- Within country work, spending shifted from lending activities toward bilateral surveillance and capacity development (CD).
- Active use of carry-forward resources allowed some departments (mainly support) to exceed structural budgets.
- Aggregate execution rate close to 100 percent against the approved structural budget.

### Spending by Output — Major Trends
- Country work declined slightly as a share of the Fund’s direct outputs, led by a drop in lending-related expenditure in FY 17.
  - Fund-financed country work (surveillance, lending and CD) saw an unexpected drop relative to budget plans.
  - Overall decline in country work: 0.6 percentage points.
- Expenditures related to oversight of global systems and multilateral surveillance were broadly unchanged and in line with budget.
- Support and governance expenditures were higher than budgeted due to increased spending on security, language and corporate services, IT support, and slower-than-expected IT savings.
- FSAP program increased the share of bilateral surveillance in total direct spending; overall spending on bilateral surveillance increased by 0.5 percentage points.
- Despite a 27 percent increase in number of programs, the share of spending on lending activities fell by 1.4 percentage points.
  - Reasons: decline in cost of some expensive program cases (GRA and PRGT) and transitions from programs to non-financial instruments (e.g., post-program monitoring, staff-monitored program).
- Fund-financed CD activity broadly unchanged from FY 16; externally financed CD activity increased, primarily for TA on public financial management and revenue administration to African countries and opening of SARTTAC.
- Analytical and policy work increased on international financial architecture and vulnerabilities/cross-cutting analysis; regional analysis declined.
- Share of multilateral surveillance, policy and other analytical work declined by 0.2 percentage points.

### Country Spending — Alignment with Risk and Vulnerability
- Average country spending remains broadly aligned with risk assessments and comparable with FY 16.
- Small reduction in support to intensive surveillance countries; greater support to program countries.
- Spending highest for countries with programs or identified as vulnerable; vulnerable program countries receive the most resources on average.
- Across regions, average spending per country highest in African countries, reflecting high share of program countries.
- Spending on vulnerable countries higher than other categories across virtually all regions.
- Historical shift (FY 12 to FY 17): total spending by output moved from lending and multilateral surveillance toward bilateral surveillance and capacity development.
  - Share of multilateral surveillance and oversight of global systems fell by 2.6 percentage points between FY 12 and FY 17, now representing 30 percent of total spending.
  - Country work represents close to two-thirds of total spending (including RTACs).
  - Share of lending has fallen by 4 percentage points since FY 12.
  - Share of bilateral surveillance increased by 2.8 percentage points.
  - Share of CD increased by 4.0 percentage points.

### Spending by Input — Overview and Key Numbers
- Net expenditures increased 0.8 percent in real terms relative to FY 16 against a broadly flat budget.
- Execution against the approved (structural) budget was close to 100 percent.
  - Contributing factors: continued low vacancy rates, greater upfront allocation of carry-forward resources from FY 16, higher usage of central HR programs, supplemental contributions to the Retired Staff Benefit Investment Account (RSBIA).
- Higher spending on facilities, IT and contractual services; shortfall in receipts partially offset by underspending in travel and contingency.
- Overspending in building and other expenses reflects use of carry forward.

Table highlights (from Administrative Budget, FY 16–17; figures in Millions of U.S. dollars)
- Total Gross Expenditures FY 16 Budget: 1,247; Outturn: 1,215; Utilization: 97.4 percent.
- Total Gross Expenditures FY 17 Budget: 1,273; Outturn: 1,255; Utilization: 98.6 percent.
- Total Net Expenditures FY 16 Budget: 1,052; Outturn: 1,038; Utilization: 98.7 percent.
- Total Net Expenditures FY 17 Budget: 1,072; Outturn: 1,066; Utilization: 99.4 percent.
- Fund-financed Personnel FY 16 Budget: 804; Outturn: 803; Utilization: 99.8 percent.
- Fund-financed Personnel FY 17 Budget: 825; Outturn: 825; Utilization: 99.9 percent.
- Fund-financed Travel FY 16 Budget: 89; Outturn: 81; Utilization: 90.3 percent.
- Fund-financed Travel FY 17 Budget: 83; Outturn: 75; Utilization: 90.4 percent.
- Fund-financed Building and other expenses FY 16 Budget: 187; Outturn: 191; Utilization: 102.2 percent.
- Fund-financed Building and other expenses FY 17 Budget: 193; Outturn: 205; Utilization: 105.9 percent.
- Contingency FY 16 and FY 17: budget and outturn both 100 and 110 respectively (100.0 and 110.0 utilization shown).
- Receipts FY 16 Budget: -39; Outturn: -34; Utilization: 87.8 percent.
- Receipts FY 17 Budget: -40; Outturn: -35; Utilization: 88.0 percent.
- Net expenditures (Fund-financed) FY 16 Budget: 1,052; Outturn: 1,040; Utilization: 98.9 percent.
- Net expenditures (Fund-financed) FY 17 Budget: 1,072; Outturn: 1,070; Utilization: 99.7 percent.
- Externally-financed gross expenditures FY 16 Budget: 157; Outturn: 140; Utilization: 89.3 percent.
- Externally-financed gross expenditures FY 17 Budget: 160; Outturn: 150; Utilization: 93.6 percent.
- Memorandum: Carry forward from previous year FY 16: 42; FY 17: 43.
- Total net available resources and spending FY 16 Budget: 1,094; Outturn: 1,038; Utilization: 94.9 percent.
- Total net available resources and spending FY 17 Budget: 1,116; Outturn: 1,066; Utilization: 95.5 percent.

### Inputs and Cost Drivers
- Labor share is the key cost driver for all outputs.
- Travel costs:
  - Lowest in multilateral surveillance.
  - Highest in capacity development (reflecting larger number of missions).
  - Travel costs declined across output categories relative to FY 16 (departments benefited from favorable air travel prices).
- Support costs:
  - Roughly even across activities.
  - Increased relative to FY 16, reflecting higher security costs and demand for corporate services and IT.
- CD governance costs are very low, reflecting less direct Executive Board involvement in CD activities.

### Capital and Other Notable Items (summary from figures)
- Capital spending for FY 17 reported at $44 million in highlights; capital expenditures and IT capital spending are detailed in the document’s figures and tables.
- Security-related spending noted (Box 1 referenced in document).
- Figures and tables referenced include detailed breakdowns of shifts in outputs, average spending per country, regional spending patterns, input-cost mappings, vacancy rates, overtime, travel metrics, receipts, and capital expenditures.

*Prepared by the Office of Budget and Planning — Executive Summary, July 28, 2017.*

### 13.      Execution against total available resources (structural plus carry-forward funds) was lower

### pp080717-fy2017-output-cost-estimates-and-budget-outturn-paper - 13.      Execution against total available resources (structural plus carry-forward funds) was lower

### Execution and carry-forward summary
- Execution against total available resources (structural plus carry-forward funds) was lower at 96 percent.
- $43 million in eligible unspent resources was carried over from FY 16 and available for FY 17 spending.
- Of the $29 million available to staff departments:
  - $18 million was made available early in the year to facilitate transitional or temporary aspects of departmental work programs.
  - An additional $6 million was distributed throughout the year.
- Carry forward undistributed: 6 (Millions of U.S. dollars) [as presented in the figure text].
- Carry Forward distributed: 23 (Millions of U.S. dollars) [as presented in the figure text].
- Carry Forward - OED,IEO: 14 (Millions of U.S. dollars) [as presented in the figure text].
- Contingency - Staff: 8 (Millions of U.S. dollars) [as presented in the figure text].
- Contingency - OED,IEO: 3 (Millions of U.S. dollars) [as presented in the figure text].

### Departmental spending drivers and underspending
- Support and Functional non-TA departments utilized all resources available to them (structural budget plus carry forward).
- Several departments utilized only a portion of their total available resources, contributing to overall underspending.
- Use of carry forward by some departments to meet needs beyond their structural budgets was offset by underspending elsewhere, leaving the stock of carry forward available for FY 18 unchanged.
- Departments with additional FY 17 allocations or higher spending:
  - Information Technology Department (ITD): additional resources for HQ1 renewal office moves, project management consulting services, and IT support services.
  - Corporate Services and Facilities Department (CSF): continued high demand for translation and multimedia services and security-related activities.
  - Strategy Policy and Review Department (SPR): additional resources to support the G20 Presidency, mainstream macro-financial and structural work, and work on long-term uncertainties.
  - Monetary and Capital Markets Department (MCM): higher spending for systemic FSAP work and costs associated with macro-financial surveillance.
  - Human Resources Department (HRD): unexpected costs for HR system fixes and a replacement effort for HR strategy work.
- Departments with underutilization:
  - European Department (EUR): larger reductions in program work than anticipated, resulting in fewer missions and larger than planned personnel vacancies.
  - African Department (AFR): delays in onboarding and filling vacancies and the impact of the strong dollar on overseas expenditures resulted in lower spending.

### Spending on personnel, staffing, and overtime
- The Fund-financed personnel budget was almost fully utilized.
- Overall staffing levels increased by 1 1/2 percent.
- Contractual employment remained at comparable levels to FY 16.
- Externally funded regular staffing levels increased by 11 percent.
- Fund-financed staffing increased by 1.6 percent, largely attributable to CoE reform which created 53 new staff positions in FY 17 for work previously undertaken by contractual employees.
- The overall vacancy rate was about 1.4 percent; vacancy rates ranged from a high of 2.0 percent in area departments to a low of 0.4 percent in support departments.
- Table 2 (FTE Utilization, FY 15–17) highlights:
  - Fund-financed regular staff: Budget 2,727; Outturn 2,767 (FY 17 Budget/Outturn context preserved in table headings).
  - Expert and contractual staff and externally-financed staff figures as presented in Table 2.
- The average salary paid increase is in line with budget; staff turnover lowered the average salary midpoint allowing resources for the following year’s merit increase.
- The average overtime rate declined to 10.8 percent compared with 11.5 percent at the end of FY 16, approaching the target rate of 10 percent.
  - All departments except three reduced overtime rates during the year.
  - Overtime rates remained high in a number of departments, especially at senior management levels.

### Travel metrics and spending
- Despite an increase in the number of missions during FY 17, travel spending fell year-on-year.
- Fund-financed travel spending decreased compared to FY 16 (even after adjusting for the Annual Meetings in Lima in FY 16); externally financed travel spending was broadly unchanged.
- Both the number of missions and number of mission nights saw increases.
- Area departments: further decline in missions to EUR, offset by increased delivery by Functional TA departments, primarily in the AFR region.
- Transportation cost per mile fell by around three percent in FY 17 due to favorable airline pricing.
- Figure and table excerpts preserving numbers:
  - Estimated travel expenditures (FY 17 Outturn): Total 189 (Millions of U.S. dollars); Fund-financed 115; Business travel (Fund-financed) 75; Seminars 5; Other travel 11; Externally-financed 39; Business travel (Externally-financed) 29; Seminars and other travel 10.
  - Note: Includes an estimated $3.8m of costs related to travel to the Annual Meetings in Lima.

### Building, services, and security-related spending
- Spending on building and other services exceeded budgeted levels.
  - Total buildings and other expenses: FY 17 Budget 205; Outturn 218 (Millions of U.S. dollars).
  - Fund-financed component: FY 17 Budget 193; Outturn 205.
  - Building occupancy: FY 17 Budget 56; Outturn 61.
  - Information technology: FY 17 Budget 61; Outturn 64.
  - Contractual services: FY 17 Budget 38; Outturn 39.
  - Subscriptions and printing: FY 17 Budget 19; Outturn 21.
- Carry forward resources were provided to cover increased costs related to security, continued high demand for language services, higher contractual services, the Spring and Annual Meetings, and delays in implementing certain IT savings initiatives.

Box 1 — Security-Related Spending (key figures and drivers)
- The Board-approved increase of $6 million to cover security needs was fully utilized.
- Security-related spending increased to $35.6 million in FY 17, $0.9 million higher than assumed in the budget.
- Field security, HQ security, IT security, and capital expenditures for security described with qualitative drivers:
  - Field security: decreased due to delay in purchases of armored vehicles, partially offset by additional country security assessments, hiring of additional security protection consultants, higher UN fees and intelligence report subscriptions, evacuations, training, and cost of rest and recuperation for staff in HRLs.
  - HQ security: rose due to contractual cost increases and need for increased protection of physical assets, staff, and Annual and Spring Meetings participants.
  - IT security: increase related to investments to reduce exposure to cyber threats, acquiring skilled cyber technical resources and services; spending pressure expected to continue due to surge in costs of cyber personnel and third-party services.
  - Capital expenditures for security are largely related to IT projects; an appropriation for HQ facilities improvements in FY 17 is expected to be spent in FY 18 and FY 19 after feasibility studies.

- Security spending by category (FY 15–17, Millions of FY 17 dollars as presented):
  - Administrative expenses: FY 15 29.2; FY 16 33.1; FY 17 35.6.
  - Field security: FY 15 8.0; FY 16 10.2; FY 17 9.7.
  - HQ security: FY 15 14.0; FY 16 14.3; FY 17 15.7.
  - Business continuity: FY 15 0.6; FY 16 0.7; FY 17 0.9.
  - IT security: FY 15 6.6; FY 16 7.9; FY 17 9.3.
  - In percent of administrative budget: FY 15 2.3; FY 16 2.6; FY 17 2.9.
  - Capital expenses: FY 15 7.2; FY 16 4.3; FY 17 4.2.

### Receipts and externally financed capacity development (CD)
- Receipts grew considerably although by less than expected.
  - Total receipts: FY 17 Outturn 189 (Millions of U.S. dollars) [table context].
  - Externally-financed capacity development (direct cost only): FY 17 Outturn 153.
  - General receipts: FY 17 Outturn 35.
  - Administrative and trust fund management fees: FY 17 Outturn 11.
- Growth driven by reimbursements from externally funded CD due to increased project activity year-on-year.
- Shortfall compared to budget related to implementation delays and some security concerns.
- General receipts were in line with FY 16 but lower than budget, partly due to lower reimbursements under cost-sharing agreements with the World Bank.

Externally financed outturn and CD delivery
- Spending on externally financed CD activities increased by 5 percent in real terms in FY 17, due in part to the opening of the new CD center in India (SARTTAC).
- Small shortfall compared to planned levels attributed to implementation delays and security concerns.
- Externally financed personnel spending grew 3 percent in real terms in FY 17; Fund-financed personnel spending increased 0.4 percent.
- The number of regular staff FTE covered by external financing increased by 11 percent to 77 percent due in part to CoE reform.
- Utilization of experts and other contractual staff increased by less than one percent.
- Externally financed travel spending grew slightly in FY 17; volume of externally financed missions increased by 3 percent.

### Capital investment and HQ1 Renewal
- Spending on capital investments totaled $122 million in FY 17 out of the $364 million available in appropriations.
- Unspent appropriations from prior years of $236 million are mostly attributable to the HQ1 Renewal program (remaining $183 million in authorized budget to be expensed over the coming years).
- Facilities spending of $18 million primarily for audio visual systems in HQ1 finished spaces; Innovation Lab construction completed in FY 17.
- IT capital investments totaled nearly $28 million in FY 17:
  - Less than projected earlier in the year but higher than FY 16.
  - Several large projects halted or delayed due to change in strategy and shifting priorities.
  - Investment in data management, IT security, remediation of vulnerabilities, knowledge management systems, and communications upgrades noted.
- HQ renewal project spent $76 million in FY 17, bringing total expenditures to 68 percent of the total project budget.
  - All public spaces, cafeteria, and third and fourth floors completed and reoccupied.
  - Construction underway on fifth to seventh floors; activities closely monitored for schedule and budget impact.
- Table 6 (Capital Expenditures, FY 17) key aggregation:
  - FY 17 Budget Appropriations: Facilities 32.5; IT 28.0; HQ1 Renewal 0.0; Total 60.5.
  - + Unspent FY 15 and FY 16 Funding: Facilities 29.4; IT 14.7; HQ1 Renewal 259.2; Total 303.4.
  - = Total funds available in FY 17 1/: Facilities 62.0; IT 42.7; HQ1 Renewal 259.2; Total 363.9.
  - Expenditures FY 17: Facilities 17.9; IT 27.9; HQ1 Renewal 76.3; Total 122.1.
  - Note: 1/ Approved capital funding is available for three consecutive years, except for HQ1 Renewal which is available until April 2025.

### Capacity Development (Annex I) — high-level points
- CD remains the Fund’s largest single output since FY 12, rising from about 24 percent of total spending in FY 12 to about 28 percent in FY 17.
- Both Fund- and donor-financed CD have grown; increase in CD spending continues to be driven by scaling up in donor-financed TA over the past five years.
- TA delivery accounts for about 84 percent of total spending on CD in FY 17.

*FY2017—OUTPUT COST ESTIMATES AND BUDGET OUTTURN, INTERNATIONAL MONETARY FUND*

### 3.      The execution of externally-

### 3.      The execution of externally-financed CD activities improved further in FY 17

### Execution and Budget Outturn
- Gap between budgeted and delivered activities was $7 million, or 4 percent of the budget, in FY 17.
- Small remaining discrepancy attributed to:
  - ongoing political instability and security risks in some countries;
  - delays in filling long-term advisor positions to be based in the field;
  - delays in donor approvals and disbursements causing later-than-anticipated project launches.
- Table 1 (Externally-Financed Budget vs. Outturn, FY 13–17, Millions of U.S. Dollars):
  - FY 13 Outturn: 117; Budget: 127; Difference: 10
  - FY 14 Outturn: 124; Budget: 138; Difference: 14
  - FY 15 Outturn: 131; Budget: 154; Difference: 23
  - FY 16 Outturn: 142; Budget: 157; Difference: 15
  - FY 17 Outturn: 153; Budget: 160; Difference: 7
- Notes: Outturn and budget exclude administrative fee of 13 percent under the old financing instrument and a trust fund management fee of 7 percent under the new financing instrument. Also excluded are the Regional Training Center (RTC) expenses not reflected in IMF accounts.

*Source: Institute for Capacity Development (ICD).*

### Sources of External Funding
- Over the last five years, the top 15 partners contributed $646 million, or 84 percent of total external funding.
- Five partners contributed more than $40 million during this period: Japan, the European Union, the United Kingdom, Switzerland, and Canada.
- Characteristics of contributions:
  - Contributions made to multi-donor vehicles (ten RTACs, four RTCs, eleven TTFs) or bilateral programs/projects; hosts manage three regional training programs (RTPs) with Fund staff providing training.
  - Over the last five years, the top 10 partners provided more than half of their contributions to multi-partner vehicles.
  - Contributions to multi-partner vehicles tend to be relatively concentrated, but donor-base expansion reduced the share of the top three partners to 42 and 47 percent of all funding to RTACs and thematic funds, respectively.
  - Recipient members’ contributions rose to 34 percent, from 18 percent in FY 16.
- Table 3 (Capacity Development Vehicles: Top 10 Partner Contributions, FY 13–17):
  - Multidonor: Contribution 375 (Millions of U.S. dollars); Share 56 (Percent of Total)
  - Topical Trust Funds (TTFs): Contribution 86; Share 13
  - Regional Training Centers (RTCs): Contribution 103; Share 15
  - Bilateral: Contribution 291; Share 44
  - Total: Contribution 666; Share 100
- Table 2 (Regional Technical Assistance Centers (RTACs) — Donor contributions, Funds received during FY13–17):
  - Japan: Contribution 154; Share 20
  - European Union: Contribution 121; Share 16
  - United Kingdom: Contribution 65; Share 8
  - Switzerland: Contribution 63; Share 8
  - Canada: Contribution 43; Share 6
  - Kuwait: Contribution 39; Share 5
  - Austria: Contribution 29; Share 4
  - Netherlands: Contribution 29; Share 4
  - Mauritius: Contribution 20; Share 3
  - Norway: Contribution 15; Share 2
  - Korea: Contribution 15; Share 2
  - Singapore: Contribution 15; Share 2
  - India: Contribution 15; Share 2
  - Germany: Contribution 12; Share 2
  - Luxembourg: Contribution 11; Share 1
  - Other donors and international institutions: Contribution 120; Share 16
  - Total: 766; Share 100

*Source: Capacity Development Information Management System (CDIMS).*

### CD Volume and Distribution; Prioritization
- CD composition driven by member demand and Fund CD priorities, guided by strengthened governance since the Executive Board’s June 2013 review and the 2014 CD Policy Statement.
- FY 17 CD priorities included:
  - continued scaling up of support to fragile states;
  - increased assistance on domestic revenue mobilization and sound public financial management (PFM);
  - financial market deepening for Low-Income Developing Countries (LIDCs);
  - closing data gaps.
- Planning and prioritization occur at institutional level and are informed by the Global Policy Agenda, Executive Board initiatives (e.g., Financing for Development and the Sustainable Development Goals), and departments’ Regional Strategy Notes. Key priorities are updated each year as necessary.

### Technical Assistance (TA)
- Total TA measured in field delivery was 300 FTEs in FY 17, a slight decline from FY 16.
- Regional TA delivery drivers:
  - Growth in TA delivery to MCD, AFR, and EUR largely offset by declines in APD and WHD.
- By income group (Person-years of field delivery):
  - Advanced economies: FY 17 = 17
  - Emerging market and middle-income economies: FY 17 = 125
  - Low-income developing countries: FY 17 = 151
  - Multiple regions: FY 17 = 87
- By program status:
  - Program countries: FY 17 = 110
  - Non-Program: FY 17 = 184
  - Number of countries: FY 17 = 44
- Total TA by topic, staff type, and funding source (Person-years of field delivery, FY 13–17):
  - Topic (FY 17):
    - Fiscal: 158
    - Monetary and financial sector: 72
    - Statistical: 35
    - Legal: 12
    - Other: 23
  - Staff type (FY 17):
    - Long-term resident experts: 118
    - Short-term experts: 97
    - HQ-based staff: 85
  - Funding source (FY 17):
    - Fund-financed: 51
    - Externally-financed: 250
    - Total: 300
- Externally financed TA accounted for about 83 percent of TA field delivery in FY 17; donor-financed to total TA delivery has been relatively stable since FY 13 at just over 80 percent.
- TA delivery trends and priorities:
  - LIDCs received the largest gains in TA delivery in FY 17, while delivery to advanced economies continued to fall.
  - Delivery of TA to program countries grew by about 20 percent in FY 17 to one-third of the total, as the number of Fund-supported programs increased.
  - Fiscal TA continued to grow in FY 17, driven by scaling up of externally-funded TA.
  - Fiscal and monetary and financial sector TA together account for over three-quarters of the Fund’s TA.
  - Monetary and financial sector TA fell by about 8 percent in FY 17 compared to FY 16, reflecting delays in mobilizing resident advisors.
  - Statistical TA decreased in FY 17 to more sustainable levels after increases through FY 15.
  - TA delivery by short-term experts increased slightly to about a third of Fund TA; long-term experts continued to account for the largest share.
  - Increases in TA delivery achieved CD priorities for FY 17:
    - TA delivery increased by about 7 percent to fragile states.
    - TA delivery increased by about 7 percent in domestic revenue mobilization.
    - TA delivery increased by about 4 percent in PFM.
    - TA delivery in financial market deepening for low-income countries grew from a very small base.
    - Slight decreases in TA to close data gaps and in financial supervision and regulation as overall TA delivery by STA and MCM declined.

*Sources: Monitoring of Fund Arrangements (MONA) database; Travel Information Management System (TIMS); ACES (for spending context).*

### Training (ICD Training Program)
- Total training volume increased modestly in FY 17 to about 15,300 participant weeks (Table 8 shows Total FY 17 = 15,339).
- Training delivery by department (participant-weeks, FY 17):
  - FAD: 353
  - ICD: 12,686
  - LEG: 368
  - MCM: 355
  - STA: 1,487
  - Other: 91
- Training by region (participant-weeks, FY 17):
  - AFR: 3,451
  - APD: 3,009
  - EUR: 2,674
  - MCD: 4,146
  - WHD: 2,059
  - Total: 15,339
- Training by income group (participant-weeks, FY 17):
  - Advanced economies: 896
  - Emerging market and middle-income economies: 8,810
  - Low-income developing countries: 5,392
  - Other: 242
  - Total: 15,339
- Online learning:
  - Started in FY 14 and grew to account for almost 40 percent of training in FY 17.
  - Number of online courses offered increased to nineteen in FY 17 from thirteen in FY 16.
  - Participation in online learning remained broadly stable in FY 17.
  - Online learning increased strongly in the MCD region, reflecting introduction of a course in Arabic.
  - ICD online course volume calculated using conversion factors to estimate equivalent full training days.
- Course categories and volumes (participant-weeks, FY 17):
  - Financial Sector Policies: 2,552
  - Fiscal Policy: 1,919
  - Specialized Fiscal Issues (FAD): 419
  - General Macroeconomic Analysis: 6,240
  - Macroeconomic Statistics (STA): 1,487
  - Legal courses including AML-CFT (LEG): 368
  - Monetary and Financial Sector (MCM): 355
  - Monetary, Exchange Rate, and Capital Account Policies: 715
  - Safeguards Assessments (FIN): 58
  - Special Topics: 1,152
  - Other Courses: 74
  - Total: 15,339
- Training to CD priority groups (participant-weeks, FY 13–17, Table 11):
  - Fragile states: FY 17 = 2,488 (up about 17 percent in FY 17)
  - LIDCs: FY 17 = 5,392 (up about 5 percent in FY 17)
  - Program countries: FY 17 = 4,842 (grew strongly by about 30 percent in FY 17)

*Source: Participant and Applicant Tracking System (PATS). FY 17 data are preliminary.*

### Progress Toward Improved Measurement of Results and 2018 Review of CD Strategy
- Results-Based Management (RBM) framework adopted Fund-wide, based on an agreed catalog of expected CD outcomes.
- A new common evaluation framework was adopted in 2016 to make future evaluations more focused and comparable and to allow evaluation information to be used more effectively to alter practices or shift CD resource targeting.
- RBM application and log frames:
  - Log frames established for all new externally financed projects commencing since May 2016.
  - As of end-FY 17, CD Departments are monitoring over 1,200 log frames in the Capacity Development Project Outcomes and Results Tracking (CD-PORT) system.
  - Most log frames are for donor-financed projects; departments are phasing in RBM for Fund-financed projects during FY 18.
  - Results on individual projects entered last year are being tracked initially at the milestone level, with plans to track higher level outcomes and indicators over time.

*Source: Capacity Development Project Outcomes and Results Tracking (CD-PORT) and internal RBM adoption documents.*

### 16.      A review of the CD strategy is scheduled for 2018. The review will consider how the

### pp080717-fy2017-output-cost-estimates-and-budget-outturn-paper - 16.      A review of the CD strategy is scheduled for 2018. The review will consider how the

### Capacity Development (CD) strategy review (scheduled for 2018)
- Purpose of the review:
  - Consider how the prioritization, funding, monitoring and evaluation, and delivery of CD has evolved since the 2014 Policy Statement.
  - Provide an opportunity to outline reforms to increase the impact of CD.
- Focus areas for the 2018 review:
  - Further integrating CD with surveillance and policy advice.
  - Strengthening the framework to improve CD targeting to priority country needs by seeking innovative ways to deliver CD.
  - Sharing Fund CD knowledge with the membership.
  - Entrenching the results-based approach.
- Reference note:
  - See 2018 Quinquennial Review of the Fund’s Capacity Development Strategy—Concept Note, March 2017.

### Fiscal and output spending (Annex II — Table 1 and memorandum items)
- Total output estimates (Millions of FY 17 U.S. dollars; percent of total shown in table):
  - FY 12: 1,149
  - FY 13: 1,168
  - FY 14: 1,204
  - FY 15: 1,214
  - FY 16: 1,224
  - FY 17: 1,272 (Budget Estimate)
  - FY 17 Outturn: 1,235
  - Percent of total: 100.0 (for each year column as presented)
- Selected output-level estimates (Millions of FY 17 U.S. dollars; percent of total as shown):
  - Multilateral surveillance: 253 (FY12) … 242 (FY17 Outturn); percent examples: 22.0 (FY12), 19.6 (FY17 Outturn)
  - Global economic analysis: 116 (FY12) … 120 (FY17 Outturn); percent examples: 10.1 (FY12), 9.7 (FY17 Outturn)
  - Oversight of global systems: 122 (FY12) … 128 (FY17 Outturn); percent examples: 10.6 (FY12), 10.4 (FY17 Outturn)
  - Bilateral surveillance: 254 (FY12) … 308 (FY17 Outturn); percent examples: 22.1 (FY12), 25.0 (FY17 Outturn)
  - Lending (incl. non-financial instruments): 202 (FY12) … 166 (FY17 Outturn); percent examples: 17.6 (FY12), 13.4 (FY17 Outturn)
  - Capacity development (CD): 274 (FY12) … 345 (FY17 Outturn); percent examples: 23.9 (FY12), 27.9 (FY17 Outturn)
  - Technical assistance: 214 (FY12) … 288 (FY17 Outturn); percent examples: 18.6 (FY12), 23.3 (FY17 Outturn)
  - Training: 60 (FY12) … 75 (FY17 Outturn); percent examples: 5.3 (FY12), 4.6 (FY17 Outturn)
- Memorandum items — Gross administrative expenditures:
  - (in current U.S. dollars) 1,082 (FY12), 1,102 (FY13), 1,149 (FY14), 1,177 (FY15), 1,215 (FY16), 1,272 (FY17 Budget), 1,255 (FY17 Outturn)
  - (in FY 17 U.S. dollars) 1,171 (FY12), 1,186 (FY13), 1,217 (FY14), 1,222 (FY15), 1,238 (FY16), 1,272 (FY17 Budget), 1,255 (FY17 Outturn)

### Administrative budgets and outturns, FY 02–17 (Table 2 — selected figures)
- Net Budget / Outturn (Millions of U.S. dollars; Budget, Outturn, Variance shown in table):
  - FY 2002: Budget 695; Outturn 677; Variance -19 (-2.7 percent)
  - FY 2009: Budget 868; Outturn 813; Variance -55 (-6.3 percent)
  - FY 2014: Budget 1,007; Outturn 988; Variance -19 (-1.8 percent)
  - FY 2017: Budget 1,072; Outturn 1,066; Variance -6 (-0.6 percent)
- Gross Budget / Outturn (Millions of U.S. dollars; Budget, Outturn, Variance shown in table):
  - FY 2002: Budget 737; Outturn 721; Variance -16 (-2.1 percent)
  - FY 2009: Budget 967; Outturn 885; Variance -82 (-8.5 percent)
  - FY 2014: Budget 1,186; Outturn 1,149; Variance -37 (-3.2 percent)
  - FY 2017: Budget 1,273; Outturn 1,255; Variance -18 (-1.4 percent)
- Notes captured in the table:
  - FY figures exclude specified carry forward funds for FY 11–16 as listed.
  - Includes one-off supplementary contributions to the Retired Staff Benefit Investment Account (RSBIA) in specified years and amounts.
  - Includes contributions to the SRP service credit buy back program in specified years and amounts.

### Total Fund employment, FY 15–17 (Table 3)
- Total Fund employment:
  - FY 15: 3,661
  - FY 16: 3,704
  - FY 17: 3,762
- Regular, fixed term, limited term staff 1/:
  - FY 15: 2,784
  - FY 16: 2,835
  - FY 17: 2,890
  - Of which:
    - Independent Evaluation Office (IEO): 15 (FY15), 14 (FY16), 14 (FY17)
    - Office of Executive Directors (OED): 246 (FY15), 244 (FY16), 250 (FY17)
- Expert and contractual staff 2/:
  - FY 15: 877
  - FY 16: 869
  - FY 17: 872
- Notes:
  - 1/ Includes Fund-financed and externally-financed FTEs.
  - 2/ Fund-financed and donor-financed experts (including short term experts), contractual staff, visiting scholars, secretarial support staff, paid overtime, and other.

### Departmental business and seminar travel expenditures, FY 15–17 (Table 4)
- By type of cost (Millions of U.S. dollars):
  - Total: 102 (FY15), 108 (FY16), 103 (FY17)
  - Transportation: 60 (FY15), 62 (FY16), 60 (FY17)
  - Per diem: 42 (FY15), 45 (FY16), 43 (FY17)
- By type of financing:
  - Fund-financed: 68 (FY15), 70 (FY16), 64 (FY17)
  - Externally-financed: 34 (FY15), 38 (FY16), 39 (FY17)
- By department (selected):
  - Area: 29 (FY15), 29 (FY16), 28 (FY17)
  - TA functional: 54 (FY15), 56 (FY16), 59 (FY17)
  - OED and IEO: 5 (FY15), 7 (FY16), 5 (FY17)
- Memorandum item:
  - In percent of total gross expenditures: 8.6 (FY15), 8.9 (FY16), 8.2 (FY17)
- Note:
  - FY 16 includes Annual Meetings travel of approximately $3.8 million.

### Travel metrics, FY 15–17 (Table 5)
- Number of missions:
  - FY 15: 7,776
  - FY 16: 8,005
  - FY 17: 8,170
- Mission nights:
  - FY 15: 88,094
  - FY 16: 92,979
  - FY 17: 93,668
- Mission persons:
  - FY 15: 12,326
  - FY 16: 13,114
  - FY 17: 13,153
- Breakdowns by mission type (Number of missions; Mission nights; Mission persons shown in table):
  - Area missions: 1,313 (FY15), 1,405 (FY16), 1,370 (FY17); mission nights 24,933 (FY15), 25,931 (FY16), 24,722 (FY17); mission persons 3,497 (FY15), 3,827 (FY16), 3,557 (FY17)
  - TA Functional missions: 4,738 (FY15), 4,790 (FY16), 4,960 (FY17); mission nights 54,854 (FY15), 57,413 (FY16), 60,939 (FY17); mission persons 6,661 (FY15), 6,987 (FY16), 7,252 (FY17)
  - Functional missions: 914 (FY15), 984 (FY16), 1,001 (FY17); mission nights 4,941 (FY15), 6,067 (FY16), 4,560 (FY17); mission persons 1,127 (FY15), 1,207 (FY16), 1,203 (FY17)
- Note:
  - Excludes Annual Meetings, IEO, OED.

### Capital expenditures, FY 12–17 (Table 6 — selected totals and key line items)
- Summary totals (Millions of U.S. dollars):
  - FY 12:
    - Total funds available: 202.1
    - Expenditures: 44.4
    - Remaining funds: 154.6
  - FY 13:
    - Total funds available: 543.3
    - Expenditures: 88.8
    - Remaining funds: 452.6
  - FY 14:
    - Total funds available: 493.8
    - Expenditures: 143.8
    - Remaining funds: 345.7
  - FY 15:
    - Total funds available: 397.4
    - Expenditures: 135.8
    - Remaining funds: 260.4
  - FY 16:
    - Total funds available: 434.5
    - Expenditures: 130.5
    - Remaining funds: 303.4
  - FY 17:
    - Total funds available: 363.9
    - Expenditures: 122.1
    - Remaining funds: 236.2
- Line item examples (FY 12 through FY 17 where presented):
  - Information Technology: New appropriations and expenditures shown across years (examples: New appropriations FY12 5.1; Expenditures FY12 9.3; Remaining funds FY12 13.7).
  - HQ1 Renewal/Renovation and Concordia project amounts tracked separately with specific notes on lapsed, reappropriated, and additional appropriations.
- Notes:
  - 1/ Figures reflect funds that were not spent within the three-year appropriation period; e.g., FY 15 appropriated funds lapsed at the end of FY 17.
  - 2/ Figures reflect the unspent amount of the budget appropriation in the period concerned. Those funds can be used for authorized projects in the remaining period(s).
  - Additional appropriations were approved for the HQ1 Renewal Program during FY 16.
  - Unspent Concordia funds appropriated in FY 12 expired at the end of FY 14 with the exception of $0.6 million specifically reappropriated for FY 15.

*Source: Office of Budget and Planning, Analytic Costing and Estimation System (ACES); Office of Budget and Planning; Corporate Services and Facilities Department; Information Technology Department.*

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_Source: https://www.imf.org/-/media/files/publications/pp/2017/pp080717-fy2017-output-cost-estimates-and-budget-outturn-paper.pdf_