## ppea2019035 — Executive Summary (FY2019 OUTPUT COST ESTIMATES AND BUDGET OUTTURN)

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### FY2019 highlights
- Spending was 99.7 percent of the $1.135 billion total net administrative budget (Fund- and externally financed).
- $1.131 bn — Total net administrative expenditures.
- 39 — Fund-supported programs (Down from 43 during FY 18).
- Country engagement (surveillance, lending, and capacity development) accounts for about half of total direct spending.
- $2.2mn — Average spending per country.
- $47mn — Carry forward available for FY 20 to meet transitional needs; $31 million for staff departments and the remainder for Offices of Executive Directors (OED) and the Independent Evaluation Office (IEO).
- Up $6 million from last year; 89.3 percent utilization of available budget (externally financed).
- $175 mn — Externally financed spending (gross).
- $141mn — Capital spending.
- Capital spending composition: about 60 percent for HQ1 Renewal, 20 percent for information technology projects, and 20 percent for other building-related projects.
- Composition of spending by outputs (direct shares): Country Work 49%; Policy advice and economic analysis 12%; IMF governance 9%; Internal organization/support 25%; Contributions to global stability 2%; Fund policies 2%.

### Overview and budget utilization
- Total net administrative expenditures (Fund- and externally financed) were $1,131 million, or 99.7 percent of the approved structural budget of $1,135 million.
- Utilization relative to total net available resources (including $31 million carry forward for staff and $15 million for OED and IEO) was 95.8 percent.
- Net Fund-financed budget utilization rate was 99.9 percent; the full staff carry forward of $31 million remains available for FY 20.
- Gross externally financed expenditures were $175 million, about $21 million below the operational target.
- Table 1 (overview reproduced):
  - Total gross expenditures: Budget 1,315; Outturn 1,309; Utilization 99.6 (FY 18) — Budget 1,371; Outturn 1,346; Utilization 98.1 (FY 19).
  - Fund-financed: Budget 1,143; Outturn 1,140; Utilization 99.8 (FY 18) — Budget 1,175; Outturn 1,170; Utilization 99.6 (FY 19).
  - Externally financed: Budget 172; Outturn 169; Utilization 98.2 (FY 18) — Budget 196; Outturn 175; Utilization 89.3 (FY 19).
  - Total net expenditures: Budget 1,104; Outturn 1,099; Utilization 99.5 (FY 18) — Budget 1,135; Outturn 1,131; Utilization 99.7 (FY 19).
  - Of which Fund-financed net: Budget 1,104; Outturn 1,104; Utilization 100.0 (FY 18) — Budget 1,135; Outturn 1,134; Utilization 99.9 (FY 19).
  - Carry forward from previous year: 44 (FY 18) — 46 (FY 19).
  - Total net available resources: 1,148 (FY 18) — 1,181 (FY 19).
  - Utilization against total net available resources: 95.7 percent (FY 18) — 95.8 percent (FY 19).

### Spending by outputs — relative to budget and FY18
- Fund-financed spending broadly aligned with FY 19–21 MTB priorities, except for higher-than-anticipated spending related to Fund policy work ($4 million above initial allocation for major policy reviews: LIC facilities, Conditionality, PRGT, data provision).
- Spending on policy advice and economic analysis somewhat lower-than-planned (notably multilateral surveillance and general research).
- Internal organization/support spending about $2 million lower than budget.
- Relative changes versus FY 18:
  - Country work increased by $13 million overall.
    - Lending-related activities rose by $7 million despite fewer programs.
    - Bilateral surveillance and FSAPs increased by $8 million (large FSAPs: Canada, France, Italy).
    - Fund-financed capacity development declined by $2 million overall.
  - Fund policies, policy advice, and economic analysis rose by $3 million in total.
    - Fund policies and facilities up $1.4 million (shift toward LIC facilities and surveillance policy).
    - Policy advice and economic analysis up $2 million overall; monetary/financial/capital market outlays rose by $4.3 million; offsets included savings from streamlining flagships ($3.5 million) and general research ($1.4 million).
  - Governance and internal support declined by $4 million:
    - Change in methodology for commercial data subscriptions reduced costs by $7 million (allocated across outputs starting FY 19).
    - Higher expenses in CSF (winding down HQ1 Renewal, HQ security, utility costs), HRD (1HR and CCBR), and Innovation Lab partially offset reductions.

- Gross Administrative Fund-Financed Resources by Thematic Categories (FY 19 outturn, Millions of FY 19 U.S. dollars):
  - Total outturn: 1,170.
  - Country work: 474.
  - Policy advice and economic analysis: 166.
  - Contributions to global stability: 22.
  - Fund policies: 31.
  - IMF governance: 117.
  - Internal organization/support: 341.
  - Miscellaneous: 28.
  - Contingency: 12 (transitional demands in FY 19 budget).

### Country-level spending patterns
- 39 Fund-supported engagements in FY 19 (budgeted assumption was 44 possible programs). Nine potential programs did not materialize; four new program engagements occurred (Angola, Argentina, Barbados, Ecuador).
- Average spending per country: around $2.2 million.
- Spending by engagement status: Program cases = highest average spending; Standard surveillance cases = lowest average spending.
- Fragile states: average spend up about 4 percent in real terms, reaching $2.4 million; CD accounted for 40 percent of the total.
- Small states: average spend around $1.2 million.
- Regional averages (FY 19): African countries average $2.9 million; other regions averaged $2.0 million.
- Income grouping averages:
  - G-7 countries average increased to $2.8 million.
  - Other advanced economies flat at $1.5 million.
  - Low-income countries average steady at $2.9 million.
  - Emerging market countries average steady at $2.2 million.

### Externally financed capacity development (IMF02) and CD trends
- IMF02 outturn was $175 million, $6 million higher than last year but $21 million below the FY 19 operational target of $196 million.
- IMF02 shortfall about 11 percent; FY18 saw a jump that brought IMF02 near budgeted levels.
- Under-execution observed in CAPTAC-DR, SARTTAC, METAC, and some bilateral accounts; higher delivery mostly in AFRITAC Central.
- Drivers of shortfall: changes in delivery modalities, funding rigidities, delays in deployment of resident advisors, gaps in data systems.
- Mitigation: building timelier and more comprehensive budget monitoring under CDMAP.
- CD spending and budget outturn (Total CD spending, millions of U.S. dollars): FY 15: 242; FY 16: 256; FY 17: 267; FY 18: 303; FY 19: 306.
- CD (plus indirect costs/total spending) percent: FY 15: 26.5; FY 16: 27.6; FY 17: 27.9; FY 18: 30.5; FY 19: 29.6.
- CD financing concentration (FY17–19 contributions, Millions of U.S. dollars; Percent of total):
  - Total: 656 (100).
  - European Commission: 119 (18); Japan: 93 (14); Switzerland: 52 (8); United Kingdom: 44 (7); China: 40 (6); Germany: 39 (6); India: 33 (5); Canada: 30 (5); Netherlands: 28 (4); Kuwait: 26 (4); Other donors listed with exact amounts and shares.
- Vehicle composition (FY17–19, adjusted):
  - Multi-partner: Contribution 321; Share 64.
  - Thematic (and country) Trust Funds: Contribution 88; Share 17.
  - Regional Technical Assistance Centers: Contribution 20; Share 3.
  - Regional Training Centers: Contribution 30; Share 6.
  - Bilateral: Contribution 18; Share 36 (preserve original table formatting note).
  - Total: Contribution 502; Share 100.
- Funding risks and management:
  - Pursue broader partnerships; promote multi-partner and umbrella agreements; secure financing upfront; flexibly adjust work programs.

- CD distribution by department (Spending on CD, Millions of U.S. dollars, FY 15–19):
  - Fiscal Affairs (FAD): FY15 83; FY16 89; FY17 96; FY18 113; FY19 112 (FAD ~37 percent of CD in FY19).
  - Institute for Capacity Development (ICD): FY15 37; FY16 38; FY17 34; FY18 31; FY19 34.
  - Legal (LEG): FY15 12; FY16 12; FY17 13; FY18 14; FY19 12.
  - Monetary and Capital Markets (MCM): FY15 45; FY16 49; FY17 49; FY18 56; FY19 54.
  - Statistics (STA): FY15 28; FY16 28; FY17 29; FY18 36; FY19 41.
  - Other: FY15 23; FY16 27; FY17 26; FY18 33; FY19 31.
  - ICD-governance/donors: FY15 14; FY16 14; FY17 19; FY18 22; FY19 22.

- CD regional and income distribution (Direct Delivery, FY 18–19, In percent):
  - Sub-saharan Africa: Growth rate 3.7; FY 19 share 37.6.
  - Asia and Pacific: Growth rate 10.9; FY 19 share 22.5.
  - Europe: Growth rate -10.1; FY 19 share 9.8.
  - Middle East and Central Asia: Growth rate -2.3; FY 19 share 12.4.
  - Western Hemisphere: Growth rate -11.5; FY 19 share 13.9.
  - Income groups: Advanced economies Growth -1.3; FY 19 share 6.1. Emerging market and middle-income economies Growth -4.7; FY 19 share 45.2. Low-income developing countries Growth 6.3; FY 19 share 48.7.

- Priority topics and workstreams (Direct Delivery highlights, FY 18–19):
  - CD to FY 19 priorities accounted for 78 percent of total direct delivery spending.
  - Direct Delivery by priority topic shares (FY 19): Revenue Administration share 23.6; Public financial management share 18.7; Closing Data Gaps share 15.5; Financial Supervision and Regulation share 12.3; others as listed.
  - Top eight workstreams accounted for ~78.8 percent of total direct delivery in FY 19 (Revenue Administration share 20.4; Public Financial Management share 18.7; Macroeconomic Statistics share 15.1; etc.).
  - Growth areas include Fintech growth 125.4 (FY 18–19 growth rate; FY 19 share 0.0) and Central Bank Operations growth 13.1 (share 4.1).

- Training participation and delivery (number of participants):
  - Total training participation (FY 15–19): FY 15: 11,437; FY 16: 14,509; FY 17: 13,836; FY 18: 16,680; FY 19: 16,950.
  - Department participation examples (FY 19): FAD 3,273; ICD 8,643; LEG 329; MCM 1,536; STA 2,855; Other including RTACs 314.
  - Regional participation (FY 19): Sub-saharan Africa 4,912; Asia and Pacific 4,273; Europe 1,703; Middle East and Central Asia 3,340; Western Hemisphere 2,722.
  - Venue/modality (FY 19): Regional Training Centers 5,913; IMF HQ 747; Other training locations 5,874; Online learning (government officials) 4,416; Memorandum — Online learning (including general public) 6,674; Online learning enrollment (government officials) 13,049.
  - Participation trends: total training up 2 percent in FY 19; ICD largest provider; RTC participation up almost 8 percent; online learning (government and public) grew 12 percent; online enrollments grew 24 percent.

### Labor, personnel, travel, and other inputs
- Labor remained the key cost driver for all outputs.
  - Share of labor in output ranged from 62 percent for CD to 70 percent for multilateral surveillance.
  - Travel costs lowest share in multilateral surveillance and highest share in CD.
  - Current ACES configuration allocates no governance costs to CD; re-calibration may be warranted under new CD strategy.

- A. Total spending by inputs
  - Total net administrative expenditure was 99.7 percent of the structural budget.
  - Fund-financed net administrative expenditure at approved structural budget; utilization rate 99.9 percent.
  - Full FY 19 carry forward for staff departments ($31 million) available for FY 20.

- Personnel spending and staffing
  - Total personnel spending: $995 million, about $15 million below the structural budget.
    - Fund-financed personnel costs about $10 million above budget.
    - Externally financed personnel costs about $24 million below budget.
  - Salary expenses (Fund- and externally financed) roughly $8 million below the staff salary budget for FY 19.
  - Staffing levels and FTEs:
    - Total FTEs: FY17 = 3,762; FY18 = 3,881; FY19 = 3,899; Difference FY18-19 = 18.
    - Fund-financed FTEs: FY17 = 3,369; FY18 = 3,422; FY19 = 3,453; Difference FY18-19 = 31.
    - Externally financed FTEs: FY17 = 393; FY18 = 459; FY19 = 446; Difference FY18-19 = (13).
    - Regular and term (Fund-financed) FY19 = 2,865.
    - Expert and contractual (Fund-financed) FY19 = 588.
    - Regular and term (Externally financed) FY19 = 93.
    - Expert and contractual (Externally financed) FY19 = 353.
  - Overall vacancy rate declined to 1 percent.
  - Average Fundwide overtime rate stabilized at around 10½ percent; remains at or above 15 percent for most B-levels.

- Travel
  - Travel spending up about 3.3 percent from FY 18.
  - Travel budget utilization about 94 percent.
  - Annual Meetings travel = $5.4 million (excluded, spending otherwise essentially flat).
  - Mission activity:
    - Number of missions: FY17 = 8,170; FY18 = 8,296; FY19 = 7,858.
      - Africa missions FY19 = 1,970; Asia Pacific FY19 = 1,615; Europe FY19 = 1,645; Middle East and Central Asia FY19 = 675; Western Hemisphere FY19 = 1,953.
    - Mission nights: FY17 = 93,668; FY18 = 91,255; FY19 = 88,985.
    - Mission persons: FY17 = 13,153; FY18 = 13,490; FY19 = 12,947.
    - Average mission length increased from 11.0 to 11.3 person days.
    - Cost per mile increased from $0.37 in FY 18 to $0.38 in FY 19.

- Building, IT, security, and other services
  - Fund-financed building and other services exceeded structural budget by about $6 million (funded from carry forward).
  - Security-related spending stable at about $36 million.
  - IT security spending increased due to security posture assessment and penetration testing.
  - HQ security saw a small drop as Annual Meetings held abroad.

- Receipts
  - Total receipts about $3 million higher than last year.
  - Receipts from externally financed CD reported at $178 million (about $4 million higher year-on-year, but $18 million below operational target).
  - General receipts $36 million (roughly same as FY 18, but $3 million below budget).
  - One-time $2 million refund from GLI Premium Stabilization Reserves partially offset shortfalls.

### Use of carry forward and capital spending
- Carry forward use:
  - FY 19 budget included $31 million carry forward for staff departments and $15 million for OED and IEO.
  - Of staff carry forward, $18 million distributed upfront; additional $8 million distributed during year.
  - Carry forward financed transitional needs across Support, Area, and Functional Departments (detailed items listed in full chapter).

- Capital expenditure
  - Capital expenditure amounted to $141 million, an increase of about 22 percent relative to FY 18.
  - Available appropriations for FY 19 amounted to $258 million.
  - Spending composition:
    - HQ1 Renewal: about 60 percent of expenditures (over half of capital spending, $82 million).
    - Other building-related projects: $29 million.
    - IT capital expenditure: $31 million in total:
      - $17 million for digital and business modernization projects (out of $38 million available at start of FY 19).
      - 1HR $7 million; Knowledge Management $4 million; CDMAP $3 million; IDW $1 million; pre-requisite cloud technology almost $2 million.
      - Other IT capital projects: $8 million for end-of-life replacement and other business technology projects.
  - Capital funding and carryover:
    - Expenditures FY 19: Facilities = 29; IT = 31; HQ1 Renewal = 82; Total Capital Expenditures = 141.
    - Carry over into FY 20: Facilities = 48; IT = 23; HQ1 Renewal = 72; Total = 111.
  - Notes: Capital budgets available for three years; HQ1 Renewal approved funding available until April 2025; approx. $5.9 million in earmarked capital funding for security enhancements expired at end of FY 19.

### Annexes and statistical tables (high-level)
- Annex I: Capacity Development — detailed funding sources, training participation, and CD performance (summarized above).
- Annex II: Statistical Tables — FY 15–19 gross administrative spending by output, total administrative expenditures FY03–19, total Fund employment FY16–19, departmental travel and travel metrics FY17–19, capital expenditures FY13–19, and related tables with the exact series reproduced in the chapter.

*International Monetary Fund — FY2019 OUTPUT COST ESTIMATES AND BUDGET OUTTURN, Executive Summary; ppea2019035*

### EXECUTIVE SUMMARY

### EXECUTIVE SUMMARY

### FY2019 HIGHLIGHTS
- Spending was 99.7 percent of the $1.135 billion total net administrative budget (Fund- and externally financed).
- $1.131 bn — Total net administrative expenditures.
- 39 — Fund-supported programs (Down from 43 during FY 18). Spending on lending-related activities rose with more costly engagements.
- Country engagement (surveillance, lending, and capacity development) accounts for about half of total direct spending.
- $2.2mn — Average spending per country.
- $47mn — Carry forward available for FY 20 to meet transitional needs; $31 million for staff departments and the remainder for Offices of Executive Directors (OED) and the Independent Evaluation Office (IEO).
- Up $6 million from last year; 89.3 percent utilization of available budget.
- $175 mn — Externally financed spending (gross).
- $141mn — Capital spending. About 60 percent for HQ1 Renewal, 20 percent for information technology projects, and 20 percent for other building-related projects.
- Composition of spending by outputs (direct shares):
  - Country Work 49%
  - Policy advice and economic analysis 12%
  - IMF governance 9%
  - Internal organization/support 25%
  - Contributions to global stability 2%
  - Fund policies 2%
- Note: Excludes Miscellaneous spending.

### Overview and Budget Utilization
- Total net administrative expenditures (Fund- and externally financed) were $1,131 million, or 99.7 percent of the approved structural budget of $1,135 million.
- Relative to total net available resources (which included $31 million carry forward for staff and $15 million for OED and IEO from the previous financial year), the utilization rate was 95.8 percent.
- The net Fund-financed budget utilization rate was 99.9 percent; the full staff carry forward of $31 million therefore remains available for the FY 20 budget.
- Gross externally financed expenditures were $175 million, about $21 million below the operational target.
- Table 1 (overview figures reproduced):
  - Total gross expenditures: Budget 1,315; Outturn 1,309; Utilization 99.6 (FY 18) — Budget 1,371; Outturn 1,346; Utilization 98.1 (FY 19).
  - Fund-financed: Budget 1,143; Outturn 1,140; Utilization 99.8 (FY 18) — Budget 1,175; Outturn 1,170; Utilization 99.6 (FY 19).
  - Externally financed: Budget 172; Outturn 169; Utilization 98.2 (FY 18) — Budget 196; Outturn 175; Utilization 89.3 (FY 19).
  - Total net expenditures: Budget 1,104; Outturn 1,099; Utilization 99.5 (FY 18) — Budget 1,135; Outturn 1,131; Utilization 99.7 (FY 19).
  - Of which: Fund-financed: Budget 1,104; Outturn 1,104; Utilization 100.0 (FY 18) — Budget 1,135; Outturn 1,134; Utilization 99.9 (FY 19).
  - Carry forward from previous year: 44 (FY 18) — 46 (FY 19).
  - Total net available resources: 1,148 (FY 18) — 1,181 (FY 19).
  - Utilization against total net available resources: 95.7 percent (FY 18) — 95.8 percent (FY 19).

### Spending by Outputs — Relative to Budget
- Fund-financed spending in FY 19 broadly aligned with FY 19–21 Medium-Term Budget (MTB) priorities, except for higher-than-anticipated spending related to Fund policy work.
- The FY 19 budget had envisioned a small decline in Fund-financed country work compared to FY 18 MTB, while externally financed CD would grow; Fund-financed country work was in line with budget, but externally financed CD did not reach the operational target.
- Spending related to Fund policies was $4 million above initially allocated resources, reflecting higher-than-anticipated costs of major policy reviews (Low Income Country (LIC) facilities, Conditionality, PRGT, data provision).
- Spending on policy advice and economic analysis was somewhat lower-than-planned, particularly for multilateral surveillance and general research.
- Spending on internal organization and support was about $2 million lower than budgeted, reflecting vacancies in support functions and temporary reduction in IT development work.

- Gross Administrative Fund-Financed Resources by Thematic Categories (FY 19 outturn figures reproduced):
  - Total outturn: 1,170 (Millions of FY 19 U.S. dollars).
  - Country work: 474 (outturn).
  - Policy advice and economic analysis: 166 (outturn).
  - Contributions to global stability: 22 (outturn).
  - Fund policies: 31 (outturn).
  - IMF governance: 117 (outturn).
  - Internal organization/support: 341 (outturn).
  - Miscellaneous: 28 (outturn).
  - Contingency: 12 (transitional demands in FY 19 budget).

### Spending by Outputs — Relative to FY 18
- Country work increased by $13 million overall.
  - Lending-related activities rose by $7 million despite a lower number of Fund-supported programs, reflecting increased spending related to non-financial instruments and more intensive engagement with some countries.
  - Bilateral surveillance and FSAPs increased by $8 million, reflecting shifts from program to surveillance mode and several large FSAPs (Canada, France, Italy).
  - Fund-financed capacity development declined by $2 million overall; for MCM a decline in CD was partially offset by increased FSAP-related spending.
- Fund policies, policy advice, and economic analysis rose by $3 million in total with notable reallocations across topics:
  - Fund policies and facilities up $1.4 million; spending shifted toward LIC facilities and surveillance policy, including reviews of the Fund’s CD and digital strategies, social spending, and work on the Middle and Advanced Country Debt Sustainability Analysis.
  - Policy advice and economic analysis up $2 million overall. Outlays on monetary, financial, and capital market issues rose by $4.3 million (fintech, Islamic finance, financial aspects of income inequality and gender). Offsets included savings from streamlining flagships ($3.5 million) and general research ($1.4 million).
- Spending on governance and internal support declined by $4 million relative to last year:
  - A change in methodology for allocating commercial data subscriptions reduced costs in this area by $7 million (starting in FY 19 commercial data subscriptions of $7 million are allocated across outputs; in FY 18 they were captured in "internal organization/support").
  - Reductions partially offset by higher expenses in Corporate Services and Facilities (CSF) including winding down HQ1 Renewal, HQ security, and utility costs; HRD related to 1HR and Comprehensive Compensation and Benefits Review (CCBR); and the Innovation Lab.

### Country-Level Spending Patterns
- 39 Fund-supported engagements in FY 19 (budgeted assumption was 44 possible programs). Nine potential programs did not materialize; four new program engagements occurred (Angola, Argentina, Barbados, Ecuador).
- Average spending per country remained broadly stable at around $2.2 million.
- Spending by engagement status:
  - Program cases: highest average spending.
  - Standard surveillance cases: lowest average spending.
- Fragile states: average spend up about 4 percent in real terms, reaching $2.4 million; CD accounted for 40 percent of the total.
- Small states: average spend around $1.2 million.
- Regional averages (FY 19):
  - African countries had the highest average at $2.9 million, reflecting intense program engagement and significant CD activities.
  - Other regions averaged $2.0 million.
- Income grouping averages:
  - G-7 countries average increased to $2.8 million, driven by FSAPs for Canada, France, and Italy.
  - Other advanced economies remained flat at $1.5 million.
  - Low-income countries average steady at $2.9 million.
  - Emerging market countries average steady at $2.2 million.
  - G-20 countries: decline in bilateral surveillance (completion of FSAPs in Brazil, China, India, Japan) was offset by increased program work (Argentina) and CD.

### Externally Financed Capacity Development (IMF02)
- IMF02 outturn was $175 million, $6 million higher than last year but $21 million below the FY 19 operational target of $196 million.
- Under-execution observed in some Regional Capacity Development Centers (CAPTAC-DR, SARTTAC, METAC) and some bilateral accounts; higher delivery occurred in other vehicles, mostly AFRITAC Central.
- Shortfall drivers: changes in delivery modalities, rigidities from multiple narrowly defined funding sources, delays in deployment of resident advisors, and gaps in data systems.
- Ongoing mitigation: building timely and comprehensive budget monitoring data and procedures under the Capacity Development Management and Administration Program (CDMAP).
- Annex I contains further capacity development details (funding sources and training participation).

### Capital Spending and Other Inputs
- Capital expenditures were roughly 20 percent higher than last year.
- Capital spending composition:
  - About 60 percent for HQ1 Renewal.
  - 20 percent for information technology projects.
  - 20 percent for other building-related projects.
- Total capital spending reported as $141mn in FY2019 highlights.
- Trends in personnel spending, IT, buildings, security-related spending, and the use of carry forward are presented in figures and tables in the full chapter (Figures 8–11, Tables 3–7).
- Available carry forward and utilization:
  - Carry forward cited in different places: $47mn (highlights) and a breakdown of $31 million for staff and $15 million for OED and IEO referenced in the Overview (net available resources included $31 million carry forward for staff and $15 million for OED and IEO).

### Annexes and Further Content
- Annex I: Capacity Development (detailed funding sources, training participation, and CD performance).
- Annex II: Statistical Tables (detailed tables on administrative budget, gross resources by thematic categories, travel, receipts, capital expenditures, and departmental spending).

*International Monetary Fund — FY2019 OUTPUT COST ESTIMATES AND BUDGET OUTTURN, Executive Summary*

### 9.      Labor remained the key cost

### 9.      Labor remained the key cost

### Labor and input shares
- Labor was the key cost driver for all outputs (Figure 7).
- The share of labor in output ranged from 62 percent for CD to 70 percent for multilateral surveillance.
- Main differences across outputs were in travel and governance expenditures:
  - Travel costs had the lowest share in multilateral surveillance, and the highest share in CD.
  - Support costs were relatively evenly distributed across activities.
  - The current configuration of the cost accounting model (ACES) does not allocate any governance costs to CD (reflecting the extent of the Board’s operational role in CD activities). In light of the new CD strategy, which sets out more frequent Board engagement, a re-calibration of the allocation of governance costs may be warranted.

### A. Total Spending (Fund- and Externally Financed) by Inputs
- Total net administrative expenditure was 99.7 percent of the structural budget, a somewhat higher utilization rate than in FY 18 (Table 3).
- Fund-financed net administrative expenditure was at the approved structural budget, with a utilization rate of 99.9 percent.
- As a result, the full FY 19 carry forward for staff departments ($31 million) is available for FY 20, as envisaged in the FY2020–2022 medium-term budget.

### Personnel spending and staffing
- Total spending on personnel was $995 million, about $15 million below the structural budget (Figure 8, panel 4).
  - Fund-financed personnel costs were about $10 million above budget, reflecting primarily higher spending on several benefits (including health care), local salaries, and contractual resources.
  - Externally financed personnel costs were about $24 million below budget, as delivery of capacity development fell short of the target.
- Salary expenses for staff (Fund- and externally financed) were roughly $8 million below the staff salary budget for FY 19.
  - Over the year, the average salary declined as separating staff were generally replaced by new staff with lower salaries.
  - This salary budget space helped finance the merit increase for staff, which was awarded after the end of the financial year.
- Staffing levels and FTEs:
  - Total FTEs: FY17 = 3,762; FY18 = 3,881; FY19 = 3,899; Difference FY18-19 = 18.
  - Fund-financed FTEs: FY17 = 3,369; FY18 = 3,422; FY19 = 3,453; Difference FY18-19 = 31.
  - Externally financed FTEs: FY17 = 393; FY18 = 459; FY19 = 446; Difference FY18-19 = (13).
  - Regular and term (Fund-financed): FY19 = 2,865.
  - Expert and contractual (Fund-financed): FY19 = 588.
  - Regular and term (Externally financed): FY19 = 93.
  - Expert and contractual (Externally financed): FY19 = 353.
- The overall vacancy rate declined to 1 percent, reflecting a significant drop in area and functional non-TA departments.
- Contractual staffing (especially externally financed) has been highly volatile; the decline in FY 19 reflects lower-than-planned delivery of CD.
- The distribution of spending between salary and benefits as a share of total expenditures has remained constant in recent years.
- Average Fundwide overtime rate stabilized at around 10½ percent, though it remains at or above 15 percent for most B-levels.

### Travel
- Travel spending (including for the Annual Meetings) was up about 3.3 percent from FY 18 (Table 4).
- Utilization of the travel budget was about 94 percent.
  - The underspend was due to lower-than-expected (i) travel by functional TA departments and EUR, (ii) travel costs related to the Annual Meetings in Indonesia, and (iii) seminar participant and settlement travel.
  - Excluding Annual Meetings travel ($5.4 million), spending on Fund-financed travel was essentially flat.
- Mission activity:
  - Number of missions: FY17 = 8,170; FY18 = 8,296; FY19 = 7,858.
    - Africa region missions: FY19 = 1,970.
    - Asia Pacific region missions: FY19 = 1,615.
    - European region missions: FY19 = 1,645.
    - Middle East and Central Asia region missions: FY19 = 675.
    - Western Hemisphere region missions: FY19 = 1,953.
  - Mission nights: FY17 = 93,668; FY18 = 91,255; FY19 = 88,985.
    - Asia Pacific region mission nights increased to FY19 = 18,306.
  - Mission persons: FY17 = 13,153; FY18 = 13,490; FY19 = 12,947.
  - Even though the total number of missions fell by about 5 percent, more travel to Asia (due to the Annual Meetings), the slight increase in average mission length (from 11.0 to 11.3 person days), and higher cost per mile (from $0.37 in FY 18 to $0.38 in FY 19) drove up total travel spending year-on-year.

### Building, IT, and other services
- Spending on building and other services (Fund-financed) exceeded the structural budget by about $6 million (Figure 9).
  - This was largely anticipated and funded upfront from carry forward, and addressed increased security and lease costs, as well as higher consulting services to support modernization efforts.
  - Expenditures in this category declined by close to 4 percent in real terms, in part due to cost recovery related to translation services for externally financed CD projects, and a temporary reduction in IT system development work.
- Security-related spending has been relatively stable, at about $36 million (Figure 10).
  - The increase in spending on IT security was related to the completion of an overall security posture assessment and a higher volume of penetration testing for Fund systems.
  - HQ security saw a small drop mostly due to the Annual Meetings being held abroad (as host authorities cover this expense).

### Receipts
- Total receipts were about $3 million higher than last year (Table 6).
  - Receipts from externally financed capacity development ($178 million) were about $4 million higher (though about $18 million below the operational target).
  - General receipts ($36 million) were roughly the same as in FY 18, but $3 million below budget due to:
    - lower income from Trust Fund Management (TFM) fees (as externally financed CD fell short);
    - a decline in publication sales as more IMF reports were made available in digital format;
    - lower parking revenue due to partial use of available space for HQ1 Renewal construction storage; and
    - a decline in occupancy at the Concordia due to the loss of a major client and the Annual Meetings being held abroad.
  - These shortfalls were partially offset by a one-time $2 million refund from the Fund’s Group Life Insurance (GLI) Premium Stabilization Reserves.

### B. Use of the Carry Forward
- The carry forward made available to finance transitional demands remains largely intact, as the need for additional resources by some departments was offset by underspending by others (Figures 11 and 12).
- Departments with personnel underspending included the Communication Department (COM) and the Secretary’s Department (SEC), with restructuring efforts leading to higher vacancy rates in ITD and the Statistics Department (STA).
- The FY 19 budget had $31 million in carry forward resources from FY 18 available for staff departments (plus $15 million for the Offices of the Executive Directors and the Independent Evaluation Office).
  - Of the carry forward for staff departments, $18 million was distributed upfront to allow departments to meet transitional needs; an additional $8 million was distributed during the year to meet unanticipated demands.
- Financing was provided for transitional needs including:
  - Support Departments: continued pressure on corporate services, including additional costs for physical and IT security, support for critical legacy IT systems being replaced as part of the five key digital and business modernization projects, multimedia demands, and HR initiatives.
  - Area Departments: intensified country engagement under surveillance and lending, including for fragile states.
  - Functional Departments: Comprehensive Surveillance Review, macrofinancial surveillance, international taxation, trade, modernization, and governance and corruption.

### Capital spending
- Capital expenditure amounted to $141 million, an increase of about 22 percent relative to FY 18 (Table 7).
- Available appropriations for FY 19 amounted to $258 million.
- Spending composition:
  - HQ1 Renewal accounted for about 60 percent of the expenditures (over half of capital spending, $82 million).
  - Other building-related projects totalled $29 million, including investments in furniture replacements and the audio visual program, HQ1 Atrium enhancements (Digital Wall), security projects to reinforce building structures and other routine improvements and lifecycle replacements.
  - IT capital expenditure was $31 million in total:
    - $17 million for the digital and business modernization projects and pre-requisites, out of $38 million available at the start of FY 19.
    - 1HR spent $7 million (process redesign, product and vendor selection, planning).
    - Knowledge Management spent $4 million (content platform, findability tools, planning for document management solution).
    - CDMAP accounted for $3 million (initial planning and documentation).
    - Integrated Digital Workplace (IDW) spent $1 million (initial assessments).
    - iDATA work was delayed to refine requirements and evaluate technical solutions.
    - Almost $2 million for pre-requisite projects provided foundational cloud technology for integration and development work.
  - Other IT capital projects: $8 million spent on end-of-life replacement of network infrastructure, servers, storage, and personal computers, plus other business technology projects supporting new capabilities and legacy system replacement.
- Capital funding and carryover:
  - Unspent FY 17 and FY 18 Funding: Facilities = 83; IT = 54; HQ1 Renewal = 137; Total = 274? (table shows breakdown leading to Total funds available in FY 19 = 258)
  - Expenditures FY 19: Facilities = 29; IT = 31; HQ1 Renewal = 82; Total Capital Expenditures = 141.
  - Carry over into FY 20: Facilities = 48; IT = 23; HQ1 Renewal = 72; Total = 111.
- Notes:
  - Capital budgets are available for a period of three years, after which unspent appropriations lapse. A project is considered “capital” if it is for: (i) the acquisition of building or IT equipment; (ii) construction, major renovation, or repairs; and (iii) major IT software development or infrastructure projects.
  - HQ1 Renewal—Q4 FY2019 Quarterly Progress Report noted; HQ1 Renewal is on track for completion in FY 20 and its approved capital funding is available until April 2025.
  - Approximately $5.9 million in earmarked capital funding for security enhancements expired at the end of FY 19 due to delays resulting from engagement with the District of Columbia government agencies.

### Annex I. Capacity Development (high-level points)
- The annex provides additional information on capacity development (CD) activities: overall spending on CD activities, sources of external financing, CD distribution, and training participation.
- The share of spending on CD declined slightly in FY19, following significant increases in recent years.
  - CD has been the Fund’s largest single output since FY12, stabilizing around 30 percent of total spending, about 57 percent of which is externally financed.
  - Total CD spending of $306.3 million was effectively flat year-on-year, resulting from a decline in IMF01-funded spending, offset by 4 percent growth in IMF02-funded spending.
  - The decline in CD spending as a share of total expenditure in FY19 reflects under-execution versus the April 2018 budget projection by about $32 million.

*Source: ppea2019035 - 9.      Labor remained the key cost*

### 9.4 percent (Figure 1). For IMF02 this

### ppea2019035 - 9.4 percent (Figure 1). For IMF02 this

### CD Spending and Budget Outturn
- CD spending and budget measures (FY 15–19):
  - Total CD spending (by year, millions of U.S. dollars): FY 15: 242; FY 16: 256; FY 17: 267; FY 18: 303; FY 19: 306.
  - CD (plus indirect costs/total spending) (percent, FY 15–19): FY 15: 26.5; FY 16: 27.6; FY 17: 27.9; FY 18: 30.5; FY 19: 29.6.
- IMF01/IMF02 outturns and gaps:
  - For IMF02 the shortfall was about 11 percent.
  - FY18 saw a jump in spending that brought the IMF02 outturn near budgeted levels.
  - IMF02 outturn under-execution contributors: CAPTAC-DR, SARTTAC, METAC, and some bilateral accounts.
  - Offsetting higher delivery: mostly AFRITAC Central.
- Ongoing mitigation:
  - Work to reduce underspending includes building more timely and comprehensive budget monitoring data and procedures under the CDMAP.

### Sources and Composition of External Funding
- Top partner concentration:
  - Over the last three years, the top 25 partners contributed 94 percent of total external funding for CD.
  - The top five partners together contributed just over half.
- Partner contribution vehicles and shares (FY 17–19, contributions received during FY17–19, adjusted for RTC in-kind contributions):
  - Contributions by donor (Millions of U.S. dollars; Percent of total):
    - European Commission: 119 (18)
    - Japan: 93 (14)
    - Switzerland: 52 (8)
    - United Kingdom: 44 (7)
    - China: 40 (6)
    - Germany: 39 (6)
    - India: 33 (5)
    - Canada: 30 (5)
    - Netherlands: 28 (4)
    - Kuwait: 26 (4)
    - Austria: 17 (3)
    - Australia: 14 (2)
    - Luxembourg: 14 (2)
    - Korea: 11 (2)
    - New Zealand: 8 (1)
    - Norway: 8 (1)
    - Singapore: 8 (1)
    - Belgium: 7 (1)
    - Caribbean Development Bank: 6 (1)
    - France: 5 (1)
    - Sweden: 4 (1)
    - Denmark: 4 (1)
    - European Investment Bank: 4 (1)
    - Italy: 4 (1)
    - Bangladesh: 3 (0)
    - Other donors and institutions: 36 (6) (of which: private foundations: 1 (0))
    - Total: 656 (100)
- Vehicle composition (Funds received during FY17–19, adjusted for RTC in-kind contributions):
  - Multi-partner: Contribution 321 (Millions of U.S. dollars); Share 64 (Percent of Total).
  - Thematic (and country) Trust Funds: Contribution 88; Share 17.
  - Regional Technical Assistance Centers: Contribution 20; Share 3.
  - Regional Training Centers: Contribution 30; Share 6.
  - Bilateral: Contribution 18; Share 36 (note: table shows Bilateral 18 136 — preserve formatting as presented).
  - Total: Contribution 502; Share 100.
- Concentration within vehicles:
  - Top 3 donors account for 42 percent of contributions to RCDCs and thematic funds.
  - Recipient members’ contributions for RCDCs stand at 27 percent.

### Funding Risks and Management
- Active measures to manage funding risks:
  - Pursue broader and more sustained partnerships through active fundraising with a wider range of partners to reduce dependence on large contributors.
  - Increase flexibility by promoting multi-partner and umbrella agreements that enable allocation across a range of CD activities.
  - Reduce operational risks by:
    - Securing financing upfront before carrying out CD delivery.
    - Flexibly adjusting components of a work program if funding falls short.
  - All CD projects/programs have built-in degrees of flexibility to allow adjustments.

### CD Distribution by Department, Region, and Priority Areas
- By Delivery Department (Spending on CD by Department, FY 15–19, Millions of U.S. dollars):
  - Fiscal Affairs: FY15 83; FY16 89; FY17 96; FY18 113; FY19 112.
  - Institute for Capacity Development: FY15 37; FY16 38; FY17 34; FY18 31; FY19 34.
  - Legal: FY15 12; FY16 12; FY17 13; FY18 14; FY19 12.
  - Monetary and Capital Markets: FY15 45; FY16 49; FY17 49; FY18 56; FY19 54.
  - Statistics: FY15 28; FY16 28; FY17 29; FY18 36; FY19 41.
  - Other (including area departments and other functional departments reporting CD-related activities): FY15 23; FY16 27; FY17 26; FY18 33; FY19 31.
  - ICD-governance/donors: FY15 14; FY16 14; FY17 19; FY18 22; FY19 22.
- Department shares and changes:
  - FAD accounted for around 37 percent of CD expenditures in FY19.
  - Only STA and ICD saw increases in spending in FY19, by around 13 and 11 percent year-on-year, respectively.
  - Spending dropped in LEG due to completion of major projects and shifts toward other priority outputs.
- By Recipient Region and Income Group (Direct Delivery, FY 18–19, In percent):
  - Total growth rate FY 19 / FY 18: 0.6; FY 19 share: 100.0.
  - Regions (Growth rate; FY 19 share):
    - Sub-saharan Africa: 3.7; 37.6
    - Asia and Pacific: 10.9; 22.5
    - Europe: -10.1; 9.8
    - Middle East and Central Asia: -2.3; 12.4
    - Western Hemisphere: -11.5; 13.9
    - Multiple regions: 5.8; 3.8
  - Income groups (Growth rate; FY 19 share):
    - Advanced economies: -1.3; 6.1
    - Emerging market and middle-income economies: -4.7; 45.2
    - Low-income developing countries: 6.3; 48.7
- Priority topics and workstreams:
  - CD to FY 19 priorities (late FY 17) accounted for 78 percent of total direct delivery spending.
  - Table highlights (Direct Delivery by Priority Topics, FY 18–19, In percent):
    - Total Direct Delivery growth FY 19 / FY 18: 0.6; FY 19 share: 100.0.
    - Total Direct Delivery in Priority Topics: 0.6; 77.8.
    - Domestic revenue mobilization (Revenue Administration and Tax Policy): Growth 3.2; Share 23.6.
    - Public financial management: Growth -4.3; Share 18.7.
    - Closing Data Gaps, Ratcheting up Data Quality, Broadening Data Dissemination: Growth 12.8; Share 15.5.
    - Financial Supervision and Regulation, Fintech and Monetary Policy Frameworks (excl. AEs): Growth -4.2; Share 12.3.
    - Financial Market Deepening for LIDCs: Growth -3.6; Share 4.8.
    - Financial integrity (AML/CFT): Growth -14.2; Share 2.8.
  - Top eight workstreams (core areas) accounted for around 80 percent of total direct delivery in FY 19:
    - Total Direct Delivery in Top Eight Workstreams: Growth 2.0; FY 19 share 78.8.
    - Revenue Administration: Growth 6.7; Share 20.4.
    - Public Financial Management: Growth -4.3; Share 18.7.
    - Macroeconomic Statistics: Growth 11.7; Share 15.1.
    - Financial Supervision and Regulation: Growth -6.7; Share 7.4.
    - Macroeconomic Frameworks: Growth 8.9; Share 7.0.
    - Central Bank Operations: Growth 13.1; Share 4.1.
    - Tax Policy: Growth -14.7; Share 3.2.
    - Financial Integrity (AML/CFT): Growth -14.2; Share 2.8.
  - Growth areas identified (Direct Delivery on Growth Areas, FY 18–19, In percent):
    - Topic growth areas (growth rate; FY 19 share):
      - Anti-corruption: -8.4; 1.4
      - Debt sustainability and debt statistics: 6.3; 1.0
      - Expenditure policy and public investment management: -2.8; 2.3
      - Tax policy: -4.4; 2.6
      - Cyber risks: 0.9; 0.4
      - Fintech: 125.4; 0.0
    - Country group growth areas (growth rate; FY 19 share):
      - Highly-vulnerable countries: 1.1; 16.3
      - Fragile states: 3.3; 22.6
      - Caucuses-Central Asia-Mongolia (CCAM): 22.5; 5.7

### Training Participation and Delivery
- Overall participation:
  - Total training participation (number of participants, FY 15–19): FY 15: 11,437; FY 16: 14,509; FY 17: 13,836; FY 18: 16,680; FY 19: 16,950.
  - Participation growth FY 19 / FY 18: 0.6.
- Participation by department (number of participants, FY 15–19):
  - Fiscal Affairs: FY15 1,711; FY16 1,985; FY17 2,241; FY18 2,810; FY19 3,273.
  - Institute for Capacity Development: FY15 4,906; FY16 7,394; FY17 7,320; FY18 8,930; FY19 8,643.
  - Legal: FY15 400; FY16 625; FY17 481; FY18 430; FY19 329.
  - Monetary and Capital Markets: FY15 1,186; FY16 1,368; FY17 1,167; FY18 1,367; FY19 1,536.
  - Statistics: FY15 1,906; FY16 2,198; FY17 2,058; FY18 2,332; FY19 2,855.
  - Other including RTACs: FY15 1,328; FY16 939; FY17 569; FY18 811; FY19 314.
- Regional participation (number of participants, FY 15–19):
  - Sub-saharan Africa: FY15 2,901; FY16 3,996; FY17 4,345; FY18 4,749; FY19 4,912.
  - Asia and Pacific: FY15 2,829; FY16 2,922; FY17 2,504; FY18 3,674; FY19 4,273.
  - Europe: FY15 1,314; FY16 2,150; FY17 1,887; FY18 1,900; FY19 1,703.
  - Middle East and Central Asia: FY15 2,116; FY16 2,553; FY17 2,831; FY18 3,527; FY19 3,340.
  - Western Hemisphere: FY15 2,277; FY16 2,888; FY17 2,269; FY18 2,830; FY19 2,722.
- Venue and modality (number of participants, FY 15–19):
  - Regional Training Centers: FY15 3,751; FY16 4,084; FY17 4,140; FY18 5,495; FY19 5,913.
  - IMF HQ: FY15 647; FY16 790; FY17 719; FY18 801; FY19 747.
  - Other training locations: FY15 5,551; FY16 5,756; FY17 5,607; FY18 5,528; FY19 5,874.
  - Online learning (government officials): FY15 1,488; FY16 3,879; FY17 3,370; FY18 4,856; FY19 4,416.
  - Memorandum items — Online learning (including general public): FY15 4,990; FY16 6,579; FY17 7,232; FY18 5,933; FY19 6,674.
  - Online learning enrollment (government officials): FY15 2,438; FY16 7,155; FY17 6,876; FY18 10,513; FY19 13,049.
- Participation trends and notes:
  - Participation in IMF training grew by 2 percent in FY 19.
  - ICD remains the largest provider of training, followed by FAD and STA.
  - Africa received the largest share of training at 30 percent in previous reporting, followed by Asia Pacific and the Middle East and Central Asia.
  - Training participation grew in Africa and Asia Pacific, declined slightly in other regions.
  - Training to participants from LIDCs rose by almost 11 percent; AEs rose by 15 percent; EMEs dropped but continue to receive a little over 50 percent share of training; LIDCs received almost 41 percent share.
  - RTC participation increased by almost 8 percent in FY 19 due to ramp up in China-IMF CD Center (launched in FY18) and South Asia Regional Training and Technical Assistance Center (launched in FY 17); these two centers account for almost 35 percent of participation across RTCs.
  - Total participation in online learning (government and public) grew by 12 percent in FY 19, with a shift toward non-government participants; enrollments grew 24 percent while course completion by officials moderated. Online training for officials stood at 26 percent of total IMF training in FY 19.
  - Participation from fragile states and program countries increased in share; highly vulnerable countries’ share leveled out; share from small developing states increased by two percentage points.

*Prepared by Preet Bhullar, Jeymi Blandon, Nathalie Carcenac, Lina Karaoglanova, Jeffrey Lam, Herbert Lui, Mercy Pinargote, Yan Sun, and André Vieira de Carvalho (all ICD).*

### Annex II. Statistical Tables

### Annex II. Statistical Tables

### FY 15–19 Gross Administrative Fund- and Externally Financed Spending by Output (Table 1)
- Total (FY 15–FY19): 1,287; 1,303; 1,321; 1,339; 1,346 (Millions of FY 19 U.S. dollars) — 100.0  100.0  100.0  100.0  100.0 (Percent of total)
- Multilateral surveillance: 266; 258; 255; 267; 254 — 20.7  19.8  19.3  19.9  18.9
  - Global economic analysis: 130; 127; 126; 127; 121 — 10.1  9.7  9.5  9.5  9.0
    - WEO: 18; 18; 17; 17; 15 — 1.4  1.4  1.3  1.3  1.1
    - GFSR: 16; 16; 15; 16; 13 — 1.2  1.2  1.2  1.2  1.0
  - General research: 41; 42; 38; 37; 38 — 3.2  3.2  2.9  2.8  2.9
  - General outreach: 55; 51; 55; 56; 54 — 4.3  3.9  4.2  4.2  4.0
  - Support and Inputs to Multilateral Forums and Consultations: 23; 24; 23; 23; 23 — 1.8  1.8  1.7  1.7  1.7
  - Multilateral consultations: 7; 7; 6; 5; 4 — 0.5  0.5  0.5  0.4  0.3
  - Support and Inputs to multilateral forums: 17; 17; 17; 17; 19 — 1.3  1.3  1.3  1.3  1.4
- Tools to prevent and resolve systemic crises: 64; 62; 66; 75; 68 — 5.0  4.8  5.0  5.6  5.1
  - Analysis of vulnerabilities and imbalances: 18; 17; 18; 20; 19 — 1.4  1.3  1.3  1.5  1.4
  - Other cross cutting analysis: 43; 41; 44; 48; 43 — 3.4  3.2  3.3  3.6  3.2
  - Fiscal Monitor: 3; 4; 5; 7; 5 — 0.3  0.3  0.4  0.5  0.4
- Regional approaches to economic stability: 48; 45; 40; 42; 42 — 3.7  3.5  3.0  3.2  3.1
  - REOs: 19; 21; 19; 19; 19 — 1.5  1.6  1.4  1.4  1.4
  - Surveillance of regional bodies: 13; 10; 9; 8; 8 — 1.0  0.8  0.7  0.6  0.6
  - Other regional projects: 16; 14; 13; 15; 15 — 1.3  1.1  1.0  1.1  1.1
- Oversight of global systems: 134; 130; 135; 139; 146 — 10.4  10.0  10.2  10.4  10.9
  - Development of international financial architecture: 42; 38; 42; 40; 46 — 3.3  2.9  3.2  3.0  3.4
  - Work with FSB and other international bodies: 6; 7; 8; 7; 7 — 0.5  0.5  0.6  0.5  0.5
  - Other work on monetary, financial, and capital markets issues: 36; 31; 35; 33; 40 — 2.8  2.4  2.6  2.5  2.9
- Data transparency: 40; 37; 38; 41; 42 — 3.1  2.8  2.9  3.0  3.1
  - Statistical information/data: 29; 29; 30; 33; 33 — 2.2  2.2  2.3  2.4  2.4
  - Statistical manuals: 4; 3; 2; 2; 2 — 0.3  0.2  0.2  0.2  0.2
  - Statistical methodologies: 7; 5; 6; 6; 7 — 0.5  0.4  0.4  0.4  0.5
- The role of the Fund: 52; 56; 55; 58; 58 — 4.1  4.3  4.1  4.3  4.3
  - Development and review of Fund policies and facilities excl. PRGT and GRA: 21; 20; 20; 26; 26 — 1.7  1.5  1.5  2.0  2.0
  - Development and review of Fund policies and facilities - PRGT: 11; 11; 12; 11; 13 — 0.9  0.8  0.9  0.8  1.0
  - Development and review of Fund policies and facilities - GRA: 7; 8; 9; 8; 0 — 0.5  0.6  0.7  0.7  0.6
  - Quota and voice: 6; 7; 6; 7; 0 — 0.5  0.6  0.4  0.5  0.5
  - SDR issues: 7; 9; 8; 5; 4 — 0.6  0.7  0.6  0.4  0.3
- Bilateral surveillance: 300; 311; 325; 327; 340 — 23.3  23.9  24.6  24.4  25.3
  - Assessment of economic policies and risks: 267; 274; 276; 286; 294 — 20.7  21.1  20.9  21.3  21.9
    - Article IV consultations: 195; 204; 204; 216; 224 — 15.2  15.6  15.5  16.1  16.7
    - Other bilateral surveillance: 71; 71; 72; 70; 70 — 5.6  5.4  5.4  5.2  5.2
  - Financial soundness evaluations - FSAPs/OFCs: 23; 27; 39; 32; 37 — 1.8  2.1  2.9  2.4  2.7
  - Standards and Codes evaluations: 11; 10; 10; 9; 9 — 0.8  0.8  0.7  0.7  0.7
    - ROSCs: 3; 2; 2; 1; 1 — 0.2  0.1  0.2  0.1  0.1
    - AML/CFT: 2; 2; 2; 2; 2 — 0.2  0.1  0.1  0.2  0.2
    - GDDS/SDDS: 5; 7; 6; 5; 6 — 0.4  0.5  0.5  0.4  0.4
- Lending (incl. non-financial instruments): 190; 189; 175; 167; 177 — 14.8  14.5  13.2  12.5  13.2
  - Arrangements supported by Fund resources: 145; 144; 143; 145; 134 — 11.3  11.1  10.8  10.8  9.9
    - Programs and precautionary arrangements supported by general resources: 81; 82; 75; 71; 69 — 6.3  6.3  5.7  5.3  5.1
    - Programs supported by PRGT resources: 64; 63; 68; 74; 65 — 5.0  4.8  5.1  5.6  4.8
  - Non-financial instruments and debt relief 2/: 45; 45; 32; 22; 43 — 3.5  3.4  2.4  1.7  3.2
- Capacity development: 339; 356; 363; 408; 401 — 26.4  27.3  27.5  30.5  29.8
  - Technical assistance: 283; 297; 303; 343; 335 — 22.0  22.8  23.0  25.6  24.9
  - Training: 56; 59; 60; 65; 66 — 4.4  4.5  4.5  4.9  4.9
- Miscellaneous 3/: 49; 44; 48; 29; 26 — 3.8  3.4  3.6  2.1  2.0
- Reconciliation item 4/: 9; 14; 20; 20; — 0.7  1.1  1.5  0.1  -
- Notes:
  - 1/ Support and governance costs are allocated to outputs.
  - 2/ Includes Post Program Monitoring (PPM), Policy Support Instruments (PSI), Staff Monitored Program (SMP), Near Programs, Ex-Post Assessments (EPA), MDRI-I, MDRI-II, HIPC, JSAN, PCDR, CCRT, and trade integration mechanisms.
  - 3/ "Miscellaneous" includes expenditures that cannot be properly allocated within the ACES model.
  - 4/ Reconciliation to gross administrative expenditures as per the Fund's financial system.

### Total Administrative Expenditures: Budgets and Outturn, FY 03–19 (Table 2)
- Net Budget (A) and Gross Budget (B) time series presented FY 2003–2019 with Budget amounts, Outturn amounts, and differences reported as Amount and Percent.
- Selected FY values (Net Budget A):
  - 2003: Budget 746; Outturn 720; Difference -26 -3.55
  - 2004: Budget 786; Outturn 748; Difference -38 -4.83
  - 2005 3/: Budget 850; Outturn 826; Difference -24 -2.86
  - 2012 4/: Budget 985; Outturn 947; Difference -38 -3.93
  - 2019 11/: Budget 1,135; Outturn 1,131; Difference -4 -0.33
- Selected FY values (Gross Budget B):
  - 2003: Budget 794; Outturn 764; Difference -30 -3.85
  - 2009: Budget 967; Outturn 885; Difference -82 -8.5
  - 2010: Budget 1,032; Outturn 950; Difference -81 -7.9
  - 2019 11/: Budget 1,371; Outturn 1,346; Difference -26 -1.95
- Notes and one-off items:
  - 1/ Includes contributions to the SRP service credit buy back program of $8 million in FY 05, $10 million in FY 06, $20.5 million in FY07, and $2.1 million in FY 08 and a one off voluntary contribution of $12 million in FY 09.
  - 2/ Includes one-off supplementary contributions to the RSBIA of $27 million in FY 09, $30 million in FY 10; $45 million in FY 11; $30 million in FY 12; $12 million in FY 13; $8 million in FY 16; and $2 million in FY 17.
  - 3/ FY 05 figures include $48 million contribution to SRP following Executive Board decision to set contributions at 14 percent of gross remuneration.
  - 4–11/ Footnotes identify exclusions of carry forward funds for specified FYs (amounts listed exactly in original).

### Total Fund Employment, FY 16–19 (Table 3)
- Total Fund employment (FTEs):
  - FY 16: 3,705
  - FY 17: 3,762
  - FY 18: 3,881
  - FY 19: 3,899
- Regular and term staff:
  - FY 16: 2,836; FY 17: 2,890; FY 18: 2,923; FY 19: 2,958
  - Fund-financed regular/term staff: FY 16: 2,767; FY 17: 2,813; FY 18: 2,836; FY 19: 2,865
  - Externally financed regular/term staff: FY 16: 69; FY 17: 77; FY 18: 87; FY 19: 93
  - Independent Evaluation Office (IEO): 14; 14; 15; 15
  - Office of Executive Directors (OED): 244; 250; 247; 247
- Expert and Contractual Staff 1/:
  - FY 16: 869; FY 17: 872; FY 18: 958; FY 19: 941
  - Fund-financed experts/contractuals: 556; 556; 586; 588
  - Externally financed experts/contractuals: 313; 316; 372; 353
- Note 1/: Includes experts (including short-term), contractuals, visiting scholards, secretarial support, and other. Excludes local employees in the field.

### Departmental Business and Seminar Travel & Travel Metrics, FY 17–19 (Tables 4 and 5)
- Departmental business and seminar travel expenditures (Millions of U.S. dollars) by type of cost and financing:
  - By type of cost total: FY 17: 90; FY 18: 110; FY 19: 116
    - Transportation: 52; 65; 68
    - Per diem: 38; 45; 48
  - By type of financing:
    - Fund-financed: 52; 65; 70
    - Externally financed: 38; 45; 46
  - By department:
    - Area: 27; 30; 29
    - TA functional: 46; 63; 65
    - Other functional: 6; 6; 6
    - Support and Governance: 5; 5; 9
    - OED and IEO: 5; 5; 7
  - Memorandum: In percent of total gross expenditures: 7.2; 8.4; 8.6
  - Note 1/: Includes Annual Meetings overall travel of approximately $5.4 million.
- Travel metrics (FY 17, FY 18, FY 19; percent change FY 19 vs FY 18):
  - Number of missions: 8,170; 8,296; 7,858; -5
    - Area: 1,370; 1,366; 1,445; 6
    - TA Functional: 4,960; 5,121; 4,979; -3
    - Functional Non-TA: 1,001; 989; 788; -20
    - Support and Governance: 839; 820; 646; -21
  - Mission nights: 93,668; 91,255; 88,985; -2
    - Area: 24,722; 24,115; 24,778; 3
    - TA Functional: 60,939; 59,762; 57,497; -4
    - Functional Non-TA: 4,560; 3,781; 3,714; -2
    - Support and Governance: 3,447; 3,597; 2,996; -17
  - Mission persons: 13,153; 13,490; 12,947; -4
    - Area: 3,557; 3,605; 3,806; 6
    - TA Functional: 7,252; 7,584; 7,259; -4
    - Functional Non-TA: 1,203; 1,169; 938; -20
    - Support and Governance: 1,141; 1,132; 944; -17
  - Note 1/: Excludes Annual Meetings, IEO, OED.

### Capital Expenditures, FY 13–19 (Table 6)
- Capital categories shown: Information Technology, HQ1 Renewal, Concordia Renovation, HQ2 Facilities, Total Capital.
- FY 13:
  - New appropriations (1): 7.4; 34.3; 0.0; 347.0; 0.0; 388.7
  - Total funds available (2): 21.1; 63.2; 0.1; 427.3; 31.6; 543.3
  - Expenditures (3): 7.4; 37.1; 0.0; 22.0; 22.3; 88.8
  - Lapsed funds 1/ (4): 1.4; 0.5; 0.0; 0.0; 0.0; 1.8
  - Remaining funds 2/ (5) = (2)-(3)-(4): 12.4; 25.6; 0.0; 405.3; 9.3; 452.6
- FY 14:
  - New appropriations (6): 17.4; 23.8; 0.0; 0.0; 0.0; 41.2
  - Total funds available (7) = (5)+(6): 29.8; 49.4; 0.0; 405.3; 9.3; 493.8
  - Expenditures (8): 10.1; 36.6; 0.0; 92.2; 4.8; 143.8
  - Lapsed funds 1/ (9): 0.5; 0.0; 0.0; 0.0; 3.9; 4.4
  - Remaining funds 2/ (10) = (7)-(8)-(9): 19.2; 12.8; 0.0; 313.1; 0.6; 345.7
- FY 15:
  - New appropriations (11): 22.0; 29.8; 0.0; 0.6; 3; 52.4
  - Total funds available (12) = (10)+(11): 41.2; 42.6; 313.1; 0.6; 397.4
  - Expenditures (13): 10.5; 29.3; 95.7; 0.3; 135.8
  - Lapsed funds 1/ (14): 0.6; 0.3; 0.0; 0.3; 1.2
  - Remaining funds 2/ (15) = (12)-(13)-(14): 30.1; 12.9; 217.4; 0.0; 260.4
- FY 16:
  - New appropriations (16): 14.4; 27.7; 132.0; 4/; 174.1
  - Total funds available (17) = (15)+(16): 44.5; 40.6; 349.4; 434.5
  - Expenditures (18): 14.6; 25.8; 90.1; 130.5
  - Lapsed funds 1/ (19): 0.4; 0.1; 0.0; 0.6
  - Remaining funds 2/ (20) = (17)-(18)-(19): 29.4; 14.7; 259.2; 303.4
- FY 17:
  - New appropriations (21): 32.5; 28.0; 0.0; 60.5
  - Total funds available (22) = (20)+(21): 62.0; 42.7; 259.2; 363.9
  - Expenditures (23): 17.9; 27.9; 76.3; 122.1
  - Lapsed funds 1/ (24): 5.4; 0.2; 0.0; 5.6
  - Remaining funds 2/ (25) = (22)-(23)-(24): 38.7; 14.6; 182.9; 236.2
- FY 18:
  - New appropriations (26): 31.4; 35.0; 0.0; 66.4
  - Total funds available (27) = (25)+(26): 70.1; 49.6; 182.9; 302.6
  - Expenditures (28): 22.3; 31.4; 62.3; 116.0
  - Lapsed funds 1/ (29): 0.3; 0.0; 0.0; 0.3
  - Remaining funds (30) = (27)-(28)-(29): 47.4; 18.2; 120.6; 186.3
- FY 19:
  - New appropriations (31): 35.5; 35.9; 0.0; 71.4
  - Total funds available (32) = (30)+(31): 82.8; 54.1; 120.6; 257.5
  - Expenditures (33): 28.7; 30.9; 81.6; 141.2
  - Lapsed funds 1/ (34): 5.9; 0.0; 0.0; 5.9
  - Remaining funds 2/ (35) = (32)-(33)-(34): 48.1; 23.2; 39.0; 110.4
- Sources and notes:
  - Sources: Office of Budget and Planning and Corporate Services and Facilities Department and Information Technology Department.
  - Note: Figures may not add to totals due to rounding.
  - 1/ Figures reflect funds that were not spent within the three-year appropriation period.
  - 2/ Figures reflect the unspent amount of the budget appropriation in the period concerned.
  - 3/ Unspent Concordia funds appropriated in FY 12 expired at the end of FY 14 with the exception of $0.6 million reappropriated for FY 15.
  - 4/ Additional appropriations were approved for the HQ1 Renewal Program during FY 16.

*Source: Office of Budget and Planning, Analytic Costing and Estimation System (ACES).*

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_Source: https://www.imf.org/-/media/files/publications/pp/2019/ppea2019035.pdf_