## _082216 - EXECUTIVE SUMMARY

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### Overview and budget outturn
- Net administrative budget outturn in FY 16: $1,038 million against an approved budget of $1,052 million.
- Modest underspend of $13 million reflecting preservation of the contingency reserve and lower-than-planned travel expenditure.
- Higher budget execution led to a small real year-on-year increase in net expenditures: 0.8 percent.
- Overall budget utilization for net expenditures in FY 16: almost 99 percent.
- Total gross expenditures FY 16 (Budget): 1,247; Outturn: 1,215; Variance: 33; Utilization (percent): 97.4.
- Total net expenditures FY 16 (Budget): 1,052; Outturn: 1,038; Variance: 13; Utilization (percent): 98.7.

### Spending by output: shifts and drivers
- General shift from crisis management to crisis prevention, consistent with MKGs.
- Bilateral Surveillance
  - Share of spending on Bilateral Surveillance increased by 0.7 percentage points of total spending.
  - Article IV spending increased as surveillance became more risk-based and resources were directed to intensive surveillance cases and vulnerable countries.
  - Enhanced macrofinancial surveillance and systemic FSAPs drove up spending on Bilateral Surveillance, with FY 16 seeing increased spending on mandatory FSAPs to systemic countries.
- Capacity Development (CD)
  - Fund-financed CD increased its share of the Fund-financed budget by 0.8 percentage points from last year.
  - Including externally-financed activity, CD increased its share of the Fund’s overall output by 1.1 percentage points from last year.
  - TA departments stepped up support to intensive surveillance/vulnerable countries; externally-financed TA also grew.
- Multilateral Surveillance and Global Oversight
  - Multilateral surveillance’s share of output fell as streamlining measures reduced spending on multilateral flagships and general outreach.
  - Global Oversight declined overall, though spending on quota and governance and on SDR reform increased in line with MKGs.
- Lending
  - Lending’s share of output fell only slightly as the number of active programs was broadly unchanged; some countries transitioned between financial and non-financial programs.
- Input implication
  - Labor remains the key cost driver across outputs.
  - Shifts toward CD and Bilateral Surveillance increase pressure on travel and support costs because CD activities have the largest share of travel costs and joint highest overhead costs (with Bilateral Surveillance).

### Country-level spending and alignment with risk
- Average country spending broadly aligned with assessment of risk:
  - Highest average spending for countries with programs or identified as vulnerable, especially those combining both features.
  - Intensive surveillance cases absorbed more resources than standard surveillance cases.
- Role of capacity development in country spending:
  - CD represented over a third of total Fund spending on member countries.
  - For standard surveillance and program cases, the share of externally-financed CD in average country spending exceeded Fund-financed CD; reversed for intensive surveillance and vulnerable cases.
- Year-on-year changes in average country spending:
  - Intensive surveillance cases and vulnerable countries saw the largest year-on-year changes in average spend.
  - Fund-financed CD accounted for almost 40 percent of the $0.5 million increase in average spend for intensive surveillance cases.
  - Example compositional effects: countries vulnerable in both 2015 and 2016 saw average spending increase 6 percent in real terms; countries only classified as vulnerable in 2016 saw average spending increase 24 percent in real terms.
- Regional patterns:
  - AFR region had the highest level of average country spend in FY 16, reflecting high levels of program spending and significant CD (Fund- and externally-financed).
  - APD and EUR regions had very high average spend on vulnerable, program, or intensive surveillance countries, offset by lower spending on standard surveillance countries.

### Spending by input: utilization, flexibility, and headline figures
- Total capital expenditures recorded in FY 16: $131 million out of $435 million in available appropriations.
  - HQ1 Renewal expenses constituted 70 percent of the spending.
- Fund-level flexibility and in-year reallocations:
  - $52 million was set aside and available for unforeseen needs or reallocations: a central contingency of $10 million and carry forward from the previous year of $42 million.
  - About 30 percent of this flexibility was reserved for the Offices of Executive Directors (OED) and the Independent Evaluation Office (IEO).
  - Of the $36 million available to staff, $15 million was provided during the year to address temporary budget pressures.
  - Total unspent funds of $43.2 million will be carried forward to FY 17.
    - Staff (non-OED/IEO) portion of the carry forward: $29 million.
    - Contingency reserves: $8 million.
    - Combined staff portion plus contingency: $37 million available for distribution to address identified temporary needs ($14 million) and any additional budgetary pressures during the year.
    - Carry forward available to OED and IEO totals $14 million.
- Table 1 headline fund-financed figures (FY 16):
  - Fund-financed Gross expenditures (Budget): 1,091; Outturn: 1,075; Variance: 16; Utilization (percent): 98.5.
  - Fund-financed Personnel (Budget): 804; Outturn: 803; Variance: 1/1; Utilization (percent): 99.8.
  - Fund-financed Travel (Budget): 89; Outturn: 81; Variance: 9; Utilization (percent): 90.3.
  - Fund-financed Building and other expenses (Budget): 187; Outturn: 191; Variance: -4; Utilization (percent): 102.2.
  - Fund-financed Contingency (Budget): 10; Outturn: 0; Variance: 10; Utilization (percent): 0.0.
  - Fund-financed Receipts (Budget): -39; Outturn: -34; Variance: -5; Utilization (percent): 87.8.
- Externally-financed headline figures (FY 16):
  - Externally-financed Gross expenditures (Budget): 157; Outturn: 140; Variance: 17; Utilization (percent): 89.3.
  - Externally-financed Personnel (Budget): 103; Outturn: 93; Variance: 10; Utilization (percent): 90.2.
  - Externally-financed Travel (Budget): 41; Outturn: 39; Variance: 2; Utilization (percent): 94.8.
  - Externally-financed Building and other expenses (Budget): 12; Outturn: 8; Variance: 4; Utilization (percent): 64.9.
  - Externally-financed Receipts (Budget): -157; Outturn: -142; Variance: -15; Utilization (percent): 90.7.
- Drivers of the FY 16 underspend:
  - Preservation of contingency reserve.
  - Lower-than-planned travel expenditure.
  - Partially offset by higher spending on building and other expenses and lower receipts.

### Personnel, staffing, and compensation
- Fund-financed personnel spending:
  - Including an additional contribution to the Retired Staff Benefit Investment Account (RSBIA), spending rose 0.5 percent in real terms.
  - First phase of the Categories of Employment reform (CoE) implemented; CoE provided conversion of positions from contractual to staff with higher benefit costs.
  - Fund-financed contractual employment fell about 4 percent; Fund-financed regular staffing increased 1.5 percent.
  - Fund-wide average vacancy rate dropped to 1.3 percent from 1.7 percent in FY 15.
  - Continued use of policy allowing departments to hire above FTE limits within their dollar budgets helped higher utilization.
  - Average staff salary increased in line with the budget; staff turnover brought down the average salary midpoint.
- Overtime:
  - Average overtime rate fell from peak of 14 percent at end-FY 13 to 11.5 percent in FY 16.
  - Target overtime rate is 10 percent.
  - Flexible work arrangements and increased annual leave usage contributed to overtime reduction.
- FTE excerpts (FY 14–16):
  - Fund-financed Regular, fixed term, limited term staff: Budget 2,680; Outturn FY16 2,727 2,787 2,767 (table presentation).
  - Expert and contractual staff 1/: 567 582 n/a 556 (table presentation).
  - Externally-financed Regular, fixed term, limited term staff: 53 57 68 69 (table presentation).
  - Externally-financed Expert and contractual staff 1/: 275 296 n/a 313 (table presentation).
  - Note: 1/ Includes experts (including short term experts), contractual staff, visiting scholars, secretarial support staff, paid overtime, and other.

### Travel details and performance
- Increased travel spending includes approximately $4 million for travel to Lima for the Annual Meetings (note in table: estimated $3.9 million).
- Excluding Annual Meetings travel, Fund-financed travel decreased slightly and was lower than budgeted levels.
- Fund-financed trips, excluding Annual Meetings, increased by 5 percent year-on-year.
- Estimated number of miles flown spiked in FY 16, likely reflecting the Annual Meetings.
- Average airfare cost per mile decreased by around 5 percent in FY 16.
- Fund reduced its average airfare per trip by 7 percent in FY 16 due to lower cost per mile and improved advanced ticketing.
- Travel table excerpts (FY 14–16 Millions of U.S. dollars):
  - Budget Outturn Expenditures: 117 112 130 120 (table presentation).
  - Fund-financed: 82 78 89 81 (table presentation).
  - Business travel: 66 62 72 64 (table presentation).
  - Other travel 2/: 11 10 11 11 (table presentation).
  - Externally-financed: 34 35 41 39 (table presentation).
  - Externally-financed Business travel: 26 25 32 28 (table presentation).
  - Seminars and other travel: 9 9 11 (table presentation).
  - Note: 2/ Includes travel expenditures related to interviews, settlement, and evacuations.

### Building, other expenditures, and receipts
- Building and other expenses declined in FY 16 compared to the previous year.
- Fund-financed expenditures were $4 million higher than budget.
- Overspend driven by additional security costs at headquarters and overseas locations, high demand for language services, and increased communications related to mobile devices and international roaming charges.
- Some savings realized in supplies and equipment purchases and information services subscriptions.
- Building and other table excerpts (FY 14–16 Millions of U.S. dollars):
  - Total buildings and other expenses: FY15 Budget 203; Outturn 204; FY16 Budget 200; Outturn 199.
  - Fund-financed: 196 194 187 191 (table presentation).
  - Building occupancy: 60 58 56 58 (table presentation).
  - Information technology: 59 60 60 59 (table presentation).
  - Contractual services: 34 35 32 32 (table presentation).
  - Communications: 9 8 7 8 (table presentation).
  - Supplies and equipment: 8 7 7 6 (table presentation).
  - Other: 7 6 5 8 (table presentation).
  - Note: Figures may not add to totals due to rounding.
- Receipts performance:
  - Overall receipts trend higher as externally-financed activities grow.
  - Drawdown of external funds for CD grew 8 percent year-on-year, but receipts came in below budget.
  - Lower-than-planned external CD led to a smaller trust fund management fee.
  - Other shortfalls related to streamlining sharing arrangements between the Fund and World Bank for the Spring and Annual Meetings and underperforming Concordia revenues.
- Receipts table excerpts (FY 14–16 Millions of U.S. dollars):
  - Total: FY14 Budget/Outturn 160 167; FY15 196 176 (table presentation).
  - Externally-financed capacity development (direct cost only): 124 131 157 142 (table presentation).
  - General receipts: 36 37 39 34 (table presentation).
  - Administrative and trust fund management fees 1/: 99 111 110 (table presentation).
  - Publications income: 6 3 2 2 (table presentation).
  - Fund-sponsored sharing agreements 2/: 4 4 5 3 (table presentation).
  - HQ2 lease 3/: 4 5 4 (table presentation).
  - Concordia apartments: 2 3 4 3 (table presentation).
  - Parking: 3 3 3 3 (table presentation).
  - Notes: 1/ Trust fund management fee of 7 percent under the new financing instrument. 2/ Includes reimbursements principally provided by the World Bank for administrative services provided under sharing agreements. 3/ Includes lease of space to the World Bank, Credit Union and retail tenants.

### Security-related spending
- Estimated security spending increased by $2.6 million, or 9 percent in real terms.
- Increase aligned with estimates supporting the additional $6 million appropriation for security needs in the FY 17 budget.
- Components of increased security spending:
  - Field security: additional resources to missions and personnel in High Risk Locations (HRLs) and other destinations with temporary security escalation; number of HRLs and security consultants assigned to missions increased.
  - HQ security: additional security needed for off-site office space leased to accommodate staff during the HQ1 renovation; price increases on security guards contract related to the Affordable Care Act.
  - IT security: continued investment to protect information assets; increased spending to maintain Enterprise Information Security Program improvements.
- Security spending table (Millions of FY 16 dollars, FY 13–16):
  - Administrative expenses: 25.5 27.7 28.7 31.3 (table presentation).
  - Field security: 8.4 8.9 7.9 8.9.
  - HQ security: 13.4 13.2 13.7 14.0.
  - Business continuity: 0.6 0.6 0.6 0.6.
  - IT security: 3.1 5.0 6.5 7.8.
  - Spending as percent of administrative budget: 2.1 2.2 2.3 2.5.
  - Capital expenses: 3.9 4.6 7.0 4.2.
- Figures represent best estimates as not all security costs are specifically identified as such in the financial systems.

### Externally-financed outturn and inputs
- Externally-financed CD spending increased 9 percent in FY 16.
- Growth constrained by security concerns in recipient countries, implementation bottlenecks, and some residual Ebola-related delays.
- Externally-financed activities draw heavily on personnel and travel; external funding of these inputs grew faster than Fund-financed equivalents.
- Key externally-financed changes:
  - Externally-financed personnel costs grew at around 8 percent in real terms, compared to flat real Fund-financed spending in this category.
  - Number of regular staff FTEs covered by external financing (charge-backs) grew 21 percent; externally-financed contractual employment grew 6 percent (compared to 1.5 percent and -4 percent for Fund-financed regular and contractual employment, respectively).
  - Externally financed travel spending grew 11 percent, while Fund-financed travel excluding the Annual Meetings declined.
  - Total number of externally financed trips increased by more than 20 percent (Fund-financed trips increased 5 percent).

### Capital investment and HQ1 Renewal
- Total capital expenditures of $131 million recorded in FY 16 out of $435 million in available appropriations.
- HQ1 Renewal accounted for 70 percent of capital spending.
- $15 million in facilities projects primarily supported the HQ1 project.
- IT capital spending of $26 million included investments in infrastructure, security and data management and dissemination.
- Facilities investments used one-third of available resources in FY 16 due to delay in HQ1 renewal causing a corresponding delay in audio/visual replacements.
  - Possibility that some previously appropriated funding will lapse because capital budget funds are available for three years; if lapses occur, new appropriations will be requested for FY 18.
  - FY 16 facilities spending included new media center, restroom and routine HQ2 building renovations and maintenance, and audio/visual replacements for completed HQ1 areas.
- IT capital investments used over 60 percent of available resources in FY 16; expenditure largely dedicated to IT infrastructure and services, IT security, core and strategic applications development (results-based management for TA, platforms for free data, data management for surveillance and capacity development, IMF.org improvements), and cross-cutting projects including MS Office platform upgrades.
- Total IT spending (capital and administrative) remained within benchmark range of 9–11 percent of total spending.
- HQ1 Renewal project:
  - Detailed analysis of project budget and schedule undertaken; supplementary funding approved; negotiation of a global settlement with General Contractor and major subcontractors completed.
  - Construction in common areas and lower office floors close to complete with reoccupancy expected during summer of 2016.
  - Over half of the renovation was completed by end FY 16.
- Capital expenditures table excerpts (FY 16 Millions of U.S. dollars):
  - Appropriated in FY 16 budget: HQ1 Facilities 14.4; IT Renewal 27.7; Total 132.0; 174.1 (table presentation).
  - + Unspent from FY 14 and FY 15 budgets: 30.1 12.9 217.4 260.4 (table presentation).
  - = Total funds available in FY 16 2/: 44.5 40.6 349.4 434.5.
  - Total expenditures in FY 16: 14.6 25.8 90.1 130.5.
  - Note: Approved capital budget funds are available to projects for three consecutive years. Unspent funds appropriated under the FY 14 capital budget lapsed at the end of FY 16. Unspent HQ1 renewal funds appropriated in FY 13 and FY 16 will lapse in 2018 and 2025, respectively, under an exception to the rule.

### Capacity Development — overview, delivery, and donors
- CD has been 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 16.
- TA delivery accounts for about 84 percent of total spending on CD in FY 16.
- Execution of donor-financed CD activities improved in FY 16:
  - Gap between budgeted and delivered activities was $15 million, or 10 percent of the budget, in FY 16.
  - Discrepancy mainly due to cautious budgeting, ongoing health and security risks in some regions, and operational issues.
  - Examples: South Sudan Trust Fund and some MNRW projects affected by security risks; Ebola-related delays in Sierra Leone and Guinea; delayed launch of some bilateral projects (e.g., SECO and Japan subaccounts).
- Sources of external funding (FY 12–16):
  - Top 15 donors contributed $706 million, or 86 percent of total external funding.
  - Top donors and contributions (Millions of U.S. dollars and Share Percent of Total):
    - Japan: 156 — 19.0
    - European Union: 140 — 17.0
    - Canada: 82 — 10.0
    - United Kingdom: 64 — 7.8
    - Switzerland: 57 — 6.9
    - Kuwait: 40 — 4.9
    - Austria: 29 — 3.5
    - Australia: 28 — 3.4
    - Netherlands: 22 — 2.7
    - Mauritius: 20 — 2.4
    - Norway: 18 — 2.2
    - Singapore: 14 — 1.7
    - Belgium: 14 — 1.7
    - Korea: 12 — 1.5
    - Germany: 10 — 1.2
    - Other donors and international institutions: 117 — 14.2
    - Total: 823 — 100.0
  - CD Vehicles: Top Donor Contributions (Millions of U.S. dollars and Share Percent of Total):
    - Multidonor: 458 — 59.6
      - of which: Topical Trust Funds (TTFs): 117 — 15.2
      - Regional Training Assistance Centers (RTACs): 257 — 33.4
      - Regional Training Centers (RTCs): 84 — 10.9
    - Bilateral: 311 — 40.4
    - Total: 769 — 100.0
  - Notes: Figures may not add to totals due to rounding. TTF and RTAC: signed contributions and pledges for current cycle as of April 30, 2016. For RTC and bilateral: contributions made during FY 12–16.
- Characteristics of external funding:
  - Donor contributions made to multi-donor vehicles (nine RTACs, four RTCs, eleven topical and country trust funds) or bilateral programs/projects.
  - Host countries manage three regional training programs (RTPs) where Fund staff provides training.
  - During current funding cycles, top 10 donors provided 60 percent of their contributions to multi-donor vehicles.
  - Contributions to multi-donor vehicles tend to come from a few donors; top three donors account for just under half of funding to RTACs and topical and country trust funds.
  - For RTACs, recipient members contribute almost 20 percent of total funding.

### Governance, TA volume, training, and results measurement
- Governance and prioritization of CD:
  - Strengthened following Executive Board review (June 2013) and updated CD policy statement (2014).
  - Fund- and donor-financing of CD aims to ensure adequate funding for crisis situations; donor financing used when interests align with Fund priorities; Fund financing used when donor support not available.
  - Prioritization at institutional and country levels; key CD priorities for FY 16: scale up support to fragile states and Arab countries in transition (ACT); increase assistance on financial sector issues; maintain high level of support to LIDCs and small states.
- TA volume and composition (Person years of field delivery, FY 12–16):
  - Total TA field delivery rose by five percent to 303 FTEs in FY 16.
  - TA by topic (Person years): Fiscal: FY 12 121; FY 13 148; FY 14 149; FY 15 146; FY 16 152.
  - Monetary and financial sector: FY 12 64; FY 13 63; FY 14 68; FY 15 72; FY 16 79.
  - Statistical: FY 12 24; FY 13 32; FY 14 37; FY 15 42; FY 16 38.
  - Legal: FY 12 16; FY 13 14; FY 14 15; FY 15 12; FY 16 12.
  - Other: FY 12 13; FY 13 17; FY 14 15; FY 15 16; FY 16 22.
  - Staff type: Long-term resident experts: FY 12 84; FY 13 94; FY 14 100; FY 15 97; FY 16 93. Short-term experts: FY 12 93; FY 13 101; FY 14 116; FY 15 118; FY 16 122. HQ-based staff: FY 12 61; FY 13 70; FY 14 73; FY 15 80; FY 16 88.
  - Funding source: Fund-financed: FY 12 51; FY 13 47; FY 14 53; FY 15 54; FY 16 51. Externally-financed: FY 12 188; FY 13 227; FY 14 232; FY 15 234; FY 16 252.
  - Total TA (Person years): FY 12 239; FY 13 274; FY 14 285; FY 15 288; FY 16 303.
- Externally-financed TA:
  - Accounted for about 83 percent of TA field delivery in FY 16.
  - Ratio of donor-financed to total TA delivery relatively stable since FY 12 at about 81 percent.
- TA delivery to priority areas (Person years of field delivery, FY 12–16):
  - Arab Countries in Transition: FY 12 45; FY 13 77; FY 14 79; FY 15 59; FY 16 57.
  - Fragile states: FY 12 65; FY 13 74; FY 14 76; FY 15 78; FY 16 78.
  - Financial sector: FY 12 64; FY 13 63; FY 14 68; FY 15 72; FY 16 79.
  - Low-income developing countries: FY 12 117; FY 13 136; FY 14 140; FY 15 137; FY 16 146.
  - Small states: FY 12 37; FY 13 44; FY 14 46; FY 15 49; FY 16 52.
- Training volume and modalities:
  - Total training volume increased by about 35 percent in FY 16 to about 19,500 participant weeks.
  - Delivery largely by Institute for Capacity Development (ICD) and the Statistics Department (STA).
  - Face-to-face training grew by about eight percent.
  - Online learning accounted for about 30 percent of Fund training in FY 16; online courses increased to thirteen in FY 16 from six in FY 15.
  - Regional training: AFR had the highest growth in face-to-face training in FY 16.
  - Training by priority group (Participant weeks, FY 12–16): Arab Countries in Transition: FY 12 599; FY 13 670; FY 14 856; FY 15 710; FY 16 704. Fragile states: FY 12 2,119; FY 13 2,246; FY 14 2,621; FY 15 2,591; FY 16 3,214. Financial sector: FY 12 2,759; FY 13 2,707; FY 14 2,921; FY 15 2,880; FY 16 3,326. Low-income developing countries: FY 12 4,743; FY 13 4,706; FY 14 5,285; FY 15 5,647; FY 16 7,337. Small states: FY 12 903; FY 13 1,034; FY 14 1,592; FY 15 1,606; FY 16 1,776.
  - Training growth in FY 16 by priority group: low-income developing countries grew by about 30 percent; fragile states grew by about 25 percent; training in financial sector issues and to small states rose by over ten percent; training to Arab countries in transition remained broadly stable.
- Progress on measurement of results:
  - CD evaluation framework being strengthened in line with The Fund’s Capacity Development Strategy.
  - Work ongoing to develop an institutional approach to evaluation for all Fund CD activities.
  - Results Based Management (RBM) and CD-PORT:
    - CD-PORT being implemented in phases; all CD work, regardless of funding source, expected to be in the system by April 2017.
    - CD-PORT objectives when fully implemented: strengthen monitoring of CD delivery and results; integrate project and budget management with systematic tracking of TA results; generate reports on implementation pace against verifiable outcome indicators to inform allocation of scarce CD resources and evaluation of projects.

### Key institutional and financial metrics (selected)
- Total Fund employment (Full-time Equivalents):
  - FY 14 3,574; FY 15 3,661; FY 16 3,704.
  - Regular, fixed term, limited term staff: FY 14 2,732; FY 15 2,784; FY 16 2,835.
  - Expert and contractual staff: FY 14 841; FY 15 877; FY 16 869.
- Capacity development spending (Millions of FY 16 U.S. dollars):
  - Capacity development (Table 1 spending by output): FY 11 227; FY 12 269; FY 13 297; FY 14 313; FY 15 316; FY 16 332.
  - Technical assistance: FY 11 175; FY 12 210; FY 13 240; FY 14 259; FY 15 264; FY 16 277.
  - Training: FY 11 52; FY 12 59; FY 13 56; FY 14 55; FY 15 52; FY 16 55.

*Source: EXECUTIVE SUMMARY (FY2016: OUTPUT COST ESTIMATES AND BUDGET OUTTURN PAPER).*

### EXECUTIVE SUMMARY

### _082216 - EXECUTIVE SUMMARY

### Overview
- Operating within a flat real budget envelope, the Fund delivered on the priorities and initiatives laid out in the Global Policy Agenda (GPA) and Management’s Key Goals (MKGs).
- Net administrative budget outturn in FY 16: $1,038 million against an approved budget of $1,052 million.
- The modest underspend of $13 million reflects preservation of the contingency reserve and lower-than-planned travel expenditure.
- Higher budget execution led to a small real year-on-year increase in net expenditures: 0.8 percent.
- Overall budget utilization for net expenditures in FY 16: almost 99 percent.

### Spending by Output: major shifts and drivers
- General shift from crisis management to crisis prevention, consistent with MKGs.
- Bilateral Surveillance
  - Share of spending on Bilateral Surveillance increased by 0.7 percentage points of total spending.
  - Article IV spending increased as surveillance became more risk-based and resources were directed to intensive surveillance cases and vulnerable countries.
  - Enhanced macrofinancial surveillance and systemic FSAPs drove up spending on Bilateral Surveillance, with FY 16 seeing increased spending on mandatory FSAPs to systemic countries.
- Capacity Development (CD)
  - Fund-financed CD increased its share of the Fund-financed budget by 0.8 percentage points from last year.
  - Including externally-financed activity, CD increased its share of the Fund’s overall output by 1.1 percentage points from last year.
  - TA departments stepped up support to intensive surveillance/vulnerable countries; externally-financed TA also grew.
- Multilateral Surveillance and Global Oversight
  - Multilateral surveillance’s share of output fell as streamlining measures reduced spending on multilateral flagships and general outreach.
  - Global Oversight declined overall, though spending on quota and governance and on SDR reform increased in line with MKGs.
- Lending
  - Lending’s share of output fell only slightly as the number of active programs was broadly unchanged; some countries transitioned between financial and non-financial programs.
- Implication for inputs
  - Labor remains the key cost driver across outputs.
  - Shifts toward CD and Bilateral Surveillance increase pressure on travel and support costs because CD activities have the largest share of travel costs and joint highest overhead costs (with Bilateral Surveillance).

### Country-level spending and risk alignment
- Average country spending was broadly aligned with assessment of risk:
  - Highest average spending for countries with programs or identified as vulnerable, especially those combining both features.
  - Intensive surveillance cases absorbed more resources than standard surveillance cases.
- Role of capacity development in country spending:
  - CD represented over a third of total Fund spending on member countries.
  - For standard surveillance and program cases, the share of externally-financed CD in average country spending exceeded Fund-financed CD; this pattern was reversed for intensive surveillance and vulnerable cases.
- Year-on-year changes in average country spending:
  - Intensive surveillance cases and vulnerable countries saw the largest year-on-year changes in average spend.
  - Fund-financed CD accounted for almost 40 percent of the $0.5 million increase in average spend for intensive surveillance cases.
  - Example compositional effects: countries vulnerable in both 2015 and 2016 saw average spending increase 6 percent in real terms; countries only classified as vulnerable in 2016 saw average spending increase 24 percent in real terms.
- Regional patterns:
  - AFR region had the highest level of average country spend in FY 16, reflecting high levels of program spending and significant CD (Fund- and externally-financed).
  - APD and EUR regions had very high average spend on vulnerable, program, or intensive surveillance countries, offset by lower spending on standard surveillance countries.

### Spending by Input: utilization, flexibility, and key figures
- Total capital expenditures recorded in FY 16: $131 million out of $435 million in available appropriations.
  - HQ1 Renewal expenses constituted 70 percent of the spending.
- Fund-level flexibility and in-year reallocations (Box 1):
  - $52 million was set aside and available for unforeseen needs or reallocations: a central contingency of $10 million and carry forward from the previous year of $42 million.
  - About 30 percent of this flexibility was reserved for the Offices of Executive Directors (OED) and the Independent Evaluation Office (IEO).
  - Of the $36 million available to staff, $15 million was provided during the year to address temporary budget pressures.
  - Total unspent funds of $43.2 million will be carried forward to FY 17.
    - Staff (non-OED/IEO) portion of the carry forward: $29 million.
    - Contingency reserves: $8 million.
    - Combined staff portion plus contingency: $37 million available for distribution to address identified temporary needs ($14 million) and any additional budgetary pressures during the year.
    - Carry forward available to OED and IEO totals $14 million.
- Table 1 headline figures (administrative budget, FY 15–16, summary):
  - Total Gross Expenditures FY 16 (Budget): 1,247; Outturn: 1,215; Variance: 33; Utilization (percent): 97.4
  - Total Net Expenditures FY 16 (Budget): 1,052; Outturn: 1,038; Variance: 13; Utilization (percent): 98.7
  - Fund-financed Gross expenditures FY 16 (Budget): 1,091; Outturn: 1,075; Variance: 16; Utilization (percent): 98.5
  - Fund-financed Personnel FY 16 (Budget): 804; Outturn: 803; Variance: 1/1; Utilization (percent): 99.8
  - Fund-financed Travel FY 16 (Budget): 89; Outturn: 81; Variance: 9; Utilization (percent): 90.3
  - Fund-financed Building and other expenses FY 16 (Budget): 187; Outturn: 191; Variance: -4; Utilization (percent): 102.2
  - Fund-financed Contingency FY 16 (Budget): 10; Outturn: 0; Variance: 10; Utilization (percent): 0.0
  - Fund-financed Receipts FY 16 (Budget): -39; Outturn: -34; Variance: -5; Utilization (percent): 87.8
  - Externally-financed Gross expenditures FY 16 (Budget): 157; Outturn: 140; Variance: 17; Utilization (percent): 89.3
  - Externally-financed Personnel FY 16 (Budget): 103; Outturn: 93; Variance: 10; Utilization (percent): 90.2
  - Externally-financed Travel FY 16 (Budget): 41; Outturn: 39; Variance: 2; Utilization (percent): 94.8
  - Externally-financed Building and other expenses FY 16 (Budget): 12; Outturn: 8; Variance: 4; Utilization (percent): 64.9
  - Externally-financed Receipts FY 16 (Budget): -157; Outturn: -142; Variance: -15; Utilization (percent): 90.7
- Drivers of the FY 16 underspend:
  - Preservation of contingency reserve.
  - Lower-than-planned travel expenditure.
  - Partially offset by higher spending on building and other expenses and lower receipts.

### Capital investment
- Total capital expenditures FY 16 recorded: $131 million out of $435 million available appropriations.
- HQ1 Renewal accounted for 70 percent of capital spending.
- IT capital expenditures by capability reported in FY 16 (aggregate reference in figures and tables).

*Source: EXECUTIVE SUMMARY (FY2016: OUTPUT COST ESTIMATES AND BUDGET OUTTURN PAPER).*

### 15.      Fund-financed personnel spending was flat in real terms and represents close to full

### 15.      Fund-financed personnel spending was flat in real terms and represents close to full

### Personnel: utilization, staffing, and compensation
- Including an additional contribution to the Retired Staff Benefit Investment Account (RSBIA), spending rose 0.5 percent in real terms.
- The first phase of the Categories of Employment reform (CoE) was implemented; the CoE reform provided for a conversion of positions from contractual to staff with higher benefit costs.
- Higher utilization was helped by the continued use of the policy that allows departments to hire above FTE limits within their dollar budgets.
- Fund-financed contractual employment fell about 4 percent, while Fund-financed regular staffing increased 1.5 percent.
- The Fund-wide average vacancy rate dropped to 1.3 percent from 1.7 percent in FY 15.
- Most departments are practically fully staffed as they stepped up hiring above FTE limits to minimize vacancy lags.
- The average staff salary increased in line with the budget in FY 16; staff turnover brought down the average salary midpoint as vacancies were generally filled at lower grades than incumbents, creating budget space in the pay envelope for the merit increase.
- Overtime:
  - Average overtime rate continued its downward trend from its peak of 14 percent at end-FY 13 to 11.5 percent in FY 16.
  - Target overtime rate is 10 percent.
  - Flexible work arrangements and better management practices contributed to overtime reduction; usage of annual leave increased.
- Table 2 (FTE Utilization, FY 14–16) excerpts:
  - Fund-financed Regular, fixed term, limited term staff: Budget 2,680; Outturn FY16 2,727 2,787 2,767 (as presented in table lines).
  - Expert and contractual staff 1/: 567 582 n/a 556 (as presented in table lines).
  - Externally-financed Regular, fixed term, limited term staff: 53 57 68 69 (as presented).
  - Externally-financed Expert and contractual staff 1/: 275 296 n/a 313 (as presented).
- Note: 1/ Fund-financed and externally-financed experts (including short term experts), contractual staff, visiting scholars, secretarial support staff, paid overtime, and other.

### Travel
- Increased travel spending includes approximately $4 million for travel to Lima for the Annual Meetings.
- Excluding the Annual Meetings travel, Fund-financed travel decreased slightly and was lower than budgeted levels.
- Lower cost due to reduced costs per mile and improved advanced ticketing practices.
- Fund-financed trips, excluding Annual Meetings, increased by 5 percent year-on-year.
- Estimated number of miles flown spiked in FY 16, likely reflecting the effect of the Annual Meetings.
- The average airfare cost per mile decreased by around 5 percent in FY 16.
- The Fund reduced its average airfare per trip by 7 percent in FY 16 due to lower cost per mile and improved advanced ticketing.
- Table 3. Travel FY 14–16 (Millions of U.S. dollars) excerpts:
  - Budget Outturn Expenditures: 117 112 130 120 (table line as presented).
  - Fund-financed: 82 78 89 81 (table line as presented).
  - Business travel: 66 62 72 64 (table line as presented).
  - Other travel 2/: 11 10 11 11 (table line as presented).
  - Externally-financed: 34 35 41 39 (table line as presented).
  - Externally-financed Business travel: 26 25 32 28 (table line as presented).
  - Seminars and other travel: 9 9 11 (table line as presented).
- Note: 1/ Includes an estimated $3.9 million of costs related to travel to the Annual Meetings in Lima. 2/ Includes travel expenditures related to interviews, settlement, and evacuations.

### Building and other expenditures
- Building and other expenses declined in FY 16 compared to the previous year.
- Fund-financed expenditures were $4 million higher than budget.
- Overspend mainly due to additional costs for security at headquarters and overseas locations, continued high demand for language services, and increase in communications related to more mobile devices and international roaming charges.
- Some savings realized in supplies and equipment purchases and information services subscriptions.
- Table 4. Building and Other Expenditures, FY 14–16 (Millions of U.S. dollars) excerpts:
  - Total buildings and other expenses: FY15 Budget 203; Outturn 204; FY16 Budget 200; Outturn 199.
  - Fund-financed: 196 194 187 191 (table line as presented).
  - Building occupancy: 60 58 56 58 (table line as presented).
  - Information technology: 59 60 60 59 (table line as presented).
  - Contractual services: 34 35 32 32 (table line as presented).
  - Communications: 9 8 7 8 (table line as presented).
  - Supplies and equipment: 8 7 7 6 (table line as presented).
  - Other: 7 6 5 8 (table line as presented).
- Note: Figures may not add to totals due to rounding.

### Receipts
- Overall receipts continue to trend higher as externally-financed activities grow.
- Drawdown of external funds for CD grew 8 percent year-on-year, but receipts came in below budget.
- Lower-than-planned external CD led to a smaller trust fund management fee.
- Other shortfalls related to streamlining sharing arrangements between the Fund and World Bank for the Spring and Annual Meetings and underperforming Concordia revenues.
- Table 5. Receipts, FY 14–16 (Millions of U.S. dollars) excerpts:
  - Total: FY14 Budget/Outturn 160 167; FY15 196 176 (table lines as presented).
  - Externally-financed capacity development (direct cost only): 124 131 157 142 (table line as presented).
  - General receipts: 36 37 39 34 (table line as presented).
  - Administrative and trust fund management fees 1/: 99 111 110 (table line as presented).
  - Publications income: 6 3 2 2 (table line as presented).
  - Fund-sponsored sharing agreements 2/: 4 4 5 3 (table line as presented).
  - HQ2 lease 3/: 4 5 4 (table line as presented).
  - Concordia apartments: 2 3 4 3 (table line as presented).
  - Parking: 3 3 3 3 (table line as presented).
- Notes: 1/ Trust fund management fee of 7 percent under the new financing instrument. 2/ Includes reimbursements principally provided by the World Bank for administrative services provided under sharing agreements. 3/ Includes lease of space to the World Bank, Credit Union and retail tenants.
- Note: Figures may not add to totals due to rounding.

### Security-related spending (Box 2)
- Estimated security spending increased by $2.6 million, or 9 percent in real terms.
- Increase aligned with estimates supporting the additional $6 million appropriation for security needs in the FY 17 budget.
- Components of increased security spending:
  - Field security: additional security resources provided to missions and personnel in High Risk Locations (HRLs) and other destinations with temporary security escalation; number of HRLs and security consultants assigned to missions increased.
  - HQ security: additional security needed for off-site office space leased to accommodate staff during the HQ1 renovation; price increases on security guards contract related to the Affordable Care Act.
  - IT security: continued investment to protect information assets; increased spending to maintain Enterprise Information Security Program improvements.
- Security Related Spending, FY 13–16 (Millions of FY 16 dollars):
  - Administrative expenses: 25.5 27.7 28.7 31.3 (table line as presented).
  - Field security: 8.4 8.9 7.9 8.9.
  - HQ security: 13.4 13.2 13.7 14.0.
  - Business continuity: 0.6 0.6 0.6 0.6.
  - IT security: 3.1 5.0 6.5 7.8.
  - Spending as percent of administrative budget: 2.1 2.2 2.3 2.5.
  - Capital expenses: 3.9 4.6 7.0 4.2.
- Figures represent best estimates as not all security costs are specifically identified as such in the financial systems.

### Externally-financed outturn
- Externally-financed CD spending increased 9 percent in FY 16.
- Growth constrained by security concerns in recipient countries, implementation bottlenecks, and some residual Ebola-related delays.
- Externally-financed activities draw heavily on personnel and travel; external funding of these inputs grew faster than Fund-financed equivalents.
- Key externally-financed changes:
  - Externally-financed personnel costs grew at around 8 percent in real terms, compared to flat real Fund-financed spending in this category.
  - Number of regular staff FTEs covered by external financing (charge-backs) grew 21 percent; externally-financed contractual employment grew 6 percent (compared to 1.5 percent and -4 percent for Fund-financed regular and contractual employment, respectively).
  - Externally financed travel spending grew 11 percent, while Fund-financed travel excluding the Annual Meetings declined.
  - Total number of externally financed trips increased by more than 20 percent (Fund-financed trips increased 5 percent).

### Capital investment
- Total capital expenditures of $131 million were recorded in FY 16 out of $435 million in available appropriations.
- HQ1 Renewal expenses made up 70 percent of the spending.
- $15 million in facilities projects primarily supported the HQ1 project.
- IT capital spending of $26 million included investments in infrastructure, security and data management and dissemination.
- Facilities investments used one-third of available resources in FY 16 due to delay in HQ1 renewal causing a corresponding delay in audio/visual replacements.
  - Possibility that some previously appropriated funding will lapse because capital budget funds are available for three years; if lapses occur, new appropriations will be requested for FY 18.
  - FY 16 facilities spending included new media center, restroom and routine HQ2 building renovations and maintenance, and audio/visual replacements for completed HQ1 areas.
- IT capital investments used over 60 percent of available resources in FY 16; expenditure largely dedicated to IT infrastructure and services, IT security, core and strategic applications development (results-based management for TA, platforms for free data, data management for surveillance and capacity development, IMF.org improvements), and cross-cutting projects including MS Office platform upgrades.
- Total IT spending (capital and administrative) remained within benchmark range of 9–11 percent of total spending.
- HQ1 Renewal project:
  - Detailed analysis of project budget and schedule undertaken; supplementary funding approved; negotiation of a global settlement with General Contractor and major subcontractors completed.
  - Construction in common areas and lower office floors close to complete with reoccupancy expected during summer of 2016.
  - Over half of the renovation was completed by end FY 16.
- Table 6. Capital Expenditures, FY 16 (Millions of U.S. dollars) excerpts:
  - Appropriated in FY 16 budget: HQ1 Facilities 14.4; IT Renewal 27.7; Total 132.0; 174.1 (as presented).
  - + Unspent from FY 14 and FY 15 budgets: 30.1 12.9 217.4 260.4 (as presented).
  - = Total funds available in FY 16 2/: 44.5 40.6 349.4 434.5.
  - Total expenditures in FY 16: 14.6 25.8 90.1 130.5.
- Note: Approved capital budget funds are available to projects for three consecutive years. Unspent funds appropriated under the FY 14 capital budget lapsed at the end of FY 16. Unspent HQ1 renewal funds appropriated in FY 13 and FY 16 will lapse in 2018 and 2025, respectively, under an exception to the rule.

### Annex I. Capacity Development — overview, spending, and donors
- CD has been 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 16.
- TA delivery accounts for about 84 percent of total spending on CD in FY 16.
- Execution of donor-financed CD activities improved in FY 16:
  - Gap between budgeted and delivered activities was $15 million, or 10 percent of the budget, in FY 16.
  - Discrepancy mainly due to cautious budgeting, ongoing health and security risks in some regions, and operational issues.
  - Examples: South Sudan Trust Fund and some MNRW projects affected by security risks; Ebola-related delays in Sierra Leone and Guinea; delayed launch of some bilateral projects (e.g., SECO and Japan subaccounts).
- Sources of external funding (FY 12–16):
  - Top 15 donors contributed $706 million, or 86 percent of total external funding (table heading statement).
  - Table 2. Top donors and contributions (FY 12–16) (Millions of U.S. dollars and Share Percent of Total) as presented:
    - Japan: 156 — 19.0
    - European Union: 140 — 17.0
    - Canada: 82 — 10.0
    - United Kingdom: 64 — 7.8
    - Switzerland: 57 — 6.9
    - Kuwait: 40 — 4.9
    - Austria: 29 — 3.5
    - Australia: 28 — 3.4
    - Netherlands: 22 — 2.7
    - Mauritius: 20 — 2.4
    - Norway: 18 — 2.2
    - Singapore: 14 — 1.7
    - Belgium: 14 — 1.7
    - Korea: 12 — 1.5
    - Germany: 10 — 1.2
    - Other donors and international institutions: 117 — 14.2
    - Total: 823 — 100.0
  - Table 3. CD Vehicles: Top Donor Contributions (Millions of U.S. dollars and Share Percent of Total) as presented:
    - Multidonor: 458 — 59.6
      - of which: Topical Trust Funds (TTFs): 117 — 15.2
      - Regional Training Assistance Centers (RTACs): 257 — 33.4
      - Regional Training Centers (RTCs): 84 — 10.9
    - Bilateral: 311 — 40.4
    - Total: 769 — 100.0
  - Notes: Figures may not add to totals due to rounding. TTF and RTAC: signed contributions and pledges for current cycle as of April 30, 2016. For RTC and bilateral: contributions made during FY 12–16.
- Characteristics of external funding:
  - Donor contributions made to multi-donor vehicles (nine RTACs, four RTCs, eleven topical and country trust funds) or bilateral programs/projects.
  - Host countries manage three regional training programs (RTPs) where Fund staff provides training.
  - During current funding cycles, top 10 donors provided 60 percent of their contributions to multi-donor vehicles.
  - Contributions to multi-donor vehicles tend to come from a few donors; top three donors account for just under half of funding to RTACs and topical and country trust funds.
  - For RTACs, recipient members contribute almost 20 percent of total funding.

*International Monetary Fund — FY2016: OUTPUT COST ESTIMATES AND BUDGET OUTTURN PAPER (excerpts from content unit).*

### 5.      The Fund’s overall objectives and the needs of member countries determine the volume

### _082216 - 5.      The Fund’s overall objectives and the needs of member countries determine the volume

### Governance and Prioritization of Capacity Development (CD)
- Governance of CD activities strengthened following the Executive Board’s review of the Fund’s CD strategy in June 2013 and the Board’s approval of an updated CD policy statement in 2014.
- Fund- and donor-financing of CD:
  - ensure adequate funding for CD in crisis situations;
  - allow donor financing when donor interests are consistent with Fund priorities and objectives;
  - rely on Fund financing when donor support is not available.
- Prioritization occurs:
  - at the institutional level within the Fund’s key objectives (broad composition of CD across regions and topics);
  - at the country level driven by country demand.
- Key CD priorities for FY 16:
  - continue to scale up support to fragile states and Arab countries in transition (ACT);
  - increase assistance on financial sector issues;
  - maintain a high level of support to low-income developing countries (LIDCs) and small states.

### Technical Assistance (TA) Volume and Composition
- Total TA field delivery:
  - rose by five percent to 303 full-time equivalents (FTEs) in FY 16 compared to FY 15.
- Regional TA delivery changes:
  - rebound in Middle East and Central Asia (MCD) region as departments worked around security concerns;
  - TA delivery to Africa (AFR) and Western Hemisphere (WHD) grew;
  - TA to EUR leveled off with the easing of the financial crisis;
  - TA to Asia and Pacific (APD) fell slightly.
- By income and program status:
  - LIDCs received the largest gains in TA delivery in FY 16;
  - TA delivery to advanced economies continued to fall;
  - delivery of TA to program countries remained about the same in FY 16, although the number of programs continued to decrease.
- TA by topic and staff type (Person years of field delivery, FY 12–16):
  - Fiscal: FY 12 121; FY 13 148; FY 14 149; FY 15 146; FY 16 152.
  - Monetary and financial sector: FY 12 64; FY 13 63; FY 14 68; FY 15 72; FY 16 79.
  - Statistical: FY 12 24; FY 13 32; FY 14 37; FY 15 42; FY 16 38.
  - Legal: FY 12 16; FY 13 14; FY 14 15; FY 15 12; FY 16 12.
  - Other: FY 12 13; FY 13 17; FY 14 15; FY 15 16; FY 16 22.
  - Staff Type:
    - Long-term resident experts: FY 12 84; FY 13 94; FY 14 100; FY 15 97; FY 16 93.
    - Short-term experts: FY 12 93; FY 13 101; FY 14 116; FY 15 118; FY 16 122.
    - HQ-based staff: FY 12 61; FY 13 70; FY 14 73; FY 15 80; FY 16 88.
  - Funding Source:
    - Fund-financed: FY 12 51; FY 13 47; FY 14 53; FY 15 54; FY 16 51.
    - Externally-financed: FY 12 188; FY 13 227; FY 14 232; FY 15 234; FY 16 252.
  - Total TA (Person years): FY 12 239; FY 13 274; FY 14 285; FY 15 288; FY 16 303.
- Externally-financed TA:
  - grew slightly to account for about 83 percent of TA field delivery in FY 16.
  - ratio of donor-financed to total TA delivery had been relatively stable since FY 12 at about 81 percent.
- TA delivery to priority areas (Person years of field delivery, FY 12–16):
  - Arab Countries in Transition (Egypt, Jordan, Libya, Morocco, Yemen, and Tunisia): FY 12 45; FY 13 77; FY 14 79; FY 15 59; FY 16 57.
  - Fragile states: FY 12 65; FY 13 74; FY 14 76; FY 15 78; FY 16 78.
  - Financial sector: FY 12 64; FY 13 63; FY 14 68; FY 15 72; FY 16 79.
  - Low-income developing countries: FY 12 117; FY 13 136; FY 14 140; FY 15 137; FY 16 146.
  - Small states: FY 12 37; FY 13 44; FY 14 46; FY 15 49; FY 16 52.

### Training Volume, Modalities, and Coverage
- Total training volume:
  - increased by about 35 percent in FY 16 to about 19,500 participant weeks.
- Delivery channels:
  - mostly delivered by the Institute for Capacity Development (ICD) and the Statistics Department (STA).
  - face-to-face training grew by about eight percent.
  - online learning accounted for about 30 percent of Fund training in FY 16.
- Online learning program:
  - started in FY 14;
  - number of online courses increased to thirteen courses in FY 16 from six courses in FY 15.
  - online learning increased strongly in EUR and WHD due to courses in Spanish and Russian.
- Regional and priority group training changes:
  - training to all regions increased, with AFR having the highest growth in face-to-face training in FY 16.
  - most training participation is from emerging and middle income and low-income developing countries.
  - training by priority group (Participant weeks of training, FY 12–16):
    - Arab Countries in Transition: FY 12 599; FY 13 670; FY 14 856; FY 15 710; FY 16 704.
    - Fragile states: FY 12 2,119; FY 13 2,246; FY 14 2,621; FY 15 2,591; FY 16 3,214.
    - Financial sector: FY 12 2,759; FY 13 2,707; FY 14 2,921; FY 15 2,880; FY 16 3,326.
    - Low-income developing countries: FY 12 4,743; FY 13 4,706; FY 14 5,285; FY 15 5,647; FY 16 7,337.
    - Small states: FY 12 903; FY 13 1,034; FY 14 1,592; FY 15 1,606; FY 16 1,776.
  - Training growth in FY 16 by priority group:
    - low-income developing countries grew by about 30 percent;
    - fragile states grew by about 25 percent;
    - training in financial sector issues and to small states rose by over ten percent;
    - training to Arab countries in transition remained broadly stable.

### Progress Toward Improved Measurement of Results
- CD evaluation framework:
  - being strengthened in line with The Fund’s Capacity Development Strategy.
  - regular evaluation considered crucial to foster learning and enhance accountability.
  - work ongoing to develop an institutional approach to evaluation for all Fund CD activities.
- Results Based Management (RBM) and CD-PORT:
  - the Fund’s new RBM system (Capacity Development Project Outcomes and Results Tracking, CD-PORT) is being implemented in a phased approach.
  - all CD work, regardless of funding source, is expected to be in the system by April 2017.
  - CD-PORT objectives when fully implemented:
    - strengthen monitoring of both CD delivery and the results of Fund CD activities by integrating project and budget management with systematic tracking of TA results;
    - generate reports on the pace of implementation of individual programs or projects against verifiable outcome indicators to better inform the allocation of scarce CD resources and the evaluation of projects.

### Key Institutional and Financial Metrics (selected)
- Total Fund employment (Full-time Equivalents):
  - FY 14 3,574; FY 15 3,661; FY 16 3,704.
  - Regular, fixed term, limited term staff: FY 14 2,732; FY 15 2,784; FY 16 2,835.
  - Expert and contractual staff: FY 14 841; FY 15 877; FY 16 869.
- Training share of budget (Table 1 spending by output, FY 11–16):
  - Capacity development: FY 11 227; FY 12 269; FY 13 297; FY 14 313; FY 15 316; FY 16 332 (Millions of FY 16 U.S. dollars).
  - Technical assistance: FY 11 175; FY 12 210; FY 13 240; FY 14 259; FY 15 264; FY 16 277 (Millions of FY 16 U.S. dollars).
  - Training: FY 11 52; FY 12 59; FY 13 56; FY 14 55; FY 15 52; FY 16 55 (Millions of FY 16 U.S. dollars).

*Source: FY2016: OUTPUT COST ESTIMATES AND BUDGET OUTTURN PAPER (selected sections).*

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