{
  "title": "The Fund's Income Position for FY 2017 - Actual Outcome",
  "sourceUrl": "https://www.imf.org/en/publications/policy-papers/issues/2018/09/04/pp081517fund-income-position-actual-outcome",
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  "summary": "This paper reports the Fund’s income position for FY 2017 following the closing of the Fund’s accounts for the financial year and completion of the external audit. Total FY 2017 net income, including income from surcharges, amounted to SDR 1.",
  "sections": [
    {
      "heading": "Summary of outcomes",
      "content": "- Total FY 2017 net income, including income from surcharges, amounted to SDR 1.9 billion.\n- This total was about SDR 258 million higher than estimated in April, reflecting mainly a larger than anticipated gain reported under IAS 19 (the accounting standard for employee benefits).\n- GRA net income for FY 2017 was about SDR 1.49 billion and has been placed to the Fund’s reserves.\n- In accordance with decisions taken in April 2017, a net transfer of currencies amounting to SDR 1.41 billion was made in August 2017 from the GRA to the Investment Account.\n- Precautionary balances reached SDR 16.7 billion at the end of FY 2017."
    },
    {
      "heading": "Financial actions and placements",
      "content": "- Placement of GRA net income to the Fund’s reserves has strengthened the Fund’s precautionary balances.\n- The net transfer of SDR 1.41 billion from the GRA to the Investment Account was executed in August 2017 per April 2017 decisions."
    },
    {
      "heading": "Accounting note",
      "content": "- The primary reason for the upward revision of about SDR 258 million relative to the April estimate was a larger than anticipated gain reported under IAS 19 (the accounting standard for employee benefits).\n\nThe Fund's Income Position for FY 2017 - Actual Outcome, September 4, 2018\n\n---\n\n Content in this bundle\n\n- Policy Paper\n  - Policy Paper (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - Policy Paper (PDF){rel=\"external\" type=\"application/pdf\"}\n\n---\n\nSource: https://www.imf.org/en/publications/policy-papers/issues/2018/09/04/pp081517fund-income-position-actual-outcome"
    }
  ],
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    "[Markdown version](/en/publications/policy-papers/issues/2018/09/04/pp081517fund-income-position-actual-outcome/index.md)",
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    "Published: September 4, 2018",
    "Total FY 2017 net income, including income from surcharges, amounted to SDR 1.9 billion.",
    "This total was about SDR 258 million higher than estimated in April, reflecting mainly a larger than anticipated gain reported under IAS 19 (the accounting standard for employee benefits).",
    "GRA net income for FY 2017 was about SDR 1.49 billion and has been placed to the Fund’s reserves.",
    "In accordance with decisions taken in April 2017, a net transfer of currencies amounting to SDR 1.41 billion was made in August 2017 from the GRA to the Investment Account.",
    "Precautionary balances reached SDR 16.7 billion at the end of FY 2017.",
    "Placement of GRA net income to the Fund’s reserves has strengthened the Fund’s precautionary balances.",
    "The net transfer of SDR 1.41 billion from the GRA to the Investment Account was executed in August 2017 per April 2017 decisions.",
    "The primary reason for the upward revision of about SDR 258 million relative to the April estimate was a larger than anticipated gain reported under IAS 19 (the accounting standard for employee benefits).",
    "**Policy Paper**"
  ],
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