The year 2005 was an unprecedented one for the organizationís finances. Largely as a result of private sector contributions in response to emergencies, total income before adjustments increased 40 per cent over the previous year to reach $2,762 million. After adjustments related to support-budget transfers, 2005 income totalled $2,747 million, compared with $1,969 million in 2004.

The year began with exceptional results in financial reporting. Accounts for 2004 were closed in mid-February 2005, the earliest year-end system closure since 1999. This timely wrap-up facilitated preparation of annual financial reports to donors, including reports for major donor governments that were issued months earlier than in previous years.

UNICEFís commitment to efficiency is demonstrated most dramatically by the progressive decrease in the ratio of gross programme support and management-and-administration expenditure to total expenditure. UNICEF managed nearly 40 per cent more income and expenditure in 2005 compared with 2004, while containing the increase in gross support-budget expenditure (comprising programme support and management and administration) to 7 per cent.

Net support-budget expenditure decreased from $256 million in 2004 to $225 million in 2005 as a result of this containment and the significant increase in the recovery from country programme activities funded by other resources.

Note: Figures in some tables may not add up due to rounding.