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2023-Financial-Statements-and-Audit-Report

The financial statements for the Transport Community for the year 2023 detail cash and cash equivalents totaling EUR 1,182,626.36, with significant amounts held in both RSD and EUR accounts. Receivables increased to EUR 18,629.28, primarily from staff and observing member expenses. Total running costs amounted to EUR 467,995.05, with notable expenses in travel, office costs, and technical assistance.

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17 views29 pages

2023-Financial-Statements-and-Audit-Report

The financial statements for the Transport Community for the year 2023 detail cash and cash equivalents totaling EUR 1,182,626.36, with significant amounts held in both RSD and EUR accounts. Receivables increased to EUR 18,629.28, primarily from staff and observing member expenses. Total running costs amounted to EUR 467,995.05, with notable expenses in travel, office costs, and technical assistance.

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madandahal0001
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PERMANENT SECRETARIAT OF THE TRANSPORT COMMUNITY

Notes to the Financial Statements -


Financial Year 2023

1. NOTES TO THE FINANCIAL STATEMENTS

Note 1: Cash and cash equivalents

Cash and cash equivalents are financial instruments and defined as current assets. They include cash at hand and
deposits held at the bank.

Cash on hand is held in bank accounts with Raiffeisen Bank A.D. in Belgrade. Transport Community has one bank
account in RSD and one bank account in EUR.

31 December 2023 31 December 2022


In EUR In EUR
Current RSD account 4,943.32 253.05
Current EUR account 1,174,489.90 1,368,197.14
Debit card account EUR 2,168.27 259.16
Debit card account RSD 1,024.87
Total 1,182,626.36 1,368,709.35

The total amount of cash and cash equivalents as at December 31, 2023 comprises of EUR 4,943.32 on the current
RSD account; EUR 1,174,489.90 on the current EUR account; EUR2,168.27 and EUR1,024.87 on a debit card accounts.

Note 2: Receivables and Prepayments

Receivables are carried at the original amount less write-off. Receivables are written off, when there is objective
evidence the hat Transport Community will not be able to collect all amounts due according to the original terms of
receivables.

31 December 2023 31 December 2022


In EUR In EUR
Other receivables
Receivables from staff and other 2,217.11 1,400.98
Receivables for observing member expenses 16,412.17
Total 18,629.28 1,400.98

The other receivable from staff and other amounts include costs which were recovered from staff members (for
example private use of official phones and other costs). The receivables for observing member participant 4' expenses
include costs which for operational reasons were initially covered through the main account. Such funds are in the
meantime refunded from the designated grant contract. Further details are provided under Note 17.

4
https://www.transport-community.org/observing-participants/

5
PERMANENT SECRETARIAT OF THE TRANSPORT COMMUNITY
Notes to the Financial Statements -
Financial Year 2023

Running costs of the Secretariat 2023 2022


in EUR in EUR
Travel costs 117,992.89 124,989.86
Office costs, equipment, and software 16,194.43 24,476.02
Other costs and services 333,807.73 231,001.54
Sub total 467,995.05 380,467.42

Studies and Technical Assistance 2023 2022


in EUR in EUR
Studies and Technical Assistance 232,560.00 301,500.00
Sub total 232,560.00 301,500.00

Other Transport Community Bodies 2023 2022


in EUR in EUR
Ministerial Council 22,372.30 6,611.84
Regional Steering Committee 9,258.08 16,109.01
Technical Committee Meetings 130,585.55 106,887.12
Social Forum 9,987.20 5,367.12
Budget Committee 3,116.22 1,265.77
Sub total 175,319.35 136,240.86

Recruitment costs
2023 2022
In EUR In EUR
Recruitment costs 3,590.19 1,845.28
Total 3,590.19 1,845.28

Expenses arising from purchasing goods and services are reported on an accrual basis, recognising costs when a
transaction occurs, rather than when payment is made.

Finance costs
2023 2022
In EUR In EUR
Bank charges 12,074.12 10,964.59
Foreign exchange losses 1,448.25 1,076.13
Foreign exchange gains (12.50) (14.96)
Total 13,509.77 12,025.76

Finance costs in the total amount EUR 13,509.77 include bank charges EUR 12,074,12 (in 2022: EUR 10,964.59 ),
foreign exchange losses EUR 1,448.25 (in 2022: EUR 1,076.13 ), Foreign exchange gains EUR 12.50 (in 2022: EUR
14.96).

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