text: fieldofficearebeingheldinsuspense ontheARLaccount duetotheGovernment's intervening request ofcollecting therentals indollars andreimbursing theloan -24- ,,1\.inna reimb autho the stipu offic 56. field reimb have 57. encou hasb view Insuf 58. housi bere renta" will purpos 59.W operat suffer agreed suffic theex reveal $13,09 thepe 60.W Govern agreelJl 61.T apartm ofjun employ 75per 62.W insuff Govern ofthe thatpinnational currency, aswellastoitsposition thattheuseofanyfundsforloan reimbursement heldonthefieldoffice ARLaccount requires specific Government authorization because thesefundsareheldentirely onbehalfandforaccount of theGovernment. Provision 1.05oftherelevant loanagreement, however, clearly stipulat~s thattheresident representative shalldeposit therentsreqeived bythe officeinabankaccount entitled "Compte durepresentant resident duPNUD". 56.Inthisregard, weareoftheopinion thatthetransfer ofARLfundsfromthe fieldoffices toheadquarters isaninternal matterconcerning UNDPonlyand reimbursement toheadquarters should, therefore, bemadeassoonastherentals havebeenreceived bythefieldoffice. 57.Initsreply,theAdministration admitted thatsomedifficulties havebeen encountered withloanrepayments ~ndstatedthatthestandard loanagreement text hasbeenreviewed andamended bytheUnitedNations OfficeofLegalAffairs witha viewtoavoiding apossible repetition ofsuchmisinterpretations. Insufficiency ofrentalyieldtocoverinstalment amounts 58.According totheagreement signed byUNDPandanother Government foralo~ul housing complex inMay1975,aUNDPloanforanamountequivalent, to$170,000 will berepaidbytheGovernment in30half-yearly instalments and,tothisend,the rentalyieldofthecomplex, lessadeduction of25percentformaintenance costs, willbetransferred toaseparate account tobeopened bytheGovernment forthis purpose. 59.Wenotedinthisregardthat,sincetheint~gration ofthehousing activity operations intheUNDPaccounts attheendofJune1982,theorganization is suffering afinancial lossbecause theeffective rentalyieldofthecomplex (after agreeddeduction of25percentformaintenance costs)collected byUNDPisnot sufficient tocovertheinstalment amounts credited byUNDPtotheGovernment at theexpirydatesfixedintheloanrepayment schedule. Ourexamination indeed revealed ~hat,disregarding theactualcostofsubstantial repairs intheamountof $13,092, thelossesincurred byUNDPamounted toanequivalent ofsome$2,595for theperiod fromJune1983toJune1984. 60.Werecommended thattheorganization shouldnegotiate payment bythe Government ofalllossessuffered byUNDPonthebasisofarticle 3.02ofthe agreelJlen..t. 61.TheAdministration explained thatlossesareduetothefactthatall apartments arenotcontinuously occupied. Theoccupancy ratedepends onthenumber ofjuniorprogramme officers, unitedNations volunteers, experts andotherslocally employed atanygiventime.Whenever theapartments arefullyoccupied, the 75percentportion ofrentsissufficient tocovertheloanrepayments. 62.Westressed; nevertheless, thatiftherentalyieldofthecomplex is insufficient tocoverdueinstalments, UNDPshouldclaimadditional payment bythe Government. Wealsoadvised thattheoccupancy ratebeincreased byrenting some oftheapartments outside theUnitedNations family. TheAdministration replied thatpayment bytheGovernment forthelossessustained byUNDPwillbenegotiated.I 1-25-innational currency, aswellastoitsposition thattheuseofanyfundsforloan reimbursement heldonthefieldoffice ARLaccount requires specific Government authorization because thesefundsareheldentirely onbehalfandforaccount of theGovernment. Provision 1.05oftherelevant loanagreement, however, clearly stipulat~s thattheresident representative shalldeposit therentsreqeived bythe officeinabankaccount entitled "Compte durepresentant resident duPNUD". 56.Inthisregard, weareoftheopinion thatthetransfer ofARLfundsfromthe fieldoffices toheadquarters isaninternal matterconcerning UNDPonlyand reimbursement toheadquarters should, therefore, bemadeassoonastherentals havebeenreceived bythefieldoffice. 57.Initsreply,theAdministration admitted thatsomedifficulties havebeen
analysis: The text appears to be related to the financial management and operations of a United Nations Development Programme (UNDP) field office. It discusses the collection of rent, loan repayment, and the reimbursement of funds. The text also touches on the issue of insufficient rent yield and the need for additional payment from the government. The tone is formal and bureaucratic, suggesting that it may be an internal report or a response to a government inquiry.