text: 536971 446425 16993824 6480238 218542370SCHEDULE 25.1 AREASTAFFPROVIDENT FUND Investments andinvestment incomefortheyearended31December 1984 (united Statesdollars)\ ," I Iber1983Bankof America, LondonBankers Trust, LondonFirstNational BankofChlcago, GenevaCreditanstalt Bankverein, Vienna Total 98470 85990 85520 72390 42370 25597 52442 06378 54094 51477 ~9988 ~4924 16971 16425 13824 10238- ~2370Investments asat1January 4839847061685990695115520 381172390218542370 Add: Funding durlngyear12250000 12250000 4839847061685990 69585520 51122390230792370 Grossinvestment lncome 52072574836416 8080123 5630378 23754174 Deduct: Investment managers' fees 145633 807!:15 94735 38029 359192 Netlnvestment income 50616244755621 7985388 5592349 23394982 Investments asat 31December 5346009466441611 77570908 56714739254187352 Investment yield 10.5% 7.7% J.1.5% 12.6% 10.4% Allocatlon ofinvestments bycurrencyPercentage UnltedStatesdollars 116.5 69.1 9!:1.4 99.8 88.9 Poundssterling 1.J. 1.0 0.5 Swissfrancs0.1 Deutsche mark 12.4 0.8 0.5 3.0 Austrian sChil1ings0.2 Japanese yen 16.14.2 European Community Units(ECU) 13.03.4 100.0 100.0 100.0 100.0 100.0 Investments bymatunty Uptotwoyears 52.7 59.3 66.6 49.4 57.9 Uptosevenyears 47.3 40.7 33.4 50.6 42.1 100.0 100.0 100.0 100.0 100.0 -- ------- -79-NOTESTOTHEFINANCIAL STATEMENTS Note1.Summary ofsignificant accounting policies Thefollowing arethesignificant accounting policies oftheAgency. Thesepolicies applyprincipally totheGeneral Fund,buttheyalsoapplytoprojectfunds,theBayssarieh CampFundandtheAreaStaffProvident Fundwhereappropriate: (a)TheAgency's accounts aremaintained inaccordance withtheFinancialRegulations oftheUnitedNations Relief andWorksAgencyforPalestine Refugees intheNearEastasestablished bytheCommissioner-General inconsultation withtheSecretary-General andtheAdvisory Committee onAdministrative andBudgetaryQuestions. (b)Thefinancial periodoftheAgencyisthecalendar year. (c)TheAgency's accounts arebasedonthepremise ofagoingconcern andontheprinciple ofprudence. (d)Assets andliabilities andincome andexpenditure arerecognized ontheaccrual basisofaccounting. Theprincipal exception tothispolicyisthatcontributions otherthanthosebyGovernments andUnitedNations agencies arerecognized onlyonthebasisofactualreceipt ofcashorcontributions inkind. (e)Theaccounts oftheAgencyaremaintained inUnitedStatesdollars.Transactions inothercurrencies aretranslated intoUnitedStatesdollars atthetimeofthetransaction atratesofexchange established bytheAgency. Attheendofthefinancial periodassets andliabilities notinUnitedStatesdollars arereflected inUnitedStatesdollars atthethenapplicable Agency exchange rates.Gainorlossonexchange ofcurrencies istreated asanaddition toordeductionfromincome. (f)FixedassetsoftheAgency (consisting ofvehicles, otherequipment andcertain landsandthebuildings thereon) arenotincluded intheassetsreported instatement IIIofallfundsandstatement VoftheGeneral Fund.Costsoftheseassetsarefullycharged toexpenditure intheperiodofpurchase orconstruction.Memorandum records aremaintained forsuchassets. Alsonotincluded intheabovestatements arethebuildings andrefugee shelters constructed bytheAgency onlandownedbyvarious Governments orbyprivate individuals. Appropriate memorandumrecords, however, aremaintained forthesebuildings andforrefugee shelters,ownership ofwhichwillpresumably reverttotheland-owners concerned, althoughthisislesscertain inthecaseofrefugee shelters. (g)Asfromtheendofthe1984financial year,theaccounting policywithrespect tosupplyinventories hasbeenchanged (seenote3(b)fortheeffectofthischange). From1985onwards thecostsofallsupplies purchased forinventories willbefullycharged toexpenditure atthetimeofreceipt ofthegoods. Memorandum records andthenormalinventory control aremaintained fortheseassets. (h)Miscellaneous income: (i)Thenetincomerealized fromrevenue-producing activities istreated asmiscellaneous income; -80-These oject ppropriate:
analysis: This text appears to be a financial statement of a humanitarian organization, likely the United Nations Relief and Works Agency for Palestine Refugees in the Near East. The statement provides information on the organization's investments, income, and expenses, as well as its accounting policies. The text does not explicitly mention specific projects or activities, but it seems to be related to managing the organization's funds and resources.