Finances, projects and volunteers - 2003

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Médecins Sans Frontières is a private, non-profit, international organization. It is made up of 18 national sections in Australia, Austria, Belgium, Canada, Denmark, France, Germany, Holland, Hong Kong Special Administrative Region of China, Italy, Japan, Luxembourg, Norway, Spain, Sweden, Switzerland, the United Kingdom and the United States, with an international office in Brussels. Each section of MSF publishes annual, audited financial statements according to its national accounting policies, legislation and auditing rules. Copies of these may be requested from each section. Based on these audited national statements, the figures presented here provide an estimate of MSF's finances on an international level. These combined international figures have not been audited and are therefore not certified. The figures are for the 2002 calendar year; the Activity Report itself covers the period August 2002 to July 2003. The 2001 figures have been restated according to our new international accounting practices. All amounts are in millions of euros. Permanently restricted funds may be capital funds, where the assets are required by the donors to be invested, or retained for actual use, rather than expended, or they may be the minimum compulsory level of retained earnings to be maintained by some of the sections. Unrestricted funds are unspent donor non-designated funds expendable at the discretion of MSF's trustees in furtherance of our social mission. MSF's retained earnings have been built up over the years by surpluses of income over expenses. As of the end of 2002, their available part (the unrestricted funds) represented 7.1 months of activity. The purpose of maintaining retained earnings is to meet the following needs: future major humanitarian emergencies for which sufficient funding cannot be obtained, and/or a sudden drop of private and/or public institutional funding, and the sustainability of long-term programs (eg, ARV treatment programs), as well as the pre-financing of operations to be funded by upcoming public funding campaigns and/or by public institutional funding. The unspent temporarily restricted funds are unspent donor-designated funds, which will be strictly spent by MSF in accordance with the donors' desire (eg, specific countries or types of interventions) as needs arise.