This document presents an update of actual expenditures for the eight months to 31 August 2016 against the approved budget for 2016. It is based on actual expenditures relating to activities of the Board and the Secretariat for the period 1 January to 31 August 2016 and estimated expenditures for the interim trustee.

For the eight-month period of 1 January to 31 August 2016, total expenditures on the Board and the Secretariat as well as estimated expenditures for the services of the Interim Trustee amounted to USD 14.8 million or 41% against a budget of USD 36.1 million.

This document explains the drivers for a number of areas with a relatively low rate of spending and provides an assessment of anticipated progress against each by the end of the year.