This document provides information on the execution of the GCF 2023 administrative budget from 1 January to 31 July 2023, the budget approved for the second performance review of GCF from 10 June 2021 to 31 July 2023 and other additional budgets approved by the Board. The administrative expenditure relates to costs for Board activities, the independent units, the Secretariat and the Trustee. The figures in this document are unaudited. As at 31 July 2023, total expenditure for the annual administrative budget was USD 51.4 million against the annual budget of USD 114.3million (45 per cent of the approved budget), USD 0.9 million against the multi-year budget of USD 1.3 million for the second performance review (66 per cent of the approved budget) and USD 0.7 million against the additional budget of USD 5.8 million (12 per cent of the approved budget). These figures do not include commitments, namely the contracts for consultants and professional services that have been signed and committed to by GCF but where services/goods have not yet been delivered by the vendor. During the year when the relevant services are performed or goods delivered, these would be reported as actual expenditure in the budget execution reports. The unutilized budget of USD 62.9 million for the annual administrative budget comprises USD 3.2 million for the Board, USD 7.3 million for the independent units, USD 51.2 million for the Secretariat, and USD 1.3 million for the Trustee.