This document reports on the execution of the GCF 2019 administrative budget and multi-year budgets approved for the forward-looking performance review (FPR) and the first formal replenishment of the GCF for the period ending 31 August 2019. Administrative expenditure relates to costs for Board activities, the independent units, the Secretariat and the Trustee for the period 1 January 2019 to 31 August 2019. In addition, costs incurred for the FPR and the first formal replenishment of the GCF between 1 October 2018 and 31 August 2019 are included. These numbers are unaudited.

As at 31 August 2019, total expenditure was USD 41.6 million for annual budgets (52 per cent of the approved budget) and USD 0.9 million for multi-year budgets (41 per cent of the approved budget). These figures do not include the commitments, that is, the costs for which the contracts have been signed but the services/goods have not been executed/delivered. The commitments are included in the budget execution report when the related services are performed.

The budget balance of USD 39.7 million comprises USD 1.7 million for the Board; USD 4.3 million for the independent units; USD 31.7 million for the Secretariat; USD 0.7 million for the Trustee; USD 0.18 million for the FPR; and USD 1.1 million for replenishment.