The Executive Committee invited UNEP to be the Treasurer of the Fund. Thus, UNEP is responsible for receiving and administering contributions, and disbursing funds to the Fund Secretariat and the Implementing Agencies based on the directive of the Executive Committee. Following consultation with United Nations officials, UNEP shall submit investment plans related to contributions held in reserve for the Executive Committee's approval.
(UNEP/OzL.Pro/ExCom/3/18/Rev.1 Annex III (section I.3.1).
The Thirty-eighth Meeting of the Executive Committee decided to request UNEP to continue to provide the service of Treasurer at zero cost to the Multilateral Fund, along the lines of the original agreement, for a further period of six months to enable the appropriate bodies, among them the Executive Committee, to examine the issue.
(UNEP/OzL.Pro/ExCom/38/70/Rev.1, Decision 38/37, para. 72 (a)).
The Thirty-eighth Meeting of the Executive Committee also decided to request the Treasurer:
(i) to include an explanatory section on "Methodology and Assumptions" with future reports;
(ii) to carry out a reconciliation every year;
(iii) to include in his report to each meeting of the Executive Committee the value of the promissory notes as at the date of that meeting.
(UNEP/OzL.Pro/ExCom/38/70/Rev.1, Decision 38/1, para. 31 (b)).