The Thirty-first Meeting of the Executive Committee decided:
(f) to request the Secretariat to consult with the Implementing Agencies on the feasibility of closing project preparation accounts annually or biennially and to submit a concise report on the matter to the Executive Committee at its Thirty-second meeting.
(UNEP/OzL.Pro/ExCom/31/61, Decision 31/4, para. 22 (f)).
The Thirty-second Meeting of the Executive Committee decided:
(a) project preparation activities approved at the first or second Executive Committee Meeting in a particular year should be completed within 12 months and financially completed (closed) by 31 December of the first year following approval, at the latest, to allow sufficient time for closure of financial accounts and payments of all outstanding obligations (for example, a project approved in July 2000 would be completed by August 2001 and financially completed by 31 December 2002);
(b) project preparation activities approved at the last Executive Committee Meeting in a particular year should be financially completed (closed) by 31 December of the second year following approval (for example, a project approved in November 2000 would be completed by December 2002 and financially completed by December 2002);
(c) project preparation with duration that exceed 12 months should be accompanied by an explanation of the reason for the longer duration;
(d) that it be recognized that, in certain cases, such as the preparation of umbrella projects, sector plans, RMPs and terminal phase-out projects, project preparation might take longer.
(UNEP/OzL.Pro/ExCom/32/44, Decision 32/5, para. 16).