Financial and Administrative Committee (FAC) Report Fiscal Year 2004-2005

The Financial and Administrative Committee (FAC) Report for Fiscal Year 2004-2005 details the committee's oversight of the Inter-American Institute for Global Change Research (IAI), focusing on external audits by KPMG, revisions to administrative manuals, and the management of the Core Budget and staff compensation.

• KPMG conducted an external audit of the IAI's internal controls, focusing on Collaborative Research Networks (CRN) awards payments and receivables, as well as procurement and employee policies.
• The 2003/2004 external audit revealed accounting difficulties because financial status reports for Collaborative Research Networks (CRN) awards were submitted on various anniversary dates rather than aligned with the IAI fiscal year-end.
• The FAC recommended a specific schedule for the 2004/2005 audit, including a 'pre-audit' and Management review in April 2005 (using March 31, 2005 as an interim date) and a final audit scheduled for August.
• To address the erosion of staff purchasing power caused by inflation in Brazil and the devaluation of the U.S. Dollar, the FAC approved a 2% salary adjustment and a temporary 13% 'post adjustment'.
• The FAC approved a final recommendation for the 2005/2006 Core Budget Contribution Level of $1,015,000, an increase from the previous $945,000, noting that member contributions had not increased since 2000.
• The FAC oversaw revisions to the IAI Employee Manual, specifically addressing compensatory time and education allowances, though further improvements were still required.
• Approval of the Project Management Manual was postponed because it had not been revised to incorporate comments provided by the National Science Foundation (NSF) and the FAC on February 15, 2005.

APA

Inter-American Institute for Global Change Research (2005). Financial and Administrative Committee (FAC) Report Fiscal Year 2004-2005. https://archive.iai.int/admin/site/sites/default/files/13_FAC.pdf

Chicago

Inter-American Institute for Global Change Research. Financial and Administrative Committee (FAC) Report Fiscal Year 2004-2005. 2005. https://archive.iai.int/admin/site/sites/default/files/13_FAC.pdf.

Wikipedia

{{cite report |author=Inter-American Institute for Global Change Research |title=Financial and Administrative Committee (FAC) Report Fiscal Year 2004-2005 |date=28 March 2005 |url=https://archive.iai.int/admin/site/sites/default/files/13_FAC.pdf |access-date=17 August 2026 |via=Climate Insights Directory}}

BibTeX

@techreport{interamericaninstituteforglobalchangeresearch2005financial, author = {{Inter-American Institute for Global Change Research}}, title = {{Financial and Administrative Committee (FAC) Report Fiscal Year 2004-2005}}, institution = {Inter-American Institute for Global Change Research}, year = {2005}, month = mar, url = {https://archive.iai.int/admin/site/sites/default/files/13_FAC.pdf}, urldate = {2026-08-17}, note = {Indexed by Climate Insights Directory} }