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Budget

With regard to Article X of the WNO Treaty, every member state may decide upon the amount of its annual contribution, taking into consideration its own economic capacities and the appropriateness of the contribution.

In order to make accession possible for emerging and developing countries, as well as intergovernmental organizations in the field of development, full membership within the WNO can be obtained by paying a symbolical annual fee.

Article X – The Budget (WNO Treaty)

1) The budget of the WNO shall be financed from:

a) commensurate annual contributions from its members;

b) voluntary contributions;

c) contributions from other sources.

2) Every member undertakes to pay annual fees, the amount of which the member must decide by taking into consideration the appropriateness of the contribution and the economic capacity of the state concerned.

3) The contribution for the following year must be communicated to the Secretariat by 1st December and must be paid within three months of communication with the Secretariat.

4) Members who have made no contribution for the subsequent year to the financing of the organization shall have no right to vote in the Assembly for that period of time.

5) The financial regulations and budget shall secure a solid basis for the financing of the organization and shall guarantee the effective and efficient performance of the activities of the organization, as specified in the work programme. The members shall therefore observe the continuity of their annual contributions in order to ensure long-term planning within the organization.

6) The annual contribution serves to finance the core activities and the costs of administration. Voluntary contributions from members can be authorized by the Assembly or the Secretariat, for individual projects.

7) The Secretariat shall draw up the draft budget for the organization and present it to the Assembly for approval.

8) The Assembly shall nominate an external auditor for a term of office of four years, with the possibility of re-election at the end of this period. The term of office of the first auditor shall be two years. The auditor shall scrutinize the accounting systems of the organization and shall make remarks and recommendations as required, with regard to the efficiency of management and internal financial controls.