The 19th meeting of the ITU Council working group on Financial Regulations (FINREGs) was held last 16 February in Geneva, with the aim of examining financial decisions made at the Union's Plenipotentiary Conference (Mexico, October 2010).
Noteworthy at the meeting were the discussions on the implementation of results-based management (RBM). The ITU secretariat questioned the interest in maintaining the Time Tracking System (TTS) tool, holding that it is very unreliable and less sophisticated than others at the Union's disposal. The European countries insisted on the usefulness of the TTS, so the matter will be examined again at a future meeting.
The working group also discussed implementation of the Management Advisory Committee created by the Plenipotentiary Conference, as well as the need to approve the external auditor selection process.
Also noted was the estimated loss of 16 million Swiss francs (about 12 million euros) in a period of four years - the result of lower fees paid by member States and the exit of sector members. The ITU assured that it was taking steps to increase revenues and cut spending. It is also preparing a scheme for voluntary separation and early retirement.
These matters will again be discussed at the next FINREGs meeting, scheduled for this coming 23-24 May in Geneva.
