Finance

Background

The Roundtable on Sustainable Palm Oil is a not-for-profit organisation registered in Zurich and funded largely by membership funds. Ordinary members pay €2 000 per year, small growers (less than 500 hectares) pay €500 per year, affiliate members pay €250/year and Supply Chain Associate members pay €100/year. The organisation has also been assisted by intergovernmental, governmental and non-governmental organisations, especially in its early years. Members have also supported by provide support-in-kind and a great amount of volunteerism.

Funding is used in activities and projects to further the RSPO's objectives and to operate the Secretariat in Kuala Lumpur and a Liaison Office in Jakarta. The annual audited accounts of the organisation in recent years may be viewed below:

Attachment Size
The RSPO Financial Statements for the Financial Year Ended 30 June 2013 4977 KB
The RSPO Financial Statements for the Financial Year Ended 30 June 2012 941 KB
RSPO Annual Financial Report (Consolidated) 2011.pdf 924.68 KB
RSPO Annual Financial Report 2010.pdf 574.24 KB
RSPO SSB Annual Financial Report 2010.pdf 842.33 KB
RSPO Annual Financial Report 2009.pdf 136.51 KB
RSPO SSB Annual Financial Report 2009.pdf 173.68 KB
RSPO Annual Financial Report 2008.pdf 129.02 KB
RSPO SSB Annual Financial Report 2008.pdf 160.69 KB
RSPO Annual Financial Report 2007.pdf 24.02 KB


Responsibilities

  Ensure that the finances of the RSPO are sound and commensurate with the RSPO’s needs.
  Recommend to the Executive Board revenue and project budgets for each year.
  Ensure that risks to the RSPO’s financial security are identified and managed appropriately.
  Ensure compliance with the regulatory requirements of countries in which the RSPO operates.
  Discharge these fundamental responsibilities within the terms of reference set out below.

Terms of Reference

  Agree, prior to Executive Board approval, a budget for each year.
  Monitor performance against budget and ensure that the Executive Board is kept fully informed.
  Monitor cash flow and reserves and ensure that the Executive Board is kept fully informed.
  Monitor the payment of subscriptions and recommend action in case of default.
  From time to time initiate studies into the RSPO’s long term financial strategies and into current financial issues.
  Monitor the preparation of the annual accounts and review the accounts with the auditorsprior to presentation to the Executive Board.
  Ensure that regular reviews of risks are undertaken and that the RSPO management has appropriate procedures and controls in place.

Composition

  The Committee will comprise up to four Executive Board members, including the Treasurer, as well as the Secretary General and the Finance and Administration Director.
  The Chairman of the Committee shall be the Treasurer
  Three members will constitute a quorum.
  The Committee will meet quarterly and more often as required.

(d.d.16 September 2010)